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Equity Research Report 13 february 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian Equity Bench mark Index Nifty gave breakout of 8672 previous week high and closed
at 8741 after making a weekly high of 8758. The Equity benchmark Nifty has opened in a Positive note on Monday
trading session Up by 45 points or 0.51 per cent at 8785 levels. Benchmark index Nifty was positive throughout the
week on the backdrop of positive Budget Policy Announcements and follow up buying were seen even after the
budget. Nifty traded in a narrow range of 40 points in its last trading session. The benchmark index Nifty closed
near 4 months high of 8807 after making high of 8814. The benchmark Index Nifty closed in negative territory after
four days of continuous positive close on profit booking. The Nifty closed at 8769 on Wednesday trading session
after making low of 8715. Before announcement of RBI Monetary Policy, Nifty made a high of 8791. RBI
Governor Urjit Patel surprised the market by keeping repo rate unchanged at 6.25%. Moreover he changed his
stance to neutral from accomoditive, on worries of effect of demonetization on inflation. Just after the RBI policy,
we witnessed a choppy trading sessions. The index Nifty spot traded in a 100 points range during the day but closed
in the positive terrain on Thursday trading session. Benchmark Nifty continues to trade in a 100 points range for
last four sessions. Therefore we need to watch out 8710 – 8820 levels closely. The Essential Resistance Levels for
Nifty is 8850-8880 and Support is 8760-8720 level..

BANK NIFTY : - The Bank Nifty made a high of 20229 and closed at 20196 level on Friday trading session.
Bank Nifty outperformed the Nifty and rallied 2.36% to make a weekly high of 20230, the Index gave breakout of
19795 previous weeks’ high and closed at 20197. The Bank Nifty remained strong through out the day on
expectation of rate cut in the RBI Monetary Policy meeting. But Reserve Bank of India surprised the market by
keeping repo rate unchanged at 6.25%. Bank Nifty index remained highly impulsive throughout the day since the
index oscillated in a wide range of 400 points. The index met the 20000 support and then ended well above the
20150 level but with a loss of 100 odd points. The market breadth too remained a bit confusing as at the end of the
day it was completely neutral. The next level is 20350 above which the next target would be 20525. The immediate
support for the index is at 20010 and important resistance is at 20576.

Monday, 13 Febuary 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

8944

8846

8797

8748

8650

R2

R1

PP

S1

S2

9096

8884

8778

8672

8460

R2

R1

PP

S1

S2

9572

9004

8720

8436

7868

R2

R1

PP

S1

S2

20651

20379

20243

20107

19835

R2

R1

PP

S1

S2

21612

20696

20238

19780

18864

R2

R1

PP

S1

S2

23033

21053

20063

19073

17093

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

8581

8438

8395

8318

BANK NIFTY

19566

19120

18920

18523

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

8591

8050

8084

BANK NIFTY

19567

17876

16970

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of have Applied Bollinger Band and Parabolic
SARNifty 50 continues to trade in a 100 points range for last four sessions. Therefore we need to
watch out 8710 – 8820 levels closely. As discussed earlier, Nifty has been forming a rising wedge
pattern on an intraday chart. Therefore, support level of 8700 would act as a key support for the
market. On the flipside, only a decisive move above 8820 would lead to fresh upside momentum,
which can assist Nifty to head towards 8900 / 8970 levels

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band
along with MACD. Once again Nifty Bank index respected 20000 marks and witnessed smart pullback.
As discussed earlier, 20500 – 20580 remain key hurdle and only a decisive move above 20580 would
lead to fresh move to an all-time high level of 20910 levels. On the flipside, 20070 - 19800 act as
support for upcoming sessions.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1507
318

1495
314

1485
310

1475
306

1463
302

AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BPCL
BHEL
BHARTIARTL
BOSCH LTD
BHARTI INFRATEL
CIPLA
COALINDIA
CAIRN INDIA LTD
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
IDEA CELLULAR
KOTAKBANK
LT
M&M
MRF
MARUTI SUZUKI
ONGC
NTPC
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATA MOTORSDVR
TCS
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK
YES BANK LIMITED
ZEEL

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
EQ
EQ
EQ
EQ
EQ

243
1016
495
2835
196
742
161
362
23481
327
601
327
281
3056
498
1036
838
1421
1312
3308
187
863
288
280
1335
990
112
793
1516
1319
52062
6204
196
173
36
502
1040
550
47
285
255
667
325
2485
517
84
477
158
1424
530

240
1005
492
2819
194
731
159
360
23109
321
590
326
277
3019
491
1023
832
1403
1307
3290
185
857
286
278
1328
979
111
786
1509
1299
51766
6158
194
171
35
497
1034
547
46
280
251
661
322
2434
513
83
472
153
1418
523517

238
998
490
2796
192
722
158
358
22743
317
583
323
272
2997
486
1011
826
1393
1302
3265
182
852
284
276
1319
961
110
778
1500
1287
51584
6127
192
170
34
492
1030
542
45
278
248
655
318
2372
509
82
466
151
1410
510

235
987
488
2780
190
711
156
356
22371
311
572
322
268
2960
479
998
820
1375
1297
3247
180
846
282
274
1312
950
109
771
1493
1267
51288
6081
190
168
32
487
1024
539
44
273
244
649
315
2321
505
81
461
146
1404
504

233
980
486
2757
188
702
155
354
22005
307
565
319
263
2938
474
986
814
1365
1292
3222
177
841
280
270
1303
932
108
763
1484
1255
51106
6050
188
167
31
482
1020
534
43
271
241
643
311
2259
501
80
455
144
1396
302

TOP 15 ACHIEVERS

//

SR.NO

SCRIPT NAME

PREV
CLOSE

CMP

1

BHEL

142

158

2

GRASIM INDUS

944

3

BHARTI INFRA

4

% CHANGE

TOP 15 LOOSERS
SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

+ 11.28 %

1

HINDALCO

191

182

- 4.98 %

1013

+ 7.28 %

2

DR. REDDY’S LABS

3144

3014

- 4.14 %

299

320

+ 6.89 %

3

CIPLA

607

583

- 3.97 %

TCS

2232

2340

+ 4.85 %

4

ONGC

200

195

- 2.91 %

5

ACC

1423

1484

+ 4.28 %

5

TATAMOTOR LTD.

522

508

- 2.69 %

6

AMBUJA CEMENT

229

239

+ 4.25 %

6

TATA STEEL

472

463

- 1.90 %

7

TECH MAHINDRA

480

497

+ 3.64 %

7

HCL TECH

830

817

- 1.66 %

8

ZEEL

495

513

+ 3.46 %

8

NTPC

171

169

- 1.37 %

9

BHARAT PETRO

698

718

+ 2.81 %

9

COAL INDIA LTD.

326

321

- 1.32 %

10

ADANI PORTS

303

311

+ 2.64 %

10

LUPIN LIMITED

1492

1475

- 1.08 %

11

M&M

1260

1288

+ 2.19 %

11

BAJAJ AUTO LTD.

2808

2778

- 1.07 %

12

KOTAK BANK

765

779

+ 1.86 %

12

AXIS BANK LTD.

490

488

- 0.49 %

13

WIPRO LTD.

457

466

+ 1.85 %

13

BANK OF BARODA

186

185

- 0.48 %

14

GAIL LIMITED

478

487

+ 1.77 %

14

HDFC BANK

1311

1307

- 0.31 %

15

INDUSIND BANK

1303

1324

+ 1.62 %

15

RELIANCE

1033

1032

- 0.14 %

4
2
1
1
1
0
0

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )
NSE FUTURE
NSE FUTURE :BUY MCLEODRUSS FUTURE ABOVE 175 TGT 185 SL 171.
NSE FUTURE :SELL LUPIN FUTURE BELOW 1470 TGT 1420 SL 1500.
NSE FUTURE :BUY BOB FUTURE ABOVE 192 TGT 198 SL 189

NSE CASH
NSE CASH : BUY ORIENTREF NSE CASH ABOVE 136 TGT 146 SL 132.
NSE CASH : BUY CUB NSE CASH ABOVE 160 TGT 171 TGT 154.
NSE CASH : BUY VAIBHAVGLB NSE CASH ABOVE 488 TGT 523, SL 473.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK

Budget 2017: Why 25% hike in capital spend is actually only 11% - During his
Budget speech on Wednesday finance minister Arun Jaitley said he had stepped up, capital
expenditure broadly spending on creating assets by 25.4% in 2017-18 over the previous year. He went
on to add that "this will have multiplier effects and lead to higher growth". But a closer look at the
Budget documents suggests that the impressive jump may be largely a case of smokes and mirrors.
Here's what the numbers show. The 25.4% rise is actually over the Budget estimates for 2016-17,
while the increase over this year's revised estimates is a much more modest 10.7%. Even more
significantly, a considerable chunk of it may be just a reclassification of some spending from revenue
expenditure seen broadly as non-asset creating to capital expenditure. That is why an apples to apples
comparison in this case must be between the RE for the current year and the budgeted amount for
next year.

India's GDP growth likely at 7.1% in 2017-18: HSBC - India is expected to clock a GDP
growth of 7.1 per cent in 2017-18 as the country gets sufficiently remonetised and the schemes in the
Budget play a supportive role, says an HSBC report. The uptick in the growth numbers would be
largely driven by the remonetisation process which is expected by April end as this in turn would
boost the consumption levels in the country. We expect GDP to grow at 7.1 per cent year-on-year in
2017-18, up from 6.3 per cent in 2016-17, as the country gets sufficiently remonetised, and
consumption moves back to pre-demonetisation levels," HSBC India Chief Economist Pranjul
Bhandari said. Growth numbers will be largely consumption driven as investment is expected to be a
drag. "We believe that investment, which tends to be sensitive to policy uncertainty, will continue to
remain weak, keeping growth at an arm's length from the cherished 7.5-8 per cent levels," Bhandari
said.

Rs. 6.78 lakh crore remonetised, Rs. 9.1 lakh crore in circulation : Government - In the
ongoing process of remonetisation, bank notes worth Rs. 6.78 lakh crore returned to the formal
banking system between November 10 and January 13, taking the total currency in circulation to Rs.
9.1 lakh crore, the government said today. Remonetisation is taking place ceaselessly at a fast pace.
Between November 10, 2016 and January 13, 2017, the notes in circulation have increased by Rs.
6.78 lakh crore, thereby taking the total notes in circulation to Rs. 9.1 lakh crore," Minister of State
for Finance Arjun Ram Meghwal said in a written reply in Rajya Sabha.

Cash crunch triggers a struggle for firms for the third month running - Services
activity contracted for the third successive month in January as firms struggled with less cash in
circulation but the pace of contraction slowed, a private survey showed on Friday. The Nikkei India


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