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18th may 2016

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th

May 2016

Nifty Tips
NIFTY SPOT: 7731.05
Nifty Future R1: 7795 R2:7845
R3: 7874
Pivot: 7765 S1: 7715 S2:7686
S3:7636

CHART INTERPRETATION

Nifty spot close at 7731.05 on Monday . At higher side,

important level 7800-7850. As long as Nifty future
manages to sustain above this level on intraday
declines, the trend will be strong and nifty future will try
touch further higher levels from this level. At lower side,
support near 7700. Further weakness is nifty future is
possible only if Nifty future falls and stays below the
important support of 7700-7670. At lower side nifty
support level may be in the range of 7750-7650.

Mechanical indicator stochastic RSI also showing

consolidated trend.

INDEX OUTLOOK

NIFTY FUTURE: Nifty closed at 7744.85 on

Monday. Nifty ending below 7750 amid
volatility, tracking weakness in global peers,
due to selling in technology, oil, pharma and
select banking & financial stocks. The
market remained choppy after rising 180
points on the Sensex in early trade. The
market is keenly waiting for monsoon and
June Fed meet as these events may decide
trend in short-to-medium term.

INTRADAY STRATIGY: Buy Nifty future above

7750 for the tgt of 7800-7850 sl 7670.

SECTORIAL INDICES

CORPORATE NEWS
Britannias

stock took a nosedive as the company announced its

Quarterly results that turned out to be lower than the street
estimates. The company reported Net profit growth of 13.7% at
Rs. 190.2 cr while total revenue increased by 7.2% at Rs. 2211.4
cr on YoY basis.

Dish

TVs Net profit increased 14 fold at Rs. 482.8 cr due to a

tax write back of Rs. 402.9 cr. Total income surged 9.5% to Rs.
799.3 cr. The company disappointed on operating margin
growth and margin which were below estimates.

Shares

of MCX (Multi Commodity Exchange of India) rallied by

more than 6% as RBI allowed overseas investors to trade equity
shares of MCX. Foreign shareholding in the bourse had fallen
below the prescribed threshold limit, following which RBI took
this step.

Thank you

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