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Equity Research Report 04 September 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Indian Benchmark Index Nifty closed in green after consecutive 4 days of negative
close In last week. The Index moved up by 74 points and closed at 9852. Nifty opened at 9803 and made a low
of 9787. Metals & Minnig remained the top performing sector. Indian Benchmark Index Nifty gave a lackluster
movement ahead of 3 days holiday on Ganesh Chaturthi and Weekend. The index closed 9857 after making
low of 9849; Nifty made a high of 9882 and opened at 9881. Indian Benchmark Index Nifty opened at 9886
and closed at 9794 after making low of 9784. The Index ended 117 points lower from its previous close of
9912. The Sell Off pressure was generated on rising geopolitical concern from North Korea. North Korea fired
a missile that flew over Japan, however the execution did not cost any sort of loss to mankind and property.
The 40 companies has been sent to National Company law Tribunal as these companies loans turned to NPA
since 2016. Indian Benchmark Index Nifty rallied for the second day and closed at 9917, 33 points above its
wednesday’s close of 9884. The Index opened at 9906 and made a high 9925. The Index has closed above its
week one high of 9884, immediate target for the Index is at 9948 which is a two week high of Nifty. The Indian
gross domestic product GDP grew 5.7 percent in April-June, badly lower than last years 7.9 percent expansion
in the same quarter where in previous quarters 6.1 percent growth, this signals that India is still under the
pressure of demonetisation and GSTs effect on business. Time & Price action suggests that, The Nifty has to
sustain over 9980 area for further rally towards 10030-10075. On the flip side, sustaining below 9960 area,
Nifty may fall towards 9905-9800- 9750 area in the short term .

BANK NIFTY : - Bank Nifty too gave a lackluster movement and closed at 24274 after making a low of
24225. Canara Bank up by 1.5%, Bank Baroda zoomed by 1.35% and SBI moved up by 1.20%. Bank Nifty
closed at 24317 after making a high of 24350, the Index opened at 24085 and made a low of 24074. PNB Bank
rose 3.33%, Canara Bank jumped 2.60%, IDFC Bank moved up by 2.20%. Bank Nifty opened at 24351 and
closed at 24377 after making a low of 24301. The index was up by 103 points from its previous close of 24274.
Bank Nifty opened at 24253 and closed at 24309 after making a low of 24241. The Index was up by 180 points
from its previous close of 24129. Bank Nifty opened around its 5 High DMA 24355 approx the 31st of August.
The Index traded in a narrow range of 147 points throughout the day and closed marginally above the 5 DMA
of 24281 approx. Public sector banks have taken loan recovery action under Sarfaesi law against 5,954 wilful
defaulters owing about Rs 70,000 crore to the lenders. At the end of March 31, 2017, 21 banks together have
taken action against 5,954 wilful defaulter under Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, as per data collated by the Finance Ministry.Bank Nifty has to sustain
over 24400 area for further rally towards 24525-24575 & 24675- 24775. On the flip side, sustaining below
24350 area, Bank may fall towards 24200-24000 & 23850-23700 area in the near term.

Monday, 4 Sep 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10177

10029

9955

9881

9733

R2

R1

PP

S1

S2

10513

10113

9913

9713

9313

R2

R1

PP

S1

S2

10174

10028

9955

9882

9736

R2

R1

PP

S1

S2

24940

24590

24415

24240

23890

R2

R1

PP

S1

S2

25516

24734

24343

23952

23170

R2

R1

PP

S1

S2

24931

24587

24415

24243

23899

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9881

9813

9616

9271

BANK NIFTY

24294

24046

23329

22045

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9733

9751

9480

BANK NIFTY

23980

23756

22382

PATTERN FORMATION ( NIFTY )

Detail of Chart - Nifty breaks out of the Symmetrical triangle in the last hour, however it
couldn’t breach the important 200 Hourly moving average at approx. 9924, which acted as a
strong Resistance in the hourly chart.There is a possibility that Nifty may see some consolidation
in the coming days. This is the third time in the last 20 days that Nifty couldn’t breach 200
Hourly moving average at approx. 9924. Price movement in any direction will decide Nifty’s
move in the coming days. So this is an important level to watch out for. On the upside, Nifty may
face resistance at 200 Hourly Moving Average at approx. 9986, 61.8% retracement at approx.
9965 and 78.6% retracement at approx. 10041 of the down move from approx. 10137.9 to approx.
9687.5. The probable support in the hourly chart comes at 20 Hour Moving Average at approx.
9868) and 100 Hour moving average at approx. 9841.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -Bank Nifty opened around its 5 High DMA 24355 approx the 31st of August.
The Index traded in a narrow range of 147 points throughout the day and closed marginally above
the 5 DMA of around 24281. In the Hourly Chart, Bank Nifty has closed around its 5 Hour High
EMA of 24315 around. The Index is likely to face immediate Resistance around the 5 Hour High
EMA 24348 around mark. Bank Nifty has to close convincingly above 24379 for the Bulls to
retain the stakes in their favor.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1834
398

1816
394

1796
390

1782
386

1774
382

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

284
1288
512
2989
142
542
458
432
22386
392
582
244
2254
390
1243
886
1780
1786
4052
266
1228
304
286
1698
928
1238
1012
1156
1380
65789
7876
162
170
24
890
1662
536
41
282
498
236
2530
396
81
658
140
1788
529
398
284

282
1246
508
2878
140
536
448
428
21993
386
576
241
2228
386
1222
874
1766
1782
4018
248
1220
302
282
1686
920
1230
998
1142
1364
65078
7814
160
168
24
862
1628
528
41
280
486
230
2510
392
81
650
139
1756
523
394
282

279
1204
506
2766
138
528
432
422
21812
382
572
239
2201
382
1206
872
1756
1774
3989
238
1196
298
280
1672
916
1224
986
1134
1345
64896
7784
158
166
24
840
1600
516
40
278
472
224
2494
388
80
644
138
1728
517
390
279

276
1186
504
2707
136
520
428
418
21428
378
568
237
2185
376
1186
868
1743
1762
3965
232
1190
294
278
1664
912
1216
980
1126
1338
63745
7724
156
164
23
818
1588
510
40
276
466
220
2472
382
79
636
137
1712
513
386
276

272
1172
498
2694
134
516
426
416
21389
374
564
235
2167
370
1172
862
1734
1750
3896
224
1184
290
275
1658
908
1198
972
1120
1326
62180
7628
154
162
23
796
1542
502
39
274
461
216
2430
372
78
630
136
1700
509
382
272

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

//

PREV
CLOSE

CMP

% CHANGE

1

DR. REDDY’S LABS

2020

2217

+ 9.73 %

2

AURO PHARMA

725

758

+ 4.60 %

3

ASIAN PAINTS

1168

1215

+ 4.05 %

4

TATA MOTORS

376

390

+ 3.80 %

5

BAJAJ AUTO

2814

2916

+ 3.62 %

6

HINDALCO INDUS

238

243

+ 2.42 %

7

INDUSIND BANK

1656

1692

+ 2.14 %

8

TATA STEEL

638

651

+ 2.06 %

9

VEDANTA

308

314

+ 1.96 %

10

ONGC

156

159

+ 1.91 %

11

KOTAK BANK

976

992

+ 1.70 %

12

LUPIN LIMITED

979

995

+ 1.64 %

13

BHARAT PETRO

529

537

+ 1.59 %

14

GAIL LIMITED

378

384

+ 1.55 %

15

MARUTI SUZUKI

7700

7812

+ 1.45 %

+

+

+

+

+

+

+

TOP 15 LOOSERS

SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

INFIBEAM INCORP

1435

143

- 90.01 %

2

PRAKASH INDUS

125

118

- 5.11 %

3

BANK OF BARODA

142

138

- 3.22 %

4

KWALITY

147

143

- 2.88 %

5

BHARTI AIRTEL

432

422

- 2.40 %

6

POWERGRI CORP

220

216

- 2.01 %

7

M&M LIMITED

1375

1347

- 2.00 %

8

TCS

2496

2456

- 1.61 %

9

COALIND LTD

241

238

- 1.10 %

10

BHARTI INFRATEL

383

379

- 1.09 %

11

TECH MAHINDRA

427

423

- 1.01 %

12

CIPLA LIMITED

574

568

- 0.98 %

13

SBIN

280

277

- 0.87 %

14

NTPC

169

168

- 0.44 %

15

HCL TECH

867

865

- 0.20 %

5
2
2
1
1
0
0

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Economics for Everyone: Purchasing Managers' Index - The Purchasing Managers' Index is
an indicator of the economic health of the manufacturing sector. The PMI is based on five major
indicators: new orders, inventory levels, production, supplier deliveries and the employment
environment. The purpose of the PMI is to provide information about current business conditions
to company decision makers, analysts and purchasing managers. Purchasing Managers Indexes
are economic indicators derived from monthly surveys of private sector companies. The data for
the index are collected through a survey of 400 purchasing managers in the manufacturing sector
on different fields, namely, production level, new orders from customers, speed of supplier
deliveries, inventories, order backlogs and employment level. Respondents can report better,
same or worse conditions than previous months. For all these fields the percentage of respondents
that reported better conditions than the previous months is calculated. The percentages are
multiplied by a weighing factor and are added.
FDI flows into India to rise to 2.5% of GDP in 5 years: UBS - : FDI inflows into the country is
likely to rise to 2.5 per cent of GDP over the next five years, helped by economic growth and
ongoing structural reforms, said a report by UBS Securities India. The foreign direct investments
into India have nearly doubled over the past decade to USD 42 billion, which was 1.9 per cent of
GDP in 2016-17. "Post 2014 general election, FDI inflows saw a compound annual growth rate of
11 per cent versus a dip of 6 per cent seen over the previous 5 years," UBS said. "We expect FDI
inflows to India to rise further to 2.5 per cent of GDP over the next 5 years," added the foreign
brokerage. UBS noted that unlike China, where the government has phased out FDI-favoured
policies, India will be increasingly recognised as a favoured destination by overseas investors "if
growth is accompanied with continuous structural reforms". Interestingly, the report said that over
the last couple of years, India has recorded a pickup in FDI inflows to the manufacturing sector.
Historically such investments have been more towards the service sector.
Fiscal deficit touches 92.4 per cent of budget estimates at July-end - India’s fiscal deficit in
July end came at Rs 5.05 lakh crore or 92.4% of the budgetary estimates for 2017-18 as against
73.7% in the corresponding period last fiscal. For this fiscal, the government has set a target of
3.2% of the GDP. The fiscal deficit is the gap between expenditure and revenue, which for the
whole fiscal has been pegged at Rs 5.46 lakh crore. Experts point out that the increase in
government’s expenditure is mostly due to the early presentation of the budget and subsequent
front-loading.The government’s capital expenditure rose by a robust 33% in the first four months
of this fiscal. Moreover, major subsidies are estimated to have grown by 30% in the same time


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