Equity Research Lab :- Nifty Report 23 May 2017

Equity tips:-
      
NIFTY SPOT :   R1:9481                            R2:9519                       R3:9530
PIVOT : 9454    S1:9389                             S2:9416                        S3:9400

stock future tips

 

INDEX OUTLOOK 

Nifty is likely to open in a negative note. Momentum indicator like RSI is likely to wave red flag in the favour of bears. Bears are like to get served by bulls for today’s trading session. As we noticed nifty was trading at PE of 24.80 which is not suitable according to current scenario. We are expecting nifty to apply for a steep correction in upcoming trading sessions.

Strategy: short nifty around 9475 with a stop loss of 9510 for the target of 9430
 

SECTORIAL INDICES

 CORPORATE NEWS  

Results Today: Tata Motors, Jindal Steel & Power, NCC, Torrent Power, Voltas, Prabhat Dairy, Sequent Scientific, Novartis India, Radico Khaitan, Kolte Patil, Jubilant Life Sciences, Johnson Controls Hitachi Air Conditioning, Entertainment Network, Essel Propack, Bharat Gears, Capital Trust, Century Plyboards, Future Retail, Cineline India, Clariant Chemicals, Cupid, DCM Shriram Industries, Balaji Telefilms, Ballarpur Industries, Advani Hotels Resorts, Genus Power Infrastructures, Goodricke Group, Grindwell Norton, Himatsingka Seide, Hindustan Composites, Indowind Energy, Ind-Swift Laboratories, Infinite Computer Solutions India, Ingersoll-Rand, Ion Exchange, J B Chemicals, JHS Svendgaard Laboratories, Moser Baer, Oriental Carbon Chemicals, PPAP Automotive, Saurashtra Cement, Shriram EPC, Subros, TCI Express, APL Apollo Tubes, TRF

• Reliance Comm Says: CARE Downgrades Co’s Long-Term Loans To BB From A-; Put On Credit Watch CARE Downgrades Co’s Short-term Loans From A2+ to ‘A4; CARE Puts Co’s Loans On Credit Watch With Developing Implications SRF setting-up of a facility to produce agrochemical at SRF's Chemical Complex in Dahej, Gujarat at an estimated cost of Rs. 180 Crores 
• Prakash Industries Issuance of New FCCBs 
• MT Educare subsidiary Lakshya Educare, has been sanctioned a long term debt facility from Xander Finance (Xander) of Rs 110 crore 
• Shipping Corporation of India (SCI) Has given physical delivery of its 1 container vessel m.v. ‘Indira Gandhi' to its buyer 
• Adani Enterprises Company to delay decision on Australis mine 
• Clariant Chemicals Swiss group Clariant (global parent) announced an all-stock deal to merge with the US-based Huntsman Corp

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