Equity Research

Lab:-Daily OutLook

http://equityresearchlab.com

NIFTY DAILY OUTLOOK NIFTY SPOT :

8110.60
Nifty Future

R1: 8157

R2: 8184

R3 :8222

Pivot: 8119

S1: 8092

S2: 8055

S3 :8028

http://equityresearchlab.com

http://equityresearchlab.com

CHART
INTERPRETATION :-

Nifty spot close at 8110.60 on Monday . At higher side, important level 81508250. 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 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 range of
7800-7700.
Mechanical indicator stochastic RSI also showing consolidated trend.

http://equityresearchlab.com

http://equityresearchlab.com

INDEX OUTLOOK:NIFTY FUTURE:Nifty closed at 8130.65 on Monday The Indian stock market closed lower for third
consecutive session. The BSE Sensex fell more than 1% on Monday and the
broader Nifty tumbled below its crucial psychological level of 8,100 on the back of
weak global cues as risk aversion prevailed in risk assets across the globe ahead
of key events like Brexit vote and US Fed meet which will kick off from tomorrow.

INTRADAY STRATIGY:Buy Nifty future above 8150 for the tgt of 8200-8250 sl 8070.

http://equityresearchlab.com

CORPORATE NEWS :Tata Power announced that its subsidiary Tata Power Renewable
Energy Limited (TPREL) will acquire Welspun Renewable Energy
Private Ltd (WREL) in a deal worth close to Rs. 9250 crores.
Shares of Fortis Healthcare tumbled by 2.5% after its subsidiary
Escorts Heart Institute and Research Centre Limited was imposed a
penalty of Rs 503.36 crores by the Delhi government for not complying
with the land allotment lease terms.
A2Z Infrastructure Engineering was awarded a project by the Nepal
Electricity Authority, a subsidiary of the Nepal government for expansion of
the electricity distribution network in the Western region of Nepal. The scrip
of the company rallied up by 6%.
http://equityresearchlab.com

Thank You

http://equityresearchlab.com