|stock futures tips|Equity Research Lab :- Nifty Report 22 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :         R1:8703           R2:8729               R3:8756
PIVOT :8676               S1:8650           S2:8623               S3:8597 

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 8900 there after.

• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The Indian equity market ended with negative zone amid another lackluster day of trades. Weak global cues, profit booking and a weak rupee subdued the Indian equity markets on Friday. The domestic stock markets started last trading session of the week on a flat note. Nifty closed with a loss of mere six points at 8,667. The NSE Nifty opened at 8,694 hitting a high of 8,697 and low of 8,647. The BSE Mid-cap Index is trading up 0.39% at 13,019 whereas BSE Small-cap Index is trading up 0.36% at 12,478. Some buying activity is seen in consumer durables, metal, utilities, industrial, capital goods and banking sectors, while telecom, IT and teck showing weakness on BSE. The INDIA VIX is up 0.36% at 14.6025.

STRATEGY: Buy Nifty Future above 8680 for the target of 8730 -8780 with the stop loss of 8610.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Sun TV Network Limited reported a 19% increase in Net profit to Rs. 233 Cr for Q1 as against Rs. 195.8 Cr for the same period last quarter. The Total Income from Operations increased by 10.3% to Rs. 760.8 Cr as compared to Rs. 689.4 Cr previously.
• NHPC successfully commissioned the 4th unit of the Teesta Low Dam Hydro-Electricity Project. The electricity generated will be allocated fully to the state of West Bengal and shall be supplied through West Bengal State Electricity Distribution Company (WBSEDCL).
• Dilip Buildcon bagged a Rs. 2,016 Cr project from the National Highway Authority of India (NHAI) for a fourlane highway between Lucknow and Sultanpur under the National Highways Development Project (NHDP).

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