NIFTY TIPS: 7800.85 (-1.21%)
For the second day in a row,
the Nifty saw a huge swing on the back of high stock specific volatility. At
the end, it settled near the day’s low losing 90 points. Nifty futures premium
settled at 9 points. India VIX fell 5.0% and ended at 25.5
|
Daily Nifty Levels (FUT)
|
R1: 7898
|
R2: 7996
|
R3: 8150
|
|
Pivot: 7842
|
S1: 7744
|
S2: 7688
|
S3: 7534
|
CHART INTERPRETATION:
Nifty break its major
support of 7940 and sustaining below.
Nifty
has an important support placed at 38.20 % retracement level of 7590.
Mechanical
indicator RSI is slipped below 30 marks while MACD is also negative poised.
INDEX OUTLOOK:
NIFTY FUTURE TIPS: The Nifty is likely to open gap up on the back of strong
global cues. It is likely to trade in the range of 7700-7900.
INTRADAY STOCK TIPS STRATIGY: Buy Nifty in the range of 7787-7797 for targets of
7830-7850, stop loss: 7747
SECTORIAL INDICES:
|
Key Indices – Levels to watch out for the day
|
|||||
|
INDEX (Spot)
|
RESISTANCE2
|
RESISTANCE1
|
LTP
|
SUPPORT 1
|
SUPPORT 2
|
|
SENSEX
|
26450
|
26250
|
25714.66
|
25600
|
25400
|
|
NIFTY
|
7950
|
7880
|
7791.85
|
7750
|
7665
|
|
BANKNIFTY
|
17720
|
17400
|
16917.65
|
16800
|
16600
|
|
CNX-IT
|
11550
|
11475
|
11284.10
|
11250
|
11090
|
CORPORATE NEWS:
Lupin has received approval from the US Food & Drug Administration
for anti-inflammatory drug Diclofenac Sodium.
Cairn India is set to expand its crude oil and
natural gas carrying capacity by laying a new gas pipeline from its Barmer
(Rajasthan) field with an investment outlay of Rs. 1,400 crore.
Gayatri Projects won multiple orders worth Rs 3318 crore from the
National Highways Authority of India.
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