Equity Research Report Ways2Capital 22 Jan 2018
Added: (Mon Jan 22 2018)
Pressbox (Press Release) -
Last week, equity benchmark index Nifty Jan futures consolidated on higher levels with the positive bias for the
Nifty traded with a PE Ratio range of 27.44 Ė 26.96 during the week and sustaining in this range from the last
positive trends from FII & DII and on the expectation of positive outcomes of economic reforms taken by centre
entire week and made a new life time high of 10918. Fundamentally Nifty is still looking bullish due to continuous
couple of months. FII & DII activity witnessed almost positive trend for the entire week & provided support to
benchmark index to sustain on the higher levels.
On Macroeconomic front; data like Industrial Production, Manufacturing Production & CPI released last week
which further provided support Nifty to sustain on high level due to positive outcome.
For this week, economic data like inflation, Trade Balance and export/ import coupled with the FII & DII activity
will provide further direction to the marke
Last week, Nifty Jan Futures started the week on positive note and continued the same for the entire week.
It made a high of 10918 during the week and closed at 10901 with the marginal gain of 2.17% on weekly basis.
Last week nifty moves in uptrend and made it life time high
Itís consolidated below the important resistance level of 10800 entire week with the oversold RSI and above
200Days & 50Days SMA. Last week we, saw that market has broken its 10900 resistance area with higher
volume and open interest indicating building of long positions in it. Technically for this week, we can go for
buying in it from the lower levels
Bank Nifty Analysis
Last week, Bank Nifty Jan Futures made a high of 26947 and closed at 26896 with the marginal gain of 4.47% on
weekly basis. Itís move in upside in last week. Bank nifty break the important level of 26700 and reach upto the
level of 26900 with positive RSI. Itís also sustaining above the import technical indicators like 200Days & 50Days
SMA and technically for this week, we can further expect upside movement in it.
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.27000 it can test the
level of Rs.27700/ 27750 during the week. Trades can make buy position in it by maintaining a Stop Loss of
Rs.26535 in it.
KOTAK ( Call of the Week Futures)
Last week kotak bank traded positive for the most part of the week and closed at 1057.60 with the marginal
weekly gain of 3.38% on weekly basis.
According to technical analysis kotak bank break important range of 1000-1050 we can expect further upside
movement in it above this level.
BHARATFORG ( Call of the Week Futures)
Last week bharatforg traded positive for the most part of the week and closed at 735.50 with the marginal weekly gain of 2.18% on weekly basis. according to technical analysis bharatforge moves in tight range of 720 to 740 during last week we can expect positive gain from this level.
IBVENTURE ( Call of the Week Cash )
Last week IBVENTURE started the week on negative note and after that traded higher for the entire week. It broke the major resistance level of Rs.274 during the week and able to sustain above it and closed at Rs.274.95 Technically itís still sustaining on higher levels with oversold RSI & positive bias and for this week we can expect
further upside movement in it
For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs 276 it can test the
HDFC LIFE ( Call of the Week Cash)
Last week hdfc life started the week on higher note and traded higher side in entire week. It tasted the major
esistance level of Rs.490 during the week and able to break it and closed below the level of 490. With the overall gain of 4.67% on weekly basis. Technically itís still sustaining on higher levels with oversold RSI & positive bias and for this week we can expect further upside movement in it.
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