NIFTY FUTURE
NIFTY
FUTURE :
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R1:8703
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R2:8729
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R3:8756
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PIVOT :8676
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S1:8650
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S2:8623
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S3:8597
|
DAILY CHART
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 ended with negative zone amid another lackluster day of
trades. Weak global cues, profit booking and a weak rupee subdued the Indian
equity markets on Friday. The domestic stock markets started last trading
session of the week on a flat note. Nifty closed with a loss of mere six points
at 8,667. The NSE Nifty opened at 8,694 hitting a high of 8,697 and low of
8,647. The BSE Mid-cap Index is trading up 0.39% at 13,019 whereas BSE
Small-cap Index is trading up 0.36% at 12,478. Some buying activity is seen in
consumer durable, metal, utilities, industrial, capital goods and banking
sectors, while telecom, IT and tack showing weakness on BSE.
The INDIA VIX is up 0.36% at 14.6025.
The INDIA VIX is up 0.36% at 14.6025.
STRATEGY:
Buy
Nifty Future above 8680 for the target of 8730 -8780 with the stop loss of 8610.
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
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SENSEX
|
28420
|
28280
|
28077.00
|
27980
|
27850
|
NIFTY
|
8775
|
8725
|
8666.90
|
8630
|
8590
|
NIFTYBANK
|
19700
|
19560
|
19414.70
|
19200
|
19050
|
NIFTYIT
|
11000
|
10875
|
10727.60
|
10600
|
10500
|
CORPORATE NEWS
Sun TV
Network Limited reported
a 19% increase in Net profit to Rs. 233 Cr for Q1 as against Rs. 195.8 Cr for
the same period last quarter. The Total Income from Operations increased by
10.3% to Rs. 760.8 Cr as compared to Rs. 689.4 Cr previously.
NHPC successfully commissioned the
4th unit of the Teesta Low Dam Hydro-Electricity Project. The electricity
generated will be allocated fully to the state of West Bengal and shall be
supplied through West Bengal State Electricity Distribution Company (WBSEDCL).
Dilip
Buildcon bagged
a Rs. 2,016 Cr project from the National Highway Authority of India (NHAI)
for a four-lane highway between Lucknow and Sultanpur under the National
Highways Development Project (NHDP).
nifty tips providers, stock future tips, nifty future tips, equity tips providers, equityresearchlab.com.
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