|stock futures tips|Equity Research Lab :- Nifty Report 30 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8739                       R2:8890                 R3:8979
PIVOT :8650            S1:8499                       S2:8410                  S3:8259

stock future tips

   CHART INTERPRETATION    

• Nifty open gap up on Thursday and shown Sharp downfall after the Indian Army confirmed that it undertook surgical strikes across the Line of Control in Jammu and Kashmir at terror launchpads sending across a very strong message to Pakistan on Wednesday night. Nifty next support would be 8500-8570.Traders can go short on a break below 8600. Range bound movement may be seen in Nifty, if its maintain the level of 8800 so, up sided movement would be up to 9050-9150.
• Mechanical indicator stochastic RSI also showing consolidated trend.

   INDEX OUTLOOK     

NIFTY FUTURE: In a knee-jerk reaction to government claims that Indian Army conducted a surgical attack on Pakistan based terror camps on Wednesday night, domestic equity markets sharply plunged on Thursday in afternoon trade triggered by all round selling. Sensex tanked by 573 points following the announcement, while Nifty breached the 8,600 level by slipping 186.90 points, or 2.13 per cent, to 8,558.25. However, the markets have wiped off some losses, but were still down over a percentage point. The markets are expected to correct further if the tension between India-Pakistan escalates in the aftermath of Uri and surgical attacks. Market crashed on Thursday on account of rising tension between India and Pakistan. If the tension will escalate further we can see some correction going ahead.. If there will be no further strike market will find some solace from that. If Pakistan will not respond market will stablise. We can see some revision in Sensex and Nifty targets if Indo-Pak tension will escalates further.

STRATEGY: Sell Nifty Future below 8600 for the target of 8550 -8500 with the stop loss of 8680.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• The Organisation of Petroleum Exporting Countries (OPEC) agreed to cut its oil output for the first time since 2008. The group will cut production by 7,50,000 barrels per day to 32.5 million barrels per day.
• Larsen & Toubro’s (L&T) arm — L&T Constructions bagged orders worth Rs. 2,046 Cr across various business segments namely - Power Transmission & Distribution, Heavy Civil Infrastructure, Building and Factories, Residential and Transport Infrastructure.
• Dutch lender ING Group NV sold a part of its stake in private sector bank Kotak Mahindra to raise capital. About 4.7 Cr shares worth Rs. 3,718 Cr traded through multiple block deals at an average price of Rs. 784 apiece.

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