Epic Research Daily Equity Report Of 21 August 2017


After correcting in August first week Nifty maintain 9710 level at the starting of last week Nifty started with gap up at 9776 and hold this level as weekly low but at upper side it has strong resistance at 9950 where it made high 9840 and slipped around 100 points if we look on weekly chart it created bullish harami candle sticks pattern but RSI has negative divergence so around resistance level 9950 it can be sell around 9890-9900 with stop loss of 9950 for target of 9800-9750.


As compare to Nifty index bank nifty faced much selling pressure in the last week since it July expiry it finished with evening star pattern on weekly chart while in last week around 24500 it breached sharply according to chart it has support around 23500 since it finished at 24097 so down side can be see up to 23500 for that it can be sell around 24100-24150 for target of 24000 23800 with stop loss of 24300 .


Last Week HINDUNILVR future respect 1150 level it’s strong support level and close above this level with bulllish candlestick in weekly chart. and last session of previous week future given out performance and close with bullish candlestick in daily chart. And since last session it rose with rising OI in long side , So we may see sharp run up ahead for that it will good to buy above 1200 for target of 1210-1225 with SL of 1190 .


Last week JUSTDIAL future show good strength, and last week HDFCBANK good bounce back at lower level and close near weekly high with bullish candlestick in weekly chart, and stock show continued buying at lower levels. So it’s good we can follow buying strategy. We may see rise for that it will be good to buy above 370 for the target of 376-385 with SL of 362.

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