NIFTY
FUTURE :
|
R1:8739
|
R2:8771
|
R3:8825
|
PIVOT :8685
|
S1:8654
|
S2:8600
|
S3:8568
|
CHART INTERPRETATION
The only strategy for the traders should be to hold long
positions or initiate fresh long positions at every dip in the market. And Expectations of a good monsoon
have once again reinforced the confidence among market participants that the
growth may come back on a good note, timely
onset of the monsoons will be a positive for the markets. A strong break below 8500 will
increase the downside pressure and drag it to 8400/8300. Traders can go short
on a break below 8500.On the other hand, a decisive break above 8635 will ease
the downside pressure and take the index futures higher to 8750 and 8900 thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY FUTURE: The Indian equity market closed with huge gains on
Friday erasing the entire weeks losses. The rally was led by the interest rate
sensitive stocks like banking, auto and realty. Metal, industrial, power,
and FMCG stocks were among the other major gainers. On the other hand, IT
and telecom stocks were among the major losers. Bharat Forge stock closed higher by
13% at Rs.814.The Company posted a net profit of Rs. 1220.60 million for the
quarter ended June 30, 2016 as compared to Rs. 1959.70 million for the quarter
ended June 30, 2015. PVR rallied by 10% at Rs.1225.
STRATEGY:
Buy
Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.
SECTORAL INDICES
Key Indices – Levels to watch out for the day
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|||||
INDEX (Spot)
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RESISTANCE 2
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RESISTANCE 1
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LTP
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SUPPORT 1
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SUPPORT 2
|
SENSEX
|
28475
|
28250
|
28078.35
|
27890
|
27750
|
NIFTY
|
8800
|
8730
|
8683.15
|
8625
|
8585
|
NIFTYBANK
|
19250
|
19110
|
18925.95
|
18730
|
18575
|
NIFTYIT
|
11400
|
11275
|
11137.05
|
11020
|
10875
|
CORPORATE NEWS
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visit :- equityresearchlab.com
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