Nifty report daily out look 4 july equity research lab
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http://equityresearchlab.com FOR MORE Details CONTACT US ON:- 8370098946 Equity Research Lab:-Daily OutLook DATE:- 4 th JUly
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Nifty has closed firmly above 8,300 levels which signal continuation in the uptrend. On the domestic front inflation will be a key data to watch for, the expectation is higher at 5.9 per cent vs. 5.8 per cent last month. The pickup in government spending, implementation of 7th pay commission and a slew of new reforms have increased hope for passage of GST bill. Domestic consumer & consumer discretionary will continue to get positive buying.
Transcript of Nifty report daily out look 4 july equity research lab
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FOR MORE Details CONTACT US ON:-8370098946
Equity Research Lab:-Daily OutLook
DATE:- 4th JUly
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NIFTY DAILY OUTLOOK NIFTY SPOT:- 8328.35
Nifty Future R1: 8385 R2:8415 R3: 8453
Pivot: 8347 S1: 8317 S2:8279 S3:8249
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CHART INTERPRETATION :-
•Nifty has closed firmly above 8,300 levels which signal continuation in the uptrend. On the domestic front inflation will be a key data to watch for, the expectation is higher at 5.9 per cent vs. 5.8 per cent last month. The pickup in government spending, implementation of 7th pay commission and a slew of new reforms have increased hope for passage of GST bill. Domestic consumer & consumer discretionary will continue to get positive buying.
• Mechanical indicator stochastic RSI also showing consolidated trend.
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INDEX OUTLOOK :-•NIFTY FUTURE: Stock market in India ended in the green for fifth consecutive trading session. Healthy macro-economic data and positive global cues lifted the indices to close higher on Friday. Healthy buying was witnessed in capital goods, pharma and oil & gas stocks. Even, mid-cap and small-cap stocks participated in the rally. The manufacturing Purchasing Managers’ Index (PMI) data released on Friday showed a rise of 51.7% in June from May’s 50.7%. •INTRADAY STRATIGY: Buy Nifty future above 8350 for the tgt of 8400-8450 sl 8270.
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SECTORIAL INDICES :-
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CORPORATE NEWS :-
•Auto giants having major exposure to European Union impacted from Brexit. Indian majors made significant investment in Europe, but investment in the UK is much more than the rest of Europe combined. • Shares of KEC International rose by 3.5% after the company bagged orders of Rs. 1,036 crores. In transmission and distribution segment, they secured orders worth Rs. 666 crores from the Middle East and Americas regions. Orders worth Rs. 317 crores from Indian Railways and Rs. 53 crores in the Power and Telecom Cables segment were also secured. •Mahanagar Telephone Nigam Limited (MTNL) shares rose by 4.3% after the company announced that it will submit its revival plan to the Department of Telecommunications (DoT). The plan intends to take the loss making telecom firm out of the red zone.
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