Professional Documents
Culture Documents
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NIFTY OUTLOOK
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REPORT
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04 November 2016
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Prepared by: Yogesh Subnani
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st
NIFTY FUTURE
NIFTY FUTURE :
PIVOT :8522
R1:8523
S1:8462
R2:8561
S2:8438
R3:8584
S3:8400
momentum.
INDEX OUTLOOK
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NIFTY FUTURE: Below 8475 will increase the downside pressure and may drag nifty to 8440/8380. Traders can
go short on the break below 8475.On the other hand, a decisive break above 8506 will ease the downside
pressure and take the index futures higher to 8550 and 8600 thereafter.
STRATEGY: Sell Nifty Future near 8510 for the target of 8475 -8450 with the stop loss of 8540
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SECTORAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)
RESISTANCE 2
RESISTANCE 1
LTP
SUPPORT 1
SUPPORT 2
SENSEX
27820
27650
27430.28
27300
27150
NIFTY
8600
8550
8484.95
8450
8400
NIFTYBANK
19575
19380
19178.70
19050
18900
NIFTYIT
10020
9900
9809.75
9690
9575
CORPORATE NEWS
Hero MotoCorp gained 1.3% after the company said its total motorcycle sales rose 3.65% to 6.63 lakh units in
October 2016 over October 2015.
Strides Shasun gained 6.6% after the company announced that Mylan agreed to settle regulatory and general
claims on Agila transaction.
Amjuba Cements Q3FY17 standalone Revenues declined by 3.8% YoY to Rs 2031 cr. Margins stood at 13.8%
(below estimates of 18%). Cement sales volume fell 6.6% YoY to 4.5 mn tonnes from 4.82 mn tonnes reported
in Q2FY16. While the net profits grew by 79.2% YoY at Rs 277 cr, it was largely due to higher other income.
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Designation
E-mail ID
Research Head
Sr. Research Analyst
Research Analyst
Tuhinanshu.jain@equityresearchlab.co.in
Yogesh.subnani@equityresearchlab.co.in
Meenakshi.pal@equityresearchlab.co.in
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