Market Lens. September 27, 2016 NIFTY 8723 IN FOCUS. Institutional Equity Research STOCK IN FOCUS. Positional Pick. Intraday Picks

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1 EQUITY INDICES Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 28,294.3 (373.9) -1.3% 1.8% 8.3% CNX Nifty 8,723.1 (108.5) -1.2% 1.8% 9.8% S&P CNX 500 7,479.8 (75.1) -1.0% 2.0% 11.2% CNX IT INDEX 10,330.0 (61.0) -0.6% -1.8% -7.9% International Last Trade Change 1-D 1-Mth YTD DJIA 18,094.8 (166.6) -0.9% -1.6% 3.8% NASDAQ 5,257.5 (48.3) -0.9% 0.7% 5.0% NIKKEI 16,492.0 (52.6) -0.3% 0.8% -13.4% HANGSENG 23, % 2.3% 7.0% MSCI Emerging Mkts (12.0) -1.3% 0.5% 14.0% STOCK IN FOCUS Navkar Corporation closed ~1% higher outperforming the CNX Mid-cap index by ~2% The logistics sector is expected benefit immensely due to GST and the big opportunity will arise from the companies in remapping and realigning their supply chains. With GST being a destination tax, the entire old system of warehouse management will become redundant GST should lead to increased demand for ICDs, CFSs, Multimodal Logistics Parks and Container Trains. While Service Tax burden will rise, the industry should be able to pass the same to the trade keeping their margins intact We believe that while NCL s extant facilities would continue to deliver, the volume will also gain momentum from the new Vapi ICD albeit gradually We have a BUY recommendation on the stock with a Target Price of Rs248. (LTP: 772) BUY For today s trade, long position can be initiated at Rs765 for target of Rs802 with a strict stop loss of Rs745. ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy s Lab (ADR) 47.3 (0.6) -1.2% 4.0% 2.2% Tata Motors (ADR) 39.9 (1.2) -2.8% 2.9% 35.3% Infosys (ADR) 15.9 (0.1) -0.6% -0.2% -5.3% ICICI Bank (ADR) 7.8 (0.2) -2.0% 6.3% -0.3% HDFC Bank (ADR) % 2.2% 17.9% Axis Bank (GDR) 41.0 (0.8) -1.9% -6.4% 21.8% Reliance Ind (GDR) % 8.5% 8.0% COMMODITY MARKET Key Commodities Last Trade Change 1-D 1-Mth YTD Silver ($/Oz) 19.4 (0.0) -0.3% 4.0% 40.0% Gold ($/Oz) 1,335.6 (2.3) -0.2% 0.9% 25.9% Copper LME ($/MT) 4,819.3 (13.8) -0.3% 4.7% 2.4% Aluminium LME ($/MT) 1, % 1.2% 9.8% Baltic Dry (7.0) -0.7% 29.7% 95.4% CURRENCY RATES Last Trade Change 1-D 1-Mth YTD USD/INR % -0.7% 0.7% EUR/INR % -1.0% 3.9% RATES Last Trade Change 1-D 1-Mth YTD T-Bill - 91 D % -0.5% -8.8% 10 Year G-sec Yield % -4.8% -12.5% s (LTP: 257) BUY For today s trade, long position can be initiated at Rs252 for target of Rs266 with a strict stop loss of Rs246. Traders are advised to avoid early morning whipsaw. (LTP: 605) SELL For today s trade, short position can be initiated at Rs610 for target of Rs596 with a strict stop loss of Rs618. Traders are advised to avoid early morning whipsaw. INVESTMENT ACTIVITY (RS. CR) Category BUY SELL NET Prev FII 4, , DII 2, , EXCHANGE TURNOVER Exchange Rs Crore BSE Equity 3,435.2 BSE Derivatives NSE Equity 19,961.4 NSE Derivatives 4,85,

2 Technical Research MARKET SYNOPSIS Yesterday, NSE-NIFTY extended losses post gap down opening (24 points) and finally, ended the session nearing day s lower level-8,715 with cut of 109 points. NSE Cash segment has reported turnover of Rs19,961 crore as compared to Rs24,625 crore earlier. Overall market breadth remained negative, where 513 stocks advanced against 1092 declined stocks. Except Media (advanced marginally), negative trend was witnessed amongst all sectoral indices during the day, where Realty, Auto & Private Bank indices emerged as top losers with decrease of 2.4%-1.7%. NSE-NIFTY OUTLOOK NSE-NIFTY slipped to 9-day closing low with its second consecutive down tick, wherein weakness in global markets and selling across the board (except few Media counters) dragged index down. As mentioned earlier, we believe that index will either move sideways or witnessed some decline before registering fresh life-time-high, as (i) key technical indicators turned negative (iii) market breadth remained negative at this juncture is signaling the same. In case of major decline, index will find support around in 8,690-8,645 range, which coincides with prior swing low and its 50-days EMA respectively. However on the higher side, psychological mark-8,900 and then 9,000 will act as a hurdle. As for the day, support is placed around 8,690 and then at 8,645 levels, while resistance observed at 8,800 and then around 8,850 levels. 2

3 Technical Research : CMP: 772 RECO: BUY AT: 765 TARGET: 802 STOP LOSS: 745 Indraprath Gas Ltd reversed finding support around its 20-days EMA and later rose to 11-day high. Rise in key technical indicators-stochastic & RSI post their positive cross-over is signaling that stock will soon resume the uptrend and climb its all-time-high level. In case of any decline, stock will find support around Rs745, which is coinciding with one-week low & its 20-days EMA. Thus, for today s trade, long position can be initiated at Rs765 for the target of Rs802 with a strict stop loss of Rs745. 3

4 Derivatives Snapshot Domestic bourses ended yesterday s tradeon anegative note with NIFTY50 declining about 109 odd points at 8,723 mark. Sectorally, it was negative day of trade with Realty emerging as top loser down 2.4%. Broader market indices ended the session on a negative note with NIFTY 100,200 and 500 declining close to 1% each respectively. NiftySeptember futures ended with premiumof about 10point at 8,733 mark while on other hand, Bank NiftySeptemberfutures ended with the premiumof about 53points at 19,645mark. NIFTY 8800 Call and 8650Put for the current series witnessed maximum addition into the OI. Going forward, we believe NIFTY will now try to hold above 8500 on downside while at the same time, 8900 will remain a key hurdle for the index. BANK NIFTY Call and19400put for the current series witnessed maximum addition into the OI. Based on option data, for the current series, index has good base around while at the same time, on upside, is highly probable. Sectoral Activity: Amongst sectoral index, Nifty Pvt Banks adds short position. Stock Activity: Century Tex observed build up in long position. TOP 5 PRICE GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance WOCKHARDT LIMITED % 195.7% -4.2% BHARAT PETROLEUM CORP LT % 51.8% 3.6% HINDUSTAN PETROLEUM CORP % 20.4% -4.6% UNITED BREWERIES LTD % 37.2% 6.0% CENTURY TEXTILES LTD % 10.4% 13.9% TOP 5 PRICE LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance IFCI LTD % 10.6% 5.5% OIL AND NATURAL GAS CORP % 83.3% 8.0% JUBILANT FOODWORKS LTD % -25.6% 10.3% TATA MOTORS LIMITED % 41.7% 2.5% ICICI BANK LTD % -11.7% 5.0% TOP 5 OI GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance CENTURY TEXTILES LTD % 10.4% 13.9% NHPC LTD % -25.5% 13.0% TITAN COMPANY LIMITED % -33.4% 10.8% RELIANCE INFRASTRUCTU LTD % -6.3% 10.3% JUBILANT FOODWORKS LTD % -25.6% 10.3% TOP 5 OI LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance DLF LIMITED % -45.1% -9.9% BHARAT ELECTRONICS LTD % 2.1% -9.9% CEAT LIMITED % -42.8% -9.1% HINDUSTAN ZINC LIMITED % -51.4% -7.4% RELIANCE CAPITAL LTD % -32.7% -7.3%

5 Derivatives Snapshot TOP 5 RISE IN % DEL CHG Stock Name LTP % Price Chg % Vol Chg % Del Chg Support Pivot Resistance STRIDES ARCOLAB LIMITED % 59.9% 334.0% TATA MOTORS DVR A ORD % 160.0% 221.0% ITC LTD % 95.6% 169.5% WOCKHARDT LIMITED % 195.7% 126.4% RELIANCE COMMUNICATIONS L % 71.2% 110.3% TOP 5 DECLINE IN % DEL CHG Stock Name LTP % Price Chg % Vol Chg % Del Chg Support Pivot Resistance SHRIRAM TRANSPORT FIN CO % -66.4% -79.8% EXIDE INDUSTRIES LTD % -52.0% -77.7% KOTAK MAHINDRA BANK LTD % -73.3% -77.4% APOLLO TYRES LTD % -52.2% -76.9% M&M FIN. SERVICES LTD % -58.5% -75.8% SECTORAL ACTIVITY Value Average of OI Average of Price Total Average of Total OI Change % Change % Volume Volume Change % Consumer Discretionary % -0.7% % Consumer Staples % -1.3% % Energy % 0.1% % Financials % -1.2% % Health Care % 0.0% % Industrials % -1.3% % Information Technology % -1.1% % Materials % -0.3% % Telecommunication Services % -1.7% % Utilities % -1.3% % Grand Total % -0.9% % 5

6 Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 Nifty Nifty IT Nifty Bank ACC LIMITED ADANI PORT & SEZ LTD AMBUJA CEMENTS LTD ASIAN PAINTS LIMITED AUROBINDO PHARMA LTD AXIS BANK LIMITED BAJAJ AUTO LIMITED BANK OF BARODA BHARTI AIRTEL LIMITED BHEL BOSCH LIMITED BHARAT PETROLEUM CORP LT LTD COAL INDIA LTD DR. REDDY S LABORATORIES EICHER MOTORS LTD GAIL (INDIA) LTD GRASIM INDUSTRIES LTD HCL TECHNOLOGIES LTD HDFC LTD HDFC BANK LTD HERO MOTOCORP LIMITED HINDALCO INDUSTRIES LTD HINDUSTAN UNILEVER LTD ICICI BANK LTD IDEA CELLULAR LIMITED INDUSIND BANK LIMITED BHARTI INFRATEL LTD INFOSYS LIMITED ITC LTD KOTAK MAHINDRA BANK LTD LARSEN & TOUBRO LTD LUPIN LIMITED MAHINDRA & MAHINDRA LTD MARUTI SUZUKI INDIA LTD NTPC LTD OIL AND NATURAL GAS CORP POWER GRID CORP. LTD RELIANCE INDUSTRIES LTD STATE BANK OF INDIA SUN PHARMACEUTICALS IND TATA MOTORS LIMITED TATA MOTORS DVR A ORD TATA POWER CO LTD TATA STEEL LIMITED TATA CONSULTANCY SERV LT TECH MAHINDRA LIMITED ULTRATECH CEMENT LIMITED WIPRO LTD YES BANK LIMITED ZEE ENTERTAINMENT ENT LTD

7 Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price ** AADHAARVEN VENERA PROPERTY PRIVATE LIMITED B 10,000, AADHAARVEN NUGGET STEEL TRADING PVT LITD S 10,000, ABHIINFRA MEGHA MAHESH KHANDELWAL S 17, ABHIINFRA MEGHA MAHESH KHANDELWAL B 21, ABHIINFRA MAHESH OMPRAKASH KHANDELWAL S 31, ABHIINFRA MAHESH OMPRAKASH KHANDELWAL B 36, AFEL AMIT MAHESH BHATT S 22, AIRL JIMIT PRAFULBHAI SHAH S 30, AIRL SRINAGESH B 50, ARNOLD RAUDRAMUKHI COMMERCE PRIVATE LIMITED S 249, ARNOLD GAURAV SETHI B 250, ASHCAP DAXABEN S SHAH S 265, ASHCAP DAXABEN S SHAH B 13, ASITCFIN TRUPTI KETAN KARANI B 69, ASITCFIN CHARU S SHAH S 81, BAJAJHCARE ARYAMAN BROKING LIMITED S 39, CONCORD RAVALI GOPIDI RAVALI GOPIDI RAVALI GOPIDI S 40, CROMPGREAV HSBC GLOBAL INVESTMENT FU NDS MAURITIUS LTD S 4,440, CROMPGREAV HSBC GLOBAL INVESTMENT FUNDS INDIAN EQUITY B 4,440, CROMPTON HSBC GLOBAL INVESTMENT FU NDS MAURITIUS LTD S 6,659, CROMPTON HSBC GLOBAL INVESTMENT FUNDS INDIAN EQUITY B 6,659, JAYUSH PANCHMUKHI MANAGEMENT SERVICES PVT LTD B 20, JAYUSH COMMITMENT FINANCE LIMITED S 20, MINDACORP MINDA CAPITAL LIMITED B 5,300, MINDACORP ASHOK MINDA B 1,966, MINDACORP KOTAK INDIA PRIVATE EQUITY FUND S 2,418, MINDACORP KOTAK INDIA GROWTH FUND II S 9,584, MINDACORP MINDA S M TECHNOCAST PVT. LTD. B 2,950, NHCFOODS AMIT GAUTAM KAWDE S 80, NHCFOODS AMIT GAUTAM KAWDE B 80, SAMRATPH PARIKSHIT K NOTARIA B 20, SAMRATPH PRAKASH PRAKASH S 19, SMFIL MICRO ABRASIVES INDIA PRIVATE LIMITED S 5, SMFIL MICRO ABRASIVES INDIA PRIVATE LIMITED B 1,505, SUPER LAKSHMI MACHINE WORKS LIMITED B 150, SUPER GAGANDEEP CREDIT CAPITAL PRIVATE LIMITED S 150, SURYAMARK PARASMAL DOSHI S 250, SYBLY CCL INTERNATIONAL LIMITED S 1,000, SYBLY DINESH SHAH S 1,232, SYBLY DINESH SHAH B 1,234, SYBLY VINOD KUMAR HUF B 250, SYBLY ANKUR TUKARAM MAYEKAR S 669, SYBLY ANKUR TUKARAM MAYEKAR B 669, SYBLY AMIT GAUTAM KAWDE S 301, SYBLY AMIT GAUTAM KAWDE B 301, SYBLY SECUROCROP SECURITIES INDIA PRIVATE LIMTED B 250, *B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 7

8 Monthly Economic Calendar Date Country Event Period Prior 29-Sep-16 US Initial Jobless Claims 24-Sep Sep-16 US GDP Annualized QoQ 2Q T 1.1% 30-Sep-16 JN Jobless Rate Aug 3.0% 30-Sep-16 JN Industrial Production MoM Aug P Sep-16 HK Retail Sales Value YoY Aug -7.7% 30-Sep-16 UK GDP QoQ 2Q F 0.6% 30-Sep-16 UK GDP YoY 2Q F 2.2% 30-Sep-16 IN Fiscal Deficit INR Crore Aug -- 8

9 Corporate Actions Ex-Dividend Company Name Ex-Date Purpose Agro Dutch Industries Limited 27-Sep-16 Annual General Meeting Atlas Cycles (Haryana) Limited 27-Sep-16 Annual General Meeting Namaste Exports Limited 27-Sep-16 Annual General Meeting National Aluminium Company Limited 27-Sep-16 Dividend - Re 0.75 Per Share Rajvir Industries Limited 27-Sep-16 Annual General Meeting Sujana Metal Products Limited 27-Sep-16 Annual General Meeting Sujana Tower Limited 27-Sep-16 Annual General Meeting Sujana Universal Industries Limited 27-Sep-16 Annual General Meeting BF Investment Limited 28-Sep-16 Annual General Meeting BF Utilities Limited 28-Sep-16 Annual General Meeting Gammon Infrastructure Projects Limited 28-Sep-16 Annual General Meeting Rural Electrification Corporation Limited 28-Sep-16 Bonus 1:1 9

10 Result Calendar Company Name Board Meeting Date Purpose United Breweries (Holdings) Limited 28-Sep-16 Results Prime Securities Limited 04-Oct-16 Results Goa Carbon Limited 06-Oct-16 Results/Others GM Breweries Limited 06-Oct-16 Results Gruh Finance Limited 10-Oct-16 Results Infosys Limited 14-Oct-16 Results/Dividend Nucleus Software Exports Limited 20-Oct-16 Results Persistent Systems Limited 21-Oct-16 Results GHCL Limited 21-Oct-16 Results Rane Engine Valve Limited 21-Oct-16 Results Rane (Madras) Limited 24-Oct-16 Results Rane Brake Lining Limited 25-Oct-16 Results Axis Bank Limited 25-Oct-16 Results HDFC Bank Limited 25-Oct-16 Results Mahindra Lifespace Developers Limited 27-Oct-16 Results Automotive Stampings and Assemblies Limited 28-Oct-16 Results JK Cement Limited 29-Oct-16 Results Rane Holdings Limited 10-Nov-16 Results 10

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