|stock futures tips|Equity Research Lab :- Nifty Report 09 JANUARY 2017

STOCK FUTURES TIPS:-

NIFTY FUTURE :       R1:8312                      R2:8357                         R3:8385
PIVOT :8284               S1:8239                      S2:8211                         S3:8166

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 8330-8365-8405-8445 levels.

MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

   INDEX OUTLOOK     
NIFTY FUTURE: The Nifty opened the week at 8215, made a high of 8329, low of 8151 and closed the week at 8268. Thus it closed the week with a gain of 81 points. The nifty ended down 30 points or 0.36 per cent at 8,243.8, after hitting its highest since November 11 earlier in the day. And ended 0.71 per cent higher for the week, its second such gain. The Indian shares fluctuated between gains and losses before ending the session lower on last hour of accelerated selling. The market gained to a near two-month high, ahead of the announcement of GDP data. week, the indices tested the short term average of 22dma Nifty – 8320 but could not close above it. the indices continue to remain below the medium term average of 55dma Nifty – 8250 but above the long term average of 200dma Nifty – 7600. Thus the trend in the short term and medium term timeframe remains bullish whereas the trend in the long term timeframe still continues to remain bullish.
STRATEGY: Buy Nifty Future above 8300 for the target of 8350 -8400 with the stop loss of 8230.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Wockhardt stated that German regulator has issued European Union Good Manufacturing Practice certificate to the company’s Ankaleshwar facility in Gujarat. The shares of the company closed at Rs 710.9, up 5.6%
• Piramal Enterprises rose 2.4%, as Piramal Finance, a subsidiary of Piramal Enterprises, said it plans to foray into housing finance business. In line with the company's growth plans, Piramal Finance will now make an application to the National Housing Bank for incorporating a housing finance company. This was approved by the company's board on January 5.
• Natco Pharma jumped 4.7% to Rs 625.6 after the company said it has received final nod from US drug regulator for generic version of Bendamustine Hydrochloride powder.

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