EQUITY WEEKLY NEWSLETTER 12th Oct,2018 STOCK /COMMODITY/FOREX/WEALTH MANAGEMENT Technical based Trading and investment call Entry- Exit Trend Reversal+ Proper Stop loss
NIFTY: 10472.50 (+2.32%) Bulls took the mantle back from bears on Friday, almost erasing all of Thursday’s losses. The Sensex ended over 700 points higher, while the Nifty ended above 10,450-mark. The price action formed a high wave bull candle with a long upper shadow carrying a lower high -low, as even after a gap down opening the Nifty held the morning low (10139 ) despite a global sell -off and ended the session above 10200 , signifying supportive efforts that emerged near key value area of 10200 . In the coming session, holding above Thursday’s panic low of 10139 would keep pullback option open that would lead the index to enter a broader consolidation range of 10100 –10500 in coming weeks . If it fails to do so, the index would extend ongoing corrective phase . Meanwhile, the daily RSI is witnessing positive divergence, indicating impending pullback.
Friday 12th Oct, 2018
www.capitalways.com