8/11/2019 Market Outlook by Elite Wealth Advisors Ltd

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2014Contact :

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Market Outlook

29 SeptemberResearch Report By:

Elite Wealth Advisors Ltd.

How Share Market Behaves Today

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8/11/2019 Market Outlook by Elite Wealth Advisors Ltd

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ONE DAY GAINS IN NIFTY AND BANK NIFTY; MARKET MOVES HIGHER AFTER S&P HAS REVISED INDIAS CRED

OUTLOOK TO STABLE; S&P had cut India's outlook to "negative" in April 2012. (This means there is no threat

downgrade anymore)

ANY CORRECTION WILL BE AN OPPORTUNITY TO BUY BLUE CHIPS AT LOWER PRICES; CORRECTION IN MID CAP STOCK

MAY CONTINUE.

Note; S&P has only revised the outlook and not the Credit Rating

Bank Nifty has seen a big up move on Friday and closes higher. This one day big gains give us an

opportunity to sell on rallies. On Monday if prices started drifting downwards then we should be lookin

for a shorting opportunity in Bank Nifty as well Banking Stocks.

CNX IT traded very choppy on Friday and prices closed lower. A trading range is now visible in IT Index

Support for this range comes at 11050 whereas a resistance comes at 11250. The range is very narrow (20

points only). This suggests that sooner we may see a breakout. A close beyond this range with a follow

through on the same direction may give us a trading opportunity in IT Sector. Wait for a confirmation.

Long Term Trend is up in FMCG Sector. Prices are consolidating inside a large range at its top. The secto

is trading very choppy now. FMCG Stocks are in some kind of correction. We will get a buyin

opportunity in this sector when this correction or consolidation gets over. As of now we should avoi

buying in this sector.

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8/11/2019 Market Outlook by Elite Wealth Advisors Ltd

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SCRIP LTP DESCRIPTION

BHARATFORG 814 BHARATFORG has seen a deep correction. Prices are now finding support near 783. B

this stock above 818. If this trade executes then place your stop just below 803 with a tar

near 848.

IBREALEST 73.9 Trend is down in IBREALEST. Prices have seen a sharp upside move and now trading n

its strong resistance at 75.50. Prices may find resistance here and begins a down move. S

this stock below 73.50. If this trade executes then place your stop just above 75.50 wit

target near 69.

IDEA 166.15 Trend is up in IDEA. Prices are consolidating at the top and finding a strong support n

163. Buy this stock above 167. If this trade executes then place your stop just below 163 w

a target near 175

RECLTD 256.40 Trend is down in RECLTD. Prices have seen a sharp upside move and now trading near

strong resistance at 260. Prices may find resistance here and begins a down move. Sell

stock below 255. If this trade executes then place your stop just above 260 with a target n

245.

Private circulation only: Disclaimer; the recommendation made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actiThe information and views contained herein are believed to be reliable but n o responsibility or liability is accepted for errors of act or opinion. Analysts may or may not have trading or investment positions in the securities mentioned herein.

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