Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
Karachi Sexy Girls || 03280288848 || Sex services in Karachi
Daily Technical Report:02 Januaray 2018
1. Technical View (Equity)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,435.55 -0.90% 10350 10395 10465 10510 10580
Sensex 33812.75 -0.72% 33560 33685 33895 34020 34230
Nifty Daily Chart
Comments:
Nifty opened on a flat note and witnessed sideways movement in initial half. However last hour profit
booking pulled index lower to end in red. Nifty closed at 10436 with a loss of 95 points.
On the daily chart index has formed a sizable bearish candle forming lower High-Low compare to
previous session and has closed below previous session's low indicating negative bias. The index is
moving in a lower Top and lower Bottom formation on the hourly chart indicating short term down
trend. The chart pattern suggests that if Nifty breaks and sustains below 10420 level it would witness
selling which would lead the index towards 10400-10370 levels. However if index crosses above 10470
level it would witness pullback rally which would take the index towards 10500-10520. Nifty is trading
above 20, 50 and 100 day SMA's which are important short term moving averages, indicating positive
bias in the short to medium term. Nifty continues to remain in an uptrend in the short and medium
term, so buying on dips continues to be our preferred strategy.
The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are
below their respective reference lines indicating negative bias.
The trend deciding level for the day is 10465. If NIFTY trades above this level then we may witness a
further rally up to 10510-10580-10625 levels. However, if NIFTY trades below 10465 levels then we may
see some profit booking initiating in the market, which may correct up to 10395-10350-10280 levels.
Stocks to focus for intraday Long Birlacorp, Chambalfert, Bhel, Pcjweller, Kpit,
Recltd, KTK Bank
Stocks to focus for intraday Short UBL, Indusind Bank, Acc, Vedl, HUL