Equity Research Report Ways2Capital 13 NOV 2018

 

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Last week, TITAN Nov Futures started the week on negative note and continued the same for the entire week. It made a low of 841.30 during the week and closed 848.15 with the overall loss of 2.73% on weekly basis. Technically on weekly charts, it formed Hammer pattern on lower level with consolidation and also expected to give downward trend line breakout. For this week, we can expect upside movement in it.

For this week, traders can adopt buying from Trend line breakout strategy in it and above the level of 903 it can test the level of 923 during the week. Trades can make buy position in it by maintaining a Stop Loss of 885.
Last week, COALINDIA Nov Futures started the week on positive note and continued the same for the entire week. It made a high of 273.30 during the week and closed 268.80 with the overall gain of 2.20% on weekly basis. Technically on daily chart, it formed Spinning Top Pattern and also it's near to the yearly support zone level. For this week, we can expect downside movement in it.

For this week, traders can adopt selling strategy on the basis of technical pattern and below the level of 263 it can test the level of 253 during the week. Trades can make sell position in it by maintaining a Stop Loss of 266.10.

T ATASTEEL NSE CASH:
Overall trend of the Stock is bullish for long term . For short-medium term stock is in correction phase. Last week, it started on positive note and traded with sideways movement throughout the week. On daily chart it has gave breakout of its major resistance level of 584 . On intraday chart it has shown good positive move. If it manages to trade above the levels of 584 than further upside move can be seen in it
For this week, traders can adopt buy on lower level strategy in it and above the level of 586 it can test the level of Rs. 604 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 574.

REPCOHOME NSE CASH:
Overall trend of the Stock is bearish for long term . For short-medium term stock is in recovery phase . Last week stock started on negative note but good buying was seen in it from lower levels throughout the week. On daily chart it is consolidating on higher levels. If it manages to trade above 420 levels than further upside move can be seen in it. 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 420 it can test the level of Rs. 434 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 410.

Technical outlook:
Nifty:
Last week nifty index started on negative note and showed consolidation throughout the week as it remained in a narrow range of 142 points and ended with a Hanging Man kind of formation on weekly chart. Nifty Index which opened with a small gap on the upside in morning trade on November 9, failed to hold on to gains and turned negative making the same Hanging Man pattern on daily charts. A Hanging Man is a bearish reversal candlestick pattern and if index manages to trade below 10480 levels than further down side movement can be seen in it. According to Pivot charts, the key support level is placed at 10,536.50, followed by 10,449.20 while key resistance levels to watch out are 10,679.60 and then 10,735.40. On the option front, maximum Put OI is seen at 10,000, followed by 10,200 strikes. Maximum Call OI is seen at 11,000, followed by 10,800 strikes.
For this week, traders can adopt sell on higher level strategy in it and below the level of 10480. It can test the level of Rs. 10380 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10550.

Bank Nifty:
The Nifty Bank index started the last week on positive note on Monday and showed consolidation between 25,500 and 25,850 levels for the last five trading sessions. It formed an indecisive candle on the daily as well as weekly scale, which implies that the bulls are not loosening their grip, whereas bears are putting pressure at higher levels. The banking index is trading near its 50 and 200 daily exponential moving average for the last one week. It now needs to hold above the 25,850 levels to form a small Pole and Flag pattern breakout to move towards 26,250 levels but if it traded below 25,550 than it can drag index to lower levels around 25,200 then 24,800.
For this week, traders can adopt sell on higher level strategy in it and below the level of 25550. It can test the level of Rs. 24750 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 25900.

Nifty:
Fundamentals:
It seems like in Diwali week traders and investors remained out of the markets as our Indian Equity market showed some consolidation and the Nifty index remained range bound between 10,505 and 10,648.20 for most part of last week. However, on the auspicious day of Laxmi Pujan, markets opened higher with a decent gap and eventually closed tad below the 10600 mark. This week, our markets managed to extend the relief rally a bit; courtesy to some bump up on the Muhurat trading day. However, generally this tiny session trades with low volumes and hence we should not give much weightage to this price development. In fact, throughout the week there was no major participation was seen in the market. The same range bound week was also observed in most of the world major indices. Higher crude output from the US, Saudi Arabia and Russia led to oversupply in international markets. Oversupply concerns led to crude oil prices falling steeply last week Inventories continue to rise, pointing toward diminishing demand. USD/INR also remained sideways and closed with some nominal gain at 73.00 as compared to last week closing of 72.44

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