|stock futures tips|Equity Research Lab :- Nifty Report 24 JANUARY 2017

STOCK FUTURES TIPS:-

NIFTY FUTURE :                    R1:8432                     R2:8469                 R3:8520
PIVOT :8348                           S1:8351                      S2:8300                 S3:8266

nifty daily chart

  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     

STRATEGY: Sell Nifty Future near 8441 for the target of 8400 with the stop loss of 8481.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Hindustan Unilever reported a 6.9% increase in Net Profits to Rs. 1,037.9 Cr in Q3FY17 against Rs. 971.7 Cr in the corresponding quarter last year. It had an exceptional profit on sale of surplus properties of Rs. 159 Cr and restructuring expenses of Rs. 6 Cr. Total Income fell 0.8% on YoY basis to Rs. 8,317.9 Cr against Rs. 8,384.7 Cr. EBITDA margin contracted by 70 basis points largely due to rising input costs.
• JSW Energy reported a 26.7% drop in Consolidated Net Profit to Rs. 1,904.3 Cr as compared to Rs. 2,599 Cr YoY. Operating Profit stood at Rs. 657 Cr, down by 42.7%. Net Profit went down 93.1% to Rs. 21.4 Cr, against Rs. 309.3 Cr YoY on lower generation and lower tariff. Total plant load factor for the quarter stood at 56%, which was much lower compared with 71% in same quarter last year, impacted by lower PLF at Ratnagiri and Vijayanagar plants.
• Kalpataru Power Transmission received orders worth Rs. 825 Cr. The order consists of transmission line and sub-station projects worth Rs. 440 Cr in Africa and CIS (Commonwealth of Independent States) region. There were two other pipeline projects from IOCL and GAIL worth about Rs. 277 Cr and a railway project from CORE worth about Rs. 111 Cr. Shares closed up 2.2%.

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