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NIFTY OUTLOOK
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REPORT
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13 January 2017
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Prepared by: Meenakshi Pal
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NIFTY FUTURE
NIFTY FUTURE :
PIVOT :8409
WWW.EQUITYRESEARCHLAB.COM
R1:8432
S1:8394
R2:8447
S2:8371
R3:8461
S3:8356
INDEX OUTLOOK
NIFTY FUTURE: Equity benchmarks extended gains for 3rd consecutive session Thursday, with the
Sensex closing at two-month high after stable earnings from banks (despite demonetisation) and China's
decision to cut steel production. Globally investors will closely watch US President-elect Donald
Trump's news conference later in the day for any clues to his policies on tax, fiscal spending,
international trade and currencies. Nifty moved closer to 8400 level, up 92.05 points or 1.11 %at
8380.65. Nifty managed to close above its 100 days EMA level of 8300 and hence we may expect
some more upside from here. Going forward, if Nifty breaks above 8380 on closing basis we hold
8460 followed by 8510 as the near-term resistances. If 8300 is broken on the downside we hold
8275-8230 as the supports.
STRATEGY: SELL Nifty Future above 8461 for the target of 8400 with the stop loss of 8481
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SECTORAL INDICES
INDEX (Spot)
SENSEX
NIFTY
NIFTYBANK
NIFTYIT
SUPPORT 2
26840
8290
18540
10150
CORPORATE NEWS
TCS reported Total Revenue at Rs. 29,735 Cr, up by 8.7% on a YoY basis, against Rs. 27,364 Cr in the
corresponding quarter last year. Net Profit increased by 10.9% to Rs. 6,778 Cr, against Rs. 6,110 Cr in the
corresponding quarter last year. Operating Income stood at Rs. 7,733 Cr, and margins remained stable at 26%.
Business from markets like Latin America and India clocked double digit growth of 12.5% and 10.3%
sequentially, while North America grew 2.2 % and UK showed 1.7% growth.
Bajaj Corp reported a 17.2% rise in Net Profit in Q3FY17 to Rs. 57.8 Cr, as against Rs. 49.3 Cr in the
corresponding quarter last year. On the contrary, Net Sales were down by 4.8% at Rs. 186.4 Cr against Rs.
195.7 Cr previously.
MMTCs Joint Venture with Orissa Government - Neelachal Ispat Nigam signed a mining lease agreement for
iron ore, which is its basic raw material for operations. Shares closed up 3.3%.
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Designation
E-mail ID
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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