|stock futures tips|Equity Research Lab :- Nifty Report 05 JANUARY 2017

STOCK FUTURES TIPS:-

NIFTY FUTURE :            R1:8222                      R2:8241                          R3:8258
PIVOT :8204                   S1:8186                       S2:8168                          S3:8150

stock cash 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: Benchmark indices ended Wednesday's session on a flat note after consolidation as investors awaited December quarter earnings that will begin next week with Infosys. No consensus on dual control in GST council meet, weak Services PMI data after demonetisation and lack of global cues also caused volatility in the market. Nifty failed to hold 8200 level for third consecutive session, down 1.75 points at 8190.50. Sensex declined 10.11 points to 26633.13 after a 117-point swing. The BSE Smallcap index outperformed benchmarks, up 0.5 % as about 1624 shares advanced against 1163 declining shares on the exchange. Overall Advance to decline ratio for NSE came in at 3:2 . On the sectoral front Realty and IT outperformed with 2.2% and 1.3% gains. Banks and Financial services dragged the markets down with nearly 0.8% losses on an average.

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

   SECTORIAL INDICES   

    CORPORATE NEWS      

• HCL Technologies announced the completion of the acquisition of Butler America Aerospace LLC, an aerospace & defense engineering service provider to US aerospace and defense customers. The consideration for this acquisition was $85 million payable in cash. Shares closed up 2.9%.
• Jubilant Life Sciences’ wholly own subsidiary Jubilant Pharma, signed long term contracts with distribution networks in the US for supply of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans which are to be supplied over a period of 39 months effective from January 2017. Shares closed up 11.6%.
• Ramco Systems announced that it signed a multi-million dollar cloud HR and payroll transformation deal with the Panasonic Group in Malaysia. The deal aims to digitize and transform operations for nearly 20,000 employees nationwide on a unified platform. Shares closed up 9.4%.

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