Equity Research Lab :- Nifty Report 28th June.

NIFTY TIPS

 NIFTY SPOT: 8094.70

Nifty Future    R1: 8140    R2:8176    R3: 8222
Pivot: 8094      S1: 8058     S2:8012     S3:7976

Nifty Tips

   CHART INTERPRETATION  

• Nifty closed on at 8094.70 On Monday. Next logical targets for nifty would be 8050-8000 and breaching of 8000 would force nifty to see levels of 7900. whereas the 8150-8200 will act as very strong resistance levels, if once it go to 8200 then there will higher probability for nifty to touch 8225-8250 levels. 

• Mechanical indicator stochastic RSI also showing consolidated trend.  

    INDEX OUTLOOK    

NIFTY FUTURE:- Finally, the Sensex ended with a gain of more five points at 26,403. Sensex opened at 26,348 touched an intra-day high of 26,494 and low of 26,263. While Nifty closed with a gain of seven points at 8,095. On the global front, Asian markets closed on a mixed note. The Shanghai Composite index closed higher. Hong Kong’s Hang Seng index ended lower, while Nikkei 225 jumped 1.4%. European markets were trading lower. The FTSE 100 was trading down 1.3%. DAX and the CAC 40 were trading lower 2% each. Mid-cap Index is trading up 0.68% at 11,389, whereas BSE Small-cap Index is trading up 1.44% at 11,441. On the economy front, Chief Economic Advisor Arvind Subramanian said that Brexit from the European Union, was a sad development but India would not be affected by it due to India’s solid macroeconomic.

INTRADAY STRATIGY:- Sell Nifty future above 8100 for the tgt of 8050-8000 sl 8170. 

   SECTORIAL INDICES   

    CORPORATE NEWS   

• Indian Meteorological Department announced that the Monsoon rains are likely to end later than usual this year. This could see heavy rains towards the latter stages of the season and would help the farmers to recover from two straight droughts in the previous years. 
• Shares of Bajaj Finserv went up by 4.25% after reports suggested that the company plans to buyout German Firm Allianz SE’s stake in its insurance firms – Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. 
• Aban Offshore received a contract from ONGC for the deployment of its drillship Aban Abraham, for a period of 2 years. The shares of the company went up by 3.3%. 

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Equity Research Lab :- Nifty Report 24th June.

Nifty Tips

NIFTY SPOT: 8270.45 

Nifty Future     R1: 8329      R2:8376      R3: 8446
Pivot: 8259       S1: 8212       S2:8142       S3:8095

 CHART INTERPRETATION   

• Nifty closed on at 8270.45 On Thursday. Bulls and bears have been indecisive. Recovery may be continuing above 8200 levels else selling pressure may be seen. On upside, Nifty has important resistance at 8355 levels. On downside, support is at 8150 levels.
• Mechanical indicator stochastic RSI also showing consolidated trend.

  INDEX OUTLOOK   

NIFTY FUTURE:- Nifty closed with a gain of 67 points at 8,270. The NSE Nifty opened at 8,201 hitting a high of ,286 and low of 8,188. After being cautious for the past two trading sessions, stock market in India surged higher on Thursday tracking a strong upswing in the European equity markets as UK voters began to cast ballots on 'Brexit' referendum. The rally was sparked by buying in the banking, auto, Financials, industrial, pharma, consumer durables and oil & gas stocks. On the other hand, realty, telecom and power were among the major losers on BSE.

INTRADAY STRATIGY:- Buy Nifty future above 8300 for the tgt of 8350-8400 sl 8230.

  SECTORIAL INDICES   

  CORPORATE NEWS  

• NTPC share prices declined by almost 2% after the government decided to distribute an additional 5% stake to the company’s employees at a considerable discount, raising concerns over a fall in the Earnings per Share (EPS) of the company.
• Shares of KEC International rose by 3.5% after the company bagged orders of Rs. 1,036 crores. In transmission and distribution segment, they secured orders worth Rs. 666 crores from the Middle East and Americas regions. Orders worth Rs. 317 crores from Indian Railways and Rs. 53 crores in the Power and Telecom Cables segment were also secured.
• Mahanagar Telephone Nigam Limited (MTNL) shares rose by 4.3% after the company announced that it will submit its revival plan to the Department of Telecommunications (DoT). The plan intends to take the loss making telecom firm out of the red zone.

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Equity Research Lab :- Nifty Report 24th June.

Nifty Tips

NIFTY SPOT: 8270.45 

Nifty Future     R1: 8329     R2: 8376     R3: 8446

Pivot: 8259       S1: 8212      S2: 8142      S3: 8095

 CHART INTERPRETATION   

• Nifty closed on at 8270.45 On Thursday. Bulls and bears have been indecisive. Recovery may be continuing above 8200 levels else selling pressure may be seen. On upside, Nifty has important resistance at 8355 levels. On downside, support is at 8150 levels.
• Mechanical indicator stochastic RSI also showing consolidated trend.

  INDEX OUTLOOK   

NIFTY FUTURE:- Nifty closed with a gain of 67 points at 8,270. The NSE Nifty opened at 8,201 hitting a high of ,286 and low of 8,188. After being cautious for the past two trading sessions, stock market in India surged higher on Thursday tracking a strong upswing in the European equity markets as UK voters began to cast ballots on 'Brexit' referendum. The rally was sparked by buying in the banking, auto, Financials, industrial, pharma, consumer durables and oil & gas stocks. On the other hand, realty, telecom and power were among the major losers on BSE.

INTRADAY STRATIGY:- Buy Nifty future above 8300 for the tgt of 8350-8400 sl 8230.

  SECTORIAL INDICES   

  CORPORATE NEWS  

• NTPC share prices declined by almost 2% after the government decided to distribute an additional 5% stake to the company’s employees at a considerable discount, raising concerns over a fall in the Earnings per Share (EPS) of the company.
• Shares of KEC International rose by 3.5% after the company bagged orders of Rs. 1,036 crores. In transmission and distribution segment, they secured orders worth Rs. 666 crores from the Middle East and Americas regions. Orders worth Rs. 317 crores from Indian Railways and Rs. 53 crores in the Power and Telecom Cables segment were also secured.
• Mahanagar Telephone Nigam Limited (MTNL) shares rose by 4.3% after the company announced that it will submit its revival plan to the Department of Telecommunications (DoT). The plan intends to take the loss making telecom firm out of the red zone.

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Equity Research Lab :- Nifty Report 23rd June.

Nifty Tips

NIFTY SPOT: 8203.70

 Nifty Future     R1: 8254     R2:8303      R3: 8353 
 Pivot: 8204       S1: 8154      S2:8104       S3:8055

NIFTY TIPS

 CHART INTERPRETATION   

• Nifty closed on at 8203.70 On Wednesday. Bulls and bears have been indecisive. Recovery may be continuing above 8200 levels else selling pressure may be seen. On upside, Nifty has important resistance at 8250 levels. On downside, support is at 8050 levels.
• Mechanical indicator stochastic RSI also showing consolidated trend.

  INDEX OUTLOOK   

NIFTY FUTURE:- At 3:30 PM, the S&P BSE Sensex ended at 26,765 down 47 points, while NSE Nifty is trading at 8,203 down 16 points. The BSE Mid-cap Index is trading down 0.12% at 11,405, whereas BSE Small-cap Index is trading down 0.60% at 11,450. The INDIA VIX is up 5.35 % at 18.1850. Out of 1,815 stocks traded on the NSE, 1062 declined, 507 advanced and 247 remained unchanged today. The Indian rupee opened lower by 9 paise at 67.59/$ against US Dollar on Wednesday as against the previous close of 67.48/$.

INTRADAY STRATIGY:- Buy Nifty future above 8210 for the tgt of 8260-8320 sl 8140.

  SECTORIAL INDICES   

  CORPORATE NEWS  

• Shares of Max Ventures and Industries, one of the three companies formed after the demerger of Max India Limited hit the upper circuit of 5% after being listed on the bourses for the first time on Wednesday.
• Force Motors inaugurated their new 100 crores facility in Pune. The plant is meant to supply engines and axles to Mercedes-Benz.
• Shares of Tata Coffee went up by 7.47% after coffee prices gained further, hitting a 13 month high level. Heavy rains at the time of harvest can hit the coffee crop. Hence, coffee might not turn out to be a bumper crop as it was projected for this year..

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Equity Research Lab :- Nifty Report 22nd June.

Nifty Tips

NIFTY SPOT: 8219.90

Nifty Future      R1: 8250     R2:8275       R3: 8297
Pivot: 8227        S1: 8202      S2:8180       S3:8155

Nifty Tips

 CHART INTERPRETATION   

• Nifty closed on at 8219.90 On Tuesday. Bulls and bears have been indecisive. Recovery may be continuing above 8200 levels else selling pressure may be seen. On upside, Nifty has important resistance at 8250 levels. On downside, support is at 8050 levels.
• Mechanical indicator stochastic RSI also showing consolidated trend.

  INDEX OUTLOOK   

NIFTY FUTURE:- Nifty closed at 8225.10 on Tuesday. After gaining for two consecutive trading sessions, the Indian equity market closed lower on Tuesday. Profit booking combined with negative global cues and a weak rupee dampened the sentiment. Market participants also were cautious ahead of the UK referendum scheduled on Thursday. In addition, investors were also seen concerned about US Federal Reserve Chairperson Janet Yellen's testimony to the US Congress. The testimony can provide further cues towards the next phase of the key lending rate hikes.Today’s decline was led by the power, utilities, banking, pharma and IT stocks. On the other hand, auto, oil and gas, consumer durables and energy stocks were among the major gainers. 

INTRADAY STRATIGY:- Buy Nifty future above 8250 for the tgt of 8300-8350 sl 8170.

  SECTORIAL INDICES   

  CORPORATE NEWS  

• Mandhana Industries declined 20% as the company is in the process of demerging its retail business. The company assured that there is no disruption in its normal and ongoing business activities.
• Maruti Suzuki is ramping up production of premium hatchback Baleno to meet current demand and reduce waiting period. The company has over 45,000 outstanding bookings for Baleno and waiting period of 6-8 months depending on the variant.
• Textile stocks surged on news of cabinet meeting to be held on Wednesday to consider the much awaited textile policy. Stocks like Arvind, Nandan Denim, Raymond, Kitex garments, Bombay Dyeing, etc jumped on the news.

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NIFTY SPOT: 8140.75 EQUITY RESEARCH LAB

Nifty Tips :- 

Nifty Future R1: 8206    R2:8254     R3: 8315

Pivot: 8145  S1: 8097    S2:8036     S3:7988

CHART INTERPRETATION :-

Nifty spot close at 8140.75 on  Thursday . At higher side, important level 8200-8250. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 8000. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 8060-7950.

At lower side nifty support level may be in the range of 7800-7700.

Mechanical indicator stochastic RSI  also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-

Nifty closed at 8158.75 on Thursday. After taking a breather in the previous session, the bears were back on the dalal street. The indices extended decline to hit fresh intraday low in mid-morning trade.Weakness were seen in Asian stocks after the Bank of Japan and the US Federal Reserve deciding to keep interest  rates on hold weighed on domestic bourses. On the economy front, India's merchandise exports fell 0.79% at $22.17 billion in May 2016 over May 2015. Non-petroleum exports rose 1.01% at $20.19 billion in May 2016 over May 2015. Imports fell 13.16% at $28.44 billion in May 2016 over May 2015.
        
INTRADAY STRATIGY:-
Buy Nifty future above 8150 for the tgt of 8200-8250 sl 8070.

CORPORATE NEWS :-

Bank of Japan kept its policy rates unchanged and refrained from any further stimulus measure citing uncertainties in emerging economies and commodity exporting countries, impact of US monetary policy on global financial markets, Europe’s debt problem as well as geopolitical risks.

India’s trade deficit in May widened to $6.27 bn as exports shrank 0.79% to $22.17 bn and imports declined 13.16% to $28.44 bn on YoY basis.

3I Infotech Limited shares jumped 18% to Rs. 5.30 after the company said corporate debt restructuring panel approved debt restructuring scheme. The lenders approved converting 40% debt into equity shares.

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NIFTY SPOT: 8206.60 Equity Research Lab

Nifty tips :- 

Nifty Future R1: 8267    R2:8313    R3: 8394

Pivot: 8186 S1: 8140 S2:8058    S3:8012

CHART INTERPRETATION :-

Nifty spot close at 8206.60 on  Wednesday . At higher side, important level 8200-8250. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 8000. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 8060-7950.

At lower side nifty support level may be in the range of 7800-7700.

Mechanical indicator stochastic RSI  also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE:- 

Nifty closed at 8221.35 on Wednesday. After falling for four consecutive trading sessions, the Indian equity markets finally made a strong comeback amid positive vibes coming from the Asian and European markets. The market rallied after Union Cabinet approved new civil aviation policy and merger of 5 associates with SBI.

The buying was so fierce that not a single sectoral index on the BSE ended with losses; power, capital goods, banking, oil and gas, utilities, industrial and FMCG stocks ended with the top gainers. Even the mid-cap and the small-cap stocks participated in today’s rally. Going ahead, all eyes would be on the verdict of the two-day FOMC meet and the BOJ meet later today.
         
INTRADAY STRATIGY :-

Buy Nifty future above 8230 for the tgt of 8280-8320 sl 8150.

CORPORATE NEWS :-

•    The union cabinet approved the merger of State Bank of India (SBI) with its associate banks. Shares of State Bank of Mysore and State Bank of Bikaner Jaipur rose by 20%. State Bank of Travancore rose by 19.99%, whereas SBI shares surged by 3.6%.

•    Airline Stocks – Interglobe Aviation, Spicejet & Jet Airways showed an uptick after the union cabinet approved the long awaited Civil Aviation Policy.

•    Shares of Sintex industries went up by 5.86% after the National Stock Exchange (NSE) decided to include the stock in the Futures and Options segment.

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EQUITY RESEARCH LAB :- NIFTY SPOT: 8110.60

Nifty tips :- 

Nifty Future   R1: 8147       R2:8174      R3: 8209
        
Pivot: 8111    S1: 8084       S2:8049      S3:8022

CHART INTERPRETATION :-

Nifty spot close at 8110.60 on  Tuesday . At higher side, important level 8150-8250. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 8000. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 8000-7950.

At lower side nifty support level may be in the range of 7800-7700.

Mechanical indicator stochastic RSI  also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 8130.65 on Monday The Indian equity market ended on a flat note on Tuesday amid a volatile trading session. After opening with a positive bias, indices slipped gradually throughout the day led by selling pressure in the energy, IT, oil & gas and telecom stocks. However, sudden bout of  buying in the realty, metals, PSU banks and FMCG stocks in late trades aided the Nifty to bounce back sharply  and close above the 8100 mark. The BSE Midcap and Smallcap index closed marginally higher too.Market participants remained cautious ahead of the US Federal Reserve's two-day meeting that begins later in the day and worries over a referendum in Britain next week about whether to exit the European Union.
        
INTRADAY STRATIGY:-

  Buy Nifty future above 8150 for the tgt of 8200-8250 sl 8070.

CORPORATE NEWS :-

•    The Wholesale Price Index (WPI) for May increased at 0.79% after rising 0.34% in April and falling by 2.20% in May 2015. This is the second straight increase in WPI which came after, a seventeen month falling spree.

•    Shares of Deepak Fertilizers and Petrochemicals rose by 4.5% after the Ministry of Petroleum and Chemical agreed to release Rs 485 crores of outstanding subsidy money. The claims were due to the company in accordance with the Nutrient Based Subsidy (NBS).

•    Shares of Public Sector Banks rallied up to 8% after the RBI announced a scheme for sustainable structuring of stressed assets. The scheme would allow the banks to convert up to half the loans taken by corporate borrowers into equities and take control of the company.

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Nifty Future R1: 8301 R2:8318 R3: 8338

Nifty tips :- 

Nifty Future  R1: 8301    R2:8318    R3: 8338

Pivot: 8281   S1: 8264    S2:8244    S3:8227

CHART INTERPRETATION :-

Nifty spot close at 8273.05 on Wednesday . At higher side, important level 8300-8500. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 8000. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 8000-7950. At lower side nifty support level may be in the range of 7800-7700.

Mechanical indicator stochastic RSI  also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 8284.20 on Wednesday . After opening on a flat note, indices were stuck in a narrow trading range throughout the day clocking in minuscule gains. The power, capital goods, industrials and utilities stocks were among the major gainers. On the other hand, IT and healthcare stocks were under pressure. The India VIX (Volatility) index was up 1.83% at 15.1420.

INTRADAY STRATIGY :-

Buy Nifty future above 8300 for the tgt of 8350-8400 sl 8230.

CORPORATE NEWS :-

The Indian Rupee closed higher on Wednesday on increased selling of the US currency by exporters and banks amid higher foreign fund inflows. However, weak dollar against other currencies overseas also boosted the rupee sentiment. The rupee rallied for the fifth consecutive session and hit a four-week high against the US dollar.

Bharat Forge surged 2.2% to Rs.765 on BSE. The company announced that its joint venture with GE, Alstom Bharat Forge Power has signed a contract worth $219 million approximately (Rs.1495 crore) with NTPC.

Rajesh Exports dropped 1.4% to Rs.495. The company has announced that it has bagged Rs. 653 crores worth export order.

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NIFTY SPOT: 8201.05 EQUITY RESEARCH LAB

Nifty tips :-

Nifty Future R1: 8255 R2:8281 R3: 8306

Pivot: 8230 S1: 8204 S2:8179 S3:8154

CHART INTERPRETATION :-

Nifty spot close at 8201.05 on Monday. At higher side, important level 8250-8500. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 8000. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 8000-7950.

At lower side nifty support level may be in the range of 7800-7700. Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 8229.80 on Monday . After opening on flat note, indices were stuck in a narrow trading range throughout the day.

Investors maintained cautious approach ahead of Reserve Bank of India’s (RBI) monetary policy review due on Tuesday.

Benchmarks slipped lower towards the fag end led by selling pressure in the telecom, consumer durables, teck, oil and gas, pharma and IT stocks.

On the other hand, realty, capital goods, utilities and basic materials stocks ended with gains.

INTRADAY STRATIGY :-

Buy Nifty future above 8250 for the tgt of 8300-8350 sl 8170.

CORPORATE NEWS :-

India jumped 13 positions to 2nd on ease of doing business. The rankings are according to the GRDI (Global Retail Development Index), which ranks top 30 developing countries for retail investments worldwide.

Japanese conglomerate Sumitomo buys 45% stake in Mumbai based Pesticides and Agro-Chemical Company, Excel Crop Care. A bid of further 30% stake is also launched by Sumitomo, in order to complete the takeover.

Shares of Steel Strips rallied by 5.35% after their promoter increased their stake in the company through the open market purchase. The stake of the promoters increased to 59.83% from 59.66% previously.

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NIFTY SPOT: 8156.65 EQUITY RESEARCH LAB

Nifty tips :- 

Nifty Future R1: 8207 R2:8241 R3: 8301

Pivot: 8147 S1: 8112 S2:8052 S3: 8017

CHART INTERPRETATION :-

Nifty spot close at 8156.65 on Friday . At higher side, important level 7980-8000. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800. At lower side nifty support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE:- Nifty closed at 8172.45 on Friday . Global markets had one of their best weeks in recent months as most indices ended firmly in the positive zone. New US single-family home sales surged to a more than eightyear high in April and prices hit a record high, offering further evidence of a pick-up in economic growth. Closer home, the Sensex notched smart gains of around 5 per cent for the week on strong buying in infrastructure, banks and other select stocks. L&T came out with stellar set of numbers which beat expectations. SBI results were also better. Signs of good monsoons and expectations of corporate profit growth rebounding in the coming quarters propelled markets to higher levels.

INTRADAY STRATIGY:-

Buy Nifty future above 8200 for the tgt of 8250-8300 sl 8130.

CORPORATE NEWS :-

Lupin gets clean EIR (Establishment Inspection Report) from US FDA for its Mandideep facility which means that the facility can operate freely. Earlier US FDA raised some observations on Lupin’s Mandideep facility which is significant contributor to its total revenue.

Foreign Direct Investment in India surged 16.5% to $2.46 billion in March against $2.11 billion in a year ago period. For the entire financial year 2015-16, FDI stood at $40 billion compared to $30.93 in FY15 as per DIPP (Department of Industrial Policy and Promotion).

SBI reported a 66.32% drop in net profit for Q4. The net profit stood at Rs. 1,260 crores compared to Rs. 3,742 cr in the same quarter last year. Gross NPAs increased by 140 basis points sequentially to 6.5% and Net NPA’s increased by 92 basis points to 3.81%. Whereas, the net interest income (NII) went up by 3.9% in the fourth quarter.

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NIFTY SPOT: 8069.65 EQUITY RESEARCH LAB

Nifty tips :- 

Nifty Future R1: 8107 R2:8153 R3: 8231

Pivot: 8029 S1: 7984 S2:7905 S3:7860

CHART INTERPRETATION :-

Nifty spot close at 8069.65 on Thursday . At higher side, important level 7980-8000. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800. At lower side nifty support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK  :-

NIFTY FUTURE :-

Nifty closed at 8062.65 on Thursday . Bulls have taken complete control over market on Thursday, the expiry day for May Nifty derivative contracts. Value buying in infra (majorly L&T) and banks helped the Sensex (that rallied more than 500 points intraday) and Nifty end at fresh 2016 closing high.

INTRADAY STRATIGY :-

Buy Nifty future above 8100 for the tgt of 8150-8200 sl 8030.

Disclaimer :-

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NIFTY SPOT: 7934.90 EQUITY RESEARCH LAB

Nifty tips :-

Nifty Future R1: 7994 R2:8045 R3: 8141

Pivot: 7898 S1: 7847 S2:7751 S3:7699

CHART INTERPRETATION :-

Nifty spot close at 7934.90 on Wednesday . At higher side, important level 7980-8000. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7700. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7700-7670. At lower side nifty support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 7759.30 on Wednesday . The Indian indices shot up on Wednesday tracking a strong rally in equity markets across the globe. Sentiment got a boost after US home sales data supported the consensus view that the economy may be strong enough for the Federal Reserve to raise interest rates in the coming months. Besides, hopes of above normal rains in the upcoming monsoon season kept the sentiment high too. Market experts believe the 7980 hurdle for the Nifty could soon be broken and a rally leading all the way to around 8250-level cannot be ruled out.

INTRADAY STRATIGY :-

Buy Nifty future above 7950 for the tgt of 8000-7850 sl 7870.

CORPORATE NEWS  :-

Bajaj Auto’s profit jumped 29.2% to Rs. 803 cr due to better operational performance and good volume growth. Total income surged 14.2% at Rs. 5411 cr against Rs. 4739 cr in a year ago period.

Ashok Leyland reported 66.5% fall in Net profit at Rs. 77 cr due to an exceptional loss of Rs. 379 cr made on provisioning on investments in joint ventures and overseas subsidiaries. Revenue increased 32% to Rs. 5955 cr compared to Rs. 4505.7 cr in the same quarter last year.

After a gap of 4 years, the government has offered to auction 46 discovered oil and gas fields through internal bidding. The bidding for discovered small fields will open on July 15 and the last date would beOctober 31.

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NIFTY SPOT: 7748.85 Equity Research Lab

Nifty tips :- 

Nifty Future R1: 7778 R2:7797 R3: 7824

Pivot: 7750 S1: 7731 S2:7703 S3:7684

CHART INTERPRETATION :-

Nifty spot close at 7748.85 on Tuesday . At higher side, important level 7800-7850. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 7700.

Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7700-7670. At lower side nifty support level may be in the range of 7750-7650.  Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK :-  

NIFTY FUTURE :-

Nifty closed at 7759.30 on Tuesday . After a consolidation, equity benchmarks finally settled marginally higher by snapping three-day losing streak on Tuesday, driven by banking & financials and FMCG stocks. The market was also partly supported by positive European cues and better monsoon forecast.


INTRADAY STRATIGY: -

Buy Nifty future above 7760 for the tgt of 7800-7850 sl 7670.

CORPORATE NEWS :-

Britannia Industries, Jubilant Foodworks and Westlife development plunged 3-12% intraday on health concern issues as Centre for Science and Environment (CSE) claimed that bread contains cancer causing chemicals. All the companies said that they followed strict food safety standards in their operations.

Torrent Pharma posted consolidated Net profit at Rs. 357 cr compared to Rs. 130 cr in a year ago period. Total income stood at Rs. 1499 cr against Rs. 1154 cr on YoY basis.

VRL Logistics’ shares nosedived by almost 20% post quarterly results and announcement regarding promoter’s entry into the aviation sector.

The net profit for the quarter ending on March 31st 2016 stood at Rs 13.21 crores compared to Rs 19.36 crore in the corresponding quarter last year, indicationg a fall of 32.

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NIFTY SPOT: 7731.05 EQUITY RESEARCH LAB

Stock cash tips :- 

Nifty Future R1: 7795 R2:7845 R3: 7874

Pivot: 7765 S1: 7715 S2:7686 S3:7636

CHART INTERPRETATION :-

Nifty spot close at 7731.05 on Monday . At higher side, important level 7800-7850. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 7700. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7700-7670. At lower side nifty support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty closed at 7744.85 on Monday . Nifty ending below 7750 amid volatility, tracking weakness in global peers, due to selling in technology, oil, pharma and select banking & financial stocks. The market remained choppy after rising 180 points on the Sensex in early trade. The market is keenly waiting for monsoon and June Fed meet as these events may decide trend in short-to-medium term.

INTRADAY STRATIGY:-

 Buy Nifty future above 7750 for the tgt of 7800-7850 sl 7670.

CORPORATE NEWS :-

Britannia’s stock took a nosedive as the company announced its Quarterly results that turned out to be lower than the street estimates. The company reported Net profit growth of 13.7% at Rs. 190.2 cr while total revenue increased by 7.2% at Rs. 2211.4 cr on YoY basis.

Dish TV’s Net profit increased 14 fold at Rs. 482.8 cr due to a tax write back of Rs. 402.9 cr. Total income surged 9.5% to Rs. 799.3 cr. The company disappointed on operating margin growth and margin which were below estimates.

Shares of MCX (Multi Commodity Exchange of India) rallied by more than 6% as RBI allowed overseas investors to trade equity shares of MCX. Foreign shareholding in the bourse had fallen below the prescribed threshold limit, following which RBI took this step.

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NIFTY SPOT :- 7749.70 EQUITY RESEARCH LAB

stock cash tips :- 

Nifty Future R1: 7809 R2:7856 R3: 7884

Pivot: 7781 S1: 7735 S2:7706 S3:7660

CHART INTERPRETATION :-

Nifty spot close at 7749.70 on Friday . At higher side, important level 7850-7900. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800. At lower side nifty support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing positive trend.

NIFTY FUTURE :-

Nifty closed at 7763.35 on Friday . Indian Stock Market would open flat. Technically, Indian Stock Market has entered into negative zone.

Today, some short-covering rally may be seen after a sharp downfall but Traders should go short at every positive rally in the market.

Now next target for Nifty would be 7720-7685. Fears of FED Rate Hike would further pressurize the markets across the globe.

Overall, now market would be considered negative and the trade is to go short at every rally in the market for better profits.

Few Indian Corporate Giants would disclose their q4 results today that would further affect the market direction.

INTRADAY STRATIGY :-

Sell Nifty future below 7750 for the tgt of 7700-7650 sl 7830.

CORPORATE NEWS :-

ITC reported Net profit growth of 5.7% at Rs. 2495 cr compared to Rs. 2361 cr on YoY basis.

Total income surged by 9.4% to Rs. 10169 cr against Rs. 9293 cr in a year ago period.

The company also declared bonus in the ratio of 1:2.

Lupin plunged 9.1% on concerns on USFDA observations received in March 2016.

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The company said that it responded to the observations and is awaiting USFDA’s response.

Around 50,000 employees of the five associate banks of SBI went on strike to protest the proposed merger of all the five associates with SBI.

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EQUITY RESEARCH LAB NIFTY SPOT: 7783.40

Stock cash tips :- 

Nifty Future

R1: 7850.80       R2: 7918.20       R3: 7960
        
Pivot: 7809

S1: 7741.20       S2: 7699.40       S3:7632

CHART INTERPRETATION :-

Nifty spot close at 7783 on THURSDAY. At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7770-7760.  Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7770-7760Mechanical indicator stochastic RSI  also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-  

The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade the range of 7740-7830. The index witnessed selling throughout the day. Both private and public  sector banks witnessed selling on intermediate pullbacks. We feel a close below 16500 in bank would finally break the trading band on downside. The index may witness some more selling pressure.

INTRADAY STRATIGY:-

Buy Nifty future below  7850 for the tgt of 7825-7800 sl 7880.

CORPORATE NEWS :-

•    Glenmark Pharma got final USFDA approval for its Rufinamide Tablets. The company is now eligible for 180 days of shared generic drug exclusivity for Rufinamide tablets USP 200 mg and 400 mg.

•    Lupin beat street estimates with Net profit growth of 47.5% to Rs. 807 cr on YoY basis. Revenue surged by 35.9% to Rs. 4181 cr due to strong growth in international and Indian business.

•    SUN TV network fell by 13.2% after the Tamil Nadu assembly election results where AIADMK won the election.

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NIFTY SPOT :- 7870.15 EQUITY RESEARCH LAB

Stock cash tips :- 

Nifty Future R1: 7933 R2:7988 R3: 8049

Pivot: 7872 S1: 7818 S2:7756 S3:7702

CHART INTERPRETATION :-

Nifty spot close at 7870.15 on Wednesday . At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 7879.30 on Wednesday . After two consecutive weeks of gains, the Indian equity market shut with modest losses on Wednesday amid a sharp late recovery. Weak global cues dragged the Indian indices to open with a negative gap down. However, the day progressed; benchmarks staged a smart recovery led by gains in the realty, metals and capital goods stocks. The auto, power, utilities and consumer durables stocks ended with losses.

INTRADAY STRATIGY:-

Buy Nifty future above 7900 for the tgt of 7950-8000 sl 7830.

CORPORATE NEWS :-

PNB posted Net loss at Rs. 5367.14 cr against profit of Rs. 306.56 cr in a year ago period. Net interest income plunged 27% to Rs. 2767.7 cr while other income increased sharply by 35.8% to Rs. 2452.1 cr. Provisions almost tripled to Rs. 10485.23 cr compared to Rs. 3775.53 cr in the previous quarter

JSW Steel reported consolidated Net profit at Rs. 171.25 cr against Rs. 62.38 cr on YoY basis. Revenue declined 15% to Rs. 10697.52 cr against Rs. 12599.7 cr in previous year’s same quarter.

Maruti Suzuki share price recovered from day’s low when the management said that the company has complied with Indian law for car tests.

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NIFTY SPOT: 7890.75 EQUITY RESEARCH LAB

Stock cash tips :- 

Nifty Future R1: 7944 R2:7982 R3: 8006

Pivot: 7920 S1: 7883 S2:7858 S3:7821

CHART INTERPRETATION :-

Nifty spot close at 7890.75 on Tuesday . At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-

Nifty closed at 7907.60 on Tuesday . The markets will consolidate in the near-term till the British referendum decision which is slated for June 23. After that, the markets would show a path forward . If the monsoons are as good as promised then reaching Nifty levels of 8700-9000 by March, 2017 is possible. On the global front, European stocks traded higher pulled up by the miners amid a rally in oil prices and as sentiment was given a boost by Warren Buffett's investment in Apple. France's CAC, Germany's DAX and Britain's FTSE gained more than half a percent. Even most Asian markets were positive at close, with Hang Seng and Nikkei rising over a percent.

INTRADAY STRATIGY:- Buy Nifty future above 7910 for the tgt of 7950-8000 sl 7830.

CORPORATE NEWS :-

Motherson Sumi reported Revenue growth of 8% to Rs. 10068 cr on YoY basis. Net profit rose by 21.6% to Rs. 413.7 cr compared to Rs. 340 cr in a year ago period.

Symphony reported standalone Net sales growth of 10.3% to Rs. 137.15 cr compared to Rs. 124.37 cr in a year ago period. Net profit surged by 27.4% to Rs. 46.52 cr on YoY basis.

Education stocks rose on news that BJP government will bring new education policy by May 26. Educomp

Solution surged 19.14%, Everonn Education rose 19.56% and Career Point rose 3.67%.

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NIFTY SPOT: 7860.75 EQUITY RESEARCH LAB

Stock cash tips :- 

Nifty Future R1: 7899 R2:7937 R3: 7967

Pivot: 7835.60 S1: 7797 S2:7733 S3:7695

CHART INTERPRETATION :-

Nifty spot close at 7860.75 on Monday . At higher side, important level 7920 is the level to watch out for. As long as Nifty future manages to sustain above 7850, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7770. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7770.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY/BANKNIFTY FUTURE:-

The Nifty is likely to open flat to positive on the back of strong global cues. It is likely to trade in the range of 7830-7940. Looking at the option data, we feel the index is well placed to move towards levels of 7950 with support seen at 7850

INTRADAY STRATIGY :-

Buy Nifty future above 7860 For the tgt of 7950-8000 sl 7830.

CORPORATE NEWS :-

Pirama Enterprises’s consumer products division has entered into an agreement to acquire four brands from Pfizer for a consideration of Rs 110 crore.

After contracting for 17 months, WPI stood at 0.34% for April, 2016 against -0.85% in the previous month and -2.43% in a year ago period.

BHEL got order worth Rs. 1600 cr from a joint venture company of NTPC and SAIL to set up a coal based thermal power project in Odisha.

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Today's market Update EQUITY RESEARCH LAB

Stock cash tips :- 

Today’s Stock Market Action

BSE( TOP Gainers)

Company                   Current         % gain

Dr Reddys Labs        3,015.80         3.56

Asian Paints               954.90           1.32

Tata Motors              395.10            1.31

BSE (TOP LOSERS) :-

Company              Current            % loss

Bharti Airtel          345.90            -2.55

SBI                      181.05             -2.14

HUL                     819.80            -1.36

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NIFTY SPOT: 7900.40 EQUITY RESEARCH LAB

Stock Cash tips :- 

 Nifty Future R1: 7958 R2:7988 R3: 8037

Pivot: 7909  S1: 7879 S2:7830 S3:7800

CHART INTERPRETATION :-

Nifty spot close at 7900.40 on Thursday . At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 7850.  Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800.

Mechanical indicator stochastic RSI  also showing positive trend.

NIFTY FUTURE :-   

Nifty closed at 7928.20 on Thursday . The optimism over better fourth quarter earnings coupled with the passage of the Bankruptcy bill helped the market to hold traction. Global cues remained mixed with European counters making mostly a positive start, while Asian markets ended mixed following a dismal  day on Wall Street, while the dollar took a breather from this week’s rebound and crude oil gave back some of  its recent gains.

INTRADAY STRATIGY: -

Buy Nifty future above 7900 for the tgt of 7950-8000 sl 7830.

CORPORATE NEWS :-

Dr Reddy's Laboratories' net profit fell 85.62% to Rs 74.60 crore on 2.47% decline in total income to Rs 3786.90 crore in Q4 March 2016 over Q4 March 2015.

Arvind Ltd, has reported a consolidated net profit of Rs. 110 crore compared with Rs. 97 crore in the corresponding quarter last year, showing 14% growth on year-on-year basis.

TVS Motor Company has introduced a special “Himalayan Highs'' edition of TVS Scooty Zest 110.

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NIFTY SPOT: 7848.85 EQUITY RESEARCH LAB

Stock cash tips :- 

Nifty Future R1: 7917 R2:7969 R3: 8029

Pivot: 7857 S1: 7806 S2:7746 S3:7694

CHART INTERPRETATION :-

Nifty spot close at 7848.85 on Wednesday . At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level.

At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 7865.85 on Wednesday . The new tax pact with Mauritius spooked markets. However, the deep cuts in prices encouraged value buying later on, especially as it dawned on the investors that better clarity on the tax pact augurs well from a long term perspective. But, falling European stocks as well as CPI-IIP figures scheduled for tomorrow, ensured that the day’s gains were capped.

INTRADAY STRATIGY :-

Buy Nifty future above 7900 for the tgt of 7950-8000 sl 7830.

CORPORATE NEWS :-

Kotak Mahindra Bank's net profit rose 31.99% to Rs 695.78 crore on 52.27% increase in total income to Rs 4947.32 crore in Q4 March 2016 over Q4 March 2015.

Indian Bank net profit fell 59.02% to Rs 84.49 crore on 2.34% increase in total income to Rs 4513.60 crore in Q4 March 2016 over Q4 March 2015.

Oriental Bank of Commerce reported a net profit of Rs 21.62 crore in Q4 March 2016 compared with the net loss of Rs 178.44 crore in Q4 March 2015.

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NIFTY SPOT: 7887.80 EQUITY RESEARCH LAB

Stock Cash Tips :- 

 Nifty Future R1: 7946 R2:7973 R3: 8012

Pivot: 7906 S1: 7880 S2:7840 S3:7813

CHART INTERPRETATION :-

Nifty spot close at 7887.80 on Tuesday . At higher side, important level 7920-8050. As long as Nifty future manages to sustain above this level on intraday declines, the trend will be strong and nifty future will try touch further higher levels from this level. At lower side, support near 7850. Further weakness is nifty future is possible only if Nifty future falls and stays below the important support of 7850-7800.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-

Nifty closed at 7919.75 on Tuesday . Earlier, markets traded choppy for most part of the day’s trade as traders opted to book profit at attractive levels after posting a huge rally in previous session. Traders also remained on sidelines ahead of important macro data slated to be announced later in the week.

INTRADAY STRATIGY:-

Buy Nifty future above 7950 for the tgt of 8000- 8050 sl 7870.

CORPORATE NEWS :-

Kansai Nerolac Paints' promoter, Kansai Paint Company, acquired 1.37 crore shares, or 2.54% equity, in the paint maker through open market purchase on 6 May 2016. Post-acquisition, Kansai Paint Company holds 39.79 crore stake, or 73.83% equity, in Kansai Nerolac Paints.

UFO Moviez India has settled dispute with Real Image Media Technologies.

JSW Steel seven bidders shortlisted for Tata Steel's UK assets.

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