Capvision Weekly Equity Newsletter 9-2-2015

INDORE, India - Feb. 9, 2015 - PRLog -- MARKET WRAP FOR NIFTY & BANK NIFTY

Nifty:-

This week nifty ware trading below the previous week close and down for correction and profit booking. In fourth trading day nifty shown high volatility to take a high of 8838 and close at 8698. Nifty take supports of EMA 13, so recommendation for nifty to short for 8600-8500 to maintain SL above previous week high.

Indicators MADC and RSI shown breakouts from 278 and 70.

Bank Nifty:-

This week Bank nifty ware down and trading below the level of previous week close. And continual down to 18825 in correction made. It has break a channel which has been generated since sept-14.on Monday bank nifty ware positive a little bit, then after continual profit booking seen at there, close 18786. So recommendation for bank nifty to short for 18900-19500.sl-20100.

Indicators MADC and RSI are down to 1126 and 70.

Stock Recommendation

Nifty:-

Date: 09/02/2015

Call: SHORT

CMP: 8665.80

Initiation Level: 8700

Book Profit (Level 1): 8600

Book Profit (Level 2): 8500

Stop Loss: 8850

Conviction Level: moderate risk

Reasoning: CORRECTION

Short term Trend: CORRECTION

Medium Term Trend: Up

For the long term Traders: long in deep.

For Aggressive Traders: sell on rise

Support: 8600-8400

Resistance- 8900 10069-10454-10816

Duration: 4-5 Days

Bank Nifty:-

Date: 09/02/15

Call: SHORT

CMP: 18877.85

Initiation Level: 18900

Book Profit (Level 1): 18750

Book Profit (Level 2): 18500

Stop Loss: 20100

Conviction Level: moderate risk

Reasoning: correction

Short term Trend: correction

Medium Term Trend: UP

For the long term Traders: long in deep.

For Aggressive Traders: Sell on rise.

Support: 18500-18000

Resistance- 20100 10069-10454-10816

Duration: 4-5 Days

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