Epic Research Daily Equity Report Of 31 July 2017


In July expiry Nifty had one sided rally but the intraday range was very narrow, on daily chart many of the time it finished with reversal sign but in every dip it bounced with fresh buying because of supporting Q1 number of index heavyweight so the trend will be continue and every dip will be buying opportunity technically stop loss will be 9830 buying level will be 9950 target 10200. spot level .


Bank Nifty has psychological resistance around 25K which was respected in previous week since the support is 24500 so we can see trade in this 500 points range so buy around 24500 with stop loss of 24200 target 25000.


PFC moving in price channel line and created support at 121 which was respected many times and the RSI has positive divergence and on daily chart it created bullish engulfing pattern so it can be buy around 122 for target of 130 with stop loss of 117.


IOC moving in falling wedge pattern and coming near to long term support level while RSI also has positive divergence as well as the both wedge resistance and support line is becoming close as well as it closed near to support line so we can see a bounce back up to 375 from the level of 360 so wait and buy in dip with stop loss of 350 for target of 375 .

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