INDIAN EQUITY BENCHMARKS fell 1% led by profit-taking in software stocks such as Infosys Ltd, while caution also prevailed on expiry of derivative contracts and federal budget on Saturday. The S&P BSE Sensex and CNX Nifty ended 0.90%-0.95% higher each.
·Initial reaction to Rail Budget: Big on vision but lacks specifics
·Freight rates hiked for coal, cement, iron & steel
·Suresh Prabhu Presents Rail Budget 2015
The crucial resistance for Nifty is now seen at 8775 and above this 8850. Support for the immediate term is now placed at 8665 and next support will be 8625.
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Rolta India is looking weak on charts, if it sustains below 140 levels. We advise selling on rise around 135-130 levels with strict stop loss of 140 for the targets of 120-100.
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