WEEKLY REPORT 20 NOV.-2017

Transcription

1 WEEKLY REPORT 20 NOV.-2017

2 Upcoming Week Nifty Movement: The Nifty opened the week at 10322, made a high of 10343, low of and closed the week at Thus the Nifty closed the week with a loss of 38 points. On the daily charts, Nifty has formed a Hammer formation which has a long lower shadow and even a small upper shadow. Thus candlestick study indicates a neutral to bullish bias in the near term. As expected the indices went lower and took support at the critical Gap formed between Nifty This gap was ably supported by the previous tops (Nifty 10137) along with the 50dma. Nifty before staging a bounce-back. A break of the last week s lows (Nifty 10094) will turn the intermediate trend down and we will once again resume the Correction; the levels for which are placed at Nifty MACD continues in its Sell mode despite being in the positive zone. Price ROC is negative and in Sell mode. RSI (53) still suggests bullish momentum. ADX has dropped to 19, which suggests that there is no clear trend. Directional Indicators have just given a Buy. MFI (45) suggests Negative Money Flow. OBV is moving lower but is yet to give a Sell signal. Thus Oscillators are suggesting a mixed bias this week. Options data for November series indicate highest Call Open Interest is at the strike of whereas the highest Put build-up is at Thus Options data suggests a trading range with resistance coming at & support at

3 WEEKLY INDEX LEVELS: Nifty CMP Pivot Point Support1 Support2 Support3 Resistance1 Resistance2 Resistance

4 Technical Movement: STOCK RECOMMENDATIONS:

5 SRF Limited Technical Movement: SRF Limited: - Trend of the stock is bullish, it gave immediate daily breakout & close above 1766,if it sustains above 1793 one can go for buying with stop loss at 1740 for the targets of Trend of the stock is up in daily chart and strategy advised is buy on dips.

6 DLF Limited:- Technical Movement: DLF Limited:- The stock is giving daily resistance breakout & closed above 219, also took support previous breakout. If it sustains above 220 one can go for buying with stop loss at 211 For The targets of Trend of the stock is up in monthly chart and strategy advised is buy on dips.

7 Previous archives LAST WEEK RECCO STOCK RECO PRICE TGT FOLLOWUP REMARK Steel Authority of India Limited Exit MADE HIGH Bajaj Auto Limited BOOK PROFIT BOOK PROFIT AT 3280

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