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Nifty outlook and recommendations for 07'Dec 17

Way2wealth | 07 Dec, 2017  | Follow Author | Add to my Favourites 
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The Nifty Bank index too opened lower in tandem with the benchmark indices and remained under pressure throughout the session. Post policy announcement, the selling pressure accelerated as a result index ended the session well below 25000 marks. Looking at the hourly chart, index formed a bullish divergence pattern. On a daily chart, index has an immediate support near its daily swing low of 24800 also the daily 89-EMA comes near 24700. On the other side, 24985 will act as an intraday resistance above which the next resistance comes near 25115.

Stocks For Today

Name             Entry                         Target      Stop loss

GNFC             Buy Around 450         471           441.50

BATA INDIA    Buy Around 729          760            713

BAN KINDIA  Buy Above 184.50       192            180


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417.50 -17.80
416.80 -19.10
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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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