Equity Research Report Ways2Capital 12 March 2018


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Last week, Bank Nifty Mar Futures made a low of 24085and closed at 24310. On weekly basis, Bank nifty breaches


Bank Nifty

Last week, Bank Nifty Mar Futures made a low of 24085and closed at 24310. On weekly basis, Bank nifty breaches the major support level of 24500 and moves below these important support levels with negative RSI. It’s also sustaining below the important technical indicators like 20Days & 50Days SMA and technically for this week, we can further expect downside movement in it.

For this week, traders can adopt sell on higher levels strategy in it and below the level of Rs.24275, it can test the level of Rs.23975/ 23675 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.24475

 

HEXAWARE started the week on positive note on Monday but was unable to continue its bullish run in next trading session. In mid of the week stock again started to show some strength which lead it to close the week on positive note. On daily chart it is trading firmly above its important moving averages 21, 50 and 100 (EMA) which is confirming that stock is in bullish trend. On intraday chart stock has showed a good consolidation on higher levels.

 

For this week, traders can adopt buy on lower level strategy in it and above the level of 367.60 it can test the level of Rs. 379.50 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 360.60

Technically TV18BRDCST is looking bullish on the chart. Last week stock started the trading with some sideways movement as it was trading in a range of 59-62 for most the week. In last trading session stock showed good positive move and given closing in positive note. Stock has crossed its major resistance levels of 62 and trading above this levels .On intraday charts Technical indicator moving averages is also indicating buying in the stock from lower levels.

 

 

 

For this week, traders can adopt buy on lower level strategy in it and above the level of 64 it can test the level of Rs. 67 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 61.70.

Exideind

Last week Exideind Mar Futures started the week in negative note and after that traded higher for the entire week. It also broke the major resistanchttp://www.postafreepressrelease.com/postafreepressrelease/pressrelease_save.aspe level of 210 during the week and able to give closing above this resistance level. It still sustaining on higher level with oversold RSI & positive bias 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 214.50 it can test the level of 218.50. One can make buy position in it by maintaining a SL of 212.50

 

Yes Bank

Last week, Yes bank started the week in negative note and moved in negative trend. For the entire week, it breaches major support levels of 300 but was unable to give closing below it. For this week, we can expect downside movement in the stock.

 

For this week traders can adopt sell on higher level strategy in it and below the level of 302 it can test the level of 295 on the downside. One can make sell position in it by maintaining a SL of 306.

 

Nifty Analysis

 

Fundamental Outlook

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The week turned out to be a decider as we saw Nifty finally coming out of the recent congestion zone. The sell off

Equity Research Report Ways2Capital 12 March 2018

Equity benchmarks extended losses for the second consecutive week to shut shop at 10227, down 232 or 2.2%.

9424.20

was intense across broader markets as Nifty Midcap & small cap dropped over 3.8% & 4.5%, respectively.

Fundamentally nifty is still looking bearish due to continuous negative trends from FII & DII. As far as FIIs activities://

are concerned we saw mixed positions forming in system; however, majority of the positions formed were on the

short side. Nifty traded with a PE Ratio range of 25.40– 24.79 during the week and sustaining in this range from

the last couple of weeks

 

Technical Outlook

The weekly price action continues to form a significant bear candle along with small lower shadow, indicating

accelerated selling pressure on the breach of 10300 followed by breather near 200 DMA range of 10100 -10130,

as index recovered over 150 points from week low of 10141.

 

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