Daily Equity Report of 9 April 2018 by Epic Research

NIFTY

Last week NIFTY Future closed on positive note and gaining around 2.10%, and previous week nifty again respect 200 DMA it’s major support level then after that we have seen strong bull back above this level and finally closed with bullish candlestick in weekly chart, So according to option data and nifty daily and weekly chat we have seen some bounce back ahead this level upcoming week ,So we can follow buy on decline strategy and it’s good according to risk reward ratio, So we advise you to buy around 10150- 10170 for the target of 10300-10450 with SL of below 10100.

BANKNIFTY

Last week BANKNIFTY Future more outperformed compare to nifty future with help of both PSU and pvt Banks rally and closed the week on positive note gaining around 2.50% and last week made a low around 24100 it’s major support level and last week show strong buying near this level and closed with bullish candlestick in weekly chart , S0 it’s clearly show bullish signal So we can see more upside ahead this level, So we can follow buying strategy it will be good to buy on decline around 24200-24225 for the target of 24300-25400 with SL of below 24100.

BAJFINANCE FUTURE

After consolidating in a range of 1794 –1745 the stock has given a breakout with good volume . On the upside the reisitance levels are 1950 and around 1978 in futures and on the downside 1794 is a support level below which it is 1745 is another level but as per the market strength we advice you to buy on high strategy would be good to follow so BUY BAJFINANCE future above 1950 tgt 1970-1990 sl below 1935.

VGUARD FUTURE

As the chart indicating VGUARD Future moving in price range which also followed in last week after making low of 222.15 it bounced up to the 236 which is near to resistance zone of 240, so we would advise to sell it on rise around 235-236 with stop loss of 242 here we can see again 225 level in next trading session.

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