qwertyuiopasdfghjklzxcvbnmqwerty

uiopasdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasdfghjklzxc
vbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
NIFTY OUTLOOK
hjklzxcvbnmqwertyuiopasdfghjklzxc
REPORT
vbnmqwertyuiopasdfghjklzxcvbnmq
03 October 2016
wertyuiopasdfghjklzxcvbnmqwertyui
Prepared by: Meenakshi Pal
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmrtyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyuiopas
rd

03rd October 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8634

R1:8675
S1:8599

R2:8710
S2:8558

R3:8751
S3:8523

NIFTY DAILY CHART

CHART INTERPRETATION
MACD and Price ROC are both positive and continue in Buy mode. RSI (55) suggests bearish
momentum. This week, both the indices remained comfortably above the short term average of 20dma
Nifty 8740, medium term average of 50dma Nifty 8654 and even the long term average of 200dma
Nifty 8250. Thus the trend in the short term, medium term and even the long term timeframe continues
to remain Bullish. Key indices rose on bargain hunting after suffering steep losses yesterday, 29
September 2016 triggered by flare up in India-Pakistan tension after Indian Army in a press conference
yesterday, 29 September 2016 revealed that it conducted surgical strikes against terror launch pads
inside Pakistan occupied Kashmir. However, gains were capped by weakness in global stocks.
INDEX OUTLOOK
NIFTY FUTURE: Technically, Indian Stock Market is still in negative zone but market would see a bounce

at lower levels near support in reaction to yesterdays downfall. FIIs and DIIs have seen huge buying in
yesterdays downfall and that suggests that this downfall was temporary in nature. Nifty is lying near
its major support level of 8500. 8500 is a make or break level on closing basis. If Nifty closes below
those levels then a breakdown would be seen in the market and we can even see levels of 8200-80007700 in days to come. But traders can take a chance here. Traders can go long near 8550 levels for
Nifty with strict stop loss of 8500 on closing basis. There are strong chances for Market to see a bounce
near those levels. So, traders can go long until Nifty holds 8500 and short once Nifty closes below 8500
levels. If Nifty holds 8500 for next couple of days then we would see a sharp positive rally. The major
domestic event in the upcoming week is the Reserve Bank of India's (RBI) fourth bi-monthly monetary
policy meeting scheduled on Tuesday, 4 October 2016
WWW.EQUITYRESEARCHLAB.COM
STRATEGY: Sell Nifty Future below 8640 for the target of 8590 -8540 with the stop loss of 8720.

03rd October 2016

SECTORAL INDICES

INDEX (Spot)

Key Indices Levels to watch out for the day

RESISTANCE RESISTANCE
LTP
SUPPORT 1
2
1

SUPPORT 2

SENSEX

28387

28270

28085

27967

27783

NIFTY

8753

8715

8664

8627

8538

NIFTYBANK

19209

19096

18912

18800

18615

NIFTYIT

11358

11266

11209

11117

11060

CORPORATE NEWS
Supreme Court in its latest ruling has lifted the ban on diesel vehicles with engines larger than 2,000 cc
in the Delhi NCR region. The concession has been made against the clause of paying a 1% cess, which
will be paid to the Delhi Pollution Control Board. The government authority will then utilise this
money to find ways to lower pollution in Delhi. The payment will have to be made by the carmaker
before the vehicle can be registered and hence the payment will be made on the ex-showroom prices.
In case of non-payment, the vehicle will not be registered by the concerned transport authority. This
news comes as a great relief for companies such as Mercedes-Benz, Tata Motors, Ford, Chevrolet and
Toyota.
Sun Pharmaceutical Industries Ltd has announced the following consolidated results for the
quarter ended June 30, 2016.The company has posted a net profit after taxes, minority interest and
share of profit of associates and joint ventures of Rs.2033.71 crore for the quarter ended June 30,
2016 as compared to Rs.555.90 crore for the quarter ended June 30, 2015. Total Income has
increased from Rs.6925.60 crore for the quarter ended June 30, 2015 to Rs.8400.09 crore for the
quarter ended June 30, 2016.
State Bank of India has announced the following results for the quarter ended June 30, 2016
The
Unaudited
Standalone
results
for
the
Quarter
ended
June
30,
2016
The Bank has posted a net profit of Rs. 25209.60 million for the quarter ended June 30, 2016 as
compared to Rs. 36924.30 million for the quarter ended June 30, 2015. Total Income has increased
from Rs. 447308.70 million for the quarter ended June 30, 2015 to Rs. 489286.00 million for the
quarter ended June 30, 2016.

WWW.EQUITYRESEARCHLAB.COM

03rd October 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

DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be
reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have
the right to choose the product/s that suits them the most. Investment in Stocks has its own risks.
Sincere efforts have been made to present the right investment perspective. The information contained
herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch
for the accuracy or the completeness thereof. This material is for personal information and we are not
responsible for any loss incurred based upon it & takes no responsibility whatsoever for any financial
profit s or loss which may arise from the recommendations above. The stock price projections shown
are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice.
Equity Research Lab does not purport to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Equity Research Lab might be holding positions in the
stocks recommended. It is understood that anyone who is browsing through the site has done so at his
free will and does not read any views expressed as a recommendation for which either the site or its
owners or anyone can be held responsible for. Any surfing and reading of the information is the
acceptance of this disclaimer.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our
calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly
or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of
the information is the acceptance of this disclaimer.
ALL RIGHTS RESERVED.

WWW.EQUITYRESEARCHLAB.COM