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10 Dec 2016 | 10:43 PM
Research Report
Weekly

Equity Research Report: Religare Weekly Equity

Nifty index traded in narrow range in the first three sessions of the week; however, good amount of buying witnessed on Friday, led to strong close in the end.
29 Jan 2016 | 06:00 PM

  • We strongly believe, 7550 spot is crucial level and sustenance above the same will open the gates for 7750 levels. Meanwhile, impact of quarterly earnings will continue and that will result in stock-specific action. Hence, it is advisable to select stocks very carefully, especially for trading.
  • Technically, Nifty index tested the lower band of the declining channel formation in the passing week (can be seen in the weekly chart). It is generally observed that such developments are followed by a bounce back. The same was witnessed in the passing week where the benchmark index rallied close to 2%.
  • The recent rise has shifted near-term focus in favor of the bulls with 7750 as immediate target whereas, 7300 will act as support if the up move does not lasts.
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