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NIFTY DAILY OUTLOOK NIFTY SPOT : 8179.95

Nifty Future
Pivot: 8199

R1: 8220 R2:8245 R3: 8266

S1: 8173

S2:8152

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S3:8127

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CHART INTERPRETATION : Nifty spot close at 8179.95 on Wednesday . At higher

side important level 8250-8500. As long as Nifty
futuremanages 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 8000. Further weakness is nifty future is
possible only if Nifty future falls and stays below the
important support of 8000-7950. At lower side nifty
support level may be in the rang of 7800-7700
Mechanical indicator stochastic RSI also showing
consolidated trend
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INDEX OUTLOOK : NIFTY FUTURE: Nifty closed at 8194.55 on Wednesday . It has been a
positive start to the month of June as the Indian stock market closed the
first trading session in the green. The gross domestic product (GDP) number
for January-March quarter was robust however it failed to build the
momentum. Indias GDP grew 7.9% in the January-March quarter of 2015-16,
taking the overall economic growth to a five-year high of 7.6% for the entire
fiscal. Even the country's manufacturing PMI came in at 50.7 as against 50.5
in April indicating an uptick in the manufacturing data. Sentiment was also
buoyed as the production of eight core sectors jumped 8.5% in April on the
back of pick-up in output of refinery products, fertilizers, steel, cement and
electricity.

INTRADAY STRATIGY: Buy Nifty future above 8200 for

the tgt of 8250-8300 sl 8130.
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CORPORATE NEWS: The India-Manufacturing Purchasing Managers Index stood at 50.7 in May 2016
as compared to 50.5 in April 2016. The GDP growth rate for Q4 stood at 7.9% as
compared to 7.2% growth on a YoY basis. The overall GDP growth rate stood at
7.6%.
Aviation Turbine fuel (ATF) prices hiked by 9.52% to Rs 46,729.28 per Kl. ATF
accounts for 40-45% of the total operational expenses incurred by airline companies.
The rise in fuel price led to fall in aviation stocks. Jet Airways fell by 2.19% whereas
Inter-Globe Aviation dropped by 3.79%.
SML Isuzu went up by 6.43% after the company reported a 37.3% rise in May
Sales volumes. On a YoY basis, sales grew from 1405 vehicles in May 2015 to
1929 vehicles in May 2016

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