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NIFTY OUTLOOK
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REPORT
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31 May 2017
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 31st May 2017

NIFTY

NIFTY SPOT : R1:9630 R2:9675 R3:9699

PIVOT : 9611 S1:9590 S2:9560 S3:9539

NIFTY DAILY CHART

NIFTY OUTLOOK
Nifty is likely to open in a flat note. Momentum indicators are indicating towards a volatile market today. Nifty is
trading near its all time high. Positional traders are advised to keep their stop loss at 9500 for longs while for
shorts it should be placed at 9650.Intraday traders are advised to adopt buy on dips strategy today. It is advised
to make long position in nifty around 9560 with a stop loss of 9525 for the target of 9600.

Strategy: long Nifty around 9560 with a stop loss of 9525 for the target of 9600.

Name Current Value Change % Chg Open High Low

FTSE 100 (May 30) 7,526.51 -21.12 -0.28 7,547.63 7,547.65 7,497.07
CAC 40 (May 30) 5,305.94 -26.53 -0.5 5,291.08 5,309.36 5,273.56
DAX (May 30) 12,598.68 -30.27 -0.24 12,583.82 12,648.10 12,567.22
Nikkei 225 (May
19,648.23 -29.62 -0.15 19,630.33 19,673.51 19,589.25
31)
Straits Times (May
3,212.23 7.44 0.23 3,202.12 3,214.57 3,199.83
31)
Hang Seng (May
25,664.75 -36.88 -0.14 25,706.45 25,817.95 25,664.75
31)

Taiwan Weighted 10,067.51 -34.44 -0.34 10,095.95 10,116.13 10,061.30

(May 31)
SGX Nifty (May
9,615.00 -5 -0.05 9,615.00 9,634.50 9,608.50
31)

WWW.EQUITYRESEARCHLAB.COM
 31st May 2017

CORPORATE
MSCI Index changesNEWS
-Indias weight will increase the most, will increase to 10.5 percent from 10.2 percent
-ICICI Banks weight will increase to 0.25 percent from 0.13 percent
-IOC & REC included while Divis Labs deleted from Large Cap Index
-15 stocks added while 11 deleted in Small Cap Index
-Avanti Feeds, Birla Corp, BSE, Divis, Dr Lal PathLabs added in Small Cap Index
-Endurance, Future Life, Indiabulls Ventures added in Small Cap Index
-L&T Infotech, Laurus Labs, Nalco, Navneet & Prestige Estates added in Small Cap Index
-Astrazeneca, CCL Products, Coffee Day deleted from Small Cap Index
-Cyient, Fortis Healthcare, Indoco Remedies, Ingersoll, Kitex deleted from Small Cap Index

-Sun TV, Texmaco Rail & Unitech deleted from Small Cap Index

Other stocks and sectors that are in news today:

-Glenmark gets US FDA nod for ADHD drug, Atomoxetine capsules
-Berger Paints has approved purchase of 1,03,03,580 equity shares of Saboo Hesse Wood Coatings
-ICRA revises ratings for OBC's bonds to A+ from AA-
-Rolta India intends to cancel the listing and trading of its GDRs at London Stock Exchange effective as of June 30, 2017
-Fitch downgrades IDBI Bank's long term IDR to BB+ from BBB-
-Mcleod Russel board decided to initiate discussion with Eveready Industries India for participating in a joint venture for
development of packet tea business through a separate entity
-Gujarat Gas has entered into a non-binding MoU with Petronet LNG for exploring - dispensing and marketing of LNG
including the L-CNG at GGL CNG stations
-Lyka Labs says filing of Documents of merger of Lyka Healthcare (wholly owned subsidiary) with Lyka Labs w.e.f. April 1,
2017
-Jindal Poly Films in talks to acquire European operations of DuPont Teijin Films: ET
-United Spirits to sell properties belonging to Vijay Mallya: ET
-HPCL, IOC, BPCL in focus - Petroleum Ministry hires Deloitte for oil PSU oil merger: BS
-Promoters might lose control of Amtek Auto: BS
-Max Financial/ HDFC Life's to approach IRDAI with new merger plan
-IT employee union files complaint against Tech Mahindra
-Cadila Healthcare plans Rs 1,000 crore QIP-Piramal Enterprises in focus - Piramal structured finance arm invests Rs 565
crore in two auto component firms

WWW.EQUITYRESEARCHLAB.COM
 31st May 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Manish Bimal Sr. Research Analyst Manish.bimal@equityresearchlab.co.in

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