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NIFTY DAILY OUTLOOK NIFTY SPOT:8088.60

Nifty Future
R3: 8363

R1: 8165

R2:8244

Pivot: 8046
S3:7769

S1: 7967

S2:7848

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CHART INTERPRETATION:Nifty closed on at 8088.60 On Friday. Next

logical targets for nifty would be 8050-8000
and breaching of 8000 would force nifty to see
levels of 7900. whereas the 8150-8200 will act
as very strong resistance levels, if once it go to
8200 then there will higher probability for
nifty to touch 8225-8250 levels.
Mechanical indicator stochastic RSI also
showing consolidated trend.
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INDEX OUTLOOK:NIFTY FUTURE: The Indian equity market ended with sharp cuts
on Friday after Britain voted to leave the European Union fuelling a
wave of global uncertainty. Indices opened with a huge gap down
with the NSE Nifty breaching past the 7950 mark while Sensex
tumbled over 1000 points. However, benchmarks began staging a
smart come back in the second half. The pound collapsed to a 31year low and there was pandemonium in the currency markets as
well crude oil too slipped sharply. All the sectoral indices on the BSE
closed in red. Selling pressure was seen in realty, metal, industrial,
capital goods, banking, auto and energy.
INTRADAY STRATIGY: Buy Nifty future above 8300 for the tgt of
8350-8400 sl 8230.
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SECTORIAL INDICES:Key Indices Levels to watch out for the day

INDEX (Spot)

RESISTANCE 2 RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

26772

26585

26248

26060

25723

NIFTY

8244

8165

8046

7967

7848

NIFTYBANK

17764

17564

17244

17058

16724

NIFTYIT

11330

11266

11154

11091

10979

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CORPORATE NEWS:Auto giants having major exposure to European

Union impacted from Brexit. Indian majors made
significant investment in Europe, but investment in
the UK is much more than the rest of Europe
combined.
Shares of KEC International rose by 3.5% after the
company bagged orders of Rs. 1,036 crores. In
transmission and distribution segment, they secured
orders worth Rs. 666 crores from the Middle East and
Americas regions. Orders worth Rs. 317 crores from
Indian Railways and Rs. 53 crores in the Power and
Telecom Cables segment were also secured.
Mahanagar Telephone Nigam Limited (MTNL) shares
rose by 4.3%http://equityresearchlab.com
after the company announced that it
will submit its revival plan to the Department of

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