Market Trend

Market with good situation, during the afternoon trading session at BSE, RIL reported the top gainer from the Sensex pack, as the stock is now trading high by (2.59 per cent), while Bharti Airtel dipped by 3.87 per cent in the afternoon session.

At 2:25 PM BSE SENSEX was at 17,044.64 up by 122.56 points or by (0.72 per cent) and the NSE Nifty was trading at 5,120.10, up by 41.50 points or by (0.82 per cent). The BSE MIDCAP was at 6,889.98 up by 24.24 points or (0.35 per cent) and the BSE SMLCAP was at 8,638.88 up by 38.99 points or by (0.45 per cent).

Nifty For Monday 14th June

Nifty still didn’t cross the key short term resistance zone of 5200 to 5220, closing above this resistance zone may be considered as an indication of trend reversal & we could expect more bounce from there. As per the current trend of Nifty Futures we could expect that it could hold the trading range of 5000 to 5200 for few trading sessions. We recommend that traders should watch out the level of 5200 and if it not crossed then one could short for the target of 5000 to 5005 in near term.

Reliance to buy Infotel for $1 bn- COVER STORY

Reliance Industries, controlled by billionaire Mukesh Ambani, will buy Infotel Broadband Services for $1 billion, marking the re-entry of India’s largest-listed firm into the booming telecom market.Reliance will invest about Rs4,800 crore by subscribing to fresh equity capital at par to be issued by Infotel Broadband. Reliance will own 95% of Infotel, which will function as a unit of the company.Shares in Reliance closed up 3% at Rs1,046.25 in a Mumbai market that rose 0.8%.

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