Professional Documents
Culture Documents
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NIFTY OUTLOOK
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REPORT
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06 October 2016
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Prepared by: Meenakshi Pal
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NIFTY FUTURE
NIFTY FUTURE :
PIVOT :8787
R1:8825
S1:8737
R2:8875
S2:8699
R3:8913
S3:8649
weak Asian cues. The Nifty reclaimed its crucial level of 8,800 supported by gains in realty, power,
metal, consumer durable, capital goods, auto, and banks. The BSE Mid-cap Index is trading up 0.50%
at 13,317 whereas BSE Small-cap Index is trading up 0.61% at 13,289.
The Nikkei India Services Business Activity Index registered 52 in September, down from Augusts 43
month high of 54.7, the latest reading pointed to a slower rate of expansion that was moderate
overall. ICICI Bank is trading marginally lower at Rs.257.15 on the BSE. ICICI Bank took the lead
with a 0.05% reduction in its marginal cost of funds-based lending rate to 9.05%. Bharat
Forge dropped 1.8% to Rs.906.55 on the BSE after the media report stated its class 8 truck orders in
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U.S. fell by 27% to 13,800 units in September 2016.
STRATEGY: Buy Nifty Future above 8800 for the target of 8850 -8900 with the stop loss of 8720.
SECTORAL INDICES
RESISTANCE 2
RESISTANCE 1
LTP
SUPPORT 1
SUPPORT 2
SENSEX
28600
28420
28220.98
28075
27900
NIFTY
8860
8800
8743.95
8700
8650
NIFTYBANK
19850
19700
19536.85
19350
19200
NIFTYIT
10535
10425
10333.35
10250
10150
CORPORATE NEWS
Force Motors Ltd reported domestic sales of 2,945 vehicles (1945 LCV + SCV; 1534 UV + SUV
+ Tractors) in September 2016, as against 2,514 units in September 2015, registering a healthy 17%
growth. In terms of exports, the company sold 415 vehicles last month, more than double of September
2015s figures, i.e. 206.
NBCC received various orders worth Rs. 1,117 Cr, which included a Rs. 470 Cr order for the
construction of a hospital from the labor ministry and a Rs. 270 Cr order for the construction of a
complex for the UGC. The stock ended higher by 1.4%
Alembic Pharmaceuticals received an Establishment Inspection Report (EIR) from the US Food &
Drug Administration (US FDA) for its formulation facility located in Panelav, Gujarat. The stock
closed up 3%.
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Designation
E-mail ID
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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