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Equity Research Report 28 August 2017 Ways2Capital.pdf


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PATTERN FORMATION ( NIFTY )

Detail of Chart - Nifty traded in a very tight range and closed below 5 Day High EMA at
approx. 9870. In the near term, Nifty may face a strong Resistance at 200 Hourly moving average
at 9932, which acted as a strong Resistance in the last attempt. Nifty consolidated at the edge of
symmetrical triangle. The coming week would be very important for Nifty, which would decide
the direction of market going forward. The probable support in the Daily chart comes at 13 Hour
moving average at 9847. On the upside, Nifty may face Resistance at 200 Hourly moving average
at 9932 levels.