Stock Cash Tips :-
NIFTY FUTURE : R1:8298 R2:8336 R3:8402
PIVOT :8232 S1:8194 S2:8128 S3:8089
CHART INTERPRETATION :-
Traders can go short on a 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 :-
STRATEGY:- Buy Nifty Future above 8270 for the target of 8320 -8370 with the stop loss of 8200.
SECTORIAL INDICES :-
Corporate News :-
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NIFTY FUTURE : R1:8298 R2:8336 R3:8402
PIVOT :8232 S1:8194 S2:8128 S3:8089
CHART INTERPRETATION :-
Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7750.
Traders can go short on a 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.
NIFTY FUTURE: The key benchmark extended their gains in the late afternoon session and was hovering near the highest point of the day on continued buying by domestic institutional investors amid higher opening among European counterparts. Sentiments remained upbeat on expectations of positive GDP data to be released later in the day. Further, Oil markets edged up ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014. Nifty closed 82.35 points higher at 8,224.50. The India VIX index was down 4.84% at 16.8500. The BSE Midcap closed at 12498.62 and Smallcap indices closed at 12329.65, both indices ending up by 1%. The rupee was trading at 68.48 per US dollar. On the global front, most Asian indices closed in green and marginally up. where all indices were trading in green while, the US Nasdaq was also up 0.21%.
STRATEGY:- Buy Nifty Future above 8270 for the target of 8320 -8370 with the stop loss of 8200.
SECTORIAL INDICES :-
Corporate News :-
- Vivimed Labs closed higher by 7% after the company stated that the US health regulator has completed the inspection of its manufacturing facility in Alathur. The company’s ‘Finished Dosage Form’ manufacturing facility has had a favorable outcome post its US Food and Drug Administration (USFDA) inspection.
- Lupin Ltd stated that it has received approval from the US health regulator to market its Armodafinil tablets, indicated to improve wakefulness, in the US market.
- Idea Cellular Ltd fell 2% to Rs77.3 after the company said in a notice to BSE that the media reports that the company looking to sell 20% stake is just a speculation.
For further information of indian share market Nifty reports opening bell,closing bell,equity tips,commodity tips, stock cash tips many more go through website http://shieldresearch.in
