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21th March 2016. Nifty Tips NIFTY SPOT: 7604.35 Nifty Future R1: 7637 R2:7670 R3: 7725 Pivot: 7582 S1: 7549 S2:7494 S3:7462
CHART INTERPRETATION • Nifty spot close at 7604.35 on Friday . Nifty spot reached the level of 7500 and showing consolidation at that point. Nifty may be touch the level of 7700 soon. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7605.30 on Friday. The continuous inflow of foreign funds and pick up in the Chinese market has created a positive sentiment in the market. • INTRADAY STRATIGY:- Buy Nifty above 7610 for the tgt of 7650-7690 with the sl of 7540
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 KisanVikasPatra 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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