NIFTY SPOT : R1:9192 R2:9211 R3:9239
PIVOT : 9164 S1:9145 S2:9117 S3:9098
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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 14 period RSI is rebounding after taking support at its bull market support zone of 50-55 readings and supports
continuance of pullback efforts in the coming sessions.
INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Its important to sustain above 9175 to move upwards. Sell Nifty near 9175 for targets of 9130-9100, stop loss: 9210 Nifty Bank Future: As the rollover cost was low, the April series witnessed long rollover with decent activity in options. As the index has managed to end above 21500, the ongoing trend is likely to continue. Buy Nifty Bank in the range of 21400-21440, targets: 21550-21650, stop loss: 21340
Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Its important to sustain above 9175 to move upwards. Sell Nifty near 9175 for targets of 9130-9100, stop loss: 9210 Nifty Bank Future: As the rollover cost was low, the April series witnessed long rollover with decent activity in options. As the index has managed to end above 21500, the ongoing trend is likely to continue. Buy Nifty Bank in the range of 21400-21440, targets: 21550-21650, stop loss: 21340
SECTORIAL INDICES
CORPORATE NEWS
- Share price of Thermax ended higher by 6.6% as the company, through its step-down subsidiary in Denmark, has agreed to acquire 100% stake of Barite Investments. As per the agreement with Weiss Sp in Poland, Thermax will acquire production activities related to boiler manufacturing & certain other assets.
- Dilip Buildcon closed up 3.4% after the company received a letter of award from the National Highways Authority of India for three projects in the state of Maharashtra. The three projects are valued at Rs. 3,269cr.
- Alkem Laboratories closed up 1.5% after the company received an establishment inspection report from the US health regulator on closure of its inspection at the company’s API facility at Ankaleshwar in Gujarat.
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