Equity Research

Lab:-Daily OutLook

http://equityresearchlab.com

NIFTY DAILY OUTLOOK NIFTY SPOT :

8110.60
Nifty Future

R1: 814

R2: 8174

R3 : 8209

Pivot: 8111

S1: 8084

S2: 8049

S3 : 8022

http://equityresearchlab.com

http://equityresearchlab.com

CHART
INTERPRETATION
Nifty spot close at 8110.60 on Tuesday . At:higher side, important level 81508250. 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 8000. Further weakness is
nifty future is possible only if Nifty future falls and stays below the important
support of 8000-7950. At lower side nifty support level may be in the range of
7800-7700.

Mechanical indicator stochastic RSI also showing consolidated trend.

http://equityresearchlab.com

http://equityresearchlab.com

INDEX OUTLOOK:NIFTY FUTURE:Nifty closed at 8130.65 on Monday The Indian equity market ended on a flat note on
Tuesday amid a volatile trading session. After opening with a positive bias, indices slipped
gradually through out the day led by selling pressure in the energy, IT, oil & gas and
telecom stocks. However, sudden bout of buying in the realty, metals, PSU banks and
FMCG stocks in late trades aided the Nifty to bounce back sharply and close above the
8100 mark. The BSE Midcap and Smallcap index closed marginally higher too.Market
participants remained cautious ahead of the US Federal Reserve's two-day meeting that
begins later in the day and worries over a referendum in Britain next week about whether
to exit the European Union.

INTRADAY STRATIGY:Buy Nifty future above 8150 for the tgt of 8200-8250 sl 8070.
http://equityresearchlab.com

CORPORATE NEWS:The Wholesale Price Index (WPI) for May increased at 0.79% after
rising 0.34% in April and falling by 2.20% in May 2015. This is the
second straight increase in WPI which came after, a seventeen month
falling spree.
Shares of Deepak Fertilizers and Petrochemicals rose by 4.5% after the
Ministry of Petroleum and Chemical agreed to release Rs 485 crores of
outstanding subsidy money. The claims were due to the company in accordance
with the Nutrient Based Subsidy (NBS).
Shares of Public Sector Banks rallied up to 8% after the RBI announced a
scheme for sustainable structuring of stressed assets. The scheme would allow
the banks to convert up to half the loans taken by corporate borrowers into
equities and take control of the company.
http://equityresearchlab.com

http://equityresearchlab.com