Equity Research Report Ways2Capital 19 March 2018

Nifty index snapped a two week losing streak as fundamental macro numbers brought some positive sentiments to the street.

Nifty:
Fundamentals:
Nifty index snapped a two week losing streak as fundamental macro numbers brought some positive sentiments to the street. Robust Industrial Production growth in January coupled with slowing down of retail inflation were among the major factors that propped up sentiments. Meanwhile, profit booking coupled with reports that the monsoon could be below normal due to El Nino impact, caused some panic offloading in the market towards the end of the week, erasing gains. February's wholesale inflation lowered marginally to 2.48% versus 2.84% in the previous month. India's IIP expanded to 7.5% in January, compared to a 7.1% growth rate in December. Retail inflation in February slowed down to 4.44% compared to 5.07% in January.

Technical outlook:
Nifty future witnessed a strong up move led by sharp short-covering on Monday but after that it remained in range with intraday volatility. It remain extreme volatile during the week as Nifty fut gained nearly 200 points on Monday but remained flat for next three days and fell sharply in Friday's trading session as it lost 135 points. The bias has now tilted in favors of the bears and a break below 200-day moving average in the coming week could extend the selling pressure. The Nifty took support near its 200-DMA on last two occasions and then bounced back. Now, a break below this level which is placed around 10,160 could push the index towards its next crucial support level placed at 10,000.

For this week, traders can adopt sell on higher level strategy in it and below the level of 10190 it can test the level of Rs. 10040 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10310.

Bank Nifty
Nifty Bank Futures started the week on positive note as most the PSU bank showed short covering on Monday, otherwise it remained range bound in whole week. Bank Nifty somehow managed to close the week on positive note gaining around 0.79%. Bank Nifty again turning its move from 24900 to 25090 from where the long term moving averages are lying. Range for the week is seen from 24000 to 24200 on downside & 24900 to 25090 on upside.

For this week, traders can adopt sell on higher level strategy in it and below the level of 25550 it can test the level of Rs. 24250 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 24750.

NSE FUTURES: SELL NIITTECH FUTURES BELOW 895 TGT 880 SL 899.50

last week NIITTECH futures moves in positive note but end of the week it give closing at negative note. after long rally of buyers is reverse from the overbought zonein RSI.
last week NIITTECH futures made high of 964.65 and close at 927.40 we can expect negative trend from here.
for next week traders can short if from the level of 895 for the tgt of 880 and sl of 899.50



NSE FUTURES: SELL SUNPHARAMA FUTURES BELOW 499 TGT 490 SL 505
last week sunpharma moves in negative note and entire week it moves in negative note. it break important support levelof 500
we can expect further downside movement in sunpharma below this support level
For next week tradres can sell sunpharma from the level of 499 for the tgt of 490 with sl of 505.



CASH CALL: BUY JAMNAAUTO NSE CASH ABVOE 81 TGT 86 , 90 SL 77

last week Jamnaauto cash open at negative note but after that it moves in positive trend in entire weak and made high of 81 and give closing at 79.40 .acoording
to technical analysis it brea major resistance of 80 after accumulation phase in weekly chart. we can made long position in it above this resistance level.
For bext week traders can buy it above the levle of 81 with the tgt of 86 and sl of 77


BUY BOMDYEING NSE CASH ABOVE 271.1 TGT 278.9, 288.7 SL 266.4

last week bombaydyeing moves in positive note and give closing at 259.95 it made high of 268 acoording to technical analysis it break major resistance level of 260
and able to give closing aboove this resistance level we can expect further upside movement in it above the level of 270

For next week traders can buy from the level of 271.10 with the tgt of 288.70 and sl of 266.40

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by Ways2Capital (last year!)

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