Stock Cash Tips :-
NIFTY FUTURE : R1:8639 R2:8667 R3:8704
PIVOT :8602 S1:8574 S2:8537 S3:8509
CHART INTERPRETATION :-
STRATEGY :-
Sell Nifty Future Below 8600 for the target of 8550 -8500 with the stop loss of 8670.
CORPORATE NEWS :-
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NIFTY FUTURE : R1:8639 R2:8667 R3:8704
PIVOT :8602 S1:8574 S2:8537 S3:8509
CHART INTERPRETATION :-
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 8750 and8900thereafter. Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK :-
NIFTY FUTURE:-
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 8750 and8900thereafter. Mechanical indicator stochastic RSI also showing consolidated trend.
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NIFTY FUTURE:-
Nifty ended in green on Thursday on account of buying in frontline blue chip counters.
Sensex closed 84.72 points up , while Nifty settled 16.85 points up . Midcap index ended 0.03% up, while Smallcap index ended 0.02% lower.
Escorts shares soared as much as 19.99 % after the company announced the divestment of its OEM and export business of Auto Product division to Badve Engineering Ltd in an all cash deal as a part of the planned strategic reorientation of the business to focus on core verticals in the agri-machinery, construction equipment and railway equipment.
Escorts auto products business caters to OEMs and replacement market globally for all vehicle including commercial vehicles, and multi-utility vehicles.
Sensex closed 84.72 points up , while Nifty settled 16.85 points up . Midcap index ended 0.03% up, while Smallcap index ended 0.02% lower.
Escorts shares soared as much as 19.99 % after the company announced the divestment of its OEM and export business of Auto Product division to Badve Engineering Ltd in an all cash deal as a part of the planned strategic reorientation of the business to focus on core verticals in the agri-machinery, construction equipment and railway equipment.
Escorts auto products business caters to OEMs and replacement market globally for all vehicle including commercial vehicles, and multi-utility vehicles.
SECTORAL INDICES :-
Sell Nifty Future Below 8600 for the target of 8550 -8500 with the stop loss of 8670.
CORPORATE NEWS :-
Bank of Baroda reported a 60% yoy drop in Net profit to Rs. 423.6 Cr in Q1 as compared to Rs. 1,052.1 Cr in the same period last fiscal. Gross NPAs grew to 11.15% from 9.99% and Net NPAs increased to 5.73% from 5.06% sequentially. Provisions for NPAs increased significantly to Rs. 2004 from 599.7 Cr.
Gujarat Pipavav Port Limited (GPPL) reported a 60% upside in Net profit to Rs. 59.7 Cr for Q1 as compared to Rs. 37.2 Cr for the same period last fiscal. Total Income from operations declined to Rs. 167.2 Cr from Rs. 184.6 Cr. Expenses during the quarter dropped to Rs. 92 Cr from Rs. 110 Cr previously.
Tyre-maker MRF reported lukewarm numbers as Total Income for the quarter stayed flat at Rs. 3,481.9 Cr from Rs 3477.1 Cr previously. Net profit was up by merely 2.2% to Rs. 490.9 Cr from Rs. 479.5 Cr previously.
Gujarat Pipavav Port Limited (GPPL) reported a 60% upside in Net profit to Rs. 59.7 Cr for Q1 as compared to Rs. 37.2 Cr for the same period last fiscal. Total Income from operations declined to Rs. 167.2 Cr from Rs. 184.6 Cr. Expenses during the quarter dropped to Rs. 92 Cr from Rs. 110 Cr previously.
Tyre-maker MRF reported lukewarm numbers as Total Income for the quarter stayed flat at Rs. 3,481.9 Cr from Rs 3477.1 Cr previously. Net profit was up by merely 2.2% to Rs. 490.9 Cr from Rs. 479.5 Cr previously.
For further information of support & resistance go through website & fill form http://shieldresearch.in/#trial_form
