Stocks And Commodity Tips: Weekly Equity Report - 5 Nov to 9th Nov 2018

NIFTY (SPOT) @ 10553

Nifty this week given close around 10553 with big bullish candle, this week it given close

end of day with +172 points, due to positive global market sentiments and short covering

move, this week is it given positive close but upside it has strong resistance around 10750-

10980 and it has weekly trend decider level is 10393 if it close below then more downside

fall we will see in upcoming day’s so don’t carry heavy position in portfolio downside it will

be test 10180-9800 so be cautious on higher levels, keep close watch on given levels and

global market updates watch out.

BANK @ 25701

Nifty Bank this week given close around 25701 with big bullish candle due to short

covering move and some positive buying but don’t hurry for fresh buying keep close watch

global market update, upside it has first resistance around 26230-26770 and it has weekly

trend decider level is 25320, if it close below then more downside fall possible so be

cautious on higher levels, this week it given close with bullish candle due to short covering

move, so keep close watch on given levels, watch out.

TREND DECIDER THIS WEEK 25320

JUSTIFICATION

ASHOKLYD FUT had been framed a HEAD AND SHOULDER pattern in weekly chart also share trading at major resistance level 119. we have recommended ashoklyd future sell on rise with target 113 to 105 and strong resistance level is 123.90.

JUSTIFICATION

CANBK FUTURE trading at major weekly resistance level 244.90 .Also trading below SMA 50 days. We have recommend sell on rise ( 259 TO 265 ) strategy with target 220 to 199 level and there is strong resistance level 293.45.

JUSTIFICATION

This week ADANIPOWER given close around 49.85 with big bullish candle due to heavy short covering move and fresh buying also, in daily chart found fresh breakout buy on decline strategy best buying around 45-45.5 and keep stop loss of 39 below on closing basis upside it will be test 55-60+ watch out.

JUSTIFICATION

This week ITC given close around 283+ with bullish candle due to short covering move and fresh buying also, in daily chart found fresh breakout buy on decline strategy best buying around 279-280 and keep stop loss of 274.8 below on closing basis upside it will be test 288-294 watch out.