|stock futures tips|Equity Research Lab :- Nifty Report 12 December

STOCK FUTURES TIPS:-

NIFTY FUTURE :         R1:8295                     R2:8313               R3:8333
PIVOT :8275                S1:8257                      S2:8237               S3:8218

stock future tips

   CHART INTERPRETATION   

Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7800. Traders can go short on a break below 8000.On the other hand, a decisive break above 8200 will ease the downside pressure and take the index futures higher to 8300 and 8350 thereafter. MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum. This week, the indices tested the short term average of 22dma Nifty – 8242 but could not close above it. the indices continue to remain below the medium term average of 50dma Nifty – 8430 but above the long term average of 200dma Nifty – 7600. Thus the trend in the short term and medium term timeframe remains bearish whereas the trend in the long term timeframe still continues to remain Bullish.

MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

   INDEX OUTLOOK     
NIFTY FUTURE: Sensex, Nifty are trading in green although the market has been volatile since morning. Nifty Auto was trading in red and down 0.79% while Nifty Bank was trading in green and up at 0.69%. Nifty Media, Nifty PSU bank and Nifty Realty were witnessing an uptrend. Also, the traders are in cautious mode ahead of the US Federal Reserve's Monetary Policy meeting. The industry is hoping that there will be a rate hike by the US Fed in the coming week. Nifty is trading at 8,256 up 9 points. A total of 28 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52- week low on the NSE. The BSE Mid-cap Index is trading up 0.03% at 12512.05, whereas BSE Smallcap Index is trading up 0.62% at 12332.11. Some buying activity is seen in Bank, Consumer Durables, Information Technology, FMCG while Auto, Capital Goods, Metal are showing weakness on BSE. The INDIA VIX is down 2.01% at 15.2125.

STRATEGY: Buy Nifty Future above 8300 for the target of 8350 -8400 with the stop loss of 8230.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Mahindra & Mahindra announced that it will observe few days as no production days at some of its plants on need basis during December year-end. Shares closed down 1.66%.
• IL&FS Engineering and Construction Company announced that the company had emerged as the lowest bidder for rural electrification works of Jharkhand Bijli Vitran Nigam (JBVNL), Ranchi, worth Rs. 225Cr.
• Strides Shasun announced the acquisition of a US FDA approved API unit in India. The API unit belongs to Perrigo API India and had a turnover of Rs. 73.8 Cr in FY16. Shares closed up 3.5%.

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