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15th June 2016

Nifty Tips
NIFTY SPOT: 8110.60
Nifty Future
Pivot: 8111

R1: 8147
S1: 8084

R2:8174
S2:8049

R3: 8209
S3:8022

CHART INTERPRETATION
Nifty spot close at 8110.60 on Tuesday. At higher side,
important level 8150-8250. 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.

INDEX OUTLOOK
NIFTY FUTURE:- Nifty closed at 8130.65 on Monday The Indian equity
market ended on a flat note on Tuesday amid a volatile trading
session. After opening with a positive bias, indices slipped gradually
through out the day led by selling pressure in the energy, IT, oil & gas
and telecom stocks. However, sudden bout of buying in the realty,
metals, PSU banks and FMCG stocks in late trades aided the Nifty to
bounce back sharply and close above the 8100 mark. The BSE Midcap
and Smallcap index closed marginally higher too. Market participants
remained cautious ahead of the US Federal Reserve's two-day meeting
that begins later in the day and worries over a referendum in Britain
next week about whether to exit the European Union.
INTRADAY STRATIGY:- Buy Nifty future above 8150 for the tgt of
8200-8250 sl 8070.

SECTORIAL INDICES

CORPORATE NEWS
The Wholesale Price Index (WPI) for May increased at 0.79% after
rising 0.34% in April and falling by 2.20% in May 2015. This is the
second straight increase in WPI which came after, a seventeen
month falling spree.
Shares of Deepak Fertilizers and Petrochemicals rose by 4.5%
after the Ministry of Petroleum and Chemical agreed to release Rs
485 crores of outstanding subsidy money. The claims were due to
the company in accordance with the Nutrient Based Subsidy (NBS).
Shares of Public Sector Banks rallied up to 8% after the RBI
announced a scheme for sustainable structuring of stressed assets.
The scheme would allow the banks to convert up to half the loans
taken by corporate borrowers into equities and take control of the
company.

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