NIFTY SPOT : R1:9236.50 R2:9274.70 R3:9337.10
PIVOT : 9249 S1:9174.10 S2:9149.90 S3:9087.50
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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 positive global cues. Its important to sustain above 9180 to move upwards. Sell below 9225 for targets of 9200-9175, stop loss: 9250 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
Nifty Future: The Nifty is likely to open flat to positive on the back of positive global cues. Its important to sustain above 9180 to move upwards. Sell below 9225 for targets of 9200-9175, stop loss: 9250 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
- Ashoka Buildcon received a Letter of Award (LoA) from Mumbai International Airport Limited for developing land parcels located near the Mumbai International Airport for commercial office spaces.
- Sun Pharmaceuticals fell 3% after the US Food and Drug Administration conducted a surprise inspection at its Dadra Plant, which is the second largest USFDA approved plant after Halol.
- Cadila Healthcare announced that its Topical manufacturing facility at Ahmedabad successfully completed US drug regulator's (US FDA) inspection. Stock closed up 1.5%.
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