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NIFTY OUTLOOK
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29 March 2017
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 29th March 2017

NIFTY

NIFTY SPOT : R1:9133 R2:9147 R3:9171

PIVOT : 9109 S1:9095 S2:9071 S3:9056

NIFTY DAILY CHART

CHART INTERPRETATION

The major support for the nifty index is placed at 8980 & 8970 region as it is supported by following studies: The
high of previous two weeks consolidation is at 8980,Rising 20-day EMA, which has acted as intermediate
support in the entire up move since December 2016 lows, is placed at 8941. As per the change of polarity, yearly
high of 2016 is at 8968 is likely to reverse its role and act as support, going forward. Among oscillators, the short-
term stochastic is rebounding after approaching close to the oversold threshold and supports continuance of
pullback efforts in the coming sessions.

INDEX OUTLOOK

Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. Its important to
sustain above 9130 to move upwards. Buy Nifty near 9100 for targets of 9130-9160, stop loss: 9070

Nifty Bank Future: Bank Nifty opened positive and traded consilidated for whole day. Bank nifty needs to
sustain above 20100 for further up move. Major support for market is placed near 20750, below which lower
levels of 20500 can be seen. Buy Nifty Bank near 21200, targets: 21350, stop loss: 20050

WWW.EQUITYRESEARCHLAB.COM
 29th March 2017

SECTORAL INDICES

Key Indices Levels to watch out for the day

INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 29700 29550 29409.52 29245 29075
NIFTY 9175 9135 9100.80 9050 9000
NIFTYBANK 21500 21360 21225.40 21080 20890
NIFTYIT 10850 10750 10681.05 10540 10435

CORPORATE NEWS

Larsen and Toubros construction arm secured a key design-and-build order worth Rs. 2,903cr to re-develop
Mumbais century-old BDD chawls at Worli, for Maharashtra Housing and Area Development Authority
(MHADA).

Dishman Pharma closed up 20% after the company received the United States Food and Drug Administration
(US FDA) approval for its cancer drug Zejula Capsules for Tesaro Inc.

Share price of Technofab Engineering ended higher by 4.4% on news that the company has bagged three
orders from Power Grid Corporation for Rs 255cr, in the state of Tripura. It has also received one order from
the Ministry of Agriculture and Animal Resources, Kigali for construction contract related to establishment of
Centre of Excellence in Farm Mechanisation for $12.3mn. The order has a timeline of one year for completion.

WWW.EQUITYRESEARCHLAB.COM
 29th March 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Yogesh Subnani Sr. Research Analyst Yogesh.subnani@equityresearchlab.co.in

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