Equity Research

Lab:-Daily OutLook

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NIFTY DAILY OUTLOOK NIFTY SPOT : 8140.75

Nifty Future

R1: 8206

R2:8254

R3 :8315

Pivot: 8145

S1: 8097

S2: 8036

S3 :7988

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CHART
INTERPRETATION :-

Nifty spot close at 8140.75 on Thursday . 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 8060-7950. At lower side
nifty support level may be in the range of 7800-7700.

Mechanical indicator stochastic RSI also showing consolidated trend.

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INDEX OUTLOOK:NIFTY FUTURE:Nifty closed at 8158.75 on Thursday. After taking a breather in the previous session,
the bears were back on the dalal street. The indices extended decline to hit fresh
intraday low in mid-morning trade. Weakness were seen in Asian stocks after the
Bank of Japan and the US Federal Reserve deciding to keep interest rates on hold
weighed on domestic bourses. On the economy front, India's merchandise exports
fell 0.79% at $22.17 billion in May 2016 over May 2015. Non-petroleum exports rose
1.01% at $20.19 billion in May 2016 over May 2015. Imports fell 13.16% at $28.44
billion in May 2016 over May 2015.

INTRADAY STRATIGY:Buy Nifty future above 8150 for the tgt of 8200-8250 sl 8070.
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CORPORATE NEWS :Bank of Japan kept its policy rates unchanged and refrained from any further
stimulus measure citing uncertainties in emerging economies and commodity
exporting countries, impact of US monetary policy on global financial markets,
Europes debt problem as well as geopolitical risks.
Indias trade deficit in May widened to $6.27 bn as exports shrank 0.79% to
$22.17 bn and imports declined 13.16% to $28.44 bn on YoY basis.
3I Infotech Limited shares jumped 18% to Rs. 5.30 after the company said
corporate debt restructuring panel approved debt restructuring scheme. The
lenders approved converting 40% debt into equity shares.

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