NIFTY SPOT: 8467.90
Nifty Future R1: 8516 R2:8542 R3: 8589
Pivot: 8469 S1: 8442 S2:8395 S3:8368
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| Stock cash tips |
- Nifty future closed above to psychological support at 8450on Monday. Next logical targets for nifty would be 8500-8650 and breaching of 8320 would force nifty to see levels of 8105-8200. whereas the 8350-8310 will act as very strong Support levels, if once it go to 8480 then there will higher probability for nifty to touch 8500-8650 levels.
- Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
- NIFTY FUTURE: The Indian stock market rallied sharply on Monday with the NSE Nifty re-conquering the 8450 mark. The momentum was so strong that not a single sectoral index on the BSE ended in the red. The metal, auto,banking, finance, industrial, power, oil & gas, pharma and energy stocks were the top gainers. IndusInd Bank closed marginally lower to Rs.1,123. The bank posted a net profit of Rs.6613.80 million for the quarter ended June 30, 2016as compared to Rs.5250.40 million for the quarter ended June 30, 2015.
- INTRADAY STRATIGY: Buy Nifty future above 8500 for the tgt of 8550-8650 sl 8430.
SECTORIAL INDICES
CORPORATE NEWS
- Indusind Bank’s net profit for Q1FY17 rose by 26% to 661.4 Cr from 525 Cr in the corresponding quarter last fiscal. Net interest Income grew by 38% to 1356.4 Cr for Q1FY17 from 981 Cr in the previous year.
- Shares of Dishman Pharmaceuticals and Chemicals went up by 4.50% after the company announced that inspection at its Bavla Plant in Gujarat had been successfully completed by the US Food & Drug Administration (USFDA).
- Shares of Punjab National Bank went up by 9.23% after the RBI lifted a ban on fresh purchase of shares by Foreign Investors.
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