SEBI approval to commodity options provides new opportunity to investors

STOCK FUTURES TIPS:-

stock future tips

SEBI approval to the introduction of options trading in commodities received a staggering response by market participants. The broadening of the market means a sea of vast opportunities for the participants.
 

• The decision is being long awaited, which has the potential to enhance liquidity in the commodity market and widen market penetration through a bigger purview of financial inclusion, hopes the market insiders.

• Analysts think that combo of options and futures can provide market participants leverage of futures over the safety of options.

• Like in stock markets, market participants can now hedge their position in the commodity markets too and can make higher potential returns.

• The market watchdog, SEBI, which took over regulation of the commodity market in September 2015, has been tightening trading, client, exchange-related regulations and broking. The regulator is also focusing on the integration of farmers and spot markets with it, reported a news portal.

• Meanwhile, the capital market regulator has to be watchful in regard to the agricultural commodity market and any instability or volatility caused by the agri-commodity market, which can hamper economy and government policy, believes market analysts.   

• Allowing or widening the commodity market would brighten the prospect of the commodity exchange too, assures market pundits.

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|stock futures tips|Equity Research Lab :- Nifty Report 28 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :            R1:9365                      R2:9388                           R3:9409
PIVOT : 9343              S1:9320                      S2:9299                            S3:9276

stock future tips

  CHART INTERPRETATION    

The Nifty took support precisely near the cluster of support placed around 9060-9070 region as it is the upper band of bullish gap area formed on March 14, 2017 post state election results (9060) and 80% retracement of the last rising segment placed around 9070. As highlighted in the earlier edition, the slower pace of current decline consuming 12 sessions and retracing about 80% of the preceding six session rise (9024 to 9273) highlights the corrective nature of the current down move upholding the overall positive price structure. Going forward, we expect the index to trade with a positive bias and a decisive close above 9310 will add fuel to the ongoing momentum and open further upsides towards 9450 over the short term as it is the value of the trend line joining 2016 yearly high and March 2017 peak of 9218

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open on the back of week global cues. Its important to sustain above 9310- 3335 to move upwards. Buy Nifty near 9330 for targets of 9360-9380, stop loss: 9300
Nifty Bank Future: The index continued to end at all-time high levels with decent rolls for the next series. Looking at the overall options data, the index is likely to trade in a broader range in coming days. A surge in IVs can also be seen. Buy Nifty Bank in the range of 22000-22050, targets: 22150-22250, stop loss: 21940

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Maruti Suzuki India Ltd posted a 15.8% yoy rise in net profit for Q4FY17, helped by increases in sales of premium models such as the Brezza SUV and Baleno hatchback. Net profit rose to Rs 1,709 crs from Rs 1,476 crs in the year-ago quarter. Total income from operations of Maruti rose 20.4% yoy to Rs 20,751 crs. The company sold a total of 4,14,439 passenger vehicles during the quarter, up about 15% from the year ago period.
• TVS Motor Co Ltd reported disappointing Q4FY17 results primarily on account of lower domestic motorcycle sales. Net profit came in at Rs 127 crs, while total income climbed 1.6% yoy to Rs 3,139 crs. Profit for the quarter was impacted by a one-time provision of Rs 57 crs towards discounts for BS III compliant vehicles sold by the dealers in March.
• Kotak Mahindra Bank Ltd reported a 40.3% yoy rise in quarterly net profit at Rs 976.4 crs on the back of higher net interest income and other income. Net interest income rose 16.3% to Rs 2,161.3 crs in the March quarter from Rs 1,857.2 crs last year. Gross non-performing assets (NPAs) increased sharply by 12.6% to Rs 3,578.6 crs at the end of the March quarter from Rs 3,177.8 crs in the December quarter.

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|stock futures tips|Equity Research Lab :- Nifty Report 27 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :            R1:9378                           R2:9405                             R3:9444
PIVOT : 9339             S1:9312                            S2:9273                             S3:9246

stock future tips

  CHART INTERPRETATION    

The Nifty took support precisely near the cluster of support placed around 9060-9070 region as it is the upper band of bullish gap area formed on March 14, 2017 post state election results (9060) and 80% retracement of the last rising segment placed around 9070. As highlighted in the earlier edition, the slower pace of current decline consuming 12 sessions and retracing about 80% of the preceding six session rise (9024 to 9273) highlights the corrective nature of the current down move upholding the overall positive price structure. Going forward, we expect the index to trade with a positive bias and a decisive close above 9310 will add fuel to the ongoing momentum and open further upsides towards 9450 over the short term as it is the value of the trend line joining 2016 yearly high and March 2017 peak of 9218

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open flat on the back of week global cues. Its important to sustain above 9310-3335 to move upwards. Buy Nifty near 9330 for targets of 9360-9380, stop loss: 9300 Nifty Bank Future: Long participation for the May series continued where the index ended well above 22200 and added near 6% in open interest. As the index moved higher, the Call OI concentration has shifted towards 22500 indicating more upside in the banking space. Buy Nifty Bank in the range of 21980-22020, targets: 22200-22400, stop loss: 21900

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Dilip Buildcon Ltd (DBL) bagged three road projects worth Rs. 3,269 Cr in Maharashtra from the National Highway Authority of India. DBL has incorporated three SPV (Special Purpose Vehicle) companies for the projects.
• PVR signed a deal with IMAX for additional 5 screens. IMAX is known for delivering better movie experience. The installation of the additional screens would cost approximately Rs. 55 Cr.
• Kolte Patil Developers signed its largest re-development project in Mumbai with 15,035 square meters plot area. The project is located in a strategic region in the vicinity of the highway and upcoming metro line.

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Markets this week: Nifty down 0.4%, Sensex down 0.7%, Nifty Media outperforms

STOCK FUTURES TIPS:-

stock future tips

The Nifty pared its morning gains and turned negative in afternoon trade, as bears tried to take control of D-Street from the bulls on Friday.
 

• The index did not close around its day’s low, which suggests buying interest at lower levels, the only positive takeaway from the trading session.
• Benchmark index Nifty50 was down 0.4%, while the 30-share Sensex index was down 0.7% through the week ended on Friday.
• If we take a look at the sectoral front, Nifty Bank was down 0.7%, Nifty Pharma was down 3.1%, Nifty Metal was down 2.6%, Nifty PSU Bank was down 2% and the Nifty FMCG was down 1.2%.
• Meanwhile, the Nifty Mid-cap index outperformed the major equity indices, and gained as much as 1.4% throughout the week ended on Friday. Other sectors such as Nifty Media gained 3.4% and Nifty Infra gained 1.2%.

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|stock futures tips|Equity Research Lab :- Nifty Report 21 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :             R1:9156                      R2:9169                       R3:9195
PIVOT : 9131              S1:9118                       S2:9092                        S3:9080

stock future tips

  CHART INTERPRETATION    

Nifty has given trendline breakout and showed downside movement from there. The major resistance placed around 9220. Only a decisive close above 9220 will signal acceleration of the current up move, going forward. Failure to do so, will lead to broader consolidation between 9000 and 9220 in the short term. The immediate support is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two weeks identical lows is placed at 9019 Rising 50-day SMA, which has acted as intermediate support in the entire up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative
divergence.

   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 9175 to move upwards. SELL Nifty near 9160-9170 for targets of 9120-9100, stop loss: 9220 Nifty Bank Future: Nifty Bank continued its negative bias in the last session as well and ended near 21491. We remain negative on the Nifty Bank till it trades below 21700. Participation of private sector heavyweights is likely to pull the index towards 21250-21000 in coming sessions. Sell Nifty Bank below 21400, targets: 21250- 21000, stop loss: 21610

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Reliance Industries Ltd has commissioned world’s largest and most complex ethane project, including commissioning of its ethane receipt & handling facilities and ethane cracking, at its Dahej facility in Gujarat in a world record time of less than three years. Reliance is the first company to globally conceptualise large-scale imports of ethane from North America as feedstock for its cracker portfolio in India.
• The National Company Law Tribunal (NCLT) has approved India Cements' merger with its subsidiaries Trinetra Cement and Trishul Concrete Products. This will help the company to re-align its focus on core business segment and ultimately re-rate the stock valuations in the medium-term.
• Crisil Ltd, in its first quarter results for CY17 reported a 12% YoY increase in top-line to Rs 402cr. Growth in topline was driven by the research segment. Net Profits were flattish at Rs 73cr, impacted by a forex loss of Rs 11.9 cr.

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Opening Bell - Markets open on positive note; Asian Paints top Nifty gainer

STOCK FUTURES TIPS:-

stock future tips

the BSE Sensex opened higher by 22 points at 29358, while the Nifty50 opened higher by 5 points at the 9108 mark.
 

• Asian Paints is the top Nifty gainer and Yes Bank is the top Nifty loser in the morning hours on Thursday. Asian Paints is trading higher by 1.13% at Rs 1060.8 per share whereas Yes Bank is trading lower by 3.18% at Rs 1554.4 per share.

• There are 951 advances, 417 declines and 428 unchanged stocks on NSE reflecting strong positive bias floating in the market.

• Nifty50 going forward has immediate support in the region of 9,060-9,070, and if this support level is breached, it is likely to open up for correction up to the level of 9,000, which could act as a major support for the Nifty50. On the upside, immediate resistance is placed around the level of 9,165, and if it holds above the level of 9,165, it is likely to test the level of 9,220.

• The rupee opened at 64.66 per US Dollar lower by 8 paise.

• The Dow Industrial and the S&P 500 ended lower on Wednesday. The Dow Jones Industrial Average fell 119 points to 20,404, with IBM being the biggest drag as the tech giant posted weaker than expected quarterly sales numbers. The S&P 500 lost 4 points and the Nasdaq Composite index gained 14 points to finish at 5,863.

• Asian markets are trading with a positive bias on Thursday. The Japan’s Nikkei 225 is trading higher by 68 points. Hong Kong’s Hang Seng has surged 84 points and China’s Shanghai Composite has gained 5 points.

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Opening Bell – Markets open flat with slightly negative bias; TCS top Nifty loser

STOCK FUTURES TIPS:-

stock future tips

the BSE Sensex opened higher by 50 points at 29369, while the Nifty50 opened higher by 7 points at the 9112 mark.
 

• Adani Ports is the top Nifty gainer and TCS is the top Nifty loser in the opening hour on Wednesday. Adani Ports is trading higher by 0.77% at Rs 321.8 per share whereas TCS is trading lower by 2% at Rs 2262.35 per share.

• There are 575 advances, 1119 declines and 75 unchanged stocks on NSE reflecting strong negative bias floating in the market.

• Nifty50 has immediate support placed around the level of 9,060, and if this support level is breached, it is likely to test the level of 9,000, which could act as a major support for the index. On the upside, immediate resistance is placed around the level of 9,165 and if it holds above the level of 9,165, it is likely to test the level of 9,220.

• Yes Bank and IndusInd Bank will report their earnings for the fourth quarter today. Metal stocks would also be in focus since metal prices are in declining trend owing to geopolitical tensions and China’s aluminium output cut.

• The rupee opened at Rs 64.60 higher by 3 paise.

• The US markets shut lower on Tuesday, pressurised after a number of key companies let down with their quarterly earnings. The Dow Jones Industrial Average shed 113 points. Among the largest drags of the day was Goldman Sachs Group, which fell 4.7% after its results fell short of analysts' forecast. Johnson & Johnson lost 3.1% as the company posted a drop in sales in the first quarter. The S&P 500 lost 7 points and the Nasdaq Composite Index slipped 7 points.

• Asian markets are trading negative on Wednesday. The Japan’s Nikkei 225 is trading with losses of 6 points. Hong Kong’s Hang Seng has fallen 144 points and China’s Shanghai Composite has shed 21 points.

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|stock futures tips|Equity Research Lab :- Nifty Report 18 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :      R1:9159                  R2:9179                          R3:9199
PIVOT : 9139       S1:9119                   S2:9100                          S3:9079

stock future tips

  CHART INTERPRETATION    

Nifty has taken support at trendline and showed upside movement from there. The major resistance placed around 9270. Only a decisive close above 9270 will signal acceleration of the current up move, going forward. Failure to do so, will lead to broader consolidation between 9000 and 9250 in the short. The immediate support is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two weeks identical lows is placed at 9019 Rising 20-day EMA, which has acted as intermediate support in the entire up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election
results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative divergence.

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open negative on the back of week global cues. Its important to sustain above 9120 to move upwards. SELL Nifty near 9180-9170for targets of 9140-9120, stop loss: 9220 Nifty Bank Future: Nifty Bank continued its positive bias in the last session as well and ended near the highs of the day. We remain positive on the Nifty Bank till it trades above 21500. Participation of private sector heavyweights is likely to pull the index towards 22000 in coming sessions. Buy Nifty Bank in the range of 21600-21650, targets: 21750-21850, stop loss: 21500

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Indiabulls Real Estate is looking to re-organise its existing business via demerger. As per the restructuring exercise, the company will be segregating the commercial and leasing business which could be run through SPVs . It will either look for a strategic partner or demerge the commercial leasing business. The residential business after the exercise will have a debt of Rs 4,440 cr.
• Punj Lloyd announced that its subsidiary was awarded an EPC contract - Clean Fuels Interfacing Facilities Project in Yanbu, Saudi Arabia worth Rs 312 cr by the Yanbu Aramco Sinopec Refining Company (YASREF) in Saudi Arabia.
• In the Pharma space, Dr. Reddy’s Laboratories announced that the US FDA completed the audit of its API plant at Srikakulam in Andhra Pradesh with no observations. On the other hand, Sun Pharma's Dadra unit has received 11 observations from the US health regulator after an audit.

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|stock futures tips|Equity Research Lab :- Nifty Report 17 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :                    R1:9187                           R2:9223                        R3:9245
PIVOT : 9166                      S1:9129                           S2:9108                        S3:9071

stock future tips

  CHART INTERPRETATION    

Nifty has taken support at trendline and showed upside movement from there. The major resistance placed around 9270. Only a decisive close above 9270 will signal acceleration of the current up move, going forward. Failure to do so, will lead to broader consolidation between 9000 and 9250 in the short. The immediate support is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two weeks identical lows is placed at 9019 Rising 20-day EMA, which has acted as intermediate support in the entire up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative divergence.

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open negative on the back of week global cues. Its important to sustain above 9150 to move upwards. SELL Nifty near 9180-9170for targets of 9140-9120, stop loss: 9220 Nifty Bank Future: Post the policy, the market participants dint take the policy on cheerful note and saw some fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the Put side have shifted towards 21500 and 21200 strike. Current Put build-up is at 21500 suggesting index may see extended profit booking if it is unable to move above 21500. Sell Nifty Bank in the range of 21500-21550, targets: 21300-21200, stop loss: 21620

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Infosys reported consolidated Net profit at Rs. 3,603 cr, degrowth of 2.8% from Rs. 3,708 cr in the previous quarter. Revenue declined 0.9% to Rs. 17,120 cr on QoQ basis. Infosys missed on dollar revenue guidance as it expects its FY18 constant currency dollar revenue growth at 6.5-8.5%, which was lower than the street expectations of 7-9%. The Company’s current policy is to pay dividends of up to 50% of post-tax profits of the financial year. Effective from FY2018, the company expects to payout up to 70% of the free cash flow of the corresponding financial year.
• Premier Explosives received the Management System Certificate from DNV GL Business Assurance, USA. This certificate is valid for Development, Manufacture and Supply of High Energy Materials (Propellants, Pyrotechnics, Special Devices and other Chemicals) for Aerospace and Defense Applications.
• Bajaj Corp’s total income for Q4FY17 declined 2% to Rs. 204.5 cr compared to Rs. 208.8 cr in the same quarter last year led by volume decline of 6.9%. Net profit stood at Rs. 52.7 cr against Rs. 54.3 cr on YoY basis. Higher advertising cost, other expenses and employee cost impacted the company’s operational margins, which came at 32.4% compared to 36.2% on YoY basis.

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Supreme Court verdict only an option value setback

STOCK FUTURES TIPS:-

stock future tips

• A 6-year-long battle has finally come to an end — albeit not in favour of Tata Power. The Supreme Court has decided against giving a compensatory tariff hike to Tata Power on its 4,000 MW Mundra UMPP plant. The final order, with details, is still awaited. Our TP of `100 factored no upside from a potential hike. We believe upside remains from development on mine sales, renewable energy scale-up, refinancing and B/S improvement.

• No change in Indian law cited: We were hopeful of a favourable court verdict, at least in-line with CERC’s suggested hike. Media reports said the Supreme Court stated that higher fuel prices due to change in Indonesian laws is not a valid reason for a hike and only changes in Indian laws should be considered. We did not factor a favourable decision into our estimates. The verdict only removes the option value we hoped would fructify — `4/sh to target price for every 5p hike.

• Mundra — cost and higher unit sale the focus: The Supreme Court’s order is awaited, including details on whether an appeal is possible. We believe management will focus more aggressively on containing costs at Mundra and increasing unit sales since the potential tariff hike seems to be behind us. Mundra UMPP has been operating at the needed base availability of 85% as per the PPA on a sustainable basis. Our understanding is that the SEBs have the right of first refusal on surplus power generated. Tata Power could add 4-5% to consolidated profits for every 5% higher availability. Also, every 1% reduced coal cost will improve consolidated profit by 2%. We remain positive on Tata Power as we believe the next 12 months will see the stock re-rate on improved financials.

• Valuation/Risks: We value Power at `67/share, Coal mines at `30/sh and others at 5x EV/Ebitda FY18e. Maintain Buy with target price of `100. Downside risks are (i) availability issues at regulated assets; (ii) and a sharp fall in coal prices.

• Company description: Tata Power is India’s largest integrated power company. The company has an installed generation capacity of 5,297 MW. It is also developing the country’s first Ultra Mega Power Project (UMPP) at Mundra in Gujarat.

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Five mid-cap stocks creating a buzz in the markets

STOCK FUTURES TIPS:-

stock future tips

• Infrastructure stocks have recently had big incoming amount of ordering scenarios and are once again gaining traction. If we compare with the year ago period, the low base effect is helping them register a better order growth in the current year. While we speak about the infra stocks, some big names generally come to the mind of the investors such as L&T, BHEL and ABB Infra.

• While, Jain Irrigation, Greaves Cotton, Carborundum Universal (CUMI), Sintex Industries and VA Tech Wabag are some of the mid-cap stocks which investors can keep an eye on, given the niche segments they cater to. 

•  These companies have effectively been able to recover from the pressure of demonetisation, despite being the most vulnerable as the clients were sensitive to such unforeseen events, and are expecting a huge improvement in FY18 in terms of ordering activities and profitability,Carborundum Universal is an abrasive manufacturer with fully integrated operations and could benefit from recovery in economic growth and infra spending.

• Greaves Cotton is among the largest manufacturers of single-cylinder (diesel and gasoline engines) and dual-cylinder engines, which are used in auto rickshaws and small commercial vehicles.

• Jain Irrigation is India’s largest micro irrigation company and has held its market leadership in this segment for the past six years. Jain Irrigation also operates in segments such as piping systems, agro processing and plastic sheets.

• Sintex Industries, is a market leader in plastic prefab and storage tanks with a 40% market share, Sintex makes a wide range of plastic products. Its custom-moulding segment provides 44% of its revenues.

• VA Tech Wabag is focused on specialised projects such as cleaning of river beds and setting of up desalination and sewerage treatment plants, and the company believes that the next leg of domestic growth will be propelled by these projects.

Company Name	LTP (March 13, 2017)	Year-to-date change (%)
Carborundum Universal	294.65	19.1
Greaves Cotton	162.60	33.2
Jain Irrigation	99.80	13.3
Sintex Industries	111.65	48.9
VA Tech Wabag	658.55	40.4

 
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|stock futures tips|Equity Research Lab :- Nifty Report 13 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :             R1:9245                   R2:9288                      R3:9330
PIVOT : 9203               S1:9161                   S2:9119                       S3:9076

stock future tips

  CHART INTERPRETATION    

Nifty has taken support at trendline and showed upside movement from there. The major resistance placed around 9270. Only a decisive close above 9270 will signal acceleration of the current up move, going forward. Failure to do so, will lead to broader consolidation between 9000 and 9250 in the short. The immediate support is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two weeks identical lows is placed at 9019 Rising 20-day EMA, which has acted as intermediate support in the entire up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election
results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative divergence.

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open positive on the back of positive global cues. Its important to sustain above 9180 to move upwards. Buy nifty near 9180-9170for targets of 9200-9225, stop loss: 9155 Nifty Bank Future: Post the policy, the market participants dint take the policy on cheerful note and saw some fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the Put side have shifted towards 21500 and 21200 strike. Current Put build-up is at 21500 suggesting index may see extended profit booking if it is unable to move above 21500. Sell Nifty Bank in the range of 21500-21550, targets: 21300-21200, stop loss: 21620

   SECTORIAL INDICES   

    CORPORATE NEWS      

• Shilpa Medicare received an Establishment Inspection Report (EIR) for its manufacturing facilities located at Raichur in Karnataka from the US health regulator. The company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines in response to the form 483 issued at the end of inspection. The USFDA has reviewed the CAPA and has found them acceptable.
• Ramky Infrastructure has bagged two projects for construction of residential apartment and a commercial complex worth Rs. 546.5 cr from Kanpur Development Authority in Kanpur, Uttar Pradesh.
• From May 01, petrol and diesel prices will change every day in sync with international rates. Companies namely; HPCL, BPCL and IOC will launch a pilot for daily price revision in five select cities from May 01 and gradually extend it to all over the country.

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Solar power tariff plunges to Rs 3.15/unit in AP solar park; creates history

STOCK FUTURES TIPS:-

stock future tips

• During the bidding for the 250-megawatt (Mw) ultra mega solar power park in Kadapa, Andhra Pradesh, the solar power tariff touched an all time low of Rs 3.15 a unit.  NTPC has set a standard tariff for 25 years with no escalation for the winning bid at the Kadapa solar park.

• The market observers believe that this is lower than the lowest bid received for the 750 Mw solar park in Rewa, Madhya Pradesh. The annual cost escalations in a project that are factored into the final tariff are also included in the levelised tariff. In Tuesday’s auction, the French clean energy company Solairedirect emerged as the lowest bidder for the 250 Mw solar power station.

• There are several other bidders in the fray, which include, Azure Power, Greenko Energy and Ostro Energy. The power offtake and payments made the bidding prices dip to such a level, assured an expert.

• The oversupply of the solar panels from China is dragging the prices of the solar panels in the domestic market and impacting the net profit of the companies working in this segment, said an industry insider while interacting with a leading news agency.

 

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|stock futures tips|Equity Research Lab :- Nifty Report 12 april 2017

STOCK FUTURES TIPS:-
      
NIFTY SPOT :               R1:9262                          R2:9287                      R3:9332
PIVOT : 9217                 S1:9192                          S2:9147                      S3:9122

stock future tips

  CHART INTERPRETATION    

Nifty has taken support at trendline and showed upside movement from there. The major resistance placed around 9270. Only a decisive close above 9270 will signal acceleration of the current up move, going forward. Failure to do so, will lead to broader consolidation between 9000 and 9250 in the short. The immediate support is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two weeks identical lows is placed at 9019 Rising 20-day EMA, which has acted as intermediate support in the entire up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election
results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative divergence.

   INDEX OUTLOOK     

Nifty Future: The Nifty is likely to open positive on the back of positive global cues. Its important to sustain above 9180 to move upwards. Buy nifty near 9180-9170for targets of 9200-9225, stop loss: 9155 Nifty Bank Future: Post the policy, the market participants dint take the policy on cheerful note and saw some fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the Put side have shifted towards 21500 and 21200 strike. Current Put build-up is at 21500 suggesting index may see extended profit booking if it is unable to move above 21500. Sell Nifty Bank in the range of 21500-21550, targets: 21300-21200, stop loss: 21620

   SECTORIAL INDICES   

    CORPORATE NEWS      

• The Supreme Court of India disapproved compensatory tariff to Tata Power Ltd. and Adani Power Ltd. The SC set aside the earlier tribunal ruling that allowed companies to charge compensatory tariff from consumers.
  Shares of the companies closed down 1.8% and 16% respectively.
• Indian Hume Pipe secured a work order of Rs. 109.6 Cr from the Public Health Engineering Department, NCR Region, Alwar, for execution of the work of reorganization of Urban Water Supply Scheme at Alwar and Bhiwadi towns.
• Suzlon Energy won an order of 50.4 MW wind power project from a leading Independent Power Producing (IPP) company. The order is for 24 units of Suzlon’s new hybrid wind turbine generator, each with a rated capacity of 2.1 MW. The project is located at Karnataka and will be completed by June 2017.

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