Nifty update_Aug'17

                                                                                                                                                                   17^TH August, 2015

       NIFTY SPOT: 8518.55 (+1.95%)           

               

           After remaining choppy for a couple of days, the Nifty saw a sharp bounce and ended with a gain of 165 points
            on the last day of the week. Banking led the rally followed by supported up moves from sectors like auto, infra,
            metals and capital goods. Nifty future premium settled at 24 points. India VIX fell 5.9% and ended at 16.0

Daily Nifty Levels (FUT)	R1: 8397.00	R2: 8458.10	R3: 8486.75
Pivot: 8368.35	S1: 8307.25	S2: 8278.60	S3: 8217.50

Nifty has immediate resistance at trendline placed at 8600 mark .
Nifty is trading above  200-day and 100-day SMA which is positive indication.

Mechanical indicator RSI  trading above 50 mark while  MACD is still negative poised. 

                                                               

NIFTYFUTURE TIPS The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 8450-85
INTRADAY STOCK TIPS STRATIGY: Buy Nifty in the range of 8480-8490 for targets of 8520-8550, stop loss: 8450

 

Key Indices – Levels to watch out for the day
INDEX (Spot)	RESISTANCE 2	RESISTANCE 1	LTP	SUPPORT 1	SUPPORT 2
SENSEX	28320	28200	28067.31	27890	27775
NIFTY	8600	8560	8518.55	8460	8420
BANKNIFTY	19030	18870	18723.60	18570	17380
CNX-IT	12300	12150	12048.45	11900	11770

       

·    BPCL net profit rose 95.37% to Rs 2376.16 crore on 22.88% decline in total income to Rs 52296.12 crore in
Q1 June 2015 over Q1 June 2014.

·    Steel Authority of India reported a net loss of Rs 321.64 crore in Q1 June 2015 as against net profit of Rs 529.88
crore in Q1 June 2014.

·    Hindalco Industries' net profit fell 67.37% to Rs 107 crore on 7.24% growth in revenue from operations to Rs 8575
 crore in Q1 June 2015 over Q1 June 2014.