|stock futures tips|Equity Research Lab :- Nifty Report 04 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :      R1:8825                            R2:8872                           R3:8957
PIVOT :8741             S1:8694                            S2:8609                            S3:8562

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: Nifty in its daily time series chart has formed a relatively large range candlestick pattern with little shadow in both side. The positive close indicating dominance of the bulls from the beginning of the trading session till the end. If we consider the recent fall last week this is significant recovery and we can expect market to give strong directional movement going forward. Momentum indicators after the recent range bound movement starting to fall and indicating divergence. However, we want price action to confirm the direction first before commenting this is the sign of weakness. The chances of a bounce back can’t be ruled out as the overall market trend is sideways and it is trading at the lower end of the channel. From medium term perspective the key resistance is at 8,800 level. We expect this level as an important one and is likely to offer strong supply. Breaking of the level market will find the momentum which is lacking couple of days and will then set for moving above the recent swing high at 9,000 level.

STRATEGY: Buy Nifty Future above 8800 for the target of 8850 -8900 with the stop loss of 8720.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Some major Auto companies reported their monthly sales numbers. Bajaj Auto reported a 2% overall drop in sales to 376765 units as against 384400 units previously. TVS Motors registered a 26% growth in sales from 232744 units in Sept 2015 to 293257 units in Sept 2016. Maruti-Suzuki sold 1,49,143 vehicles in Sept 2016 as against 1,13,759 units in Sept 2015, registering a growth of 31.1%.
• CDPQ – North America’s Largest Pension Fund Manager, picked up a 20% stake in Edelweiss Asset Reconstruction Company (EARC). The partnership agreement includes target investments by CDPQ of Rs. 5000 Cr over 4 years that will provide Edelweiss with capital to invest in stressed assets and private debt opportunities in India. Shares of Edelweiss Capital closed up 8%.
• Jubilant Life Science Ltd said in a notice to BSE that it got USFDA approval for RUBY-FILLRubidium 82 Generator and Elution System. The product is expected to be launched in the current quarter (Q3FY17).

If you want to more information regarding the Stock cash tips, Stock tips,Stock futures tips, Stock futures services, Equity tips  call @ 8109999233 or fill form http://equityresearchlab.com/Freetrial.php