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Techno Tomorrow Date: 24/08/2018 INDEX NIFTY OUTLOOK:
Amid somber global cues along with a weaker rupee back home, equity benchmarks managed to end the week on a negative note. At the close of market hours, the Sensex ended lower by 84.96 points or 0.22% at 38251.80, while the Nifty was down 25.70 points or 0.22% at 11557.10. Friday’s weak move was led by selloff in banks, IT and auto names, while metals looked to offer some support. 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
80.50
82.50
SCRIPT
LEVEL
TARGET
STOPLOSS
APOLLOHOSP FUT BUY ABOVE
1195
1215
1175
SCRIPT
LEVEL
TARGET
TATACHEM FUT BUY ABOVE
733.50
745
722
SCRIPT
LEVEL
TARGET
STOPLOSS
TATACHEM FUT BUY ABOVE
612
622
602
BHEL FUT BUY ABOVE
78.50
STOPLOSS
B\
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