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|stock futures tips|Equity Research Lab :- Nifty Report 23 J

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    STOCK FUTURES TIPS:-

     

    NIFTY FUTURE :       R1:8432                   R2:8447                       R3:8461
    PIVOT :8409              S1:8394                    S2:8371                       S3:8356

     

    stock future tips

    nifty daily chart

      CHART INTERPRETATION   

    Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once market closes below these levels. Market has consolidated for long time and now there are strong possibility of a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8445-8465levels.

       INDEX OUTLOOK     

    NIFTY FUTURE: Equity benchmarks extended gains for 3rd consecutive session Thursday, with the Sensex closing at two-month high after stable earnings from banks (despite demonetisation) and China's decision to cut steel production. Globally investors will closely watch US President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies. Nifty moved closer to 8400 level, up 92.05 points or 1.11 %at 8380.65. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold 8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold 8275-8230 as the supports.

    STRATEGY: SELL Nifty Future above 8461 for the target of 8400 with the stop loss of 8481.

       SECTORIAL INDICES  

     

        CORPORATE NEWS     

    • TCS reported Total Revenue at Rs. 29,735 Cr, up by 8.7% on a YoY basis, against Rs. 27,364 Cr in the corresponding quarter last year. Net Profit increased by 10.9% to Rs. 6,778 Cr, against Rs. 6,110 Cr in the corresponding quarter last year. Operating Income stood at Rs. 7,733 Cr, and margins remained stable at 26%. Business from markets like Latin America and India clocked double digit growth of 12.5% and 10.3% sequentially, while North America grew 2.2 % and UK showed 1.7% growth.
    • Bajaj Corp reported a 17.2% rise in Net Profit in Q3FY17 to Rs. 57.8 Cr, as against Rs. 49.3 Cr in the corresponding quarter last year. On the contrary, Net Sales were down by 4.8% at Rs. 186.4 Cr against Rs. 195.7 Cr previously.
    • MMTC’s Joint Venture with Orissa Government - Neelachal Ispat Nigam signed a mining lease agreement for iron ore, which is its basic raw material for operations. Shares closed up 3.3%.

    If you want to more information regarding the Stock cash tips, Stock tips,Stock futures tips, Stock futures services, Equity tips  call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php


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