|stock futures tips|Equity Research Lab :- Nifty Report 15 November

STOCK FUTURES TIPS:-

NIFTY FUTURE :             R1:8430                       R2:8532                      R3:8590
PIVOT :8373                     S1:8270                       S2:8213                      S3:8111

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: It was free fall on Dalal Street mostly due to profit booking. The Sensex is down 698.86 points or 2.5 % at 26818.82 and the Nifty is down 229.45 points or 2.7 % at 8296.30. About 462 shares have advanced, 2223 shares declined, and 146 shares are unchanged. The midcaps underperformed the benchmark indices closing 3.5 % in the red while the bank stocks slipped more than 2 %. Nifty auto was another index which took a beating and ended more than 4.5 % down. Pharma stocks were relative outperformers ending the day four-fifth of a percent in the negative territory. The India VIX index was up 12.34% to 17.3650. Out of 1,479 stocks traded on the NSE, 1,348 declined and 110 advanced today. The BSE Midcap and the Smallcap index closed in the red. The rupee was trading down 55 paise at 67.17 per US dollar.

STRATEGY: Sell Nifty Future below 8300 for the target of 8250 -8200 with the stop loss of 8380.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• State Bank of India (SBI) reported a 34.6% drop in Net Profit for Q2 to Rs. 2,538.3 Cr as against Rs. 3,879.1 Cr in the corresponding quarter last year. NII increased marginally to Rs. 14,437 Cr in Q2 as against Rs. 14,253 Cr previously. Asset Quality worsened as gross NPAs stood at 7.14% of advances as compared to 6.94% in the previous quarter and net NPAs stood at 4.19% as compared to 4.05% previously.
• Mahindra & Mahindra (M&M) reported a 27% in Net Profit to Rs. 1,163.3 Cr in Q2, as against Rs. 915.4 Cr in the corresponding quarter last year. The total standalone revenue from operations stood at Rs. 11,363.6 Cr in Q2 as against Rs. 9,834.4 Cr previously. Sales volumes were up by 11.6% for the quarter at 1,14,795.
• Apollo Hospitals reported a marginal 2.7% increase in Net Profit for Q2FY17 to Rs. 92 Cr as against Rs. 89.6 Cr in the corresponding quarter last year. Income from operations of the company rose 16% to Rs. 1,634.1 Cr for Q2 as against Rs 1,409.7 Cr previously.

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