Epic Research Daily Equity Report Of 04 September 2017

NIFTY

Last trading session Nifty completed its Bullish Diamond Breakout Pattern, after a trading week market provided a good trading opportunity two days continuously. On Monday we expect Nifty to be flat but still its trend would be sideways to up, so there would good profit making opportunity ahead so we recommend to BUY NIFTY FUTURE around 10020-10050 for the TARGET of 10070- 10090 with SL of 9950 .

BANKNIFTY

If we see the weekly chart of Bank Nifty then in August expiry it created bottom around 23900 where it breached this level but again bounced from 23880 since the last week closing at 24483 with bullish hammer candle which is showing buying strength while it has resistance at 25100-25200 and support at 23900 so technically it will be good to buy in decline around 24000-24100

with stop loss of 23850 for the target of 24600 25000.

ESCORTS FUTURE

ESCORTS Fut was too bullish in last week but at the last session of week it faced strong selling pressure around 55DMA and finished with shooting star pattern due to that we can see more selling in coming session since on daily chart it has support around 635 so sell on rise 660 with stoploss of 675 for target of 640-635.

RELIANCE FUTURE

From the chart its clear that DRREDDY was moving sideways since 3 weeks but due to sector it got its pullback from bottom. It is making Bullish kicker pattern which is good sigh of reversal. So we recommend to BUY DRREDDY FUTURE around 2232-2240 TGT 2280-2300 SL BELOW 2200.

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