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Sensex: 34142.1 +322.60 Gold: Rs.30514.00
Nifty: 10491 +108.30 Silver: Rs.38380.00
Nifty outlook and recommendations for 30'Nov 17 -
Nifty outlook and recommendations for 30'Nov 17
Way2wealth | Published: 30 Nov, 2017  | Source :

Nifty Spot

On Wednesday, the Nifty index continued its consolidation and traded within a narrow range. In the process, index ended another session on a flat note. Looking at the hourly chart, index breached the lower band of rising channel formation hence any sustain move below yesterday’s low may attract some profit booking pressure. At this juncture, we maintain our cautious view and expect some correction in the near term. For the day, 10340 continue to act as an immediate support. Any break below this level will pull index lower towards 10300 / 10260 levels respectively. Higher side, 10400 will act as a stiff hurdle.

Bank Nifty Spot

Yesterday, the Nifty Bank index too traded sideways in line with the benchmark indices and eventually ended the session with a nominal loss of 0.20%. Looking at the daily chart, we are seeing series of narrow range candles which indicates indecision among market participants. At present there is no major change on chart structure and index likely to extend its consolidation hence traders are advised to concentrate on stock specific trades. For the day, 25710 / 25630 are intraday support whereas 25880 / 26000 are immediate resistance.

Stocks For Today

Name                      Entry                        Target             Stop loss

TATASPONG       Buy Around 960                985                   947

HEXAWARE       Buy Around 335                349                   328

ESCORTS          Buy Around 699                733                   685

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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.