NIFTY FUTURE : R1:8453 R2:8490 R3:8520
PIVOT :8421 S1:8384 S2:8352 S3:8316
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| stock future tips |
CHART INTERPRETATION
Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once market closes below these levels. Market has consolidated for long time and now there are strong possibility of a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8445-8465levels.
INDEX OUTLOOK
NIFTY FUTURE: Equity benchmarks closed lower after extending for 3rd consecutive session.Globally investors will closely watch US President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies. Nifty moved closer to 8461 level but closed in red down at 8417. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold 8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold 8275-8230 as the supports.
NIFTY FUTURE: Equity benchmarks closed lower after extending for 3rd consecutive session.Globally investors will closely watch US President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies. Nifty moved closer to 8461 level but closed in red down at 8417. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold 8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold 8275-8230 as the supports.
STRATEGY: Sell Nifty Future above 8400 for the target of 8360 with the stop loss of 8461.
SECTORIAL INDICES
- Infosys reported a 7% increase in net profit to Rs. 3,708 Cr in Q3FY17, against Rs. 3,465 Cr in the corresponding quarter last year. Revenue rose by 8.6% to Rs. 17,273 Cr, against Rs. 15,902 Cr previously. The company added 77 new clients in Q3FY17, taking the total number of customers to 1,152. They also tweaked their annual guidance to 8.2-8.8% from 8-9% previously.
- Spicejet announced a deal for the purchase of 205 aircrafts from Boeing. The original order of 55 aircrafts was enhanced to 100 additional aircrafts and 50 further purchase rights. The 205 aircraft deal is valued at Rs. 150,000 Cr. Shares closed up 2.5%.
- Gruh Finance reported a 19.2% increase in net profits in Q3FY17 at Rs. 64 Cr, against Rs. 53.7 Cr in the corresponding quarter last year. The company reported a 17.8% increase in total income to Rs. 381 Cr, against Rs. 323.6 Cr previously. The aggregate NPAs of the company improved to 0.54% in Q3FY17 from 0.62% in Q3FY16.
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