Weekly Equity Research Report by EPIC - 10 FEBRUARY 2014

NIFTY WEEKLY TECHNICAL LEVELS

Currently Nifty is taking strong support at 5957 and 6023 of 38.2% and 33.33 % retracement level drawn from low of 5108 to6480 and Nifty will face strong

resistance at 6156 .On weekly closing basis nifty showing weakness .This week nifty formed hammer pattern in weekly chart. This is the reversal pattern. We need to

get confirmation on next week otherwise this pattern is invalid. Breaking below of 5957 on weekly closing basis would result the target price of 5800 – 5780 levels . For

upside nifty will show strength only closing above 6156 level on weekly closing basis.

BANK NIFTY FUTURE CHART

Bank Nifty breaks below the 50% retracement (10349) value drawn from

8349 to 12349 and not able to close above the 50% retracement level. Next support would be 9877 -9683 levels .In daily chart bank nifty formed head and shoulder pattern still H & S pattern is valid and also bank nifty closed below 200 day sma in weekly chart it showing weakness exist in bank nifty .For Upside Bank Nifty would face strong resistance at 200 week sma (10790) and at up trend line .Use Sell on rise

strategies in bank nifty .

STOCKS DAILY TECHNICAL LEVELS

Sesa Sterlite forms a negative divergence pattern in weekly view and formed the doji pattern .This indecisive pattern price ill move in either direction go long 204 on

weekly closing basis and short below 180 on weekly closing basis would result the target price of 172-166 levels .172 will act as strong support ( In daily chart 200 day

sma comes at 172 ).

STOCKS DAILY TECHNICAL LEVELS

For past eight week BHEL is trading in the range of 181 – 152 and go short once breaks below 152 level on weekly closing basis would result target price of 142. In

weekly chart RSI crossed over happens this indicates weakness will continue further and Go long when closing above 182 level

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