NIFTY SPOT : R1:9192 R2:9212 R3:9232
PIVOT : 9172 S1:9153 S2:9132 S3:9113
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| stock future tips |
The major support for the nifty index is placed at 9000-9020 region as it is supported by following studies: The high of previous weeks consolidation is at 9000, market took support at 9020, which has acted as intermediate support in the entire up move since mid march lows,.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 to negative on the back of mixed global cues. Its important to sustain above 9220 to move upwards. Sell Nifty near 9200 for targets of 9170-9140, stop loss: 9225 Nifty Bank Future: Axis Bank, HDFC Bank and Yes Bank remained under pressure for the second half of the day. However, PSU banks along with other private sector banks continued to shine, aiding the index to end almost flat. However, looking at the options OI data, the index has decent support near 21300. Buy Nifty Bank in the range of 21250-21300, targets: 21400-21500, stop loss: 21190
Nifty Future: The Nifty is likely to open flat to negative on the back of mixed global cues. Its important to sustain above 9220 to move upwards. Sell Nifty near 9200 for targets of 9170-9140, stop loss: 9225 Nifty Bank Future: Axis Bank, HDFC Bank and Yes Bank remained under pressure for the second half of the day. However, PSU banks along with other private sector banks continued to shine, aiding the index to end almost flat. However, looking at the options OI data, the index has decent support near 21300. Buy Nifty Bank in the range of 21250-21300, targets: 21400-21500, stop loss: 21190
SECTORIAL INDICES
CORPORATE NEWS
- J. Kumar Infraprojects received show cause notices for three projects awarded by the Municipal Corporation of Greater Mumbai, due to irregularities in the execution of contracts. The company has also been blacklisted for seven years from entering into any contract with the MCGM. Stock closed down by 7.2%.
- Engineering Company JMC Projects secured projects worth Rs. 1,058 Cr. These projects include a residential building project in Thane worth Rs. 531 Cr as well as two commercial building projects in Bangalore worth Rs. 527 Cr. JMC is a subsidiary of Kalpataru Power Transmission Ltd. and provides services including civil, structural and MEP for all major industries and project types.
- Glenmark Pharmaceuticals received tentative approval from the US health regulator - USFDA for Milnacipran Hydrochloride tablets. The tablets are the generic version of Savella drug, which has annual sales of ~USD 154.4 mn, as per IMS Health data.
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