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Equity Research Report 26 June 2017 Ways2Capital .pdf


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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Equity benchmark Index Nifty traded in a very narrow range last week by making
a high of 9654 and low of 9561, but Indian shares showed good strength. Among the sectors,
Financial Services and Auto were in top. Small Cap has given an upside movement of around 1% last
week and closed at 7444 after making a high of 7473. Last week has been a boring week for the
Market. The Indices have moved in a very tight range 94 points throughout week. The benchmark
Nifty on 19 June Monday trading session opened at 9626 and made a high of 9673, after making a
low of 9615. Nifty closed at 9657 levels, up by 69 points from its previous day close. Hotel stocks
during Monday’s trade were gaining ground as the GST Council on Sunday has fixed the tax rate for
hotel rooms costing between Rs 2,500 to Rs 7,500 at 18%. Logistics stocks on Tuesday’s trading
session jumped as the Finance Minister Arun Jaitley during a press conference said that the GST
switch-over will happen from June 30 midnight and roll-out on July-1. Globally, the rate hike by the
Fed has taken the rates to 1.25 %. What no one realizes is that higher the rates go in the US, lesser is
the cushion for a rate cut in India. Indian market may focus on RBI minutes, which termed as quite
hawkish and RBI/MPC may not be in a mood to cut in Aug’17. All the eyes may be now on NPA
resolution & IBC act. effectiveness apart from GST implementation & high probable short term
disruption. Also, SEBI war on P-Notes may be in focus. The Progress of Monsoon and Goods and
Services Tax will be closely watch for it’s impact on Market. Time and Price action Suggest that
Nifty need to Sustain over 9540 level for Further up move toward 9580-9640 level. On the Flat side
Sustaining below 9540 level may drag the index toward 9487-9400 Levels.
BANK NIFTY : - Bank Nifty last week made a high of 23630 and closed at 23503. Bank Nifty
touched its all time high of 23807 level. The index opened at 23571 and closed at 23742. Today, Bank
Nifty got good support from hopes of a quick NPA resolution by RBI IBC mechanism and a report
that Govt may request RBI to defer Basel-III norms for the Indian Banks by another year as it may
provide the Govt some relief for its obligation of huge recapitalization funds. But, RBI may not agree
with this idea as it may cause Indian Bank’s rating downgrade. Asset quality pain for banks is
expected to continue in fiscal year ended March 2018 due to restructuring by banks, weakness in
some large corporate accounts and events like waiver of farm loans, credit rating agency ICRA said.
As of now Bank Nifty need to Sustain above 23868-24096, On the Other side Sustaining below 23500
level may drag the index toward 23412-23338 level in near term.

Monday, 26 June 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9823

9679

9607

9535

9391

R2

R1

PP

S1

S2

10019

9753

9620

9487

9221

R2

R1

PP

S1

S2

10055

9763

9617

9471

9179

R2

R1

PP

S1

S2

24335

23885

23600

23435

22985

R2

R1

PP

S1

S2

24736

24010

23647

23284

22558

R2

R1

PP

S1

S2

25536

24192

23520

22848

21504

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9627

9452

9208

8815

BANK NIFTY

23497

22855

21822

20427

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9563

9555

8934

BANK NIFTY

23375

23097

20438

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily chart of Eqity index Nifty price seems to take a
pause inside the breakdown zone before a swinging move. A quick below low level can be seen
up to 9481 after breaking 9529 and being close below it. We pro move is opening on 9736 and
9792 in Nifty which level can be considered as the near important resistance. It is likely to little
profitable selling may remain in the surge of below the IC green cloud 9736 when all time high
level can be seen up to 9792 by crossing near resistance and giving close on itare looking sure
movement of 150 to 200 points around the crucial level by rancho analysis Nifty. Long Nifty
Above 9570 For Target 9629 And 9781

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - On the Above given daily chart of Bank Nifty has Applied the Bollinger Band
and Parabolic SAR both the indicators are indicating that the Bank Nifty to trade in positive
territory in upcoming week.Bank nifty recommendation will provide Positive move. Keep in mind
23160 and 22886 as the near support in Bank nifty. Bank Nifty to move toward new high of 2370023800 in near term we could witness some catious trade for next session.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1678
376

1673
373

1649
367

1644
364

1620
358

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

248
1175
514
2869
169
655
140
370
24929
382
547
249
2683
370
1213
866
1672
1717
3769
195
1120
298
314
1512
955
83
1015
1755
1441
72498
7397
165
161
22
673
1447
521
43
299
242
549
290
2440
290
42
521
156
1473
521
376

246
1168
511
2855
166
647
138
367
25529
378
544
247
2663
364
1196
859
1665
1705
3728
193
1108
294
313
1503
950
81
1003
1743
1415
71592
7336
162
159
21
658
1440
510
42
295
240
545
284
2409
284
41
516
152
1460
515
373

243
1157
507
2836
163
637
135
365
24097
375
541
245
2638
358
1167
850
1653
1690
3689
189
1092
289
310
1494
944
80
993
1731
1393
70594
7271
160
158
20
638
1435
498
40
291
235
541
280
2381
280
40
509
149
1446
510
367

241
1150
504
2822
160
629
133
362
23697
371
538
243
2618
352
1150
843
1646
1678
3648
187
1080
285
309
1485
939
78
981
1719
1367
69688
7210
157
156
19
623
1428
487
39
287
233
537
274
2350
274
39
504
145
1433
504
364

238
1139
500
2803
157
619
130
360
23265
368
535
241
2593
346
1121
834
1634
1663
3609
183
1064
280
306
1476
933
77
971
1707
1345
68690
7145
155
155
18
603
1423
475
37
283
228
523
270
2322
270
38
497
142
1419
499
358

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

77

81

+ 4.62 %

1

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

ICICI BANK

316

292

- 7.54 %

1

TATA POWER

2

RELIANCE

1388

1436

+ 3.45 %

2

GAIL LIMITED

378

353

- 6.46 %

3

SUN PHARMA

529

542

+ 2.52 %

3

BHARAT PETRO

673

631

- 6.34 %

4

AURO PHARMA

953

998

+ 2.33 %

4

LUPIN LIMITED

1131

1061

- 6.11 %

5

AMBUJA CEMENT

237

241

+ 1.79 %

5

ONGC

167

158

- 5.47 %

6

HCL TECH

839

851

+ 1.45 %

6

IOC

404

382

- 5.47 %

7

ITC LIMITED

306

3011

+ 1.39 %

7

BANK OF BARODA

167

161

- 3.79 %

8

TATA STEEL

501

508

+ 1.28 %

8

COALIN IND LTD

255

246

- 3.70 %

9

SBIN

285

288

+ 1.00 %

9

HINDALCO

195

188

- 3.28 %

10

ZEEL

508

512

+ 0.92 %

10

HERO MOTOCORP

3783

3666

- 3.10 %

11

ASIAN PAINTS

1145

1154

+ 0.75 %

11

ULTRAT EC CEM

4125

4011

- 2.77 %

12

CIPLA LIMITED

536

540

+ 0.67 %

12

TATA MOTORS

455

443

- 2.76 %

13

BHARTI AIRTEL

364

367

+ 0.67 %

13

TECH MAHINDRA

390

380

- 2.43 %

14

HDFC

1640

1650

+ 0.62 %

14

POWER GRD COR

209

206

- 1.83 %

15

ADANI PORTS

363

365

+ 0.51 %

15

DR. REDDY’S LABS

2682

2635

- 1.74 %

6
6
5
3
3
2
1

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Monsoon to be close to normal or above normal: IMD - Monsoon is expected to pick up pace
later this week and likely to intensify its advancement in central and north India, said a senior
IMD official, reported a national news agency. Till June 20, all India rainfall was 104%, said DS
Pai, Director-Long Range Forecast, IMD in an interaction with a media outlet. “Overall we are
close to normal or above normal monsoon,” said Pai. Monsoon is expected to advance to areas
like Bihar, Chhattisgarh, Jharkhand and eastern part of Uttar Pradesh and Madhya Pradesh in the
next 2-3 days. After June 26, it is expected that monsoon will progress faster in the northern part
of the country.
NCAER pegs FY'18 GDP growth at 7.6% on normal monsoon - Economic think-tank
NCAER has revised up its projection for the country's economic growth to 7.6 per cent for the
current fiscal, compared with the earlier prediction of 7.3 per cent on forecast of normal
monsoon. In its quarterly review of the economy, NCAER said prospects for the agricultural
sector in 2017-18 remain optimistic on forecast of good rains. Recent estimates show that
foodgrain production in 2016- 17 has touched a new record of 273.4 million tonnes or 8.7 per
cent higher as compared to last year. Also, the level of water storage in the country's main
reservoirs in 2017-18 is better compared to last year. In fact, better than the average storage over
the last ten years. "The forecast for growth of Gross Domestic Product at market prices in 201718 is 7.6 per cent at constant (2011 -12) prices," said the National Council of Applied Economic
Research. The agency has also revised upward its forecast of GVA growth at 7.3 per cent for
2017-18 from its February estimate of 7 per cent.
From 11% to 2.2%, five charts explain India's vanishing inflation - Four years ago Indian
inflation was running at more than 11 percent. Now it’s melted to a record low 2.2 percent, below
Mexico, Turkey and the U.K., as the central bank’s battle against price pressures gains traction.
The slide has prompted the Reserve Bank of India, led by Urjit Patel, to slashed its inflation
forecasts and led one members of its six-person monetary policy committee to break ranks at its
June 6 announcement, stoking market speculation the bank could next cut rates, perhaps as early
as August. So what’s changed? Economists say cyclical or temporary issues like a stronger
currency and weaker domestic demand, combined with structural factors such as better food
management by Prime Minister Narendra Modi’s government are in play. There are risks the
cyclical factors could easily unwind, but for now, economists increasingly see structural factors
winning out. Inflation is expected to hug the lower band of the RBI’s 2 percent to 3.5 percent
forecast for the first half of the financial year ending in March and remain below the 3.5 percent


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