|stock futures tips|Equity Research Lab :- Nifty Report 12 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8947                     R2:8990                    R3:9018
PIVOT :8918             S1:8875                     S2:8847                    S3:8804

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 closed lower on profit booking. The Sensex was down 248.03 points or 0.8 percent at 28797.25, and the Nifty slipped 85.80 points or 0.9 percent at 8866.70. About 1138 shares advanced, 1612 shares declined, and 199 shares were unchanged. The BSE Mid-cap Index is trading down 0.65% at 13,392 whereas BSE Small-cap Index is trading down 0.22% at 12,892. Some buying activity is seen in telecom, oil & gas, pharma, power, utiities and energy sectors, while banking, metal, finance, FMCG, auto and consumer durables sectors are showing weakness on BSE. The INDIA VIX is up 0.64% at 13.2000.

STRATEGY: Buy Nifty Future above 8900 for the target of 8950 -9000 with the stop loss of 8830.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Kaya Middle East, DMCC, a foreign subsidiary of Kaya, entered in a pact to purchase 75% in Sharjah based companies Minal Medical Centre and Minal Specialized Clinic Dermatology. Shares of Kaya closed zoomed 7.6%.
• Zensar Technologies secured a multi-million dollar digital transformation project from Avis Fleet in South Africa. Leveraging on Zensar’s expertise, the project will enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. Shares of Zensar closed up by 3%.
• Multilateral agency - Asian Development Bank (ADB) might purchase 10-15% stake of IDBI Bank from the Government of India, who currently holds 74% stake in IDBI. Shares closed up 4.9%.

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