qwertyuiopasdfghjklzxcvbnmqwerty

uiopasdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasdfghjklzxc
vbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
NIFTY OUTLOOK
hjklzxcvbnmqwertyuiopasdfghjklzxc
REPORT
vbnmqwertyuiopasdfghjklzxcvbnmq
22 December 2016
wertyuiopasdfghjklzxcvbnmqwertyui
Prepared by: Meenakshi Pal
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmrtyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyuiopas
nd

22nd December 2016

NIFTY FUTURE

NIFTY FUTURE :
PIVOT :8092

R1:8112
S1:8060

R2:8144
S2:8041

R3:8163
S3:8009

NIFTY DAILY CHART

CHART INTERPRETATION
Technically, A strong break below 8000 will increase the downside pressure and drag it to 7900/7800.
Traders can go short on a break below 8000.On the other hand, a decisive break above 8200 will ease the
downside pressure and take the index futures higher to 8300 and 8350 thereafter. MACD and Price ROC are
both negative and continue in sell mode. RSI (40) suggests bearish momentum. This week, the indices tested
the short term average of 22dma Nifty 8242 but could not close above it. the indices continue to remain
below the medium term average of 50dma Nifty 8430 but above the long term average of 200dma Nifty
7600. Thus the trend in the short term and medium term timeframe remains bearish whereas the trend in
the long term timeframe still continues to remain Bullish.
MACD and Price ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.

INDEX OUTLOOK
NIFTY FUTURE: Equity benchmarks extended losses for the sixth consecutive session on Wednesday,

dragged by technology, FMCG and select banks stocks. The market started off trade on a positive note
following Asian peers but erased gains in late trade on weak European cues. Investors will closely
watch tomorrow's GST meeting. Sensex was down 65.60 points at 26242.38 and Nifty slipped 21.10
points to 8061.30, the lowest closing level since November 24. Nifty sectoral indices ended on a mixed
note. Nifty Realty gained over 1% while Nifty FMCG dipped over 1%. While, Nifty Metal index
ended on a positive note up 0.5%. The Nifty Metal index rose for the first time in four sessions led by
gains in shares of Welspun Corp, Hindalco Industries and Hindustan Zinc. This positive trend was
supported by a rise in rupee against the dollar. The BSE Midcap closed marginally low while BSE
Smallcap closed marginally high. The India VIX (Volatility) index was up 0.84% at 14.66.
STRATEGY: Buy Nifty Future
WWW.EQUITYRESEARCHLAB.COM

above 8100 for the target of 8150 -8200 with the stop loss of 8030.

22nd December 2016

SECTORAL INDICES

INDEX (Spot)
SENSEX
NIFTY
NIFTYBANK
NIFTYIT

Key Indices Levels to watch out for the day

RESISTANCE 2
RESISTANCE 1
LTP
SUPPORT 1
26650
26500
26242.38
26195
8160
8100
8061.30
8000
18400
18200
18084.50
17900
10400
10300
10228.25
10150

SUPPORT 2
26000
7940
17800
10100

CORPORATE NEWS

Reliance Communications signed a binding agreement with the US asset management company Brookfield
Group to sell its tower business. The company will receive an upfront cash payment of Rs. 11,000 Cr (USD 1.6
billion) on completion of the transaction, which will be used for debt reduction. Shares closed up 6.7%.

Bajaj Hindusthan Sugar Ltd announced that its board approved the sale and transfer of co-generation power
business of a capacity of 449 MW located at 14 locations to Lalitpur Power Generation Company Limited
(LPGCL) for a lump sum consideration in cash of approximately Rs. 1,800 Cr.

Pharma Major Sun Pharmaceuticals completed the acquisition of 85.1% stake in Russia based JSC Biosintez.

WWW.EQUITYRESEARCHLAB.COM

22nd December 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

DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be
reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have
the right to choose the product/s that suits them the most. Investment in Stocks has its own risks.
Sincere efforts have been made to present the right investment perspective. The information contained
herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch
for the accuracy or the completeness thereof. This material is for personal information and we are not
responsible for any loss incurred based upon it & takes no responsibility whatsoever for any financial
profit s or loss which may arise from the recommendations above. The stock price projections shown
are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice.
Equity Research Lab does not purport to be an invitation or an offer to buy or sell any financial
instrument. Analyst or any person related to Equity Research Lab might be holding positions in the
stocks recommended. It is understood that anyone who is browsing through the site has done so at his
free will and does not read any views expressed as a recommendation for which either the site or its
owners or anyone can be held responsible for. Any surfing and reading of the information is the
acceptance of this disclaimer.
Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our
calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly
or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of
the information is the acceptance of this disclaimer.
ALL RIGHTS RESERVED.

WWW.EQUITYRESEARCHLAB.COM