Equity Research Report Ways2Capital 16 April 2018
This has certainly been a good week of trade for our benchmark indices; in fact, the real action was seen in the broader market that offered decent trading opportunities for market participants. The only disappointing thing was Nifty could not hold on to its position above the 10500 mark due to strong profit booking in IT and some of the banking conglomerates in the latter half.
On the Economic front, The RBI's macro numbers like inflation, CPI, WPI rates were among the major Economic events in last week. Indian consumer prices rose 4.28 percent year-on-year in March of 2018, following a 4.44 percent increase in February and compared with market expectations of 4.2 percent. It is the lowest inflation rate in five months amid a slowdown in food cost. Nifty P/E ratio was in the range of 25.76 to 26.01 for the past week.
Last week Nifty future recovered and reclaims its 10500 mark with addition of fresh buying and short covering in futures segment. On Nifty options front, maximum open interest concentration for April series is placed at 10500 call and 10200 put options. On daily charts Nifty has showed a fresh buying as it has crosses its major resistance levels of 10500 and gave closing above these levels. Short term moving averages is also supporting to the bulls as index has managed to surpass its hurdle of 50 EMA or 10400 levels on daily chart. We are expecting market may soon rally towards 10500-10650 levels. On the downside, 10350 followed by 10400 would be seen as immediate support levels.
For this week, traders can adopt buy strategy in it and above the level of 10530. It can test the level of Rs. 10650 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 10450.
Nifty Bank fut started the last week on positive note and it traded with positive sentiments for the whole week. On Friday, Bank Nifty gave closing on positive note as bulls were active. We are expecting the index to move up side inch closer towards 25400-25500 levels, where the major resistance is placed, while on downside 25000-24900 will act as a strong support for the index
For this week, traders can adopt buy strategy in it and above the level of 25400. It can test the level of Rs. 25700 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 25200.
WEEKLY FUTURES CALLS
WEEKLY FUTURES: BUY INDIACEM FUTURES ABOVE 150.40 TGT 156 SL 148
Last week indiacem open in negative trand but after it gives positive movement from here and made high of 155.45 . According to technical analysis indiacem futures break major resistance level of 150 but unable to give closing above this level. we can made long positions in indiacem above this resistance level
For next week traders can make long position in indiacem futures above 150.40 for the tgt of 156 and sl of 148.
WEEKLY FUTURES: SELL YEBANK FUTURES BELOW 307.50 TGT 301 SL 312.50.
Last week yes bank open in positive note but after that its move in negative trend in entire week and made low of 306.65 we can expect further downside movement in it
According to technical analysis YesBank able to break support level of 310 but gives closing above this level at 310.65.
For next week traders can made short positions in YesBank below the level of 307.50 for the the tgt of 301 and sl of 312.50
WEEKLY CASH CALLS:
Overall trend of the Stock is bullish for medium-long term .Currently stock is in some consolidation phase. Last week stock started on positive not and traded with bullish movement throughout the week and gave closing on positive note after giving breakout of its major resistance levels if 1300. Its bullish trend is supported by important moving averages on daily chart. Candle Pattern shows good strength in buying. MACD Histogram is placed at 23.04 giving buying signals.
For this week, traders can adopt buy on lower level strategy in it and above the level of 1330 it can test the level of Rs. 1380 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 1298.
BOMDYEING started the last week on positive note and showed good positive rally on upside. Meanwhile in other trading session’s stock remained in consolidation phase. On daily chart it showed a good consolidation on higher levels. On intraday chart stock has showed good positive movement. Stock is trading above its 21, 50 & 100 days moving averages. MACD Histogram is firmly placed at 3.36 and giving buying signals.
For this week, traders can adopt buy on lower level strategy in it and above the level of 262 it can test the level of Rs. 272 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 257.
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