|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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