NIFTY FUTURE REPORT

NIFTY FUTURE TIPS | NIFTY FUTURE REPORT:-

NIFTY FUTURE :       R1:8801                                R2:8834                              R3:8864
PIVOT :8758                S1:8725                               S2:8682                                S3:8649

NIFTY DAILY CHART

CHART INTERPRETATION:-
 MACD and Price ROC are both positive and continue in Buy mode. RSI (70) still suggests bullish

momentum. Stochastic Oscillator %K (96) is above %D, indicating a Buy. But both RSI and Stochastic Oscillator are overbought. ADX is at 36 which suggest that the Uptrend is very strong. This week, the indices tested the short term average of 22dma Nifty – 8473 close above it. the indices continue to remain above the medium term average of 55dma Nifty – 8268 but above the long term average of 200dma Nifty –8356. Thus the trend in the short term, medium term and even the long term timeframe continues to remain upwards. The support for the Nifty is 8602-8572-8535-8469 and the resistance to the up move is at 8818-8833-8923-8968 levels.

 INDEX OUTLOOK

NIFTY FUTURE: The Nifty remained choppy before the RBI monetary policy. However, a Vshaped movement was seen after the event. The index finally ended flat. Nifty futures settled at a premium of 27 points. India VIX fell 1.1% to 13.3. The highest Put base is at the 8500 strike with 63 lakh shares while the highest Call base is at the 9000 strike with 63 lakh shares. The 8800 and 9000 Call strikes saw additions of 1.1 and 0.97 lakh shares, respectively, while 8500 and 8700 Put strikes saw additions of 5.5 and 4.3 lakh shares, respectively Amidst all, we're bullish on markets and suggest maintaining buy on dips approach in stocks. The banking index regained the highs post monetary policy announcement and ended near the day’s high. With weekly settlement today, volatility is expected in today’s session. With significant concentration at the 20500 Call strike, the Nifty Bank is likely to settle below these levels only today. However, declines towards 20200 should be a buying opportunity. Buy Nifty Bank in the range of 20180-20220, targets: 20400-20500, stop loss: 20100

STRATEGY: Buy Nifty Future above 8800 for the target of 8850 -8900 with the stop loss of 8760.

SECTORAL INDICES

CORPORATE NEWS

Bharat Forge reported a 21.5% drop in Net Profit to Rs. 128.6 Cr in Q3, against Rs. 163.8 Cr in the
corresponding quarter last year. Revenue declined by 10.7% to Rs. 990 Cr as against Rs. 1,108.5 Cr in the corresponding quarter last fiscal. Shares closed down 1.2%.
NTPC reported a 7.5% drop in Net Profit to Rs. 2,468.7 Cr in Q3 against Rs. 2,668.7 Cr in the corresponding quarter last year. Total Income from Operations increased by 10.9% to Rs. 19,395.9 Cr against Rs. 17,485.7 Cr
in the corresponding period last fiscal. Margins were impacted due to higher fuel costs in the quarter.
Tata Chemicals reported a 31.7% rise in Net Profit to Rs. 318.4 Cr against Rs. 241.8 Cr in the corresponding quarter last year. Total Income from Operations dropped to Rs. 3,494.8 Cr in Q3 against Rs. 3,991.3 Cr in the corresponding period last fiscal. Shares closed up 2.9%.

ERL RESEARCH TEAM

Member Name Designation E-mail ID
Mr. Tuhinanshu Jain    Research Head               Tuhinanshu.jain@equityresearchlab.co.in
Mr. Yogesh Subnani   Sr. Research Analyst      Yogesh.subnani@equityresearchlab.co.in
Miss. Meenakshi Pal  Sr. Research Analyst       Meenakshi.pal@equityresearchlab.co.in

DISCLAIMER

The information and views in this report, our website & all the service we provide are believed to be
reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have
the right to choose the product/s that suits them the most. Investment in Stocks has its own risks.
Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it & takes no responsibility whatsoever for any financial profit s or loss which may arise from the recommendations above. The stock price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice.
Equity Research Lab does not purport to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Equity Research Lab might be holding positions in the
stocks recommended. It is understood that anyone who is browsing through the site has done so at his
free will and does not read any views expressed as a recommendation for which either the site or its
owners or anyone can be held responsible for. Any surfing and reading of the information is the
acceptance of this disclaimer.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our
calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly
or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of the information is the acceptance of this disclaimer.
ALL RIGHTS RESERVED.