Last week, ASIANPAINT Futures started the week on positive note and after that it given correction from the higher levels. It made a high of 1263.85 during the week and closed 1258.85 with the overall loss of 3.40 % on weekly basis. Technically it formed Dragonfly Doji Pattern on its daily charts with positive technical indicators which is a good sign of reversal and for this week, we can expect upside movement in it.
For this week, traders can adopt buying from lower level strategy in it and above the level of 1251 it can test the level of 1291 during the week. Trades can make buy position in it by maintaining a Stop Loss of 1239.
Last Week IBULHSGFIN Oct Futures started the week with positive note and a high of 992.10 during the week. It closed at 930.70 with the overall gain of 1.85% on weekly basis. Technically its recovering from the lower levels and RSI is also crossing upside from the oversold zone. For this week, we can expect positive movement in it.
For this week, traders can adopt buying from lower level strategy in it and above the level of 950 it can test the level of 1050 during the week. Trades can make buy position in it by maintaining a Stop Loss of 931.
Last week Nifty traded in positive trend and got a bounce back from oversold zone. PE range for nifty for last week was 24.95 -26.62 and last week we saw recovery in Nifty after continuous falls from the higher level. Nifty already given recovery of 2.60% from the bottom levels and global market remain looking in mix sentiments as some indices were negative while some were positive. Last week Pharma index moved in positive movement and took part in nifty positive trend. On the other hand due to some correction in crude oil and USD, top oil marketing companies also took part in nifty positive trend given some correction from deep and showed smart recovery in stock like BPCL. IOC BPCL, HPCL etc.
On Macroeconomic front; important data like Cumulative Industrial Production, Industrial Production, Manufacturing Output etc released last week but none of them able to create major impact on the direction of the index. For this week, there is no major data is scheduled for release.
AJANTAPHARMA NSE CASH:
Overall trend of the Stock is bearish for long term . For short-medium term stock is in some recovery phase. Last week, it started on negative note but showed good buying from lower levels throughout the week. On daily chart it has gave breakout of its major trend line up side. On intraday chart it showed good positive move. If it manages to trade above the levels of 1045 than further upside move can be seen in it
For this week, traders can adopt buy on lower level strategy in it and above the level of 1045 it can test the level of Rs. 1085 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1023.

ESCORTS NSE CASH:
Overall trend of the Stock is bullish for long term . For short-medium term stock is in correction phase . Last week stock started on negative note but showed good buying from lower levels throughout the week. On daily chart it is consolidating on lower levels and forming double bottom. If it manages to trade above 605 levels than further upside move can be seen in it. In intraday it showed a good positive move.

For this week, traders can adopt buy on lower level strategy in it and above the level of 605 it can test the level of Rs. 629 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 593

Technical outlook:
Nifty:
The Nifty futures started the last week on positive note on Monday and traded with positive note for three sessions. On Thursday's trading session Index opened on a huge gap down note but soon recovered from lower levels. last session showed good follow up buying in the index , due to which it manages to give closing with 124 points or 1.20% gain on weekly basis. Last week index has successfully defended its major support levels of 10000 and manages to give closing near 10500 levels which is now acting as major resistance levels for it. If index manages to trade above the levels of 10500 levels than further upside rally can be expected in it. while down side support is placed at 10150 levels. On option front, maximum Put open interest is at 10,000 strike while maximum Call is at 11,000 strikes.

For this week, traders can adopt buy on lower level strategy in it and above the level of 10,510. It can test the level of Rs. 10,660 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10,410.
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