|stock futures tips|Equity Research Lab :- Nifty Report 06 OCTOBER

STOCK FUTURES TIPS:-

NIFTY FUTURE :      R1:8825                   R2:8875                      R3:8913
PIVOT :8787             S1:8737                   S2:8699                       S3:8649

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: Indian shares erased its gains initial gains and were trading marginally lower due to weak Asian cues. The Nifty reclaimed its crucial level of 8,800 supported by gains in realty, power, metal, consumer durable, capital goods, auto, and banks. The BSE Mid-cap Index is trading up 0.50% at 13,317 whereas BSE Small-cap Index is trading up 0.61% at 13,289. The Nikkei India Services Business Activity Index registered 52 in September, down from August’s 43 month high of 54.7, the latest reading pointed to a slower rate of expansion that was moderate overall. ICICI Bank is trading marginally lower at Rs.257.15 on the BSE. ICICI Bank took the lead with a 0.05% reduction in its marginal cost of funds-based lending rate to 9.05%. Bharat Forge dropped 1.8% to Rs.906.55 on the BSE after the media report stated its class 8 truck orders in U.S. fell by 27% to 13,800 units in September 2016.

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

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Force Motors Ltd reported domestic sales of 2,945 vehicles (1945 – LCV + SCV; 1534 – UV + SUV + Tractors) in September 2016, as against 2,514 units in September 2015, registering a healthy 17% growth. In terms of exports, the company sold 415 vehicles last month, more than double of September 2015’s figures, i.e. 206.
• NBCC received various orders worth Rs. 1,117 Cr, which included a Rs. 470 Cr order for the
  construction of a hospital from the labor ministry and a Rs. 270 Cr order for the construction of a complex for the UGC. The stock ended higher by 1.4%.
• Alembic Pharmaceuticals received an Establishment Inspection Report (EIR) from the US Food & Drug Administration (US FDA) for its formulation facility located in Panelav, Gujarat. The stock closed up 3%.

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