|stock futures tips|Equity Research Lab :- Nifty Report 11 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :        R1:8684               R2:8771       R3:8818
PIVOT :8637                S1:8550                S2:8503        S3:8416

stock future tips

  CHART INTERPRETATION   

• 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 8900thereafter.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Sensex lost 310.28 points or 1.10% at 27774.88 and the Nifty plunged 102.95 points or 1.19% to 8575.30. Profit booking continued for the second consecutive session Wednesday as the equity benchmarks posted a biggest one-day loss in percentage terms since June 24. The broader markets also caught in bear grip. The BSE Midcap and Smallcap indices were down more than a percent. The profit booking is warranted as the market already priced in major events (like the passage of GST Bill, monsoon, RBI policy, delay in Fed rate hike etc) by rallying more than 22 %. The sell-off may continue for some more time but the market may continue to get support from the liquidity.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Motherson Sumi reported a 15.8% rise in net profits to Rs. 439 Cr for Q1 as compared to Rs. 379 Cr in the corresponding quarter previous fiscal. Total Income increased by 15.5% to Rs. 10,454 Cr as compared to Rs. 9,071 Cr previously. Operating Profit (EBITDA) jumped by 20.3% to Rs. 928 Cr for the quarter missing expectations. Net Debt increased by 7.7% QoQ and 29.4% YoY. 
• M&M reported a 12.3% rise in net profit to Rs. 955.2 Cr in Q1 from Rs. 850 Cr. Total Income increased by 14.3% to Rs. 12,159 Cr from Rs. 10,635 Cr previously. Total vehicle sales went up by 11% to 1,21,530 units.
• City Union Bank reported a 10.8% increase in Q1 to Rs. 123.5 Cr from Rs. 111.5 Cr in the same period last year. Net Income increased by almost 9% YoY to Rs. 883.3 Cr as against 810.9 Cr. Net Interest Income (NII) jumped 25.2% to Rs. 280 Cr. Gross NPA jumped by 21 basis points to 2.62% and Net NPA went up 6 basis points to 1.59% sequentially.

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