|stock futures tips|Equity Research Lab :- Nifty Report 30 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8739                       R2:8890                 R3:8979
PIVOT :8650            S1:8499                       S2:8410                  S3:8259

stock future tips

   CHART INTERPRETATION    

• Nifty open gap up on Thursday and shown Sharp downfall after the Indian Army confirmed that it undertook surgical strikes across the Line of Control in Jammu and Kashmir at terror launchpads sending across a very strong message to Pakistan on Wednesday night. Nifty next support would be 8500-8570.Traders can go short on a break below 8600. Range bound movement may be seen in Nifty, if its maintain the level of 8800 so, up sided movement would be up to 9050-9150.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: In a knee-jerk reaction to government claims that Indian Army conducted a surgical attack on Pakistan based terror camps on Wednesday night, domestic equity markets sharply plunged on Thursday in afternoon trade triggered by all round selling. Sensex tanked by 573 points following the announcement, while Nifty breached the 8,600 level by slipping 186.90 points, or 2.13 per cent, to 8,558.25. However, the markets have wiped off some losses, but were still down over a percentage point. The markets are expected to correct further if the tension between India-Pakistan escalates in the aftermath of Uri and surgical attacks. Market crashed on Thursday on account of rising tension between India and Pakistan. If the tension will escalate further we can see some correction going ahead.. If there will be no further strike market will find some solace from that. If Pakistan will not respond market will stablise. We can see some revision in Sensex and Nifty targets if Indo-Pak tension will escalates further.

STRATEGY: Sell Nifty Future below 8600 for the target of 8550 -8500 with the stop loss of 8680.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• The Organisation of Petroleum Exporting Countries (OPEC) agreed to cut its oil output for the first time since 2008. The group will cut production by 7,50,000 barrels per day to 32.5 million barrels per day.
• Larsen & Toubro’s (L&T) arm — L&T Constructions bagged orders worth Rs. 2,046 Cr across various business segments namely - Power Transmission & Distribution, Heavy Civil Infrastructure, Building and Factories, Residential and Transport Infrastructure.
• Dutch lender ING Group NV sold a part of its stake in private sector bank Kotak Mahindra to raise capital. About 4.7 Cr shares worth Rs. 3,718 Cr traded through multiple block deals at an average price of Rs. 784 apiece.

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|stock futures tips|Equity Research Lab :- Derivative Report 29 september

STOCK FUTURES TIPS:-
 
NIFTY FUTURE:-

NIFTY FUTURE :         R1:8792                  R2:8827                          R3:8870
PIVOT :8749                S1:8715                  S2:8671                           S3:8637

stock future tips

  NIFTY DAILY OUT LOOK   

• Sensex and Nifty snapped a three-day losing streak on Wednesday on account of buying in metal, banking and auto stocks amid firm European markets. The 50-share index settled 38.75 points up at 8745.15. Overall, domestic equity markets remained volatile throughout the day ahead of the derivative expiry on Thursday. Barring the BSE IT index (down 0.26 per cent), rest all other sectoral indices ended the day with gains. Nifty formed a perfect “Bullish Harami” candle on daily chart near to crucial support zones but now requires follow up and hold above 8,767- mark to witness the reversal in immediate declining trend. Now if it manages to hold above 8,767 then it may head towards 8,820 and 8,858 zones in next coming sessions while on the downside multiple support exists at 8,688 zones. Asian equity markets ended mostly in red on Wednesday as the Japanese yen fluctuated and oil prices turned flat after steep losses overnight on doubts over potential OPEC deal.
• Nifty open flat on Wednesday and shown range bound movement over the full market hour’s. Nifty next support would be 8700-8750.Traders can go short on a break below 8600. Range bound movement may be seen in Nifty ,if its maintain the level of 8800 so, up sided movement would be up to 9050-9150.

  NIFTY BANK FUTURE   
     NIFTY FUTURE :    R1:19776             R2:19861                    R3:19982
     PIVOT :19655          S1:19570              S2:19449                     S3:19364

stock cash tips

 NIFTY BANK OUTLOOK:-

• The bank nifty faces immediate resistance around the 19,750 level on the upside and will continue to face selling pressure at higher levels. Bank nifty open flat and shown range bound movement over the full trading session on Wednesday, Bank Nifty upward movement would be seen above 20000, below 19800 bank nifty downside level may be 19600-19400. BANK OF BARODA (+2.71%) and YES BANK (+1.95%) is the top gainers of the day.
• Bank nifty opened flat at 19557.45, to its previous closing 19558.90 on Wednesday and touched high of 19740.00. In Bank nifty bullish trend seen above the level of 20000-20500. if it’s maintain the level, then new level 20800-20900 will be expected. Below 19800 bank nifty downward movement seen in between the level of 19600-19400.

USD/INR

The Indian rupee opened higher by 4 paise at 66.44 per dollar on Wednesday versus previous close of 66.48. The rupee will continue to trade with a positive bias on the back of an overall weak outlook for dollar and in anticipation of rebound in the domestic equity market. The 10-year US Treasury note yield hovered near a three-week low of 1.546 percent touched overnight amid speculation that Europe's banking woes could delay the Fed's next interest rate hike. 
                USDINR :                  R1:66.80            R2:66.82               R3:66.86
                PIVOT : 66.76           S1:66.74             S2:66.70                S3:66.68

FII/DII ACTIVITY

TOP GAINERS:

 TOP LOSERS:-

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|stock futures tips|Equity Research Lab :- Nifty Report 28 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :             R1:8762                      R2:8808                      R3:8841
PIVOT :8730                     S1:8684                      S2:8651                      S3:8605

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The Indian stock market ended in the red as indices extended losing streak to third consecutive trading session on Tuesday. The Nifty fell below 8,700 for the first time in 9 sessions. After starting off on a positive note markets remained subdued in the first half, however as the day progressed selling pressure accentuated. Weak global cues and profit booking weighed on the domestic markets. Heavy selling was witnessed in capital goods, telecom, oil & gas, metal, banking, auto and energy stocks, while IT, pharma, realty and technology stocks were among the gainers. The India VIX (Volatility) index was down 2.16% at 14.2500. Out of 1,461 stocks traded on the NSE, 806 declined and 597 advanced today. The rupee was trading up 13 paise at 66.46 per US dollar.
STRATEGY: Sell Nifty Future below 8700 for the target of 8650 -8600 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• IRV Infrastructure Developers received a letter of award from the National Highways Authority of India (NHAI) for a highway project in Rajasthan and Gujarat. The contract worth is Rs. 2,100 Cr.
• Yes Bank will raise Rs. 330 Cr through issuance of 7-year old green infrastructure bond to FMO, Dutch Development Bank, on a private placement basis.
• The US Food & Drug Administration (FDA) raised concerns and issued form 483 whilst also stating 6 observations for Indoco Remedies’ Goa Plant 2 & 3. The observation covers production quality, facilities and equipment. Shares tanked as much as 9% during intraday trade.

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|stock futures tips|Equity Research Lab :- Nifty Report 27 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :         R1:8795                         R2:8856                     R3:8890
PIVOT :8761                S1:8700                         S2:8666                      S3:8605

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Finally, Nifty ended the day at 8723.05, down by 108.50 points against the Friday’s close. Ahead of US presidential debate following global market Nifty turned bearish and hovering around the key level of support at 8,700-8,710. Both the Asian market was mostly in red and without any strong support from European market too, domestic market extended its losses and failed to show any strength. Market breadth remained in negative territory throughout the trading session and there was not any attempt visible from the bulls to regain strength. However it is still trading above the key support of 8,700-8,710 and we expect once should wait for break below the support zone, before come into conclusion that a mid-term downtrend has already started. The chances of a bounce back can’t be ruled out as the overall market trend is sideways and it is trading at the lower end of the channel.

STRATEGY: Buy Nifty Future above 8750 for the target of 8800 -8850 with the stop loss of 8670.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Dilip Buildcon secured 2 orders of a total worth Rs. 963 Cr from the Ministry of Road Transport and Highway and National Highways Authority of India (NHAI). The projects involve rehabilitation and up gradation of Eeppurpalem – Ongole section of NH214A in Andhra Pradesh and four laning of NH-6 from Chichra to Kharagpur in West Bengal.
• Marksans Pharma announced that it got US Food & Drug Administration (FDA) nod for loratadine liquid filed capsules 10 mg. The drug is used to treat sneezing, runny nose, watery eyes, hives, skin rash, itching, and other cold or allergy symptoms. Shares of the Pharma Company closed up 10.6%.
• Suven Life Sciences was granted two product patents, one each in Japan and India, for molecules to be developed for treatment of neuro-degenerative diseases.

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|stock futures tips|Equity Research Lab :- Nifty Report 26 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8878                 R2:8913                R3:8937
PIVOT :8854            S1:8819                 S2:8795                 S3:8760

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Nifty declined on Friday on account of profit booking by investors, a day after they rallied following US Federal Reserve’s decision to keep the rates unchanged. Weak opening in European markets further dampened market sentiments in Friday’s trade. Sentiments are stood under pressure after rupee weakened against the dollar at the Interbank Foreign Exchange market on fresh demand for the American currency from importers. The BSE Midcap and Smallcap indices closed in green. The rupee was trading flat by one paise at 66.66 per US dollar.

STRATEGY: Sell Nifty Future below 8800 for the target of 8750 -8700 with the stop loss of 8870.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Den Networks’ board approved the allotment of 1.58 Cr shares on a preferential basis to two affiliates of Goldman Sachs at Rs. 90 apiece. Board Street Investments (Singapore) and MBD Bridge Street 2016 Investments (Singapore) will be offered the shares in a cash consideration. Shares of Den Network closed at 80.8, up by 3.3%.
• Brigade Group announced a Memorandum of Understanding (MoU) with an online, rental solution provider – Nestaway. Through the collaboration, the real estate group can offer comprehensive rental assistance to its existing customers and over 10,000 apartments that are in different stages of construction.
• Gayatri Projects bagged a project worth Rs. 1,255 Cr in a Joint Venture with Russian construction company PTPS. NHAI allotted the contract for rehabilitation and up gradation to 4-laning of Angul- Sambalpur section of the NH-42 in Odisha. Shares closed up 3.2%.

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|stock futures tips|Equity Research Lab :- Derivative Report 23 september

STOCK FUTURES TIPS:-
 
NIFTY FUTURE:-

NIFTY FUTURE :              R1:8914                 R2:8944                  R3:8971
PIVOT :8887                    S1:8857                  S2:8830                   S3:8800

stock future tips

  NIFTY DAILY OUT LOOK   

• The market ended with smart gains as the Sensex was up 265.71 points or 0.9 percent at 28773.13. The Nifty was up 90.30 points or 1 percent at 8867.45. About 1669 shares have advanced, 1067 shares declined, and 236 shares are unchanged. The BSE Smallcap and BSE Midcap index were trading 1.09 per cent and 1.44 per cent up at 12960.51 and 13300.46. Some buying activity is seen in oil & gas, utilities, banking, finance, capital goods and auto sectors, while IT and teck sector are showing weakness on BSE. The INDIA VIX is down 8.89% at 13.4875. SBI, Hero MotoCorp, ICICI Bank, Adani Ports and Asian Paints were top gainers while TCS, Axis Bank, Lupin, Coal India and Dr Reddy's Labs were losers in the Sensex.
• Nifty open gap up on Thursday and shown range range movement over the full market hour’s. Nifty next support would be 8700-8750.Traders can go short on a break below 8600. Range bound movement may be seen in Nifty ,if its maintain the level of 8800 so, up sided movement would be up to 9050-9150.

  NIFTY BANK FUTURE    

 NIFTY FUTURE :          R1:20327                 R2:20492                 R3:20635
 PIVOT :20183                S1:20018                  S2:19875                  S3:19710

stock cash tips

 NIFTY BANK OUTLOOK:-

• Bank Nifty open gap up and shown range bound movement over the full trading session on Thursday, Bank Nifty upward movement would be seen above 20000, below 19800 bank nifty downside level may be 19600-19400. BANK OF BARODA(-1.41%) and SBI BANK (-1.30%) is the top losers of the day.
• Bank nifty opened gap up at 20225.30, to its previous closing 19901.15 on Thursday and touched high of 20349.00. In Bank nifty bullish trend seen above the level of 20000-20500. if it’s maintain the level, then new level 20800-20900 will be expected. Below 19800 bank nifty downward movement seen in between the level of 19600-19400.

USD/INR

The Indian rupee gained in early trade on Thursday. It has opened higher by 16 paise at 66.86 per dollar-versus 67.02 Wednesday. FOMC at its meeting yesterday left the Fed funds rate unchanged even while the case for hiking has strengthened. Bank of Japan has also kept its policy rate unchanged while introducing yield curve control. The US dollar extended losses against a basket of major currencies after the US Federal Reserve left monetary policy unchanged and projected a less aggressive rise of interest rates in coming years.

USDINR :            R1:66.86             R2:67.03               R3:67.12
PIVOT : 66.77     S1:66.60              S2:66.51                S3:66.34

  GLOBAL MARKETS  

EUROPEAN MARKET

NAME                        CHANGE                            % CHANGE
FTSE100                        76.63                                     1.11
CAC 40                         100.27                                    2.22
DAX                              237.69                                    2.23
European markets finished broadly higher on Thursday with shares in Germany leading the region. The DAX is up 2.23% while France's CAC 40 is up 2.22% and London's FTSE 100 is higher by 1.11%.

Asian  MARKET


NAME                                CHANGE                  % CHANGE
NIKKEI                               225 315.47                    1.88
STRAITS TIMES              -4.68                               0.16
HANG SANG                      89.90                             0.38
TAIWAN WEIGHTED       6.76                                0.07
Asian markets closed sharply higher today with shares in Japan leading the region. The Nikkei 225 is up 1.91% while Hong Kong's Hang Seng is up 1.82% and China's Shanghai Composite is up 1.31%. 

FII/DII ACTIVITY 

TOP GAINERS:-

 TOP LOSERS:-

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

STOCK FUTURES TIPS:-

NIFTY FUTURE :      R1:8847                     R2:8887                   R3:8919
PIVOT :8816             S1:8775                     S2:8744                    S3:8704

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The market has ended flat ahead of Fed meeting. The Sensex is down 15.78 points at 28507.42 and the Nifty is up 1.25 points at 8777.15. European stocks rallied after the Bank of Japan announced new monetary policy measures and as investors awaited the outcome of the US Federal Reserve's meeting. ICICI Prudential Life Insurance's IPO, the first by an insurer in India, has been oversubscribed 4.34 times till afternoon trade on the last day of the offer today. The BSE Mid-cap Index is trading up 0.23% at 13,150 whereas BSE Small-cap Index is trading up 0.50% at 12,861.

STRATEGY: Buy Nifty Future above 8810 for the target of 8860 -8910 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Supreme Court in its latest ruling has lifted the ban on diesel vehicles with engines larger than 2,000 cc in the Delhi NCR region. The concession has been made against the clause of paying a 1% cess, which will be paid to the Delhi Pollution Control Board. The government authority will then utilise this money to find ways to lower pollution in Delhi. The payment will have to be made by the carmaker before the vehicle can be registered and hence the payment will be made on the ex-showroom prices. In case of non-payment, the vehicle will not be registered by the concerned transport authority. This news comes as a great relief for companies such as Mercedes-Benz, Tata Motors, Ford, Chevrolet and Toyota.
• Sun Pharmaceutical Industries Ltd has announced the following consolidated results for the quarter ended June 30, 2016.The company has posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs.2033.71 crore for the quarter ended June 30, 2016 as compared to Rs.555.90 crore for the quarter ended June 30, 2015. Total Income has increased from Rs.6925.60 crore for the quarter ended June 30, 2015 to Rs.8400.09 crore for the quarter ended June 30, 2016.
• State Bank of India has announced the following results for the quarter ended June 30, 2016
  The Unaudited Standalone results for the Quarter ended June 30, 2016 The Bank has posted a net profit of Rs. 25209.60 million for the quarter ended June 30, 2016 as compared to Rs. 36924.30 million for the quarter ended June 30, 2015. Total Income has increased from Rs. 447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million for the quarter ended June 30, 2016.

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|stock futures tips|Equity Research Lab :- Nifty Report 21 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :                     R1:8822                   R2:8838                        R3:8856
PIVOT :8804                            S1:8788                    S2:8770                        S3:8754

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Nifty closed with a loss of 33 points at 8,776. The NSE Nifty opened at 8,816 hitting a high of 8,816.45 and low of 8,759. The Indian equity market snapped a four-day winning streak on Tuesday led by profit booking, coupled with negative global cues and caution ahead of major global financial events. Today’s major decline was led by the realty, power, capital goods, FMCG, auto, IT and telecom stocks, while metal and oil & gas among the gainer. The India VIX (Volatility) index was down 1.07% at 14.7800. Out of 1,501 stocks traded on the NSE, 900 declined and 526 advanced today. The BSE Midcap and Smallcap indices closed lower. The rupee was trading down seven paise at 67.03 per US dollar.

STRATEGY: Buy Nifty Future above 8810 for the target of 8860 -8910 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Cadila Healthcare announced that Zydus Cadila will work in partnership with Japan’s Takeda Pharmaceutical Company to develop a vaccine for Chikungunya. Cadila Healthcare is Zydus Cadila’s group firm. Shares closed up by 1.3%.
• Castrol India Ltd closed up 8.8% after two huge block deals. Around 4.2 Cr shares or 8.5% stake of the company changed hands in the two block deals.
• Mangalam Cement’s new cement grinding unit at Aligarh, UP, commenced commercial production today. The capacity of the plant is 0.75 Million Ton Per Annum. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA. Shares closed up by 3.5%.

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|stock futures tips|Equity Research Lab :- Nifty Report 20 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8854                       R2:8876                           R3:8903
PIVOT :8826              S1:8804                       S2:8776                            S3:8754

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The NSE Nifty closed with a gain of 29 points at 8,808. The NSE Nifty opened at 8,788.45 hitting a high of 8,824 and low of 8,774.20.The Indian equity market rallied for the fourth straight session. Positive cues from Asian markets aided the upmove on the domestic bourses. Today's rally was led by realty, metal, oil & gas, utilities, basic materials, industrial, power, IT, banking and pharma stocks, while, FMCG index was the only losing index on the BSE. However, broader markets outperformed the benchmark indices, BSE Midcap and Smallcap indices gained over 0.50% each. The India VIX (Volatility) index was up 2.46% at 14.9400.

STRATEGY: Buy Nifty Future above 8840 for the target of 8890 -8940 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Gujarat Alkalies and Chemicals announced an agreement with Chematur Engineering AB of Sweden for procuring detailed engineering and project management services for the establishment of a 14,000 mtpa H202 (Hydrogen Peroxide) plant in Dahej.
• Heritage Foods is in discussion with Future Group to sell its retail business. The retail arm of Heritage has been a loss making one and its sale could prove to be beneficial to the company. The deal could give Future Group a network of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru. Shares of Heritage Foods closed up 10.2%.
• Petron Engineering Construction closed 20% upper circuit after the company received a Letter of Intent (LOI) from Shree Cement, for civil work at their cement plants in Aurangabad, Bihar and at Gulbarga, Karnataka. The total value of the contract is worth Rs. 50 Cr.

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|stock futures tips|Equity Research Lab :- Nifty Report 19 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :    R1:8868                   R2:8928                        R3:8977
PIVOT :8818           S1:8758                    S2:8709                        S3:8649

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 8800 will increase the downside pressure and drag it to 8500/8400. Traders can go short on a break below 8800.On the other hand, a decisive break above 8970 will ease the downside pressure and take the index futures higher to 9050 and 9150 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: Nifty recaptures 8,800 mark on account of upbeat global cues on Friday. Traders took encouragement with report that Prime Minister Narendra Modi targeting to roll out the ambitious GST on April 1 next year, has directed that all steps required in this direction should be completed before that date. He has also said that GST Council would need to have intensive meetings to be able to make timely recommendations relating to its mandate. Midcap and smallcap stock were under performing benchmark index. The BSE Midcap and BSE Smallcap index were down by 0.42 per cent and 0.10 per cent, whereas BSE Sensex was up 0.57 per cent in the last afternoon trade.

STRATEGY: Buy Nifty Future above 8810 for the target of 8860 -8910 with the stop loss of 8740.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Shares of Wockhardt closed up 8.6% after reports suggested that the company’s Chikalthana plant received clearance from the US Food and Drug Administration (USFDA). The plant contributes nearly 75% of the revenues of the company.
• Den Networks rallied nearly 8% after the board announced that it will discuss and approve the allotment of preferential shares to their leading global financial investors.
• India’s merchandise exports declined 0.3% to $23.51 bn, on a YoY basis for the month of August. The import bill declined 14.1% to $29.2 bn in the month. Trade deficit narrowed to $7.67 bn from $12.4 billion, on the back of stable crude prices and sharp fall in gold imports.

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