|stock futures tips|Equity Research Lab :- Nifty Report 03 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8675                R2:8710                    R3:8751
PIVOT :8634              S1:8599                S2:8558                      S3:8523

stock future tips

   CHART INTERPRETATION    

MACD and Price ROC are both positive and continue in Buy mode. RSI (55) suggests bearish momentum. This week, both the indices remained comfortably above the short term average of 20dma Nifty – 8740, medium term average of 50dma Nifty – 8654 and even the long term average of 200dma Nifty – 8250. Thus the trend in the short term, medium term and even the long term time frame continues to remain Bullish. Key indices rose on bargain hunting after suffering steep losses yesterday, 29 September 2016 triggered by flare up in India-Pakistan tension after Indian Army in a press conference yesterday, 29 September 2016 revealed that it conducted surgical strikes against terror launch pads inside Pakistan occupied Kashmir. However, gains were capped by weakness in global stocks.

   INDEX OUTLOOK     

NIFTY FUTURE: Technically, Indian Stock Market is still in negative zone but market would see a bounce at lower levels near support in reaction to yesterday’s downfall. FIIs and DIIs have seen huge buying in yesterday’s downfall and that suggests that this downfall was temporary in nature. Nifty is lying near its major support level of 8500. 8500 is a make or break level on closing basis. If Nifty closes below those levels then a breakdown would be seen in the market and we can even see levels of 8200-8000- 7700 in days to come. But traders can take a chance here. Traders can go long near 8550 levels for Nifty with strict stop loss of 8500 on closing basis. There are strong chances for Market to see a bounce near those levels. So, traders can go long until Nifty holds 8500 and short once Nifty closes below 8500 levels. If Nifty holds 8500 for next couple of days then we would see a sharp positive rally. The major domestic event in the upcoming week is the Reserve Bank of India's (RBI) fourth bi-monthly monetary policy meeting scheduled on Tuesday, 4 October 2016

STRATEGY: Sell Nifty Future below 8640 for the target of 8590 -8540 with the stop loss of 8720.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Supreme Court in its latest ruling has lifted the ban on diesel vehicles with engines larger than 2,000 cc in the Delhi NCR region. The concession has been made against the clause of paying a 1% cess, which will be paid to the Delhi Pollution Control Board. The government authority will then utilise this money to find ways to lower pollution in Delhi. The payment will have to be made by the carmaker before the vehicle can be registered and hence the payment will be made on the ex-showroom prices. In case of non-payment, the vehicle will not be registered by the concerned transport authority. This news comes as a great relief for companies such as Mercedes-Benz, Tata Motors, Ford, Chevrolet and Toyota.
• Sun Pharmaceutical Industries Ltd has announced the following consolidated results for the
  quarter ended June 30, 2016.The company has posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs.2033.71 crore for the quarter ended June 30, 2016 as compared to Rs.555.90 crore for the quarter ended June 30, 2015. Total Income has increased from Rs.6925.60 crore for the quarter ended June 30, 2015 to Rs.8400.09 crore for the quarter ended June 30, 2016.
• State Bank of India has announced the following results for the quarter ended June 30, 2016
  The Unaudited Standalone results for the Quarter ended June 30, 2016 The Bank has posted a net profit of Rs. 25209.60 million for the quarter ended June 30, 2016 as compared to Rs. 36924.30 million for the quarter ended June 30, 2015. Total Income has increased from Rs. 447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million for the quarter ended June 30, 2016.

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