Nifty has again reached near to its crucial support of 7760 and breakdown from the same will trigger fresh selling. But, considering lined up events both on domestic and global front, we suggest trading index with option spreads rather going for a naked trade.
Nifty Future R1: 7848 R2: 7876 R3: 7895
Pivot: 7829 S1: 7801 S2: 7782 S3: 7754
CHART INTERPRETATION
Nifty is an near to first support 7770 below this level nifty will reach the second support of 7710.nifty also given the breakout below 61.80% according to Fibonacci.
Mechanical indicator stochastic also showing selling indication in nifty future.
INDEX OUTLOOK
NIFTY FUTURE:- Nifty slid almost 160 point over the last week due to , weak rupee, some selling pressure by foreign institutional investors and concerns over US interest rate hike, due later this month.
INTRADAY STRATIGY:- Sell Nifty in the range of 7790-7770 for target of 7730-7690 stop loss: 7870.
CORPORATE NEWS
Reliance Communication has signed a pact to sell its tower and optic fibre assets in India to private equity firms TPG and Tillman Global in a deal estimated at about Rs 30,000 crore.
Sun Pharmaceutical Industries surged almost 4% after one of its subsidiaries received USFDA approval to manufacture and market generic version of Novartis’ Gleevec, used in the treatment of cancer, in America.
SJVN said it signed a memorandum of understanding (MoU) with the Saurya Urja Company of Rajasthan for allocation of land in the solar parks being developed by them in Jodhpur and Jaisalmer.
If you want to more information regarding the nifty spot, nifty update stock market calls stock tips & many other call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php
Nifty Future R1: 7848 R2: 7876 R3: 7895
Pivot: 7829 S1: 7801 S2: 7782 S3: 7754
CHART INTERPRETATION
Nifty is an near to first support 7770 below this level nifty will reach the second support of 7710.nifty also given the breakout below 61.80% according to Fibonacci.
Mechanical indicator stochastic also showing selling indication in nifty future.
INDEX OUTLOOK
NIFTY FUTURE:- Nifty slid almost 160 point over the last week due to , weak rupee, some selling pressure by foreign institutional investors and concerns over US interest rate hike, due later this month.
INTRADAY STRATIGY:- Sell Nifty in the range of 7790-7770 for target of 7730-7690 stop loss: 7870.
CORPORATE NEWS
Reliance Communication has signed a pact to sell its tower and optic fibre assets in India to private equity firms TPG and Tillman Global in a deal estimated at about Rs 30,000 crore.
Sun Pharmaceutical Industries surged almost 4% after one of its subsidiaries received USFDA approval to manufacture and market generic version of Novartis’ Gleevec, used in the treatment of cancer, in America.
SJVN said it signed a memorandum of understanding (MoU) with the Saurya Urja Company of Rajasthan for allocation of land in the solar parks being developed by them in Jodhpur and Jaisalmer.
If you want to more information regarding the nifty spot, nifty update stock market calls stock tips & many other call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php
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