INDIAN EQUITY MARKET WRAPUP -07 JAN 2015

INDIAN BENCHMARKS ,Bears continue to chip away: Nifty defends 8100

INDIAN EQUITY BENCHMARKS fell to their lowest level in nearly three weeks on stocks favoured by overseas investors such as ICICI Bank declined, following heavy foreign sales in derivatives and cash shares in the previous session. The S&P BSE Sensex and CNX Nifty ended 0.29%-0.31% lower each.

1. Tata Motors fell 1.15%, on reports its British luxury car making unit, Jaguar Land Rover was awaiting word on the fate of 1,200 luxury vehicles aboard a car transporter ship that has run aground in the English Channel.
2. Aurobindo Pharma rose 1.67%, after the company announced that it has received final approval from the USFDA to manufacture and market Valsartan Tablets.
3. Hero MotoCorp declined 1.32%, after the company said that the transporters' strike has impacted the despatches from company's plants in Gurgaon and Dharuhera.

The crucial resistance for Nifty is now seen at 8185 and above this 8255. Support for the immediate term is now placed at 8070 and next support will be 8010.