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Equity Research Report 02 November 2016 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : -

NIFTY - The Equity benchmark Nifty opened in a Positive Note on Monday

up by 16 points or 0.18 per cent at 8709. Benchmark Nifty closed on a Positive note on last
week. The Nifty Index Retesting Long -Term trend line breakout around 8740 levels on
Weekly basis, Still Nifty trading below the Channle line Level of 8737 major Resistance on
Weekly Chart. The Number of Nifty Stocks come out with Their Results, The Market will
discount for as the market open for the market Next week. Nifty 50 closed at 8615 in the
October Series which was the same price at which the series started. The New series has some
major events like FOMC meet in the First week of November and US Presidential elections on
November 8. These events are expected to bring in volatility in all global markets including
India. Close above the 8800 on Weekly basis will push the Nifty to highs of 9000 above with
trend weakning one has to wait for the markets to give clear indication that bulls are still in the
market. The Crucial levels of Nifty for Next week is 8660-8680 Up side and 8580-8520 is
Down side.
BANK NIFTY : -

The Bank Nifty opened in a Positive note on Monday Up by 53 points or 0.26

per cent at 19763. Some correction might be seen in Bank Nifty as it is Unable to cross 19800
Resistance Since last four trading sessions. Last week the Bank Nifty was the Performer of the
week Recovering from the lows of 18900 to 19700 odd levels. Banking Stocks in Particular
are big performers in recent week’s With ICICI Bank going up 18 per cent in last few trading
Sessions. Despite lackluster Fundamentals, banking sector stocks have performed poorly from
early September till mid October because of corrective downtrend in Bank Nifty. The down
trend line persisted from September and price action traded in respect to the trend line
perfectly. But the prices rebounded as we near the end of October. Market took support at
19000 and eventually broke the bearish trend line which was intact since September. Traders
should keenly watch the price action in bank nifty; it may offer some high probabilitical
trading setups. Price action broke the trend line at trading intersection of 19500. It is necessary
to decide whether the breakout is valid or not. As we move towards the Diwali occasion,
sometimes seasonality factors may play a major role and influence the price action. The
Significance levels for Bank Nifty is 19721-20291 is Up side and 19333-19151 is down side.

Monday, 02 November 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

R2

R1

PP

S1

8837

8695

8624

8553

R2

R1

PP

S1

8827

8641

8455

R1

PP

S1

8950

8650

8350

R1

PP

S1

9199
MONTHLY

R2
9550

S2
8411
S2
8083
S2
7750

BANK NIFTY
DAILY

R2
20180

WEEKLY

19728

R2

R1

21495
MONTHLY

19052

20211

R2

R1

22628

20494

MOVING AVERAGE

21 DAYS

NIFTY

19276

S2
18824

PP

S1

19569

19827

PP

S1

S2

18360

16226

19427

50 DAYS

100 DAYS

8669

8711

8552

BANK NIFTY

19456

19583

PARABOLIC SAR

DAILY

NIFTY

8715

8910

7493

BANK NIFTY

19090

20253

15079

WEEKLY

18926

MONTHLY

S2
17643

200 DAYS
8069
17324

PATTERN FORMATION ( NIFTY )

Detail of Chart On the above given daily Chart of Nifty has Applied Bollinger Band along with Parabolic
SAR both the indicators are Leading Indicators, and gives signal of Buying or Selling.
Although the Uses of Bollinger Band differ from traders to traders Some buy when it break the
Middle Band from below side and some buy when it break Upper Band. We assume that the
Breaking the Middle Band Usually a Bull side Signal as we can see that. Although On the
Above given Chart of Nifty both the Indicators are indicating Bull Movement for next week.
Now the market has Shifted in Bullish mode. and the Nifty Trend Now Seems toward the
Next level of 8780-8860 both the Indicators are Indicating break above 8640 would be the
Important level for the Nifty. The Crucial Levels of Index For Next Week is 8680-8750 is Up
side 8580-8460 is down side.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On

the Above given daily Chart of Bank Nifty has Applied the Bollinger Band

along with Parabolic SAR , The Bank Nifty Chart has also formed the Bullish Kicker Kind of
Pattern on the daily chart of Bank Nifty which clearly indicating the Bullish Movement for the
Index in Upcoming week. The Bank Nifty is has Touched the level of 19560 three time in last
week but was not able to Sustain. From here we are Expecting that if Bank Nifty is able to
break the level of 19620 could lead for the target of 19800-19880 in Near-Term. The Crucial
levels for Bank Nifty is 19700-19900 is Up side and 19520-19400 is down side.

NSE EQUITY DAILY LEVELS
COMPANY
NAME

R2

R1

PP

S1

S2

ACC

EQ

1543

1529

1519

1505

1495

ALBK
AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BANKINDIA
BHEL
BHARTIARTL
CIPLA
COALINDIA
DLF
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

77
246
1109
498
2893
158
116
140
324
590
334
153
3447
439
994
787
1408
1274
3406
151
850
285
248
1221
1012
78
832
1495
1326
49240
5949
298
134
48
530
1065
556
48
260
207
756
547
82
412
151

76
243
1093
492
2863
156
115
140
321
583
330
151
3413
437
981
778
1398
1266
3379
150
844
282
245
1211
1005
76
825
1486
1319
48501
5911
292
131
47
524
1060
550
47
259
205
749
542
80
408
150

75
242
1079
488
2813
155
114
139
320
579
322
150
3364
432
967
771
1380
1253
3348
149
839
279
242
1191
999
76
813
1475
1304
47452
5891
289
129
47
520
1052
542
47
256
201
745
533
79
403
146

74
239
1063
482
2783
153
113
138
317
572
318
148
3330
430
954
762
1370
1245
3321
148
833
276
239
1181
992
74
806
1466
1297
46713
5853
283
126
46
514
1047
536
46
255
199
738
528
77
399
145

73
238
1049
478
2733
152
112
137
316
568
310
147
3281
425
940
755
1352
1232
3290
147
828
273
236
1161
986
74
794
1455
1282
45664
5833
280
124
46
510
1039
528
46
252
195
734
519
76
394
141

TOP 15 ACHIEVERS
SR.NO

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

SCRIPT NAME

PREV
CLOSE

CMP

//
% CHANGE

+ 8.02 %

DR.REDDY’S

3113

3363

ADANI PORTS

285

307

KOTAK BANK

781

819

HDFC

1336

1391

MARUTI SUZUKI

5650

5876

COAL INDIA LTD.

313

324

BHARTI AIRTEL

309

318

ONGC

279

286

NTPC

149

152

BAJAJ-AUTO LTD.

2802

2848

ITC LIMITED

240

243

TECH MAHINDRA

434

435

BHARAT PETRO

668

669

BANK BARODA

156

156.50

ULTRATECH CEM

3980

3982

+ 7.44 %
+ 4.84 %
+ 4.13 %
+ 4.00 %
+ 3.67 %
+ 2.94 %
+ 2.54 %
+ 1.84 %
+1.63 %
+ 1.23 %
+ 0.36 %
+ 0.12 %
+0.10 %
+0.05 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

HCL TECH

831

763

- 8.25 %

2

AXIS BANK

526

486

- 7.45 %

3

WIPRO LTD.

499

462

- 7.43 %

4

ASIAN PAINTS

1153

1069

- 7.25 %

5

TATA POWER CO. 83

78

-6.34 %

6

TATA STEEL

427

405

-5.09 %

7

BHARTI INFRA

363

345

- 4.95 %

8

IDEA CELLULAR

80.00

76.20

-4.75 %

9

INFOSYS

1038

997

-3.93 %

10

YES BANK LTD.

1317

1272

-3.42 %

11

ACC

1566

1516

-3.16 %

12

AMBUJA CEMENT 247

241

-2.27 %

13

L&T

1510

1480

-2.00 %

14

INDUSIND BANK

1224

1199

-2.00 %

15

BHEL

141

138

-1.94 %

NSE FUTURE
NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )
NSE FUTURE

NSE FUTURE

:

SELL RELIANCE FUTURE BELOW 1060 TGT 1040 SL 1070

NSE FUTURE

:

SELL RELIANCE CAPITAL FUTURE BELOW 540 TGT 520 SL 550.

NSE FUTURE

:

BUY JAINIRRIGATION SYSTEMS FUTURE ABOVE 105 TGT 110 SL 103.

NSE CASH
NSE CASH

:

BUY ABFRL NSE CASH ABOVE 151 TGT 162 SL 147.

NSE CASH

:

BUY NOCIL NSE CASH ABOVE 79 TGT 86 SL 75.

NSE CASH

:

BUY ASHOKLEY NSE CASH ABOVE 87.50 TGT 94 SL 85.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
World will toe GST invoice matching, says Deloitte's David Raistrick nvoice- to-invoice
matching under the proposed goods and service tax in India will make it harder for the cash
economy and other parts of the world will soon like to emulate this feature, says David
Raistrick, Deloitte Global Leader for indirect tax. “India is the only country that is doing it .
This is unique...People will have to comply or they will fall out of the GST chain,” He said
invoice-to-invoice matching will make it harder for people to use cash and for people to be in
business and not pay tax. “Only those who play in the cash economy will feel the pressure as
they will lose credit,” he added. Raistrick, who supports indirect tax practices in Deloitte
member firms and has also worked at the UK tax authority HM Revenue and Customs, sees
introduction of this game-changing feature being done at the opportune time as the country is
going in for a new tax framework and believes other global tax administrations to follow suit.
“It is the right time to do as it’s a new tax. It’s going to happen everywhere. It should generate
more revenues for the government and improve compliance," he said.
Better tax payer services key to direct tax reforms: Arun Jaitley - The Union Finance
Minister Arun Jaitley said that better facilities and services to the taxpayers are central to
Direct Tax Reforms. He said that the tax payers have a right to know the deductions made
from their salary/income on a regular basis. He said that more and more tax payer services
have to be provided in order to make the people tax complaint. He stressed on the
Government’s commitment towards continuously upgrading tax payer services. The Finance
Minister Jaitley was speaking after launching the SMS Alert Service for direct taxes for about
2.5 crore private and Government salaried employees at a function in the national capital here
today. The new step is an effort by the Income Tax Department to directly communicate
deposit of tax deducted, through SMS alerts to salaried taxpayers, at the end of every quarter.
In case of a mismatch, they can contact their deductor for necessary correction.
Simultaneously, SMS alerts will also be sent to deductors who have either failed to deposit
taxes deducted or to e-file their TDS returns by the due date. This initiative will initially
benefit approximately 2.5 crore salaried cases. The CBDT will soon extend this facility to
another 4.4 crore non-salaried taxpayers. The frequency of SMS alerts will be increased, once
the process for filing TDS returns is streamlined to receive such information on a real-time
basis. All taxpayers who wish to receive such SMS alerts are advised to update their mobile
numbers in their e-filing account.The CBDT constantly endeavours to provide better taxpayer
services and reduce taxpayer grievances. New schemes and e-initiatives to redress and reduce

complaints of mismatches in tax deducted at source are key to this effort.
Rediscovering India-Brazil Investment and Trade ties to start a new phase - “Brazil’s
trade with India has immense scope for expansion which currently accounts for 1.21% of
India’s total trade. The total trade between India and Brazil is at US$ 6.69 billion in 2015-16.
The market opportunities exist in the areas of food and drinks coffee, tea, fruits, cocoa, and
confectionary products, home and building , machinery and equipment , mineral products and
chemicals. Brazil has recently launched a new infrastructure Program, ‘Crescer’ meaning
‘grow’ which will focus on concession, privatization and public-private partnerships, Brazil
and India should rather look for complementarities and synergies between their respective
markets and mind-sets in order to increase and upgrade their business potential. For more
business to take place there should be more people to people exchanges. I am a strong believer
of people-to-people relations to cement long-term and sustainable partnerships”, said Rosimar
da Silva Suzano, Consul General, Consulate General of Brazil in Mumbai at the International
Business Round Table organized by World Trade Centre Mumbai, All India Association of
Industries, .Under the ‘Make in India’ initiative, India is undergoing a series of reforms that
are in the process of enhancing the competitiveness of the country.
Indian companies not adhering to environment guidelines could be snubbed by global
investors

- In April 2016, pension funds managed by Norges Bank sold off its equity

investments in seven Indian companies worth roughly Rs 700 crore. The selloff in Coal India
CESC, Reliance Power, Gujarat Mineral Development Corporation, NTPC, Tata Power and
Reliance Infrastructure was part of the global strategy of Norges, the Norwegian financial
services behemoth, to get rid of portfolio constituents that dealt with coal. Due to its high
carbon intensity and consequent damage on the environment, coal is anathema to institutions
like Norges that believe in sustainable investments. The seven companies did not adhere to the
so-called environment, social and governance code of the $ 530 billion fund. Forty five other
global companies that mined or used coal to fire up their production facilities met the same
fate. Thomas Sevang, the official spokesman of Norges, says the bank addresses ESG issues at
meetings with company representatives, adding that it has expectation documents on children's
rights, water management, climate change and human rights. "We expect companies to address
these issues in their strategy and reporting."
✍ TOP ECONOMY NEWS

Regulator DGCA and aviation security agency BCAS are all set to get powers to impose
fines on violators, with the government preparing to amend the legislation in this regard.


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