Stock Cash Tips :-
Nifty Future R1: 8603 R2:8621 R3: 8652
Pivot: 8572 S1: 8553 S2:8523 S3:8504
CHART INTERPRETATION :-
Nifty Future R1: 8603 R2:8621 R3: 8652
Pivot: 8572 S1: 8553 S2:8523 S3:8504
CHART INTERPRETATION :-
Indian Stock Market is still in positive zone. Overall Market has seen a breakout and we would see sharp positive movements in days to come. Next target is 8650-8700 for Nifty.
If upcoming results support then this positive movement would continue till 8700 levels for Nifty .
The only strategy for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. and Expectations of a good monsoon have once again reinforced the confidence among market participants that the growth may come back on a good note, timely onset of the monsoons will be a positive for the markets.
A strong break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index futures higher to 8650 and 8700 thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
If upcoming results support then this positive movement would continue till 8700 levels for Nifty .
The only strategy for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. and Expectations of a good monsoon have once again reinforced the confidence among market participants that the growth may come back on a good note, timely onset of the monsoons will be a positive for the markets.
A strong break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index futures higher to 8650 and 8700 thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
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INDEX OUTLOOK :-
NIFTY FUTURE:-
The Indian stock markets opened a tad higher despite mixed global cues and disappointing quarterly results from Wipro. The Indian stock market has rallied for the second consecutive session on Wednesday. Finally, the Sensex ended with a gain of 128 points at 27,916. Sensex opened at 27,776 touched an intra-day high of 27,935 and low of 27,760. Nifty closed with a gain of 37 points at 8,566.The Nifty opened at 8,515 hitting a high of 8,570 and low of 8,512.55. The India VIX (Volatility) index was up 1.23% at 15.9900.
STRATIGY :-
The Indian stock markets opened a tad higher despite mixed global cues and disappointing quarterly results from Wipro. The Indian stock market has rallied for the second consecutive session on Wednesday. Finally, the Sensex ended with a gain of 128 points at 27,916. Sensex opened at 27,776 touched an intra-day high of 27,935 and low of 27,760. Nifty closed with a gain of 37 points at 8,566.The Nifty opened at 8,515 hitting a high of 8,570 and low of 8,512.55. The India VIX (Volatility) index was up 1.23% at 15.9900.
STRATIGY :-
Buy Nifty Future above 8580 for the tgt of 8630 -8680 with the sl of 8500.
CORPORATE NEWS :-
Auto Ancillary Company – JBM Auto’s shares went up by 19.1% after the company announced a Joint Venture (JV) with Polish company Solaris Bus and Coach. The new venture will focus on development and manufacture of electric and hybrid buses. Both companies will invest a sum of Rs 300Cr in the venture.
Lakshmi Vilas Bank reported a 50.6% rise in net profit to Rs 60.7Cr for Q1FY17. Net Interest Income expanded by 22.2% to Rs 177.5Cr from Rs 145.2Cr in the corresponding quarter last fiscal. Though, the asset quality deteriorated sequentially as the gross NPA rose by 17 bps to 2.14% and Net NPAs by 12 bps to 1.3%.
Shares of Aurobindo, Glenmark and Sun Pharmaceuticals went up by 1.9-4.9% after the USFDA (Food & Drug Administration) gave the approval to Rosuvastatin calcium tablets. The drug is equivalent to Crestor tablets of IPR Pharmaceuticals, which are used to reduce cholesterol and fats and have an estimated market size of $ 6.7 billion.
For further details of Nifty Spot & share market tips or calls like Equity tips,Stock cash tips,Nifty tips,Commodity tips many more just go through website
CORPORATE NEWS :-
Auto Ancillary Company – JBM Auto’s shares went up by 19.1% after the company announced a Joint Venture (JV) with Polish company Solaris Bus and Coach. The new venture will focus on development and manufacture of electric and hybrid buses. Both companies will invest a sum of Rs 300Cr in the venture.
Lakshmi Vilas Bank reported a 50.6% rise in net profit to Rs 60.7Cr for Q1FY17. Net Interest Income expanded by 22.2% to Rs 177.5Cr from Rs 145.2Cr in the corresponding quarter last fiscal. Though, the asset quality deteriorated sequentially as the gross NPA rose by 17 bps to 2.14% and Net NPAs by 12 bps to 1.3%.
Shares of Aurobindo, Glenmark and Sun Pharmaceuticals went up by 1.9-4.9% after the USFDA (Food & Drug Administration) gave the approval to Rosuvastatin calcium tablets. The drug is equivalent to Crestor tablets of IPR Pharmaceuticals, which are used to reduce cholesterol and fats and have an estimated market size of $ 6.7 billion.
For further details of Nifty Spot & share market tips or calls like Equity tips,Stock cash tips,Nifty tips,Commodity tips many more just go through website
