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Equity Research Report 14 November 2016 Ways2Capital .pdf



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

Equity benchmark Nifty 50 open in a Positive note on Monday up by

100 points or 1.17 per cent at 8533. Last week Indian benchmark Index Nifty fell 2.10
Percent. The Index opened at 8639 and closed at 8458 after making a low of 8425.
Selling pressure was due to uncertainty over the potential outcome of U.S. Presidential
election which kept investors nervous going into the weekend. Moreover the new GST
structure was not able to create any positive impact on the markets. The movement in this
week was greatly affected by the US Presidential Election. Indian benchmark Index
witnessed a roller coaster ride on Wednesday, as Nifty opened gap down on twin news of
Trump victory and Indian government's decision to ban Rs.500 and Rs.1000 notes. Sharp
buying was witnessed after a gap down opening. Market made a low of 8076 before
recovering sharply. Nifty made fresh intra day highs boosted by the broader markets and
banking stocks, discounting all negativities of a Trump victory and the Indian currency
apprehensions. FII data which came in after markets hours saw a selling of Rs.2100 cr
even though they were buyers in F&O segment. The markets are showing strength at
lower levels but will have to sustain this week above 8550 for the next target of 8800 to
be achieved. The main concern may be EM meltdown in currencies and continuous
devaluation of China Yuan for the Market for next week. The Nifty is expected to trade in
the range of 8485-8645 levels. The Significance levels for Nifty is 8444-8578 Upside and
8360-8320 is down side.
BANK NIFTY : -

The Bank Nifty open in a positive note on Monday up by 259 points or

1.34 per cent at 19317. The Banking Sector stocks trade in a positive notes in this week.
Demonetisation of Rs. 500 and Rs. 1000 notes boosted banking stocks since lenders
expect huge cash deposits from people affected by the Modi government's surprise move.
Bank stocks may be in focus for next week trading sessions after good run as RBI
announced some SA4 restructuring measures, which may be positive for banks, but may
also be largely discounted considering the time & price action. Bank Nifty may open
around 20120 area for next week, has to sustain above 20060 zone. otherwise it may
further fall towards 19850-19400 zone for the next week. For any strength after huge gap
down opening, Bank Nifty has to sustain above 20160 area for 20280-20350 zone in the
event of a clear US election results. The Bank Nifty is Expected to trade in the range of
19720-20891. The Significance levels for Bank Nifty is 20160-20451 is Upside and
19720-19571 is Down side.

Monday, 14 November 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

R2

R1

8813

8515

R2
9496

MONTHLY

R2
10323

PP

S1

S2

8366

8217

R1

PP

S1

S2

8619

8312

7720

6536

R1

PP

S1

S2

8997

8334

7671

R1

PP

S1

20508

19927

19346

R1

PP

S1

21522

19424

17326

R1

PP

S1

S2

21522

19424

17326

13130

100 DAYS

200 DAYS

7919

6345

BANK NIFTY
DAILY

R2
21670

WEEKLY

R2
25718

MONTHLY

R2
25748

MOVING AVERAGE

21 DAYS

50 DAYS

NIFTY

8579

8614

8517

BANK NIFTY

19510

19417

18944

PARABOLIC SAR

DAILY

WEEKLY

NIFTY

8002

8847

BANK NIFTY

18143

18824

MONTHLY
767
15629

S2
18184

S2
13130

8327
18267

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 on the above given chart it has touch the middle Band. But it was not able to
break the Significance Resistance level of 8650. and give Gap Down opening below its
Lower Band. From this ;level we may see some correction in Nifty for the Upcoming
week. Nifty may reverse to fill the up side Gap of 8500-8680. The Significance Levels for
Nifty is 8530-8580 is up side and 8400-8360 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. Both are the leading Indicators and give
Signal on Breakout of Upper or Lower Band. On the Above given chart of Bank Nifty it
has touch the Upper band but not able to break the Resistance level of 19980. From this
level we are Expecting the Bank Nifty may go Up side further to the level of 20260 for
Next week. The Significance levels for Bank Nifty is 19920-20542 Up side and 1930018900 is Down Side.

NSE EQUITY DAILY LEVELS
COMPANY
NAME

R2

R1

PP

S1

S2

ACC

EQ

1468

1432

1411

1375

1354

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

301
233
1020
521
2819
173
674
144
311
21432
388
571
338
263
3337
460
935
809
1326
1292
3191
175
824
302
251
1245
955
74
834
1417
1350
53999
5360
280
156
44
502
1025
508
44
295
236
721
344
EQ

289
226
989
509
2736
166
661
140
301
20767
375
559
333
260
3303
451
916
788
1310
1285
3086
173
815
290
246
1220
938
73
825
1402
1296
53295
5240
277
154
43
484
1012
500
43
284
232
705

280
222
974
501
2684
163
648
138
298
20335
369
552
329
257
3265
440
903
771
1301
1275
3025
171
807
282
244
1204
928
72
816
1394
1264
52652
5171
275
152
42
475
1003
492
42
277
228
693
332
2149

268
215
943
489
2601
156
635
134
295
19670
356
540
326
253
3231
431
884
750
1298
1268
2920
169
798
270
239
1179
911
71
807
1379
1210
51948
5051
272
150
41
457
990
484
41
266
224
677
325
2118

259
211
928
481
2549
153
622
132
293
19238
350
533
322
246
3193
420
871
733
1286
1258
2859
167
790
262
237
1163
901
70
798
1371
1178
51305
4982
270
148
40
448
981
476
40
295
220
665
320
2088

2179

TOP 15 ACHIEVERS
SR.NO

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

PREV
CLOSE

SCRIPT NAME

CMP

SWAN ENERGY

126

134

INDIABULLS REA

67

71

SUN PHARMA

666

688

SIEMENS LTD.

1091

1116

JUST DIAL

396

404

LT FOODS LTD.

256

261

POLARIS CONSUL

161

163

UNITED BANK

22.45

22.70

GUJRAT INDUS

104

105.50

PERSISTENT SYST

633

640

ABB INDIA

1062

1070

UCO BANK

36

37

CYIENT LTD.

456

458

PFIZER LTD.

1799

1805

VEDANTA

229.30

229.80

//
% CHANGE

+5.99 %
+5.89 %
+3.27 %
+2.43 %
+2.07 %
+1.97 %
+1.24 %
+1.11 %
+1.00 %
+0.98 %
+0.82 %
+0.54 %
+0.34 %
+0.34 %
+0.22 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

MARUTI SUZUKI

5704

5134

-10.00 %

2

TCS

2330

2101

-9.87 %

3

M&M

1372

1240

-9.63 %

4

HERO MOTOCORP 3287

2975

-9.51 %

5

AMBUJA CEM

240

219

-8.84 %

6

HDFC

1386

1268

-8.50 %

7

ASIAN PAINTS

1043

962

-7.74 %

8

ACC

1490

1400

-6.01 %

9

BAJAJ AUTO LTD. 2814

2647

-5.92 %

10

ULTRATECH CEM 3854

3634

-5.72 %

11

HUL

848

801

-5.45 %

12

INFOSYS

971

921

-5.09 %

13

ZEEL

506

482

-4.74 %

14

HCL TECH

794

764

-3.86 %

15

ADANI PORTS

287

276

-3.81 %

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )
NSE FUTURE
NSE FUTURE : SELL MARUTI FUTURE BELOW 5100 TGT 5000 SL 5150
NSE FUTURE : SELL CEATLTD FUTURE BELOW 1290 TGT 1240 SL 1310
NSE FUTURE : BUY HINDALCO FUTURE ABOVE 179 TGT 185 SL 176
NSE CASH
NSE CASH : BUY AXISBANK NSE CASH ABOVE 483 TGT 515 SL 468.
NSE CASH : BUY HINDUNILVR NSE CASH ABOVE 870 TGT 930 SL 845.
NSE CASH : BUY ONGC NSE CASH ABOVE 272 TGT 292 SL 264.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Fund raising via debt surges 60% to Rs. 70,395 crore in October - India Inc raised a
staggering Rs. 70,395 crore in October through private placement of corporate debt
bonds, a surge of 60 per cent from the year-ago period. In debt private placement, firms
issue debt securities or bonds to institutional investors to raise capital. According to the
data available with Securities and Exchange Board of India , companies garnered a total
of Rs. 70,395 crore from debt on a private placement basis last month, much higher than
Rs. 43,931 crore raised in October 2015. In terms of numbers, 275 issues have been made
last month 2016 as compared to 214 in the year-ago period. The funds have been raised
for business expansion plans, to support working capital requirements and for repayment
of debt. With the latest mobilisation, the total fund raising through private placement of
debt securities reached Rs. 3.81 lakh crore in the current financial year.
India Nikkei Manufacturing PMI at 22-month high in October - Supported by
stronger contributions from three of its five sub-components – new orders, output and
stocks of purchases – the Nikkei India Manufacturing Purchasing Managers’ Index
climbed to a 22-month peak in October, rising from 52.1 in September to 54.4, the latest
reading was indicative of a robust improvement in manufacturing business conditions that
was in line with the long-run series average. Once again, consumer goods producers
outperformed their intermediate and investment goods counterparts, registering stronger
rates of expansion for both output and new orders. In October, output increased for the
tenth straight month and at the quickest rate in nearly four years. Survey respondents
attributed the latest rise in production to strong growth of new orders. The amount of new
work received by manufacturers grew markedly during October, with anecdotal evidence
linking the latest rise to improved underlying demand. In fact, the rate of expansion was
at a 22-month high. Data indicated that although foreign orders contributed to the upturn
in total new work, the rate of growth in new business from abroad eased to a three-month
low. Outstanding business rose again during the latest survey period. The overall rate of
accumulation was solid and the quickest in almost three years, with survey members
reporting capacity pressures. In spite of this, businesses left employment unchanged.
S&P affirms 'BBB-/A-3' rating on India with stable outlook - The global ratings
agency Standard & Poor's affirmed its BBB- /A-3 ratings on India, citing the ongoing

policymaking continues to strengthen growth prospects and fiscal performance, as per
media report. The agency said stable outlook balances India’s sound external position and
inclusive policy making against low per capita income and weak public finances. The
government has been hoping for a rating upgrade following its reform measures such as
passage of the Insolvency Code and Constitution Amendment Bill for GST by
Parliament. "The outlook indicates that we do not expect to change our rating on India
this year or next, based on our current set of forecasts," S&P said. "The ratings on India
reflect the country's sound external profile and improved monetary credibility. India's
strong democratic institutions and a free press, which promote policy stability and
predictability, also underpin the ratings," added further.
India's gross-value added growth to hit 7.6 per cent this year: DBS - India's grossvalue added growth is expected to quicken to 7.6 per cent this year from 7.2 per cent in
2015-16, driven by sustained support from public capex spending, says a DBS report.
According to the global financial services major, while private sector activity remains
subdued, high frequency fiscal numbers point to sustained support from public capex
spending. "We expect gross-value added growth to quicken to 7.6 per cent year-on-year
this year from 7.2 per cent in FY15/16," DBS said in a research note.
According to DBS, after an upside surprise from China, India manufacturing PMIs also
jumped in October, affirming signs of a cyclical upturn in the region. India's October
Nikkei manufacturing PMI ticked up to nearly two-year high of 54.4 from September's
52.1. "The improving order pipeline is encouraging and points to better industrial and
business outlook. Also being a de facto business confidence/sentiment gauge, these PMIs
partly reflect broad optimism on the back of strong asset market performance and stable
rupee," the report said.
Private equity investment in RE rises 22 per cent y-o-y in Jan-Sept 2016: Report Private equity investment in the real estate sector has grown 22 per cent during JanuarySeptember this year to Rs 28,300 crore, from Rs 23,200 crore a year ago, reflecting
improved confidence among investors to make larger investments, says a Cushman &
Wakefield report. According to the report, private equity inflow increased to Rs 28,300
crore during the period, out of which nearly Rs 9,200 crore were recorded during the third
quarter July-Sep of 2016.
While the number of deals closed during the third quarter moderately declined by 3 per
cent quarter-on-quarter (q-o-q) to 32 per cent, the total investments increased by 1.2 per
cent, reflecting increased confidence amongst investors to make larger investments. The
average deal size, therefore, increased from Rs 275 crore in Q2 2016 to Rs 287 crore in


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