Shield Research
Weekly Report12th Febto16th Feb 2018.
Upcoming Week Nifty Movement:
Trend wise Nifty was bullish in this week but sentiments were sellingfrom, Nifty gave weekly opening upside at 10604, took resistance major level 10700 then reverse. While downside nifty took support 30 day ema, broke previous breakout & major level 10500, made low 10276.30 & also gave closing below major level 10500 (closed at 10455).
The BSE Sensex slumped over 407 points to end at a one-month low of 34,005.76, and the NSE Nifty ended below the 10,500 mark due to widespread sell-off after global rout in stocks returned on worries about rising US interest rates.Continuous outflows by foreign funds also hit sentiment on the street.
The sell-off followed another battering on Wall Street, where the benchmark Dow suffered its second-heaviest daily points fall after key US Treasury bond yields spiked.The index had recovered 330.45 points in the last session.
The broad- based NSE Nifty settled at 10,454.95, down 121.90 points, or 1.15%. It moved between 10,398.20 and 10,480.20 in day trade. Today’s session dragged the benchmark indices to their biggest weekly loss since August 2015: BSE Sensex fell 3% on the week, whereas the Nifty lost 2.8% for the week.
WEEKLY INDEX LEVELS:
Nifty / CMP / Pivot Point / Support1 / Support2 / Support3 / Resistance1 / Resistance2 / Resistance310455 / 10478 / 10253 / 10051 / 9625 / 10680 / 10904 / 11330
Upcoming Week Bank Nifty Movement:
Bank Nifty also opened upside at 26095 butcould not break major level 26425, made high 26317.35 and reverse. While downside bank nifty took support its major level 25000, also took support 30 day ema and closed at 25513.
Yes Bank was leading the losses at 2.84%, followed by ICICI Bank (-2.33%), (HDFC (-2.13%), and Infosys (-2.01%). Although few, gains on the 30-share gauge were led by Tata Steel (1.83%), Dr. Reddy’s (0.73%) and Asian Paints (0.67%).
The Reserve Bank of India (RBI) kept its key policy rates unchanged on Wednesday and retained its “neutral” stance in an attempt to maintain a delicate balancing act and nurture growth.But the central bank raised its inflation expectations for the fiscal yearstarting in April on surging oil prices and after the government announced an increase in rural and healthcare spending in its budget, which would be inflationary.
There are upside risks to inflation, primarily stemming from higher minimum support price (MSP) for kharif crops as stated in the union budget, increase in customs duties,and fiscal slippage.
The latest poll of 26 economists showed consumer prices were expected to have risen 5.14% last month from a year ago, down marginally from December’s 5.20% but still well above the RBI’s medium-term target of 4%.
Still, the central bank is expected to keep rates on hold at least until the second half of 2019, but would consider a hike if inflation breached 6.0%, the upper limit of its inflation target, a poll taken ahead of the RBI’s policy Feb. 7 meeting found.
The RBI on Wednesday announced that it will link the base rate with the Marginal Cost of Funds based lending rates (MCLR) from April 1 this year to ensure that banks pass on the benefit of reduced policy rates to borrowers. Former RBI governor Raghuram Rajan introduced the MCLR in 2016 to calculate the benchmark lending rate in another attempt to make banks pass on policy rate cut benefits to borrowers quickly and in a more transparent manner.
It is observed, however, that a large proportion of bank loans continue to be linked to the Base Rate despite the Reserve Bank of India highlighting this concern in earlier monetary policy statements. Since MCLR is more sensitive to policy rate signals, it has been decided to harmonies the methodology of determining benchmark rates by linking the Base Rate to the MCLR with effect from April 1, 2018, it said.
Under the base rate were following individual methodologies for computing the minimum rate at which they could lend. Under the MCLR, RBI asked all banks to follow the marginal cost of funds method to arrive at their benchmark lending rate.
WEEKLY INDEX LEVELS:
Bank Nifty / CMP / Pivot Point / Support1 / Support2 / Support3 / Resistance1 / Resistance2 / Resistance325513.30 / 25610 / 24903 / 24292 / 22975 / 26220 / 26928 / 28245
Technical Movement:
Tata Global Limited: -
Tata Global Limited: -
Trend of the stock is highly bullish, it took support previous breakout and major major 260, also took support 30 dema and gave strong closing at 279.3 ifit sustains above 280one can go for buying with stop lossat 275for the targets of285-295Trend of the stock is up in weeklychart and strategy advised is buy on dips.
"Tata Global Beverageis a buying opportunity. The stock has corrected and come to a strong support zone. So in a choppy market there will be stocks that go up almost certainly."
Apollo TyreLimited:-
Technical Movement:
Apollo Tyre Limited:-
The stock is giving weeklyresistance269.50 (Made high 272.70) &gave strong closing above weekly major level at 271.25,also took support 30 dema in weekly chart. If it sustains above 270one can go for buying with stop loss at 259for the targets of 280-290, Trend of the stock is up in dailychart and strategy advised is buy on dips.
Previous Archives
LAST WEEK RECO STOCKS / RECO PRICE / TGT / FOLLOW UP / REMARKESCORTS FUTURE / 850 / 880-900 / Done Final Target / MADE HIGH 923.20 CMP 914.05
SUN TV FUTURE / 950 / 985-1040 / Done First Target / MADE HIGH 1008.50 CMP 971.15
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