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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NIFTY SPOT: 7733.45 Equity Research Lab

Stock cash tips :-


Nifty Future R1: 7786 R2:7813 R3: 7856

Pivot: 7743 S1: 7717 S2:7674 S3:7647

CHART INTERPRETATION :-

Nifty spot close at 7733.45 on Friday . At higher side, immediate resistance near 7735-40. If Nifty future manages to move and stay above this resistance, nifty future will try to touch the next important resistance at 7780-7810.How ever, if Nifty future fails to move and stay above any of the given resistance levels, then again Nifty future will fall to lower levels.

At lower side, support near 7710, If Nifty future falls and stays below this important support, then the trend will become further weak and nifty future will fall to next lower supports at 7680-7660 levels.


Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE :-

Nifty closed at 7760.25 on Friday . After almost hitting the 8000 levels recently, the Nifty seems to be struggling to come anywhere near for now. The sell-off for some days has been mostly triggered by a slide in global markets. Disappointing quarterly earnings announced by banking heavyweight ICICI Bank hit sentiment on the street. The coming week will see the market reacting to plethora of macro-economic numbers which includes April Import & Export data, April CPI YoY and March IIP YoY. Corporate results on the other hand will continue to pour in with companies like HUL, Asian Paints, Havells and Cadila announcing their earnings next week.

INTRADAY STRATIGY :-

Buy Nifty future above 7800 for the tgt of 7850- 7900 sl 7730.

CORPORATE NEWS :-

NIIT Technologies reported a consolidated net profit of Rs. 79 crore for the fourth quarter ended March 31, as compared to the loss of Rs. 17.5 crore in the corresponding period last year.

BHEL announced the commissioning of a 500-MW thermal unit in Jharkhand.

Havells India Ltd has launched integrated automation and control solutions for domestic, commercial and public segments.

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Equity Research Lab NIFTY SPOT: 7805.90

Stock cash tips :- 

Nifty Future R1: 7874 R2:7909 R3: 7944

Pivot: 7839 S1: 7805 S2:7770 S3:7735

CHART INTERPRETATION :-

Nifty spot close at 7805.90 on Monday . At lower side, support near 7820-7800. If Nifty future takes support near this level on intraday declines, then nifty future will bounce back and move to higher levels. At higher levels, resistance near 7860-7890. Further up moves in nifty future is possible only if Nifty future manages to move and stay above this level. Otherwise, again Nifty future will fall to lower levels.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty closed at 7853.45 on Friday . Nifty moved in a 53-point range throughout the day and closed just above 7800. Nifty fell 43.90 points or 0.6 percent at 7805.90. Growth in India's manufacturing sector slowly sharply in April as demand weakened, reinforcing views that the central bank will have to cut interest rates again in coming months. The Nikkei/Market Manufacturing Purchasing Managers' Index fell to a fourmonth low of 50.5 in April from March's 52.4, nearing the 50 mark that separates growth from contraction and the lowest reading of the year. we are still bullish on India with better-than-expected Q4 earnings and hopes for a good monsoon.

INTRADAY STRATIGY:- Buy Nifty above 7800 for the tgt of 7850- 7900 with the sl of 7730 .

CORPORATE NEWS :-

Nikkei India Manufacturing Purchasing Managers’ Index (PMI) — a composite indicator of manufacturing performance — fell from 52.4 in March to 50.5 in April, 2016.

Maruti Suzuki India reported total sales growth of 16% in the domestic market by selling 1,17,045 vehicles in April.

Mahindra & Mahindra reported a 14% rise in total sales to 41,863 units in April. The company had sold 36,727 units in the same month last year.

Bajaj Auto’s sales saw a 2% decline during April to 3.30 lakh units versus 3.36 lakh units in the same month of last
year.

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