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.
For more information direct go through http://equityresearchlab.com/Freetrial.php or contact no. 837009894.
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.
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.
For more information direct go through http://equityresearchlab.com/Freetrial.php or contact no. 837009894.
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