|stock futures tips|Equity Research Lab :- Nifty Report 25 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :      R1:8748                    R2:8777                       R3:8806
PIVOT :8719             S1:8690                     S2:8661                       S3:8633

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: Equity benchmarks extended gains on Monday with the Nifty closing above 8700 level for the first time since October 6, supported by ICICI Bank, Tata Motors and ONGC. Positive global cues also lifted the market sentiment. The Sensex had rallied 1.5 percent last week. After a consolidation, Sensex was up 101.90 points at 28179.08 and the Nifty gained 15.90 points at 8708.95. The BSE Midcap underperformed benchmarks despite positive breadth. About 1679 shares advanced against 1168 declining shares on the exchange. The market to be in range of 8500-8900 till the end of December as US elections and Federal Reserve's December meeting will add to volatility. Currently, we are in a bounce and the bull market will begin only after Nifty touches 9100, which will happen next year.

STRATEGY: Sell Nifty Future Below 8700 the target of 8650 -8600 with the stop loss of 8770.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Greenply Industries reported an 11.9% increase in stand-alone revenue for Q2FY17 to Rs. 467 Cr, as compared to Rs. 417.3 Cr in the corresponding quarter last year. Net profit went up by 28.3% to Rs. 35.1 Cr against Rs. 27.4 Cr previously. Shares closed up 2.7%.
• Indiabulls Real Estate nearly doubled its Net profit to Rs. 135 Cr in Q2FY17, as compared to Rs. 76.1 Cr in the corresponding quarter last year. The topline stood flat at 710.6 Cr as compared to Rs. 722.5 Cr. The Net profit increased on the back high ‘other income’, which stood at 201.3 Cr against Rs. 68.9 Cr previously. Shares closed up 2.3%.
• Idea Cellular Limited reported a 2% fall in Net revenue to Rs. 9,300.2 Cr for Q2FY17 as compared to Rs. 9,486.6 Cr in Q1FY17. The company posted a 58.5% fall in Net profit to Rs. 90 Cr as compared to Rs. 217.1 Cr previously.

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