|stock futures tips|Equity Research Lab :- Nifty Report 07 september

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8991                        R2:9021                R3:9074
PIVOT :8938              S1:8908                        S2:8856                S3:8825

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.

   INDEX OUTLOOK     

NIFTY FUTURE: Sensex jumped over 310 points and the NSE Nifty reclaimed the key 8,900- mark for the first time since March last year at mid-session today on across-the-board buying led by banking, auto and consumer durables stocks amid sustained foreign fund inflows. All BSE sectoral indices were trading in the green. The BSE Mid-cap Index is trading up 1.38% at 13,414 whereas BSE Small-cap Index is trading up 0.89% at 12,756. The INDIA VIX is up 0.96% at 13.0650. Tata Motors Ltd is currently trading at Rs. 566.55, up by Rs. 16.75 or 3.05% from its previous closing of Rs. 549.8 on the BSE. Jaguar Land Rover, the British luxury vehicle unit of Tata Motors, is planning to make Land Rover SUVs in India for the local market and exports, as per media reports.

STRATEGY: Buy Nifty Future above 8950 for the target of 9000 -9050 with the stop loss of 8870.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Infosys entered a Joint Venture (JV) with Saudi Prerogative Company (SPC) in a bid to provide IT services to customers in the Kingdom of Saudi Arabia. Infosys will hold 70% stake in the JV. Shares of the company closed up 1.4%.
• Reliance Capital raised Rs. 2,000 Cr via non-convertible debentures on a private placement basis. The company plans to expand its lending business and refinance their existing debt.
• Construction Companies - Ahluwalia Contracts and Pennar Engineered Building Systems secured contracts worth Rs. 244.1 Cr and Rs. 203 Cr respectively.

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