Posted By : Kishore B.S
MARKET OUTLOOK 16-04-2014
“Expect market to open on a flat note on account of global cues. US market gained modestly and Asian markets (Nikkei up 2%) are a mixed bag. Infosys reported numbers as per expectations. The company’s EBIT margin expanded 50bp QoQ to 25.5%.
For the first time from past one month Nifty closed on the low point of the day, Bank Nifty and capital goods sectors are the major draggres.
Technically Nifty is reaching it’s impotant support at 6700, if that breaks some sell off in the market can be expected.”