INDIAN BENCHMARKS: NEWS UPDATE

INDIAN BENCHMARKS, Bulls claw back: Nifty above 7800
                                                               
India's stock markets bounced back to post its biggest single-day percentage gain in a month on local media reports that the government would discuss a roadmap to roll out the proposed goods and services tax (GST) next month. The S&P BSE Sensex and CNX Nifty Trading Tips ended 0.58% and 0.57% higher each.
                                                                          
Major Headlines:

• October WPI at -3.81%
• JLR October 2015 global wholesale volumes up 26.9% YoY
• Petrol price hiked by 36 paise; diesel up 87 paise .                

The crucial resistance for Nifty is now seen at 7865 and above this 7905. Support for the immediate term is now placed at 7705 and next support will be 7675.