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NIFTY OUTLOOK
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REPORT
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th
07 June 2017
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 07th June 2017

NIFTY

NIFTY SPOT : R1:9693 R2:9715 R3:9735

PIVOT : 9676 S1:9648 S2:9630 S3:9603

NIFTY DAILY CHART

NIFTY OUTLOOK
Nifty is likely to open in a flat note. Momentum indicators like RSI is waving its flag for the bears once again. We
are expecting a weak trading session today. Positional traders are advised to average their long around 9575
with a stop loss of 9500.While intraday traders are advised to go for sell on rise strategy for todays trading
session.

Strategy: Short Nifty around 9665 with a stop loss of 9700 for the target of 9600

Name Current Value Change % Chg Open High Low

FTSE 100 (Jun 6) 7,524.95 -0.81 -0.01 7,525.76 7,527.64 7,502.83

CAC 40 (Jun 6) 5,269.22 -38.67 -0.73 5,280.20 5,296.42 5,260.95
DAX (Jun 6) 12,690.12 -132.82 -1.05 12,768.46 12,788.34 12,679.58

19,943.03 -36.87 -0.18 19,951.68 19,970.02 19,908.07

Nikkei 225 (Jun 7)
Straits Times (Jun
3,243.81 8.06 0.25 3,237.61 3,249.57 3,235.38
7)
26,014.56 17.42 0.07 26,025.21 26,073.44 25,983.12
Hang Seng (Jun 7)

Taiwan Weighted 10,196.52 -9.66 -0.09 10,216.14 10,242.39 10,183.15

(Jun 7)
9,679.50 4 0.04 9,673.50 9,697.00 9,661.00
SGX Nifty (Jun 7)

WWW.EQUITYRESEARCHLAB.COM
 07th June 2017

CORPORATE NEWS

Reliance Communications
-Moddys revises rating to Ca from Caa1
-Fitch revises rating to RD from CCC

Reliance Communications on ratings downgrade:

-Will repay Rs 25,000 crore from Aircel- Brookfield transaction by September 30, 2017
-Repayment by September 30 will include pre-payment & scheduled payment to lenders
-Expect to meet all debt obligation & substantially reduce overall debt

Yes Bank
-Shareholders approve increase in borrowing limit to Rs 70,000 crore from Rs 50,000 crore-
Shareholders approve fundraising up to Rs 20,000 crore via non-convertible debentures (NCDs)

Adani Enterprises
-Stake in Adani Green Energy diluted to below 50 percent
-Adani Green ceases to be a unit of Adani Enterprises

Oil India
-Makes hydrocarbon discovery in Baghjan, Assam
-Discovered fields put on regular production

-Sical Logistics receives letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs 289 crore
for 3 years

-Meera Industries' wholly owned subsidiary company in the name and style of Meera Industries USA LLC,
formed in North Carolina State of USA

-Rattan India Infra says open offer for acquisition of up to 35 crore shares by a number of buyers

-Rattan India Power says 32 crore warrants held in company by Yantra Energetics Private Limited stand lapsed

-ONGC may buy out entire government's stake in HPCL: ET

-Bhushan Steel in focus: Serious Fraud Investigation Office begins probe into 2 Bhushan group companies: ET

-Government may look at merger of infra lenders IIFCL and IFCI: ET

-GE Shipping says no significant capex in FY18: BS

-Vivimed Labs gets zero US FDA observations for API facility at Sant Celoni, Spain

-Lakshmi Vilas Bank appoints BK Manjunath as part-time chairman of the bank

-Canara Bank cuts MCLR by 0.05 percent for various maturities-Adani Power board approves slump sale of
Mundra Power business to subsidiary Adani Power (Mundra)

WWW.EQUITYRESEARCHLAB.COM
 07th June 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Manish Bimal Sr. Research Analyst Manish.bimal@equityresearchlab.co.in

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