Equity Research Report Ways2Capital 12 Sep 2018

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YESBANK Sept Futures started the week on negative note and after that it witnessed bearish movement for the entire week. It made a low of 323 during the week and closed at 323.45 with the overall loss of 6.34% on weekly basis. Technically YESBANK Futures in the bearish trend but for this week, we can expect short covering from the lower levels as open interest and volume giving the sign of recovery.

For this week, traders can adopt buy on lower level strategy in it and above the level of 331 it can test the level of 351 during the week. Trades can make buy position in it by maintaining a Stop Loss of 324.00

Last week, RITES started the week with down side correction but after it gave up side movement. It made a high of 288.50 during the week and closed at 261 with the overall loss of 10.30% on weekly basis. Technically it’s recovering from it’s correction face and forming bullish harami pattern and for this week, we can expect further long unwinding in it.
For this week, traders can adopt buy on lower levels strategy in it and above the level of 271 it can test the level of 284 during the week. Trades can make buy position in it by maintaining a Stop Loss of 262

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Last week, JUBLFOOD Sept Futures started the week on negative note and after that it witnessed bearish movement for the entire week. It made a low of 1398.15 during the week and closed at 1415.35 with the overall loss of 9.11% on weekly basis. Technically JUBLFOOD Futures in the bullish trend but it witnessing profit booking from higher levels and for this week, we can expect downside movement in it.

For this week, traders can adopt sell on higher level strategy in it and below the level of 1406 it can test the level of 1378 during the week. Trades can make sell position in it by maintaining a Stop Loss of 1426
Last week, RALLIS started the week with down side movement but in the later part of the week, it’s recovered from lower levels and given the up side movement for the remaining week. It made a high of 209.40 during the week and closed at 201.50 with the overall loss of 3.50% on weekly basis. Technically it’s given trendline breakout with consolidation from the lower levels and for this week, we can expect upside movement in it.

Nifty:
The Nifty futures started the last week on negative note on Monday and traded with negative movement throughout the week and give closing with 78 points loss on weekly basis. Index is forming H&S price pattern on daily chart and if it give closing below 11500 levels then further down side movement can be seen in it . On up side major resistance is placed at 11650 while support is placed at 11470 and violation of this support levels could trigger more selling in index. On option front maximum call options are open on 11800 levels while put options are open on 11400 levels.

For this week, traders can adopt sell on higher level strategy in it and below the level of 11470. It can test the level of Rs. 11360 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 11570.

Bank Nifty:
The Nifty Bank index started the last week on negative note and traded with bearish movement throughout the week, which led index to give closing on negative note on weekly basis. Going ahead, index has formed double top price pattern on higher levels and if index manages to give closing below the levels of 28300 then it can show further down side movement and can test levels of 27000. Bank Nifty has crucial resistance of 27670 .

For this week, traders can adopt sell on higher level strategy in it and below the level of 27270. It can test the level of Rs. 27070 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 27420.

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