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

STOCK FUTURES TIPS:-

NIFTY FUTURE :             R1:8990                 R2:9030                                R3:9050
PIVOT :8927                     S1:8900                 S2:8860                                S3:8820

stock future tips

NIFTY FUTURE: We have now revised the immediate support threshold for the index upwards to 8710-8650 region. We believe the current breather to work out the overbought conditions will attract demand at the earmarked support zone of 8650 as it is the confluence of following: ¾ 61.8% retracement of the up move post Union Budget (8537 to 8814) is placed at 8650 region ¾ Previous weeks congestion area is placed near 8670 region¾ Lower band of the short term rising channel encompassing current up move is also placed around 8650 region.

STRATEGY: Sell Nifty Future below 8940-8950 for the target of 8900-8860 with the stop loss of 8990.

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Maruti Suzuki reported a 10.9% rise in Total Sales to 1,30,280 units for February 2017 as compared to 1,17,451 units in February 2016. Demand was led by Mid-size PV, Utility Vehicles and Vans segment. Exports sales grew by only 2.2% on a YoY basis, whereas Domestic sales were up 11.7% YoY.
• Eicher Motors reported a total of 58,439 unit sales of Royal Enfield 2 Wheelers in February 2017, against 49,156 units sold in February 2016, a growth of 19%. It missed expectations due to lower sales of models with engine capacity more than 350cc that fell 29% to 3,868 units YoY.
• The Steel Ministry directed SAIL to evaluate taking over of Monnet Ispat. So far, JSW Steel has emerged as the sole bidder for controlling stake in the company through the strategic debt-restructuring route. Stock of Monnet Ispat closed up 7.3%.

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