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23rd March 2016

Nifty Tips
NIFTY SPOT: 7714.90

Nifty Future
Pivot: 7706

R1: 7756
S1: 7676

R2:7786 R3: 7836

S2:7627
S3:7596

CHART INTERPRETATION
Nifty spot close at 7714.90 on
Tuesday. nifty spot touch the new level
of 7700 on Monday. Next major
resistance for nifty may be 7950.
Mechanical indicator stochastic RSI
also showing positive trend.

INDEX OUTLOOK
NIFTY FUTURE:- Nifty future closed at 7726.25 on
Tuesday. The Indian equity market ended with modest
gains on Tuesday amid a day of wild swings. The Nifty
was seen gyrating over 80 points while Sensex swung
300 points between its intra-day highs and low .
Todays recovery was led by the realty, power, capital
goods, auto and utilities stocks. Even the Mid-Cap and
Small-Caps also participated in the late recovery.
INTRADAY STRATIGY:- Buy Nifty above 7720 for the tgt
of 7770-7830 with the sl of 7640.

SECTORIAL INDICES

CORPORATE NEWS
Mahindra & Mahindra announced that its Mahindra Agri
Business forayed into dairy business with the launch of
its branded dairy products, 'Saboro.
Canara Bank will raise capital of Rs 3000 crore through
issue of Basel-III compliant Tier II bonds by way of
private placement.
Rajesh Exports has won a Rs. 1,045-crore export order
from Singapore.
Excel Industries will consider a proposal for buyback of
equity shares of the company at its board meeting to be
held on 28 March 2016.

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