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Equity Research Report Ways2Capital 1 jan 2019

Added: (Tue Jan 01 2019)

Pressbox (Press Release) - Last week, HEROMOTOCO Jan Futures started the week on negative note and continued the same for the entire week. It made a low of 3120.40 during the week and closed at 3141.25 with the overall loss of 5.50% on weekly basis. Technically its in the downtrend and on weekly chart, it made reversal spinning top pattern. It had also given breakout of 38.20% Fibonacci Retracement which is indicating bearish movement in it for the short term.
For this week, traders can adopt selling on the basis of trend line breakout strategy in it and below the level of 3120 it can test the level of 3071 during the week. Trades can make sell position in it by maintaining a Stop Loss of 3155.25
COPAL FUTURES

Last week, COLPAL Jan Futures started the week on negative note but after that, it consolidated on for the remaining part of the week. It made a low of 1294.80 during the week and closed at 1324.40 with the marginal loss of 0.50% on weekly basis. Technically its consolidating near to 52 week High and for this week, we can expect upside breakout in it.
For this week, traders can adopt buying from 52 week high breakout strategy in it and above the level of 1342 it can test the level of 1359 during the week. Trades can make buy position in it by maintaining a Stop Loss of 1332.80.

KJARIACER NSE CASH:
Overall trend of the Stock is sideways for long term . For short term stock is in bullish phase. Last week, it started on negative and consolidated near its major resistance levels throughout the week. On daily chart stock has gave breakout of its major resistance levels of 495. In intraday stock has showed god buying. If it manages to sustain above the levels of 498 than further upside move can be seen in it.
For this week, traders can adopt buy on lower level strategy in it and above the level of 498 it can test the level of Rs. 514 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.489.

GSFC NSE CASH:
Overall trend of the Stock is sideways for long term . For short term stock is in bullish phase. Last week stock started on negative note and showed good buying from lower levels throughout the week. On daily chart stock has gave breakout of its major trend line. If it manages to trade above 116 levels than further upside move can be seen in it. In intraday it showed a good positive move.

For this week, traders can adopt buy on lower level strategy in it and above the level of 116 it can test the level of Rs. 119.80 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 113.70.


Nifty:
Fundamentals:
After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain. The Nifty was up 0.98 percent, or 105.9 points, to close at 10,859.9. Positive lead from Wall Street and rally in banking & financial stocks lifted investor sentiment. Ending the week with a Hammer candle implies further strength in the index in coming sessions. The Nifty PSU Bank index has outperformed other sectoral indices with a gain of 3.65 percent during the week. Reliance Industries (RIL) gained the most in terms of market value, followed by ITC, Adani Ports and HDFC. On a weekly basis, the rupee appreciated 1.70 percent (Rs 1.21) against the dollar as it ended at 69.94 on December 29 against December 21, closing of 71.15 against the dollar. Indian macroeconomic outlook majorly depends on how crude prices move. Last Week once again crude started falling resulting Indian equity market too gradually started inching up. Going forward, crude prices are expected to remain sideways. Crude oil gave the weekly closing at 3183 , 53 points down from last week's closing of 3236.

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