|stock futures tips|Equity Research Lab :- Nifty Report 16 November

STOCK FUTURES TIPS:-

NIFTY FUTURE :        R1:8243                    R2:8347                        R3:8407
PIVOT :8183               S1:8079                     S2:8020                        S3:7916

stock future tips

   CHART INTERPRETATION   

Technically, A strong break below 8100 will increase the downside pressure and drag it to 7900/7750. Traders can go short on a break below 8100.On the other hand, a decisive break above 8280 will ease the downside pressure and take the index futures higher to 8450 and 8550 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 8100. 8100 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 7900-7700-7700 in days to come. If Nifty holds 8100 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: Indian Market succumbed to more selling on Tuesday as the demonetization effect and weak earnings drove the Sensex lower by 565 points and the Nifty below 8100 intraday. Strengthening of bond yields and US dollar on US president-elect Donald Trump policy also weighed on market sentiment. Equity benchmarks closed below their 200-daily moving average. Sensex tanked 514.19 points or 1.92 percent to 26304.63, the lowest closing level since May 25, taking the total loss for two consecutive days to 1200 points. Nifty was down 187.85 points or 2.26 % to close at 8108.45 after hitting an intraday low of 8093.20. demonetization will be negative for equities in short term, adding that the move is a positive for bond and currency markets. Besides, demonetization will help increase deposit growth of banks significantly.

STRATEGY: Sell Nifty Future below 8100 for the target of 8050 -8000 with the stop loss of 8180.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• HPCL reported a sharp 66.6% QoQ fall in Net Profit in Q2FY17 at Rs. 701.3 Cr. The company reported a 7.1% fall in Net Income from Operations at Rs. 47,822.5 Cr in Q2 as against Rs. 51,661 Cr in the previous quarter. EBITDA fell 65.2% sequentially to Rs. 1,261 Cr and margins contracted by 442 bps to 2.6% in Q2.
• Tata Motors reported a significant drop in Net Profits to Rs. 848 Cr in Q2, as against Rs. 1,740 Cr in the corresponding quarter last year. Total Consolidated Revenues rose 6.7% to Rs. 67,999.7 Cr as against Rs. 62,647.2 Cr previously. Hedging losses worth Rs. 3,510 Cr affected the bottom line severely. JLR revenues for Q2 rose 23.2% to 5.95 billion pounds, and PAT improved at 244 million pounds. The company’s domestic unit reported a fall in Net Revenues to Rs. 11,406 Cr and a net loss of Rs. 289 Cr.
• GAIL (India) reported a 180% rise in Net Profit to Rs. 924.7 Cr for Q2 against Rs.330.4 Cr in the corresponding quarter last year. However, total Income from operations decreased 15.3% YoY to Rs.12,058.2 Cr during the quarter against Rs.14,240.4 Cr previously. Total expenditure decreased to Rs.10,879.8 Cr in Q2 FY17 from over Rs.13,731.3 Cr in Q2FY16.

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