Posts | Comments

Equity Research Report Ways2Capital 4 June 2018

Contact Us
ways2capital
515,516 shagun arcade
Indore
Madhya Pradesh 452001 
India
Phone:0731-6626771
info@ways2capital.com

Bank Nifty:

Last week Bank Nifty Futures started the week on positive note and continued its bullish run as index rallied more than 300 points on opening day on the week. On Thursday, due to FnO expiry, index showed a good positive move and crossed its major resistance levels of 27000 but could not give closing above these levels. On weekly basis index gave closing on positive note with 426.90 points gain. Major resistance is placed at 27058 & 27300 levels while support is placed at 226500 & 26200 levels.

For this week, traders can adopt buy on lower level strategy in it and above the level of 26930, it can test the level of Rs. 27230 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 26730.

Nifty Futures

Nifty future started the last week on positive note and traded with high volatility during the week. It closed the last day of the week with a small bearish candle formation whereas the weekly price action resulted in a Spinning Top kind of indecisive formation. On the options front, maximum Put OI is placed at 10,600 followed by 10,200 strikes while maximum Call OI is placed at 11,000 followed by 10,700 and 10,800 strikes. Now, it has to continue to hold above 10,650 zones to extend its gains towards 10,780 then 10,888 zones while on the downside supports is seen at 10,620 levels.

For this week, traders can adopt buy on lower level strategy in it and above the level of 10751, it can test the level of Rs. 10890 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10649.

Indian equity markets went through a highly volatile week amid multiple global as well as domestic events. Futures & options expiry was also the reason for such a huge volatile week. Sentiment got a fillip after India’s GDP grew 7.7% in Q4, the fastest in nearly two years, signaling a quick turnaround. HDFC Bank, Kotak Bank & HDFC lead revival post last week’s flat closure, Nifty up 1%. Indian economy extends recovery during 4Q, GDP at 7.7% (yoy). All eyes on monsoon progress, IMD predicted normal rains. For the week, Nifty and gained by 0.8%.

On the Economic front USD/INR closed on negative note as Indian Rupee once again showed some positivity for consecutive second week. Nifty P/E ratio was in the range of 27.23 to 27.01 for the past week. On Macroeconomic front; for this week, important economic data like Cash Reserve Ratio, Interest Rate Decision, and Reverse REPO Rate will provide further direction to the market.

IGL Cash
IGL is in overall bullish trend & currently stock is in some correction phase. Last week stock started on positive note and traded with positive bias throughout the week. On daily chart, stock is trading near to its major resistance levels of 270 and has also formed Inverse H&S price pattern. For this week, if it manages to trade above the levels of 270, then further upside movement can be seen in it.

For this week, traders can adopt buy on lower level strategy in it and above the level of 270.10 it can test the level of Rs. 281 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 264.10

GLENMARK Cash

GLENMARK is in overall bearish trend & for short term, we can expect short covering in it from the lower levels. Last week stock started on negative note but from lower level we saw good buying in from lower levels. On daily chart stock has formed Cup & handle price pattern with the positive indicators and if it manages to sustain above the level of 548.00, then upside movement can be seen in it.

For this week, traders can adopt buy on lower level strategy in it and above the level of 548.50 it can test the level of Rs. 568.40 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 536.40

Reliance Futures

Last week RELIANCE Jun Futures started the week in negative note and made low of 906.85 but till the end of the week, all of its earlier losses were erased and it closed at 930.40 with the overall gain of 0.85% on weekly basis. Technically RELIANCE Jun Futures broke the important resistance level of 930.00 and sustaining above the same and for this week, we can expect further upside movement in it .

For this week, traders can adopt buy on lower level strategy in it and above the level of 940.00 it can test the level of Rs. 955.00 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.932.00

BPCL

Last week BPCL Jun Futures started the week on positive note and made high of 410.10 during the week. It remained positive for the entire week and closed at 403.60 with the overall gain of 5.65% on weekly basis. Technically BPCL is sustaining near to the trend line breakout coupled with the RSI going to enter into the positive zone and for this week, if it sustain above the level of 400, then we can expect further upside movement in it.

For this week, traders can adopt buy on lower level strategy in it and above the level of 411.00 it can test the level of Rs. 419.00 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.406.00

For Quick Trial – 08962000225
Or mail us here: info@ways2capital.com 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

Leave a Reply