|stock futures tips|Equity Research Lab :- Nifty Report 02 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8845                       R2:8881                          R3:8908
PIVOT :8818              S1:8781                       S2:8754                           S3:8717

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 8600 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8600.On the other hand, a decisive break above 8820 will ease the downside pressure and take the index futures higher to 8900 and 8950 there after.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: The bulls took a breather on Thursday as equity benchmarks closed range bound session marginally lower after rallying for previous three consecutive days. Sell-off in telecom stocks on Jio's tariff plans & profit booking in Reliance Industries dampened the market sentiment but FMCG, metals, auto and select banks limited the downside. Subdued Q1 GDP and July core industries data also weighed on the market. The market may not see major selling pressure in near term as foreign investors started pumping in more money into Indian equities again after showing caution last week ahead of Federal Reserve Chief speech. FII bought Rs 1,800 crore worth of shares during the week (till Wednesday) against outflow of over Rs 100 crore last week.

STRATEGY: Buy Nifty Future above 8850 for the target of 8900 -8950 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Maruti Suzuki registered a 12.2% rise in its total car sales for the month of August 2016 at 1,32,211 units, as against 1,17,864 units in August 2015. Passenger cars segment grew at 4.4% to 90,269 as compared to 86,454. Utility Segment grew by 114.5% to 16,806 as compared to 7,836 units. Domestic sales increased by 12.3% whereas exports grew by 10.8%.
• Apollo Hospitals Enterprise Ltd reported a 17.5 % drop in Net profit of Rs. 72.2 Cr for Q1 as compared to Rs. 87.5 Cr in the corresponding period last fiscal. Total Income stood at Rs. 1,465 Cr, as against Rs. 1,306 Cr previously, up by 12.2%.
• The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) surged to 52.6 in August 2016, from 51.8 in July 2016, indicating a faster expansion in the manufacturing activity in India.

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