|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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