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NIFTY OUTLOOK
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REPORT
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12 August 2016
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Prepared by: Meenakshi Pal
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12th August 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8602

R1:8639
S1:8574

R2:8667
S2:8537

R3:8704
S3:8509

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: Nifty ended in green on Thursday on account of buying in frontline blue chip counters.
Sensex closed 84.72 points up , while Nifty settled 16.85 points up . Midcap index ended 0.03% up, while
Smallcap index ended 0.02% lower. Escorts shares soared as much as 19.99 % after the company announced the
divestment of its OEM and export business of Auto Product division to Badve Engineering Ltd in an all cash deal
as a part of the planned strategic reorientation of the business to focus on core verticals in the agri-machinery,
construction equipment and railway equipment. Escorts auto products business caters to OEMs and replacement
market globally for all vehicle including commercial vehicles, and multi-utility vehicles.

STRATEGY: Sell Nifty Future Below 8600 for the target of 8550 -8500 with the stop loss of 8670.
WWW.EQUITYRESEARCHLAB.CO.IN

12th 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

28200

28020

27859.60

27700

27560

NIFTY

8700

8640

8592.15

8540

8500

NIFTYBANK

19020

18850

18640.40

18440

18280

NIFTYIT

11420

11310

11222.20

11100

11000

CORPORATE NEWS

Bank of Baroda reported a 60% yoy drop in Net profit to Rs. 423.6 Cr in Q1 as compared to Rs. 1,052.1 Cr in
the same period last fiscal. Gross NPAs grew to 11.15% from 9.99% and Net NPAs increased to 5.73% from
5.06% sequentially. Provisions for NPAs increased significantly to Rs. 2004 from 599.7 Cr.

Gujarat Pipavav Port Limited (GPPL) reported a 60% upside in Net profit to Rs. 59.7 Cr for Q1 as compared to
Rs. 37.2 Cr for the same period last fiscal. Total Income from operations declined to Rs. 167.2 Cr from Rs. 184.6
Cr. Expenses during the quarter dropped to Rs. 92 Cr from Rs. 110 Cr previously.

Tyre-maker MRF reported lukewarm numbers as Total Income for the quarter stayed flat at Rs. 3,481.9 Cr
from Rs 3477.1 Cr previously. Net profit was up by merely 2.2% to Rs. 490.9 Cr from Rs. 479.5 Cr previously.

WWW.EQUITYRESEARCHLAB.CO.IN

12th 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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