Equity Research

Lab:-Daily OutLook

http://equityresearchlab.com

NIFTY DAILY OUTLOOK NIFTY SPOT :

8238.50
Nifty Future
R2:8362

R1: 8307
R3 :8463

Pivot: 8206
S1: 8151
8050
S3 :7995

http://equityresearchlab.com

S2:

http://equityresearchlab.com

CHART INTERPRETATION:Nifty closed on at 8238.50 On Monday. Bulls and bears have

been indecisive. Recovery may be continuing above 8200 levels
else selling pressure may be seen. On upside, Nifty has important
resistance at 8250 levels. On downside, support is at 8050 levels.

MechanicalindicatorstochasticRSIalsoshowingconsolidatedtrend .

http://equityresearchlab.com

INDEX
OUTLOOK:-

NIFTY FUTURE: Nifty closed at 8251.90 on Monday. The Indian

equity market opened in red following Reserve Bank of India
Governor Raghuram Rajan saying no to a second term. Sentiment
remained upbeat after the finance ministry expects the countrys
GDP growth to climb to 8%, according to reports. Economic affairs
secretary Shaktikanta Das expects that the likely passage of Goods
and Services Tax (GST) Bill in Parliament would add to the business
sentiment. On the economy front, the Goverment has approved
74% FDI in brownfield pharma under automatic route, 100% in
scheduled airlines & defence sectors
INTRADAY STRATIGY: Buy Nifty future above 8250 for the tgt of
8300-8350 sl 8170.

http://equityresearchlab.com

CORPORATE
NEWS:The government has allowed 100% FDI in aviation for scheduled carriers.
Also, 100% FDI has been approved in greenfield pharma projects and 74%
in brownfield projects. Changes in FDI policy were welcomed by the
Aviation and Pharma industry and stocks surged 5-10%.
Eros International announced a television syndication deal for their new
and catalogue films with Zee network. The films comprise a number of
catalogue films from Eros Internationals vast movie library and also presales for a few forthcoming films. The deal will be a win-win for both the
companies as Eros International association with Zee, gives it bigger
platform to reach viewers. On the other hand, Zee will get access to Eross
rich movie library.
Suzlon has entered into a pact with CLP India for a 100 mw solar project
at Veltoor in Telangana. The project will start in May 17 and will be a mix
of 80:20 debt equity. CLP India, a subsidiary of Hong Kong based power
company CLP, has 49% stake in SE Solar.
http://equityresearchlab.com

SECTORIAL INDICES:Key Indices Levels to watch out for the day

INDEX (Spot)

RESISTANCE 2 RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

27220

27050

26866.92

26690

26500

NIFTY

8350

8300

8238.50

8180

8120

NIFTYBANK

18000

17840

17718.60

17540

17360

NIFTYIT

11740

11620

11506.60

11390

11275

http://equityresearchlab.com

http://equityresearchlab.com