|stock futures tips|Equity Research Lab :- Nifty Report 28 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :             R1:8762                      R2:8808                      R3:8841
PIVOT :8730                     S1:8684                      S2:8651                      S3:8605

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 Indian stock market ended in the red as indices extended losing streak to third consecutive trading session on Tuesday. The Nifty fell below 8,700 for the first time in 9 sessions. After starting off on a positive note markets remained subdued in the first half, however as the day progressed selling pressure accentuated. Weak global cues and profit booking weighed on the domestic markets. Heavy selling was witnessed in capital goods, telecom, oil & gas, metal, banking, auto and energy stocks, while IT, pharma, realty and technology stocks were among the gainers. The India VIX (Volatility) index was down 2.16% at 14.2500. Out of 1,461 stocks traded on the NSE, 806 declined and 597 advanced today. The rupee was trading up 13 paise at 66.46 per US dollar.
STRATEGY: Sell Nifty Future below 8700 for the target of 8650 -8600 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• IRV Infrastructure Developers received a letter of award from the National Highways Authority of India (NHAI) for a highway project in Rajasthan and Gujarat. The contract worth is Rs. 2,100 Cr.
• Yes Bank will raise Rs. 330 Cr through issuance of 7-year old green infrastructure bond to FMO, Dutch Development Bank, on a private placement basis.
• The US Food & Drug Administration (FDA) raised concerns and issued form 483 whilst also stating 6 observations for Indoco Remedies’ Goa Plant 2 & 3. The observation covers production quality, facilities and equipment. Shares tanked as much as 9% during intraday trade.

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