NIFTY REPORT 12/08/16
NIFTY FUTURE
NIFTY FUTURE
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NIFTY FUTURE :
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R1:8639
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R2:8667
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R3:8704
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|
PIVOT
:8602
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S1:8574
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S2:8537
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S3:8509
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DAILY CHART
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.
NIFTY OUTLOOK
NIFTY FUTURE: Nifty ended in green on Thursday
on account of buying in frontline blue chip counters. Sensex closed 84.72
points up , while Nifty settled 16.85 points up . Midcap index ended 0.03% up,
while Smallcap index ended 0.02% lower. Escorts shares soared as much as
19.99 % after the company announced the divestment of its OEM and export
business of Auto Product division to Badve Engineering Ltd in an all cash deal
as a part of the planned strategic reorientation of the business to focus on
core verticals in the agri-machinery, construction equipment and railway
equipment. Escorts auto products business caters to OEMs and replacement market
globally for all vehicle including
commercial vehicles, and multi-utility vehicles.
STRATEGY: Sell Nifty
Future Below 8600 for the target of 8550 -8500 with the stop loss of 8670.
SECTORAL INDICES
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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
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28200
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28020
|
27859.60
|
27700
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27560
|
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NIFTY
|
8700
|
8640
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8592.15
|
8540
|
8500
|
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NIFTYBANK
|
19020
|
18850
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18640.40
|
18440
|
18280
|
|
NIFTYIT
|
11420
|
11310
|
11222.20
|
11100
|
11000
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CORPORATE NEWS
Bank of
Baroda reported
a 60% yoy drop in Net profit to Rs. 423.6 Cr in Q1 as compared to Rs. 1,052.1
Cr in the same period last fiscal. Gross NPAs grew to 11.15% from 9.99% and Net
NPAs increased to 5.73% from 5.06% sequentially. Provisions for NPAs increased
significantly to Rs. 2004 from 599.7 Cr.
Gujarat
Pipavav Port Limited (GPPL)
reported a 60% upside in Net profit to Rs. 59.7 Cr for Q1 as compared to Rs.
37.2 Cr for the same period last fiscal. Total Income from operations declined
to Rs. 167.2 Cr from Rs. 184.6 Cr. Expenses during the quarter dropped to Rs.
92 Cr from Rs. 110 Cr previously.
Tyre-maker MRF reported
lukewarm numbers as Total Income for the quarter stayed flat at Rs. 3,481.9 Cr
from Rs 3477.1 Cr previously. Net profit was up by merely 2.2% to Rs. 490.9 Cr
from Rs. 479.5 Cr previously.
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