|stock futures tips|Equity Research Lab :- Nifty Report 18 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :  R1:8677         R2:8722              R3:8756
PIVOT :8643         S1:8598         S2:8564              S3:8519

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 and8900thereafter.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The Indian equity market ended in the red as indices extended losing streak to second consecutive trading session on Wednesday. Today’s major decline was led by the IT, teck, FMCG and power, stocks, while metal, basic materials, auto, pharma and banking were among the gainer. Market sentiment remained down beat after wholesale inflation soared to a 23-month high of 3.55% in July. Traders turned cautious after US Federal Reserve official said interest rates could rise as soon as September. Nifty closed with a loss of 19 points at 8,624. The NSE Nifty opened at 8,640 hitting a high of 8,667 and low of 8,604. The BSE Midcap and Smallcap indices were closed above 0.55% each. 

STRATEGY: Buy Nifty Future above 8640 for the target of 8690 -8740 with the stop loss of 8570.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Just Dial reported an 8% rise in net profits to Rs. 38.9 Cr in Q1 as compared to Rs. 36 Cr in the same period last fiscal. The Total Income from operations increased by 6% to Rs. 166 Cr, as against Rs. 176.3 Cr previously.

• Strides Shasun reported a net profit of Rs. 26 Cr for Q1FY17 and total income of Rs. 875.5 Cr versus Rs. 955 Cr on a qoq basis. EBITDA stood at Rs. 133 Cr versus Rs. 179.5 Cr (qoq) and EBITDA margins came in at 15.2 percent versus 18.7 percent (qoq).

• Zee Learn and Tree House Education finalized their merger deal and revised their swap ratio. Under the new scheme of things, 10 shares (FV 1) of Zee Learn will be swapped with 10 shares of Tree House Education & Accessories. Shares of the companies rose by 11-16%.

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