|stock futures tips|Equity Research Lab :- Nifty Report 04 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :              R1:8631             R2:8681           R3:8713
PIVOT :8599                       S1:8550              S2:8518           S3:8469

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,  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 stock market opened flat on Wednesday and slipped further amid weak global cues. FM Arun Jaitley has introduced the GST Constitutional Amendment Bill in the Rajya Sabha, saying GST was first mentioned in 2006 Budget. standard GST rate should be 18% for most goods and services tax, which will be the non inflationary, efficient way of tax rate and acceptable by public. If the government doesn't care about inflation, will of people, efficiency, go ahead & charge 24%. It defeats the purpose of GST. The Nikkei India Services PMI rose to 51.9 in July from 50.3 in June. The reading for July was the highest in three months.

STRATEGY: Sell Nifty Future below 8525 for the target of 8475 -8425 with the stop loss of 8600.

   SECTORIAL INDICES   

    CORPORATE NEWS      

HCL Technologies reported a 14.8% (YoY) jump in net profit to Rs. 2,051 Cr and a 15.9% (YoY) jump in revenues to Rs. 11,336 Cr. Sequentially, the profits and revenues grew by 6 and 6.3% respectively. The company announced a robust guidance where it expects to grow by 12-14% in the current fiscal.

Emami reported a 34.6% drop (YoY) in net profits to Rs 56.6 Cr due to higher finance, tax and amortization costs. Total Income grew by 20% to Rs. 644 Cr from Rs. 537.2 Cr in the corresponding quarter last fiscal. Operating Profit (EBITDA) increased by 49.1% to Rs. 147.2 Cr showing an expansion of 450 basis points in
the margin to 22.9%.

The service sector output in India has shown a significant uptrend according to Nikkei India Services Business Activity Index. The index figure stood at 51.9 for July 2016 as compared to 50.3 in June 2016.

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