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Techno Tomorrow Date: 31/08/2018 INDEX NIFTY OUTLOOK:
Indian equity indexes ended largely flat on Friday, after trading under pressure for much of the day. the NSE Nifty 50 settled marginally up by 3.70 percent, or 0.03 percent, at 11,680.50. Midcaps ended with gains of 0.35 percent, outperforming frontline indexes. The price action formed a sizable bear candle and filled the last session’s gap , indicating a breather after last two sessions 228 points up move.The Nifty has maintained its positive price structure by trading within an upward sloping channel encompassing up move off July low 10604.We believe such a breather would make the market healthy, paving the way for the Nifty to head towards 11925 in coming weeks . In the coming session, the previous session’s low (11679 ) will be the key level to watch as holding above the same would keep positive options open . SCRIPT
LEVEL
TARGET
DRREDDY FUT BUY ABOVE
2510
2560
SCRIPT
LEVEL
TARGET
CADILA FUT BUY ABOVE
407
417
SCRIPT
LEVEL
TARGET
STOPLOSS
1450
1490
1410
SCRIPT
LEVEL
TARGET
STOPLOSS
BAJFIN FUT SELL BELOW
2880
2840
2920
TATAELXSI FUT BUY ABOVE
STOPLOSS
2450
STOPLOSS
397
B\
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