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Techno Tomorrow Date: 02/08/2018 INDEX NIFTY OUTLOOK:
Equity benchmarks have ended the day on a weak note, following weak global cues as well as profit booking in the market. The Sensex ended over 350 points lower, while the Nifty gave up 11,250 as well.The Sensex closed down 356.46 points or 0.95% at 37165.16, while the Nifty ended lower by 101.50 points or 0.89% at 11244.70.The weekly price action formed a strong bull candle, signifying market resilience. In line with our view, the Nifty maintained a positive bias for a third consecutive week, post eight week’s maturity of earlier directional move. The breakout from the six month’s broader consolidation (11172–9952) supported by strong market breadth, indicates termination of secondary corrective phase. This leads to structural improvement, making us confident on upgrading target to 11400. SCRIPT
LEVEL
TARGET
STOPLOSS
336
346
326
SCRIPT
LEVEL
TARGET
STOPLOSS
INDIGO FUTBUY ABOVE
956
976
936
SCRIPT
LEVEL
TARGET
STOPLOSS
L&T FUT SELL BELOW
1270
1250
1290
SCRIPT B\
LEVEL
TARGET
STOPLOSS
RELIANCE FUT SELL BELOW ABOVE
1175
1155
1195
JETAIRWAYS FUT BUY ABOVE
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