Weekly Equity Research Report by EPIC - 17 FEBRUARY 2014

NIFTY WEEKLY TECHNICAL LEVELS

Currently Nifty is taking strong support at 6023 off 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 made high of 6128 and low of 5992 trading in the range of 135 points (Moving between

two fibonacci retracement levels) and taking strong support at 41 weekly sma (5997)

Breaking below 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 .This weekly Bank Nifty made high of 10421 and not able to close

above the 50% retracement level (10349) which acts as strong resistance . 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 banknifty 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).

STOCKS DAILY TECHNICAL LEVELS

S2 – 370.00 ,S1 –360.00 ,CLOSE – 388.80 ,R1 –394.00 ,R2-405.00

SCRIPT NAME: TATAMOTORS,CMP: 388.80 ,ACTION – BUY ,STRATEGY – AROUND 391 ,STOPLOSS – 380 ,TGT – 402-405

STOCKS DAILY TECHNICAL LEVELS

S2 – 129.50 ,S1 –135.00 ,CLOSE – 147.75 ,R1 –152.00 ,R2-158.00

SCRIPT NAME: BHEL ,CMP: 147.75 ,ACTION – SELL ,STRATEGY – AROUND 145 ,STOPLOSS – 152 ,TGT – 140-135

Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.

Our research is based around these services:

Derivative market trading

GET FREE TRIAL +91 731 6642300

Or mail us here: [email protected] Or visit our site that is http://www.epicresearch.co/

or

https://www.epicresearch.co/research/weekly-reports/derivatives