NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 7830
SUPP 2: 7650
RES 1: 7970
RES 2: 8120
Nifty Technical Overview:
Nifty futures opened slightly positive but witnessed bearish
movement in first half of the day after little consolidation to take support at
7900 key mark and bounced back in second half of the day and closed on positive
note. Tomorrow it can test 8000 level if sustain above the level of 7920.
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Indian Rupee Update
The Indian rupee opened lower by 5 paise at 66.45 per dollar
versus 66.40 Tuesday.The USD-INR is expected to trade today in a narrow range
of 66.35-66.48/dollar
INDIAN MARKET
OVERVIEW
The market closed flat amid consolidation and thin volumes
on Tuesday despite positive global cues and correction in oil prices. Nifty
future up 23 points at 7932.
The 30-share BSE Sense up 45 points at 17010. The market
breadth was weak as about 1156 shares advanced against 1509 declining shares on
the BSE.
HDFC Bank today slashed it base rate by 5 basis points to
bring it down to 9.30 percent from the 9.35 percent earlier effective January
4, 2016.
Sterlite Technologies has won the Rs 1300 crore transmission
project in Odisha by bidding 10 percent lower than the nearest competitor. The
winning bid by Sterlite was at Rs 140 crore per annum for 35 years.
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