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21th -April- 2016
NIFTY SPOT: 7914.75
Nifty Future R1: 7962 R2:7994 R3: 8030 Pivot: 7927 S1: 7894 S2:7859 S3:7826
CHART INTERPRETATION
Nifty spot close at 7914.75 on Wednesday . nifty spot break the trade range of 7700-7900 above that 7900 level, nifty may be touch the new level of 7950-8100 . Next major resistance for nifty may be 7950.
Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK NIFTY FUTURE: Nifty closed above 7929.85 on
Wednesday .Nifty ended higher for the sixth consecutive session on Wednesday, supported by banking & financials and metals stocks. Weakness in European peers limited the upside.
INTRADAY STRATIGY: Buy Nifty above 7930 for the tgt of 7980-8040 with the sl of 7850 .
SECTORIAL INDICES
CORPORATE NEWS
Supreme Petrochem net profit jumped 165.41% to Rs 54.33 crore on 22.91% growth in net total income from operations to Rs 812.43 crore in Q3 March 2016 over Q3 March 2015.
TV18 Broadcast net profit declined 13.57% to Rs 82.51 crore on 3.59% growth in total income to Rs 682.15 crore in Q4 March 2016 over Q4 March 2015.
National Aluminium Company lost 2.99% to Rs 44.20 after the company said that due to unavoidable reasons the meeting of board of directors scheduled to be held on 22 April 2016 to consider buyback of shares has been postponed.
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