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Equity Research Report 03 July 2017 Ways2Capital .pdf



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Title: Equity Research Report

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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Last week Nifty showed profit booking as FII created sell position in the F&O.
The Nifty Index made a high of 9699 and closed at 9575 after making a low of 9565. On Tuesday
27th June,the Nifty fell 142 points from day’s high. it opened at 9594, made a high of 9615 and closed
at 9511 after making a low of 9473. Ahead of GST implementation, investors remained cautious and
booked profits in Cash market. On Wednesday 28th June,the Benchmark Index Nifty opened at 9520
and closed at 9491 after making a low of 9474. The Index closed down by 20 points from its previous
day close. On Thrusday trading session, Index Nifty opened at 9523 and closed at 9504 after making a
high of 9576.The Index closed up by 13 points from its previous day close. NSE has recorded highest
ever turnover in F&O segment on Thursday. The total turnover in F&O segment in yesterday’s trade
stood at around Rs 14.1 lakh crore. The concern of GST disruptions & Normal monsoon in June so
far may affect the domestic market sentiment. We expect market may continue to be under stress on
earnings concern for Q1-Q2FY18 due to GST disruptions and NPA blues despite great thrust on
deleveraging for stressed corporate India. Almost all the major sectors from steel, power to telecom
are in stress. Time & price action Suggest Nifty need to Sustain over 9520 level for further up move
toward 9642-9678 & Sustaining below 9500 level may drag the Index towards 9420-9297 in near
term.
BANK NIFTY : - Bank Nifty also made a high of 23898 and closed at 23543 after making a low of
23508 in last week. The Banking shares gave correction last week, as the Reserve Bank of India asked
banks to make higher provisioning on 12 large loan accounts. Bank Nifty fell allmost 730 points in
two trading sessions and closed at 23216 after making a low of 23056 on Monday trading session.
Bank Nifty opened at 23210 and closed at 23236 after making a low of 23114 on Wednesday trading
session.The Index closed up by 20 points from its previous day close. An unexpected RBI directive on
weekend to Banks for requirement of higher provisions for the IBC NPA cases and ongoing farm loan
waiver; this time from MH for Rs.34000 cr. Indian banks may be required to provide higher
provisions for NPA cases under IBC and may also be required for around 60% of hair cuts to settle
the large NPA (unviable projects); normally Banks in India can settle 40-50% or even 25% of the
write off NPA, depending on various factors. Banks in India may have to also provide more
provisions (+30%) for NPA as par changing accounting rules from next year. The Significance levels
for Bank Nifty for next week trading sessions is 23130-22978 is down side and 23350-23700 is Up
side

Monday, 3 July 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9675

9549

9486

9423

9297

R2

R1

PP

S1

S2

10039

9707

9541

9375

9043

R2

R1

PP

S1

S2

10341

9825

9567

9309

8793

R2

R1

PP

S1

S2

23780

23348

23132

22916

22484

R2

R1

PP

S1

S2

25281

24003

23364

22725

21447

R2

R1

PP

S1

S2

26061

24267

23370

22473

20679

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9606

9474

9242

8827
20472

BANK NIFTY

23480

22948

21927

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9694

9703

8770

BANK NIFTY

23864

23897

19595

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily chart of Equity index Nifty price seems to take a
pause inside the breakdown zone before a swinging move. Nifty is expected to trade in a positive
note in next trading session as the both the indicators are in positive territory and Nifty may touch
the 9700 level. The Crucial levels of Nifty as per Technical Analysis is 9430-9361 is Down side
and 9560-9648 is Up side.

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 to trade in a Positive note for next week trading session
the crucial levels for Bank Nifty as Per technical Analysis is 23148-22964 is down side and

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1593
289

1582
367

1569
363

1558
362

1545
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

205
915
484
2694
164
621
126
323
20356
359
573
295
265
3145
429
841
843
1285
1189
3211
178
833
262
231
1108
1013
79
731
1370
1200
53393
5238
210
163
37
453
1066
507
44
268
241
662
305
2313
480
80
427
144
1209
451

248
1113
520
2811
162
641
137
387
23655
378
559
245
2703
366
1257
858
1628
1662
3712
193
1097
294
324
1486
937
86
964
1712
1362
68879
7246
158
159
23
650
1396
505
44
275
252
558
268
2370
436
82
548
147
1472
493
367

246
1098
514
2788
159
632
135
380
23185
374
551
244
2674
360
1242
848
1617
1653
3689
191
1080
290
317
1474
933
84
950
1686
1353
68365
7201
157
158
22
643
1386
498
43
272
250
548
264
2346
432
81
539
146
1449
490
363

245
1089
509
2776
156
622
134
376
22920
372
543
243
2637
358
1218
841
1609
1645
3663
190
1069
289
310
1465
928
82
939
1674
1349
67979
7170
156
157
21
639
1379
494
42
270
247
536
262
2316
429
80
531
144
1431
487
362

243
1074
503
2753
153
613
132
369
22450
368
535
242
2608
352
1203
831
1598
1636
3640
188
1052
285
303
1453
924
80
925
1648
1340
67465
7125
155
156
20
632
1369
487
42
267
245
526
258
2292
425
79
522
143
1408
484
358

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

TOP 15 LOOSERS
SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

TATA STEEL

507

545

+ 7.59 %

1

SBIN

288

273

- 5.30 %

2

VEDANTA

236

249

+ 5.15 %

2

ASIAN PAINTS LTD

1153

1102

- 4.39 %

3

ITC LIMITED

311

323

+ 4.07 %

3

ACC LIMITED

1636

1568

- 4.19 %

4

BHARTI AIRTEL

366

379

+ 3.69 %

4

RELIANCE

1435

1380

- 3.89 %

5

CIPLA LIMITED

541

555

+ 2.67 %

5

ZEEL

509

491

- 3.61 %

6

AXIS BANK LIMITED

504

517

+ 2.52 %

6

KOTAK BANK

985

955

- 2.99 %

7

SUN PHARMA

543

555

+ 2.19 %

7

TATA MOT LTD

443

432

- 2.39 %

8

GAIL LIMITED

354

361

+ 2.06 %

8

1102

1076

- 2.35 %

9

YES BANK LIMITED

1435

1463

+ 1.96 %

9

INDIABULLS
HOUSING
HDFC

1651

1614

- 2.20 %

10

AURO PHARMA

672

684

+ 1.84 %

10

L&T

1722

1687

- 2.04 %

11

DR. REDDY’S LAB’S

2643

2690

+ 1.76 %

11

M&M

1376

1348

- 2.01 %

12

BHARAT PETRO

630

639

+ 1.37 %

12

BOSCH LIMITED

23795

23327

- 1.97 %

13

AMBUJA CEMENT

243

246

+ 1.34 %

13

HINDUNILVR

1097

1079

- 1.67 %

14

HINDALCO

188

190

+ 1.19 %

14

HDFC BANK

1678

1652

- 1.58 %

15

HERO MOTOCORP

3660

3701

+ 1.13 %

15

TATA POWER

81

80

- 1.17 %

4
3
2
2
2
1
1

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
India Inc's foreign borrowings at $ 1 billion in May - Indian industry borrowed USD 1.05
billion from foreign markets last month, including through rupee denominated bonds . In contrast,
the borrowings were USD 1.32 billion in May last year. However, the two sets of data are not
comparable as the RDB route was not there until September. As per RBI data, of the total in May
this year, external commercial borrowings and RDBs contributed almost equally at USD 523.95
million and USD 525.76 million respectively. But June onwards, it may be difficult for companies
to float rupee bonds overseas as they will be subject to scrutiny from Reserve Bank's Foreign
Exchange Department before every such issue. The RDB route has become a popular source of
fund raising. Six entities issued rupee bonds -- popularly referred to as masala bonds -- including
the National Highways Authority of India's USD 465.66 million (Rs 3,000 crore) for road
construction.
Record low credit growth: 1,000 companies borrowed Rs 1 trillion less in FY17 - The record
low bank credit growth of 5.1 per cent in FY17 was led by the top 1,000 listed corporates which
saw their net loan outstanding decline by a whopping Rs. 1 trillion in the reporting year, said a
report. One-third of this massive contraction was led by just 10 companies, which cumulatively
availed of Rs. 33,571 crore less in the year over the previous year, according to the report by SBI
Research. this could either be perceived as lower debt utilisation levels or prepayment through
internal accruals or through asset sale. Other reasons could be QIP or private equity participation.
The RBI data showed that bank credit inched up by a tad 5.1 per cent in the year to March 2017,
which was the lowest since 1951 when it had grown by a paltry 1.8 per cent which could be
attributed rise in bond issuance and cheaper non-bank fund sources coupled with overall credit
aversion in the economy as well as non-investment by the private sector in capacity expansion.
However, taken as a whole, as per cent annual results of about 3,000 listed entities for FY17,
there was an 8 per cent increase on a CAGR basis in loan funds outstanding over FY15. The
outstanding loan funds as of FY15 stood at Rs 22.8 trillion, which increased to Rs 26.5 trillion in
FY17. This was Rs 24.2 trillion in FY16.

Unincorporated units contribute Rs. 11.5 lakh crore to economy - As many as 6.34 crore
unincorporated non-agriculture enterprises excluding construction sector, have contributed Rs
11.52 lakh crore to the economy and provided employment to 11.13 crore in 2015-16. During
2015-16, the aggregate gross value added by the unincorporated non-agricultural enterprises
engaged in market production was estimated as Rs. 11,52,338 crore," stated a report by National
Sample Survey Organisation. According to the report, at all India level, units that employ at least


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