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4th April 2016 • Nifty Tips NIFTY SPOT: 7713.05 Nifty Future R1: 7779 R2:7810 R3: 7848 Pivot: 7741 S1: 7711 S2:7673 S3:7642
CHART INTERPRETATION • Nifty spot close at 7713.05 on Friday. 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 7748.75 on Friday. Nifty ended the week with marginal losses and also dipped for the first time in the past five weeks. INTRADAY STRATIGY:- Buy Nifty above 7750 for the tgt of 7800-7850 with the sl of 7680.
CORPORATE NEWS • PPF interest rates have been reduced from 8.7% to 8.1%, while that on 5 year recurring deposit has been reduced to 7.4% from 8.4%. The interest rate on Kisan Vikas Patra has been slashed to 7.8% from 8.7%. Besides, the government also has slashed interest rates on 3-year time deposit to 7.4% from 8.4%; 5 year time deposit to 7.9% from 8.5% and on girl child scheme to 8.6% from 9.2%. • Telecom index gained 1.4% to 1265.10 points at the closing bell on Friday from its previous close of 1246.96 points. Telecom stocks are rallying for the second consecutive session. A relief to telcos, Supreme Court on March 17 asked Telecom Regulatory Authority of India (TRAI) to consider partial roll-back of call drop penalty. • Torrent Pharmaceuticals Ltd stock closed 4% higher at Rs. 1312. The company received environment inspection report from USFDA for plant located at Dahej SEZ in Gujarat state, according to reports. 3 out of 5 manufacturing plants of the company now have an FDA approval, The scrip opened at Rs. 1271 and touched a high and low of Rs. 1319 and Rs. 1263.7 respectively.
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