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Equity Research Report 21 August 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Taking cues from geopolitical tension the Benchmark Index Nifty on last Friday fell more
than 100 points from its previous day low of 9776. The Index made a low of 9686, the Index opened at 9712
and closed at 9711. Last Week Index fell 3.53% registering the highest weekly fall in last 1 year. Nifty Market
opens gap up and closed in green in today’s session with price action confirming inverted hammer candlestick
pattern in the daily chart. As mentioned in the last day’s report that a strong pullback is possible if Nifty
sustains above 9774 and at the same time there was a strong Resistance in the hourly chart 9818 from where
the market saw profit booking in the last one hour. The Nifty started week in a Positive note up by 45 points
from its last closing at 9755 levels. The Indian benchmark Index Nifty closed in green for the second day and
closed 9897 after making high of 9904. The Index opened at 9825 and made low of 9774. Nifty after making a
lifetime high of 10137 in the month of August has corrected more than 4% since then. Nifty is presently
standing at a very crucial level of 61.8% retracement 9840 of the last rise from approx.9548 to 10146. The
Indian benchmark Index Nifty closed in green for the second day and closed 9897 after making high of 9904
on Wednesday trading session. The Index opened at 9825 and made low of 9774. Nifty prices settle lower last
week around 3.5% lower at 9710 from its week's high of 10088. Prices could rebound a little till 9800 - 9850
levels and may expect fresh selling on higher levels. Rising issues over India-China border may be a matter of
concern for Asian markets. Moreover, Asian markets are under pressure after investors on Wall Street sell off
on growing uncertainty over the Trump administration ability to follow through on economic policy. Nifty
needs to close above 9850 to resume its positive momentum. If Nifty managed to close below 9780 then bears
would become active again and further downfall would be seen in the market. Market would see reversal and
would enter into negative zone once it closes below 9780 for Nifty If that happens then market would again test
its immediate lows of 9700 in days to come.

BANK NIFTY : -Nifty Bank closed little positive on Friday after its volatile move from 23850 - 24185.
Prices could rebound higher till 24250 - 24400 levels for near-term however the trend remains weak for short
term. Expect fresh selling on rise. Bank Nifty closed above its 3day high levels of 24327 and closed at 24437.
The Index closed in green for the third consecutive day. Bank Nifty made low of 23868 and closed at 23896.
The Index oped at at 23958 and made a high of 24191. The Index fell for the forth consecutive day. Last Week
the Index fell 3.39%, this was the second time the Index fell more than 3% in last one year. Bank Nifty closed
above its 3day high levels of 24327 and closed at 24437 on last week trading sessions. The Index remained in
green for continuous three trading session. Resolution of bad loans in the banking system is on 'right track' and
will 'open the door' to rapid credit expansion and growth, Niti Aayog Vice Chairman Arvind Panagariya has
said. Terming the non-performing assets or bad loans problem as a 'legacy issue', he said that even after three
years of the NDA government taking charge, it has not gone away. Time and Price Action Suggest that Bank
Nifty has to sustain over 24025 area for further rally towards 24200-24425. On the flip side, sustaining below
24000-23982 area, Bank Nifty may fall towards 23920-23820 area in the near term.

Monday, 21 Aug 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9986

9820

9708

9682

9472

R2

R1

PP

S1

S2

11056

10262

9825

9430

8628

R2

R1

PP

S1

S2

11200

10153

9864

9398

8556

R2

R1

PP

S1

S2

24963

24653

24272

23968

23847

R2

R1

PP

S1

S2

27862

25465

24368

23203

20968

R2

R1

PP

S1

S2

28580

27592

24360

23232

20408

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9769

9825

9996

9856

BANK NIFTY

24490

24186

24169

24956

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9705

9520

9475

BANK NIFTY

23683

23167

23038

PATTERN FORMATION ( NIFTY )

Detail of Chart - Nifty is in the Positive note. The close above the mid Bollinger line is positive
in the short term, however the 34 DMA line presently at approx. 9840 may act as a strong
Resistance in the near term. Unless Nifty closes and sustains above the 34 hourly moving
average, market remains neutral to bearish in the hourly chart. The probable support in the hourly
chart comes at 20 hours moving average presently at approx. 9775, 61.8% retracement presently
at approx. 9712 and lower Bollinger line presently at approx. 9686. The probable resistance in the
hourly chart could be seen at 34 hour moving average presently at approx. 9836 and 50 hour
moving average presently at approx. 9903. The Nifty Index is Exepected to trade in bullish
movement in next week trading session..

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart- Bank Nifty was up side in the today’s trading session. In daily time, though
Bank Nifty is able to close above 50 DMA presently at approx. 24045 levels, it could not close
above the 5 day Low EMA presently at approx. 24198 levels which is still a concern for bulls and
may act as a resistance in the daily time frame. The market sentiment will turn bullish only if the
Index closes above 5 Day High EMA presently at approx. 24198 levels.

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

1

SCRIPT NAME

VEDANTA

//

PREV
CLOSE

CMP

279

298

% CHANGE

+ 6.92 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

APOLLO

1217

1068

- 12.24 %

HOSPITAL
INFOSYS

987

923

- 6.53 %

151

145

- 4.48 %

365

349

- 4.39 %

340

328

- 3.41 %

2

TECH MAHINDRA

402

428

+ 6.47 %

2

3

EICHER MOTORS

29627

31511

+ 6.36 %

3

4

TATA POWER

76

80

+ 4.90 %

4

5

TATA STEEL

596

625

+ 4.84 %

5

FORTIS
HEALTHCARE
SHEMAROO
ENTERTAIN
BIOCON LIMITED

6

INDIABULLS HSGFN

1149

1202

+ 4.57 %

6

J K CEMENT

1030

999

- 3.04 %

7

SUN PHARMA

450

470

+ 4.48 %

7

KWALITY

139

135

- 3.04 %

8

CIPLA LIMITED

541

565

+ 4.41 %

8

BOSCH LIMITED

22623

22034

- 2.60 %

9

AMBUJA CEMENT

263

274

+ 4.40 %

9

46

45

- 2.36 %

10

HINDUNILVR

1152

1202

+ 4.29 %

10

CORPORATION
BANK
DR. REDDY’S LABS

2011

1982

- 1.45 %

11

HINDALCO INDUS.

221

230

+ 4.10 %

11

YESBANK LIMTED

1739

1720

- 1.07 %

12

BHARAT PETRO

484

503

+ 3.92 %

12

KOTAK BANK

992

983

- 0.87 %

13

ITC LIMITED

271

281

+ 3.81 %

13

WIPRO LIMITED

289

288

- 0.55 %

14

HERO MOTOCORP

3840

3986

+ 3.80 %

14

SBIN

280

278

- 0.52 %

15

INDIAN OIL CORP

411

427

+ 3.78 %

15

ASIAN PAINTS

1143

1140

- 0.34 %

6
4
3
2
1
0
0

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK

Government to appoint advisors for stake sale in four PSUs soon - The government is in
advanced stage to appoint advisors for proposed strategic sales in state-run firms such as Scooters
India, BEML, Pawan Hans Ltd and Hindustan Prefab, to divest its entire or partial stakes to
private sector players, a senior official said. “In all cases we will soon appoint advisors who will
help to identify and select specialised professional intermediaries required for the transaction,”
the official said. The pursuance of strategic sale adds to the government’s reform policy, said a
finance ministry official. “We have a comprehensive strategy,” he said. “The focus is not on the
amount but to bring more professionalism in the newly listed firms and increase value for the
stakeholders.” The finance official said the government has initiated several economic reforms,
including the Bankruptcy Code, to help professionalise all these firms in different sectors. “We
expect that by 2022 these firms will already be extracting the full benefits of these reforms and
giving the investors unprecedented benefits,” he said.

Telecom’s share in NPAs a concern: Economic Survey - Reliance Jio’s entry with free voice and
data has led to a brutal price war in the telecom industry, hurting revenue and profitability of
incumbents amid ballooning debt, increasing the sector’s share of non-performing assets, which is
a cause for worry, the Economic Survey said. With introduction of Reliance Jio Infocomm on 5
September 2016, competition extended from cheaper calls to cheaper data,” the Economic Survey
Volume 2, released Friday, said. Jio's pricing scheme “forced incumbent telecom firms” to cut
voice call rates and cost of 1GB data to average $1.9 during January-March 2017, the survey
added. Adjusted gross revenue of the top three telecom companies in India - Bharti AirtelBSE
1.21 %, Vodafone India and Idea Cellular – fell sequentially by 7.98 per cent, 5.14 per cent and
4.91 per cent respectively in the third quarter of FY17.

Reserve Bank of India dividend to government halves to Rs 30,659 crore - The demonetisation
exercise has come with a cost to the government. The Reserve Bank of India will be transferring
to the government only Rs 30,659 crore, less than half the amount- Rs 65876 crore it transferred
to last year, implying lesser non-tax revenues to the government this year. The reduction in the
transfer of surplus to the government could be due to a number of factors including higher cost of
printing new currency notes and cost of managing excess liquidity generated from phasing out of
Rs 500 and Rs 1000 notes, though it is difficult to identify exact reasons at this stage. Operational
expenses in cost of printing new currency and the associated logistics of collecting old notes is
likely to have gone up ” said Saugata Bhattacharya, chief economist at Axis Bank. ” The cost of


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