NIFTY REPORT | EQUITY MARKET TIPS | TODAY REPORT 19 JULY 2016.

 NIFTY SPOT: 8508.70

                         
        

Nifty Future	R1: 8579	R2:8638	R3: 8673
Pivot: 8544	S1: 8485	S2:8450	S3:8391

CHART INTERPRETATION

ü  Indian Stock Market is still in positive zone. Overall Market has seen a breakout and we would see sharp positive movements in days to come. Next target is 8650-8700 for Nifty. If upcoming results support then this positive movement would continue till 8700 levels for Nifty .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 8650 and 8700 thereafter.

Mechanical indicator stochastic RSI  also showing consolidated trend.

 

 NIFTY FUTURE:  Nifty closed with a loss of 33 points at 8,509. The NSE Nifty opened at 8,564 hitting a high of 8,587.10 and low of 8,494.35. Wiping out most of its early gain the Indian stock market closed lower on Monday. Traders are eyeing the monsoon session of parliament, which begins today, amid expectations that the key GST Bill may be passed soon.

    STRATIGY: Sell Nifty Future below 8500   for the tgt of 8450-8400 with sl of 8575.

 

Key Indices – Levels to watch out for the day
INDEX (Spot)	RESISTANCE 2	RESISTANCE 1	LTP	SUPPORT 1	SUPPORT 2
SENSEX	28075	27920	27746.66	27560	27400
NIFTY	8600	8565	8508.70	8450	8400
NIFTYBANK	19250	19100	18923.40	18775	18580
NIFTYIT	11000	10880	10735.10	10600	10450

• ICICI Prudential Life Insurance Co. Ltd filed the draft red herring prospectus for its initial public offering today. ICICI bank will offload its stake in the insurance firm. The IPO will be the first public offering of a life insurer in India. The company started operations in 2000 as a JV between ICICI bank Ltd and Prudential Corp Holdings Ltd. Currently, ICICI bank holds 67.6% stake in the life insurance firm while Prudential holds 25.9%.
• Hindustan Unilever Ltd. reported disappointing Q1FY17 results with muted volume growth of 4%. Revenues increased by 3% yoy to Rs 8,128crs while PAT was up 9.8% yoy to Rs 1,174cr in Q1FY17. The stock price reacted to poor results and it closed 2% down.
• The telecom stocks plunged 3-6% reacting to the news that leading telecom incumbents have slashed rates of 3G and 4G internet packs by 67%. We believe this move was taken considering RJio’s expected entry in Indian telecom market with dearth cheap data packages. Data alone accounts for ~40% revenue for telecom operators. We believe stiff data price war will not only weigh on revenues but also will squeeze margins in medium term.
  
  

                                                                                                                                                                                                                   

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