|stock futures tips|Equity Research Lab :- Nifty Report 03 march 2017

STOCK FUTURES TIPS:-

NIFTY FUTURE :    R1:8987                R2:9063                             R3:9107
PIVOT :8943            S1:8867                S2:8822                             S3:8747

stock future tips

  CHART INTERPRETATION   

RSI (75) suggests overbought situation on index. Nifty break 52week high but didn’t manage to close above that. Nifty find a stiff resistance near 8970 and have closing at 8956. This week, the indices tested the short term average of 6EMA Nifty – 8800 close above it and 14EMA Nifty- 8745.The indices continue to remain above the medium term average of 28WMA Nifty – 8710. Thus the trend in the short term, medium term and even the long term timeframe continues to remain upwards. A significant close above 8970 may open the gates for new highs.

   INDEX OUTLOOK     

NIFTY FUTURE: The immediate support threshold for the index downside is 8880-8860region. 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: Buy Nifty Future near 8860-8880 for the target of 8920-8960 with the stop loss of 8940

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Hero Moto Corp reported sales of 5,24,766 units of two-wheelers in February 2017 as compared to 5,50,992 units in the corresponding month last year, registering a decline in sales by 4.8%.
• Tata Motors reported a 1.9% rise in Sales led by a 12% increase in passenger vehicles segment and a 1% drop in commercial vehicles segment. Domestic Passenger Vehicles sales stood at 12,272 units in the month, led by strong demand in Tiago. Commercial Vehicle sales fell to 30,407 units in the month.
• Bajaj Auto reported a marginal increase in total sales to 2,73,513 units in February 2017 from 2,72,719 units in the corresponding month last fiscal. Total motorcycle sales during the month rose 4.1% to 2,44,958 units from 2,35,282 units on the back of strong exports. Commercial Vehicle sales were down by 23.7% to 28,555 units. Exports were up 15.6% to 1,14,404 units.

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