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18th March 2016. Nifty Tips NIFTY SPOT: 7512.55 Nifty Future R1: 7580 R2:7648 R3: 7695 Pivot: 7533 S1: 7465 S2:7419 S3:7351
CHART INTERPRETATION • Nifty spot close at 7512.55 on Thursday. Nifty spot reached the level of 7500 and showing consolidation at that point. Above the 7700 Fresh buying may be add in nifty. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7512.75 on Thursday. Nifty pared their day’s gain the last half an hour of the trade and closed almost flat. • INTRADAY STRATIGY:- Buy Nifty above 7520 for the target of 7570-7630 with the sl of 7450.
CORPORATE NEWS • BhartiAirtelhas entered into a definitive pact with Videocon Telecommunications to acquire the right to use the latter's spectrum in six telecom circles. • ONGC’s overseas investment arm signed a memorandum of understanding with Rosneft for the acquisition of 11% shares in Vankorneft, a wholly owned subsidiary of Rosneft. • TCS announced the successful launch of Norway's first peer-to-peer mobile payment solution with DNB, the largest financial services group in Norway.