Daily

Daily Market Update Report 14-09-2017


On 12/09/2018 markets opened higher traded with choppiness to close in green. On the sectoral front FMCG, Metal and Capital Goods led the rally whereas   Realty and Telecom ended on the losing side. The advance decline ratio was in favour of declining counter (Advances = 1133/Declines = 1525).

Pattern Formation: On the daily chart, we are observing that prices have taken support at the demand zone of 11328 to 11234 and formed a bullish hammer.

Outlook: In view of the above pattern formation 11234 remains crucial support going forward. In coming trading session if Nifty trades and close above 11381 it will activate the bullish implication of the Hammer. In such scenario Nifty may test 11450 – 11480 levels. On the downside, 11300 – 11234 may act as support for the day.     

Broadly, if Nifty trades above 11381 then one can trade with positive bias for upside target of 11450 – 11500 - 11550 levels in couple of days.

Tags: Nifty Technical OutlookNifty50 Technical LevelsGuru CallsFIIs & DIIs DataRatings for stocks under our coverageNews for stocks under our coverage


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