INDIAN EQUITY MARKET WRAPUP-12 FEB 2015

INDIAN EQUITY BENCHMARKS  rallied around 1 percent, in a sharp turnaround from earlier mild losses after the leaders of Germany, France, Russia and Ukraine reached a deal to end fighting in eastern Ukraine, sparking gains in global markets. The S&P BSE Sensex and CNX Nifty ended 0.95%-0.98% higher each.
                                                                                                                                      
·Reliance Capital Q3 consolidated net profit up 28% (YoY)

·Hindalco Inds Q3 Profits below estimates

·BOI Q3 earnings disappoint; Net Profit falls 70% (YoY)

·Neyveli Lignite Q3 net profit down 37% (YoY)

The crucial resistance for Nifty is now seen at 8775 and above this 8815. Support for the immediate term is now placed at 8620 and next support will be 8585.