|stock futures tips|Equity Research Lab :- Nifty Report 26 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8878                 R2:8913                R3:8937
PIVOT :8854            S1:8819                 S2:8795                 S3:8760

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 declined on Friday on account of profit booking by investors, a day after they rallied following US Federal Reserve’s decision to keep the rates unchanged. Weak opening in European markets further dampened market sentiments in Friday’s trade. Sentiments are stood under pressure after rupee weakened against the dollar at the Interbank Foreign Exchange market on fresh demand for the American currency from importers. The BSE Midcap and Smallcap indices closed in green. The rupee was trading flat by one paise at 66.66 per US dollar.

STRATEGY: Sell Nifty Future below 8800 for the target of 8750 -8700 with the stop loss of 8870.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Den Networks’ board approved the allotment of 1.58 Cr shares on a preferential basis to two affiliates of Goldman Sachs at Rs. 90 apiece. Board Street Investments (Singapore) and MBD Bridge Street 2016 Investments (Singapore) will be offered the shares in a cash consideration. Shares of Den Network closed at 80.8, up by 3.3%.
• Brigade Group announced a Memorandum of Understanding (MoU) with an online, rental solution provider – Nestaway. Through the collaboration, the real estate group can offer comprehensive rental assistance to its existing customers and over 10,000 apartments that are in different stages of construction.
• Gayatri Projects bagged a project worth Rs. 1,255 Cr in a Joint Venture with Russian construction company PTPS. NHAI allotted the contract for rehabilitation and up gradation to 4-laning of Angul- Sambalpur section of the NH-42 in Odisha. Shares closed up 3.2%.

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