NIFTY FUTURE : R1:8793 R2:8817 R3:8855
PIVOT :8755 S1:8730 S2:8692 S3:8668
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| stock future tips |
- 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 thereafter.
- Mechanical indicator stochastic RSI also showing consolidated trend.
NIFTY FUTURE: The Indian equity market fluctuated between gains and losses and closed higher
on Wednesday. The domestic market snapped a two-day losing streak. Basic Materials, consumer
durables, utilities, banking, power, industrial and telecom stocks led from the front, while IT, energy and teck stocks were among the major loser. On the economic front, India's wholesale-price index (WPI) rose 3.74% in August, quicker than the 3.55% increase in July. IIP fell 2.4% in July 2016 over the same month last year. Industrial production expanded 2.1% in June 2016 over the year-ago month, while consumer price index (CPI) for August 2016 slowed to 5.05%. The India VIX (Volatility) index was down 3.13% at 14.7625. The rupee was trading up 2 paise at 66.90 per US dollar.
on Wednesday. The domestic market snapped a two-day losing streak. Basic Materials, consumer
durables, utilities, banking, power, industrial and telecom stocks led from the front, while IT, energy and teck stocks were among the major loser. On the economic front, India's wholesale-price index (WPI) rose 3.74% in August, quicker than the 3.55% increase in July. IIP fell 2.4% in July 2016 over the same month last year. Industrial production expanded 2.1% in June 2016 over the year-ago month, while consumer price index (CPI) for August 2016 slowed to 5.05%. The India VIX (Volatility) index was down 3.13% at 14.7625. The rupee was trading up 2 paise at 66.90 per US dollar.
SECTORIAL INDICES
CORPORATE NEWS
- August’s Wholesale Price Index (WPI) rose to 3.74% as compared to 3.55% in July 2016. Inflation in manufactured products, constituting almost 65% of the WPI, rose to 2.42% in August, up from 1.82% in July. WPI Food Inflation fell to 8.23% from 11.82% in July.
- Hindustan Construction Company (HCC) bagged a contract worth Rs. 181 Cr from the Department of Atomic Energy. The project is for the construction of a high rise residential complex at Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam in Tamil Nadu. Shares of HCC closed up 8%.
- IL&FS Transportation Networks Ltd informed bourses that its board approved of raising Rs. 5,000 Cr via public issue of non-convertible debentures in one or more tranches. Shares closed up 4.3%.
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