After six days of fall, we are now closer to the bottom in Nifty but selling may continue in Midcap and Smallcap front. Traders should make required adjustment in their trading portfolios accordingly.
Nifty Future R1: 7706 R2: 7767 R3: 7806
Pivot: 7666 S1: 7605 S2: 7565 S3: 7504
Chart Interpretation :-
Nifty spot seen near to 3 month low ,7540 it’s a major support .nifty may be take the reverse trend near this level.
Mechanical indicator stochastic also showing selling indication in nifty future.
Index outlook :-
NIFTY FUTURE: Nifty fell for the sixth consecutive trading session on Wednesday on account of selling in front line blue chip counters. The sentiments were also under pressure following lingering concerns over GST. Sensex closed 274.28 points down at 25,036.05. Nifty settled 89.20 points down at 7,612.50.
INTRADAY STRATIGY: Sell Nifty in the range of 7590 for target of 7540-7500 stop loss: 7660.
Corporate news :-
Bharat Forge's said that the near-term outlook remains challenging and expects standalone revenue to remain flat in the financial year ending March 2016.
TCS said that the Oman Housing Bank has selected the TCS BaNCS Universal Banking to help deliver an enhanced end-customer experience in endeavor to become a leading housing finance bank in the region.
Shares of Dr Reddy's Laboratories and Glenmark Pharmaceuticals declined on reports the latest political develop- ments in Venezuela might impact business prospects of these two firms.
If you want to more information regarding the Nifty spot, nifty future, stock tips & many other call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php
Nifty Future R1: 7706 R2: 7767 R3: 7806
Pivot: 7666 S1: 7605 S2: 7565 S3: 7504
Chart Interpretation :-
Nifty spot seen near to 3 month low ,7540 it’s a major support .nifty may be take the reverse trend near this level.
Mechanical indicator stochastic also showing selling indication in nifty future.
NIFTY FUTURE: Nifty fell for the sixth consecutive trading session on Wednesday on account of selling in front line blue chip counters. The sentiments were also under pressure following lingering concerns over GST. Sensex closed 274.28 points down at 25,036.05. Nifty settled 89.20 points down at 7,612.50.
INTRADAY STRATIGY: Sell Nifty in the range of 7590 for target of 7540-7500 stop loss: 7660.
Corporate news :-
Bharat Forge's said that the near-term outlook remains challenging and expects standalone revenue to remain flat in the financial year ending March 2016.
TCS said that the Oman Housing Bank has selected the TCS BaNCS Universal Banking to help deliver an enhanced end-customer experience in endeavor to become a leading housing finance bank in the region.
Shares of Dr Reddy's Laboratories and Glenmark Pharmaceuticals declined on reports the latest political develop- ments in Venezuela might impact business prospects of these two firms.
If you want to more information regarding the Nifty spot, nifty future, stock tips & many other call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php
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