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Capitalways Weekly Report Equity 16 June 18

Nifty hold support level 10600 and closed the week on positive note gaining around 51 points at 10817.70 as compared to last week. Benchmark indices close positive after volatility on Friday with Pharma stocks, IT stocks and reliance industries leading the gains.

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Capitalways Weekly Report Equity 16 June 18

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  1. EQUITY WEEKLY NEWSLETTER 15th JUNE 2018 STOCK /COMMODITY/FOREX/WEALTH MANAGEMENT Technical based Trading and investment call Entry- Exit Trend Reversal+ Proper Stop loss NIFTY: 10817.70 (+0.46%) Nifty hold support level 10600 and closed the week on positive note gaining around 51 points at 10817.70 as compared to last week. Benchmark indices close positive after volatility on Friday with Pharma stocks, IT stocks and reliance industries leading the gains. Markets witnessed a volatile trading session with Nifty recovering its opening losses in the last one hour of trade. Nifty remained resilient, witnessing an identical recovery in the latter half of the session for the second day in a row. Tracking the Technicals, Nifty has formed a spinning top candlestick pattern on the weekly chart, hinting a formation of immediate resistance at 10900 levels. On the downside, the 10DEMA is placed around 10650 mark, indicating an immediate support for the index. Nifty has strong resistance of 10900 mark.It breaks the levels in the positive direction and the next target would be 10900-11000. Market would see reversal only if it closes below 10500 levels and until then Bulls would have a upper hand but would struggle in the resistance zone of 11000-11200 as bear would try hard to break the negative momentum. Friday 15th JUNE, 2018 www.capitalways.com

  2. BANKNIFTY:26417.40 (-0.13%) Bank Nifty ended the week on a flat note, closing 0.13% lower. Tracking the Technicals, the index traded sideways for the third week in a row and has formed a bearish Dark cloud cover and Gravestone Doji candlestick pattern on the weekly chart, hinting a formation of immediate resistance at 27000 levels. Overall trend is consolidation in Nifty Bank. Market is unable to hold 26500 on closing basis. Resistance for the index lies in the zone of 26500. If the index manages to close above these levels then the index can move to the levels of around 27000-27200. Friday 15th JUNE, 2018 www.capitalways.com

  3. Recommendation Stock for the WEEK Script Name – RBL BANK BUY –560 ACTION – BUY STRATEGY - STRONG STOPLOSS – 530 CANDELSTICK CHART – RBL BANK R1 -600 R2 – 585 PIVOT – 560 S1 – 534 S2 – 510 JUSTIFICATION RBL BANK HAS GIVEN BREAKOUT OF RESISTANCE ZONE OF 548-554 ON DAILY CHART AND MANAGED TO SUSTAIN ABOVE IT WHICH SHOWS A POSITIVE MOMENTUM IN SHARE. SHARE MANAGED TO GIVE POSITIVE CLOSING AS COMPARE TO LAST WEEK. SUPPORT IS PLACED AT 534 Friday 15th JUNE, 2018 www.capitalways.com

  4. SCRIPT NAME –INFOSYS BUY– 1280 STRATEGY – STRONG STOPLOSS – 1230 ACTION - BUY CANDELSTICK CHART – INFOSYS R1 – 1360 R2- 1310 PIVOT - 1255 S1 – 1240 S2 -1220 JUSTIFICATION INFOSYS IS LOOKING STRONGLY BULLISH ON WEEKLY CHART AS ITS BREAKS ALL TIME HIGH ON DAILY TIME FRAME. SHARE MANEGED TO SUSTAIN ABOVE RESISTANCE OF 1274.RSI IS ALSO POSITIVE POISED. Friday 15th JUNE, 2018 www.capitalways.com

  5. For any queries, suggestions and Feed back, kindly mail to info@capitalways.com Research Team : 096177-00602 Website : www.capitalways.com Our Corporate Office: Capital Ways Investment Adviser 605, Industry House , AB Road Indore (MP) DISCLAIMER: Stock trading involves high risk and one can lose Substantial amount of money. The recommendations made herein do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on Technical ANALYSIS only. Friday 15th JUNE, 2018 www.capitalways.com

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