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01st December 2016

NIFTY FUTURE

NIFTY FUTURE : PIVOT :8232

R1:8298 S1:8194

R2:8336 S2:8128

R3:8402 S3:8089

NIFTY DAILY CHART CHART INTERPRETATION Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7750. Traders can go short on a break below 8000.On the other hand, a decisive break above 8280 will ease the downside pressure and take the index futures higher to 8450 and 8550 thereafter. Indian Stock Market is still in negative zone but market would see a bounce at lower levels near support. Nifty is laying near its major support level of 7900. 7900 is a make or break level on closing basis. If Nifty closes below those levels then a breakdown would be seen in the market and we can even see levels of 7900-7700-7700 in days to come. If Nifty holds 7900 for next couple of days then we would see a sharp positive rally. MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

INDEX OUTLOOK NIFTY FUTURE: The key benchmark extended their gains in the late afternoon session and was hovering

near the highest point of the day on continued buying by domestic institutional investors amid higher opening among European counterparts. Sentiments remained upbeat on expectations of positive GDP data to be released later in the day. Further, Oil markets edged up ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014. Nifty closed 82.35 points higher at 8,224.50. The India VIX index was down 4.84% at 16.8500. The BSE Midcap closed at 12498.62 and Smallcap indices closed at 12329.65, both indices ending up by 1%. The rupee was trading at 68.48 per US dollar. On the global front, most Asian indices closed in green and marginally up. where all indices were trading WWW.EQUITYRESEARCHLAB.COM in green while, the US Nasdaq was also up 0.21%. STRATEGY: Buy Nifty Future above 8270 for the target of 8320 -8370 with the stop loss of 8200.


01st December 2016

SECTORAL INDICES

INDEX (Spot) SENSEX NIFTY NIFTYBANK NIFTYIT

Key Indices – Levels to watch out for the day RESISTANCE RESISTANCE LTP SUPPORT 1 2 1 27050 26850 26652.81 26440 8350 8280 8224.50 8160 18970 18800 18627.80 18430 10300 10170 10087.65 9980

SUPPORT 2 26250 8100 18200 9890

CORPORATE NEWS

Vivimed Labs closed higher by 7% after the company stated that the US health regulator has completed the inspection of its manufacturing facility in Alathur. The company’s ‘Finished Dosage Form’ manufacturing facility has had a favorable outcome post its US Food and Drug Administration (USFDA) inspection.

Lupin Ltd stated that it has received approval from the US health regulator to market its Armodafinil tablets, indicated to improve wakefulness, in the US market.

Idea Cellular Ltd fell 2% to Rs77.3 after the company said in a notice to BSE that the media reports that the company looking to sell 20% stake is just a speculation.

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01st December 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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