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Equity Research Report Ways2Capital 7 Aug 2018

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Technical outlook:

Nifty:
A new week and a new life time highs, that was the last week for our Indian Equity markets. Nifty seems to have climbed the short term resistance wall of worry as it rallied ahead closing at fresh all-time highs. Index started the last week on positive note and continued its bullish run till mid of the week , where Index seen some correction from higher levels. Thursday’s session was fully dominated by the bears and index showed some sharp fall from higher levels but last trading session again give the control to bulls as index managed to gave closing on positive note on weekly basis. The index formed strong bullish candle on the daily candlestick charts. The sharp rebound after correction indicated the market may be heading for higher levels at around 11,450-11,500 levels but it may see some consolidation before moving towards these levels. Major resistance are placed at 11450-11500 while down side support is placed at 11317-11234 levels. On option front, maximum Put open interest was seen at 11,000 strike while maximum Call OI was at 11,500.

For this week, traders can adopt buy on lower level strategy in it and above the level of 11410. It can test the level of Rs. 11550 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 11299.

Bank Nifty:
The Nifty Bank index opened on positive note on Monday but seen some correction for next three trading sessions. It rallied higher on Friday to end the weekly session on positive note. It formed a strong Bullish Candle on daily basis but in weekly it shows some indecisiveness. Going ahead, if index manages to sustain above the levels of 27875 then it can extend its up move further till 28100-28200 levels . Bank Nifty has crucial resistance of 27,872 levels a break above which could trigger a fresh breakout, while 27,400 levels remains an important support levels for the Bank Nifty index.
For this week, traders can adopt buy on lower level strategy in it and above the level of 27850. It can test the level of Rs. 28150 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 27650.

After opening sharply higher, nifty index extended rally as the week progressed and continued its bullish trend seen in the previous week to end at fresh record closing high on Friday. The index formed strong bullish candle on the last session of the week. The renewed trade war tensions between world’s largest economies US and China spooked the market. The rally was led by value buying after recent consolidation. Although latest policy released by RBI on Thursday tried to create pressure on the index but the impact didn’t last for longer time. All sectoral indices ended in the green with Bank, Financial Services, FMCG and Metal indices rising over a percent each. Markets witnessed a stellar rally backed by a strong move in the financial stocks. Nifty closed on a record high with Axis Bank, Kotak Bank, ICICI Bank and HDFC Ltd gaining 5%, 2.1%, 2.2% & 2.4% respectively at the close.

STAR:
Overall trend of the Stock is bearish for long term . For short-medium term stock is in recovery phase. Last week stock started on positive note and traded with sideways movement throughout the week. Stock is taking recovery from lower levels on daily chart . It can show good positive move in coming weeks if it manages to trade above 400 levels. On intraday chart it has showed a good buying from lower levels.
For this week, traders can adopt buy on lower level strategy in it and above the level of 403 it can test the level of Rs. 418 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 395.

SIEMENS:
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 positive note and traded with positive movement throughout the week . On daily chart it has gave breakout of its major resistance level of 1015 and trading above this levels. It has also gave breakout of its down word trend line. 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 1028 it can test the level of Rs. 1058 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1008

TITAN Aug Futures is in recovery phase & almost recovered 18% in last 20 days. Last week, it started the week on positive note and continued the same for the entire week. It made a high of 944.65 and closed at 921.10 with the overall gain of 3.5% on weekly basis. Currently its consolidating above the major psychological level of 900 with the positive technical indicators and for this week, we can expect further upside movement in it.

For this week, traders can adopt buy on lower levels strategy in it and above the level of 913.00 it can test the level of Rs. 943 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 902

Last week, TATAGLOBAL Aug Futures started the week on negative not and continued the same for the most part of the week. It made a low of 229.10 during the week and closed at 236.70 with the overall loss of 3.17%. Technically it’s took the support of major support level of 228 and recovering from lower levels with positive technical indicators.
For this week, traders can adopt buy on lower levels strategy in it and above the level of 240.00 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. 236

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