A person who keeps patience is sure to win in share market - Suresh Rathi
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A person who keeps patience
is sure to win in share market.
Wealth Creator thru Systematic Investment
Suresh Rathi
Suresh Rathi
Wealth Creator thru Systematic Investment Daily Research Reports
Disclosures and Disclaimer : This report must be read with the disclosures in the Disclosure appendix,
and with the Disclaimer, which forms part of it. This document does not contain any investment views or opinions.
Suresh Rathi Market Forecast Thursday
Wealth Creator thru Systematic Investment 29th July, 2021
Good Morning & Welcome to Thursday’s trading action at Dalal Street INDICES
dated 29th of July 2021.
Nifty 15709 -0.24%
The numbers are in and the verdict is out.
Bank Nifty 345433 -0.76%
First the numbers: The reign of doves is extended yet again as the policy-setting
Nifty Auto Index 10000 -0.93%
Federal Open Market Committee (FOMC) signaled that it plans to keep a key U.S.
short-term interest rate near zero while projecting the U.S economy has made Nifty FMCG Index 36360 0.00%
progress towards the standards it set for starting to slow down its bond-buying
program --- but not enough progress to start tapering yet. Nifty Infra Index 4418 0.03%
The Fed indicated that it will continue buying bonds at the current $120 billion a Nifty IT Index 29954 0.21%
month pace. Powell stressed again that he expects inflation to eventually pull back Nifty Media Index 1747 -0.25%
closer to the Fed’s 2% annual target.
Nifty Midcap Index 7471 -0.33%
The Verdict: Dow and S&P 500end lower despite Fed’s upbeat view of the U.S
economy. The yield on the benchmark 10-year Treasury rose Wednesday to 1.229%. Nifty Metal Index 5533 1.22%
What comes next for Nifty and Bank Nifty? Nifty Pharma Index 13965 -0.38%
In early action, SGX Nifty is pointing to the green but traders are advised to keep in Nifty Reality Index 391 -0.79%
mind that it’s July derivative expiry day. Nifty Smallcap Index 10381 -0.50%
Long story short: Volatility likely to be the hallmark. Sensex 52444 -0.26%
# Preferred trade on Nifty (15709): Buy between 15625-15650 zone. Stop
SGX Nifty 15692 -0.10%
15421. Targets 15821/15963. Aggressive targets at 16201.
# Preferred trade on Bank Nifty (34533): Sell between 34751-34901 zone.
Stop 35501. Targets 33883/33231. Aggressive targets at 32589. Weakening
Outlook for the Day
momentum
Volatile session likely.
Outlook for Thursday: SAIL & NAUKRI are our preferred
bets on the buy side.
Well, the current state of markets can be defined as driving with one foot on the brake Nifty Outlook
and the other pressing on the accelerator pedal. The reopening of economies and
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optimism about a global recovery are themes working in favor of bulls while persistent Intraday Neutral (15449-15857)
selling from the FIIs camp continues to dampen investors’ sentiments. Positive (15151-16250)
Medium Term
That brings us to our call of the day which says traders are likely to go through fire and Long Term Positive (13501-16501)
water. That said, we suspect —— it will be totally worth it.
Volatility to be the hallmark as July F&O contracts expire today. Also, there are no
shortages of potential catalysts like the worsening relations between the U.S. and
China, the U.S GDP on deck while earnings seasons at home picking up the pace. Key Levels to Watch
TOP SECTORS: Nifty Support 15459/15257
# Bullish Sectors: Metals, IT. Nifty Resistance 15857/16027
# Bearish Sectors: Auto, Banks.
STOCKS IN FOCUS:
Pivot Level
Nifty 15411
# BULLISH STOCKS: DLF, VEDANTA, JSW STEEL, TECH MAHINDRA, PIDILITE,
TATASTEEL, UPL, HINDALCO, JINDAL STEEL & POWER, SBIN.
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# BEARISH STOCKS: APOLLO TYRES, INDIAN HOTELS, MOTHERSON SUMI,
RELIANCE INDUSTRIES, BIOCON, BANDHAN BANK, M&M FINANCIAL. Technical Strategy
# Our chart of the day is bullish on NAUKRI, STEEL AUTHORITY, JINDAL VEDANTA 270
STEEL & POWER and DLF with an interweek/inter-month perspective.
Action BUY
# The 1 Stock to Buy Right Now: Intermonth Strategy: Buy at CMP. Stop 4997.
Targets 5629/5881. Aggressive targets at 5881. NAUKRI is signaling a massive
Target 321
Flag Pattern breakout on the monthly charts. Key support at 5011 mark.
# FY21-22 Q1 earnings to trickle in this week: It’s the busiest week of first- Support 253/241
quarter earnings season.
Resistance 297/321
# PVR, TECHM, DEEPAKNTR, MRPL, RAYMOND, AJANTAPHARM,
INDUSTOWER, LICHSGFIN, COLPAL, CONCOR, PARAGMILK, POLYMED. Holding Period 60-90 days
# Friday, 30th July 2021: BRITANNIA, MARICO, BANDHANBANK, UPL,
LALPATHLABS, BHEL, NIITLTD, ABFRL, CHOLAFIN, VGUARD, Incorporated in the year 1965, Vedanta Ltd is one of the world's
leading diversified resources producing company which include
SRTRANSFIN, SUNTECK, PIIND. aluminum, Oil & Gas, copper, Iron Ore, zinc-lead-silver, Power and
scrap. Vedanta is also one of the largest resources company in India.
# Saturday, 31st July 2021: CDSL, IDFCFIRSTB, NTPC. Aluminum:
• Largest aluminum capacity in India with captive power and an
# Maruti reported a standalone net profit of Rs 440.8 crore for April-June quarter alumina refinery.
• 9th largest Aluminium producer globally in terms of smelting
of FY22 (Q1FY22), hit by increased tax expenses and lower sale volumes. The production.
company had posted a net loss of Rs 249.4 crore in the year-ago period.. Zinc & Silver:
• One of the Largest integrated zinc- lead smelter.
# Torrent Pharma reported a 2.8% year-on-year (YoY) rise in Q1FY22 net profit at • Rampura Agucha – largest* underground mine globally.
Rs 330 crore, helped by India formulation, despite steep fall in US revenues. • 6th largest silver producer globally.
• Gamsberg - one of the largest zinc deposits in the world.
Oil & Gas:
WHAT TECHNICAL TELLS US ON NIFTY/SENSEX: • India’s largest private sector crude oil producer.
• One of the lowest cost producers in the world.
• Strong exploration fundamentals supports reserves and resources
Daily chart of Nifty: growth (OALP 51 blocks having >5.5 mmboe with 65,000 sq km
average).
Iron & Steel:
• India's largest private sector exporter of iron ore since 2003,
according to the Federation of Indian Mineral Industries.
• ESL Steel is engaged in the manufacturing of steel with a total
current capacity of 1.5 Mt per year and the potential to increase to
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Suresh Rathi
3 Mt per year.
The firms’ has business operations in India, South Africa, Namibia, and
Australia. The key positive catalyst in favor of Vedanta’s stock price is
the firm’s improving operating performance, supported by stable
volume across business segments and increased commodity prices.
85%+ of EBITDA comes from Zinc, Aluminium and Oil & Gas. The
company is well positioned to fulfill the current commodities demand
through its strong reserve of ores. The magnificent uptick in metal
prices augurs well for domestic metal companies like Vedanta would
have a positive rub-off on its financial performance. Amidst this
backdrop, Vedanta’s Ebitda is expected to improve to more than Rs
35,000 crore in fiscal 2022. Also, with the ongoing cost optimization
efforts, the company should continue to improve margins in upcoming
quarters.
Technically, brace yourselves for a major rebound play on the daily
charts from a classic ‘Flag higher consolidation pattern’ breakout on
# Technically speaking, the bulls are seen fighting back control, looking to the weekly charts. An impulse uptrend is seen forming on the monthly
time scale, with positive SAR series, major confirmation above its May
recapture Nifty’s all-time-high at 15963 mark. For the day, if Nifty’s 15857 2021 highs at 286 mark.
barrier is taken out convincingly then simply expect Nifty to rip to its Add to that a bullish divergence and a rising stochastic signal (on
weekly charts) with recent increase in volumes signaling a larger
psychological 16,000 mark and then aggressive targets at 16201 mark. rebound. The 200 days Exponential Moving Average (EMA) of the
Downside likely to be limited to 15590-15625 zone. stock on the daily chart is currently at 177.50 zone.
A potential entrance exists at CMP, and on dips between 253-257.50
# Only if Nifty slips below the 1513 mark then it’s safe to assume that rising zone, targeting 296 mark and then aggressive targets at 321 mark.
Holding Period: 3 Months+. Stop at 243. Aggressive -12 months
inflation risks are spoiling the party at Dalal Street with targets at 15151-15201 psychological targets at 375 mark.
Wealth Creator thru Systematic InvestmentSuresh Rathi Market Forecast
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zone. Nifty’s 200 day EMA at 14315 mark. The price action for Nifty in near term is suggesting that we are likely to see a 15,500-
16200 range in near term.
# Bank Nifty: Confirmation of strength only above 36,000 mark. Above 36,000, Bank Nifty will aim to reclaim its all-
time-high at 37,709 mark. The biggest support seen at 33883 mark. Momentum seen weakening for Bank Nifty
index.
DERIVATIVE & INSTITUTIONAL CUES:
# The options data for July series suggests Nifty is likely to be in a trading range of 15500-16000 zone. Maximum Call OI is at 15800
followed by 16000 strike price. So, 15800-16000 zone are Nifty’s crucial resistance zone. Maximum Put open interest stands at 15500
levels followed by 15600 levels. Call writing was seen at 15700 and then at 15500 strike price, while there was meaningful Put writing
at 15200 and then at 15600 strike prices.
# The Put-Call Open Interest Ratio is at 0.97 for Nifty.
# As per Friday’s provisional data available on the NSE, FIIs sold shares worth Rs. 163.31 crores in the Indian Equity Market. DIIs on the
other hand bought shares worth Rs. 2187.80 crores in the Indian Equity market.
# As per Monday’s provisional data available on the NSE, FIIs sold shares worth Rs. 2376.79 crores in the Indian Equity Market. DIIs on
the other hand bought shares worth Rs. 1551.27 crores in the Indian Equity market.
# As per Wednesday’s provisional data available on the NSE, FIIs sold shares worth Rs. 2274.77 crores in the Indian Equity Market. DIIs
on the other hand bought shares worth Rs. 921.45 crores in the Indian Equity market.
# Stock banned in F&O segment: IDEA, SUNTV.
The POSITIVE CATALYSTS:
1. Dow at 35000+. Record highs at Wall Street.
2. The reopening of the economy and optimism about a global recovery.
3. Decline in COVID cases and a pick-up in vaccination drive
4. Low interest rates environment.
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5. The central banks likely to stick to a dovish stance.
6. Expected upbeat results from India Inc.
7. Normal monsoon.
8. The slight optimism for our stock markets is also on backdrop of the fact that the volatility index has dropped to 12.45 levels. Well, a
lower VIX level is seen bullish for stocks.
9. The blockbuster listing of online food delivery company Zomato is likely to boost up sentiments further.
THE NEGATIVE CATALYSTS:
1. Sentiment dented by China's widening crackdown of the technology sector and a statement from Beijing that the U.S.-China
relationship was "now in a stalemate and faces serious difficulties."
2. Nifty and Sensex are again aiming to reclaim with their all-time-highs but the foreign institutional investors continue to be the in the
sell side taking money off the table. FIIs have sold to the tune of Rs 18, 478.82 crore in the month of July.
Wealth Creator thru Systematic InvestmentSuresh Rathi Market Forecast
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3. Emerging stock markets like India and Brazil are again seen underperforming Wall Street.
4. Rising Inflation
5. Rising oil prices.
6. India’s: Fiscal Deficit (FY22B) 6.8%
7. Expected 3rd wave of coronavirus.
8. Rising covid cases put the economic recovery at risk.
9. India’s share of global active coronavirus cases now stands at 2.97% (one in 33). The country is seventh among the most affected
countries by active cases.
10. The market breadth continues to send a warning.
ECONOMIC CUES:
# Can worsening U.S-China relations unsettle investors at Dalal Street?
Well, the biggest economies have poured hundreds of billions of dollars into each other. That should be enough to keep the peace.
Honestly speaking, if their investments now start to decline, then the future of both the U.S. and China will start becoming gloomy.
A possible meeting between Biden and Chinese President Xi Jinping is expected to be on the agenda, possibly on the sidelines of the G-
20 summit in Rome at the end of October.
# The Reserve Bank-led monetary policy panel is scheduled to announce the third monetary policy review on August 6 on backdrop of
continuing spike in retail inflation that has breached the 6% upper tolerance level for the past two consecutive months. The MPC is
likely to maintain its dovish stand.
# Auto finance companies are expected to post a sharp rise in bad debts due to Covid-19-related shutdowns announced by various State
governments in April and May. The auto loan business of Bajaj Finance--the first non-banking finance company to announce results for
June quarter--has reported a sharp rise of 19 per cent in bad debts in the June quarter, led by defaults in the two- and three-wheeler
segments.
GLOBAL STOCK MARKETS:
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Overnight at Wall Street, Stocks finished mostly down after the Federal Reserve left interest rates unchanged, as expected, but said
progress has been made on the central bank's goals for employment and inflation, indicating changes to the Fed's stimulus could be
coming.
The Federal Reserve also noted that the path to a sustained economic recovery "depends on the course" of the coronavirus and the pace of
vaccinations.
The Dow Jones Industrial Average ended down 128 points, or 0.37%, to 34,984, the S&P 500 fell 0.02%, while the Nasdaq rose 0.7%.
The yield on the benchmark 10-year Treasury rose Wednesday to 1.229%.
In the week gone by, Dow was up 1.07% at 35061.55, the S&P 500 was up 1.96% at 4411.80 and the Nasdaq clearly outperformed
everyone as it ended 2.84% higher at 14837.
IPOs and LISTINGS:
Glenmark Life Sciences opened for subscription from 27th July 2021 and it will remain open for bidding till 29th July 2021. The
firm is 100%, a wholly-owned subsidiary of Glenmark Pharmaceuticals Limited.
Wealth Creator thru Systematic InvestmentSuresh Rathi Market Forecast
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Incorporated in 2011, Glenmark Life Sciences Ltd (GLS) is a leading developer and R&D driven manufacturer of select high value, non-
commoditized APIs in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management and
diabetes. They also manufacture and sell APIs for gastro-intestinal disorders, anti-infectives with strong market share in select specialised
APIs like Telmisartan (anti-hypertensive), Atovaquone (anti-parasitic), Perindopril (anti-hypertensive), Teneligliptin (diabetes),
Zonisamide (CNS) and Adapalene (dermatology).
As of FY21, it had a portfolio of 120 molecules globally, sold APIs in India and exported APIs to multiple countries in Europe, US, Latin
America, Japan and Rest of the world. As of May 31, 2021, it had filed 403 DMFs and CEPs across various major markets (i.e. United States,
Europe, Japan, Russia, Brazil, South Korea, Taiwan, Canada, China and Australia). As of March 31, 2021, they had a portfolio of 120
molecules globally; 16 of the 20 largest generic companies globally were their customers. Revenues from regulated markets were 65.64%
of FY21 revenues. For the financial years 2021, 2020 and 2019, approximately 69% of their customers were period-on-period repeat
customers.
GLS currently operates four multi-purpose manufacturing facilities which are situated on leasehold properties in Ankaleshwar, Dahej in
Gujarat and Mohol, Kurkumbh in Maharashtra with an aggregate annual total installed capacity of 726.6 KL as of March 31, 2021.
GLS also have a long history with many of their key customers, including Glenmark, Teva Pharmaceutical Industries, Torrent
Pharmaceuticals, Aurobindo Pharma, Krka and another company which is a global leader in generic pharmaceuticals and biosimilars.
Investors’ should ‘SUBSCRIBE" on backdrop of the GLS’ strong relationships with leading global generic firms backed by
experienced management team with proven track record.
The total issue size is of Rs. 1514 crore (at Rs. 720/share). It includes a fresh issue of Rs 1060 cr and an Offer for Sale (OFS) of Rs 454 cr.
The company's market cap would be 8740 cr post issue. In the year FY21.
Rolex Rings’ IPO opened for subscription on 28 July 2021. Rolex Rings, one of the top five forging companies in India in terms of
installed capacity.
The IPO comprises a fresh issue of up to Rs 56 crore and an offer for sale of up to 75 lakh equity shares by Rivendell PE LLC. The issue will
close on July 30.
The company, in consultation with merchant bankers, will finalise its issue price band on Monday, July 27.
The company will utilize the net proceeds from the fresh issue for funding long-term working capital requirements; and general corporate
purposes.
Rolex Rings is a manufacturer and global supplier of hot rolled forged and machined bearing rings, and automotive components for
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segments of vehicles including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles, electric vehicles), industrial
machinery, wind turbines and railways, amongst other segments.
RECAP OF PREVIOUS TRADING SESSION:
In yesterday’s trade, cautiousness prevailed ahead of Fed meet outcome.
Well, Dalal Street started yesterday’s trade on a ugly note on backdrop of 5-negative catalysts like:
1. IMF sentiment downgrade.
2. FIIs uninterrupted selling.
3. Escalating covid concerns.
4. Weighing US-China trade tensions.
5. Anxiousness ahead of Fed meet outcome.
But the positive takeaway was that after an ugly start and mostly an ugly day the benchmarks witnessed heavy short covering as Nifty was
able to reverse most of its first session’s losses. Bargain hunting and value buying was also was seen helping the rebound.
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Bharti Airtel was the star outperformer, up 5% + followed by Tata Steel, up 2.84%* and then Indusind Bank up 1.76%.
Among sectors, metal index continued to be in limelight, adding over 1%. However, selling was seen in the auto (-0.97%), PSU Bank(-
1.90%)and Reality (-0.74%).
Banking stocks mostly underperformed after the International Monetary Fund on Tuesday forecasted India's economy to grow 9.5 per cent
in 2021-22 - a cut of three percentage points from its earlier forecast - citing a lack of access to vaccines and renewed waves of Covid-19
cases.
Anxiousness also prevailed as investors awaited the Fed decision to trickle in on Wednesday, 28th July 2021.
Investors were also cautious ahead of the Federal Reserve's decision to trickle in late this evening IST. Digging deeper, the Federal Reserve
is grappling with strong growth and higher inflation, against concerns about the virus. Expect volatility to hit the roof if the Fed cites both
progress and dangers ahead.
The street will also spy with one big eye on more hints on tapering.
The other key highlights of today’s trade:
# Ugly Start, Ugly Day ends on a Cautious Note.
# Nifty falls for 3-days in a row.
# Bank Nifty index (-0.76%) underperforms Nifty’s losses of 0.24%.
# Only 23 of the Nifty 50 stocks end the day in green.
# Top Index Gainers: BHARTI AIRTEL (+5.04%), TATA STEEL (+2.81%), SBI LIFE (+2.16%)
# Top Index Losers: KOTAK BANK (-2.59%), DR REDDYS LAB (-2.55%), TATA MOTORS (-2.20%)
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TOP PICKS (F & O)
It's like having investment binoculars !
Info-Edge (Naukri) to be on Fire. Blockbuster listing of Zomato is stoking the flames.
STOCKS LTP S1 S2 R1 R2 BIAS TRADING STRATEGY
Interweek Strategy: Buy at CMP. Stop 319. Targets
339/347. Aggressive targets at 363. DLF is signaling a
DLF 332 321 315 345 363 Positive breakout from a probable Higher consolidation zone on
the daily charts.
Interweek Strategy: Buy at CMP. Stop 397. Targets
JINDAL STEEL 420 403 391 437 451 Positive 437/451. Aggressive targets at 477. Oversold conditions
& POWER prevail. Confirmation of strength above 437.
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Intermonth Strategy: Buy at CMP. Stop 4997. Targets
5629/5881. Aggressive targets at 5881. NAUKRI is
NAUKRI 5255 5011 4811 5629 5881 Positive signaling a massive Flag Pattern breakout on the
monthly charts. Key support at 5011 mark.
Intermonth Strategy: Buy at CMP. Stop 124.05. Targets
SAIL 134 129.75 125.05 141 153 Positive 141/153. Aggressive targets at 169. Probable extended
Flag Pattern on weekly charts.
Intermonth Strategy: Buy at CMP. Stop 261. Targets
277/297. Aggressive targets at 321. The sequence of
VEDANTA 270 263 243 277 297 Positive higher high/low intact on weekly/monthly charts. Key
support at 263 mark.
Wealth Creator thru Systematic InvestmentThursday
Suresh Rathi EQUITY DERIVATIVES 29th July, 2021
Wealth Creator thru Systematic Investment Looking into the future from present.
Derivatives Strategies
Changes in Open Interest (OI) in yesterday’s trade.
Future Call: SELL RELIANCE INDUSTRIES AUGUST FUTURES
Nifty Spot 15709.40 (-0.24%)
between 2065-2071 zone. Targets at 2017 and then at 1984. Stop:
2135. Holding Period: Intraday. Analyst’s Remark: Breaking Down Bank Nifty Spot 34532.90 (-0.76%)
(RELIANCE INDUSTRIES AUGUST Futures CMP 2045.80)
VIX 13.6925 (+3.48%)
Option Call: SELL NIFTY 05th AUGUST CE Strike Price 15700 at Premium -02 vs -08
CMP 130.00. Maximum Profit: Rs. 6,500.00/-. Loss: Unlimited. Nifty Future OI 0.45 crores (-32.19%)
Stop: Exit Call Option if NIFTY moves below 15845. (NIFTY AUGUST
Futures CMP 15745.00). Bank Nifty Future OI 8.29 lakhs (-42.42%)
Market Summary: Cash Volumes Day Before
Yesterday
(INR in Cr.) Yesterday
• Nifty July Futures ended Wednesday’s session at a discount of -02 vs
discount of -08. BSE Cash Vol.
4997.17 5437.98
(Rs. in Cr)
• The 29th July expiry Put-Call Open Interest Ratio was at 0.74 for
NSE Cash Vol.
Nifty whereas it was 0.64 for Bank Nifty. 67,265.52 70,711.32
(Rs. in Cr)
• The 29th July expiry Put-Call Volume Ratio was at 0.86 for the Nifty NSE Derivative
69,15,352.05 48,40,683.51
and 1.02 for Bank Nifty. Vol. (Rs. in Cr)
• For Nifty, Maximum Call Open Interest (OI) stands at 15800 Strike
Derivatives Vol. No of Turnover
Price, followed by 16000 Strike Price for 29th July Series. Short
(INR in Cr.) contracts (Rs. In cr.)
buildup was seen at strike prices 15700-15900.
• Maximum Put Open Interest (OI) was seen at strike price 15500 Index Future Volumes 5,28,962 43,166
followed by 15600 strike prices for 29th July series. Short covering
was seen at strike prices 15800-16000. Stock Future Volumes 18,29,221 1,44,854.47
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Index Option Volumes 7,85,31,703 65,08,428.25
Strike Price and Maximum Put Open Interest stands at 34000 Strike
Price. Stock Option Volumes 26,73,610 2,18,903.65
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• As per Wednesday’s provisional data available on the NSE, FIIs sold
Total 8,35,63,496 69,15,352.05
shares worth Rs. 2274.77 crores in the Indian Equity Market. DIIs on
the other hand bought shares worth Rs. 921.45 crores in the Indian
Equity market. Major Changes in Nifty Options (OI)
• Long Buildup: TATASTEEL, JSWSTEEL, DIVISLABS, SRF. Calls in lakhs (% Change)
• Short Buildup: SBIN, L&TFH, M&MFIN, RELIANCE, HDFCBANK. 16200 26.14 (-30%)
16300 20.48 (-37%)
• Short Covering: BHARTIARTL, GRANULES, BIOCON, AUROPHARMA.
16400 12.85 (-36%)
• Long Unwinding: CANBK, DLF, GAIL, IBULHSGFIN.
• Stocks banned in F&O segment: IDEA, SUNTV. Puts in lakhs (% Change)
• New in Ban: SUNTV. 15700 35.26 (-22%)
15800 15.62 (-52%)
• Out of Ban: SAIL.
15900 9.79 (-27%)
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The Navigator
…Sailing global trend
Federal Reserve says economy has made progress but not enough to start tapering assest purchases.
Instrument LTP S1 S2 R1 R2 Bias TRADING STRATEGY
Interweek Strategy: Establish buy positions only above 1829 zone.
GOLD $ 1796 1787 1753 1849 1881 Neutral Targets 1849/1881 mark with stop at 1776.
Interweek Strategy: Establish buy positions only above 26.69 zone.
SILVER ($) 25.24 24.69 23.67 27.45 30.55 Neutral Targets 27.45/30.55 with stop at 24.41.
WTI CRUDE Interweek Strategy: Establish buy positions at CMP. Targets 75/77.50 and
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72.36 70.05 68.75 75 77.5 Positive then at 79.50 zone stop at 69.05.
OIL ($ )
Interweek Strategy: Establish short positions between 1.1855-1.1875
EUR/USD 1.1837 1.1721 1.1698 1.1929 1.2251 Neutral zone. Targets 1.1721/1.1698 with stop at 1.1949.
Interweek Strategy: Establish buy positions at CMP. Targets 93.05/94.25
US Dollar Index 92.55 91.79 90.00 93.05 94.00 Neutral with stop at 91.49.
Overbought technical conditions prevail. Interweek Strategy: Establish
DOW JONES 35013 34551 32795 35289 36219 Positive buy positions at CMP. Targets 35289 and then aggressive targets at
36219 mark with stop at 34259.
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to forecast future price and market movements. Technical analysis is complementary to
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Suresh Rathi be contrary to recommendations issued by Suresh Rathi Group in the company research
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the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report)
Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No.
• Firm interest of the stock / Instrument (s): - No.
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