Equity Research Lab :- NIFTY SPOT: 7954.90

!!!! Nifty is inching higher and possibility of profit taking is quite high in near future. Traders should uphold positive yet cautious approach and keep the trading portfolio balanced or add defensives like FMCG and Pharma.  !!!

Nifty Future R1: 7973 R2: 7991 R3: 8011

Pivot: 7953 S1: 7935 S2: 7915 S3: 7897

Chart Interpretation :-


Nifty has an near term resistence placed at 7940, above which it may touch 8050level.
Nifty is sustaining above 23% retracement where near support is placed at 7912.
Mechanical indicator RSI trading near 50 mark sign while MACD is also positive poised.

Corporate news :-

The Reserve Bank of India (RBI) kept its benchmark interest rate viz. the repo rate unchanged at 6.75% after a monetary policy review. The central bank also kept the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).

 According to the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) manufacturing activity in the country fell to a 25-month low of 50.3 in November against 50.7 in October.

 Mahindra & Mahindra's (M&M) total auto sales rose 21% to 41,590 units in November 2015 over November 2014. Domestic auto sales rose 23% to 39,383 units in November 2015 over November 2014.

Index Outlook :-

NIFTY FUTURE:-  The Nifty is likely to open in the green around 8000 level with indicator SGX Nifty trading at 8000, up 15 points.

INTRADAY STRATIGY:-
  Buy Nifty in the range of 7965-7975 for target of 8000-8025, stop loss: 7930

If you want to more information regarding the nifty spot, and many other share market calls & tips like Stock future tips, Stock tips, Commodity tips, MCX trading tips call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php




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