NIFTY FUTURE TIPS | TODAY NIFTY REPORT 02/08/16 BY EQUITYRESEARCHLAB.

NIFTY FUTURE

NIFTY FUTURE :	R1:8744	R2:8807	R3:8867
PIVOT :8684	S1:8621	S2:8561	S3:8499

DAILY CHART

Nifty positive movement would continue till 8750-8900 levels  .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.

INDEX OUTLOOK

NIFTY FUTURE: Nifty closed with a loss of mere two points at 8,636. The NSE Nifty opened at 8,654 hitting a high of 8,711 and low of 8,591. INDIA VIX is up 2.27% at 15.2575. On the economy front, India's Manufacturing PMI inched up to 51.8 points in July against 51.7 in the previous month, indicating a further improvement in overall business conditions across the sector. The Indian rupee opened higher by 22 paise at 66.80/$ against US Dollar Monday as against the previous close of 67.02/$. Some buying activity is seen in metal, IT, teck and telecom sectors.

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
INDEX (Spot)	RESISTANCE 2	RESISTANCE 1	LTP	SUPPORT 1	SUPPORT 2
SENSEX	26772	26585	26248	26060	25723
NIFTY	8807	8744	8684	8621	8561
NIFTYBANK	19376	19111	18914	18649	18453
NIFTYIT	11325	11248	11101	11024	110877

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CORPORATE NEWS

Tata Motors passenger and commercial vehicle sales (including exports) in July 2016 were at 43,160 vehicles, a growth of 7%, over 40,154 vehicles sold in July 2015. The company’s domestic sales of Tata commercial and passenger vehicles for July 2016 was at 37,789 nos., a growth of8%, over July 2015. The Company continued to witness year-on-year growth in certain key segments in July 2016, with the company’s LCV sales growing by 5% and its passenger cars growing by 43%. Cumulative sales (including exports) of the company for the fiscal was at 166,889 nos., higher by 7% over 156,658 vehicles, sold last year.

The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs) / Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24 per cent up to 40 per cent of the paid up capital of J. Kumar Infraprojects Ltd. under the Portfolio Investment Scheme (PIS).

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