|stock futures tips|Equity Research Lab :- Nifty Report 25 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :        R1:8686               R2:8717              R3:8751
PIVOT :8651               S1:8620               S2:8585              S3:8554

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 the reafter.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The Indian stock market swung between gains and losses and closed higher for the second consecutive session. Volatility continued ahead of expiry of August futures & options contracts. Oil and Gas, pharma, energy, power, IT and realty stocks led from the front, while telecom, metal and capital goods index were among the major loser. Market participants were a bit jittery ahead of the Fed chair Janet Yellen speech at the Jackson Hole in US later this week. The India VIX (Volatility) index was down 2.95% at 13.4875. The rupee was trading down five paise at 67.10 per US dollar. Aurobindo Pharma jumped 7% to Rs.787 after the pharma company reported a 23.8% rise in consolidated net profit to Rs.584.96 crore for the first quarter ended June 30, 2016, mainly on account of robust sales.

STRATEGY: Buy Nifty Future above 8650 for the target of 8700 -8750 with the stop loss of 8580.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Nava Bharat Ventures reported a 32% drop in net profit to Rs. 29.2 Cr in Q1, as against Rs. 43 Cr in the same period last year. The Income from Operations went down by 9.3% to Rs. 313.7 Cr, from Rs. 346 Cr previously. Shares tanked by 6% during the day’s trade. 
• Strides Shasun received US Food and Drug Administration (FDA) approval for Ranitidine Tablets used for treating intestinal and stomach ulcers and gastroesophageal reflux disease. 
• NTPC plans to raise up to Rs. 15,000 Cr through issuance of bonds on a private placement basis. The objective of the issue is for capex, working capital and general corporate purpose. NTPC shares closed higher by 1.1%.

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