EPIC RESEARCH : - Daily Equity Report Of 07 May 2018
India, 7 May 2018
-- The Nifty50 which started on a strong failed to hold on to momentum and quickly pared gains on Friday and closed just above its
crucial support level of 10,600 levels.
NIFTY DAILY TECHNICAL LEVELS
The Nifty50 which started on a strong failed to hold on to momentum and quickly pared gains on Friday and closed just above its
crucial support level of 10,600 levels. The index slipped 0.7 percent for the week ended May 4.Bears took control of the index from the
word go and closed near its intraday low making a ‘Bearish Belt Hold’ kind of pattern on the daily charts. On the weekly charts, Nifty
formed a bearish candle after closing in green for the past five weeks. so we advice to SELL NIFTY FUTURE AROUND 10675-10670
TGT 10620-10550 SL above 10720.
The Nifty Bank index closed at 25,645.40, up 0.16 percent on Friday. The important Pivot level, which will act as crucial support
for the index, is placed at 25,561.93, followed by 25,478.46. On the upside, key resistance levels are placed at 25,704.63, followed
by 25,763.87. so we advice you to BUY Nifty Bank future around 25800-25820 tgt 25870-25970 sl below 25720.
STOCKS DAILY TECHNICAL LEVELS
This particular counter has made a spinning top candle at the support level of 285,, today it may break the crucial resistance level of
293 here buy on rise would be a good strategy to follow so we advice you to buy TATAGLOBAL FUTURE around 293-293.5 tgt 296-
300 sl below 290.
From the daily its clear that the this scirpt is in downtrend and getting support at 333 , here buy dip would be a good opportunity so we
recommend you to BUYMOTHERSUMI AROUND 333-334 TGT 338-342 SL BELOW 330.
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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Monday, 7 May 2018 at 12:30 PM
Category: News & Media
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