INDIAN BENCHMARKS rise nearly 2 pct ahead of federal budget
INDIAN EQUITY BENCHMARKS rose nearly 2 percent their best single-day advance in six weeks, as blue chips rallied on hopes the government would deliver a budget that increases public investment but sticks broadly to its fiscal deficit targets. The S&P BSE Sensex and CNX Nifty ended 1.65%-1.85% higher each.
· Railway Budget 2015-16: On the right track for a long journey
· S&P raises India’s GDP growth forecast to 7.9%
· January gold imports jump 55% to 57.2 tons (YoY)
· Economic Survey - Growth to top 8% in 2015-16
The crucial resistance for Nifty is now seen at 8905 and above this 8955. Support for the immediate term is now placed at 8810 and next support will be 8765.
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