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The index is likely to enter into a corrective trend - Market Strategy Aug 31, 2018 - Share India Securities Ltd

Posted On: 2018-08-31 08:56:08

Mr Abhinav Gupta, President, Capital Markets, Share India Securities Ltd, "FnO settlement day saw a quite but negative trend as most stocks witnessed further profit booking. Nifty ended 15 points lower at 11677. A small black candle was formed as Bears remained in command. Following strong rally of almost 1200 points over last two months, the rally seems extended. Moreover, fears of rising CAD and Fiscal Deficit and weakness in INR are cause of big worries in short term The index is likely to enter into a corrective trend once the crucial support of 11595 on the lower channel line is violated decisively. Next support lies at 11560 and any attempt to pull back may invite fresh selling pressure. 11700-11740-11760 acts as strong resistance range."

Market Strategies

NIFTY - 11677

Buy Nifty 27 Sep 11600 PE at 85 range s/l blw 70 tgt 110-120

BANKNIFTY - 28103

Buy Bank Nifty 6 Sep 28000 PE at 85 (cmp 101) range s/l blw 65 tgt 120

TRADE WIZARD

Hindalco - Buy
Lupin - Buy
Titan - Sell

Share India Securities Ltd, a leading knowledge and technology driven financial services group, is engaged in the business of equity broking, investing and trading activities for the last 24 years and has now expanded its operation into mutual funds, NBFC, merchant banking and commodity markets. The Company became 200th SME Company to get listed on BSE SME Platform on 5th October 2017. The company script has been included in the BSE Group -1 securities by Bombay Stock Exchange. The Company is in the process of establishing its presence in western and central India and is developing a distribution centre for various products offered by Share India to all the clients. The Company currently enjoys strong presence in North India with its business center in Uttar Pradesh, New Delhi, Rajasthan, Punjab and Haryana. Share India also has significant business operations in Maharashtra and Andhra Pradesh. The Company currently has a network of around 361 AP's/Sub brokers registered with it spread all over India catering to the needs of our clients.


Source: Equity Bulls

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