Stocks for Tomorrow
& Nifty Outlook

Stocks

Stock Ideas  18/9/2018

CESC - Stock has shown good strength with an average volume on the daily chart. It gave closing above the 200 EMA on the daily chart. We recommend buying from the current level for the target of 1020 with the stop loss of 980.
 
INFIBEAM - Stock formed three white soldier pattern on the daily chart with an average volume. It also gave closing near to days high. We recommend buying from the current level for the target of 242 with the stop loss of 235.
 
JSWSTEEL - Stock is performing consistently well with good volume, it has broken its previous 52 weeks high marginally and closed near to days high. We recommend buying from the current level for the target of 420 with the stop loss of 407.

Nifty Outlook

Index Outlook 18/9/2018

Nifty fails to breach previous swing high as the correction continues. Nifty failed to surpass its previous swing high placed at the zone of 11550 - 11560 as bears take control of the falling downward channel on the daily scale.
 
Nifty has been in a downward channel on the daily chart and it becomes very critical for the prices to stay above this channel to put bulls back in the game. The lower top and lower bottoms continued while we expect Friday's top at 11523 to be a lower top. The downward move shall be continued to a lower trendline which comes at 11160 - 11120.
 
we maintain a cautious stand while continue to remain bearish in short-term with sell on highs strategy.