Equity Report Outlook|24 carat financial services | Equity Weekly Roundup

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Equity tips:-

NIFTY:-

 

Index View-:

    NIFTY:-

9,788.60 +19.65 (0.20%)
Sep 29 - Close

Nifty Tips


Weekly Recap:

  • The Niy started the week with a connuaon of the correcve trend on Monday. Post a range bound session, the selling pressure exaggerated as the index eventually went on to breach the 9700 mark on the derivaves expiry day.
  •  However, the index recovered some of the losses at the end of the week and ended the week below 9800, registering a loss of 1.76 percent over its previous week's close. Niy Index change in last week (-1.8%).
  • Key Moving Averages: 7 days EMA is places around 9903 while 21 days EMA is placed around 9719. & Key Indicator: MACDH ( E7,E9, E21close) is placed around -38.92. 

Future outlook :

  • The relentless fall kept on breaking hopes for the bulls as most of the intermediate supports got violated in this course of acon. Now, there is last ray of hope for the short term buyers as recent swing low of 9685.55 remains intact.
  • This week, somehow bulls managed to defend 9685; but, going ahead, we do not expect the same kind of strength to be Infused in the market. You would have in between rebounds  but, one needs to understand that the short term de has turned and any relief rally in coming days is likely to get sold into.
  • Going ahead, 9854 – 9921 would be seen as a sturdy wall for the index. On the flip side, we may see index sliding below 9685 to test lower levels of 9640 – 9560 in days to come. Traders are advised to stay light and not to get carried away by such bounce backs.
 

BANKNIFTY:-    

24,053.00 +44.85 (0.19%)
Sep 29 - Close

Banknifty

 Weekly Recap:

  • The week started on a negave note as the Bank Niy pour down 300 points on opening day on Monday. The index then traded in a narrow on Tuesday. On Wednesday markets failed to hold on as indices came tumbling down almost 450 points in single day. Bank Niy index made a low of 23611 on Thursday before it bounce back from its 100 days moving averages and give closing above 24000 mark.
  • On Friday, indices show some posivity in morning session but could not hold its important support of 24200 and give closing @ 24053. Bank Niy Index change in last week (-1.29%).
  • Key Moving Averages: 7 days EMA is places around 24309 while 21 days EMA is placed around 23679. & Key Indicator: MACDH ( E7,E9, E21,close) is placed in negave zone around -143.62. 

Future outlook :

  • This week, somehow bulls managed to defend 24000; but, going ahead, we do not expect the same kind of strength to be infused in the market. Going ahead, 24400-24600 would be seen as a sturdy wall for the index.
  • On the otherside, we may see index sliding below 24800 to test lower levels of 23500-23300 in days to come. Traders are advised to stay light and not to get carried away by such bounce backs.

Market News:-

Lupin receives USFDA approval for generic Acticlate Tablets

  • Ipharma major, Lupin announced on Friday that it has received final approval for its Doxycycline Hyclate Tablets USP, 75 mg and 150 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Aqua Pharmaceuticals, LLC’s Acticlate Tablets, 75 mg and 150 mg.
  • Lupin’s Doxycycline Hyclate Tablets USP, 75 mg and 150 mg are the AB-rated generic equivalent of Aqua Pharmaceuticals, LLC’s Acticlate Tablets, 75 mg and 150 mg. They are used for the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne. 
  • In Friday’s trade, Lupin closed at Rs 1,013.25 per share, higher by 0.82% on BSE. The stock hit an intraday high of Rs 1,017.35 per share and an intraday low of Rs 1,007 per share on BSE on Friday. The stock had recorded a traded volume of 11,98,257 shares and a traded value of Rs 12,133.55 lakh on NSE. 
  • The stock had hit its 52-week high of Rs 1,572.25 per share on February 6, 2017 and its 52-week low of Rs 920 per share on August 21, 2017 on BSE, respectively. 

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