1 / 1

Daily Technical Report:22 March 2018

Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives

axisdirectofficial
Download Presentation

Daily Technical Report:22 March 2018

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Technical View (Equity) Daily call Index CMP % up/dn S2 S1 P R1 R2 10,155.25 0.31% 10075 10115 10170 10210 10265 Nifty 33136.18 0.42% Sensex 32905 33020 33185 33305 33470 Nifty Daily Chart Comments: Nifty opened on a positive note and remained positive in the first half but heavy selling in the second half led the index lower. Nifty closed at 10155 with a gain of 31 points. On the daily chart, the price movement has taken a shape of small bearish candle carrying either side shadows representing volatile session. It has formed higher High-Low formation compare to previous session which remains a positive sign. . The index is moving in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 10180 level it would witness buying which would lead the index towards 10200-10230 levels. Important Supports for the day is around 10130 However if index sustains below 10130 then it may witness profit booking which would take the index towards 10100-10070 levels.. Nifty is trading below 20 and 50 day SMA's which are important short term moving average, indicating negative bias in the short term. Nifty continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. However momentum oscillator Stochastic has turned positive from the oversold zone indicating a possible consolidation or a up-move in the near term. The trend deciding level for the day is 10170. If NIFTY trades above this level then we may witness a further rally up to 10210-10265-10305 levels. However, if NIFTY trades below 10170 levels then we may see some profit booking initiating in the market, which may correct up to 10115-10075-10020 levels Stocks to focus for intraday Long Radico, Ghcl, Jublfood, Sunteck, M&MFin, Ntpc, ExideInd., Bharatfin Stocks to focus for intraday Short ICIL, UBL, GodrejInd, KSCL, SunTV

More Related