Capvision Weekly Equity Newsletter 9-2-2015

MARKET WRAP FOR NIFTY & BANK NIFTY
Nifty:-
This week nifty ware trading below the previous week close and down for correction and profit booking. In fourth trading day nifty shown high volatility to take a high of 8838 and close at 8698. Nifty take supports of EMA 13, so recommendation for nifty to short for 8600-8500 to maintain SL above previous week high.
Indicators MADC and RSI shown breakouts from 278 and 70.

Bank Nifty:-
This week Bank nifty ware down and trading below the level of previous week close. And continual down to 18825 in correction made. It has break a channel which has been generated since sept-14.on Monday bank nifty ware positive a little bit, then after continual profit booking seen at there, close 18786. So recommendation for bank nifty to short for 18900-19500.sl-20100.
Indicators MADC and RSI are down to 1126 and 70.


Stock Recommendation
Nifty:-
Date: 09/02/2015
Call: SHORT
CMP: 8665.80
Initiation Level: 8700
Book Profit (Level 1): 8600
Book Profit (Level 2): 8500
Stop Loss: 8850
Conviction Level: moderate risk
Reasoning: CORRECTION
Short term Trend: CORRECTION
Medium Term Trend: Up
For the long term Traders: long in deep.
For Aggressive Traders: sell on rise
Support: 8600-8400
Resistance- 8900 10069-10454-10816
Duration: 4-5 Days
Bank Nifty:-

Date: 09/02/15
Call: SHORT
CMP: 18877.85
Initiation Level: 18900
Book Profit (Level 1): 18750
Book Profit (Level 2): 18500
Stop Loss: 20100
Conviction Level: moderate risk
Reasoning: correction
Short term Trend: correction
Medium Term Trend: UP
For the long term Traders: long in deep.
For Aggressive Traders: Sell on rise.
Support: 18500-18000
Resistance- 20100 10069-10454-10816
Duration: 4-5 Days

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