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NIFTY OUTLOOK
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REPORT
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th
29 May 2017
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 29th May 2017

NIFTY

NIFTY SPOT : R1:9575 R2:9600 R3:9630

PIVOT : 9545 S1:9505 S2:9434 S3:9393

NIFTY DAILY CHART

NIFTY OUTLOOK
Nifty is likely to open in a negative note. Nifty is surprising every bull and bear with its move. We are expecting
nifty to rise high and rule the stock market today. Momentum indicators are indicating towards more bull
market in upcoming trading sessions. Intraday traders are advised to adopt buy on dip strategy for the day.
Positional traders are advised to keep their longs for the target of 9700 with a trailing stop loss of 9450. While
for contra positions 9650 will be a stop loss.

Strategy: long nifty around 9550 for the target of 9600 with stop loss of 9505

Name Current Value Change % Chg Open High Low

FTSE 100 (May 26) 7,547.63 29.92 0.4 7,517.71 7,554.21 7,514.39
CAC 40 (May 26) 5,336.64 -0.52 -0.01 5,328.86 5,336.76 5,282.42
DAX (May 26) 12,602.18 -19.54 -0.16 12,604.40 12,611.49 12,529.51
Nikkei 225 (May
19,720.95 34.11 0.17 19,697.18 19,736.62 19,627.19
29)
Straits Times (May
3,217.77 -1.65 -0.05 3,217.25 3,221.24 3,211.22
29)
Hang Seng (May
25,682.71 43.44 0.17 25,672.40 25,696.39 25,579.15
29)

Taiwan Weighted 10,101.95 -6.54 -0.06 10,090.18 10,121.88 10,072.84

(May 26)
SGX Nifty (May
9,572.00 -3 -0.03 9,572.00 9,586.00 9,556.00
29)

WWW.EQUITYRESEARCHLAB.COM
 29th May 2017

CORPORATE NEWS
Results today: L&T, Coal India, NTPC, BPCL, Power Grid Corporation, BHEL, Bharat Electronics,
Aurobindo Pharma, NHPC

-Listing: PSP Projects

-RMV Switchgear to come forward with new project of manufacturing of environmental friendly
'Imitation Marble and Wooden Surfaces for walls and floors with production capacity of more than 20
lakh square feet of sheets/ profile per annum' with a capex of Rs 8.01 crore and is likely to commence
its commercial production from the month of June 2017

-EID Parry: Crisil upgrades rating to AA-/stable

-Igarshi Motors board approves bonus issue

-Balkirshna Paper Mills to raise funds to the tune of Rs 25 crore by issuing 25,00,000, 9 percent
cumulative redeemable preference shares of face value of Rs 100 each

-Bank of Baroda to raise additional Rs 9,000 crore (Rs 6,000 crore through equity capital and Rs 3,000
crore through tier 1 bonds)

-Jindal Stainless Steel allotted 6 crore shares to lender of the company at conversion price of Rs
39/share
-CG power has received an offer for acquisition of the company's power business in United States of
America, comprised in its subsidiary, CG Power Systems USA Inc (PSUS)

-Mercator has been awarded a contract by the New Mangalore Port Trust for maintenance dredging at
New Mangalore Port for a period of three years; value of the contract is Rs 98 crore

-Brookfiled in talks to buy towers of Idea Cellular and Vodafone at an enterprise value of Rs 6,454
crore: ET

-Reliance Communications trips on loan servicing with over 10 domestic lenders: ET

-BALCO working on a plan to enhance capacity

-Indian Hotels in focus: Bankers value Taj Hotel at Rs 1,000 crore, bids for Mansingh may go up to Rs
3,000 crore: BS

-Tata Communications in focus: Tata Teleservices net worth erodes by Rs 11,650 crore: BS

-Torrent Pharma turns sales focus to Brazil, Germany: BS

-Raymond lines up Rs 350 crore expansion plan: ET

-Ashok Leyland has 3 pronged approach for electric buses

-SAIL's salem unit sale hits a roadblock

-IOC seeks 2,700 acres to expand Paradip petrochem project-Jindal Steel completes construction 4
mtpa blast furnace in Odisha

WWW.EQUITYRESEARCHLAB.COM
 29th May 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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