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17th june2016
Nifty Tips
NIFTY SPOT: 8206.60
Nifty Future

R1:8206

R2:8254

R3: 8315

Pivot: 8145

S1: 8097

S2:8036

S3:7988

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.

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 midmorning 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.

SECTORIAL INDICES

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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