|stock futures tips|Equity Research Lab :- Nifty Report 02 February 2017

STOCK FUTURES TIPS:-

NIFTY FUTURE :   R1:8805                       R2:8872                               R3:8997
PIVOT :8680          S1:8612                        S2:8487                               S3:8420

stock cash 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 8380 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 8350 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 8630-8610- 8580-8550 whereas strong resistance would be seen at 8680-8700-8730 levels.

   INDEX OUTLOOK     

NIFTY FUTURE: The market has ended on a higher note after Finance Minister Arun Jaitley presented Union Budget 2017. The Sensex ended up 471.67 points or 1.7 percent at 28127.63, and the Nifty was up 152.95 points or 1.8 percent at 8714.25. About 1923 shares have advanced, 890 shares declined, and 130 shares are unchanged. Maruti, SBI, ICICI Bank, M&M and ITC were gainers while TCS, Infosys, Sun Pharma, ONGC and NTPC were losers in the Sensex. It was for the first time after Union Budget 2005 that the Indian benchmark indices have surged more than 1.7% on the day of budget. Going forward we hold 8737-8745 as the immediate resistances followed by 8810 as the crucial resistance. On the downside if Nifty retreats due to profit booking we hold 8670-8600 as the supports for the Nifty.

STRATEGY: Buy Nifty Future above 8750 for the target of 8800 -8850 with the stop loss of 8680.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Eicher Motors reported a 50% increase in Net Profit to Rs. 418.2 Cr in Q3, against Rs. 278.7 Cr in the corresponding quarter last fiscal. Total Revenue increased by 42.6% to Rs. 2,071.4 Cr against Rs. 1,452.1 Cr. The numbers were aided by strong volume uptick despite demonetization, where Royal Enfield volumes went up by 38% YoY in the quarter. However, Commercial Vehicle Sales dropped 7% YoY. Shares closed up 4.7%.
• Maruti Suzuki reported a 27.1% increase in sales volume to 1,44,396 units for the month of January against 1,13,606 units in the corresponding month last year. Domestic sales grew by 25.9% to 1,33,934 units led by strong demand for Baleno and Brezza. Exports increased by 45% to 10,462 units. Shares closed up 5.1%..
• Apollo Tyres reported a 15.6% rise in Consolidated Total Income to Rs. 3,703.7 Cr in Q3 against Rs. 3,203.3 Cr in the corresponding quarter last year. Net Profits were up by 6% to Rs. 295.7 Cr against Rs. 279 Cr in the corresponding quarter last year. Margins were impacted significantly because of increase in material costs.

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