Stock Cash Tips :-
NIFTY FUTURE :R1:8186 R2:8222 R3:8276
PIVOT :8132 S1:8096 S2:8042 S3:8006
CHART INTERPRETATION :- Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7750. Traders can go short ona break below 8000.On the other hand, a decisive break above 8280 will ease the downside pressure and take the index futures higher to 8450 and 8550 thereafter.Indian Stock Market is still in negative zone but market would see a bounce at lower levels near support. Nifty is laying near its major support level of 7900. 7900 is a make or break level on closing basis. If Nifty closes below those levels then a breakdown would be seen in the market and we can even see levels of 7900-7700-7700 in days to come. If Nifty holds 7900 for next couple of days then we would see a sharp positive rally. MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.
INDEX OUTLOOK :-
NIFTY FUTURE :- Equity benchmarks closed flat with a positive bias after consolidation on Monday but the broader markets outperformed on further value buying. Banks under performed after CRR hike announcement by RBI while ITC helped the market close in the green. Sensex was up 33.83 points at 26350.17 and Nifty gained 12.60 points at 8126.90 while the BSE Midcap index jumped 1 percent and Small cap rose 0.66 % on positive breadth. Proprietary sentiment indicator has still not hit the buy zone so there may be some downside in the near term and thus, the recovery from the recent damage to share prices may not b V-shaped.
Sentiments got some support with ,India'sGDP growth trend to be higher than China's in the medium term despite demonetization.Some support also came after the RBI Governor Urjit Patel said that all necessary actions are being taken to 'ease the genuine pain of citizens' who are honest and who have been hurt.The India VIX (Volatility) index was up 2.51% at 18.0550. The rupee was trading lower 22 paise at 68.67 per US dollar.STRATEGY : Buy Nifty Future above 8150 for the target of 8200- 8250 with the stop loss of 8070.
SECTORAL INDICES :-
Corporate News :- Cipla’s UK arm sold the entire 16.7% stake it had held in US -based clinical-stage biopharmaceutical company, Chase Pharma, to a subsidiary of Allergan. Cipla closed higher by 1.3%.Shares of Uflexended higher by 8.5% after strong Q2FY17 numbers. The company reported 17% rise in consolidated net profit to Rs 90 cr. Net sales rose 1.6% to Rs 1501.9 cr.Oil India posted a net profit of Rs 580cr for the quarter ended Sept 30, 2016 as compared to Rs 706 cr for the quarter ended September 30, 2015. Total income decreased from Rs 2,961 cr for the quarter ended September 30, 2015 to Rs 2,721 crore for the quarter ended September 30, 2016. The shares price ended lower by 2%.
For further information regarding the Stock cash tips, Stock tips,Stock futures tips, Stock futures services, Equity tips call @ 8602483228 or fill form http://shieldresearch.in/#trial_form
