|stock futures tips|Equity Research Lab :- Nifty Report 08 august

STOCK FUTURES TIPS:-

NIFTY FUTURE :  R1:8739          R2:8771        R3:8825
PIVOT :8685        S1:8654         S2:8600        S3:8568 

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 closed with huge gains on Friday erasing the entire weeks losses. The rally was led by the interest rate sensitive stocks like banking, auto and realty. Metal, industrial, power, and FMCG stocks were among the other major gainers. On the other hand, IT and telecom stocks were among the major losers. Bharat Forge stock closed higher by 13% at Rs.814.The Company posted a net profit of Rs. 1220.60 million for the quarter ended June 30, 2016 as compared to Rs. 1959.70 million for the quarter ended June 30, 2015. PVR rallied by 10% at Rs.1225.
STRATEGY: Buy Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.

   SECTORIAL INDICES   

    CORPORATE NEWS      

Bharat Forge reported a 37.7% (YoY) drop in net profits to Rs. 122 Cr in Q1FY17 from Rs. 196 Cr. Total Income from operations fell by 19% (YoY) to Rs. 957 Cr in the current quarter from Rs. 1,186 Cr. The poor performance was on the account of a 40% drop in exports.

Siemens reported a 22.7% drop in net profit to Rs. 130 Cr for Q1FY17, as against Rs. 168.2 Cr in the corresponding quarter in the previous fiscal. Revenues went up by 10.4% to Rs. 2,563.1 Cr from Rs. 2,322 Cr. There was a jump of 44.3% in new orders to Rs. 3,224.2 Cr as compared Rs. 2,234 Cr.  

Jaguar Land Rover, reported a 34% (YoY) jump in July 2016 sales figures which stood at 44,486. JLR has sold 3,36,052 vehicles in the first seven months of the year, up by 23%. JLR has witnessed strong demand from China and North America where the sales figures increased by 64% and 51% respectively, on a year-on-year basis.

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