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Equity Research Report 16 August 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Last Week Nifty Index made fresh all time high of 10138 and closed above a
psychological level of 10000. However this rally did not sustain As Nifty trades below 9700 levels. The
Benchmark Index Nifty on 7th August opened at 10075 closed at 10057 after making a low of 10046.The
Index ended 9 points down from its previous close of 10066. Tyre stocks rose after reports suggested that the
Directorate General of Anti-Dumping and Allied Duties is in talks with the Finance Ministry for the imposition
of anti-dumping duty on truck and bus radial tyres imports from China. The authority has submitted a report to
the Finance Ministry which will take the final decision soon. The Market fell on Tuesday due to an unexpected
regulatory order imposing trading restrictions on 331 listed entities identified as shell companies raised
concerns about a wider probe into others. On Tuesday trading session, Nifty was down by 78 points and the
market took support at 20 DMA around 9970 in the daily chart. The market fell for the third consecutive
session on Wednesday. Nifty was down by 70 points and in the daily time frame, the 20 DMA or mid Bollinger
support placed around 9974 got broke and faced strong resistance 9970. Nifty opened gap down, pulled back
and after making an intraday high of 9969, slipped about 75 points subsequently. The Securities and Exchange
Board of India has directed stock exchanges to initiate action against 331 listed entities suspected to be shell
companies. These companies will not be allowed to trade this month, according to a Sebi circular sent to
exchanges on 7 August. These 331 shares will be kept in stage four of the so-called Graded Surveillance
Mechanism with immediate effect. Market fell for the fourth consecutive session on Thursday with a gap
down. After Yesterday’s close below 200 hourly Moving average, market breached another important support
of 34 DMA 9840 levels. However, market bounced in the last one hour from vicinity of 50 DMA Support
around 9778 levels. The Benchmark Index Nifty on 10th August experienced a forth day consecutive sell off
and closed at 9820 after making a low of 9776. If Index sustain below its 3 week low of 9792 We might see
Nifty to further fall at 9646 levels in near Term. The Significance levels for Nifty is 9930-9983 is Up side or
9750-9634 is Down side.

BANK NIFTY : - BankNifty opened at 24854 and closed at 24906 afetr making a low of 24844. The Index
was up by 79 points from its previous close of 24827. Bank Nifty also made all time high in last week trading
session of 25199 but closed below its psychological level of 25000 at 24827. Bank Nifty opened at 24942 and
closed at 24600 after making a low of 24534 on Tuesday trading Session. The Index was down by 306 points
from its previous close of 24906. Bank Nifty Wednesday corrected 225 points from its previous day’s closing
and closed at 24375 after making a low of 24328.Federal Bank down by 3.56%, Axis Bank by 2.5%, ICICI
Bank by 1.66% and Yes Bank by 1.25% were among the major losers in the Banking Index. Last week Lok
Sabha has passed the Banking Regulation (Amendment) Bill, 2017 introduced last month to replace the
existing ordinance promulgated in May this year to empower the Reserve Bank of India to deal with stressed
assets. Reserve Bank of India cut the key interest rate by a quarter points to 6% as expected without changing
its stance, saying that it would remain on guard as price pressures may return in the wake of a house rent
allowance payout and the July 1 rollout of the goods and services tax. Time and Price Action Suggest that
Bank Nifty need to Sustain over 24000 levels 24050 level for Any strength towards 24177-24309 levels, On
the Other Side Sustaining below 24050 may drag the Index towards 23786-23578 in near Term.

Wednesday,16 Aug 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9973

9805

9721

9637

9469

R2

R1

PP

S1

S2

11032

10230

9829

9428

8626

R2

R1

PP

S1

S2

11181

10289

9843

9397

8505

R2

R1

PP

S1

S2

24971

24333

24014

23695

23057

R2

R1

PP

S1

S2

27591

25381

24276

23171

20961

R2

R1

PP

S1

S2

28285

25659

24346

23033

20407

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9762

9826

9905

9857

BANK NIFTY

24049

24120

24165

24299

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9705

9520

9475

BANK NIFTY

23683

23167

23038

PATTERN FORMATION ( NIFTY )

Detail of Chart - The closing of today’s candle below the 5 Low EMA 9700 indicates short term
weakness. The market closed just above the mid Bollinger line or the 20 DMA 9710, which act as
a probable support in the very short term so we should closely watch the price movement in the
next 1-2 days. The next probable support in the daily chart remains at 34 DMA approx 9664, 50
DMA approx 9640 and the lower Bollinger line presently at approx 9597. However, the probable
resistance could be seen at 5 day low EMA at 9994 and 8 DMA presently at approx10050. Daily
CCI, RSI and slow stochastic have turned down from the overbought zone which is a moderate
bearish signal as of now. ADX has also turned down indicating weakness in upside momentum.
Overall, Nifty in the daily time frame remains neutral to bearish

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the above given chart Bank Nifty looks bearish and may trade in bear trednd
in upcoming trading session. Bank Nifty had a good bullish day on Monday. But ,the momentum
shifted from the day of RBI policy. Even though there was a rate cut, Bank Nifty saw profit
booking and the price broke the upward-sloping supportive trend line, and towards the week’s
end closed just at the trend line. Hourly Technical: In the hourly chart, the Bank Nifty is just
situated at 20 hour moving average. After the break-down below the trend line, it is vulnerable
for more weakness if it stays below the trend line and 20 hour moving average presently approx
24812.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

1799
389

1779
380

271
1145
484
2796
154
490
404
414
23757
414
555
241
2023
376
1085
876
1715
1761
3856
234
1177
290
268
1635
967
1148
985
1130
1386
62970
7395
157
166
19
722
1525
452
37
270
450
215
2471
362
75
593
124
1709
499
389
271

268
1134
480
2749
152
483
395
410
23502
410
546
240
1992
372
1073
870
1697
1754
3821
230
1168
288
264
1628
961
1134
974
1120
1380
61595
7311
155
164
18
695
1505
438
36
260
440
208
2451
349
74
585
121
1678
492
380
268

ACC
ADANI PORTS

EQ
EQ

1853
426

1836
411

1816
403

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

279
1172
505
2984
160
522
435
424
24610
425
590
247
2150
390
1139
895
1761
1784
3997
249
1205
296
278
1658
982
1210
1012
1168
1415
69975
7617
163
174
22
789
1599
490
40
312
469
230
2555
391
78
613
131
1788
526
426
279

276
1164
497
2913
157
510
424
421
24311
421
577
245
2102
385
1118
889
1747
1776
3944
244
1195
294
276
1650
977
1186
1004
1154
1404
66160
7548
161
171
21
769
1572
478
39
296
458
226
2523
383
77
607
129
1764
516
411
276

273
1153
492
2867
156
502
415
417
24056
418
568
243
2071
381
1106
882
1729
1769
3909
240
1187
292
273
1643
972
1172
993
1144
1397
64785
7464
159
169
20
742
1552
464
38
286
451
219
2503
370
76
599
126
1733
509
403
273

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

/

PREV
CLOSE

CMP

% CHANGE

1

V2 RETAIL

266

302

+ 14.95 %

2

PC JEWELLER

259

297

+ 14.53 %

3

FUTURE RETAIL

402

445

+ 10.66 %

4

BRITANNIA INDUS

3917

4101

+ 4.71 %

5

UTTAM SUGAR

176

184

+ 4.42 %

6

KWALITY

134

139

+ 4.25 %

7

TATA STEEL

575

596

+ 3.63 %

8

GUJRAT GAS

755

772

+ 2.34 %

9

SHEMAROO ENTER

357

365

+ 2.32 %

10

KIRLOSKAR INDUS

1359

1387

+ 2.06 %

11

PETRONET LNG

207

210

+ 1.64 %

12

JUBILANT FOODWOR

1279

1296

+ 1.35 %

13

HEXAWARE TECH

252

254

+ 0.95 %

14

GODREJ PROPER

494

498

+ 0.84 %

15

BATA INDIA

631

635

+ 0.66 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

TATA MOTORS

435

374

- 14.03 %

2

SUN PHARMA

506

450

- 11.14 %

3

BANK OF BARODA

158

142

- 10.51 %

4

DR. REDDY’S LABS

2239

2011

- 10.20 %

5

SBIN

305

280

- 8.22 %

6

ZEEL

541

504

- 6.82 %

7

BHARAT PETRO

517

484

- 6.49 %

8

BHARTI INFRATEL

406

382

- 5.96 %

9

ADANI PORTS

406

382

- 5.88 %

10

COALIND LTD

249

235

- 5.34 %

11

LUPIN LIMITED

992

940

- 5.23 %

12

INDIABULLS

1213

1149

- 5.22 %

13

HOUS
AMBUJA CEMENT

277

263

- 5.08 %

14

M&M

1418

1348

- 4.94 %

15

CIPLA

177

168

- 4.79 %

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK

Government spending rises 27% to Rs 6.5 lakh crore in Q1 FY18: FM Arun Jaitley - The
government's expenditure went up 27 per cent in April-June of the current fiscal to over Rs 6.50
lakh crore as a result of Budget advancement by a month, Finance Minister Arun Jaitley said
today. In a written reply in the Rajya Sabha, he said the advancement of the Budget by a month to
February 1 was intended to utilise the full working season, including the first quarter (April-June
of 2017-18), to step up expenditure. Previously when the budget got approved in mid-May, the
spending would start only in the second quarter. This year, the Budget was presented on February
1 and Parliament approved it before the start of the fiscal year on April 1. The total expenditure of
the Union government during the first quarter is Rs 6,50,731 crore, which is 30.3 per cent of the
amount budgeted for 2017-18 (Budget Estimate or BE) as against Rs 5,11,833 crore (25.9 per
cent of BE 2016-17) for the corresponding period of the previous year, Jaitley said. The
government had brought forward the Budget presentation to provide allocation to the departments
from the first day of the new financial year, he said.
India is on right track, growth rate reflects it: Goldman CEO - Having deployed almost $3.5
billion over the last decade in the country, Goldman Sachs Group Inc will continue to grow its
local franchise as an trusted advisor, financier and investor of India Inc, said Lloyd Blankfein. If
you are willing to commit your own money, which we are, you command attention and it is
helpful to attract other people’s money. It is one thing to recommend, but when your clients see
you doing it, that is the sincerest form of advice you can give," the 62 year old chairman and chief
executive of the Wall Street investment banking bell weather told ET during an exclusive
interview that touched upon a wide swathe of topics ranging from Fed rates and outlook on global
markets and commodities; the Trump administration, being on twitter and the need to review the
stringent financial regulations in US to the growth pillars for India and its other emerging market
contemporaries, especially from the BRICS nations. Sitting with his leg propped up on a coffee
table in his 41st floor office, overlooking the Hudson River and Jersey City, Blankfien said he
does not think India is an outlier any more. "If you told me five years ago that India was going to
be outgrowing China consistently for a period of time, I would say that would have been a
surprise to me then and less of a surprise to me now because I have seen it evolve that way," he
said.
IMD forecasts heavy rainfall in southern India - India Meteorological Department forecasts


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