Best Nifty Tips For Tomorrow (16th August)

Benchmark indices rebounded, to end over 0.5% higher on Monday, snapping a five-day losing run after weak US inflation data dampened prospects of a rate hike this year, lifting sentiment across global markets. Meanwhile, figures for the Index of Industrial Production (IIP), released by the government on Friday, showed national factory output contracting by 0.1%, a 48-month low, as compared to the 2.7% rise seen in the previous month of May. Back home, investors reacted to July Wholesale Price Index (WPI)-based inflation data, which surged to 1.8% from 0.9% reported in June. Consumer Price Index (CPI)-based inflation data will be released later in the day. The S&P BSE Sensex ended at 31,449, up 235 points while the broader Nifty50 index settled at 9,794, up 83 points.

Best Nifty Tips For Tomorrow (16th August)


POINT OF VIEW
TREND: BEARISH TO CONSOLIDATE
RESISTANCE: 9810, 9860
SUPPORT: 9750, 9700
STRATEGY: SELL ON HIGH

CALL : BUY FRETAIL ABOVE 470 TARGETS 474.5 , 479 , 483.5 STOPLOSS 461
CALL : BUY UTTAMSUGAR ABOVE 199.5 TARGETS 201.4 , 203.3 , 205.2 STOPLOSS 195.7
CALL : BUY TUBEINVEST ABOVE 824 TARGETS 832 , 840 , 848 STOPLOSS 808