STOCK FUTURES TIPS:-
NIFTY FUTURE : R1:8724 R2:8769 R3:8851
PIVOT :8642 S1:8597 S2:8515 S3:8470
CHART INTERPRETATION
NIFTY FUTURE : R1:8724 R2:8769 R3:8851
PIVOT :8642 S1:8597 S2:8515 S3:8470
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.
NIFTY
FUTURE: The Indian stock market ended with smart gains on Tuesday as
the Sensex and Nifty hit its highest level since October 13, 2016. The
Nifty Bank index, which gained 2.2%, was the top performing sectoral
gauge led by ICICI Bank. This was the indices biggest single day jump
since May 25 of this year. Nifty closed with a gain of 158 points at
8,678. The NSE Nifty opened at 8,556 hitting a high of 8,685 and low of
8,556.Investors now await a government meeting on the GST for clarity on
rates. The three-day meeting of the GST Council, comprising federal and
state finance ministers, will decide the main tax rate and those for
different sectors. Among the 50-stocks of Nifty, Adani Ports, ICICI
Bank, HDFC, Tech Mahindra, Tata Steel, HCL Tech, Yes Bank and BHEL were
among the gainers on NSE, whereas Bharti Infratel, Asian Paints, ONGC
and BPCL were among the losers today. The India VIX (Volatility) index
was down 7.13% at 14.5375. The rupee was trading up 18 paise at 66.70
per US dollar.
STRATEGY: Buy Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.
STRATEGY: Buy Nifty Future above 8700 for the target of 8750 -8800 with the stop loss of 8630.
SECTORIAL INDICES
CORPORATE NEWS
- Yes Bank reported a 24.7% increase in total revenues to Rs. 4,982.2 Cr in Q2FY17 against Rs. 3,995.3 Cr in Q2FY16. Net Profit increased 31.3% to Rs. 801.5 Cr for the period against Rs. 610.4 Cr in the corresponding quarter last fiscal. Gross NPA of the bank stood at 0.83% from 0.79% in the previous quarter, and, Net NPA was flat at 0.29%.
- LIC Housing Finance reported a 20.2% increase in Net Profits at Rs. 494.8 Cr for Q2FY17 against Rs. 411.7 Cr in the previous quarter last year. Net interest income (NII) rose 21% to Rs. 866 Cr from Rs. 717 Cr previously. Gross NPA stood at 0.57% from 0.60% in the previous quarter, and, Net NPAs stood at 0.28% against 0.32%.
- Kajaria Ceramics reported a 7.7% year on year (YoY) growth in consolidated net profit at Rs. 63.6 Cr for Q2FY17 against Rs. 59.1 Cr in the corresponding quarter in the previous fiscal. Net sales grew 3% at Rs. 629 Cr in Q2FY17 against Rs. 607 Cr previously.
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