|stock futures tips|Equity Research Lab :- Nifty Report 21 December

STOCK FUTURES TIPS:-

NIFTY FUTURE :    R1:8132               R2:8164                R3:8194
PIVOT :8102           S1:8069                S2:8039                S3:8007

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: The market slipped for the fifth consecutive session Tuesday with the Nifty closing below 8100-mark, weighed by banking & financials stocks. The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices falling 1.4% and 0.9%, respectively. Sensex dropped 66.72 points to 26307.98 and Nifty slipped 21.95 points to 8082.40 amid lower trading volumes. The market breadth weakened further in last hour of trade; more than two shares declined for every share rising on the Bombay Stock Exchange. Overall the market has been rangebound, though it fell further in today's trade. The broad range for the Nifty could be 7900-8300 in short term. Most Asian indices ended down as shares in the emerging markets declined after the Bank of Japan kept its key policy rates unchanged. The Indian rupee was down as foreign banks buy dollars, likely for FPI's outflow from domestic markets.

STRATEGY: Buy Nifty Future above 8100 for the target of 8150 -8200 with the stop loss of 8030.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Granules India shares fell after the United States Food & Drug Administration (USFDA) completed the inspection of their Vizag plant with seven observations. The facility produces API and is a 50:50 JV of Granules and Ajinimoto OmniChem NV. Shares closed down 4.6%.
• IL&FS’ wholly owned subsidiary GRICL Rail Bridge Development, secured orders for building 8 railway overbridges under PPP mode by the Gujarat – R&B department for an estimated cost of Rs. 250 Cr.
• Wockhardt’s shares surged after the UK health regulator confirmed that the manufacturing facility at Chikalthana, Maharashtra complied with good manufacturing practices (GMP).

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