qwertyuiopasdfghjklzxcvbnmqwerty

uiopasdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasdfghjklzxc
vbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
NIFTY OUTLOOK
hjklzxcvbnmqwertyuiopasdfghjklzxc
REPORT
vbnmqwertyuiopasdfghjklzxcvbnmq
16 January 2017
wertyuiopasdfghjklzxcvbnmqwertyui
Prepared by: Meenakshi Pal
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmrtyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyuiopas
th

16th January 2017

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8421

R1:8453
S1:8384

R2:8490
S2:8352

R3:8520
S3:8316

NIFTY DAILY CHART

CHART INTERPRETATION
Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter
into negative zone once Nifty closes below 8250 levels for Nifty Traders can initiate fresh short position once
market closes below these levels. Market has consolidated for long time and now there are strong possibility of
a breakout or breakdown in upcoming days. Once Nifty closes below 8250 levels then market would see a sharp
breakdown. So traders can hold long positions only till Nifty hold these levels by closing. Nifty would see strong
support at 8250-8226-8180-8150 whereas strong resistance would be seen at 8445-8465levels.

WWW.EQUITYRESEARCHLAB.COM

16th January 2017

INDEX OUTLOOK
NIFTY FUTURE: Equity benchmarks closed lower after extending for 3rd consecutive session.Globally

investors will closely watch US President-elect Donald Trump's news conference later in the day for any
clues to his policies on tax, fiscal spending, international trade and currencies. Nifty moved closer to
8461 level but closed in red down at 8417. Nifty managed to close above its 100 days EMA level of
8300 and hence we may expect some more upside from here. Going forward, if Nifty breaks above
8380 on closing basis we hold 8460 followed by 8510 as the near-term resistances. If 8300 is broken
on the downside we hold 8275-8230 as the supports.
STRATEGY: Sell Nifty Future above 8400 for the target of 8360 with the stop loss of 8461

WWW.EQUITYRESEARCHLAB.COM

16th January 2017

SECTORAL INDICES

INDEX (Spot)
SENSEX
NIFTY
NIFTYBANK
NIFTYIT

Key Indices Levels to watch out for the day

RESISTANCE
RESISTANCE
LTP
SUPPORT 1
2
1
27575
27420
27238.06
27000
8500
8460
8400.35
8340
19200
19030
18912.10
18750
10550
10410
10236.50
10140

SUPPORT 2
26840
8290
18550
10020

CORPORATE NEWS

Infosys reported a 7% increase in net profit to Rs. 3,708 Cr in Q3FY17, against Rs. 3,465 Cr in the corresponding
quarter last year. Revenue rose by 8.6% to Rs. 17,273 Cr, against Rs. 15,902 Cr previously. The company added
77 new clients in Q3FY17, taking the total number of customers to 1,152. They also tweaked their annual
guidance to 8.2-8.8% from 8-9% previously.

Spicejet announced a deal for the purchase of 205 aircrafts from Boeing. The original order of 55 aircrafts was
enhanced to 100 additional aircrafts and 50 further purchase rights. The 205 aircraft deal is valued at Rs.
150,000 Cr. Shares closed up 2.5%.

Gruh Finance reported a 19.2% increase in net profits in Q3FY17 at Rs. 64 Cr, against Rs. 53.7 Cr in the
corresponding quarter last year. The company reported a 17.8% increase in total income to Rs. 381 Cr, against
Rs. 323.6 Cr previously. The aggregate NPAs of the company improved to 0.54% in Q3FY17 from 0.62% in
Q3FY16.

WWW.EQUITYRESEARCHLAB.COM

16th January 2017

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

DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be
reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have
the right to choose the product/s that suits them the most. Investment in Stocks has its own risks.
Sincere efforts have been made to present the right investment perspective. The information contained
herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch
for the accuracy or the completeness thereof. This material is for personal information and we are not
responsible for any loss incurred based upon it & takes no responsibility whatsoever for any financial
profit s or loss which may arise from the recommendations above. The stock price projections shown
are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice.
Equity Research Lab does not purport to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Equity Research Lab might be holding positions in the
stocks recommended. It is understood that anyone who is browsing through the site has done so at his
free will and does not read any views expressed as a recommendation for which either the site or its
owners or anyone can be held responsible for. Any surfing and reading of the information is the
acceptance of this disclaimer.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our
calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly
or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of
the information is the acceptance of this disclaimer.
ALL RIGHTS RESERVED.

WWW.EQUITYRESEARCHLAB.COM