Nifty Market :- Shield Research

Stock Cash tips :-

NIFTY FUTURE :       R1:8230   R2:8263  R3:8299

PIVOT :8194              S1:8161     S2:8125  S3:8092

CHART INTERPRETATION :-

Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7800. Traders can go short on a break below 8000.On the other hand, a decisive break above 8200 will ease the downside pressure and take the index futures higher to 8300 and 8350 thereafter. MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum. This week, the indices tested the short term average of 22dma Nifty – 8242 but could not close above it. the indices continue to remain below the medium term average of 50dma Nifty – 8430 but above the long term average of 200dma Nifty –7600. Thus the trend in the short term and medium term timeframe remains bearish whereas the trend in the long term timeframe still continues to remain Bullish.

MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

INDEX OUTLOOK  :-  

NIFTY FUTURE:-

 The Indian markets opened flat on Tuesday with a negative bias, tracking SGX Nifty and global cues, and then were trading on a mixed note. At 10.34 am, the Sensex was trading at 26587.55, down by 7.90 points, while the Nifty was trading 4.40 points up at 8183.90. closed with a gain of 13 points at 8,192. It opened at 8,196, hit a intra day high of 8,219 and low of 8,149. Sentiments got some support after Union Finance Minister Arun Jaitley expressed hope that Goods and Services Tax (GST) will be implemented in 2017 and a digitised economy will be the future of India. However, gains were limited after a government report showed that Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas. Meanwhile, investors keeping an eye on the GST Council meeting, to arrive at a consensus on contentious issues, including dual administrative control and inter-state supply. The India VIX (Volatility) index was up 0.8% to 15.96. Out of 1,893 stocks traded on the NSE, 483 declined and 1,135 advanced today. The rupee was trading down by 8 paise at 68.30 per US dollar.

STRATEGY:-

Buy Nifty Future above 8200 for the target of 8250 -8300 with the stop loss of 8130.

CORPORATE NEWS :-    

Hero MotoCorp reported a 33.9% dip in its total sales in December 2016 at 3,30,202 units as against 4,99,665 units in the same month last year. The Company recorded its highest-ever sales in a calendar year in 2016 with a record 67,62,980 units of two-wheelers, up by 4.3% YoY. Shares closed down 1.3%.

Bajaj Hindusthan Sugar proposed sale of its co-generation power business to their group firm Lalitpur Power Generation Company Ltd (LPGCL) for about Rs 1,800 Cr.

Balrampur Chini and Dhanuka Agritech informed bourses that their respective boards have accepted their buyback proposals. Balrampur Chini will buy back shares worth up to Rs 175 Cr at a price not exceeding Rs 175 per share. Dhanuka Agritech fixed their buyback price at Rs. 850 to buy back shares worth Rs. 80 Cr.

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