DAILY TECHNICAL OUTLOOK

12th -July2016

NIFTY SPOT: 8467.90

NiftyFuture

R1:8516

R2:8542

R3:8589

Pivot:8469

S1:8442

S2:8395

S3:8368


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CHART INTERPRETATION
Nifty future closed above to psychological support at 8450on Monday. Next logical targets for nifty would
be 8500-8650 and breaching of 8320 would force nifty to see levels of 8105-8200. whereas the 83508310 will act as very strong Support levels, if once it go to 8480 then there will higher probability for
nifty to touch 8500-8650 levels.
Mechanical indicator stochastic RSI also showing consolidated trend.
INDEX OUTLOOK
NIFTY FUTURE: The Indian stock market rallied sharply on Monday with the NSE Nifty re-conquering the 8450
mark. The momentum was so strong that not a single sectoral index on the BSE ended in the red. The metal, auto,
banking, finance, industrial, power, oil & gas, pharma and energy stocks were the top gainers. IndusInd Bank closed
marginally lower to Rs.1,123. The bank posted a net profit of Rs.6613.80 million for the quarter ended June 30, 2016
as compared to Rs.5250.40 million for the quarter ended June 30, 2015.
INTRADAY STRATIGY: Buy Nifty future above 8500 for the tgt of 8550-8650 sl 8430.
SECTORIAL INDICES
Key Indices Levels to watch out for the day
INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

27935

27750

27626.69

27450

27290

NIFTY

8565

8500

8467.90

8400

8350

NIFTYBANK

18750

18580

18390.95

18250

18080

NIFTYIT

11320

11200

11045.95

10885

10750

CORPORATE NEWS

Indusind Banks net profit for Q1FY17 rose by 26% to 661.4 Cr from 525 Cr in the corresponding quarter last
fiscal. Net interest Income grew by 38% to 1356.4 Cr for Q1FY17 from 981 Cr in the previous year.

Shares of Dishman Pharmaceuticals and Chemicals went up by 4.50% after the company announced that
inspection at its Bavla Plant in Gujarat had been successfully completed by the US Food & Drug Administration (USFDA).

Shares of Punjab National Bank went up by 9.23% after the RBI lifted a ban on fresh purchase of shares by
Foreign Investors.

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