|stock futures tips|Equity Research Lab :- Nifty Report 30 November

STOCK FUTURES TIPS:-

NIFTY FUTURE :        R1:8212                          R2:8252                             R3:8285
PIVOT :8179               S1:8139                           S2:8106                             S3:8066

free trading tips

   CHART INTERPRETATION   

Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7750. Traders can go short on a break below 8000.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 7900. 7900 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 7900 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 started off Tuesday's trade on a strong note with the Sensex rising 237 points intraday but pared gains amid late profit booking. The selling pressure was seen in FMCG, technology and select banks while auto, oil and telecom stocks gained. Investors maintained cautious stance ahead of macro-economic data - GDP, fiscal deficit and core sector. The market gained for the third consecutive session, though it closed off day's high. Sensex rose 43.84 points and Nifty advanced 15.25 points after hitting a two-week high of 8197.35. The broader markets also halved gains with the BSE Midcap and Smallcap indices rising half a percent each on positive breadth. The rupee was trading at 68.65 per US dollar. On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index closed higher 0.19% and Hong Kong’s Hang Seng index slipped 0.41% while Nikkei 225 also slipped 0.27%. In Europe, the FTSE 100 was down 0.45%. CAC 40 and DAX were trading in green.

STRATEGY: Buy Nifty Future above 8150 for the target of 8200 -8250 with the stop loss of 8070.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Natco Pharma has received final approval for Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the United Food and Drug Administration for generic version of Armodafinil Tablets, 50 mg, 150 mg and 250 mg. The Company and its marketing partner Breckenridge Pharmaceutical, Inc. plant to launch this product in USA market immediately.
• Adani Ports & Special Economic Zone announced that the Company has raised Rs. 1,300 cr on 29 November 2016 by allotment of 13,000 Rated, Listed, Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000/- each on private placement basis.
• Fortis Healthcare said in a notice to BSE that it got notice from DB Trustees and Stanchart PE for conversion of FCCBs equivalent to 18 million shares. The company will convert 2018 FCCBs in to shares at Rs99.09 a share.

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