NIFTY UPDATE :- SHIELD RESEARCH

Stock cash Tips :- 

NIFTY FUTURE : R1:8416   R2:8446   R3:8492

PIVOT :8370      S1:8340       S2:8294   S3:8265

CHART INTERPRETATION:-  

Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once market closes below these levels. Market has consolidated for long time and now there are strong possibility of a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8330-8365-8405-8445 levels.

INDEX OUTLOOK :- 

NIFTY FUTURE: Equity benchmarks extended gains for second consecutive session Wednesday, with the Sensex closing at two-month high after stable earnings from banks (despite demonetisation) and China’s decision to cut steel production. Globally investors will closely watch US President-elect Donald Trump’s news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies. Sensex closed above 27000 level for the first time since November 10, 2016, up 240.85 points or 0.90 % at 27140.41. Nifty moved closer to 8400 level, up 92.05 points or 1.11 %at 8380.65. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold 8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold 8275-8230 as the supports.

STRATEGY: Buy Nifty Future above 8400 for the target of 8450 -8500 with the stop loss of 8330.

SECTORIAL INDICES :-  

CORPORATE NEWS :-       

South Indian Bank reported a 9.6% rise in Net Profit to Rs. 111.4 Cr in Q3 from Rs. 101.6 Cr in the corresponding quarter last year. Total Income rose by 5.1% to Rs. 1,479 Cr from Rs. 1407.7 Cr previously. Asset Quality was stable as Gross NPA stood at 3.98% in Q3, as compared to 3.96% in Q2. Net NPA stood 2.52%, as against 2.77% previously. Shares closed up 2.9%.

Welspun India announced that it will invest Rs. 4,000 Cr in 3 new projects in Gujarat. The company signed a MoU for the 3 projects during the Vibrant Gujarat Summit. Shares closed up 4.8%.

Suzlon Energy secured the order of a 226.8 MW wind power project from a leading independent power producer (IPP) in Anantapur district of Andhra Pradesh. The project is scheduled for completion by March, 2017. Shares closed up 3%.
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Nifty Update :- Shield Research

 Stock cash Tips :- 

NIFTY FUTURE :  R1:8308     R2:8322    R3:8347

PIVOT :8284           S1:8269      S2:8245    S3:8230

CHART INTERPRETATION:-   

 Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market

would enter into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once market closes below these levels. Market has consolidated for long time and now there are strong possibility of a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8330-8365-8405-8445 levels.

INDEX OUTLOOK :-   

NIFTY FUTURE: Nifty and Sensex closed 0.65% up at 8289 and 26900 levels respectively. Broader markets maintained out performance where midcap and small cap indices closed 0.8% and 0.7% higher. Market bias remained positive with 1662 advances and 1151 declines. BSE Metal and BSE Industrials were the top performers with the indices gaining by 1.42% and 1.57%.PSU Bank Index gained impressively even as all sectoral indices close in green indicating  broad-based rally in markets today BSE consumer durables and BSE Auto were the other sectoral index that gained more than 1% on Tuesday. Nifty traded near 8294 levels and closed just below the crucial level at 8289. Nifty has managed to close above its 200 days EMA at 8242. Going forward the immediate resistance at 8298-8300 levels remain intact which is also its 100 days EMA level. On the downside 8260 followed by 8228 will act as the immediate supports for now.

 STRATEGY: Buy Nifty Future above 8300 for the target of 8350 -8400 with the stop loss of 8230.

Sectorial Indices :- 

CORPORATE NEWS :-  

IndusInd Bank’s net profit for Q3 rose by 29.2 to Rs. 750.6 Cr Cr from Rs. 581 Cr in the corresponding quarter last fiscal. Net interest Income grew by 34.5% to 1578.4 Cr in Q3 on a YoY basis. Other income grew by 21.2% to Rs. 1,016.8 Cr and operating profit went up 28.5% to Rs 1,363.3 Cr in Q3. Asset quality dipped slightly, as Gross NPAs increased to 0.94%, up from 0.9%,sequentially. Net NPAs rose to 0.39% from 0.37% sequentially.

Engineers India secured a contract worth Rs. 2500 Cr from HPCL for execution of Vizag Refinery Modernization Project (VRMP). Shares closed up 2.7%.

 Share price of Ajanta Pharma gained 1.6% on the USFDA approval for Duloxetine hydrochloride delayed release capsules. The company will be launching the product in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules.

For further  information regarding the Nifty market update & many share market tips  Stock cash tips, Stock tips,Stock futures tips, Stock futures services, Equity tips just go through website http://shieldresearch.in/index.php/stock_cash_intraday  we will get in touch.