DEALMONEY MARKET BUZZ 20 th August 25 th August Index Equity Commodity Currency Equities Commodities Wealth Mutual Funds Insurance 1
Weekly Performance: Equity S.No Equity View Entry Target SL Outcome 1 Aarti Industries Bullish 1284 1410 1232 Target high (09/08/2018) 2 GSK Cons Bullish 6770-6790 7140-7300 6570 Hit high of 6950 3 CHOLAFIN Bullish 1445 1535 1400 Hit high of 1506.20 4 LTTS Bullish 1487 1660 1400 Hit high of 1623 Commodity S.No Commodity View Entry Target SL Outcome 1 CRUDE OIL Bullish 4690 5000 4580 SL hit(8-8-2018) 2 NICKEL Bullish 926 1020 800 Hit high of 969 3 GOLD Bullish 29650-29680 30100 29550 SL Hit (16-08-2018) 4 ALUMINUM Bullish 143.5-143 148 141 Hit high of 145.9 Currency S.No Currency View Entry Target SL Outcome 1 USD/INR Bearish 68.65-68.70 67.70 69.10 SL Hit(07-8-2018) 2 GBP/INR Bearish 89.10-89.20 87.50 89.85 Hit low of 88.13 3 USD/INR Bearish 69-69.10 68.30 69.30 SL Hit(13-8-2018) 4 EUR/INR Bearish 79.3-79.4 78.4 79.75 SL Hit(13-8-2018) Equities Commodities Wealth Mutual Funds Insurance 2
NIFTY (11,470.7) The Nifty after opening sharply higher above psychological level of 11,400 extended to its intraday record high and finally ended at record closing high at 11,470 on Friday, driven by broad based buying in banking, pharma and FMCG. The index formed bullish candle on the daily candlestick charts as well as weekly scale. On weekly charts a strong bullish candle can be seen for fourth weeks in a row indicating resumption of strong bullish momentum. The risk for bulls at the crucial level of 11,500 is from derivative structure. The OI buildup on 11500CE to the tune of 3,654,900 indicates some resistance. The move above 11,550 might see short covering taking index to 11,700 levels. We suggest traders to go long around 11,410-11,430 zone or above 11,550 whichever is earliest. Equities Commodities Wealth Mutual Funds Insurance 3
Bank Nifty (28,128.5) Similar to nifty chart Bank nifty is trading inside the rising channel. The index ended at record closing high of 28,128.5. On weekly charts a decent bull candle can be seen which is encouraging sign for the bulls, 27,400 will act as a major support. We expect index to continue its bull run towards the level of 28,700. Equities Commodities Wealth Mutual Funds Insurance 4
DLF (210.15) On weekly chart stock is in uptrend, it is trading along with the rising trend line. Stock is forming higher high higher low formation. Stock is trading above 50 WEMA indicating good strength in stock. RSI is at 53 with positive crossover indicating good strength. Buy DLF at 210 with a stop-loss of 198 for target of 235. Equities Commodities Wealth Mutual Funds Insurance 5
YES Bank (393.20) On weekly chart stock was trading in range for almost a year. We can see in chart there is range breakout in stock. The stock is trading above 50WEMA. RSI is at 66 and moving towards north direction indicating good strength in stock. Buy YES Bank at 393.20 with a stop-loss of 373 for target 433. Equities Commodities Wealth Mutual Funds Insurance 6
Silver (36,778) MXC Silver price corrected nearly 4.5% from the high of 38,159 The price has given Symmetrical Triangle breakdown on weekly charts RSI is moving below average line supporting bearish trend Sell MCX Silver at 36,850-36,900 for Target of 36,300 with SL of 37,250. Equities Commodities Wealth Mutual Funds Insurance 7
Copper (407) MCX Copper had good bull run from 290 to 490 Price failed to sustain above rising trend line. Price is below 50 day EMA RSI is moving below average line indicating weakness in commodity Sell MCX Copper 408.5-409 for Target of 400 with SL 413. Equities Commodities Wealth Mutual Funds Insurance 8
GBP/INR (89.31) On four hourly charts currency there is triangle breakout. Currently the price is near to its resistance and it has formed bearish candle. RSI is 50 and it is near to its resistance. We expect price to move towards south direction. SELL GBPINR at 89.3 for the target of 88.3 with SL of 89.80. Equities Commodities Wealth Mutual Funds Insurance 9
EUR/INR (79.98) On four hourly charts the price is near to its resistance zone. Formation of bearish candle near to its resistance zone indicating bearish momentum. RSI is 52 and it is near to its resistance. Sell EURINR at 79.98 Target 79.1 SL 80.40. Equities Commodities Wealth Mutual Funds Insurance 10
Report by: - Brijesh Bhatia (Head-Resarch) Rupesh Solanki,CMT (SrTechnicalAnalyst) Darshan Ved (Technical Analyst) Akshay Modak (Research Analyst) brijesh.bhatia@dealmoney.in rupesh.solanki@dealmoney.in darshan.ved@dealmoney.in akshay.modak@dealmoney.in For private circulation only Website: www.dealmoneyonline.com SEBI Research Analyst Registration No: INH000002319 DISCLAIMER Dealmoney Securities Private Limited (hereinafter referred to as Dealmoney ) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited and MCX Stock Exchange Limited. Dealmoney is also registered as a Depository Participant with CDSL. Dealmoney is in the process of making an application with SEBI for registering it as a Research Entity in terms of SEBI (Research Analyst) Regulations, 2014. 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