26th May 201

Nifty Tips
NIFTY SPOT: 7934.90
Nifty Future R1: 7994
R3: 8141
Pivot: 7898 S1: 7847
S3:7699

R2:8045
S2:7751

CHART INTERPRETATION

Nifty spot close at 7934.90 on Wednesday . At

higher side, important level 7980-8000. As
long as Nifty future manages to sustain above
this level on intraday declines, the trend will
be strong and nifty future will try touch
further higher levels from this level. At lower
side, support near 7700. Further weakness is
nifty future is possible only if Nifty future
falls and stays below the important support of
7700-7670. At lower side nifty support level
may be in the range of 7750-7650.
Mechanical indicator stochastic RSI also
showing consolidated trend.

INDEX OUTLOOK
NIFTY FUTURE: Nifty closed at 7759.30 on
Wednesday. The Indian indices shot up on
Wednesday tracking a strong rally in equity
markets across the globe. Sentiment got a
boost after US home sales data supported the
consensus view that the economy may be
strong enough for the Federal Reserve to raise
interest rates in the coming months. Besides,
hopes of above normal rains in the upcoming
monsoon season kept the sentiment high too.
Market experts believe the 7980 hurdle for the
Nifty could soon be broken and a rally leading
all the way to around 8250-level cannot be
ruled out.
INTRADAY STRATIGY: Buy Nifty future above
7950 for the tgt of 8000-7850 sl 7870.

SECTORIAL INDICES

CORPORATE NEWS
Bajaj Autos profit jumped 29.2% to Rs. 803 cr
due to better operational performance and good
volume growth. Total income surged 14.2% at
Rs. 5411 cr against Rs. 4739 cr in a year ago
period.
Ashok Leyland reported 66.5% fall in Net profit
at Rs. 77 cr due to an exceptional loss of Rs. 379
cr made on provisioning on investments in joint
ventures and overseas subsidiaries. Revenue
increased 32% to Rs. 5955 cr compared to Rs.
4505.7 cr in the same quarter last year.
After a gap of 4 years, the government has
offered to auction 46 discovered oil and gas
fields through internal bidding. The bidding for
discovered small fields will open on July 15 and
the last date would beOctober 31.

Thank you

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