EQUITY RESEARCH LAB :- NIFTY SPOT: 7424.65

NIFTY TIPS :-

Nifty Future R1: 7458 R2: 7488 R3: 7512

Pivot: 7434 S1: 7404 S2: 7380 S3: 7350

CHART INTERPRETATION ;-

Nifty spot close at 7424.65 on Thursday . nifty spot trade above 7400 and also maintain the level of 7400. Nifty may be take the support at this level and reach the new level of 7700-7900 otherwise nifty spot may be break the level of 7000 and trade below 6900-6750.

Mechanical indicator stochastic RSI move above 30 range , market need to sustain above 7500 to move upward up to 7580-7700.

INDEX OUTLOOK :-

NIFTY FUTURE:-


Nifty future closed at 7428.30 on Thursday. Nifty closed on a flat note with marginal losses on the last day of derivatives expiry for January series.

INTRADAY STRATIGY:-

Buy Nifty above the 7450 for the tgt of 7500-7550 with the sl of 7360.

CORPORATE NEWS :-

Sun Pharma

-Looking to sell some low priority Ranbaxy brands like Fortwin, Romilast etc. -Company expects valuation around Rs 270 crore for these products

Financial Technologies -

Enters into share purchase agreement with Dubai Multi Commodities Centre -To sell its 13 percent stake in DGCX to DMCC for USD 5.225 million

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