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Equity Research Report 31 July 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Last week the Indian Benchmark Index Nifty made a new record high of 9982 on
the last trading day and closed at 9966. The Domestic Institutional Investors continued buying as the
quarterly numbers by most of the Companies were impressive. The Benchmark Index Nifty has shown
5 digit figure in last week. Nifty made a high of 10011 and closed at 9965 on Tuesday trading session.
Investors remained cautious ahead of FED two days policy Meeting Outcome. Although Fed keep rate
Unchanged which move the market in bullish trend, Market remained highly volatile ahead of F&O
Expiry and Profit booking did’nt rule out at point of time, but overall, market traded bullish and as of
now any downfall would be an opportunity for traders to go long in the market. Breaching 10040
would force Nifty to see 10100-10246 levels ahead. Nifty has made a all-time high of 10026.The
index opened at 9993 and closed at 10025 after making a low of 9944. However the Index is not able
to sustain it’s crucial 10040 level which will decide the bullish trend of Nifty for upcoming week.
Nifty Closed The July Expiry Above 10000 levels & Up By Almost 5% On the back of Q1 Earning
Optimism, Smooth GST Roll Out, Good Monsoon, RBI Rate Cut Hopes, Forced P-Note FNO Short
Covering & Supportive Global Cues it may move the market towards bull side. The Significance
Support for Nifty is 9967-9886 and Strong Resistance for index is 10100-10168 levels for upcoming
week.
BANK NIFTY : - Bank Nifty also made a record high of 24461 last day and closed at

24421.HDFC Bank closed at 1735.10, up by 1.88% from its previous day’s close after the
announcement of its June quarter result. Bank Nifty achieved the psychological 25000 mark in
last week ’s trading session and market drifted down due to profit booking during the week.
Again Bank Nifty closed near 5 day’s moving average which is presently at 24740 levels. Yes
bank gained 6.44% after announcing its quarterly results.Indus Bank by 2.43%, ICICI Bank
by 1.91% were among the top movers in the Banking Index in last weeks trading sessions.
Indian banks are most at risk in South and South-East Asia. We agree that many banks in
India remain undercapitalised and continue to lack sufficient loan-loss provisions. Moreover,
the government has appeared reluctant to increase capital injections into the PSU banks,
despite the limited ability of these to access equity markets for the much-needed capital," the
credit rating agency Moody’s said. Time and Price action Suggest the Bank Nifty need to
Sustain the 24900 crucial level for further up move towards 25120-25240 levels. On the Flip
side Sustaining below 24900 levels may drag the index towards 24780-24660 levels I near
term

Monday, 31 July 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10138

10028

9973

9918

9808

R2

R1

PP

S1

S2

10572

10182

9792

9402

R2

R1

PP

S1

S2

11521

10379

9808

9237

8095

R2

R1

PP

S1

S2

25357

24943

24736

24529

24115

R2

R1

PP

S1

S2

26936

25359

24569

23779

22199

R2

R1

PP

S1

S2

29678

25914

24032

22150

18386

9987

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

NIFTY

9961

9872

9436

9097

BANK NIFTY

24039

23507

22663

21399

WEEKLY

MONTHLY

PARABOLIC SAR

DAILY

NIFTY

9606

9494

9475

BANK NIFTY

23337

23085

23038

200 DAYS

PATTERN FORMATION ( NIFTY )

Detail of Chart - The Nifty closed the week on a bullish note. Nifty opened gap up today post US FED
interest rate decision and domestic news flow. 10000 strike call writers were forced to square off their
positions. This pushed the Nifty even higher to 10114.85. From there, Nifty started correcting and made of
low of 10005.5. Finally In hourly chart Nifty has corrected sharply and closed at 10020.55 near hourly mid
Bollinger Band line, which stands at 10021, on Thursday’s close. In near term Nifty may find support
close to 34 hour moving average and 50 hour moving average. The selloff in Nifty could be just an one
day phenomenon due to profit booking by bulls ahead of expiry. The Fibonacci retracement of the last rise
from approx. 9949.7 to approx. 10114.9 is drawn in the daily chart and close is near the 61.8% retracement
level of approx. 10013. On the upside today’s high of approx. 10115 should act as a logical resistance and
9980 sould act as a Strong Support for The Nifty.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - On the Above given daily cahrt of Bank Nifty has Applied Bollinger Band and
parabolic SAR both are leading Indicators and gives the early signals of buy or sell.Bank Nifty in Chart is
placed around hourly Upper Bollinger Band line, which stands at 24820 levels, In near term Bank Nifty
may find support close to 10 day’s moving average 24840-24680 levels, and 21 day moving average. The
selloff in Nifty could be just an one day phenomenon due to profit booking by bulls ahead of expiry. The
Fibonacci retracement of the last rise from approx. 24300 to approx. 24942 is drawn in the daily chart and
close is near the 61.8% retracement level of approx. 25075 levels. As of Now 24075 should act as a logical
resistance and 24840 sould act as a Strong Support for The Bank Nifty

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1770
402

1751
398

1738
394

1719
390

1706
386

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

270
1162
537
2889
163
485
372
419
24337
418
578
259
2535
390
1092
934
1841
1800
3723
222
1185
310
298
1654
1026
1191
1026
1208
1411
70194
7714
168
168
27
752
1619
545
47
303
579
265
2526
450
84
568
161
1905
547
402
270

266
1156
527
2848
162
479
370
416
24124
414
572
256
2509
386
1079
918
1794
1788
3692
220
1175
306
296
1635
1008
1180
1016
1190
1402
69489
7665
166
166
26
721
1606
529
46
301
570
264
2508
448
83

263
1148
520
2826
161
474
367
412
23887
409
564
253
2480
383
1072
880
1751
1775
3659
217
1158
299
291
1614
985
1168
1005
1171
1389
68995
7625
163
164
26
691
1592
516
45
298
559
261
2475
445
82
555
156
1809
539
394
263

259
1142
510
2785
160
468
365
409
23674
405
558
250
2454
379
1059
864
1704
1763
3628
215
1148
295
289
1595
967
1157
995
1153
1380
68290
7576
161
162
25
660
1579
500
44
296
550
260
2424
443
81
550
153
1757
534
390
259

256
1134
503
2763
159
463
362
405
23437
400
550
247
2425
376
1052
826
1661
1750
3595
212
1131
288
284
1574
944
1145
984
1134
1367
67796
7536
158
160
25
630
1565
487
43
293
539
257
2373
440
80
542
151
1713
531
386
256

563
158
1853
542
398
266

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

TOP 15 LOOSERS
SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

YES BANK LTD

1577

1841

+ 16.75 %

1

DR. REDDY’S LABS

2762

2464

-34.26 %

2

HDFC

1640

1785

+ 8.80 %

2

LUPIN LIMITED

1142

1063

-10.96 %

3

HDFC BANK

1703

1778

+ 4.43 %

3

AXISBANK LTD

540

515

-6.55 %

4

INDUSIND BANK

1566

1628

+ 3.94 %

4

SUN PHARMA

575

550

-6.53 %

5

ADANI PORTS

381

395

+ 3.63 %

5

COALIN INDLTD

262

251

-6.29 %

6

INDIABULLS HOUSI

1137

1175

+ 3.35 %

6

TATAMOTOR LTD.

464

445

-6.16 %

7

SBIN

290

299

+ 2.91 %

7

ULTRATECH CEM

4176

4024

-5.94 %

8

VEDANTA

268

274

+ 2.33 %

8

INDIAN OIL CORP

380

367

-4.84 %

9

BHARAT PETRO

467

475

+ 1.81 %

9

TECH MAHINDRA

394

381

-4.79 %

10

INFOSYS

980

997

+ 1.76 %

10

AURO PHARMA

748

723

-4.59 %

11

KOTAK BANK

999

1012

+ 1.33 %

11

ZEEL

556

540

-4.56 %

12

ACC LIMIITED

1708

1731

+ 1.32 %

12

ICICI BANK

302

296

-4.44 %

13

MARUTI SUZUKI

7543

7630

+ 1.16 %

13

BHARTI INFRATEL

410

403

-4.15 %

14

WIPRO LIMITED

286

289

+ 1.05 %

14

L&T

1179

1161

-3.90 %

15

ITC LIMITED

288

291

+ 0.92 %

15

TATA POWER

83

82

-3.83 %

3
5

8
7

1
3

1
2

7
2

9
4

4
6
0

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
FDI up 23% at $10 billion during April-May: Nirmala Sitharaman - Foreign direct
investment inflows into the country increased 23 per cent in the first two months of the current
fiscal from a year ago, commerce and industry minister Nirmala Sitharaman said in a written
reply to the Lok Sabha on Monday. The cumulative foreign direct investment in April-May was
$10.02 billion, or about Rs 64,524 crore, compared with $8.12 billion, or about Rs. 52,289 crore,
a year earlier. The minister said the government has put in place an investor-friendly policy for
FDI and except for a small negative list most sectors are open for 100 per cent FDI. "The policy
on FDI is reviewed on an ongoing basis to ensure that India remains attractive and investor
friendly destination… The government has taken a number of FDI policy reforms which are not
only bold but historic," Sitharaman said. In 2016-17, the foreign fund inflows aggregated at
$60.08 billion, or about Rs 3,86,885 crore, the minister told Parliament.
India Inc's overseas investment plunges 46% to $1.12 billion - Direct investments by Indian
firms abroad plunged by 46 per cent to USD 1.12 billion in June this year, according to the RBI
data. They had invested USD 2.07 billion in their overseas ventures in June last year. In previous
month, May 2017, the investment figure stood at USD 1.26 billion. The investments made last
month were a mix of issuance of guarantees (USD 370.11 million), loans (178.80 million) and
equity (USD 568.34 million). The prominent investors overseas in June included Indian Oil
investing a combined USD 284.28 million in a joint venture and fully owned subsidiary in
Mayanmar and Singapore respectively.
Expect Indian growth to pick up in 2017, 2018: IMF - With global economic recovery
remaining on track on the back of better performing emerging economies, growth in India is
expected to pick up further in 2017 and 2018, the IMF has said. Growth in India is forecast to
pick up further in 2017 and 2018, in line with the April 2017 forecast," the International Monetary
Fund said in its latest World Economic Outlook report on Monday. "Pick-up in global growth
anticipated in the April World Economic Outlook remains on track," the IMF report said. "While
activity slowed following the currency exchange initiative, growth for 2016 -- at 7.1 per cent -was higher than anticipated due to strong government spending and data revisions that show
stronger momentum in the first part of the year," it said, referring to India's demonetisation
measure as well as to the base year revisions in GDP calculations made by the Central Statistics


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