Equity Research Report Ways2Capital 10 Apr 2019
Added: (Wed Apr 10 2019)
Pressbox (Press Release) -
Fundamental Outlook The Indian Equity market remained remained positive throughout last week as the indices posted a gain of 0.65 percent each largely supported by metal, auto, energy and infra stocks. The Nifty50 index managed to close above 11,600 Nifty gained 80 points in the truncated week ended March 8. On a weekly basis, the rupee rose over 1 percent (up 76 paise) to end at 70.15 on March 8 against .April 5. closing of 70.91. This is the biggest rise against the US dollar since the week ended December 21. The foreign institutional investors (FIIs) has bought equities worth Rs 4,115.61 crore, while on the other hand domestic institutions investors (DIIs) sold Rs 1,693.75 crore worth of equities in the last week. Oil prices fell about 1 percent on March 8 after disappointing US job growth revived concerns about a slowing global economy and weaker demand for oil. With surging US oil supply also unsettling markets, Brent crude futures rise and settle at $70 a barrel. The international benchmark gained 1 percent for the week. Ahead of crucial elections, it looks like small & midcaps are getting attention. The bounce back in the market was led by a handful of Nifty50 names but the big trend was seen in the broader market which saw double-digit returns Technical Outlook The Nifty which started on a positive note and continued it positive run for next trading session. The index closed listless session marginally lower on Friday, but managed to hold 11,600 levels for third consecutive session
Nifty Analysis
Last week index shows a consolidation movement and close above 11600 which is crucial level for nifty. If nifty manage and move above 11600 then it can touch level of 11800 in upcoming trading week. Next major resistance level for nifty index is 12000
For this week, traders can adopt buy on lower level strategy in it and above the level of 11750. It can test the level of Rs. 11,850 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.11590
Bank Nifty Analysis
The Nifty Bank index started the last week on negative note on Monday and remained negative hroughout the week . The index closed 400 points lower at 30300 Now the index has to hold above 30000 to witness an up move towards 30800 then 31100 levels while on the downside support exists at 29950 levels.
Fundamental Outlook
The Indian Equity market remained remained positive throughout last week as the indices posted a gain of 0.65 percent each largely supported by metal, auto, energy and infra stocks. The Nifty50 index managed to close above 11,600 Nifty gained 80
points in the truncated week ended March 8. On a weekly basis, the rupee rose over 1 percent (up 76 paise) to end at 70.15 on March 8 against .April 5. closing of 70.91. This is the biggest rise against the US dollar since the week ended December 21. The foreign institutional investors (FIIs) has bought equities worth Rs 4,115.61 crore, while on the other hand domestic institutions investors (DIIs) sold Rs 1,693.75 crore worth of equities in the last week. Oil prices fell about 1 percent on March 8 after disappointing US job growth revived concerns about a slowing global economy and weaker demand for oil. With surging US oil supply also unsettling markets, Brent crude futures rise and settle at $70 a barrel. The international benchmark gained 1 percent for the week. Ahead of crucial elections, it looks like small & midcaps are getting attention. The bounce back in the market was led by a handful of Nifty50 names but the big trend was seen in the broader market which saw double-digit returns
Technical Outlook
The Nifty which started on a positive note and continued it positive run for next trading session. The index closed listless session marginally lower on Friday, but managed to hold 11,600 levels for third consecutive session
Nifty Analysis
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