Monday 29 May 2017

SHARE MARKET NIFTY UPDATE

RESEARCH BHASKAR :-

NIFTY SPOT :    R1:9575     R2:9600    R3:9630

PIVOT : 9545    S1:9505       S2:9434       S3:9393


INDEX OUTLOOK :-      
RESEARCH BHASKAR
Nifty is likely to open in a negative note. Nifty is surprising every bull and bear with its move. We are expecting nifty to rise high and rule the stock market today. Momentum indicators are indicating towards more bull market in upcoming trading sessions. Intraday traders are advised to adopt buy on dip strategy for the day. Positional traders are advised to keep their longs for the target of 9700 with a trailing stop loss of 9450. While for contra positions 9650 will be a stop loss.

Strategy: long nifty around 9550 for the target of 9600 with stop loss of 9505.

SECTORIAL INDICES :- 

RESEARCH BHASKAR
CORPORATE NEWS :-     
  Results today: L&T, Coal India, NTPC, BPCL, Power Grid Corporation, BHEL, Bharat Electronics, Aurobindo Pharma, NHPC Listing: PSP Projects RMV Switchgear to come forward with new project of manufacturing of environmental friendly Imitation Marble and Wooden Surfaces  for walls and floors with production capacity of more than 20 lakh square feet of sheets/ profile per annum’ with a capex of Rs 8.01 crore and is likely to commence its commercial 
production from the month of June 2017 EID Parry: Crisil upgrades rating to AA-/stable Igarshi Motors board approves bonus issue Balkirshna Paper Mills to raise funds to the tune of Rs 25 crore by issuing 25,00,000, 9 percent cumulative redeemable preference shares of face value of Rs 100 each Bank of Baroda to raise additional Rs 9,000 crore (Rs 6,000 crore through equity capital and Rs 3,000 crore through tier 1 bonds) Jindal Stainless Steel allotted 6 crore shares to lender of the company at conversion price of Rs39/share CG power has received an offer for acquisition of the company’s power business in United States of America, comprised in its subsidiary, CG Power Systems USA Inc (PSUS) Mercator has been awarded a contract by the New Mangalore Port Trust for maintenance dredging at New Mangalore Port for a period of three years; value of the contract is Rs 98 crore Brookfiled in talks to buy towers of Idea Cellular and Vodafone at an enterprise value of Rs 6,454 crore: ET Reliance Communications trips on loan servicing with over 10 domestic lenders: ET BALCO working on a plan to enhance capacity Indian Hotels in focus: Bankers value Taj Hotel at Rs 1,000 crore, bids for Mansingh may go up to Rs  3,000 crore: BS
Tata Communications in focus: Tata Teleservices net worth erodes by Rs 11,650 crore: BS Torrent Pharma turns sales focus to Brazil, Germany: BS Raymond lines up Rs 350 crore     expansion plan: ET  Ashok Leyland has 3 pronged approach for electric buses SAIL’s salem unit sale hits a roadblock IOC seeks 2,700 acres to expand Paradip petrochem project-Jindal Steel completes construction 4 mtpa blast furnace in Odisha.


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