Equity Research Lab:Daily OutLook

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NIFTY DAILY OUTLOOK NIFTY SPOT:8088.60

Nifty Future
R3: 8222

R1: 8140

Pivot: 8094
S3:7976

S1: 8058

R2:8176
S2:8012

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CHART INTERPRETATION:Nifty closed on at 8094.70 On Monday. Next

logical targets for nifty would be 8050-8000 and
breaching of 8000 would force nifty to see
levels of 7900. whereas the 8150-8200 will act
as very strong resistance levels, if once it go to
8200 then there will higher probability for nifty
to touch 8225-8250 levels.
Mechanical indicator stochastic RSI also
showing consolidated trend.
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INDEX OUTLOOK:NIFTY FUTURE: Finally, the Sensex ended with a gain of more five
points at 26,403. Sensex opened at 26,348 touched an intra-day high of
26,494 and low of 26,263. While Nifty closed with a gain of seven points
at 8,095. On the global front, Asian markets closed on a mixed note. The
Shanghai Composite index closed higher. Hong Kongs Hang Seng index
ended lower, while Nikkei 225 jumped 1.4%. European markets were
trading lower. The FTSE 100 was trading down 1.3%. DAX and the CAC
40 were trading lower 2% each. Mid-cap Index is trading up 0.68% at
11,389, whereas BSE Small-cap Index is trading up 1.44% at 11,441. On
the economy front, Chief Economic Advisor Arvind Subramanian said
that Brexit from the European Union, was a sad development but India
would not be affected by it due to Indias solid macroeconomic.
INTRADAY STRATIGY: Sell Nifty future above 8100 for the tgt of 80508000 sl 8170.

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SECTORIAL INDICES :-

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CORPORATE NEWS:Indian Meteorological Department announced that the Monsoon rains

are likely to end later than usual this year. This could see heavy rains
towards the latter stages of the season and would help the farmers to
recover from two straight droughts in the previous years.
Shares of Bajaj Finserv went up by 4.25% after reports suggested that
the company plans to buyout German Firm Allianz SEs stake in its
insurance firms Bajaj Allianz Life Insurance and Bajaj Allianz General
Insurance.
Aban Offshore received a contract from ONGC for the deployment of
its drillship Aban Abraham, for a period of 2 years. The shares of the
company went up by 3.3%.

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