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Equity Research Report 20 March 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian Bench mark Index Nifty 50 closed at 8935 after making a high of 8978
and a low of 8892 on last week, and opened on a positive note on Monday trading session at 9091
up by 157 points or 1.72 per cent. The Nifty 50 opened above its all time high of 9119 gave a big
salute to Narendra Modi led BJP government win in India biggest state UP. The BJP government got
325 seats out of 403 seats in the state. The market opened with euphoric buying sentiment and fresh
buying trapped. The BJP’s clear sweep in UP was a big positive surprise for the market Nifty was
trading all time high up by 150 points. Apart from Indian politics, market also get impacted on the
revival WPI & CPI data along with hosts of global Geo-political & central banks events. Now all
major events like UP Polls and US Fed Interest Rate hike have been finished which will remove
Uncertainty from the markets and Indian Stock Market would head towards new highs. Nifty would
move positive and traders should hold long positions or go long at every dip in the market. 9011
would be crucial level Down side for Nifty Market would remain buy on dips until 9011 levels.
Time and Price action suggests that, Nifty has to sustain over 9145 area for further rally towards
9207-9238 in the short term. The Crucial levels for Nifty 9120-8980 is Down side and 9220-9248 is
Up side..
BANK NIFTY : - The Banking stocks Index Bank Nifty closed at 20727 on Friday after making a
high of 20877, the index made a low of 20648. Index also opened gap up at 21190 and made an all
time high of 21274 & closed at 21103, which is 375 points high from its previous day’s close of
20728. ICICI Bank rose by 6.17% which was the top mover in the Banking Index. The other banks
like HDFC Bank was up by 0.76% , SBIN by 0.96%, Kotak Bank by 0.87% and Yes Bank by
3.40%. The Bad loans of public sector banks rose by over Rs. 1 lakh crore during April-December
period of 2016-17. Bank Nifty would move towards the level of 21500-22000 soon, Bank Nifty has
to sustain over 21400 area for further rally towards 21500-21675 & 21855-21950 in the near term.
On the other side, sustaining below 21350 area, Bank Nifty may fall towards 21200-21100 &
21000-20900 in the near term.

Monday, 20 March 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9282

9204

9165

9126

9048

R2

R1

PP

S1

S2

9512

9260

9134

9008

8756

R2

R1

PP

S1

S2

10049

9395

9068

8741

8087

R2

R1

PP

S1

S2

21700

21364

21196

21028

20692

R2

R1

PP

S1

S2

21873

21405

21171

20937

20469

R2

R1

PP

S1

S2

23590

21838

20962

20086

18334

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

NIFTY

8919

8735

8589

8441

BANK NIFTY

20648

20075

19568

18963

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

8955

8522

8209

BANK NIFTY

20498

19101

17458

200 DAYS

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of Nifty has Applied Bollinger Band as well as
Parabolic SAR both the indicators are indicating bullish rally in the Market. Time & Price action
suggests that, Nifty has to sustain over 9180 area for further rally towards 9240-99280 for the
upcoming week. Technically , Bollinger Band Suggest that the Market will move toward new high.
Upper Band of Bollinger Band becoming on 9190 to 9200 in Nifty which both surface can be
considered as the Near Resistance. If break this level lift the higher Nifty in Near term. 9180-9220
would be Significance Resistance levels for Index and 8980-8946 is Significance Support.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - On the Above given daily Chart of Bank Nifty has Applied the Bollinger Band
as well as Parabolic SAR. The Bank Nifty Chart is clearly showing up side movement the Upper
Band of Bollinger Band indicating Bullish wave in the Market. If the Bank Nifty able to Sustain
the 21200 level will move toward 21600-21800 levels. The support for Bank Nifty is at
21120-21000-20950-20850 and the resistance to the up move is at 21250-21380-21500-21720
levels.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1437
331

1423
327

1413
324

1399
320

1389
317

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

238
1099
521
2975
172
654
173
367
23159
312
607
295
301
2766
382
1065
881
1468
1436
3384
202
915
288
293
1409
1056
116
860
1584
1341
57421
6264
193
162
39
621
1327
604
49
281
271
722
298
2566
490
89
512
159
1554
532

235
1089
517
2944
170
647
171
362
22960
310
601
292
297
2750
380
1052
873
1459
1431
3366
200
909
284
286
1396
1048
111
854
1568
1321
56410
6226
191
160
38
611
1314
592
48
277
267
714
292
2549
483
87
506
156
1531
525

233
1082
514
2917
168
642
170
357
22800
308
597
291
294
2737
378
1041
863
1448
1421
3355
196
904
282
281
1382
1033
109
848
1556
1311
55688
6188
190
159
37
603
1306
585
47
275
264
708
288
2529
477
86
502
154
1517
520

230
1072
510
2886
165
635
168
352
22601
306
591
288
290
2721
374
1028
855
1439
1416
3337
194
898
278
274
1369
1025
104
842
1540
1291
54677
6150
188
157
36
593
1293
573
46
271
260
700
282
2512
470
84
496
151
1494
513

228
1066
507
2859
162
630
165
346
22441
304
587
287
287
2708
372
1017
845
1428
1406
3326
190
893
276
269
1355
1010
102
836
1528
1281
53955
6112
187
156
35
585
1285
566
45
269
257
694
278
2492
464
83
492
149
1480
508

TOP 15 ACHIEVERS
SR.NO

PREV
CLOSE

SCRIPT NAME

CMP

//
% CHANGE

TOP 15 LOOSERS
SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

ADANI PORTS

298

325

+ 8.90 %

1

BEL

1567

161

- 89.69 %

2

TATA STEEL

467

502

+ 7.37 %

2

RPPINFRA

297

265

- 10.71 %

3

ITC LIMITED

263

281

+ 6.76 %

3

TPLPLASTEH

521

472

- 9.43 %

4

BHEL

158

168

+ 6.67 %

4

STINDIA

17.30

15.80

- 8.67 %

5

HDFC

1373

1451

+ 5.63 %

5

COAL INDLTD

316

289

- 8.55 %

6

TATA POWER

81

86

+ 5.37 %

6

JAYPEE INFR

11.60

10.70

- 7.76 %

7

AUROBIND PHARMA 652

687

+ 5.37 %

7

JAIP ASS

14.95

13.90

- 7.02 %

8

ULTRATEC CEMENT 3852

4039

+ 4.86 %

8

TTML

9.00

8.45

- 6.11 %

9

ASIAN PAINTS

1030

1079

+4.78 %

9

SHEMAROO ENT 413

389

- 5.91 %

10

HINDALCO INDUS

187

196

+ 4.58 %

10

CRISIL

1975

1877

- 4.97 %

11

GRASIM INDUS

999

1041

+ 4.24 %

11

BHARTI AIRTEL

364

346

- 4.95 %

12

L&T

1491

1552

+ 4.09 %

12

REPRO INDIA LTD. 397

381

- 3.94 %

13

MARUTI SUZUKI

5955

6192

+ 3.98 %

13

ONGC

192

190

- 0.90 %

14

BANK OF BARODA

159

164

+ 3.71 %

14

GAIL IND LTD

378

375

- 0.82 %

15

ICICI BANK

270

280

+ 3.71 %

15

TCS

2542

2525

- 0.65 %

1
8
7
6
4
3
0

OPEN INTREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Arun Jaitley meets FinMin's consultative committee, discusses banks' bad loans - The
government is taking sector-specific measures to deal with bad loans, especially the resolution
of large debts, and may include setting up of more oversight committees, as initiated by the
Reserve Bank of India, for faster settlement of such cases. RBI has made an oversight
committee to look into process of cases referred to it by different banks. Seeing the response
and its performance, the government is considering multiplication of such committees," finance
minister Arun Jaitley told the first meeting of his ministry's consultative committee on
Wednesday, which discussed non-performing assets. According to a finance ministry noted
statement, Jaitley said the core problem of non-performing assets was with very large
companies - although few - mainly in steel, power, textile and core sectors.
Corporate debt pie grows by 15 per cent as on December 31 - India’s corporate debt market
has grown significantly in the past few years. Total outstanding debt posted a trend growth of 15
per cent to Rs. 106.88 lakh crore as on December 31, 2016, from Rs. 45.31 lakh crore as on
March 31, 2011. But most of the issuers are top-rated firms. With limited investor interest,
lower rated issuers continue to rely on the banking sector to meet their funding requirements.
Such issuers are in the infrastructure and other capital-intensive sectors.
Exports jump 17% to $ 24.5 billion in February; trade deficit widens - India’s merchandise
exports registered double-digit growth in February for the first time since the Narendra Modi
government took office, on the back of a 47% rise in engineering goods and improved
international demand. Some analysts say it could be the highest growth witnessed in about five
years. Exports swelled by 17.48% in February to $24.5 billion but a steeper increase in imports
at 21% widened the trade deficit to $ 8.8 billion — from $ 6.5 billion in the year-ago period.
This is the sixth consecutive month of an increase in exports this year but double digits were last
seen in June 2014. “In continuation with the revival since September 2016, exports during
February for the first time exhibited a double-digit positive growth... Overall, trade balance has
improved,” noted a commerce and industry ministry statement. The month saw 23 of 30
exporting sectors, led by iron ore, registering more exports.
Governement launches Rs. 600 crore scheme for developing export infrastructure - The
government today launched a Rs. 600-crore scheme - TIES - for developing export linked
infrastructure in states with a view to promoting outbound shipments. Launched by Commerce


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