iamaweDAILY TECHNICAL OUTLOOK

15th -July- 2016

NIFTY SPOT: 8565.00

Nifty Future

R1: 8603

R2:8631

R3: 8678

Pivot: 8556

S1: 8529

S2:8482

S3:8454

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CHART INTERPRETATION
Nifty future closed above to psychological level of 8550 on Thursday. Next logical targets for nifty
would be 8600-8680 and breaching of 8400 would force nifty to see levels of 8105-8200. whereas
the 8400-8350 will act as very strong Support levels, if once it go to 8580 then there will higher
probability for nifty to touch 8630-8680 levels.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK
NIFTY FUTURE: The Indian stock market ended with smart gains on Thursday tracking firm cues across the
Asian and the European markets. Nifty reclaimed 8,550 for the first time since August 11, 2015 as sentiment
were upbeat ahead of the Monsoon Session of Parliament, the Narendra Modi government on Thursday
reached out to the principal opposition party Congress over the contentious issue of Goods and Service Tax
Bill. The banking, consumer durables, power and telecom stocks led the rally. The IT stocks were pressure
ahead of Infy results. Logistics stocks like VRL Logistics, All Cargo, Gati were also in action. On the other hand,
the India's wholesale price index (WPI) rose 1.62% YoY in the month of June as compared to 0.79% in May.
STRATIGY: Buy Nifty future above 8580 for the tgt of 8630-8680 sl 8500.
SECTORIAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28250

28090

27942.11

27750

27600

NIFTY

8650

8600

8565.00

8500

8450

NIFTYBANK

19225

19050

18863.75

18700

18480

NIFTYIT

11400

11240

11157.85

11000

10850

CORPORATE NEWS

Wholesale Price Index (WPI) rose to 1.62% in June as compared to 0.79% for May of 2016 due to increase in food and
mineral prices.

National Aluminium Company Limited (NALCO) was granted Pottangi Coal Mines on lease for the next 50 years. The
factory is situated in the Koraput district of Orissa, near NALCOs 2.27 MnT Alumina Factory. Shares of the company went
up by 3.4%.

Shares of Bharat Forge went down by 2.4% after the company sold off 49% stake of their defense armKalyani Strategic
Systems (KSSL) to KSSLs promoter group.

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