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Techno Tomorrow Date: 07/09/2018 INDEX NIFTY OUTLOOK:
The Nifty managed to end well above 11,550-mark. The midcap index ended with gains of over a percent and outperformed the benchmarks. A strengthening rupee also helped the market recover. Cooling off of oil prices and some reported dollar selling by private banks erased some losses for the currency. The price action formed a high wave candle with large lower shadow highlighting supportive efforts to hold previous session’s panic low (11393) and also resulted in a higher high, turning the bias positive after six session decline. ythm . Our view of avoiding shorts at lower levels has thus fructified. In coming sessions, we expect Nifty to hold Wednesday’s panic low of 11393 and lead a pull back towards 11650 levels.
SCRIPT
LEVEL
TARGET
STOPLOSS
TVSMOTOR FUT BUY ABOVE
589
600
578
SCRIPT
LEVEL
TARGET
STOPLOSS
M&M FUT BUY ABOVE
975
990
960
SCRIPT
LEVEL
TARGET
STOPLOSS
BAJAJAUTO FUT BUY ABOVE
2940
2990
2890
SCRIPT
LEVEL
TARGET
RBLBANK FUT BUY ABOVE
614
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STOPLOSS
628
600 530