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20th April 2016

Nifty tips
NIFTY SPOT: 7914.70
Nifty Future

R1: 7910

R2:7953

R3: 8012

Pivot: 7850

S1: 7808

S2:7748

S3:7705

CHART INTERPRETATION

Nifty spot close at 7914.70 on Monday. nifty

spot break the trade range of 7700-7900
above that 7900 level, nifty may be touch the
new level of 7950-8100. Next major
resistance for nifty may be 7950.
Mechanical indicator stochastic RSI also
showing positive trend.

INDEX OUTLOOK
NIFTY FUTURE: Nifty closed above 7900 as in
investors lapped up Infosys upbeat revenue forecast
and industry beating net profit for January-March.
Sentiments remained upbeat after wholesale prices fell
for a 17th straight month in March, declining by an
annual 0.85 %, driven down by tumbling prices of oil
and manufactured goods. Further, recent rate cut by
the Reserve Bank and hopes of a good monsoon have
strengthened
investors
sentiment.
However,
depreciation in Indian rupee coupled with weak Asian
cues capped the upside gains.
INTRADAY STRATIGY: Buy Nifty above 7930 for the tgt
of 7980-8040 with the sl of 7850 .

SECTORIAL INDICES

CORPORATE NEWS
Wholesale inflation (WPI) for the month of March
came in -0.85% year-on-year, compared to -0.91% in
February.
JK Tyre & Industries has completed the acquisition of
Cavendish Industries Ltd (CIL), which houses three
tyre business undertakings of Birla Tyres at a value of
Rs. 2,200 crore. The plants are located at Laksar
(Haridwar), which manufactures a range of tyres,
tubes and flaps.
Inox Wind Ltd has bagged two orders for a cumulative
capacity of 100 MW from countrys one of the leading
renewable energy independent power producers.

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