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NIFTY OUTLOOK
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REPORT
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th
08 June 2017
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 08th June 2017

NIFTY

NIFTY SPOT : R1:9693 R2:9715 R3:9735

PIVOT : 9676 S1:9648 S2:9630 S3:9603

NIFTY DAILY CHART

NIFTY OUTLOOK
Nifty is likely to open in a flat note. Momentum indicators like RSI are waving its flag for the bears once again.
We are expecting a weak trading session today. Positional traders are advised to average their long around 9575
with a stop loss of 9500.While intraday traders are advised to go for sell on rise strategy for todays trading
session.

Strategy: Short Nifty around 9665 with a stop loss of 9700 for the target of 9600

Name Current Value Change % Chg Open High Low

FTSE 100 (Jun 7) 7,478.62 -46.33 -0.62 7,524.95 7,555.62 7,476.33
CAC 40 (Jun 7) 5,265.53 -3.69 -0.07 5,261.42 5,320.04 5,254.03
DAX (Jun 7) 12,672.49 -17.63 -0.14 12,659.97 12,746.42 12,640.52

Nikkei 225 (Jun 8) 19,987.07 2.45 0.01 20,048.28 20,061.22 19,973.19

Straits Times (Jun
3,240.39 9.9 0.31 3,236.41 3,242.74 3,226.64
8)
Hang Seng (Jun 8) 26,024.65 50.49 0.19 25,974.00 26,058.04 25,923.21

Taiwan Weighted
10,220.18 10.19 0.1 10,215.93 10,235.70 10,214.07
(Jun 8)

SGX Nifty (Jun 8) 9,699.00 3 0.03 9,690.00 9,706.50 9,671.50

WWW.EQUITYRESEARCHLAB.COM
 08th June 2017

CORPORATE NEWS
Endurance Technologies
-Company planning to expansion of aluminum die casting plant, to expand from 8161 MT to 12,250 MT
-Current capacity utilization is 79.5 percent, to invest Rs 9.1 crore, all financing from internal accruals

Petronet LNG
-GDF International to exit Petronet LNG, launches block to sell 10 percent stake
-To sell Petronet stake at price range of Rs 417-440 per share
-To sell 10 percent Petronet stake at around Rs 3,100-3,300 crore

-Citi, JPMorgan are bankers to stake sale in Petronet

Sundeep Sikka, ED & CEO, Reliance Nippon Life AMC says

-Reliance Capital approves listing of Reliance Nippon Life AMC

-Reliance Nippon Life AMC plans to dilute 10 percent stake in the first tranche

Bhushan Steel
-Company says have never interacted or have any association with Shirish Chandrakant Shah
Alert: Income Tax Dept claims that Shah provided bogus entries for black money

Alert: Income Tax Dept claims Shah benefitted Bhushan Steel, Bhushan Power, Ajmera Group

-ICRA downgrades Tata Power to AA- from AA

-Amtek Auto board meeting on June 3rd June to consider issue of shares of preferential basis
-Cyient announces expanded strategic relationship with United Technologies Corp
-SEBI approves Asian Star's acquisition of 5 percent equity shares in Indian Commodity Exchange
Limited

-Indiabulls Ventures commences consumer finance business, net worth increased to Rs 1,000 crore
-Edelweiss issues its maiden unsecured perpetual bond aggregating to Rs 300 crore
-Healthcare Global launches 125 bed cancer centre in Nagpur, Maharashtra
-Biocon fixed June 17 as record date for bonus equity shares
-Zensar sets up R&D centre in Pune campus, plans one in US: ET
-SAIL, RINL clash over forged wheels for railway: FE
-Kotak Mahindra Bank to raise Rs 5,000 crore to shore up capital
-PFC plans foray into transmission and distribution space: FE
-Piramal Enterprises to extend funds Rs 1,100 crore to Embassy group: ET
-Telecom stocks in focus: TRAI to meet telecom CEO's on June 15 to discuss their financial crisis
-Gujarat Pipavav Ports put up for sale by APM terminals: ET
-M&M Says Mahindra Vehicle Sales now subsidiary of Mahindra Automotive North America-
Dynamic pricing for petrol & diesel likely to be introduced in 2nd fortnight of June: Sources

WWW.EQUITYRESEARCHLAB.COM
 08th June 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Manish Bimal Sr. Research Analyst Manish.bimal@equityresearchlab.co.in

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