|stock futures tips|Equity Research Lab :- Nifty Report 20 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :    R1:8694                 R2:8723                     R3:8750
PIVOT :8667           S1:8638                  S2:8611                     S3:8582

stock future tips

   CHART INTERPRETATION    

Technically, A strong break below 8550 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8550.On the other hand, a decisive break above 8680 will ease the downside pressure and take the index futures higher to 8750 and 8800 thereafter. Indian Stock Market is still in negative zone but market would see a bounce at lower levels near support. Nifty is laying 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. If Nifty holds 8500 for next couple of days then we would see a sharp positive rally.

MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

   INDEX OUTLOOK     

NIFTY FUTURE: The Indian stock market ended lower in a volatile trading session on Wednesday, taking a breather after Tuesday’s surge. The stock market swung between gains and losses due to profit booking by funds and investors amid weak European cues. After opening with a positive bias, indices failed to carry forward the momentum. Nifty closed with a loss of 19 points at 8,659. Selling pressure was seen in FMCG, realty, banking, auto, finance and capital goods stocks, while power, utilities, telecom, pharma, energy and oil & gas stocks ended in green on the BSE. Investors kept an eye on the ongoing government meet on the goods and services tax (GST) for clarity on new rates. The India VIX (Volatility) index gained by 0.51% to 14.6125. The rupee was trading up four paise at 66.68 per US dollar.

STRATEGY: Buy Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Hindustan Zinc Limited reported income from operations in Q2FY17 at Rs. 3,877.5 Cr against Rs. 2,804.1 Cr in Q1FY17 and Rs. 4357.9 Cr in Q2FY16. EBITDA stood at Rs. 2,077 Cr, up by 84% QoQ and 6% up YoY. Net profit stood up 83.5% QoQ at 1901.9 Cr in the quarter.
• RBL Bank reported a sharp 38% increase in total revenues to Rs. 1,071 Cr in Q2FY17 against Rs. 776.6 Cr in Q2FY16. Net Profit increased 34.4% to Rs. 89.9 Cr for the period against Rs. 66.9 Cr in the corresponding quarter last fiscal. Gross NPA of the bank fell to 1.1% from 1.13% in the previous quarter, and, Net NPA fell to 0.55% against 0.66% previously.
• NIIT Limited reported a 10% topline growth in Q2 FY17 at Rs. 298.4 Cr against Rs. 272.5 Cr in the corresponding quarter of the previous fiscal. EBITDA grew by 13% YoY to Rs. 28.6 Cr. Operational PAT grew 43% YoY to Rs. 8.7 Cr as compared to Rs. 6.1 Cr previously.

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