NIFTY SPOT : R1:9062 R2:9094 R3:9116
PIVOT :9040 S1:9008 S2:8987 S3:8955
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| stock future tips |
The immediate support for the index upwards to 8970 region as it is the confluence of following: The upper band of previous two weeks consolidation is at 8970,Rising 20-day EMA, which has acted as intermediate support in the entire up move since December 2016 lows, is placed at 8941. As per the change of polarity, yearly high of 2016 is at 8968 is likely to reverse its role and act as support, going forward.
Among oscillators, the short-term 14 period RSI is also negative poised.
INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to negative on the back of week global cues. Its important to sustain above 9010 to move upwards. Buy Nifty near 9000 for targets of 9050, stop loss: 8950
Nifty Bank Future: The index continued to fall on wenesday as well. It broke important support of 20875 which is also supported buy trendline.. With 11 out of 12 Bank Nifty components ending negative, profit booking may continue at higher levels. Hence, in the short-term one can look at going short at higher levels. Sell Nifty Bank in the range of 20850-20900, targets: 20450-20150, stop loss: 20900
Nifty Future: The Nifty is likely to open flat to negative on the back of week global cues. Its important to sustain above 9010 to move upwards. Buy Nifty near 9000 for targets of 9050, stop loss: 8950
Nifty Bank Future: The index continued to fall on wenesday as well. It broke important support of 20875 which is also supported buy trendline.. With 11 out of 12 Bank Nifty components ending negative, profit booking may continue at higher levels. Hence, in the short-term one can look at going short at higher levels. Sell Nifty Bank in the range of 20850-20900, targets: 20450-20150, stop loss: 20900
SECTORIAL INDICES
CORPORATE NEWS
- Wockhardt Ltd traded higher as the company announced that it has received USFDA’s nod for piperacillin and tazobactam.
- Puravankara jumped over 3% after the company informed that its board has passed an enabling resolution to exit Rs 403 cr investment in Raidurg, Panamaktha Village. The exit would involve the sale of its entire shareholding in the company’s three wholly owned subsidiaries.
- State-run Housing and Urban Development Corp. Ltd (Hudco) has received SEBI approval to raise funds through an initial share sale as part of the government’s disinvestment drive. The initial public offer will comprise sale of 20 cr equity shares (10% stake) by the central government through an offer for sale (OFS) route, as per the DRHP.
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