EQUITY WEEKLY NEWSLETTER 13 JULY 2018 STOCK /COMMODITY/FOREX/WEALTH MANAGEMENT Technical based Trading and investment call Entry- Exit Trend Reversal+ Proper Stop loss
NIFTY: 11018.90(+2.28%) The Nifty took out the 11,000 mark on Thursday, a level it last touched around the Union Budget 2018. "The market has climbed all walls of worries. We always believe that there was consolidation after hitting record high levels and market kept support levels around 10,500-10,600 levels, The Nifty after correction of more than 10 percent rebounded more than 9 percent to trade above 11,000 levels. Broader markets also corrected sharply with the Nifty Midcap falling around 15 percent but now rebounded, which suggests that the pain is over now. We feels the breakout has already happened in the Nifty index that is expected to test 11,30011,400 levels in next few weeks and by the end of 2018, the index may move close to around 12,000-mark.
Friday 13th JULY, 2018
www.capitalways.com
BANKNIFTY:26935.95(+1.48%) Bank Nifty ended the week on a Positive note, closing 0.16% Higher in this week. There is clear intimation given by Bank Nifty that it has already given breakout of resistance level of 26800 which likely to leads the new range & support making. There is crucial support level has found 26200 on which it moves for 2 months but unfortunately the break of range giving the bullish signal for upcoming days. We feels the banking is the one sector that is going to lead the market. "27,500 is the near term resistance for the Nifty Bank, once this crosses it may hit 30,000 levels also."
Friday 13th JULY, 2018
www.capitalways.com
Recommendation Stock for the WEEK
Script Name – BAJFINANCE
BUY–2470
ACTION – BUY
TREND - BULLISH
STOPLOSS – 2420
CANDELSTICK CHART – BAJFINANCE
R1 -2373
R2 – 2401
PIVOT – 2327
S1 – 2299
S2 – 2253
JUSTIFICATION ON WEEKLY CHART, BAJFINANCE HAS MANAGED TO GIVE BREAKOUT OF RESISTANCE LEVEL 2419 WHICH SHOWS A STRONG BUYER VOLUME IN SHARE. RSI & PSAR ALSO GIVEN BUY SIGNAL IN THIS STOCK.
Friday 13th JULY, 2018
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SCRIPT NAME –BPCL
BUY– 389
ACTION - BUY
TREND – BULLISH
STOPLOSS – 380
CANDELSTICK CHART – BPCL
R1 – 382
R2- 390
PIVOT – 373
S1 – 365
S2 -356
JUSTIFICATION BPCL HAS TAKEN REVERSAL FROM ITS MAJOR SUPPORT OF 375 ON DAILY TIME FRAME AND ALSO MANAGED TO SUSTAIN ABOVE 5-10 DAY-EMA WHICH IS PLACED AT 380. RSI AND STOCHASTIC IS ALSO SHOWING A POSITIVE CROSSOVER.
Friday 13th JULY, 2018
www.capitalways.com
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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 13th JULY, 2018
www.capitalways.com