IFIN s Morning Mirror

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1 Markets: Quick Notes The National Stock Exchange index Nifty traded below crucial 5,6 mark level by falling points, or 1.1 per cent to 5, The 3-share Sensex closed 162 points, or.88 per cent, lower at 18, ICICI BankBSE % lead the 24 losers in 3-share Sensex, followed by Tata MotorsBSE %, SBIBSE %, BhelBSE %, MarutiBSE % and HDFCBSE %."At 7.45 per cent inflation is certainly quite high," RBI Governor D Subbarao told reporters on the sidelines of a function in Pune, adding the central bankbse % is always on "high alert" on the inflation front. The important economic agenda for the session includes amendment to the Insurance Bill to raise FDI cap from 26 to 49 per cent, Banking Regulation Amendment Bill and Direct Taxes Code. Nifty F&O Statistics: 15th Nov 16th Nov % Change Spot % Futures (Nov) % Dist / Prem Open Interest (OI) % PC Ratio (OI) Nifty vs. Institutional Activity (Rs` Mn) (2) (4) (6) Provisional Figures for Investments Nov 5-Nov 6-Nov 7-Nov 8-Nov 9-Nov NSE - Advance/Decline Number of Shares 2, ,6 1, Nov2-Nov5-Nov6-Nov7-Nov8-Nov Advance (LHS) Decline (LHS) Adv/Decl Ratio (RHS) Fund Activity FII (LHS) MF (LHS) Nifty (RHS) Net Inflows (Provisional Figures) (Rs. Crores) Purchases Sales Net 16-Nov-212 FIIs DIIs FII- Derivatives Today s Economic Events India Source: SEBI Source: NSE Live Markets As on 7.3 hours IST Nil Shanghai Nikkei SGX Nifty Hang Seng Current Quote % Change.24% 1.41%.27%.47% Global Nil Source: Bloomberg 1

2 Business News Turnover - NSE Max Life Insurance H1 profit before tax up 6% to Rs 398 crore: Max Life Insurance posted 6% growth in net profit before tax of Rs 398 crore. The gross revenue remained flat at Rs. 2,91 crore. The company's assets under management increased 3% to Rs 19,184 crore over last year and sum assured that touched Rs.158,54 crore, an increase of 7%.The company Nov 2-Nov 5-Nov 6-Nov 7-Nov 8-Nov Nifty (LHS) Nse Cash Volume (RHS) (Rs bn) announced the maiden shareholders' dividend entailing distribution of Rs 115 crore, based on the performance of the company during the first half of the Financial Year Post dividend the Company has the solvency margin of 554%, which clearly indicates its strong and stable financial position. The market share among private life insurers at 9.5% on Adjusted Individual FYP. Records 3% growth in AUM to Rs. 19,184 crore. Solvency Margin 554% post its maiden shareholders' interim dividend. Top Five S&P CNX Nifty Gainers: SYMBOL CLOSE PRICE PREV.CLOSE %CHANGE BHARTIARTL INFY DRREDDY ONGC JINDALSTEL Top Five S&P CNX Nifty Losers: SYMBOL CLOSE PRICE PREV.CLOSE %CHANGE IDFC DLF PNB TATAMOTORS ICICIBANK Volume Toppers: VALUE(Rs Crs) MCDOWELL- N TATACOFFEE INFY SBIN BHARTIARTL RELIANCE ICICIBANK AXISBANK L&TFH LT 2

3 Economic Update India & Global Record-Low Mortgage Rates May Lift Housing: U.S. Economy Preview: The lowest mortgage rates on record probably helped keep sales of previously owned U.S. homes close to a two-year high in October, and underpinned construction of new residences, economists said before two reports this week. Purchases of existing dwellings held at a 4.75 million annual rate last month, according to the median forecast in a Bloomberg survey before tomorrow s report from the National Association of Realtors. Housing starts eased in October to an 84, pace from a four-year high of 872, units in September, Commerce Department figures may show Nov. 2. Demand for residential real estate is also being propelled by more affordable properties, progress in the labor market and improving consumer sentiment. The data underscore what Federal Reserve Chairman Ben S. Bernanke called signs of improvement in the market, which is helping fuel the expansion as manufacturing cools. Housing has definitely become a bright spot in the economy, while all the international-facing sectors are doing much worse, said Yelena Shulyatyeva, U.S. economist at BNP Paribas in New York. Existing-home sales have improved after reaching a 3.39 million annual rate in July 21, the lowest since comparable records began in In the buildup to the subprime lending collapse and recession, purchases reached a peak of 7.25 million in September 25. Source: Bloomberg, Economic times, Business standard, Mint, DNA Money, Business Line Source: Bloomberg 3

4 Technical Corner NIFTY Key Statistics Turnover in Cr. %Change Momentum Moving Average Bollinger Band Day RSI day EMA 5667 B. Upper 577 India VIX % Change MACD day EMA 567 B. Lower % Stoch day EMA 5367 Band Width.3 Weekly Chart Technical View Intraday Market Outlook: NIFTY may open flat to positive and it would remain rangebound between 5615 and 556 levels. Breakout of either level would invite an intraday trend. On the higher side, the NIFTY has resistance at 563 and 564 levels. On the lower side it has support at 5545 and 552 levels. Close R1 R2 R3 S1 S2 S BANKNIFTY Nov Future Weekly Chart: Technical View For the day, On the lower side, BankNifty has support at 1127 and 1121 levels. If Banknifty trades below 1121 futher selling pressure can be expected and then 1114 is possible. Banknifty has resistance at 1142 and 1148 levels. Close R1 R2 R3 S1 S2 S

5 Day Trading Guide Pivot Point (Equity) Scrip Name Close R2 R1 PP S1 S2 ABB ACC AMBUJACEM AXISBANK BHARTIARTL BHEL BPCL BAJAJ-AUTO CAIRN CIPLA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDEA IDFC INFY ITC JINDALSTEL JISLJALEQS JPASSOCIAT JPPOWER JSWSTEEL KFA KOTAKBANK KSOILS LICHSGFIN LITL LT LUPIN MCDOWELL-N MCLEODRUSS MRF MOSERBAER MPHASIS Scrip Name Close R2 R1 PP S1 S2 M&M MARUTI NATIONALUM NEYVELILIG NTPC ONGC PNB POWERGRID RANBAXY RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SCI SESAGOA SAIL SBIN SIEMENS SOBHA STER SUNPHARMA SINTEX SUNTV SUZLON TATAMOTORS TATAPOWER TATACOMM TATASTEEL TCS TECHM TITAN TRIVENI TTML TULIP TNPL UCOBANK UNIONBANK UNIPHOS UNITECH WELCORP PP Pivot Point, R1 Resistance1, S1 Support, R2 Resistance2, S2 Support2: How to trade Pivot points: If the stock opens above PP then go Long and Keep S1 as the stop loss for a possible target of R1/R2. If the stock opens below PP then go short and Keep R1 as the stop loss for a possible target of S1/S2. 5

6 RESEARCH TEAM Devarajan. S Technical & Derivative Strategist devarajan@ifinltd.in Arun. V Research Analyst arun@ifinltd.in IFIN Reports are also available on the Bloomberg (IFCI <GO>) Disclaimer This document has been prepared by the Technical Research Department of IFIN and is meant for use by the recipient only as information and is not for circulation. All information/opinion contained/expressed herein above by IFIN has been based upon information available to the public and the sources, we believe, to be reliable, but we do not make any representation or warranty as to its accuracy, completeness or correctness. Neither IFIN nor any of its employees shall be in any way responsible for the contents. This document is for general information purposes only and does not constitute an investment advice or an offer to sell or solicitation of an offer to buy / sell any security and is not intended for distribution in countries where distribution of such material is subject to any licensing, registration or other legal requirements. This document does not have regard to the specific investment objective, financial situation and the particular needs of any specific person who may receive this document. The investment may not be suited to all the categories of investors. The recipients should therefore obtain your own professional, legal, tax and financial advice and assessment of their risk profile and financial condition before considering any decision. This document is for the information of the addressees only and is not to be taken in substitution for the exercise of judgment by the addressees. All information contained herein above must be construed solely as statements of opinion of IFin at a particular point of time based on the information as mentioned above and IFIN shall not be liable for any losses incurred by users from any use of this publication or its contents. The Disclosures of Interest Statement incorporated in this document is provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the document. The views and opinions expressed herein by the author in the document are his own and do not reflect the views of IFCI Financial Services Limited (IFIN) or any of its associate or group companies. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. Past performance is no guarantee and does not indicate or guide to future performance. IFCI Financial Services Limited (IFIN), its associate and group companies, its directors, associates, employees from time to time may have various interests/ positions in any of the securities of the Company(ies) mentioned therein or be engaged in any other transactions involving such securities or otherwise in other securities of the companies / organization mentioned in the document or may have other potential conflict of interest with respect of any recommendation and / related information and opinions. IFCI Financial Services Ltd Continental Chambers I 142, M G Road I Nungambakkam I Chennai 6 34 I Tel: