NIFTY SPOT: 7368.85 :- EQUITY RESEARCH LAB

EQUITY TIPS :- 

Nifty Future R1: 7386 R2: 7412 R3: 7454

Pivot: 7344 S1: 7319 S2:7277 S3:7252

CHART INTERPRETATION :-

Nifty spot close at 7368.85 on Wednesday . Nifty made a bottom and showing reversal trend after declaration of 2016 budget which market took positive. Nifty spot may show the level of 7500 Soon.

Mechanical indicator stochastic RSI also showing positive trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 7361.55 on Wednesday. The Indian equity market witnessed a fantastic follow up rally on Wednesday as Sensex and Nifty registered its biggest two day gain. The Nifty re-conquered the 7350 for the first time since February 8, 2016 while, Sensex continued its post-Budget rally for the second straight day and surged over 2% .Once again the interest rate sensitives like the banking and the auto stocks led the rally on hopes that the Reserve Bank of India is likely to announce reduction of interest rate.

INTRADAY STRATIGY: Buy Nifty above 7400 for the tgt of 7450-7500 with the sl of 7330 .

CORPORATE NEWS :-

SML Isuzu sales rose 2.95% to 1,010 vehicles in February 2016 over February 2015.

HCL Technologies won a 5-year next–generation IT outsourcing services contract from Husqvarna AB.

Mahindra & Mahindra dropped after company's management in a post-budget conference call said that the expiry of excise duty exemption on products manufactured from its Haridwar plant will affect Q4 margins.

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INDIAN RUPEE :- EQUITY RESEARCH LAB

EQUITY TIPS :-

The Indian rupee will likely open higher against the dollar on expectations of stronger shares as an uptick in U.S. manufacturing data signaled a recovery in the world’s largest economy, lifting risk appetite - NewsRise

Indian sovereign bonds will likely edge higher, tracking an expected rise in the rupee after the government kept its fiscal deficit target unchanged for the next fiscal year, fuelling hopes that the central bank would soon reduce interest rates. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.58 pct-7.64 pct range today - NewsRise

Wall Street enjoyed its strongest session in a month on Tuesday, led by financial and technology stocks after encouraging U.S. factory and construction data suggested the world's biggest economy was regaining momentum.

Asian shares look set to test February highs as signs of recovery in the U.S. manufacturing sector and gains in oil prices eased worries about a global slowdown and pushed U.S. stocks sharply higher.

The yen nursed broad losses early in Asia, having suffered a big reversal overnight as traders in London and New York took a brighter view on the global economy and dumped the safe-haven Japanese currency.

U.S. Treasury yields rose to near two-week highs on Tuesday after data showed U.S. manufacturing activity rebounded in February in a sign of economic resilience that weakened investor demand for safe-haven government debt.

Oil prices dropped in the wake of industry data that showed a huge build in U.S. crude stockpiles.

Gold dipped for a second session as global equities and the dollar rose after strong U.S. manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.

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EQUITY TIPS :-

Nifty Future R1: 7146 R2: 7284 R3: 7441

Pivot: 6990 S1: 6852 S2:6695 S3: 6558

CHART INTERPRETATION :-

Nifty spot close at 6987.05 on Monday . Technical and fundamental of the market is weaknifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-

Nifty future closed at 7008.95 on Monday. The stock market in India fell almost by half a percent on Monday amid a day of wild gyrations. Nifty and Nifty Bank index hit fresh 52- week low as the Budget was being announced. Market participants seemed disappointed
with the announcements which saw Nifty breached past its previous low of 6869.Banking stocks plunged after the finance minister proposed a lower-than-expected Rs 25,000 crore to be provided for recapitalisation of public sector banks.

INTRADAY STRATIGY:-

Sell Nifty Below the 6950 for the tgt of 6900-6850 with the sl of 7010 .

CORPORATE NEW :-

Finance Minister Arun Jaitley presented his third Budget, wherein; he stressed on Indian economy's resilience amidst the current global economic turmoil. Government has given 3.5% fiscal deficit target Inspite of global and domestic headwinds. This depicts the government is optimistic on the domestic economic condition. Another positive is that the Finance Minister has not hiked the service tax. But GST is being fully ignored here, which is not so impressive. STT on options is to be raised to 0.05% from 0.017%.

Relief to small tax payers: The government raises the ceiling of tax rebate under section 87A from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income up to Rs 5 lakhs. Increase the limit of deduction of rent paid under section 80GG from Rs 24000 per annum to Rs 60000, to provide relief to those who live in rented houses.

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NIFTY SPOT: 6987.05 :- EQUITY RESEARCH LAB

EQUITY TIPS :-

Nifty Future R1: 7146 R2: 7284 R3: 7441

Pivot: 6990 S1: 6852 S2:6695 S3: 6558

CHART INTERPRETATION :-

Nifty spot close at 6987.05 on Monday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal
and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 7008.95 on Monday. The stock market in India fell almost by half a percent on Monday amid a day of wild gyrations. Nifty and Nifty Bank index hit fresh 52- week low as the Budget was being announced. Market participants seemed disappointed with the announcements which saw Nifty breached past its previous low of 6869. Banking stocks plunged after the finance minister proposed a lower-than-expected Rs 25,000 crore to be provided for recapitalisation of public sector banks.

INTRADAY STRATIGY:-

 Sell Nifty Below the 6950 for the tgt of 6900-6850 with the sl of 7010 .

CORPORATE NEWS :-

Finance Minister Arun Jaitley presented his third Budget, wherein; he stressed on Indian economy's resilience amidst the current global economic turmoil. Government has given 3.5% fiscal deficit target Inspite of global and domestic headwinds. This depicts the government is optimistic on the domestic economic condition. Another positive is that the Finance Minister has not hiked the service tax. But GST is being fully ignored here, which is not so impressive. STT on options is to be raised to 0.05% from 0.017%.

Relief to small tax payers: The government raises the ceiling of tax rebate under section 87A from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income up to Rs 5 lakhs. Increase the limit of deduction of rent paid under section 80GG from Rs 24000 per annum to Rs 60000, to provide relief to those who live in rented houses.

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NIFTY SPOT:7029.75 EQUITY RESEARCH LAB

EQUITY TIPS :- 

Nifty Future R1: 7092 R2: 7130 R3: 7173
Pivot: 7049 S1: 7011 S2:6968 S3: 6930

CHART INTERPRETATION :-
Nifty spot close at 7029.55 on Friday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :_

NIFTY FUTURE:-

 Nifty future closed at 7055.15 on Friday. Nifty ended down 6% for February series basis, after the fall of 6.5% in January expiry. Market wide rolls were at its two year low largely because of low rollover in Private Banks, Cement and Real Estate sector.

INTRADAY STRATIGY:-

 Buy Nifty above the 7030 for the tgt of 7080-7130 with the sl of 6960 .

CORPORATE NEWS :-

The survey has expressed concern over approval of GST Bill being elusive so far and the disinvestment programme falling short of targets.

The survey points out that even as real growth has been accelerating, nominal growth has been falling. The survey cautions that if the world economy remains weak, India's growth will face considerable headwinds.

The survey states that the fiscal deficit target of 3.9% of GDP for the year 2015-16 seems achievable. CPI inflation seen around 4.5 to 5 per cent in 2016-17.

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GBPINR OUTLOOK :- EQUITY RESEARCH LAB

EQUITY RESEARCH LAB :-

GBP recovered despite top lawmakers continued to debate the merits of a historic referendum that could enable the UK to leave the European Union in June. Since UK Prime Minister David Cameron reached an agreement with European Commission leaders on Friday that granted Britain special status in the European bloc, the pound has plummeted more than 3% against the dollar. The pound encountered further downward pressure on Wednesday after a Bloomberg survey determined that sterling could drop as low as 1.35 versus the greenback within a week of Britain's departure, a level last seen in 1985. On Wednesday, International Monetary Fund head Christine Lagarde warned that the steady growth achieved by the nation could be threatened in the months leading up to the June 23 vote. It came as HSBC cautioned that a potential Brexit could cause the pound to drop another 20%, creating a sharp rise in imports and spiraling inflation, which could force the Bank of England to raise interest rates. A yes vote in the referendum cold also lead to heightened risks of contagion throughout the euro zone if other top nations decide to follow suit and demand special considerations from the EU. Sterling traders will focus on Thursday's UK GDP data. The second estimate of the fourth quarter GDP is supposed to stay at 0.5% quarter-on-quarter, with the yearly print expected to remain at 1.9%. Technically now GBPINR is getting support at 96.1425 and below same could see a test of 95.8025 level, And resistance is now likely to be seen at 96.64, a move above could see prices testing 96.7975.

GBPINR Daily Market Synopsis :

GBPINR trading range for the day is 95.74-96.74.

GBP recovered despite top lawmakers continued to debate the merits of a historic referendum that could enable the UK to leave the European Union in June.

Prime Minister David Cameron's announcement of a June 23 referendum on Britain's membership in the EU has sparked "Brexit" fears.

The charismatic mayor of London and Conservative Party MP has caused a serious blow to Prime Minister Cameron's effort to keep the UK inside EU.

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NIFTY SPOT: 6970.60 EQUITY RESEARCH LAB

EQUITY TIPS :-

Nifty Future R1: 7011 R2: 7055 R3: 7080

Pivot: 6986 S1: 6943 S2:6917 S3: 6874

CHART INTERPRETATION :-

Nifty spot close at 6970.60 on Thursday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 6968.50 on Thursday. The Indian stock market fell for the third straight day after the Rail Budget 2016 failed to boost market sentiments. Selling pressure during F&O expiry saw the Nifty close at fresh 52-week low. The decline was led by the power, realty, capital goods, banking and utilities stocks.

INTRADAY STRATIGY:-

Sell Nifty below the 6960 for the tgt of 6900-6850 with the sl of 7030 .

CORPORATE NEWS :-

Railway Budget: The Union Railway Budget 2016-17 focused on capacity creation in the rail sector, with an increased outlay of about Rs. 1.21 lakh crore, and on completion of the ongoing projects rather than announcing new ones. Extending 2015's measure, passenger fares remain the same. Mr. Suresh Prabhu's announcements included India's first rail auto hub, boost to e-catering, connectivity to North-East and Wi-Fi in railway stations.

Coal India rose 1.7% to Rs 300 after railway minister Suresh Prabhu in the Railway Budget 2016-17, kept freight rates unchanged and also announced review of tariff policy.

Reliance Capital said its board approved the transfer of its commercial finance division into a separate wholly-owned subsidiary.

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