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NIFTY OUTLOOK
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15 March 2017
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 15th March 2017

NIFTY FUTURE

NIFTY FUTURE : R1:9148 R2:9193 R3:9274

PIVOT :9113 S1:9068 S2:9032 S3:8952

NIFTY DAILY CHART

CHART INTERPRETATION

We have now revised the immediate support threshold for the index upwards to 8860 region as it is the
confluence of following: The base of previous two weeks sideways consolidation is placed at 8860.Lower
boundary of the short term rising channel in place since February 2017 is also placed around 8900 region.
Among oscillators, the 14 period RSI is at the cusp of breaking out above the upper band of its narrow
consolidation band of 55 to 75 readings. A resolute move above 75 will infuse further upward momentum going
forward

INDEX OUTLOOK
NIFTY FUTURE The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 9140-
9150 for targets of 9090-9070, stop loss: 9170

Nifty Bank Future: Highest intraday additions in terms of open interest were seen in the index for the March
series. It managed to end at all-time high levels. A sharp appreciation of the rupee against the US$ is likely to
provide more steam to banking stocks. We feel the midcap banking space is likely to outperform
heavyweights.

STRATEGY: Buy Nifty Bank in the range of 21000-21040, targets: 21150-21250, stop loss: 20930

WWW.EQUITYRESEARCHLAB.COM
 15th March 2017

SECTORAL INDICES

Key Indices Levels to watch out for the day

INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 29820 29575 29442.63 29300 29100
NIFTY 9200 9125 9087.00 9050 8990
NIFTYBANK 21500 21300 21102.70 20890 20650
NIFTYIT 11100 10950 10879.25 10750 10640

CORPORATE NEWS

Sun Pharma was informed by the USFDA, that it will lift the Import Alert imposed on the Mohali (Punjab)
manufacturing facility and remove the facility from the Official Action Initiated (OAI) status. This proposed
action will clear the path for Sun Pharma to supply approved products from the Mohali facility to the US
market, subject to normal US FDA regulatory requirements.

NBCC won an order worth Rs. 250 cr from the Mauritius government to build new Supreme Court building. The
company has been appointed as the project management consultant.

Pennar Industries one of Indias leading industrial organizations offering specialized, engineering steel
solutions have announced major receipt of orders worth Rs. 202 cr across its business units from various
players including JSW Steel, Tata Power, GE Power and Thermax.

WWW.EQUITYRESEARCHLAB.COM
 15th March 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Yogesh Subnani Sr. Research Analyst Yogesh.subnani@equityresearchlab.co.in

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