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Equity Research Report Ways2Capital 5 March 2018

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Last week Bank Nifty Mar Futures started the week on positive note but till the end of the week all of its earlier gains were erased and it closed at 24938.45 with the overall loss of 1.75% on weekly basis. Currently it is in short term bearish trend & almost witnessed 11% downfall from its lifetime high. It’s sustaining above the major support level of 24600 and taking support of 200days SMS. Technically for this week, we can expect further downside movement in it.

For this week, traders can adopt sell on higher level strategy in it and below the level of 24850 it can test the levels of 24600/ 24500 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 25002

M&MFIN:

M&MFIN FUT is looking bearish on the chart. Last week stock started the trading with positive note but it lost its positive momentum on next trading session where a fresh selling was observed and stock started showing negative trend for whole week and given closing in red. Stock has breached its major support levels of 435 and trading below this levels. Technical indicator MACD Histogram is also showing selling in the stock from higher levels.

For this week, traders can adopt sell on higher level strategy in it and below the level of 422 it can test the level of Rs. 412.20 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 427.20

DABUR FUTS started the For Quick Trial – 08962000225
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week on negative note and continued its bearish run for whole week and given closing on negative note. On daily chart it is trading firmly below its important moving averages 21, 50 and 100 (EMA) which is confirming that stock is in bearish trend. Dabur has gave breakout of its major support levels of 325 and trading below this levels.
For this week, traders can adopt sell on higher level strategy in it and below the level of 324.90 it can test the level of Rs. 319.50 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 327.30

Voltas

Last week Voltas cash moved in positive trend and made high of 628.50. As per the technical analysis of chart, Voltas broke its major resistance level of 610 last week and given closing above this resistance level with the positive RSI. For Short term, 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 624.00 it can test the level of 648.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 611.80

Kotakbank

Last week Kotak Bank moved in positive trend for the entire week and made high of 1103.85. It closed at 1095.70 with the overall gain of 1.37% on weekly basis. Technically Kotakbank broke its major resistance level of 1100 and sustaining near to those levels & 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 1104 it can test the level of 1143.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1082.00

Last week Nifty Mar Futures started the week on positive note and made a high of 10639.70 however it was unable to sustain on higher levels and closed at 10456.55 with the overall loss of 0.46% on weekly basis. After making a lifetime high of 11200 in the month of Jan-18, Nifty Mar Futs made a low of 10309.90 in the 1st week of Feb-18, which is almost fall of 8.00% from the higher levels.

Technically it’s sustaining above the major support level of 10300 with the negative RSI & also forming bearish engulfing pattern on weekly charts. It’s also trading in negative territory of technical indicators like 20Days & 50 Days EMA, RSI, Stochastic etc & for this week we can expect further downside movement in it.
For this week, traders can adopt sell on higher level strategy in it and below the level of 10430 it can test the levels of 10300/ 10200 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10505

Last week, equity benchmark index Nifty Mar Futures witnessed bearish movement in the 2nd half of the week as market was unable to overcome from the negative sentiments created by the the PnB Scam. PnB Scam turned as one of the biggest scams in the country’s corporate history and shocked the entire stock market. The scam worth Rs.11000 crore created too many questions over the Indian banking system and market reacted with negative sentiments of investors.

Nifty traded with a PE Ratio range of 25.95 – 25.59 during the week and this range increased slightly last week. Net FII & DII activity remained sideways during the week as investors were fear full in current market scenario.
On Macroeconomic front; data like Federal Fiscal Deficit, Infrastructure Output, GDP Annual, GDP Quarterly etc were released and provided mixed reaction to the market. For this week, economic data like FX Reserves, USD and Nikkei Services PMI (Feb) coupled with the FII & DII activity will provide further direction to the market.

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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

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