Home > Financial > Equity Research Report Ways2Capital 5 Sep 2018

Equity Research Report Ways2Capital 5 Sep 2018

Added: (Wed Sep 05 2018)

Pressbox (Press Release) - HINDALCO
Last week, HINDALCO NSE cash started the week on positive note and after that it witnessed sideways move for the most part of the week. It made a high of 243 during the week and closed at 237.95 with the overall gains of 7.14% on weekly basis. Technically its consolidating on higher levels the positive technical indicators and also sustaining above the trend line breakout. 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 243 it can test the level of Rs. 253 during the week. Trades can make buy position in it by maintaining a Stop Loss of 338
BHARATFORG
Last week, BHARATFORG NSE cash started the week on positive note and continued the same for entire week. It made a high of 685 during the week and closed at 679.05 with the overall gains of 4.93% on weekly basis. Technically its forming good reversal pattern on the chart with the positive RSI & 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 690 it can test the level of 711 during the week. Trades can make buy position in it by maintaining a Stop Loss of 678
ACC Futures

Last week, ACC NSE Futures started the week on negative note and after that it witnessed choppy move for the entire week. It made a high of 1677 during the week and closed at near to previous week closing at 1652.90. Technically ACC is in bullish trend on the charts and it witnessed more than 30% gains in past 1 month. Currently its sustaining above the major psychological resistance level of 1600 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 1670 it can test the level of 1699.50 during the week. Trades can make buy position in it by maintaining a Stop Loss of 1656.90
DIVISLAB Futures
Last week, DIVISLAB NSE Futures started the week on negative note and after that it witnessed choppy move for the entire week. It made a high of 1336.90 during the week and closed at 1316.70 with the overall gain of 1.00% on weekly basis. Technically DIVISLAB is in bullish trend on the charts and sustaining above the major psychological support level of 1200. 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 1337 it can test the level of 1354.90 during the week. Trades can make buy position in it by maintaining a Stop Loss of 1329.50
Technical outlook:
Nifty:
The Nifty futures started the last week on positive note on Monday and make its new life time high in Tuesday trading session. Index showed some profit booking in last three trading sessions. on weekly basis index is forming Hanging man candlestick pattern but due to lack of clear reversal confirmation it is still looking positive in coming trading sessions. Major resistance is placed at 11800 and close above this levels can extend the bullish leg while down side 11642 will act as a major support for the index.
For this week, traders can adopt buy on lower level strategy in it and above the level of 11805. It can test the level of Rs. 11950 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 11699.

Bank Nifty:
The Nifty Bank index started the last week on positive note on Monday but soon showed profit booking from higher levels as it traded with bearish movement throughout the week, which led index to give closing on sideways note on weekly basis. Going ahead, index has formed flag price pattern on higher levels and if index manages to sustain above the levels of 28400 then it can show further upside movement and can test up side levels of 28750. Bank Nifty has crucial support of 28000 .
For this week, traders can adopt buy on lower level strategy in it and above the level of 28500. It can test the level of Rs. 28750 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 28380.

Nifty Fundamentals:
The index continues to enjoy its Bull Run despite some in between hiccups. After previous weeks consolidation, we had a head start on Monday by opening higher and in couple of days, hastening beyond milestones of 11600 and 11700. However, traders once again chose to take some money off the table and hence, index came off a bit from higher levels thereafter. Although, we did not see a significant move on Friday in terms of gains; it was quite encouraging because index managed to hold its ground and showed some signs of recovery towards the fag end of the week. As far as sectoral moves are concerned, Pharma and Metal have been the outshining pockets and still we expect them to do well in coming days. Apart from this, IT stocks gave some sparkling moves on the First and the last day of week. Do watch out for these spaces along with the midcap universe (especially the cash segment), which is still likely to fetch some decent returns. On the global front The S&P 500 Index added to a fifth monthly gain as investors awaited developments on trade talks. Emerging-market shares extended their slide, while the dollar climbed with Treasuries
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