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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