EQUITY WEEKLY NEWSLETTER 27th JULY 2018 STOCK /COMMODITY/FOREX/WEALTH MANAGEMENT Technical based Trading and investment call Entry- Exit Trend Reversal+ Proper Stop loss
NIFTY: 11278.35 (+2.44%) Markets traded with a positive bias right through the day with the Nifty, and Bank Nifty closing at record high levels. Across-the-board buying was witnessed on all major counters, with ICICI Bank posting strong gains ahead of its quarterly (Q1FY19) earnings. The market breadth ended in the favor of advances with advance-decline ratio closing at 2:1.Nifty has undergone a healthy consolidation (11080 -10925) and formed a higher base formation around 10700, which set the stage to challenge the all -time high of 11172, going ahead. In the coming session, we expect the Nifty to trade with a positive bias amid stock specific action as Q 1FY19 earning season remains in focus. Nifty has given a symmetrical triangle pattern and already rally more than 300point till now and the next target would be 11350-11400. Market would see reversal only if it closes below 11000 levels and until then Bulls would have a upper hand but would struggle in the resistance zone of 11270-11300 as bear would try hard to break the negative momentum.
Friday 27th JULY, 2018
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BANKNIFTY: 27634.40(+2.83%) Bank Nifty ended the week on a Positive note, closing 2.83% Higher. Tracking the technicals likewise, Banknifty managed to give break resistance of 27300 on the weekly chart after consolidating for two weeks, posting a sharp rally of 600 points after crossing 27000level .Tracking the shorter time frame, market is looking bullish and rally may continue till 28000 marks. Resistance for the index lies in the zone of 27900-28000 and support is place at 27000-27100.
Friday 27th JULY, 2018
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Recommendation Stock for the WEEK
Script Name – ESCORT
BUY ABOVE -930
TREND - BULLISH
TARGET- 1000
STOPLOSS – 870
CANDELSTICK CHART – ESCORT
R1-980
R2 – 1020
PIVOT – 920
S1 – 890
S2 – 875
JUSTIFICATION ON DAILY CHART, ESCORT HAS MANAGED TO GIVE BREAKOUT OF TRENDLINE ABOVE 920 AND ALSO GIVE CLOSING ABOVE 100Day SMA. RSI AND STOCHASTIC BOTH ARE POSITIVE POISED.
Friday 27th JULY, 2018
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Script Name – CESC
BUY ABOVE -960 TREND - BULLISH
TARGET- 1000-1020
STOPLOSS – 920
CANDELSTICK CHART – CESC
R1 – 1000
R2- 1040
PIVOT -940
S1 – 1000
S2 -1040
JUSTIFICATION CESC HAS TAKEN REVERSAL FROM ITS MAJOR SUPPORT OF 880 ON WEEKLY TIME FRAME AND ALSO MANAGED TO SUSTAIN ABOVE 10DAY-EMA WHICH IS PLACED AT 952. RSI IS ALSO SHOWING POSITIVE CROSSOVER.
Friday 27th 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 27th JULY, 2018
www.capitalways.com