NIFTY REPORT 16 AUGUST 2016
NIFTY FUTURE
NIFTY FUTURE
NIFTY FUTURE :
|
R1:8715
|
R2:8753
|
R3:8804
|
PIVOT
:8664
|
S1:8627
|
S2:8576
|
S3:8538
|
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 stock
market opened higher tracking positive Asian shares. The BSE Sensex opened
60.35 points up at 27919.95, while Nifty 50 index opened 13.30 points up at
8605.45. Nifty closed with a gain of 80 points at 8,672. The NSE Nifty opened
at 8,605 hitting a high of 8,684 and low of 8,672. Nifty ended higher on
Friday following better-than-expected Q1 results from public sector lenders
like State Bank of India and Bank of India amid firm global cues. All wholesale commodity markets, including bullion and
metals, will remain closed on August 15 on account of Independence Day.
STRATEGY: Buy Nifty Future
above 8680 for the target of 8730 -8800 with the stop loss of 8620.
SECTORAL INDICES
Key Indices – Levels to watch out
for the day
|
|||||
INDEX (Spot)
|
RESISTANCE 2
|
RESISTANCE 1
|
LTP
|
SUPPORT 1
|
SUPPORT 2
|
SENSEX
|
28387
|
28270
|
28085
|
27967
|
27783
|
NIFTY
|
8753
|
8715
|
8664
|
8627
|
8538
|
NIFTYBANK
|
19209
|
19096
|
18912
|
18800
|
18615
|
NIFTYIT
|
11358
|
11266
|
11209
|
11117
|
11060
|
CORPORATE NEWS
Supreme Court in its
latest ruling has lifted the ban on diesel vehicles with engines larger than
2,000 cc in the Delhi NCR region. The concession has been made against the
clause of paying a 1% cess, which will be paid to the Delhi Pollution Control
Board. The government authority will then utilise this money to find ways to
lower pollution in Delhi. The payment will have to be made by the car maker before the vehicle can be registered and hence the payment will be made on the
ex-showroom prices. In case of non-payment, the vehicle will not be registered
by the concerned transport authority. This news comes as a great relief for
companies such as Mercedes-Benz, Tata Motors, Ford, Chevrolet and Toyota.
Sun Pharmaceutical Industries
Ltd has announced
the following consolidated results for the quarter ended June 30, 2016.The
company has posted a net profit after taxes, minority interest and share of
profit of associates and joint ventures of Rs.2033.71 crore for the quarter
ended June 30, 2016 as compared to Rs.555.90 crore for the quarter ended June
30, 2015. Total Income has increased from Rs.6925.60 crore for the quarter
ended June 30, 2015 to Rs.8400.09 crore for the quarter ended June 30, 2016.
State Bank of India has
announced the following results for the quarter ended June 30, 2016
The Unaudited Standalone results for the Quarter ended June 30, 2016
The Unaudited Standalone results for the Quarter ended June 30, 2016
The Bank has posted a net profit of Rs. 25209.60
million for the quarter ended June 30, 2016 as compared to Rs. 36924.30 million
for the quarter ended June 30, 2015. Total Income has increased from Rs.
447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million
for the quarter ended June 30, 2016.
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