NIFTY FUTURE : R1:9148 R2:9193 R3:9274
PIVOT :9113 S1:9068 S2:9032 S3:8952
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| stock future tips |
We have now revised the immediate support threshold for the index upwards to 8860 region as it is the confluence of following: The base of previous two week’s sideways consolidation is placed at 8860.Lower boundary of the short term rising channel in place since February 2017 is also placed around 8900 region. Among oscillators, the 14 period RSI is at the cusp of breaking out above the upper band of its narrow consolidation band of 55 to 75 readings. A resolute move above 75 will infuse further upward momentum going forward
INDEX OUTLOOK
NIFTY FUTURE The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9140- 9150 for targets of 9090-9070, stop loss: 9170 Nifty Bank Future: Highest intraday additions in terms of open interest were seen in the index for the March series. It managed to end at all-time high levels. A sharp appreciation of the rupee against the US$ is likely to provide more steam to banking stocks. We feel the midcap banking space is likely to outperform heavyweights.
NIFTY FUTURE The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9140- 9150 for targets of 9090-9070, stop loss: 9170 Nifty Bank Future: Highest intraday additions in terms of open interest were seen in the index for the March series. It managed to end at all-time high levels. A sharp appreciation of the rupee against the US$ is likely to provide more steam to banking stocks. We feel the midcap banking space is likely to outperform heavyweights.
STRATEGY: Buy Nifty Bank in the range of 21000-21040, targets: 21150-21250, stop loss: 20930.
SECTORIAL INDICES
CORPORATE NEWS
- Sun Pharma was informed by the USFDA, that it will lift the Import Alert imposed on the Mohali (Punjab) manufacturing facility and remove the facility from the Official Action Initiated (OAI) status. This proposed action will clear the path for Sun Pharma to supply approved products from the Mohali facility to the US market, subject to normal US FDA regulatory requirements.
- NBCC won an order worth Rs. 250 cr from the Mauritius government to build new Supreme Court building. The company has been appointed as the project management consultant.
- Pennar Industries one of India’s leading industrial organizations offering specialized, engineering steel solutions have announced major receipt of orders worth Rs. 202 cr across its business units from variousplayers including JSW Steel, Tata Power, GE Power and Thermax.
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