Equity Research Report Ways2Capital 18 Sep 2018


Posted September 18, 2018 by w2cstocktips

YESBANK Sept Futures started the week on negative note and after that it witnessed bearish movement for the entire week.

 
YESBANK Sept Futures started the week on negative note and after that it witnessed bearish movement for the entire week. It made a low of 323 during the week and closed at 323.45 with the overall loss of 6.34% on weekly basis. Technically YESBANK Futures in the bearish trend but for this week, we can expect short covering from the lower levels as open interest and volume giving the sign of recovery.

For this week, traders can adopt buy on lower level strategy in it and above the level of 331 it can test the level of 351 during the week. Trades can make buy position in it by maintaining a Stop Loss of 324.00
Last week, RITES started the week with down side correction but after it gave up side movement. It made a high of 288.50 during the week and closed at 261 with the overall loss of 10.30% on weekly basis. Technically it’s recovering from it's correction face and forming bullish harami pattern and for this week, we can expect further long unwinding in it.

For this week, traders can adopt buy on lower levels strategy in it and above the level of 271 it can test the level of 284 during the week. Trades can make buy position in it by maintaining a Stop Loss of 262

JUBLFOOD Sept Futures started the week on negative note and after that it witnessed bearish movement for the entire week. It made a low of 1398.15 during the week and closed at 1415.35 with the overall loss of 9.11% on weekly basis. Technically JUBLFOOD Futures in the bullish trend but it witnessing profit booking from higher levels and for this week, we can expect downside movement in it.

For this week, traders can adopt sell on higher level strategy in it and below the level of 1406 it can test the level of 1378 during the week. Trades can make sell position in it by maintaining a Stop Loss of 1426

Last week, RALLIS started the week with down side movement but in the later part of the week, it's recovered from lower levels and given the up side movement for the remaining week. It made a high of 209.40 during the week and closed at 201.50 with the overall loss of 3.50% on weekly basis. Technically it’s given trendline breakout with consolidation from the lower levels and for this week, we can expect upside movement in it.

Overall trend of the Stock is bullish for long term . For short-medium term stock is in some consolidation phase. Last week stock started on negative note but soon stock started buying from lower levels. Stock has gave breakout of its major resistance levels on daily chart and trading above this levels . It can show good positive move in coming weeks if it manages to trade above 416 levels.

For this week, traders can adopt buy on lower level strategy in it and above the level of 416 it can test the level of Rs. 428 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 407.

INFIBEAM:
Overall trend of the Stock is bullish for long term . For short-medium term stock is in bullish phase . Last week stock started on negative note but soon stock started buying from lower levels. On daily chart it has formed flag price pattern on higher levels with good consolidation. If it manages to trade above 238.60 levels than good up side 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 238.60 it can test the level of Rs. 248 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 233.60

Fundamentals:

After two continues worst day in Indian market, Last couple of good sessions inspired a nice recovery to recoup early loss. But Nifty drops lower for second consecutive week in Fears of US-China trade war continue to weigh on markets. Rupee marks fresh record lows, hit by weak EM currencies, oil price hikes , India’s July industrial production growth drops to 6.6% (6.9% in June). Friday's session was somewhat encouraging for market as rupee surged by another 34 paisa to close at a one-week high of 71.84 against the US dollar on positive macro data and hopes of policy intervention by the government to defend the volatile currency. A combination of positive macro-related developments after the country's industrial production grew at 6.6 percent in July and retail inflation cooled to a 10-month low of 3.69 percent in August, strengthened the rupee sentiment. Nifty’s swift recovery from 50-day EMA ensures immediate floor near 11,250. But, fortunately, the end was good for the week after USD/INR cooling off a bit and hence, Nifty managed to recoup some losses to close Above the 11500 mark.



Technical outlook:

Nifty:

The Nifty futures started the last week on positive note on Monday and traded with positive movement, but index changed its direction on Tuesday as it lost more than 120 points for next two continues days. Last two sessions was good for index as it managed to recover most of the losses to give closing with 21 points loss on weekly basis. The index held on to its crucial support placed at 11,460 levels and closed sharply higher, forming bullish candle on the daily candlestick charts and 'Hammer' pattern on the weekly charts. Now it has to hold above 11,500 levels to extend it gains towards 11,620 then 11,680 while on the downside medium term support is seen at 11,466 followed by 11,415 levels. On option front, maximum Put open interest is at 11,400 followed by 11,000 strike while maximum Call is at 11,800 then 11,600 strikes.

For this week, traders can adopt buy on lower level strategy in it and above the level of 11560. It can test the level of Rs. 11670 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 11460.

Bank Nifty:

The Nifty Bank index started the last week on negative note and traded with bearish movement for most of the week bearing last trading session where it showed some positivity. But still due to heavy losses in first couple of the days index gave closing on negative note on weekly basis with loss of 304 points. Going ahead, index has formed Dragon fly Doji candlestick bullish reversal pattern on lower levels and if index manages to give closing above the levels of 27300 then it can show further upside movement and can test levels of 27500. On down side it has a major support of 27000 and violation of this levels could led further selling in the index.

For this week, traders can adopt buy on lower level strategy in it and above the level of 27300. It can test the level of Rs. 27500 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 27150.

For Quick Trial – 08962000225
Or mail us here: [email protected] or visit http://www.ways2capital.com/free-trial.php
Contact 0731-6626222
Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
For Reports And Tracksheets - http://www.ways2capital.com/downloads.php
 
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By ways2capital
Phone 7415072668
Business Address 515,516 Shagun Arcade Vijay Nagar
Country India
Categories Baby , Sports , Transportation
Tags accurate stock tips , shares tips , share tips
Last Updated September 18, 2018