DAILY TECHNICAL OUTLOOK

27th -July- 2016

NIFTY SPOT: 8590.65

Nifty Future

R1: 8637

R2:8682

R3: 8713

Pivot: 8607

S1: 8562

S2:8531

S3:8486

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CHART INTERPRETATION
If upcoming results support then this positive movement would continue till 8700 levels for Nifty .The only strategy
for the traders should be to hold long positions or initiate fresh long positions at every dip in the market. and
Expectations of a good monsoon have once again reinforced the confidence among market participants that the
growth may come back on a good note, timely onset of the monsoons will be a positive for the markets. A strong
break below 8500 will increase the downside pressure and drag it to 8400/8300. Traders can go short on a break
below 8500.On the other hand, a decisive break above 8635 will ease the downside pressure and take the index
futures higher to 8650 and 8700 thereafter.

Mechanical indicator stochastic RSI also showing consolidated trend.

INDEX OUTLOOK
NIFTY FUTURE: The Nifty opened and traded flat to negative, while the Sensex opened and tarded flat to
positive on mixed global cues. The BSE Sensex opened 26.03 points up at 28,121.37, while NSE Nifty index
opened 1.90 points down at 8,633.75. The INDIA VIX is up 1.03% at 15.8800. The BSE Mid-cap Index is
trading up 0.46% at 12,457, whereas BSE Small-cap Index is trading up 0.37% at 12,279.
STRATIGY: Buy Nifty Future above 8600 for the tgt of 8650 -8700 with the sl of 8530.
SECTORIAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28350

28150

27976.52

27790

27625

NIFTY

8700

8645

8590.65

8530

8475

NIFTYBANK

19175

19050

18860.85

18690

18500

NIFTYIT

11150

11000

10877.65

10770

10650

CORPORATE NEWS

Dr. Reddys Labs reported a 75% drop in its net profit. Net profit fell from Rs 626 Cr to Rs 153 Cr for the current quarter.
Revenue income declined by 14.2% to Rs 3,222 Cr on account of loss of business in Venezuela, and a drop in the volume
sales in USA. Shares of the company fell by 4.6%.

TVS Motors reported a 21% rise (YoY) in PAT from Rs 100.08 Cr to Rs 121.25 Cr for Q1FY 2017. Revenue sales grew by 12%
whereas sales volume grew by 11%. Exports grew by 15.3% to 7 lakh units from 6.1 lakh units.

Maruti Suzuki reported a 23% rise in net profit for the first quarter to Rs 1.486 Cr from Rs 1,208 Cr. Net sales grew by
12.1% in monetary terms and 2.1% growth was seen in volume terms. Lower material costs and improved operational
income contributed to the profit increment.

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