Stocks|Nifty|Bank Nifty Tips : Updates Today

Nifty and Bank Nifty Tips and Updates for Today 4 July 2012

BANKNIFTYLEVELS: SUPP1: 10390 SUPP2: 10270, RES1: 10540 RES2: 10674. 

NIFTYSPOTLEVELS: SUPP1: 5142 SUPP2: 5035, RES1: 5340 RES2: 5385. 

Market Updates :-

• Debt Market Update: 10 year yield likely to move in the range of 8.13% - 8.17% level on Wednesday.
• UK’s construction index shrank at the fastest rate in 2.5 years in June, 2012 to 48.2 from 54.4 in May, 2012.
• US factory orders rose for the 1st time in 3 months in May, 2012 by 0.7% against a 0.7% drop in April, 2012.
• The IMF lowered US growth projections to 2% (vs 2.1% earlier) in CY12 and 2.25% (vs earlier 2.4%) in CY13.
• China’s slowdown dragged Hong Kong’s retail sales growth to 8.8% in May, 2012; the slowest pace since 2009.
• Government's procurement of wheat rose by 36% to a record 37.85 mn ton in the current marketing season so far.
• Nomura has lowered India's GDP growth projection for 2012 to 5.5% from 6.1%.
• As per sources, Educomp Solutions sacked 800-900 employees.
• Dishman Pharmaceuticals will scrap its 6 year old SEZ project and sell land near Ahmadabad for Rs6 bn.
• SBI waived minimum balance criteria for saving banks account.

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