STOCK FUTURES TIPS:-
NIFTY FUTURE : R1:8860 R2:8880 R3:8913
PIVOT :8826 S1:8806 S2:8773 S3:8753
CHART INTERPRETATION
NIFTY FUTURE: The Nifty closed with a gain of 35 points at 8,810. The Indian equity market closed the week on a positive note as indices erased initial losses on Friday and closed higher. The upswing was aided by gains in auto, telecom, realty, utilities, finance, power, banking and pharma stocks. Sentiment got boost tracking firmness in European stocks markets. On the political front, the sentiments were optimistic on reports that Odisha become the 16th state to ratify the constitutional amendment bill passed by Parliament to introduce the goods and services tax, helping cross the important threshold of more than half the number of states needed for the proposed law to be sent for presidential assent. Finance Minister Arun Jaitley said India is protected from all the political and economic challenges that the world is facing and it provides immense opportunity for the country to grow further. The India VIX (Volatility) index was down 2.99% .
STRATEGY: Buy Nifty Future above 8850 for the target of 8900 -8950 with the stop loss of 8770.
NIFTY FUTURE : R1:8860 R2:8880 R3:8913
PIVOT :8826 S1:8806 S2:8773 S3:8753
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 8600 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8600.On the other hand, a decisive break above 8820 will ease the downside pressure and take the index futures higher to 8900 and 8950 there after.
- Mechanical indicator stochastic RSI also showing consolidated trend.
NIFTY FUTURE: The Nifty closed with a gain of 35 points at 8,810. The Indian equity market closed the week on a positive note as indices erased initial losses on Friday and closed higher. The upswing was aided by gains in auto, telecom, realty, utilities, finance, power, banking and pharma stocks. Sentiment got boost tracking firmness in European stocks markets. On the political front, the sentiments were optimistic on reports that Odisha become the 16th state to ratify the constitutional amendment bill passed by Parliament to introduce the goods and services tax, helping cross the important threshold of more than half the number of states needed for the proposed law to be sent for presidential assent. Finance Minister Arun Jaitley said India is protected from all the political and economic challenges that the world is facing and it provides immense opportunity for the country to grow further. The India VIX (Volatility) index was down 2.99% .
STRATEGY: Buy Nifty Future above 8850 for the target of 8900 -8950 with the stop loss of 8770.
SECTORIAL INDICES
CORPORATE NEWS
- Tata Motors’ Passenger and Commercial Vehicle sales in August stood at 43,061 vehicles, a growth of 6 percent, over 40,679 vehicles sales in August 2015. Domestic sales grew by 3% whereas exports were up by 27%. JLR's US sales grew by 46% to 9,329 vehicles, driven largely by recently launched F-PACE and XE.
- Cadila Healthcare’s oral solid dosage drug facility, located at SEZ, Ahmedabad, received an
establishment inspection report (EIR) from the USFDA. This is the third EIR for the company’s establishment in the current quarter. Shares went up by 2.3%. - Bajaj Auto reported a 5% fall in total sales at 3,25,347 units in August 2016, as against 3,41,965 unit sales in August 2015. Motorcycle sales decreased by 4% to 2,79,977 units from 2,90,436 units sold previously. Commercial Vehicle reported a 12% decline. Also, exports went down by 31%.
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