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Techno Tomorrow Date: 04/09/2018 INDEX NIFTY OUTLOOK:
Stock markets extended losses to yet another day amid fund outflow-related concerns. BSE benchmark index Sensex fell 154 points to close at 38,157 on Tuesday, while the NSE Nifty declined 62 points to settle at 11,520. Weakness prevailed across sectors except IT, which took support from the rupee's plunge to life-time lows. Going ahead, we expect the Nifty to hold the key value are of 11500 in the coming session. Thus, any cool off towards 11500 should be used as incremental buying opportunity. Failure to do so, the index may enter into consolidation (111760- 11450) as it has rallied almost 10% over the past eight weeks leading weekly stochastic oscillator to trade in overbought territory (at 90) along with mild negative divergence.
SCRIPT
LEVEL
TARGET
STOPLOSS
HCLTECH FUT BUY ABOVE
1080
1120
1040
SCRIPT
LEVEL
TARGET
STOPLOSS
TATAGLOBAL FUT SELL BELOW
224
216
232
SCRIPT
LEVEL
TARGET
STOPLOSS
CEATLTD FUT SELL BELOW
1327
1302
1352
SCRIPT
LEVEL
TARGET
STOPLOSS
910
880
940
INDIGO FUT SELL BELOW
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