|stock futures tips|Equity Research Lab :- Nifty Report 14 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :          R1:8655                   R2:8729                       R3:8781
PIVOT :8603                  S1:8528                  S2:8476                        S3:8401

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: The Sensex and Nifty slumped over 1.50 per cent on Thursday as investors preferred to cut their bets after the minutes of the US Federal Reserve’s September meeting indicated a possible rate hike this year. Subdued global markets and weak macroeconomic data too dampened market sentiments. The 30-share index closed 439.23 points down at 27,643.11, while the 50-share index shed 135.35 points at 8,573.35. Markets also stood cautious ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday. Shares of TCS closed 2.17 per cent down at Rs 2328.50 ahead of the second quarter result later in the day.

STRATEGY: Sell Nifty Future below 8550 for the target of 8500 -8450 with the stop loss of 8630.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• IndusInd Bank reported a 25.8% rise in net profit to Rs. 704.3 Cr in Q2 FY17, against Rs. 560 Cr in the corresponding quarter last fiscal. NII grew by 33.5% to Rs. 1,460.3 Cr. Net NPA stood at 0.37% against 0.38% in Q1 and Gross NPA stood at 0.90% against 0.91% in the previous quarter.
• Cipla received an Establishment Inspection Report (EIR) from the US Food & Drug Administration (FDA) for its Indore facility. The report indicated formal closure of the inspection conducted in 2015.
• KEC International bagged orders worth Rs. 1,192 Cr in various segments. The company received Transmission and Distribution projects worth Rs. 859 Cr in India, Africa, North and South America, cable orders worth Rs. 105 Cr, orders for Railways overhead electrification worth Rs. 120 Cr and Rs. 108 Cr worth EPC project for solar power projects.

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