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1. qwertyuiopasdfghjklzxcvbnmqwerty uiopasdfghjklzxcvbnmqwertyuiopasd fghjklzxcvbnmqwertyuiopasdfghjklzx cvbnmqwertyuiopasdfghjklzxcvbnmq wertyuiopasdfghjklzxcvbnmqwertyui opasdfghjklzxcvbnmqwertyuiopasdfg hjklzxcvbnmqwertyuiopasdfghjklzxc vbnmqwertyuiopasdfghjklzxcvbnmq wertyuiopasdfghjklzxcvbnmqwertyui opasdfghjklzxcvbnmqwertyuiopasdfg hjklzxcvbnmqwertyuiopasdfghjklzxc vbnmqwertyuiopasdfghjklzxcvbnmq wertyuiopasdfghjklzxcvbnmqwertyui opasdfghjklzxcvbnmqwertyuiopasdfg hjklzxcvbnmrtyuiopasdfghjklzxcvbn mqwertyuiopasdfghjklzxcvbnmqwert yuiopasdfghjklzxcvbnmqwertyuiopas dfghjklzxcvbnmqwertyuiopasdfghjklz NIFTY OUTLOOK REPORT 24th January 2017 Prepared by: Meenakshi Pal

2. 24th January 2017 NIFTY FUTURE NIFTY FUTURE : PIVOT :8348 R1:8432 S1:8351 R2:8469 S2:8300 R3:8520 S3:8266 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 8250 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 8250 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 8250-8226-8180-8150 whereas strong resistance would be seen at 8445-8465levels. INDEX OUTLOOK STRATEGY: Sell Nifty Future near 8441 for the target of 8400 with the stop loss of 8481 WWW.EQUITYRESEARCHLAB.COM

3. 24th January 2017 SECTORAL INDICES Key Indices – Levels to watch out for the day RESISTANCE 2 RESISTANCE 1 27450 27320 8500 8460 19200 19000 10475 10350 INDEX (Spot) SENSEX NIFTY NIFTYBANK NIFTYIT LTP SUPPORT 1 26975 8350 18650 10100 SUPPORT 2 26800 8300 18500 9990 27117.34 8391.50 18842.70 10219.40 CORPORATE NEWS Hindustan Unilever reported a 6.9% increase in Net Profits to Rs. 1,037.9 Cr in Q3FY17 against Rs. 971.7 Cr in the corresponding quarter last year. It had an exceptional profit on sale of surplus properties of Rs. 159 Cr and restructuring expenses of Rs. 6 Cr. Total Income fell 0.8% on YoY basis to Rs. 8,317.9 Cr against Rs. 8,384.7 Cr. EBITDA margin contracted by 70 basis points largely due to rising input costs. JSW Energy reported a 26.7% drop in Consolidated Net Profit to Rs. 1,904.3 Cr as compared to Rs. 2,599 Cr YoY. Operating Profit stood at Rs. 657 Cr, down by 42.7%. Net Profit went down 93.1% to Rs. 21.4 Cr, against Rs. 309.3 Cr YoY on lower generation and lower tariff. Total plant load factor for the quarter stood at 56%, which was much lower compared with 71% in same quarter last year, impacted by lower PLF at Ratnagiri and Vijayanagar plants. Kalpataru Power Transmission received orders worth Rs. 825 Cr. The order consists of transmission line and sub-station projects worth Rs. 440 Cr in Africa and CIS (Commonwealth of Independent States) region. There were two other pipeline projects from IOCL and GAIL worth about Rs. 277 Cr and a railway project from CORE worth about Rs. 111 Cr. Shares closed up 2.2%. WWW.EQUITYRESEARCHLAB.COM

4. 24th January 2017 ERL RESEARCH TEAM Member Name Mr. Tuhinanshu Jain Mr. Yogesh Subnani Miss. Meenakshi Pal Designation Research Head Sr. Research Analyst Sr. Research Analyst E-mail ID 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