|stock futures tips|Equity Research Lab :- Nifty Report 13 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8766                   R2:8793                   R3:8810
PIVOT :8749              S1:8722                   S2:8705                    S3:8679

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: Sensex and Nifty ended on a flat note on Monday with marginal gains amid a lacklustre trade. Earlier, markets kicked off the day on a positive note with NITI Aayog Vice-Chairman Arvind Panagariya’s statement that India can become a $10 trillion economy in the next 15 years, from the existing $2 trillion, like China did in last one and a half decade. Weaker than expected US jobs figures lent a positive bias at open, but investors looked to play it slow with the CPI and IIP numbers scheduled in the latter half of the week. With so much to look ahead, few stocks made substantial moves, even though market breadth was positive. Meanwhile, potential for banks’ full transmission of RBI’s rate cut has kept investors reasonably optimistic about growth. Asian peers made a mixed closing on Monday, as oil prices retreated on doubts over oil producers reaching a meaningful output cut deal, which brought some speculators to unwind bullish bets. Markets in Japan, Hong Kong and Taiwan were closed for public holidays.

STRATEGY: Buy Nifty Future above 8750 for the target of 8800 -8850 with the stop loss of 8670.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Fiem Industries signed a technology License and assistance agreement with Japanese companies - Aisan Industry Co and Toyota Tsusho Corporation for manufacturing an emission control product called Canister. The product will be used in 2-wheelers and 3-wheelers to meet the requisites of the change in various pollution norms. Shares closed up 1.6%.
• South Indian Bank reported an 18.4% in net profits of Rs. 110.5 Cr in Q2FY17, as against Rs. 93.4 Cr in the corresponding period last fiscal. The revenues of the bank grew by 4.6% (YoY) to Rs. 1596.1 Cr. Gross NPAs stood flat at 3.96% on a (QoQ) basis, whereas net NPAs reduced to 2.77% against 2.89% in the previous quarter.
• Tata Motors’ Jaguar and Land Rover reported a 28% increase in their September sales. The automobile company sold 61,047 units in the month on the back of strong demand in all major regions. Sales in China increased by 50%, 32% in Europe, 30% in UK, 23% in North America and 3% in other overseas markets. Shares closed up 2.6%.

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