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

STOCK FUTURES TIPS:-

NIFTY FUTURE :     R1:8227              R2:8256                  R3:8284
PIVOT :8199             S1:8170              S2:8142                  S3:8113

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   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: Nifty was down 39 points and closed at 8,182. It opened at 8,229.35 points, hitting a high of 8,229.40 and low of 8,165.10. The India VIX (Volatility) index was up 4.2% at 16.5. The BSE Midcap closed at 12241.1 and Smallcap indices closed at 12118.3, both closing marginally close to 1%. Out of 1508 stocks traded on the NSE, 1048 declined and 391 advanced today. Sentiments are in check as investors focus on the outcome of the US Central Bank announcement that is scheduled to occur later in the day. Any comments from the US Central Bank that they may hike interest rates aggressively next year could lead to a sell-off in emerging markets. The Indian Rupee was trading at 67.53 per dollar.

STRATEGY: Buy Nifty Future above 8200 for the target of 8250 -8300 with the stop loss of 8130.

   SECTORIAL INDICES   

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    CORPORATE NEWS      

• Lupin received the US Food & Drug Administration (USFDA) nod to market generic skin ointment - Desoximetasone Ointment USP. The product is the generic version of Taro Pharms North’s Topicort ointment in the same strength. According to September 2016 sales data, Topicort had US sales of $12.1 million.
• Dilip Buildcon secured road projects worth Rs. 917 Cr. Its subsidiary DBL Kalmath Zarap Highways received the order for rehabilitation and up-gradation of NH-66 to four-lane with paved shoulder in the state of Maharashtra under the NHDP-IV.
• Coal India reported a sharp 77% fall in its consolidated net profit to Rs. 600 Cr for Q2FY17 as against Rs. 2,654 Cr in the corresponding quarter last year, due to lower sales realization and higher provisioning on employee benefits. Net sales declined 7.7% to Rs. 15,645 Cr from Rs. 16,958 Cr in the corresponding quarter of previous year. Shares closed down 4.4%.

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