NIFTY
FUTURE: 8505.40 (+0.28%)
Post a
negative start, the Nifty was seen gaining some momentum in morning trades and
recovered almost 60 points from the day’s low. However, it consolidated in the
second half and finally ended only 27 points higher. Nifty future premium
settled at 10 points. India VIX rose 1.95% and ended at 16.7
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Daily Nifty Levels (FUT)
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R1:8552
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R2:8598
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R3:8707
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Pivot: 8489
CHART INTERPRETATION:
Nifty has immediate resistance at trend line placed at 8600 mark.
Nifty is trading
above 200-day and 100-day SMA which is positive indication.
Mechanical indicator
RSI trading above 50 marks while MACD is still negative poised.
INDEX OUTLOOK:
NIFTY FUTURE TIPS: The Nifty is likely to open negative on the back of
weak global cues. It is likely to trade in the range of 8410-8530.
INTRADAY STOCK TIPS STRATIGY: Sell Nifty in the range of 8500-8510 for targets of
8470-8450, stop loss: 8530
SECTORIAL INDICES:
CORPORATE NEWS:
Glenmark Pharmaceuticals said that its US subsidiary Glenmark Pharmaceuticals Inc., USA has
received final approval from the US drug regulator for a generic medicine.
Amtek Auto fell 30% to Rs 89 on NSE after the National Stock Exchange
announced that the bourse has decided to exclude the stock from its equity
derivatives segment.
Everonn Education was locked at 20% upper
circuit at Rs 33.05 on BSE after the company's board proposed conversion of
loan into equity through preferential allotment of equity shares to the
promoter group.
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S1:8443
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S2:8380
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S3:8271
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