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email: research@way2wealth.com website: www.way2wealth.com
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Nifty
BankNifty
27th
Jan 14
Prices in the past week provided the valid breakout
from the rising wedge providing upside price target
of 20800. Index gained 4.42% in the past week and is
likely to continue the upsurge until it hits our price
target of 20800. After such a sharp rise prices are
likely to retrace some of its rise before heading
northwards, immediate support is pegged at 19820 if
tested same can be used to create/add long
positions. Daily RSI is valued at 74.09 signaling test
of support level.
Action Entry Target Stop
Buy Around 19820 20800 19380
Note: The above levels are for BankNifty Spot.
In line with our expectations the Nifty inched high and
ended at 8835.6 which is all time high. Immediate
resistance in it is pegged at 8950 levels and some profit
booking from the same cannot be ruled out. Only a
sustainable rise above 9050 levels can take the index to
9200 or higher levels. Daily RSI is valued at 73.49 which
is overbought reading and is supporting some profit
booking around the resistance line. Immediate support
is pegged at 8625 levels if tested before resistance line
same can be used to initiate fresh long positions.
Action Entry Target Stop/Reversal
Sell Around 8940 8650 9060
Buy On dips at 8650 8940 8590
Note: The above levels are for Nifty Spot.

2. WAY2WEALTH Securities Pvt. Ltd.,
3rd Floor, Tower B, Hincon House, 247 Park, LBS Road, Vikhroli (West) Mumbai - 400083. Tel +91 22 6146 2900
email: research@way2wealth.com website: www.way2wealth.com
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APOLLOHOSP Future
CIPLA Future Counter after hitting the life time high of 674 in late
October entered into a consolidation phase and in
the Friday’s session prices broke out from the
consolidation range. This consolidation of over two
months has resulted in a triangular pattern and has
provided price target of 835. Daily RSI is in line with
the price structure. Correction/pullback if any can
be used to initiate long position.
Action Entry Target Stop
Buy Around 675 760 635
The stock future after turning its direction from the
rising support line at 1089 has now penetrated the
rising resistance line pegged at 1262. This has
completed the rising wedge pattern on the daily
chart and same has provided the upside price target
of 1500. Daily RSI is valued at 76.85 is signaling
retest of the resistance turned support line likely at
1266. Same can be used to initiate long positions.
Action Entry Target Stop
Buy Around 1270 1390 1224

3. WAY2WEALTH Securities Pvt. Ltd.,
3rd Floor, Tower B, Hincon House, 247 Park, LBS Road, Vikhroli (West) Mumbai - 400083. Tel +91 22 6146 2900
email: research@way2wealth.com website: www.way2wealth.com
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M&M Future
=
Prices after retracing 61.8% of previous impulse
wave from 1115 to 1428 consolidated in the range of
1210 to 1350. In the past week prices have broke out
from the trading range and now are likely to enter in
to uptrend. This can take prices to higher levels of
1480. Positive diversion visible in daily RSI is
supporting our bullish view in the counter.
Action Entry Target Stop
Buy Around 1355 1480 1299

4. WAY2WEALTH Securities Pvt. Ltd.,
3rd Floor, Tower B, Hincon House, 247 Park, LBS Road, Vikhroli (West) Mumbai - 400083. Tel +91 22 6146 2900
email: research@way2wealth.com website: www.way2wealth.com
Way2wealth Research is also available on Bloomberg WTWL <GO>
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