qwertyuiopasdfghjklzxcvbnmqwerty

uiopasdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfghjklzx
cvbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmqwertyuiopasdfghjklzxc
vbnmqwertyuiopasdfghjklzxcvbnmq
wertyuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiopasdfg
NIFTY OUTLOOK
hjklzxcvbnmqwertyuiopasdfghjklzxc
REPORT
vbnmqwertyuiopasdfghjklzxcvbnmq
nd
02 February 2017
wertyuiopasdfghjklzxcvbnmqwertyui
Prepared by: Meenakshi Pal
opasdfghjklzxcvbnmqwertyuiopasdfg
hjklzxcvbnmrtyuiopasdfghjklzxcvbn
mqwertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyuiopas
 02nd February 2017

NIFTY FUTURE

NIFTY FUTURE : R1:8805 R2:8872 R3:8997

PIVOT :8680 S1:8612 S2:8487 S3:8420

NIFTY DAILY CHART

CHART INTERPRETATION

Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market
would enter into negative zone once Nifty closes below 8380 levels for Nifty Traders can initiate
fresh short position once market closes below these levels. Market has consolidated for long time
and now there are strong possibility of a breakout or breakdown in upcoming days. Once Nifty
closes below 8350 levels then market would see a sharp breakdown. So traders can hold long
positions only till Nifty hold these levels by closing. Nifty would see strong support at 8630-8610-
8580-8550 whereas strong resistance would be seen at 8680-8700-8730 levels.

INDEX
MACD ROC are both negative and continue in sell mode. RSI (40) suggests bearish momentum.
OUTLOOK
and Price

NIFTY FUTURE: The market has ended on a higher note after Finance Minister Arun Jaitley presented
Union Budget 2017. The Sensex ended up 471.67 points or 1.7 percent at 28127.63, and the Nifty was
up 152.95 points or 1.8 percent at 8714.25. About 1923 shares have advanced, 890 shares declined,
and 130 shares are unchanged. Maruti, SBI, ICICI Bank, M&M and ITC were gainers while TCS,
Infosys, Sun Pharma, ONGC and NTPC were losers in the Sensex. It was for the first time after
Union Budget 2005 that the Indian benchmark indices have surged more than 1.7% on the day of
budget. Going forward we hold 8737-8745 as the immediate resistances followed by 8810 as the
crucial resistance. On the downside if Nifty retreats due to profit booking we hold 8670-8600 as the
supports for the Nifty.

STRATEGY: Buy Nifty Future above 8750 for the target of 8800 -8850 with the stop loss of 8680.

WWW.EQUITYRESEARCHLAB.COM
 02nd February 2017

SECTORAL INDICES

Key Indices Levels to watch out for the day

RESISTANCE RESISTANCE
INDEX (Spot) LTP SUPPORT 1 SUPPORT 2
2 1
SENSEX 28430 28260 28141 27950 27750

NIFTY 8800 8750 8716 8660 8600

NIFTYBANK 20400 20210 20020 19800 19550

NIFTY IT 10030 9900 9750 9590 9430

CORPORATE NEWS

Eicher Motors reported a 50% increase in Net Profit to Rs. 418.2 Cr in Q3, against Rs. 278.7 Cr in the
corresponding quarter last fiscal. Total Revenue increased by 42.6% to Rs. 2,071.4 Cr against Rs.
1,452.1 Cr. The numbers were aided by strong volume uptick despite demonetization, where Royal
Enfield volumes went up by 38% YoY in the quarter. However, Commercial Vehicle Sales dropped
7% YoY. Shares closed up 4.7%.

Maruti Suzuki reported a 27.1% increase in sales volume to 1,44,396 units for the month of January
against 1,13,606 units in the corresponding month last year. Domestic sales grew by 25.9% to 1,33,934
units led by strong demand for Baleno and Brezza. Exports increased by 45% to 10,462 units. Shares
closed up 5.1%.

Apollo Tyres reported a 15.6% rise in Consolidated Total Income to Rs. 3,703.7 Cr in Q3 against Rs.
3,203.3 Cr in the corresponding quarter last year. Net Profits were up by 6% to Rs. 295.7 Cr against
Rs. 279 Cr in the corresponding quarter last year. Margins were impacted significantly because of
increase in material costs.

WWW.EQUITYRESEARCHLAB.COM
 02nd February 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Yogesh Subnani Sr. Research Analyst Yogesh.subnani@equityresearchlab.co.in
Miss. Meenakshi Pal Sr. Research Analyst 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