Epic Research Daily Equity Report Of 04 October 2017

NIFTY

GDP slow down fear shown onto the market into last week Nifty faces strong selling pressure and after gap down opening at the starting of week it slipped around 270 point in a week but around 9690 it given some bounce which was low in July. Since on chart it is coming near mid term support level as well as on the first day of October series finished with gravestone doji formation so below 9680 we can see strong selling up to 9500 for that sell will be good in bounce back around 9850-9875 with stop loss of 10010.

BANKNIFTY

PSU’s NPA is still concern for banking sector due to that banks continuously coming down side and making pressure on to the market as well as recapitalization is also a big issue where the very huge amount required for these while the economy and inflation number is not good so the we can not expect any big bounce in bank sector. So we recommend to SELL BANK NIFTY AROUND 24200 TGT 24100-24000 SL ABOVE 24300.

LICHSFIN FUTURE

Looking at the daily chart its clear that its reversing from its crucial support level, there are two important support level ie., 608 and 628, today it may give a low start or flat move, rbi credit policy would have a very good impact if rate cuts then we can get more upside move so we advice to BUY LICHSFIN AROUND 638-643 TGT 648-658 SL BELOW 628.

MOTHERSUMI FUTURE

MOTHERSUMI Future too volatile it is moving near life time high but as the market breached we saw strong profit booking into mohtersumi but at the closing of the last week it finished with doji candle on weekly chart since market is still looking bearish so short sell will be good around 343-345 for target of 336 -325 with stop loss of 350.05. (OPEN POSITION).

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