Equity Research Lab :- Nifty Report 22 july

STOCK FUTURES TIPS:-

NIFTY SPOT: 8510.10

Nifty Future    R1: 8323      R2:8486     R3: 8392
Pivot: 8417      S1: 8253      S2:8348      S3:8184

stock futures tips

  CHART INTERPRETATION 

• If upcoming results support then this positive movement would continue till 8700 levels for Nifty .The only strate for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. and Expectations of a good monsoon have once again reinforced the confidence among market participants that the growth may come back on a good note, timely onset of the monsoons will be a positive for the markets. A strong break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index futures higher to 8650 and 8700 thereafter.
• Mechanical indicator stochastic RSI also showing consolidated trend.

  INDEX OUTLOOK    

NIFTY FUTURE: The Indian stock market snapped two day winning streak on Thursday as momentum failed to sustain at higher levels. Index heavyweights like HDFC Bank, Kotak Bank announced their results which failed to lift the sentiment. Market participants are keeping a close eye on actions taken by the government on the GST front hoping that it will be passed in the ongoing monsoon session. Today’s decline was led by the power, banking, utilities, capital goods, finance, pharma, metal and auto stocks. On the other hand, telecom, FMCG, basic materials and oil & gas stocks were among the major gainers.
STRATIGY: Buy Nifty Future above 8550 for the tgt of 8600 -8650 with the sl of 8470.

   SECTORIAL INDICES   

    CORPORATE NEWS      

•  HDFC Bank reported a 20.1% rise (YoY) in PAT for Q1 at Rs 3,239Cr as compared to Rs 2,696Cr in the corresponding quarter last year. The Net Interest Income (NII) rose by 21.8% to Rs 7,781 Cr whereas Net interest margin improved sequentially from 4.3% to 4.4%.
•  Kotak Mahindra Bank reported a nearly 300% increase in standalone PAT to Rs 742Cr from Rs 190Cr on a YoY basis. Net interest Margin (NIM) stood at 4.37%, marginally above the 4.35% mark in the previous quarter. Gross NPA rose to 2.5% and Net NPAs rose to 1.21% in the latest quarter. 
•  Ashok Leyland’s net profits doubled to Rs 290.8 Cr for Q1FY17 on a YoY basis due to surge in other income and forex gain. Revenue increased by 9.7% from Rs 3842Cr to Rs 4259Cr on YoY basis.

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