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Techno Tomorrow Date: 18/09/2018 INDEX NIFTY OUTLOOK:
The benchmark indices are trading at day's low with Nifty slipped below 11,350 dragged by PSU banks and realty index, which are down 5 percent and 3 percent respectively. The price action for the week formed a Bullish Hammer reversal pattern, with a long lower shadow, indicating a sharp recovery amid strong buying demand near the key support of 11200 as the index held the lower band of the rising channel and August 2018 lows (11234). Thus, the price action corroborates our stance of buying quality stocks on declines as we do not expect the Nifty to break below 11100 -11200 range in the current scenario. In the upcoming truncated week, we expect the Nifty to consolidate in a broad range of 11600-11200.
SCRIPT
LEVEL
TARGET
STOPLOSS
BIOCON FUT BUY ABOVE
690
705
680
SCRIPT
LEVEL
TARGET
STOPLOSS
WIPRO FUT BUY ABOVE
SCRIPT
ZEEL FUT SELL BELOW SCRIPT
BHEL FUT SELL BELOW
335
Technical Research Desk Capital ways investment adviser Indore (MP)
331
LEVEL
TARGET
STOPLOSS
460
445
470
LEVEL
TARGET
STOPLOSS
75.50
74
77
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530