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Equity Tips

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Equity Tips

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  1. EquityResearchLab empowering global research

  2. 1st March 2016 NIFTY SPOT: 6987.05 Nifty Future R1: 7146 R2: 7284 R3: 7441 Pivot: 6990 S1: 6852 S2:6695 S3: 6558

  3. CHART INTERPRETATION CHART INTERPRETATION • Nifty spot close at 6987.05 on Monday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750. • Mechanical indicator stochastic RSI also showing bearish trend.

  4. INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7008.95 on Monday. The stock market in India fell almost by half a percent on Monday amid a day of wild gyrations. Nifty and Nifty Bank index hit fresh 52-week low as the Budget was being announced. Market participants seemed disappointed with the announcements which saw Nifty breached past its previous low of 6869. Banking stocks plunged after the finance minister proposed a lower-than-expected Rs 25,000crore to be provided for recapitalisation of public sector banks. • INTRADAY STRATIGY:- Sell Nifty Below the 6950 for the tgt of 6900-6850 with the sl of 7010 .

  5. SECTORIAL INDICES

  6. CORPORATE NEWS • Finance Minister ArunJaitley presented his third Budget, wherein; he stressed on Indian economy's resilience amidst the current global economic turmoil. Government has given 3.5% fiscal deficit target Inspite of global and domestic headwinds. This depicts the government is optimistic on the domestic economic condition. Another positive is that the Finance Minister has not hiked the service tax. But GST is being fully ignored here, which is not so impressive. STT on options is to be raised to 0.05% from 0.017%. • Relief to small tax payers: The government raises the ceiling of tax rebate under section 87A from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income up to Rs 5 lakhs. Increase the limit of deduction of rent paid under section 80GG from Rs 24000 per annum to Rs 60000, to provide relief to those who live in rented houses.

  7. Thank you

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