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NIFTY OUTLOOK
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REPORT
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16 August 2016
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Prepared by: Meenakshi Pal
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16th August 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8664

R1:8715
S1:8627

R2:8753
S2:8576

R3:8804
S3:8538

NIFTY DAILY CHART

CHART INTERPRETATION
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 8750
and8900thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY FUTURE: The Indian stock market opened higher tracking positive Asian shares. The BSE
Sensex opened 60.35 points up at 27919.95, while Nifty 50 index opened 13.30 points up at 8605.45.
Nifty closed with a gain of 80 points at 8,672. The NSE Nifty opened at 8,605 hitting a high of 8,684
and low of 8,672. Nifty ended higher on Friday following better-than-expected Q1 results from public
sector lenders like State Bank of India and Bank of India amid firm global cues. All wholesale
commodity markets, including bullion and metals, will remain closed on August 15 on account of
Independence Day.
STRATEGY: Buy Nifty Future above 8680 for the target of 8730 -8800 with the stop loss of 8620.
WWW.EQUITYRESEARCHLAB.CO.IN

16th August 2016

SECTORAL INDICES

INDEX (Spot)

Key Indices Levels to watch out for the day

RESISTANCE RESISTANCE
LTP
SUPPORT 1
2
1

SUPPORT 2

SENSEX

28387

28270

28085

27967

27783

NIFTY

8753

8715

8664

8627

8538

NIFTYBANK

19209

19096

18912

18800

18615

NIFTYIT

11358

11266

11209

11117

11060

CORPORATE NEWS
Supreme Court in its latest ruling has lifted the ban on diesel vehicles with engines larger than 2,000 cc
in the Delhi NCR region. The concession has been made against the clause of paying a 1% cess, which
will be paid to the Delhi Pollution Control Board. The government authority will then utilise this
money to find ways to lower pollution in Delhi. The payment will have to be made by the carmaker
before the vehicle can be registered and hence the payment will be made on the ex-showroom prices.
In case of non-payment, the vehicle will not be registered by the concerned transport authority. This
news comes as a great relief for companies such as Mercedes-Benz, Tata Motors, Ford, Chevrolet and
Toyota.
Sun Pharmaceutical Industries Ltd has announced the following consolidated results for the
quarter ended June 30, 2016.The company has posted a net profit after taxes, minority interest and
share of profit of associates and joint ventures of Rs.2033.71 crore for the quarter ended June 30,
2016 as compared to Rs.555.90 crore for the quarter ended June 30, 2015. Total Income has
increased from Rs.6925.60 crore for the quarter ended June 30, 2015 to Rs.8400.09 crore for the
quarter ended June 30, 2016.
State Bank of India has announced the following results for the quarter ended June 30, 2016
The
Unaudited
Standalone
results
for
the
Quarter
ended
June
30,
2016
The Bank has posted a net profit of Rs. 25209.60 million for the quarter ended June 30, 2016 as
compared to Rs. 36924.30 million for the quarter ended June 30, 2015. Total Income has increased
from Rs. 447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million for the
quarter ended June 30, 2016.

WWW.EQUITYRESEARCHLAB.CO.IN

16th August 2016

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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