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NIFTY OUTLOOK
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REPORT
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09 August 2016
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Prepared by: Meenakshi Pal
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NIFTY FUTURE
NIFTY FUTURE :
PIVOT :8742
R1:8759
S1:8725
R2:8776
S2:8709
R3:8792
S3:8692
NIFTY FUTURE: The Indian equity market rallied for third consecutive session on Monday ahead of
RBI policy review on Tuesday. The NSE Nifty index rose to a 15-1/2 month high thanks to positive cues
from the Asian and the European markets. The Sensex hit its highest level since 1 August 2016, while
Nifty hit its highest level since 16 April 2015.Oil & Gas, energy, auto, IT, consumer durables and metal
stocks led from the front. Only telecom index was among the major loser.
STRATEGY: Buy Nifty Future above 8730 for the target of 8780 -8830 with the stop loss of 8650.
WWW.EQUITYRESEARCHLAB.CO.IN
SECTORAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)
RESISTANCE 2 RESISTANCE 1
LTP
SUPPORT 1
SUPPORT 2
SENSEX
28520
28350
28182.57
28000
27800
NIFTY
8820
8760
8711.35
8665
8600
NIFTYBANK
19250
19110
18939.45
18780
18600
NIFTYIT
11420
11310
11197.20
11100
11000
CORPORATE NEWS
Britannia reported a 13.1% increase (YoY) in Net profit to Rs. 219.1 Cr for Q1FY17 from Rs. 193.6
Cr in Q1FY16. Total Income from operations rose by 9% to Rs. 2,196.6 Cr from Rs. 2,013.9 Cr.
Hero Motocorp reported an 18% increase (YoY) in Net profit to Rs. 883.1 Cr from Rs 747.5 Cr.
Revenue increased by 7.8% to Rs. 8,131 Cr from Rs 7,539.8 Cr in the corresponding quarter last fiscal.
Operating profit (EBITDA) increased by 18% (YoY).
Shares of Wockhardt nosedived by 10% after the US FDA banned product imports from Wockhardts
Ankleshwar plant for violation of manufacturing norms. This is their third plant to receive an import
alert from the US FDA.
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Designation
E-mail ID
Research Head
Sr. Research Analyst
Sr. Research Analyst
Tuhinanshu.jain@equityresearchlab.co.in
Yogesh.subnani@equityresearchlab.co.in
Meenakshi.pal@equityresearchlab.co.in
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