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NIFTY OUTLOOK
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REPORT
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24 January 2017
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Prepared by: Meenakshi Pal
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24th January 2017

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8348

R1:8432
S1:8351

R2:8469
S2:8300

R3:8520
S3:8266

NIFTY DAILY CHART

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
STRATEGY: Sell Nifty Future near 8441 for the target of 8400 with the stop loss of 8481

WWW.EQUITYRESEARCHLAB.COM

24th 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
27450
27320
27117.34
26975
8500
8460
8391.50
8350
19200
19000
18842.70
18650
10475
10350
10219.40
10100

SUPPORT 2
26800
8300
18500
9990

CORPORATE NEWS

Hindustan Unilever reported a 6.9% increase in Net Profits to Rs. 1,037.9 Cr in Q3FY17 against Rs. 971.7 Cr in
the corresponding quarter last year. It had an exceptional profit on sale of surplus properties of Rs. 159 Cr and
restructuring expenses of Rs. 6 Cr. Total Income fell 0.8% on YoY basis to Rs. 8,317.9 Cr against Rs. 8,384.7 Cr.
EBITDA margin contracted by 70 basis points largely due to rising input costs.
JSW Energy reported a 26.7% drop in Consolidated Net Profit to Rs. 1,904.3 Cr as compared to Rs. 2,599 Cr
YoY. Operating Profit stood at Rs. 657 Cr, down by 42.7%. Net Profit went down 93.1% to Rs. 21.4 Cr, against
Rs. 309.3 Cr YoY on lower generation and lower tariff. Total plant load factor for the quarter stood at 56%,
which was much lower compared with 71% in same quarter last year, impacted by lower PLF at Ratnagiri and
Vijayanagar plants.
Kalpataru Power Transmission received orders worth Rs. 825 Cr. The order consists of transmission line and
sub-station projects worth Rs. 440 Cr in Africa and CIS (Commonwealth of Independent States) region. There
were two other pipeline projects from IOCL and GAIL worth about Rs. 277 Cr and a railway project from CORE
worth about Rs. 111 Cr. Shares closed up 2.2%.

WWW.EQUITYRESEARCHLAB.COM

24th 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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