|stock futures tips|Equity Research Lab :- Nifty Report 02 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :        R1:8744          R2:8807       R3:8867
PIVOT :8684              S1:8621           S2:8561       S3:8499

stock future tips

  CHART INTERPRETATION   

• Nifty positive movement would continue till 8750-8900 levels .The only strategy 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 8750 and 8900 thereafter.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Nifty closed with a loss of mere two points at 8,636. The NSE Nifty opened at 8,654 hitting a high of 8,711 and low of 8,591. INDIA VIX is up 2.27% at 15.2575. On the economy front, India's Manufacturing PMI inched up to 51.8 points in July against 51.7 in the previous month, indicating a further improvement in overall business conditions across the sector. The Indian rupee opened higher by 22 paise at 66.80/$ against US Dollar Monday as against the previous close of 67.02/$. Some buying activity is seen in metal, IT, teck and telecom sectors.
STRATEGY: Buy Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Tata Motors passenger and commercial vehicle sales (including exports) in July 2016 were at 43,160 vehicles, a growth of 7%, over 40,154 vehicles sold in July 2015. The company’s domestic sales of Tata commercial and passenger vehicles for July 2016 was at 37,789 nos., a growth of 8%, over July 2015. The Company continued to witness year-on-year growth in certain key segments in July 2016, with the company’s LCV sales growing by 5% and its passenger cars growing by 43%. Cumulative sales (including exports) of the company for the fiscal was at 166,889 nos., higher by 7% over 156,658 vehicles, sold last year.
• The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs) / Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24 per cent up to 40 per cent of the paid up capital of J. Kumar Infraprojects Ltd. under the Portfolio Investment Scheme (PIS).
• The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

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