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30th March 2016 NIFTY TIPS NIFTY SPOT: 7597.00 Nifty Future R1: 7664 R2:7708 R3: 7741 Pivot: 7630 S1: 7586 S2:7553 S3:7509
CHART INTERPRETATION • Nifty spot close at 7597.00 on Tuesday . nifty spot trade between the range of 7550-7700 above that level, nifty may be touch the new level of 7800-7950 . Next major resistance for nifty may be 7950. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK NIFTY FUTURE:- Nifty future closed at 7620.05 on Tuesday. The nifty falling below 7600-mark. Healthcare, infra, FMCG and technology stocks dragged market while rally in auto, metals and select banks stocks capped downside. INTRADAY STRATIGY:- Buy Nifty above 7600 for the tgt of 7650-7700 with the sl of 7530.
INDEX OUTLOOK • Lupin dropped 6.17% to Rs 1,402, in volatile trade after the company clarified that it does not expect any disruption to product supply from the Mandideep location. • AurobindoPharma has received final approval from USFDA to manufacture and market RivastigmineTartrate Capsules USP, used for the treatment of dementia disease, in the American market. • Ashok Leyland has received orders worth Rs 800 crore from the Indian armed forces. As part of the order, the company will supply 450 units of Field Artillery Tractor (FAT) 6x6 and other similar super stallion vehicles, and 825 units of ambulance 4x4.AI).
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