26th Feb. 2016

Nifty Tips

NIFTY SPOT: 6970.60      Nifty Future    R1: 7011   R2: 7055    R3: 7080      Pivot: 6986      S1: 6943    S2:6917     S3: 6874

CHART INTERPRETATION

Nifty spot close at 6970.60 on Thursday.

Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK

NIFTY FUTURE:- Nifty future closed at 6968.50 on Thursday. The Indian stock market fell for the third straight day after the Rail Budget 2016 failed to boost mar-ket sentiments. Selling pressure during F&O expiry saw the Nifty close at fresh 52-week low. The decline was led by the power, realty, capital goods, banking and utilities stocks.

INTRADAY STRATIGY:-  Sell Nifty below the 6960 for the tgt of 6900-6850 with the sl of 7030.

SECTORIAL INDICES

CORPORATE NEWSRailway Budget: The Union Railway Budget 2016-17 focused

on capacity creation in the rail sector, with an increased outlay of about Rs. 1.21 lakh crore, and on completion of the ongoing projects rather than announcing new ones. Extending

2015's measure, passenger fares Remain the same. Mr. Suresh

Prabhu's announcements included India's first rail auto hub, boost to e-catering, connectivity to North-East and Wi-Fi in railway Stations.

Coal India rose 1.7% to Rs 300 after railway minister Suresh Prabhu in the Railway Budget 2016-17, kept freight rates unchanged and also announced review of tariff policy.

Reliance Capital said its board approved the transfer of its commercial finance division into a separate wholly-owned subsidiary.

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