Equity Research

Lab:-Daily OutLook

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NIFTY DAILY OUTLOOK NIFTY SPOT :

8219.90
Nifty Future
R3: 8297
Pivot: 8227
S3:8155

R1: 8250

R2:8275

S1: 8202

S2:818

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CHART INTERPRETATION:Nifty closed on at 8219.90 On Tuesday. Bulls and

bears have been indecisive. Recovery may be
continuing above 8200 levels else selling pressure
may be seen. On upside, Nifty has important
resistance at 8250 levels. On downside, support is
at 8050 levels.
Mechanical indicator stochastic RSI also showing
consolidated trend.

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INDEX OUTLOOK:NIFTY FUTURE:

Nifty closed at 8225.10 on Tuesday. After gaining for two
consecutive trading sessions, the Indian equity market closed lower
on Tuesday. Profit booking combined with negative global cues and
a weak rupee dampened the sentiment. Market participants also
were cautious ahead of the UK referendum scheduled on Thursday.
In addition, investors were also seen concerned about US Federal
Reserve Chairperson Janet Yellen's testimony to the US Congress.
The testimony can provide further cues towards the next phase of
the key lending rate hikes.Todays decline was led by the power,
utilities, banking, pharma and IT stocks. On the other hand, auto,
oil and gas, consumer durables and energy stocks were among the
major gainers.
INTRADAY STRATIGY:
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Buy Nifty future above
8250 for the tgt of 8300-8350 sl 8170.

SECTORIAL
INDICES:Key Indices Levels to watch out for the day

INDEX (Spot)

RESISTANCE 2 RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

27065

26980

26812.78

26635

26475

NIFTY

8300

8260

8219.90

8160

8100

NIFTYBANK

17950

17800

17619.10

17500

17360

NIFTYIT

11740

11620

11488.45

11390

11275

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CORPORATE NEWS :Mandhana Industries declined 20% as the company is in the process
of demerging its retail business. The company assured that there is no
disruption in its normal and ongoing business activities.
Maruti Suzuki is ramping up production of premium hatchback
Baleno to meet current demand and reduce waiting period. The
company has over 45,000 outstanding bookings for Baleno and
waiting period of 6-8 months depending on the variant.
Textile stocks surged on news of cabinet meeting to be held on
Wednesday to consider the much awaited textile policy. Stocks like
Arvind, Nandan Denim, Raymond, Kitex garments, Bombay Dyeing,
etc jumped on the news.
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