NIFTY SPOT : R1:9131 R2:9154 R3:9175
PIVOT : 9110 S1:9087 S2:9066 S3:9042
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| stock future tips |
The major support for the nifty index is placed at 8980&8970 region as it is supported by following studies: The high of previous two weeks consolidation is at 8980,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 shortterm stochastic is rebounding after approaching close to the oversold threshold and supports continuance of pullback efforts in the coming sessions.
INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to positive on the back of positive global cues. Its important to sustain above 9100 to move upwards. Buy Nifty above 9130 for targets of 9170-9200, stop loss: 8990
Nifty Bank Future: Bank Nifty was able to witness some higher above 21100 ahead of the March expiry. Bank nifty needs to sustain above 21100 for further up move. Major support for market is placed near 20750, below which lower levels of 20500 can be seen. Buy Nifty Bank in the range above 21175, targets: 21300, stop loss: 20920.
Nifty Future: The Nifty is likely to open flat to positive on the back of positive global cues. Its important to sustain above 9100 to move upwards. Buy Nifty above 9130 for targets of 9170-9200, stop loss: 8990
Nifty Bank Future: Bank Nifty was able to witness some higher above 21100 ahead of the March expiry. Bank nifty needs to sustain above 21100 for further up move. Major support for market is placed near 20750, below which lower levels of 20500 can be seen. Buy Nifty Bank in the range above 21175, targets: 21300, stop loss: 20920.
SECTORIAL INDICES
CORPORATE NEWS
- PNC Infratech emerged as the lowest bidder for NHAI's two highway projects worth Rs 4,130 cr in Utter Pradesh and Madhya Pradesh. The company has been declared the lowest bidder for the two hybrid annuity highway projects of NHAI for an aggregate bid project cost of Rs 2,720 cr. Also, the other project pertains to four-laning of 75 km Jhansi-Khajuraho section of NH 75/76 under NHDP III for Rs 1,410 cr.
- Majesco has been selected by New Jersey-based insurance company for its multi-year modernisation program. As a part of agreement, the insurer will leverage Majesco's enterprise consulting services and the business transformation framework, application development & management services and the technical reference architecture, and testing services with the automation test framework and testing repository for underwriting and policy platform.
- Plastic products manufacturer Sintex Industries received an approval from NCLT for demerger of custom moulding and prefab businesses. Upon demerger, shareholders of Sintex Industries will get one equity share from Sintex Plastics Technology for one share held in company. New equity shares to be issued by Sinted Plastics Technology post demerger, will be listed on exchanges.
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