DAILY TECHNICAL OUTLOOK

14th -July- 2016

NIFTY SPOT: 8519.50

Nifty Future

R1: 8543

R2:8565

R3: 8586

Pivot: 8522

S1: 8499

S2:8478

S3:8455

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------www.equityresearchlab.com

CHART INTERPRETATION
Nifty future closed above to psychological level of 8500 on Wednesday. Next logical targets for nifty
would be 8500-8650 and breaching of 8320 would force nifty to see levels of 8105-8200. whereas
the 8350-8310 will act as very strong Support levels, if once it go to 8530 then there will higher
probability for nifty to touch 8580-8650 levels.

Mechanical indicator stochastic RSI also showing consolidated trend .

INDEX OUTLOOK
NIFTY FUTURE: The market has ended in red but the Nifty remained 8500. The 50-share index was down
1.55 points at 8519.50 while the Sensex was up 7.04 points at 27815.18. About 1011 shares have advanced,
1734 shares declined, and 165 shares are unchanged. Tata Steel, GAIL, ONGC, Coal India and BHEL were top
gainers while Lupin, Maruti, L&T, Asian Paints and Axis Bank were losers in the Sensex. The rupee opened
higher by nine paise at 67.09/$ against US Dollar Wednesday as against the previous close of 67.18/$.
STRATIGY: Buy Nifty future above 8530 for the tgt of 8570-8650 sl 8450.
SECTORIAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28100

27950

27815.18

27600

27450

NIFTY

8600

8565

8519.50

8450

8400

NIFTYBANK

18970

18800

18618.95

18460

18300

NIFTYIT

11400

11240

11128.20

10990

10850

CORPORATE NEWS

National Buildings Construction Corporation (NBCC) shares fell by 10.9% after the cabinet approved divesting of 15%
stake of the company. Government of India currently holds 90% stake in the company.

Government gave its nod to oil companies to increase prices of Kerosene by 25 paise/month until April 2017. The move
aims to reduce the under recoveries (losses due to subsidization) on Kerosene. Shares of ONGC and Oil India rose by 1.73%.

Shares of Kwality Limited surged by 2.9% after the company reported that it will be receiving a funding of Rs. 520 Cr from
Private Equity Firm KKR.

-------------------------------------------------------------------------------------------------------------------------------------------------------www.equityresearchlab.com

DISCLAIMER

The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not
accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits
them the most. Investment in Stocks has its own risks. Sincere efforts have been made to present the right investment
perspective. The information contained herein is based on analysis and up on sources that we consider reliable. We,
however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are
not responsible for any loss incurred based upon it & takes no responsibility whatsoever for any financial profit s or loss
which may arise from the recommendations above. The stock price projections shown are not necessarily indicative of
future price performance. The information herein, together with all estimates and forecasts, can change without notice.
Equity Research Lab does not purport to be an invitation or an offer to buy or sell any financial instrument. Analyst or any
person related to Equity Research Lab might be holding positions in the stocks recommended. It is understood that anyone
who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation
for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is
the acceptance of this disclaimer.

Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls or SMS or
Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If
found so then Serious Legal Actions can be taken. Any surfing and reading of the information is the acceptance of
this disclaimer.
ALL RIGHT RESERVED.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------www.equityresearchlab.com