EQUITY RESEARCH LAB :- NIFTY SPOT: 7455.55

NIFTY TIPS :-

Nifty Future R1: 7563 R2: 7652 R3: 7710

Pivot: 7505 S1: 7417 S2: 7359 S3: 7270

CHART INTERPRETATION :-

Nifty spot close at 7455.55 on Tuesday . nifty spot trade below 7500 ,next support for nifty will be 7250 .If nifty not maintain the level of 7200-7250 so next level of nifty 6900-7100 may be seen. Bullish trend in nifty will be seen above 7500-7600.

Mechanical indicator stochastic RSI move above 70 range , market need to sustain above 7500 to move upward up to 7580-7700.

INDEX OUTLOOK :-

NIFTY FUTURE:

Nifty future closed at 7474.95 on Tuesday. Nifty tumbled over 1 per cent on Tuesday on account of selling in metal, oil and gas, healthcare and power stocks amid global Market sell-off.

INTRADAY STRATIGY:-


Buy Nifty above the 7500 for the tgt of 7550-7600 with the sl of 7440.

CORPORATE NEWS:-

The RBI kept its benchmark interest rate viz. the repo rate unchanged at 6.75% after a monetary policy review.

The central bank kept the cash reserve ratio (CRR) unchanged at 4% of net demand and time liability (NDTL).

Bajaj Auto's total sales during January 2016 have risen by 2% to stand at 2,93,939 units versus 2,88,746 in the same month of 2015. The company's motorcycles sales grew 2% year-on-year to 2,52,988 units (2,46,955 units), while commercial vehicle sales saw a drop of 2% to 40,951 versus 41,791 units.

Lupin announced that its US subsidiary has launched its Metformin HCI ER Tablets, 500 mg and 1000 mg in the US.

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