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Capitalways Techno Tomorrow 9th October 2018

After a harrowing last week, equity benchmarks have begun this week on a positive note. The Nifty has closed around 10,350-mark, while the Sensex ended nearly 100 points higher. The weekly price action formed the longest bear candle since Feb-16 signifying the extent of profit booking after decisive breach of 10800 contrary to our view.<br>

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Capitalways Techno Tomorrow 9th October 2018

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  1. Capital Ways Investment Adviser Connect @ +91-96177-00602 www.capitalways.com For Online Subscription Services Click Here Techno Tomorrow Date: 08/10/2018 After a harrowing last week, equity benchmarks have begun this week on a positive note. The Nifty has closed around 10,350-mark, while the Sensex ended nearly 100 points higher. The weekly price action formed the longest Dear Traders,wing our Researcaramete bear candle since Feb-16 signifying the extent of profit booking after decisive breach of 10800 contrary to our view. Going ahead we believe, Nifty has strong support in the range of 10100-10200 and we expect Nifty to hold it as daily and weekly stochastic oscillators have approached extreme oversold territory around 10 owing to 13% decline seen during last five weeks. Therefore, any dip towards 10100 should be capitalised to accumulate quality stocks in a staggered manner. Going ahead, to witness a pause in ongoing downward momentum, Nifty need to close above Friday’s bearish gap area (10600) and also needs to form a higher high - low for more than two consecutive sessions. INDEX NIFTY OUTLOOK: SCRIPT LEVEL TARGET STOPLOSS 1110 1140 1080 RELIANCE FUT BUY ABOVE SCRIPT LEVEL TARGET STOPLOSS JSWSTEEL FUT BUY ABOVE 378 385 382 SCRIPT LEVEL TARGET STOPLOSS DHFL FUT SELL BELOW 220 205 235 SCRIPT LEVEL TARGET STOPLOSS 982 940 1024 TATAELXSI FUT SELL BELOW you can also write us at info@capitalways.com Best Regards Technical Research Desk Capital ways investment adviser Indore (MP)

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