Equity Research Report Ways2Capital 23 Apr 2019
Added: (Tue Apr 23 2019)
Pressbox (Press Release) -
Last week our Indian Equity market opened on positive note on Monday but after made high 11860. it moves in negative note and give closing at 11771.10.
Nifty tested once again level of 11800 but not sustained at above 11800 and give closing below it.according to global market aspect due to rise in crude oil prices and rise in us dollar index some negative movement can seen on nifty .oil marketing companies play important role in falls in nifty index. Public sector bank and private bank also shown negative movement.it index performed well over the nifty index. India vix traded at it life time high and made high of 22.40 which shows in volatility in domestic market .
Last week nifty index started on positive note but after that it shows negative trend and give closing at 11771.10. after making high of 11860 it once again fall and give closing at 11771.10.According to technical analysis nifty broke its major resistance level of 11800 but not sustained above this level and give closing below 11800. if nifty can break the level of 11550 which is important support for nifty nifty can falls sharply. Up to the level of 11400
For next week traders can adopt short on rise strategy in nifty below the level of 11550 for the TGT of 11400 with SL of 11650.
BANK NIFTY ANALYSIS:
The Nifty Bank index started the last week on positive note and open at 30098 but give closing at negative note and made low of 30043.10 .
According to technical analysis bank nifty broke major support of 30700 but once again not able to break the level of 31000 that why 31000
will be major resistance of bank nifty on the other hand in downside 30000 will be the major support for bank nifty if nifty can break
this level it can go upto the level of 29000
For next week traders can made short position in bank nifty below 29750 for the TGT 29450 with SL of 30000.
WEEKLY FUTURES: BUY CAN BANK FUTS ABOVE 275 TGT 280 SL SL 271
Last week CAN BANK open at positive note and made high of 289 . But after making a high of 289 it indicate reversal movement and make low of 273 ,according to technical analysis 270 will be the major support for can bank and it able hold this level till last trading session of week. We can expect some upside movement from here.
For next week traders can make long position in can bank futs above the level of 275 with the TGT of 280 with SL of 271 .
WEEKLY FUTURE: BUY DCB BANK FUTS ABOVE 210 TGT 214.90,SL 206.90
Last week DCB bank open in negative note but after making low of 190.90 it shows reversal movement and formed bullish engulfing pattern on daily chart
And give closing at 202 it sustained important resistance level of 200 and give closing above it we can expect further upside movement in it
For next week traders can make long position in it above the level of 210 with the TGT of 214.90 with SL of 206.9
WEEKLY CASH: BUY GRAVITA CASH ABOVE 96 TGT 103 SL 92
Last week GRAVITA open at positive note and continue in positive trend and made high of 94.20.According to technical analysis Gravita formed double bottom pattern also give trend line breakout on weekly chart we can expect positive movement in it
For next week traders can make long position in it above the level of 96 with the TGT of 103 with SL of 92
WEEKLY CASH: BUY IBREALEST CASH ABOVE 105 TGT 109 SL 102
Last week IBREALEST open at positive note and made high of 114.25 after that it shows bearish movement and made low of 103.15 but able to hold important support level of 100 and give closing above it at 103.95 we can expect some positive trend above this support level .
For next week traders can make long positions in it above the level of 105 with the TGT of 109 with SL of 102
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