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NIFTY OUTLOOK
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REPORT
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09 August 2016
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Prepared by: Meenakshi Pal
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09th August 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8742

R1:8759
S1:8725

R2:8776
S2:8709

R3:8792
S3:8692

NIFTY DAILY CHART

CHART INTERPRETATION
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 8750
and8900thereafter.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK

NIFTY FUTURE: The Indian equity market rallied for third consecutive session on Monday ahead of
RBI policy review on Tuesday. The NSE Nifty index rose to a 15-1/2 month high thanks to positive cues
from the Asian and the European markets. The Sensex hit its highest level since 1 August 2016, while
Nifty hit its highest level since 16 April 2015.Oil & Gas, energy, auto, IT, consumer durables and metal
stocks led from the front. Only telecom index was among the major loser.
STRATEGY: Buy Nifty Future above 8730 for the target of 8780 -8830 with the stop loss of 8650.

WWW.EQUITYRESEARCHLAB.CO.IN

09th August 2016

SECTORAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2 RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

28520

28350

28182.57

28000

27800

NIFTY

8820

8760

8711.35

8665

8600

NIFTYBANK

19250

19110

18939.45

18780

18600

NIFTYIT

11420

11310

11197.20

11100

11000

CORPORATE NEWS

Britannia reported a 13.1% increase (YoY) in Net profit to Rs. 219.1 Cr for Q1FY17 from Rs. 193.6
Cr in Q1FY16. Total Income from operations rose by 9% to Rs. 2,196.6 Cr from Rs. 2,013.9 Cr.

Hero Motocorp reported an 18% increase (YoY) in Net profit to Rs. 883.1 Cr from Rs 747.5 Cr.
Revenue increased by 7.8% to Rs. 8,131 Cr from Rs 7,539.8 Cr in the corresponding quarter last fiscal.
Operating profit (EBITDA) increased by 18% (YoY).

Shares of Wockhardt nosedived by 10% after the US FDA banned product imports from Wockhardts
Ankleshwar plant for violation of manufacturing norms. This is their third plant to receive an import
alert from the US FDA.

WWW.EQUITYRESEARCHLAB.CO.IN

09th August 2016

ERL RESEARCH TEAM

Member Name

Designation

E-mail ID

Mr. Tuhinanshu Jain

Mr. Yogesh Subnani
Miss. Meenakshi Pal

Research Head
Sr. Research Analyst
Sr. Research Analyst

Tuhinanshu.jain@equityresearchlab.co.in
Yogesh.subnani@equityresearchlab.co.in
Meenakshi.pal@equityresearchlab.co.in

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