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3rd June 2016

Nifty Tips
NIFTY SPOT: 8218.95
Nifty Future
8370
Pivot: 8219
S3:8092

R1: 8277
S1: 8185

R2:8312
S2:8126

R3:

CHART INTERPRETATION
Nifty spot close at 8218.95 on Thursday. At higher

side, important level 8250-8500. As long as Nifty

future manages to sustain above this level on
intraday declines, the trend will be strong and nifty
future will try touch further higher levels from this
level. At lower side, support near 8000. Further
weakness is nifty future is possible only if Nifty
future falls and stays below the important support
of 8000-7950. At lower side nifty support level may
be in the range of 7800-7700.
Mechanical indicator stochastic RSI also showing
consolidated trend.

INDEX OUTLOOK
NIFTY

FUTURE: Nifty closed at 8194.55 on

Thursday. The Indian equity market closed with
smart gains on Thursday after trading sideways in
the past two trading sessions. Benchmarks
shrugged off early morning losses and rebounded
into the positive zone during afternoon trades led
by gains in the metal, banking, industrial, auto,
energy, oil and gas, capital goods and select power
stocks. Even the BSE Midcap and Small cap stocks
ended higher. However, pharma and consumer
durables indices ended the day in the red.
INTRADAY STRATIGY: Buy Nifty future above 8250
for the tgt of 8300-8350 sl 8170.

SECTORIAL INDICES

CORPORATE NEWS
Coal India soared 3.2% to Rs.306. The company has achieved a

production of 42.58 million tonnes in May, lower than the target of 44.64
million tonnes (MT) for the month. During the months of April and May,
the miner produced 82.93 MT of coal against the target of 89.12 MT.
BPCL Ltd has announced that it has received shareholder nod to
increase FII Investment Limit to 49%.
India's central bank is trying to clean up the balance sheets of the
country's banks. Government Support Underpins Ratings On Indian
Public Sector Banks. (RBI) ongoing asset quality review has tested the
government's willingness to support public sector banks. Support has so
far been forthcoming, and the Indian government has reiterated its
intention of providing capital to public sector banks, even beyond the
budgeted amounts, if needed. We continue to believe there is a very
high likelihood that the government will support India's banks, and that
forms a pivotal point in our assessments of capital position and
extraordinary support for the banks.

CORPORATE NEWS
Coal India soared 3.2% to Rs.306. The company has achieved a

production of 42.58 million tonnes in May, lower than the target of 44.64
million tonnes (MT) for the month. During the months of April and May,
the miner produced 82.93 MT of coal against the target of 89.12 MT.
BPCL Ltd has announced that it has received shareholder nod to
increase FII Investment Limit to 49%.
India's central bank is trying to clean up the balance sheets of the
country's banks. Government Support Underpins Ratings On Indian
Public Sector Banks. (RBI) ongoing asset quality review has tested the
government's willingness to support public sector banks. Support has so
far been forthcoming, and the Indian government has reiterated its
intention of providing capital to public sector banks, even beyond the
budgeted amounts, if needed. We continue to believe there is a very
high likelihood that the government will support India's banks, and that
forms a pivotal point in our assessments of capital position and
extraordinary support for the banks.

CORPORATE NEWS
Coal India soared 3.2% to Rs.306. The company has achieved a

production of 42.58 million tonnes in May, lower than the target of 44.64
million tonnes (MT) for the month. During the months of April and May,
the miner produced 82.93 MT of coal against the target of 89.12 MT.
BPCL Ltd has announced that it has received shareholder nod to
increase FII Investment Limit to 49%.
India's central bank is trying to clean up the balance sheets of the
country's banks. Government Support Underpins Ratings On Indian
Public Sector Banks. (RBI) ongoing asset quality review has tested the
government's willingness to support public sector banks. Support has so
far been forthcoming, and the Indian government has reiterated its
intention of providing capital to public sector banks, even beyond the
budgeted amounts, if needed. We continue to believe there is a very
high likelihood that the government will support India's banks, and that
forms a pivotal point in our assessments of capital position and
extraordinary support for the banks.

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