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18 February 2016 • NIFTY SPOT: 7108.45 • Nifty Future R1: 7181 R2: 7241 R3: 7348 • Pivot: 7074 S1: 7014 S2: 6907 S3: 6847
CHART INTERPRETATION • Nifty spot close at 7108.45 on Wednesday . Technical and fundamental of the market is weak So may be nifty reach the level of 7300 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.
INDEX OUTLOOK • NIFTY FUTURE:- Niftyfuture closed at 7120.90 on Wednesday. indices gained momentum post the opening of European indices in green. Lower level of buying also supported the sentiment. • INTRADAY STRATIGY:- Buy Nifty above the 7150 for the tgt of 7200-7250 with the sl of 7070.
CORPORATE NEWS • Glenmark Pharmaceuticals US unit has been granted tentative approval by the United States Food & Drug Administration (USFDA) for its Azelaic Acid Gel, 15%, the generic version of Finacea Topical Gel, 15% of Bayer Healthcare. • TCS announced launch of Digital Reimagination Studio in Silicon Valley, designed to help customers and partners rapidly ideate bold new innovations and build industry changing concepts. • Bank of India said that Standard & Poor's (S&P) Ratings revised its outlook on the bank to 'negative' from 'stable'.
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