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30th May 2016

Nifty Tips
NIFTY SPOT: 8156.65
Nifty Future R1: 8207
R2:8241 R3: 8301
Pivot: 8147 S1: 8112 S2:8052
S3:8017

CHART INTERPRETATION

Nifty spot close at 8156.65 on Friday . At

higher side, important level 7980-8000. 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 7850. Further weakness is
nifty future is possible only if Nifty future falls
and stays below the important support of
7850-7800. At lower side nifty support level
may be in the range of 7750-7650.

Mechanical indicator stochastic

showing consolidated trend.

RSI

also

INDEX OUTLOOK

NIFTY FUTURE:- Nifty closed at 8172.45 on Friday .

Global markets had one of their best weeks in recent
months as most indices ended firmly in the positive
zone. New US single-family home sales surged to a
more than eight- year high in April and prices hit a
record high, offering further evidence of a pick-up in
economic growth. Closer home, the Sensex notched
smart gains of around 5 per cent for the week on
strong buying in infrastructure, banks and other select
stocks. L&T came out with stellar set of numbers
which beat expectations. SBI results were also better.
Signs of good monsoons and expectations of
corporate profit growth rebounding in the coming
quarters propelled markets to higher levels.
INTRADAY STRATIGY:- Buy Nifty future above 8200 for
the tgt of 8250-8300 sl 8130.

 SECTORIAL INDICES

CORPORATE NEWS

Lupin gets clean EIR (Establishment Inspection Report)

from US FDA for its Mandideep facility which means that
the facility can operate freely. Earlier US FDA raised
some observations on Lupins Mandideep facility which
is significant contributor to its total revenue.
Foreign Direct Investment in India surged 16.5% to
$2.46 billion in March against $2.11 billion in a year ago
period. For the entire financial year 2015-16, FDI stood
at $40 billion compared to $30.93 in FY15 as per DIPP
(Department of Industrial Policy and Promotion).
SBI reported a 66.32% drop in net profit for Q4. The net
profit stood at Rs. 1,260 crores compared to Rs. 3,742 cr
in the same quarter last year. Gross NPAs increased by
140 basis points sequentially to 6.5% and Net NPAs
increased by 92 basis points to 3.81%. Whereas, the net
interest income (NII) went up by 3.9% in the fourth
quarter.

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