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Weekly Report 19th Feb to 23rd Feb 2018.

Upcoming Week Nifty Movement:

Trend wise Nifty was bullish but sentiments were selling, nifty made small red inverted hammer candle in weekly chart. Nifty opened at 10518 and made high 10618 then reverse. While downside broke previous breakout & major level 10500, made low 10434 & also gave closing below major level 10500 (closed at 10452). Nifty last week closed at 10454 and this week also closed near same level at 10452, Nifty was unable to sustain

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Shield Researchabove the major level 10500 since last two weeks. It means strong selling pressure facing in nifty.

On Tuesday, the Indian stock markets were closed for trading on account of Mahashivaratri.

The major indices of the Indian markets suffered a correction on Wednesday and closed with losses over Monday’s close. Broadly positive global markets and bargain hunting lifted the key Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- during the morning and mid-afternoon trade session on Wednesday. However, the market sold off towards due to a sell-off in banking sector stocks.

Positive global cues, coupled with buying in metals, banking and information technology stocks, pushed the key Indian equity indices higher during the mid-afternoon trade session on Thursday. Index heavyweights like ICICI Bank, Infosys, Yes Bank, HDFC and State Bank of India added to the upward trajectory of the key indices.

Key Indian equity indices on Friday traded in the negative territory during the mid-afternoon session on the back of selling pressure in auto, banking, metals, capital goods and consumer durables stocks. At the time of close of trading, the correction in the major indices was around 0.80%-1% over Thursday’s close. The major indices of the Indian stock markets rallied on Thursday and closed with gains over Wednesday’s close.

The major indices of the Indian stock markets were volatile during the week and closed with minor gains/ losses on Friday over last Friday’s close. The Bank Nifty closed in the red on Friday on a weekly basis due to the volatility, after news about the PNB loan scam came out.

For next week support for the index lies in the zone of 10500 to 10400 where break out levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the level of 10100.

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Shield ResearchResistance for the index lies in the zone of 10570 to 10690 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the level of 10900 from where the index broke down after consolidation.

Broad range for the week is seen from 10100 on downside & 10900 on upside.

WEEKLY INDEX LEVELS:Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

10452 10501 10385 10317 10133 10569 10685 10870

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Upcoming Week Bank Nifty Movement:

Bank Nifty also opened upside at 25602 break major resistance 25800, made high 25830 but bank nifty was also unable to sustain above major resistance. While downside took support 30 day ema and closed at 25192.

The pain point has been the bank Nifty as the index is showing sheer weakness amid the Punjab National Bank fraud which not only dragged the Bank Nifty lower but also dampened the sentiment across the street.

Bank Nifty is looking weak, especially the PSU bank index, which has given a fresh breakdown. Bank Nifty has created a bearish flag pattern on the daily chart.

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WEEKLY INDEX LEVELS:Bank Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

25192 25383 24937 24682 23980 25638 26085 26786

Bank stocks were among the top losers with BSE bankex falling 335 points or 1.17% to 28,396 level. Bank Nifty too plunged 1.02% or 260 points to 25,163 levels. Auto and capital goods indices too shed 414 pts (1.65%) and 258 points (1.33%) on the BSE.

SBI, which has been directly affected by such unauthorized transactions, was the top Sensex loser falling 2.55% at 271 points. Reports said SBI had exposure of Rs 1,300

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Shield Researchcrore to the fraud. YES Bank (2.52%), ICICI Bank (2.31%) and Adani Ports (2.08%) were other major losers on the index. The Punjab National Bank stock closed 2.10 percent lower at 125.65 levels. During the last two trading sessions, the stock fell over 20% on disclosure of Rs 11,400 crore frauds by the lender.

State Bank 0f India said it will issue equity shares to government at a price of Rs 300.82 a piece against a capital infusion of over Rs 8,799.99 crore. The issue price is higher than the prevailing trading price on the stock exchanges.

Shares of Gitanjali Gems tanked another 20% after the detection of Punjab National Bank's Rs 11,400-crore fraud. Gitanjali Gems is one of the companies charged by investigating agencies for colluding with Nirav Modi in carrying out the fraud. The stock closed 19.94% or 9.35 points to 37.55 levels on BSE.

State-run Allahabad Bank on reported a net loss of Rs1, 263.79 crore for the quarter ended December 31, 2017, as compared to a net profit of Rs75.26 crore in the year-ago period. The net loss was due to a massive increase in provisions to cover rising bad loans. During the third quarter this fiscal, the bank's provisions for non-performing assets rose over 150% over last year to Rs2,044.23 crore as against Rs795.82 crore for the same period last fiscal. Asset quality of the lender worsened further in the quarter under review as Gross non-performing assets in absolute terms increased by 21.84% to Rs 23,260.81 crore.

Bank of India's (BOI) Q3 earnings was a disappointment because of the steep rise we saw in the non-performing assets (NPAs) as well as slippages but today one of the brokerages pointed out that there is angel in the detail that some of the bad loans could get written back.

Besides, Kotak Bank, Federal Bank and IndusInd Bank and heavyweights like State Bank of India and ICICI Bank were also trading with losses.

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Shield ResearchTechnical Movement:

GAIL Limited: -

GAIL Limited: -

Trend of the stock is highly bullish, it took support previous breakout and major level 457, also took support 30 dema and gave strong closing above pattern breakout at 468.65 if it sustains above 471.50 one can go for buying with stop loss at 450 for the targets of 485-500 Trend of the stock is up in weekly chart and strategy advised is buy on dips.

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Shield ResearchState-run natural gas processing and distribution company GAIL has reported profit growth of 28.4 percent year-on-year at Rs 1,262.2 crore for quarter ended December 2017. Revenue from operations during the quarter grew by 18.8 percent to Rs 14,414.3 crore compared to year-ago was ahead of estimates of Rs 13,132 cr.

 Reliance Industries Limited:-

Technical Movement:

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Shield ResearchReliance Industries Limited:-

The stock is giving weekly resistance breakout 921.60 (Made high 944.70) & gave strong closing above weekly major level at 923, also took support 30 dema in weekly chart. If it sustains above 922 one can go for buying with stop loss at 899 for the targets of 942-960, Trend of the stock is up in daily chart and strategy advised is buy on dips.

Reliance Industries (RIL) has sought the Andhra Pradesh government's support for setting up an international submarine cable landing station (CLS) at Visakhapatnam.

The CLS will connect the east coast to Andaman and Nicobar Islands, Myanmar, south-east Asia and onwards.

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Previous ArchivesLAST WEEK RECO

STOCKSRECO PRICE TGT FOLLOW UP REMARK

TATA GLOBAL FUTURE

280 285-295 Done First Target MADE HIGH 289.80 CMP 275.85

APOLLO TYRE FUTURE

270 280-290 Done First Target MADE HIGH 280 CMP 261.90

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