Stock Cash Tips :-
Nifty Future R1: 8637 R2:8682 R3: 8713
Pivot: 8607 S1: 8562 S2:8531 S3:8486
CHART INTERPRETATION :-
Nifty Future R1: 8637 R2:8682 R3: 8713
Pivot: 8607 S1: 8562 S2:8531 S3:8486
CHART INTERPRETATION :-
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.
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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| Shield Research Indore |
INDEX OUTLOOK :-
NIFTY FUTURE:-
The Nifty opened and traded flat to negative, while the Sensex opened and tarded flat to positive on mixed global cues. The BSE Sensex opened 26.03 points up at 28,121.37, while NSE Nifty index opened 1.90 points down at 8,633.75.
The INDIA VIX is up 1.03% at 15.8800. The BSE Mid-cap Index is trading up 0.46% at 12,457, whereas BSE Small-cap Index is trading up 0.37% at 12,279.
STRATIGY :-
Buy Nifty Future above 8600 for the tgt of 8650 -8700 with the sl of 8530.
CORPORATE NEWS :-
Dr. Reddy’s Labs reported a 75% drop in its net profit. Net profit fell from Rs 626 Cr to Rs 153 Cr for the current quarter. Revenue income declined by 14.2% to Rs 3,222 Cr on account of loss of business in Venezuela, and a drop in the volume sales in USA. Shares of the company fell by 4.6%.
TVS Motors reported a 21% rise (YoY) in PAT from Rs 100.08 Cr to Rs 121.25 Cr for Q1FY 2017. Revenue sales grew by 12% whereas sales volume grew by 11%. Exports grew by 15.3% to 7 lakh units from 6.1 lakh units.
Maruti Suzuki reported a 23% rise in net profit for the first quarter to Rs 1.486 Cr from Rs 1,208 Cr. Net sales grew by 12.1% in monetary terms and 2.1% growth was seen in volume terms.
Lower material costs and improved operational income contributed to the profit increment.
For Nifty support & Resistance go through website http://shieldresearch.in/#trial_form
NIFTY FUTURE:-
The Nifty opened and traded flat to negative, while the Sensex opened and tarded flat to positive on mixed global cues. The BSE Sensex opened 26.03 points up at 28,121.37, while NSE Nifty index opened 1.90 points down at 8,633.75.
The INDIA VIX is up 1.03% at 15.8800. The BSE Mid-cap Index is trading up 0.46% at 12,457, whereas BSE Small-cap Index is trading up 0.37% at 12,279.
STRATIGY :-
Buy Nifty Future above 8600 for the tgt of 8650 -8700 with the sl of 8530.
CORPORATE NEWS :-
Dr. Reddy’s Labs reported a 75% drop in its net profit. Net profit fell from Rs 626 Cr to Rs 153 Cr for the current quarter. Revenue income declined by 14.2% to Rs 3,222 Cr on account of loss of business in Venezuela, and a drop in the volume sales in USA. Shares of the company fell by 4.6%.
TVS Motors reported a 21% rise (YoY) in PAT from Rs 100.08 Cr to Rs 121.25 Cr for Q1FY 2017. Revenue sales grew by 12% whereas sales volume grew by 11%. Exports grew by 15.3% to 7 lakh units from 6.1 lakh units.
Maruti Suzuki reported a 23% rise in net profit for the first quarter to Rs 1.486 Cr from Rs 1,208 Cr. Net sales grew by 12.1% in monetary terms and 2.1% growth was seen in volume terms.
Lower material costs and improved operational income contributed to the profit increment.
For Nifty support & Resistance go through website http://shieldresearch.in/#trial_form
