DAILY TECHNICAL OUTLOOK

25th -July- 2016

NIFTY SPOT: 8541.20

Nifty Future

R1: 8578

R2:8602

R3: 8642

Pivot: 8539

S1: 8515

S2:8476

S3:8451

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CHART INTERPRETATION
If upcoming results support then this positive movement would continue till 8700 levels for Nifty .The only strategy
for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. and
Expectations of a good monsoon have once again reinforced the confidence among market participants that the
growth may come back on a good note, timely onset of the monsoons will be a positive for the markets. A strong
break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break
below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index
futures higher to 8650 and 8700 thereafter.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK
NIFTY FUTURE: The Indian stock market ended with smart gains on Friday amid a volatile trading
session. Sentiment got a fillip after reports stated that the Rajya Sabha will take up GST Bill for discussion
next week. Todays upsurge was led by the realty, power, metals, utilities, industrial, basic materials, capital
goods and telecom stocks. Only IT stocks closed in red on BSE. Among the 51-stocks of Nifty, Tata Motors
DVR, Tata Motors, Power Grid, Zee, Bharti Infratel, HDFC and Tata Power gained on NSE, whereas ACC, Bajaj
Auto, SBI, Bosch, Wipro, Bank od Baroda, Dr. Reddy's, Sun Pharma and HUL closed with losses.
STRATIGY: Buy Nifty Future above 8550 for the tgt of 8600 -8650 with the sl of 8470.
SECTORIAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28200

28020

27803.24

27660

27500

NIFTY

8650

8600

8541.20

8500

8460

NIFTYBANK

19030

18850

18690.40

18500

18340

NIFTYIT

11000

10880

10756.00

10680

10600

CORPORATE NEWS

Power Grid Corporation of India approved investments worth Rs 2,731 Cr in various projects. As many as 11 projects were
approved. The major one being a transmission system for a solar park at Bhadla, Rajasthan for Rs 1,429 Cr. Shares of Power
Grid Corporation went up by 2.1%.

Federal Bank reported an 18.3% rise in net profit to Rs 167.3 Cr for the Q1FY17 as compared to Rs 141.4 Cr in the
corresponding quarter last fiscal. The total income increased by 6.7% from to Rs 2,250.8 Cr from Rs 2,107 Cr on a YoY basis.
Gross NPAs rose to 2.92% of gross advances against 2.59% previously.

Mahindra & Mahindra Financial Services reported a 2% fall in net profits to Rs 87 Cr as compared to Rs 89 Cr in the
corresponding quarter last year. The bottom line was impacted mainly due to Net Interest Margin (NIM) which tumbled by
32.5% and stood at Rs 675.4 Cr. Gross NPA rose from 8% to 10.7%.

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