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NIFTY OUTLOOK
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REPORT
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1 September 2016
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Prepared by: Meenakshi Pal
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st

1st September 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8829

R1:8870
S1:8795

R2:8904
S2:8755

R3:8944
S3:8721

NIFTY DAILY CHART

CHART INTERPRETATION
The only strategy for the traders should be to hold long positions or initiate fresh long positions at every
dip in the market. And Expectations of a good monsoon have once again reinforced the confidence
among market participants that the growth may come back on a good note, timely onset of the
monsoons will be a positive for the markets. A strong break below 8600 will increase the downside
pressure and drag it to 8400/8300. Traders can go short on a break below 8600.On the other hand, a
decisive break above 8820 will ease the downside pressure and take the index futures higher to 8900
and8950thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY FUTURE: Nifty touched psychological 8800-mark intraday for the first time since April 15,
2015 but it failed to hold the same level and closed 41.85 points higher to 8786.20.
equity markets closed higher on account of buying in frontline blue chip counters on Wednesday ahead
of the release of economic growth data later in the day. Market continued its positive momentum and
reached the high P/E valuation of 17x (one year forward) which is similar to the rally of FY15. This is
in expectation of a likely revival in earnings on account of improving domestic fundamentals
The
BSE
Midcap
traded
in
line
with
benchmarks,
rising
0.4
percent.
STRATEGY: Buy Nifty Future
WWW.EQUITYRESEARCHLAB.COM

above 8850 for the target of 8900 -8950 with the stop loss of 8770.

1st September 2016

SECTORAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28800

28650

28452.17

28150

28000

NIFTY

8850

8800

8786.20

8740

8700

NIFTYBANK

20000

19900

19784.40

19600

19500

NIFTYIT

10700

10625

10533.95

10400

10300

CORPORATE NEWS

Zee Entertainment announced the sale of its loss making sports arm to Sony Pictures for Rs. 2,600 Cr
approximately. The sports business made a net loss of 37.2 Cr in FY16. The deal consists of acquisition of 10
TEN Sports channels operating in various countries. The deal will push up Zees earnings and margins.

Bharat Petroleum Corporations Q1 results showed an 11% rise in net profit Rs. 2,620.5 Cr, as against Rs.
2,360.7 Cr in the corresponding period last fiscal. Revenue declined by 3% to Rs. 57,015.8 Cr in the quarter
compared with Rs. 58,818.4 Cr in same period last year. Operational margin expanded by 37 basis points to
6.87% for the quarter.

The Union Cabinet eased rules for quicker settlements of disputes in the construction sector. In a bid to
activate stranded projects, the cabinet has asked government agencies and public bodies to pay 75% of the
money in cases of such disputes. The construction sector, which contributes 8% of the countrys GDP, will get a
boost as the move will enhance liquidity in the sector. Stocks namely; HCC, Simplex Projects, Gammon India,
ARSS Infrastructure, GVK Power & Infra, Punj Lloyd, IVRCL, Simplex Infrastructure were up 5%-20%.

WWW.EQUITYRESEARCHLAB.COM

1st September 2016

ERL RESEARCH TEAM

Member Name

Designation

E-mail ID

Mr. Tuhinanshu Jain

Mr. Yogesh Subnani
Miss. Meenakshi Pal

Research Head
Sr. Research Analyst
Sr. Research Analyst

Tuhinanshu.jain@equityresearchlab.co.in
Yogesh.subnani@equityresearchlab.co.in
Meenakshi.pal@equityresearchlab.co.in

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