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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

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BANKNIFTY: 25395(2.47%) Banknifty is consolidating in a tight range of 24250-25500 from last 2 weeks. The price action formed a small bull candle, which mostly remained enclosed inside the previous session’s price action. The index in the last six sessions has been consolidating near the crucial support area of 24500-24200 as it is the confluence of the 80% retracement of the entire up move from MarchAugust 2018 up move (23605-28388) and the price parity of the February- March 2018 decline (27652 to 23605) from the August 2018 high of 28388 also projects supports around 24250. We expect the index to continue with the current consolidation and oscillate in the broad range of 24200-25470.

Friday 12th Oct, 2018

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Recommendation Stock for the WEEK

Script Name –BHARTIARTL Buy Above-294

TREND - DOWN

TARGET- 318

STOPLOSS – 270

CANDELSTICK CHART – BHARTIARTL

R1-305

R2 – 330

PIVOT – 288

S1 – 275

S2 – 246

JUSTIFICATION

SHARE TOOK SUPPORT AT MAJOR SUPPORT ZONE OF 275-280 AND FORMED A DOJI CANDLE AT SUPPORT ZONE.

Friday 12th Oct, 2018

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Script Name – JETARWAYS Buy Above - 205

TREND-BEARISH

TARGET- 260

STOPLOSS – 155

CANDELSTICK CHART – JINDALSTEL

R1 – 235

R2- 260

PIVOT -188

S1 –174

S2 -155

JUSTIFICATION

SHARE TOOK SUPPORT AT MAJOR SUPPORT ZONE OF 155-160 AND FORMED A DOJI CANDLE AT SUPPORT ZONE.

Friday 12th Oct, 2018

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For any queries, suggestions and Feed back, kindly mail to info@capitalways.com Research Team : 096177-00602

Website : www.capitalways.com

Our Corporate Office:

Capital Ways Investment Adviser 605, Industry House , AB Road Indore (MP)

DISCLAIMER: Stock trading involves high risk and one can lose Substantial amount of money. The recommendations made herein do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on Technical ANALYSIS only.

Friday 12th Oct, 2018

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Capitalways Weekly Equity Report 13th October 2018  

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...

Capitalways Weekly Equity Report 13th October 2018  

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...

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