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NIFTY OUTLOOK
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REPORT
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13 January 2017
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Prepared by: Meenakshi Pal
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13th January 2017

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8409

R1:8432
S1:8394

R2:8447
S2:8371

NIFTY DAILY CHART

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R3:8461
S3:8356

13th January 2017

CHART INTERPRETATION
Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter
into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once
market closes below these levels. Market has consolidated for long time and now there are strong possibility of
a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp
breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong
support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8445-8465levels.

INDEX OUTLOOK
NIFTY FUTURE: Equity benchmarks extended gains for 3rd consecutive session Thursday, with the

Sensex closing at two-month high after stable earnings from banks (despite demonetisation) and China's
decision to cut steel production. Globally investors will closely watch US President-elect Donald
Trump's news conference later in the day for any clues to his policies on tax, fiscal spending,
international trade and currencies. Nifty moved closer to 8400 level, up 92.05 points or 1.11 %at
8380.65. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect
some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold
8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold
8275-8230 as the supports.
STRATEGY: SELL Nifty Future above 8461 for the target of 8400 with the stop loss of 8481

WWW.EQUITYRESEARCHLAB.COM

13th January 2017

SECTORAL INDICES

INDEX (Spot)
SENSEX
NIFTY
NIFTYBANK
NIFTYIT

Key Indices Levels to watch out for the day

RESISTANCE 2
RESISTANCE 1
LTP
SUPPORT 1
27575
27420
27247.16
27000
8500
8460
8407.20
8340
19175
19000
18873.95
18700
10620
10515
10398.80
10270

SUPPORT 2
26840
8290
18540
10150

CORPORATE NEWS

TCS reported Total Revenue at Rs. 29,735 Cr, up by 8.7% on a YoY basis, against Rs. 27,364 Cr in the
corresponding quarter last year. Net Profit increased by 10.9% to Rs. 6,778 Cr, against Rs. 6,110 Cr in the
corresponding quarter last year. Operating Income stood at Rs. 7,733 Cr, and margins remained stable at 26%.
Business from markets like Latin America and India clocked double digit growth of 12.5% and 10.3%
sequentially, while North America grew 2.2 % and UK showed 1.7% growth.

Bajaj Corp reported a 17.2% rise in Net Profit in Q3FY17 to Rs. 57.8 Cr, as against Rs. 49.3 Cr in the
corresponding quarter last year. On the contrary, Net Sales were down by 4.8% at Rs. 186.4 Cr against Rs.
195.7 Cr previously.

MMTCs Joint Venture with Orissa Government - Neelachal Ispat Nigam signed a mining lease agreement for
iron ore, which is its basic raw material for operations. Shares closed up 3.3%.

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13th January 2017

ERL RESEARCH TEAM

Member Name

Designation

E-mail ID

Mr. Tuhinanshu Jain

Mr. Yogesh Subnani
Miss. Meenakshi Pal

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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