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Techno Tomorrow Date: 23/08/2018 INDEX NIFTY OUTLOOK:
After clinching fresh milestones in the morning, shares had a sort of an anti-climax ending as benchmarks managed to end the day on a subdued note. While IT, pharma and FMCG gained big, weakness in banks, metals and auto offset the positive upmove and pushed indices to flat lines. The Nifty managed to end the day above 11,550, but below 11,600 that it hit for the first time. The weekly price action formed a strong bull candle, as the index pared intraweek losses and staged a sturdy recovery from last week’s low (11360), indicating elevated buying demand from lower band of upward sloping channel (around 11370). In coming weeks, we expect Nifty midcap to outperform as Nifty Midcap index has confirmed the breakout from falling wedge .
SCRIPT
LEVEL
TARGET
STOPLOSS
732
742
722
LEVEL
TARGET
STOPLOSS
1072
1092
1052
SCRIPT
LEVEL
TARGET
LICHSGFIN FUT BUY ABOVE
575
585
565
SCRIPT
LEVEL
TARGET
STOPLOSS
TATAMOTOR FUT SELL BELOW
257
250
264
TECHM FUT BUY ABOVE SCRIPT
BATA FUT BUY ABOVE
STOPLOSS
B\
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