NIFTY FUTURE
|
NIFTY
FUTURE :
|
R1:8631
|
R2:8681
|
R3:8713
|
|
PIVOT :8599
|
S1:8550
|
S2:8518
|
S3:8469
|
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 thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY
FUTURE:
The Indian stock market opened flat on Wednesday and slipped further
amid weak global cues. FM Arun Jaitley has introduced the GST
Constitutional Amendment Bill in the Rajya Sabha, saying GST was first
mentioned in 2006 Budget. standard GST rate
should be 18% for most goods and services tax, which will be the non
inflationary, efficient way of tax rate and acceptable by public. If the
government doesn't care about inflation, will of people, efficiency, go ahead
& charge 24%. It defeats the purpose of GST. The Nikkei India Services PMI
rose to 51.9 in July from 50.3 in June. The reading for July was the highest in
three months.
STRATEGY:
Sell
Nifty Future below 8525 for the target of 8475 -8425 with the stop loss of 8600.
SECTORAL INDICES
|
Key Indices – Levels to watch out for the day
|
|||||
|
INDEX (Spot)
|
RESISTANCE 2
|
RESISTANCE 1
|
LTP
|
SUPPORT 1
|
SUPPORT 2
|
|
SENSEX
|
28120
|
27900
|
27697.51
|
27540
|
27390
|
|
NIFTY
|
8685
|
8620
|
8544.85
|
8500
|
8460
|
|
NIFTYBANK
|
19025
|
18800
|
18602.00
|
18400
|
18240
|
|
NIFTYIT
|
11400
|
11275
|
11181.40
|
11020
|
10875
|
CORPORATE NEWS
·
HCL Technologies reported
a 14.8% (YoY) jump in net profit to Rs. 2,051 Cr and a 15.9% (YoY) jump in
revenues to Rs. 11,336 Cr. Sequentially, the profits and revenues grew by 6 and
6.3% respectively. The company announced a robust guidance where it expects to
grow by 12-14% in the current fiscal.
·
Emami reported a
34.6% drop (YoY) in net profits to Rs 56.6 Cr due to higher finance, tax and
amortization costs. Total Income grew by 20% to Rs. 644 Cr from Rs. 537.2 Cr in
the corresponding quarter last fiscal. Operating Profit (EBITDA) increased by
49.1% to Rs. 147.2 Cr showing an expansion of 450 basis points in
the margin to 22.9%.
the margin to 22.9%.
·
·
The service sector output in India has
shown a significant uptrend according to Nikkei
India Services Business Activity Index. The index figure stood
at 51.9 for July 2016 as compared to 50.3 in June 2016.
E Share market tips, nifty future tips, derivative services,equity research lab, nifty tips, stock future tips
No comments:
Post a Comment