INDIAN EQUITY MARKET WRAP UP 22 ND APRIL 2014

INDIAN BENCHMARKS end flat ahead of April F&O expiry.

INDIAN BENCHMARKS closed flat with negative bias as investors turned cautious ahead of the expiry of April derivative contracts on tomorrow.

Further, HDFC Bank fourth quarter (January-March) net profit rising 23 percent year-on-year to Rs 2,326 crore, driven by higher other income and fall in provisions. MRF tumbled 7.7% after net profit declined 18.86% to Rs 170.87 crore on 13.66% growth in total income to Rs 3309.66 crore in Q2 March 2014 over Q2 March 2013.

The crucial resistance for Nifty is now seen at 6850 and above this 6900. Support for the immediate term is now placed at 6700 and next support will be 6650.

NEWS TO WATCH:

·    Watch out for the quarterly earnings of Cairn India, Yes Bank, LT Finance, M&M Finance on 23RD April.