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16th June 2016

Nifty Tips
NIFTY SPOT: 8206.60
Nifty Future
Pivot: 8186

R1: 8267
S1: 8140

R2:8313
S2:8058

R3: 8394
S3:8012

CHART INTERPRETATION
Nifty spot close at 8206.60 on Wednesday . At higher
side, important level 8200-8250. 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 80607950. 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 8221.35 on Wednesday. After
falling for four consecutive trading sessions, the Indian equity
markets finally made a strong comeback amid positive vibes
coming from the Asian and European markets. The market
rallied after Union Cabinet approved new civil aviation policy
and merger of 5 associates with SBI. The buying was so fierce
that not a single sectoral index on the BSE ended with losses;
power, capital goods, banking, oil and gas, utilities, industrial
and FMCG stocks ended with the top gainers. Even the mid-cap
and the small-cap stocks participated in todays rally. Going
ahead, all eyes would be on the verdict of the two-day FOMC
meet and the BOJ meet later today.
INTRADAY STRATIGY:- Buy Nifty future above 8230 for the tgt
of 8280-8320 sl 8150.

SECTORIAL INDICES

CORPORATE NEWS
The union cabinet approved the merger of State Bank
of India (SBI) with its associate banks. Shares of State
Bank of Mysore and State Bank of Bikaner Jaipur rose
by 20%. State Bank of Travancore rose by 19.99%,
whereas SBI shares surged by 3.6%.
Airline Stocks Interglobe Aviation, Spicejet & Jet
Airways showed an uptick after the union cabinet
approved the long awaited Civil Aviation Policy.
Shares of Sintex industries went up by 5.86% after the
National Stock Exchange (NSE) decided to include the
stock in the Futures and Options segment.

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