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29th March 2016 Nifty Tips NIFTY SPOT: 7615.10 Nifty Future R1: 7708 R2:7779 R3: 7827 Pivot: 7660 S1: 7589 S2:7541 S3:7470
CHART INTERPRETATION • Nifty spot close at 7615.10 on Monday. nifty spot touch the new level of 7700. Next major resistance for nifty may be 7950. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7638.60 on Monday. Equity benchmarks started off the week on a negative note with the Nifty snapping six-day winning streak on Monday, Weighed down by profit booking in metals, banks, select pharma and auto stocks. • INTRADAY STRATIGY:- Sell Nifty below 7600 for the tgt of 7550-7500 with the sl of 7670.
CORPORATE NEWS • TVS Motor Company announced the launch of its new four stroke auto-geared two wheeler, TVS XL 100 in Maharashtra. • Biocon said that the Ministry of Health, Labour and Welfare of Japan has approved its biosimilar insulin Glargine. • Sadbhav Infrastructure Project said that it has been declared L1 or the lowest bidder for the two projects by National Highways Authority of India (NHAI).
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