NIFTY SPOT : R1:9287 R2:9310 R3:9346
PIVOT : 9251 S1:9229 S2:9193 S3:9170
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| stock future tips |
The major resistance placed around 9250. Only a decisive close above 9250 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 flat to positive on the back of mixed global cues. Its important to sustain above 9250 to move upwards. Buy Nifty 9250 for targets of 9280-3110, stop loss: 9220 Nifty Bank Future: On the back of fresh long additions, the index managed to end well above the sizeable Call base of 21700. As RBI’s monetary policy is lined up TODAY, we may see some trigger in volatility and a broader move in the index. However, 21200 is likely to act as a strong support. Sell Nifty Bank in the range of 21660- 21700, targets: 21500, stop loss: 21800
Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. Its important to sustain above 9250 to move upwards. Buy Nifty 9250 for targets of 9280-3110, stop loss: 9220 Nifty Bank Future: On the back of fresh long additions, the index managed to end well above the sizeable Call base of 21700. As RBI’s monetary policy is lined up TODAY, we may see some trigger in volatility and a broader move in the index. However, 21200 is likely to act as a strong support. Sell Nifty Bank in the range of 21660- 21700, targets: 21500, stop loss: 21800
SECTORIAL INDICES
CORPORATE NEWS
- KEC International announced that it secured orders worth Rs. 1,781 Cr. The transmission and distribution division of the company secured international orders worth Rs. 1,270 Cr and domestic orders worth Rs. 432 Cr. The cable and solar division secured various orders for projects worth Rs. 79 Cr. Stock closed up 4.5%.
- GOCL Corporation closed up 8.1% after its subsidiary, Houghton International, entered into a definitive agreement to combine with Quaker Chemicals. The 2 companies operate in the space of process fluids and chemical specialties.
- Idea Cellular gained 2% as the RBI granted license to Aditya Birla Idea Payments Bank Ltd. - a joint venture between two Aditya Birla Group companies—Aditya Birla Nuvo (51%) and Idea Cellular Ltd. (49%), to set up a payments bank.
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