Equity Research Lab :- NIFTY SPOT: 7765.40

Nifty Future R1: 7849 R2: 7890 R3: 7919

Pivot: 7829 S1: 7779 S2: 7750 S3: 7709

Chart Interpretation :-

Nifty spot break its first support of 7770 on Monday and made the low of 7742,below this level nifty will reach the second support of 7710.nifty also given the breakout below 61.80% according to Fibonacci.

Mechanical indicator stochastic also showing selling indication in nifty future.

Index Out look :-

NIFTY FUTURE: NSE Nifty fell for the fourth straight session on Monday as cigarette maker ITC declined over 6 % in its biggest fall in nine months due to worries about a “sin” tax, while oil producers fell after OPEC left output targets unchanged. Sensex closed 108 points down at 25,530.11, while Nifty closed 16.50 points down at 7765.40.

INTRADAY STRATIGY :- 

 Sell Nifty in the range of 7790-7770 for target of 7730-7690 stop loss: 7870.

Siemens has won a crucial order approximately worth Rs 377 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi.

NIIT announced entering into a strategic partnership with HP for offering Post Graduate Certificate Program in software testing.

Godrej Properties announced that it has sold 300 apartments within one week at The Trees, its flagship project in Vikhroli, Mumbai.

ITC lost 7% on NSE, with the stock extending its intraday slide after a committee recommended sin/demerit rate at about 40% for tobacco and tobacco products.

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What should a normal investor do? Stock Future Tips by Equity Research Lab

The reality of share market is different. Trading is not a get rich quick idea. Instead, it takes hard work and years of practice to generate a steady income. And in the process, there are drawdowns, crashes, and periods of difficulty. Even the traders who have done very well take time to get there. They have had to struggle and learn the hard way just like everyone else. 

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We like to think of trading as a business. A business has revenues and costs, just like trading has profits and losses. Businesses start small and grow over time, just like trading capital. Businesses face recessions; traders face drawdown’s. Sometimes businesses fail, and sometimes markets can wipe traders out.  

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Nifty hovers around 7800, Sensex flat; ITC down 3%, HUL

The market is completly flat after a high opening. The Sensex is up 2.19 points at 25640.30 and the Nifty is up 10.25 points at 7792.15. About 1380 shares have advanced, 581 shares declined, and 91 shares are unchanged.

Sun Pharma, Hero MotoCorp, Tata Steel, HUL and Cipla are top gainers while ITC, NTPC, ONGC, Dr Reddy's Labs and Bharti Airtel are among losers in the Sensex. Essar Oil Ltd , India's second biggest private refiner, has set a floor price of Rs 146.05 a share to buy out minority shareholders, the company said in a public notice.

Essar Oil has decided to delist from local stock exchanges by buying out the non-promoter shareholding of 28.54 percent to give its promoters greater flexibility, the company said. The Bombay Stock Exchange and the National Stock Exchange had earlier approved the planned delisting of shares in Essar Oil. The share buyback would begin on December 15, the notice said.

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Equity Research Lab :- NIFTY SPOT: 7881.90

Nifty has again reached near to its crucial support of 7760 and breakdown from the same will trigger fresh selling. But, considering lined up events both on domestic and global front, we suggest trading index with option spreads rather going for a naked trade.

Nifty Future R1: 7848 R2: 7876 R3: 7895

Pivot: 7829 S1: 7801 S2: 7782 S3: 7754

CHART INTERPRETATION

Nifty is an near to first support 7770 below this level nifty will reach the second support of 7710.nifty also given the breakout below 61.80% according to Fibonacci.

Mechanical indicator stochastic also showing selling indication in nifty future.

  INDEX OUTLOOK

NIFTY FUTURE:- Nifty slid almost 160 point over the last week due to , weak rupee, some selling pressure by foreign institutional investors and concerns over US interest rate hike, due later this month.

INTRADAY STRATIGY:- Sell Nifty in the range of 7790-7770 for target of 7730-7690 stop loss: 7870.

CORPORATE NEWS

Reliance Communication has signed a pact to sell its tower and optic fibre assets in India to private equity firms TPG and Tillman Global in a deal estimated at about Rs 30,000 crore.

Sun Pharmaceutical Industries surged almost 4% after one of its subsidiaries received USFDA approval to manufacture and market generic version of Novartis’ Gleevec, used in the treatment of cancer, in America.

SJVN said it signed a memorandum of understanding (MoU) with the Saurya Urja Company of Rajasthan for allocation of land in the solar parks being developed by them in Jodhpur and Jaisalmer.

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Equity Research Lab :- NIFTY SPOT: 7864.15

Decline witnessed yesterday in Nifty index has further strengthened our conviction that negative to sideways bias is here to stay. PSU banks and cement stocks can be considered for creating fresh short positions.

Nifty Future R1: 7934 R2: 7976 R3: 8004

Pivot: 7940 S1: 7863 S2: 7835 S3: 7792

Chart interpretation :-

Nifty has an near term support placed at 7845, below this level it may touch the level of 7770 .

Mechanical indicator stochastic also showing selling indication in nifty future.

 INDEX OUTLOOK :-

NIFTY FUTURE: The Nifty is likely to open in the red, with indicator SGX Nifty trading at 7823, down 62.50 points at 7.52 am. Asian markets too have opened in the red this morning in line with the global handover. Nikkei hit a three-week low.

INTRADAY STRATIGY: Sell Nifty in the range of 7840-7830 for target of 7800-7760, stop loss: 7900

Corporate news :-

Chennai Petroleum Corporation fell 5.52% to Rs 191 on NSE on reports the company shut its refinery in Chennai yesterday, 2 December 2015, due to heavy flooding in Tamil Nadu.

Reliance Communications surged 6.56% to Rs 83.60 on NSE after the company said that 6 crore shares pledged by one of its promoter group entities have been releasesd.

Bank of Baroda fell 1.73% to Rs 170.80 on NSE, with the stock extending Wednesday's slide triggered by government ordering a forensic probe into the alleged irregularities from the bank's Ashok Vihar branch.

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Equity Research Lab :- NIFTY SPOT: 7931.35

Nifty Future R1: 7970 R2: 8009 R3: 8038

Pivot: 7940 S1: 7901 S2: 7871 S3: 7833

Chart Interpretation :-

Nifty has an near term resistence placed at 7940, above which it may touch 8050level.

Nifty is sustaining above 23% retracement where near support is placed at 7910.

Mechanical indicator RSI trading near 50 mark sign while MACD is also positive poised.

Index Outlook :-

NIFTY FUTURE: Traders should uphold cautious approach and prefer defensive for fresh long positions. On short side, stocks from PSU banks and capital goods space can be considered.

INTRADAY STRATIGY: - Sell Nifty in the range of 7955-7965 for target of 7925-7900, stop loss: 7980

Corporate news :-

Bajaj Auto rose 3% year-on-year during November, with 2.7 lakh units sold in comparison to 2.62 lakh units in the same month last year. Company’s exports, however, were down by 17% to 1.37 lakh units versus 1.67 lakh units in November 2014.

BSE will classify warrants issued by companies into a separate group, called 'W', with effect fromFriday. Currently, all types of warrants are traded under 'F' Group.

Shares of Chennai-based companies and firms with significant presence in Tamil Nadu fell on bourses as large scale floods paralysed operations across many companies.

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Equity Research Lab :- NIFTY SPOT: 7954.90

!!!! Nifty is inching higher and possibility of profit taking is quite high in near future. Traders should uphold positive yet cautious approach and keep the trading portfolio balanced or add defensives like FMCG and Pharma.  !!!

Nifty Future R1: 7973 R2: 7991 R3: 8011

Pivot: 7953 S1: 7935 S2: 7915 S3: 7897

Chart Interpretation :-

Nifty has an near term resistence placed at 7940, above which it may touch 8050level.
Nifty is sustaining above 23% retracement where near support is placed at 7912.
Mechanical indicator RSI trading near 50 mark sign while MACD is also positive poised.

Corporate news :-

The Reserve Bank of India (RBI) kept its benchmark interest rate viz. the repo rate unchanged at 6.75% after a monetary policy review. The central bank also kept the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).

 According to the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) manufacturing activity in the country fell to a 25-month low of 50.3 in November against 50.7 in October.

 Mahindra & Mahindra's (M&M) total auto sales rose 21% to 41,590 units in November 2015 over November 2014. Domestic auto sales rose 23% to 39,383 units in November 2015 over November 2014.

Index Outlook :-

NIFTY FUTURE:-  The Nifty is likely to open in the green around 8000 level with indicator SGX Nifty trading at 8000, up 15 points.

INTRADAY STRATIGY:-  Buy Nifty in the range of 7965-7975 for target of 8000-8025, stop loss: 7930

If you want to more information regarding the nifty spot, and many other share market calls & tips like Stock future tips, Stock tips, Commodity tips, MCX trading tips call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php

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