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Equity Research Report 07 August 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - This Week Nifty Index made fresh all time high of 10138 and closed above a
psychological level of 10000. However this rally may not sustain if nifty trades below 9988 l. FII &
PRO has created a short position in last 10 days for 240908 contracts. On the fifth consecutive day,
The Indian Benchmark Index Nifty closed above 10000 levels.last day the Index closed at 10,066
after making a high of 10075. The Reserve bank of India cut the repo rate by 25 bps to 6%. Nifty was
down by 33.15 points and the probable Resistance as per Chart was at 10,141. The market made an
opening high of approx. 10138 and corrected steadily during the day. Moreover, the support as per
chart was mentioned at 10,058 and market after making a low of 10,054, recovered to close at 10081.
The Indian Benchmark Index Nifty made an all time high of 10138 and closed at 10082 after making
a low of 10054. The Index ended lower by 33 points after RBI trimmed repo rate by 25 bps. RBI has
cut repo rate by 25 basis points in its third bi-monthly monetary policy outcome on Wednesday, as
widely anticipated by the market. Now, the repo rate stands at 6%. Consequently, the reverse repo rate
under the LAF stands adjusted to 5.75%, and MSF rate and the bank rate to 6.25%. Market signalled
fresh up move after Friday’s close above the Monthly upward channel line at 10060. In the daily
chart. Nifty continued its upward rally after taking support from upward channel line. The market
surged by another 52 points and sustained above the 10000 mark. Nifty may open flat in next week
trading session but continue to move up. Time and Price action Suggest that Nifty need to Sustain
over 10060 levels for further up move towards 10154-10240, On the Flip Side if break this level may
darg towards 9947-9902 in near-Term.
BANK NIFTY : - Bank Nifty also made an all time high of 25190 and closed at 25055 after making a
low of 24926.Indusind Bank up by 1.21%, HDFC Bank by 0.72%, Yes Bank by 0.98% were among
the top movers in the Banking Index. This is the first time the Index closed above the psychological
level of 25000.The Index opened on week at 24881 and closed at 24827 levels. Among the Banking
stocks, State Bank of India rallied 4.5% after it reduced Interest Rate on Saving account deposits by
50 basis point to 3.5%. The process of resolution of bad loans will start shortly, Finance Minister
Arun Jaitley said in the Lok Sabha as it passed a bill which gives RBI the power to direct banking
companies to resolve the problem of stressed assets. The Reserve Bank has already identified top 12
loan defaulters and more cases will be taken up by them for resolution. The Bank Nifty traded in a
positive note for whole week on the back of rate cut by Reserve Bank of India central bank trimmed
repo rate by 25 bps in its third bi-monthly monetary policy outcome on Wednesday, as widely
anticipated by the market. As of Now Time and Price Action Suggest that Bank Nifty need to Sustain
the 24950 level for further up move towards 25120-25278, On the Flip side Sustaining below 24950
may drag the index towards 24850-24520 In near Term.
Monday, 7 Aug 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10292

10120

10034

9948

9776

R2

R1

PP

S1

S2

10484

10196

10052

9908

9620

R2

R1

PP

S1

S2

10501

10213

10069

10007

9637

R2

R1

PP

S1

S2

25572

25014

24735

24456

23898

R2

R1

PP

S1

S2

26632

25456

24868

24280

23104

R2

R1

PP

S1

S2

26701

25525

24937

24349

23173

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

8197

8321

8371

8285

BANK NIFTY

24383

23769

22881

21572

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

10137

9548

9520

BANK NIFTY

25198

23185

21492

PATTERN FORMATION ( NIFTY )

Detail of Chart - In the daily time frame, Nifty remains bullish. The Nifty closed above the 5
EMA high (presently at approx.10045.6) which is very positive. An important probable support
in the daily chart remains at 13 DMA (presently at approx.9944.1) and above this Nifty will
continue to remain bullish. The immediate support in the short term could be seen at 5 EMA low
(at 9970.3) and 8 DMA (at 9981.5). On the upside, the upper Bollinger line (presently at approx.
11128) should act as a probable hurdle.
CCI and DMI indicators look extremely positive and the upward rising Bollinger band suggests that
this uptrend will be intact as of now. All the indicators including CCI, RSI, Stochastic are in the
overbought zone and DMI seem to be very bullish. Overall Nifty looks bullish in the daily time frame
based on the daily technical parameters. The Significance levels for Nifty is around 10080-10120 is
up side and 9980-9945 is Down side

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of Bank Nifty has Applied the Bollinger Band
along with Parabolic SAR. Both are the leading Indicators and give Signal on Breakout of Upper
or Lower Band. On the Above given chart of Bank Nifty it is trading around Middle Band if it is
not able Sustain the Support level of 18180. From this level we are Expecting the If the Bank
Nifty is able to Sustain the Level of 18500 may go Further Up side to the level of 18800-19100
Level for Next week. The Significance levels for Bank Nifty is 18494-19802 Up side and 1818017880 is Down Side.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1854
414

1828
410

1298
407

1784
403

1766
400

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

283
1170
513
2941
163
540
441
432
25327
412
586
257
2360
391
1147
904
1746
1812
4038
229
1212
299
286
1687
997
1231
1006
1187
1444
70576
7831
169
183
24
760
1690
538
43
311
527
257
2548
440
83
591
148
1843
552
414
283

278
1161
510
2893
161
522
423
428
25004
407
574
252
2319
383
1139
892
1737
1798
3964
225
1195
298
283
1669
992
1222
1003
1181
1434
69445
7795
167
179
24
748
1669
532
43
307
521
256
2528
438
82
580
146
1819
546
410
278

274
1151
507
2852
158
506
408
420
24577
403
558
245
2275
377
1123
883
1729
1782
3890
222
1178
295
281
1652
984
1210
995
1175
1415
67369
7767
165
174
23
734
1642
526
42
302
506
254
2508
435
81
570
144
1791
542
407
274

269
1142
504
2804
156
488
390
416
24254
398
546
240
2234
369
1115
871
1720
1768
3816
218
1161
294
278
1634
979
1201
992
1169
1405
66238
7731
163
170
23
722
1621
520
42
298
500
253
2488
433
80
559
142
1767
536
403
269

265
1132
501
2776
153
472
375
408
23827
394
530
233
2190
363
1099
862
1712
1752
3742
215
1144
291
276
1617
971
1189
984
1163
1386
64162
7703
161
165
23
708
1594
514
41
293
485
251
2468
430
80
549
140
1739
532
400
265

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

INDIAN OIL CORP

367

418

+ 13.91 %

1

HDIL

85

75

- 11.76 %

2

HERO MOTOCORP

3630

3956

+ 8.99 %

2

NIIT LIMITED

102

91

- 10.20 %

3

BHARAT PETRO

475

517

+ 8.89 %

3

DR,REDDY’S LAB’S

2464

2239

- 9.14 %

4

NTPC

163

177

+ 8.21 %

4

SUN PHARMA

550

506

- 8.06 %

5

TECH MAHINDRA

381

409

+ 7.26 %

5

LUPIN LIMITED

1063

992

- 6.68 %

6

AMBUJA CEMENT

262

277

+ 5.65 %

6

ITC LIMITED

291

280

- 3.70 %

7

VEDANTA LIMITED

274

288

+ 5.19 %

7

HDFC LIMITED

1785

1731

- 3.02 %

8

ACC LIMITED

1731

1813

+ 4.75 %

8

TATA POWER CO.

82

80

- 2.31 %

9

POWER GRID CORP

214

224

+ 4.64 %

9

TATAMOT LTD

445

435

- 2.30 %

10

HINDALCO INDUS

215

225

+ 4.35 %

10

YESBAN K LTD

1841

1807

- 1.84 %

11

TATASTEEL

551

575

+ 4.34 %

11

KOTAK BANK

1012

996

- 1.63 %

12

LIMITED
HINDUNILVER

1153

1192

+ 3.31 %

12

BANK OF BARODA

161

158

- 1.61 %

13

INDIABULLS HOUS

1175

1213

+ 3.21 %

13

AXIS BANK LTD

515

508

- 1.36 %

14

ADANI PORTS

385

406

+ 2.75 %

14

INFOSYS LIMITED

997

983

- 1.36 %

15

INDUSIND BANK

1628

1664

+ 2.23 %

15

COALIND LTD

251

249

- 0.93 %

1
8
3
2
1
1
1

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Arun Jaitley indicates scope for rationalisation of rates under GST - Finance minister Arun
Jaitley on Wednesday said there is scope to rationalise goods and services tax and rolling 12 per
cent and 18 per cent slabs into one as implementation of the country’s most comprehensive
indirect tax reforms progresses. I do concede that as it moves forward, there will be scope for
rationalising the rates. There, probably, will be scope that the two standard rates of 12% and 18
per cent, after some time, could be clubbed into one. That is a fair possibility and a suggestion,”
Jaitley said replying to debate on the two bills related to GST in J&K. Central Goods and
Services Tax (Extension to Jammu and Kashmir) Bill, 2017 and the Integrated Goods and
Services Tax (Extension to Jammu and Kashmir) Bill, 2017 were later passed by a voice vote.
The current GST has 5 per cent, 12 per cent, 18 per cent and 28 per cent rates, plus one for luxury
and sin goods. There are some that are zero rated, or nil rate.
PSU banks need Rs. 1.9 lakh crore capital by March 2019: S&P - PSU banks will need at
least Rs. 1.9 lakh crore additional capital by March 2019 as the lack of it will restrict their ability
to write down Non-Performing loans, S&P Global Ratings said. "We estimate that Indian banks
may need a minimum of about $ 29.6 billion or Rs. 1.9 trillion over the next two years," S&P
Global Ratings credit analyst Geeta Chugh said. Public sector banks will need substantial capital
to make large haircuts on loans to unviable stressed projects and to meet rising Basel III
requirements, S&P said. "The lack of capital restricts the ability of India's public sector banks to
write down non-performing loans to more accurate levels. Weak profitability and rising capital
demands from Basel III implementation will also continue to pressure the capitalisation of many
of these banks. The US-based agency said PSU banks will have to look for alternate sources to
increase their capitalisation.
India's public sector banks face three key challenges in tapping equity capital markets: low equity valuations, overcrowding in the market, and regulations. At the same time, they may
find it hard to raise money via the issuance of additional Tier-1 capital instruments because the
risk of default on these instruments is rising," S&P Global Ratings credit analyst Deepali SethChhabria said.
India must guard against external financing vulnerability: IMF - India needs to remain
vigilant as greater reliance on debt financing and portfolio inflows could create significant


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