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Equity Research Report 17 July 2017 Ways2Capital .pdf


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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Last Week, The Nifty index opened at 9588 and closed at 9666 after making high of 9700. Top
performing sectors for last week was FMCG-Food, Metals & Mining and Infra- Construction Engineering and Material
and Realty. Last Day, The Indian Benchmark Index Nifty made record high of 9782 and closed at 9771. Infra Power,
Banks, FMCG Food, Metals and Mining, Auto and IT were among the top sectors. The Indian Benchmark Index Nifty
made a record high of 9830 and closed at 9786. Infra Power, FMCG Food, Metals and Mining, Automobiles were among
the top sectors. The Nifty opened in a Positive note on Monday trading session up by 54 points or 0.55 per cent at 9719
level. The ongoing GST implementation and its effect on the economy and earnings on the corporate India may be in
focus in addition of further action from P-Notes F&O holders after SEBI restriction circular; for the last two days, we have
seen some short covering from them in order to comply with the SEBI instructions. The big question is will they also
unwind their long positions amid strict regulations by the SEBI and another probable subdued earnings quarter. The Indian
Benchmark Index Nifty on Wednesday 12th July made a high of 9825 and closed at 9816, after making a low of 9788.
The index closed up by 30 points from its previous day close of 9786. Energy-Oil & Gas, Metals and Mining, Realty,
Banks-Private and PSU, Infra-Power were among the top sectors on Wednesday trading session. Indian market got some
boost from lower CPI estimate released for June is 1.5 % against prior figure of 2.18%; IIP for May is slated come around
1.7% against April figure of 3.1%. Thus dual combination of lower growth in Gross Domestic Product growth and lower
headline CPI may be ideal for RBI to cut in Aug’17. on Thursday 13th July made all time high of 9897 and closed at
9892, after making a low of 9853. The index closed up by 76 points from its previous day close of 9816. Indian market is
breaking record after record, it’s coming on the back of forced P-Notes FNO short covering and not on the back of
fundamental buying or reasons and is also not being supported by earnings; ( TTM )PE may be now around 25, which is
quite stretched and in the bubble zone also as par previous trends. Technically Nifty may move towards new high , The
Significance Resistance levels for Nifty is 9924-9972 is up side break above this level may move the index toward 1001510154 and the Significance Support levels for Nifty is 9837-9793 levels.

BANK NIFTY : -Last week, Bank Nifty traded laggard in comparison to other sector, the index opened at 23583 and
closed at 23894 after making high of 23964 Bank Nifty also made an all time high of 23965 day and closed at 23675.PNB
up by 6.28%, Bank of India by 5.67%, Canara Bank by 4.49%, Bank of Baroda by 3.77% were among the movers in the
Index. Bank Nifty opened at 23745 on Tuesday trading session and closed at 23585 after making a low of 23553. All the
stocks in the banking index were in red last day, except HDFC Bank and Yes Bank. The Reserve Bank of India being an
inflation hawk may take the “wait & watch” approach to see more evidences of lower inflation and to change its policy
stance again from neutral to accommodative. Also, core CPI of India may be quite sticky around 4.5-5% and coupled with
that apprehension of GST disruptions, de-stocking & inflation and global chorus of QT may force RBI/ Monetary Policy
Committee to be on the neutral side just to keep the policy parity with USD at present ideal level for the central Bank. RBI
may not disrupt the attractive Indian bond market by being ultra dovish on the back drop of a stressed corporate sector and
fragile Banks Like - PSBS & some private Banks and limited transmission capabilities of the Banks due to various
structural issue. Indusind Bank report card may be termed as mixed as despite decent top & bottom line figure, Bank’s
asset quality may losing shine. The Bank Nifty made it’s high of 23955 and traded in a Strong Positive note on last trading
session. As of Now Bank Nifty need to Sustain the Strong Support of 23980 level for Further up move towards 2410524222 level. While Sustaining below 23980 level may drag the index toward 23755-23638 levels

Monday, 17 July 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10073

9949

9887

9825

9701

R2

R1

PP

S1

S2

10511

10031

9791

9551

9071

R2

R1

PP

S1

S2

10830

10100

9735

9370

8640

R2

R1

PP

S1

S2

24502

24102

23902

23702

23302

R2

R1

PP

S1

S2

25136

24192

23720

23248

22304

R2

R1

PP

S1

S2

26014

24384

23569

22754

21124

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

NIFTY

9648

9574

9338

8874

BANK NIFTY

23525

23257

22294

21092

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9364

8423

7092

BANK NIFTY

23084

22473

22275

200 DAYS

PATTERN FORMATION ( NIFTY )

Detail of Chart - After taking support from 50 day moving average the previous week. Nifty
direction was mostly up during last week while volume was low. The market steadily drifted
towards previous high of 9709 with low volume and ADX index losing momentum. The daily
ADX is indicating loss of momentum and also daily mid Bollinger line has turned horizontal.
Also the width of daily Bollinger band has contracted. Hence there is a possibility that market
may remain range-bound and consolidate in the range going forward, unless there is a breakout or
break-down on either sides. There are good amount of put build-up seen at 9600, 9500 and 9400
strikes. Hence the down-side looks limited with 34 day and 50 day moving averages remaining at
approx. 9591 and approx. 9524 respectively. If on the upside there is a decisive breakout above
9714, i.e. upper Bollinger line, market may scale new highs. The 9700 and the 9800 calls have
approx. 4 million open interest.

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. The daily ADX is indicating loss of momentum and also daily mid
Bollinger line has turned horizontal. Also the width of daily Bollinger band has contracted. Hence
there is a possibility that market may remain range-bound and consolidate in the range going
forward, unless there is a breakout or break-down on either sides. There are good amount of put
build-up seen at 23980,24120 and 24200 strikes. Hence the down-side looks limited with Down
side line & middle line moving averages remaining at approx. 23982 and approx. 24240
respectively.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1805
379

1771
377

1734
375

1700
373

1663
371

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

266
1138
520
2848
168
469
389
411
24599
424
557
256
2742
375
1311
869
1658
1695
3821
208
1155
303
342
1591
1025
1146
992
1198
1388
70524
7629
162
168
25
691
1547
525
45
296
582
279
2446
468
84
569
160
1613
519
379
266

264
1132
517
2830
166
466
384
408
2443
421
551
254
2719
374
1298
863
1654
1690
3788
206
1147
301
341
1586
1005
1137
982
1189
1382
70197
7601
161
164
25
681
1537
521
45
293
575
277
2416
464
84
566
158
1591
516
377
264

262
1122
512
2799
164
461
377
405
24293
414
546
252
2703
373
1280
854
1646
1681
3763
204
1136
298
337
1577
985
1125
972
1174
1375
69674
7561
160
162
24
670
1526
517
44
290
572
274
2396
460
83
561
154
1573
512
375
262

260
1116
509
2781
162
458
372
402
24137
411
540
250
2680
372
1267
848
1642
1676
3730
202
1128
296
336
1572
965
1116
962
1165
1369
69347
7533
159
160
24
660
1516
513
44
287
565
272
2366
458
83
558
152
1551
509
373
260

258
1106
504
2750
160
453
365
399
23987
404
535
248
2664
370
1249
839
1634
1667
3705
200
1117
293
332
1563
945
1104
952
1150
1362
68824
7493
158
158
23
649
1505
509
43
284
552
269
2346
454
82
553
148
1533
505
371
258

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

1

ACC LIMITED

1609

1755

+ 9.06 %

2

GAIL LIMITED

358

390

+ 8.75 %

3

AURO PHARMA

694

746

+ 7.10 %

4

HINDALCO INDUS

194

205

+ 5.67 %

5

BHARTI AIRTEL

385

407

+ 5.47 %

6

INDIABULLS HOUS

1065

1122

+ 5.39 %

7

NTPC

159

167

+ 5.19 %

8

SUN PHARMA

549

572

+ 4.29 %

9

SBIN

280

291

+ 4.11 %

10

INFOSYS

935

972

+ 3.92 %

11

YES BANK LIMITED

1505

1564

+ 3.91 %

12

HINDUNILVR

1097

1139

+ 3.79 %

13

BAJAJAUTO LTD

2708

2809

+ 3.75 %

14

AMBUJA CEMENT

253

261

+ 3.33 %

15

BHARTI INFRATEL

404

417

+ 3.33 %

SR.NO

+

+

+

+

+

+

+

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

L&T

1704

1171

- 31.28 %

2

BHARAT PETRO

663

460

- 30.60 %

3

ORCHID PHARMA

29

27

- 5.91 %

4

VIP INDUSTRIES

192

182

- 5.47 %

5

MINDTREE LTD.

539

514

- 4.49 %

6

UJAAS ENERGY

27.90

26.00

- 4.48 %

7

INDIABULLS REAL

204

197

- 3.71 %

8

SHEMAROO ENT.

383

369

- 3.58 %

9

B F UTILITIES

402

387

- 3.50 %

10

MPHASIS LTD.

597

576

- 3.49 %

11

VRL LOGISTIC

333

322

- 3.27 %

12

IOC

382

373

- 2.39 %

13

ONGC

159

158

- 0.78 %

14

COAL INDIA LTD.

251

250

- 0.26 %

15

DR. REDDY’S LAB

2705

2703

- 0.09 %

3
5
4
3
3
2
0

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK

Share of exports to top destinations rose to 51.6 per cent in FY17: PHDCCI - Share of
India's total exports to top 10 destinations worldwide has increased to 51.6 per cent in 2016-17,
compared to 49 per cent in 2013-14, industry body PHDCCI today said. India's main export
destinations include the US, Japan, Hong Kong, UAE, China, Singapore, UK and Germany. The
country's merchandise exports to the US grew from $39.14 billion in 2013-14 to $42.33 billion in
2016-17, PHDCCI President Gopal Jiwarajka said in a statement. Nearly 53 per cent of exports to
America are in the form of consumer goods, followed by intermediates, capital goods and raw
materials. Similarly, India's exports to Hong Kong grew 11.2 per cent to $14.2 billion in 2016-17.
"Going ahead, we are hopeful that our exports will touch $325 billion mark in the current
financial year," Jiwarajka added.

Rupee strengthening to hurt exporters by up to 3 per cent in Q1: Crisi l - Largest
ratings agency CrisilBSE -0.62 % today warned the 4 per cent appreciation in the rupee will
impact the June quarter sales of exporters by up to 3 percentage points and profits by up to 1.50
per cent. "The sharp appreciation in the rupee against the dollar in recent months is likely to have
dented the first-quarter (current fiscal) profitability of exporters that source locally and have
limited pricing power," it said. The rupee is steadily appreciating against the dollar for the past
few months and moved from 65.03 on April 3 to 64.58 on June 30 against the dollar. Leather,
textiles, meat, seafood and basmati rice are the most vulnerable with an impact of up to 3
percentage points of net sales, while the same for pharmaceuticals and agrochemicals will be
much lower at 1.50 per cent. Gems and jewellery, and the information technology sectors will
have minimal impact of the rupee strengthening as they have import outgoes and extensive
hedging, respectively. On the bottomline front, the agency said the net profits will be impacted
between 0.50-1.50 per cent only because of the foreign currency loans taken by most exporters, it
said, adding 50-90 per cent of borrowings are foreign currency denominated.

Government to sell securities worth Rs 18,000 crore on July 14 - The Reserve Bank said
the government will sell four dated securities for Rs 18,000 crore on July 14 through auction. The
auction will be conducted using the multiple price method. Up to 5 per cent of the amount will be
allotted for eligible individuals and institutions as per the scheme for non-competitive bidding
facility in the auction of Government Securities, RBI said. The result of the auctions will be
announced on the same day, the central bank said in a statement. Payment by successful bidders
will be on July 17. Both competitive and non-competitive bids for the auction have to be


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