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.
If you want to more information regarding the nifty level,nifty report, stock tips and many other tips like Equity tips, commodity and many other combo pack call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.phps
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
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.
If you want to more information regarding the nifty level,nifty report, stock tips and many other tips like Equity tips, commodity and many other combo pack call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.phps
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