nifty future report

NIFTY FUTURE TIPS | NIFTY REPORT:-

NIFTY FUTURE :  R1:8851.75                         R2:8889.10              R3:8932
PIVOT :8808.60     S1:8771.25                          S2:8728                   S3:8690

NIFTY DAILY CHART

CHART INTERPRETATION:-

We believe the current breather to work out the overbought conditions will attract demand at the earmarked support zone of 8650 as it is the confluence of following:61.8% retracement of the up move post Union Budget(8537 to 8814) is placed at 8650 region ¾ Previous weeks congestion area is  placed near 8670 region ¾ Lower 􀄏a􀅶d of the short ter􀅵 risi􀅶g 􀄐ha􀅶􀅶el e􀅶􀄐o􀅵passi􀅶g 􀄐urre􀅶t up 􀅵o􀇀e is also pla􀄐ed arou􀅶d 8􀏲􀏱􀏬 regio􀅶 • A􀅵o􀅶g
oscillators, the short-term stochastic has seen a rebound after cooling off to neutral level of 62 post the recent consolidation on price front. The oscillator working off the overbought conditions will create room for further upsides going forward Thus the trend in the short term, medium term and even the long term timeframe continues to remain upwards.

INDEX OUTLOOK:-

NIFTY FUTURE: After a positive opening, tracking firm global cues, the Nifty failed to sustain above previous 􀇁eek’s high 􀍾88􀏮􀏮􀍿 a􀅶d surre􀅶dered all the gai􀅶s 􀅵id-way through the session before posing complete ecovery towards second half to settle in green. Sectorally, IT and private banking stocks traded firm while profit booking in PSU banks, consumer durables and Real estate stocks weighed. Equity benchmarks eked out marginal gains for fourth consecutive session amid choppy consolidation on Monday while stock specific action remained in focus ahead of the CPI data print expected on Monday evening The Sensex settled at 28351 up just 17 points while the Nifty shut shop at 880􀏱 up 􀏭􀏭 poi􀅶ts or 􀏬.􀏭􀏯%  Broader markets underperformed led by profit booking in recently run up stocks as the mid cap and small cap indices ended down by 0.37% and 0.57% respectively. The overall market breath was negative, as a result, with an A/D ratio of 1:1.6 on the BSE

STRATEGY:Sell Nifty Future below 8820 for the target of 8760 -8720 with the stop loss of 8760.

SECTORAL INDICES

CORPORATE NEWS:-
Motherson Sumi reported a 28.2% rise in Net Profit to Rs. 547.3 Cr in Q3, against Rs. 426.8 Cr in the corresponding quarter last year. Total Income increased by 12.5% to Rs. 10,796.9 Cr in Q3 against Rs. 9,598.4 Cr in the corresponding quarter last fiscal. 
Hindalco reported a Net Profit of Rs. 320.6 Cr in Q3 against a loss of Rs. 32.8 Cr in the corresponding quarter last year. Total Income from Operations increased by 13.8% to Rs. 9,914.8 Cr in Q3, against Rs. 8,715.9 Cr in the corresponding quarter last year. Profits were driven by higher average realizations in copper and aluminum. Shares closed up 1.6%.
Britannia reported a 6.1% increase in Total Income to Rs. 2,355.3 Cr in Q3, against Rs. 2,219.6 Cr in the corresponding quarter last fiscal. Net Profit increased by 4.6% to Rs. 220.4 Cr in Q3, against Rs. 210.7 Cr in the corresponding quarter last year. Shares closed up 1%.

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