NIFTY FUTURE TIPS | NIFTY TIPS | STOCK TIPS

NIFTY FUTURE: 7798.80 (-2.52%)

Post a gap down opening, the index remained under pressure throughout the day. With stocks witnessing more pain, the Nifty ended 185 points lower. Nifty futures premium settled at 13 points. India VIX rose 16.8% and ended at 28.7

Nifty Future	R1: 7914	R2: 8028	R3: 8224
Pivot: 7832	S1: 7718	S2: 7636	S3: 7440

 

CHART INTERPRETATION:

Nifty may face strong support at channel trendline placed 7730 below which more downside can be seen.

Mechanical indicator RSI heading towards 30 marks while MACD is also negative poised.

INDEX OUTLOOK:

NIFTY FUTURE TIPS: The Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 7730-7830.

INTRADAY STOCKTIPS STRATIGY: Buy Nifty in the range of 7750-7760 for targets of 7790-7810, stop loss: 7730

SECTORIAL INDICES:

Key Indices – Levels to watch out for the day
INDEX (Spot)	RESISTANCE 2	RESISTANCE 1	LTP	SUPPORT 1	SUPPORT 2
SENSEX	26150	25920	25696.44	25560	25320
NIFTY	7940	7865	7785.85	7740	7660
BANKNIFTY	16965	16700	16530.30	16300	16150
CNX-IT	11700	11580	11476.45	11360	11240

 

CORPORATE NEWS:

M&M’s total automobile sales rose 1% to 35,634 units in August 2015 over August 2014. Total domestic sales fell 3% to 32,122 units in August 2015 over August 2014.

Maruti Suzuki India reported 6.4% growth in total sales to 1.17 lakh units in August 2015 over August 2014. Its domestic sales rose 8.6% to 1.06 lakh units in August 2015 over August 2014.

Sun Pharmaceutical Industries has successfully completed the acquisition of opiates business in Australia from GSK.

Inox Wind has secured an order for a 100 megawatts wind power project from Ostro Energy in Madhya Pradesh. 

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