Epic Research Daily Equity Report Of 30 August 2017

NIFTY

On 28 Aug 2017 Nifty created a indecision by forming a Doji candle since Bulls and Bears were equally pulling and dragging the market their side. But due to the geopolitical tension between North Korea and Japan we got a strong confirmation bearish candle for futher downside move. On the Last trading session major Nifty 50 stocks like Reliance, Sunpharma,HDFC, NTPC etc led to 116 down-ward movement. So we recommend is to sell Nifty Future below 9780 for the Target of 9730-9680 with SL 9840 .

BANKNIFTY

Just like Nifty Bank Nifty has also given a strong confirmation bearish candle for its further downside move, major stocks likes ICICIBANK, HDFCBANK, SBIN dragged Bank Nifty 248 downside. So we recommend is to sell Bank Nifty future below 24040 for the Target of 24000-23960 with SL 24150 .

DHFL FUTURE

Last Week Last week DHFL future show good strength, and cross major resistance level and close near this level with bullish candle stick 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 around 468-470 for the target of 480-495 with SL of 458.

PETRONET FUTURE

Last week PETRONET future we can saw outperformed and made a new life time high but huge selling pressure at higher level and ended below resistance level with with bearish candlestick in daily chart. and open interest has increased short side, We expect the addition of short positions to eventually go to downside ahead. So we advise you to sell around 234-235 for the target of 225-215 with SL of 245.

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