RESEARCH BHASKAR :-


NIFTY SPOT :   R1:9441   R2:9469  R3:9523


PIVOT : 9415   S1:9361    S2:9307    S3:9253


CHART INTERPRETATION :-  

Nifty is trading near its all time high of 9464.Nifty is likely to open in a positive note with around 30 points. Nifty is in strong bull trend. For positional traders, it is advised to adopt buy on dips strategy with a stop loss of 9350 while for intraday trader it is advised ot buy nifty around its Pivot point which is at 9415 with a stop loss of 9380. Momentum indicators like RSI, MACD are waving their flag in favour of bulls.

RESEARCH BHASKAR

INDEX OUTLOOK :-    

Nifty Future :-

The Nifty is likely to open flat to positive on the back of string Asian cues. It’s important to sustain above 9380 to move upwards. Buy Nifty around 9420 with a stop loss of 9380 for the target of 9500Nifty Bank Future: Profit booking was seen after hitting new life time However; private sector banks like Axis and HDFC Bank have seen a long accumulation pattern. Looking at the build-up in 23000 strikes, we feel the index is well placed to test highest Call base. Buy Nifty Bank in the range of 22600-22650, targets: 22750-22850, stop loss: 22500

SECTORIAL INDICES :-

RESEARCH BHASKAR

CORPORATE NEWS :-     

Godrej Industries in focus: Godrej Agrovet directors approve IPO Premier Explosives' preferential issue of total 1,38,000 warrants and 6,13,000 equity shares to promoters & non promoters United Bank of India revised marginal cost of funds based lending rate (MCLR)Corporation Bank fixed marginal cost of funds based lending rate GMR Infra to sell stakes in Indonesian coal mining entities: Mint Tata Metaliks shuts down plant -Power Grid to offer masala bonds, to set up solar park in Gujara Welspun Enterprises in focus: CARE upgrades rating to A1 Swaraj Auto board approves new business plan to set up seat frame manufacturing unit Vishnu Chemicals' shares pledged by promoters Karnataka Bank promoted Shri Raghavendra Bhat M as the new chief general manager of the bank Hindustan Copper board meeting on May 17 to consider fund raising plans Coffee Day to acquire majority equity stake in a company in the express logistics business with annual revenue of Rs 40 crore Ferro Alloys setting up additional 27MVA Furnace TTK Prestige set to break health insurance JV with Cigna: ETPiramal Enterprises in focus: Lodha gets Rs 1,800 crore from Piramal arm: ToI Adani Enterprises' renewable energy arm aims to raise USD 200 million: Mint InterGlobe Aviation may tap former staff for regional plans: Mint TeamLease sees decline in hiring over next 6 months JSW Energy extends deadline to close Jaypee Power deal to December.

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