Daily Research Reports

Transcription

1 You will enjoy all the comforts of financial world when you alight with us. Comfort Securities Limited Daily Research Reports Disclosures and Disclaimer : This report must be read with the disclosures in the Disclosure appendix, and with the Disclaimer, which forms part of it. This document does not contain any investment views or opinions.

2 Comfort Securities Limited Thursday 26th July, 2018 Welcome Note Welcome to Comfort Securities Ltd. Comfort Flows From WISDOM The world out there is uncertain. On this backdrop, the market volatility is bound to increase. Believe us, even the big investors sentiment will oscillate and that is why it is important for us to safely navigate these difficult times. To do so, Comfort Securities Ltd. brings you this daily market commentary which will help you to sharpen your instincts on investments in equity markets, gold, silver, crude-oil, USD/INR, the Dow Jones index, Hang Seng index, Euro-Dollar, etc. On the next few pages, you can learn more about the same. We would love to answer any further questions you may have in a one-one discussion. We are pleased to inform you that this report features contributions from the finest analytical minds in the business and are distinguished by our proactive consulting approach, timely advice, and specific recommendations. We take satisfaction in seeing clients realize their dreams. The Comfort Securities team would like to take this opportunity to thank our readers for their support and feedback over the years. We hope you enjoyed reading this daily newsletter. Above all, we wish that this experience is both professionally and personally rewarding. If you have any queries please do contact me or any member of Comfort Securities Ltd. team and we would be glad to assist. Best Regards, Comfort Securities Ltd. Call Us: Tel:

3 CONTENTS CONTENTS Title Page No. '30,000 feet view : The big picture of Dalal Street Stock Of The Day: (F & O) '30,000 feet view : The big picture of Dalal Street Stock Of The Day: (F & O) Equity Derivatives 10 Daily Pivot Table (Equities) 11 Forecast and Analysis Forecast and Analysis Daily Pivot Table (Commodities) 15 Disclaimer 16

4 30,000 feet view : The big picture of Dalal Street '30,000 feet view : newsletter provides insights and themes for Indian equity markets. We also try and cover international themes for the day. This newsletter is quite popular with traders as it covers the most preferred trading strategy for Sensex/Nifty for the day. In Chart of the day section, we recommend a stock which is likely to move significantly in the short term, clearly defining the supports, the resistances and bias for the stock. In a nutshell, '30,000 feet view : covers themes and insights for the day.

5 30,000 feet view : The big picture of Dalal Street Good Morning & Welcome to Thursday s trading action at Dalal Street, dated 26th July Get your Nifty all-time-high hat ready! Well, judging by early action at SGX Nifty, it looks like the bulls are in total charge according to momentum analysis and it s most likely that Nifty will trade above the magical 11,172 mark. The technical landscape for the benchmark Nifty is signaling a break out. The Call Options Data too suggests that Nifty faces major hurdles at 11,200 as maximum call open interest (OI) of lakh contracts was seen at the 11,200 strike price; followed by the 11,300 strike price. Our call of the day suggests on backdrop of short covering as primary theme, Dalal Street will have its best day of this week -- one of its best ever -- and most importantly, a joyful rally on cards. Having said that, expect a volatile trading session, as traders will roll over positions in the F&O segment from the near month July 2018 series to August 2018 series. The July 2018 F&O contracts expires today. What Technical Tells Us on Nifty: Nifty ended Wednesday s session almost uunchanged, down 0.02% at 11,132. The positive takeaway was that the market breadth, indicating the overall health of the market, was strong. The BSE Mid-Cap index fell 0.12%, underperforming the Sensex while the BSE Small-Cap index rose 0.23%, outperforming the Sensex. Technically speaking, Nifty s biggest hurdles are at its all-time-high at 11,172. The must watch support levels are placed at & then at The technical landscape will worsen only if Nifty slips below the 10,751 mark as that would open the door to massive technical selling, possibly quickly to the 10,551-10,575 zone. Amidst yesterday s positive close, the bias on Nifty continues to be positive. Having said that, aggressive buying advised only on any sharp corrective declines. For the day, we believe, Nifty may most likely to trade with positive bias and the benchmark most probably will aim to close above its all-time-high at 11,172 mark. Meanwhile, the price action for Nifty is suggesting that we are likely to see a 10,901-11,375 range in near term with positive bias. INDICES Nifty Bank Nifty Nifty Auto Index Nifty FMCG Index Nifty Infra Index Nifty IT Index Nifty Media Index Nifty Midcap Index Nifty Metal Index Nifty Pharma Index Nifty Reality Index Nifty Smallcap Index Sensex SGX Nifty % 0.21% -0.47% -0.20% -0.89% -0.60% -1.19% -0.16% 0.89% -0.88% -1.40% 0.39% 0.09% 0.12% Outlook for the Day Nifty will aim to close above all-time-high. Nifty Outlook Intraday Positive ( ) Medium Term Neutral ( ) Long Term Neutral (12001) Outlook for Thursday: Nifty likely to close at uncharted territory. Judging by early action at SGX Nifty, it s likely that the benchmark Nifty will have a positive trading session. Technically, fresh major buying appetite only above 11,175 mark. Global cues: Wall Street was seen trading mixed in yesterday s trade as focus was primiraly on a key meeting between U.S. President Donald Trump and European Commission President Jean-Claude Juncker. Worldwide stock markets are hoping for a truce in the trade tensions. Key Levels to Watch Nifty Support & Nifty Resistance & Pivot Level Nifty 10751

6 30,000 feet view : The big picture of Dalal Street Commodity Cues: In commodities, oil prices were trading sideways as rising tension between the United States and Iran highlighted risks to supply while escalating trade disputes raised the prospect of slower economic growth and perhaps weaker energy demand. Gold futures traded firm after comments from President Donald Trump on U.S. interest rates and the dollar that weighed heavily on greenback. Copper prices too were trading firm in Wednesday s trade, attempting to rebound from its lowest level in a year. Currencies & Bonds: In Wednesday s trade, the US Dollar index was seen consolidating after getting pummeled on Friday after President Donald Trump accused China and the European Union of currency and interest-rate manipulation that he says has put the U.S. at a disadvantage. USD/INR was seen consolidating in Wednesday s trade. Key interweek support seen at Hurdles now seen at Intraday Strategy: Sell at CMP, targeting and then aggressive targets at zone with stop ABOVE Macro Watch: All anxious eyes will also be on the progress on monsoon. The street will also keep a close eye on the movement of Indian Rupee and the Crude-Oil prices as that could influence investors sentiment. Amongst macro data, the street will brace for the announcement of the GDP data for the second quarter will be released on Friday. Recent US Federal Reserve minutes highlighted that the US economy continued to look strong. Economists predict GDP expanded at a 4.2 per cent annualised rate, compared with a 2 per cent increase at the start of the year. The Monsoon session of Parliament began from July 18 and will end on August 10th The Agenda includes 11 legislative bills currently pending in parliament for consideration and passing. Nine new bills are also proposed to be introduced. IPO Watch: HDFC AMC s Rs 2,800-Crore IPO Subscribed 100% On Day 1. Stocks To Watch: Our chart of the day which suggests establishing long positions in stocks like EXIDE Industries, HDFC and Reliance Industries. Bullish stocks: JSW STEEL, EXIDE, YES BANK, HDFC, TCS, BERGER PAINTS, TATA ELXSI, BAJAJ FINANCE, MARICO, TCS, INDUSIND BANK. Bearish stocks: IDFC, BANK OF INDIA, IDEA CELLULAR. Larsen s Q1 profit jumps 36.1% to Rs 1,215 crore versus Rs crore; revenue increases 18.8 percent to Rs 28,283 crore versus Rs 23,811 crore (YoY). BANK NIFTY Action Target Support Resistance Technical Strategy Holding Period BUY / / Days. In yesterday s trade, Bank Nifty was seen attempting a breakout, up 0.21%. Technically, Bank Nifty is consolidating at higher levels and signaling a major breakout on the daily charts. The index is exhibiting a probable flag pattern on the monthly charts; confirmation of strength above 27,251 mark. The momentum oscillators continue to be in buy mode, supporting the buying rationale. Any move above mark needs to be backed by increases in volumes. Key support to watch in near term is at zone. Medium term supports seen at zone. Establish long positions at CMP, and on declines to zone, targeting zone and then at zone with strict stop at

7 30,000 feet view : The big picture of Dalal Street Canara Bank Q1 profit rises 11.7 percent to Rs crore versus Rs crore; NII jumps 43.1 percent to Rs 3,882.9 crore versus Rs 2,713.2 crore (YoY); net NPA at 6.91 percent versus Vs 7.48 percent and gross NPA at percent versus percent (QoQ). Show Me the Money: Buy FEDERAL BANK (CMP 86.90): FEDERAL BANK is aiming to move above its 7-day higher consolidation zone. Positive bias as long as 80 support is held. Interweek Strategy: Buy between zone, targeting 91 and then more aggressive targets located at zone. Stop below 80.. Q1 TO TRICKLE IN: Thursday: Bharti Airtel, Biocon, Dr Reddy's Labs, ITC, Maruti Suzuki, Yes Bank, CESC, Ajmera Realty, Alembic Pharmaceuticals, Bayer Cropscience, Bharat Financial Inclusion, Cholamandalam Investment, Colgate Palmolive, Container Corporation, Control Print, Essel Propack, Force Motors, HeidelbergCement, Jammu & Kashmir Bank, Jindal Stainless (Hisar), Lakshmi Vilas Bank, NIIT, Novartis, Orient Green Power, Petronet LNG, Quess Corp, SBI Life Insurance, Schaeffler, Shemaroo, Shriram Transport Finance, Star Cement, Tata Metaliks, Tata Power, Tata Coffee, Tinplate Company, City Union Bank. Friday: HCL Tech, ICICI Bank, M&M Financial Stocks banned in F&O segment for today: ADANI ENT. Bulls Vs. Bears: Time to Pick a Side!! Preferred trade on Nifty: Nifty (11132): Buy between zone, targeting and then at zone with stop at Preferred trade on Bank Nifty: Bank Nifty (26974): Establish long positions at CMP, targeting zone and then at zone with strict stop at Daily Chart of Nifty: 30,000 feet view : The big picture of Dalal Street

8 Stock Of The Day: (F & O) Comfort stock of the day Stock Of The Day: (F & O) When we want to see what's happening far off, we will reach for the binoculars. The binocular helps us to steer out of danger and also accurately spots our targets. When it comes to trading / investing, that's exactly how Stock Of The Day: (F & O) introduces to the momentum stocks from the list of Future & Option segment, defining their support and resistance levels, and attempts to forecast their movement with a short /medium term perspective.

9 Stock Of The Day: (F & O) Federal Bank & YES Bank likely to bring joy to investors. Establish long positions on early dips with interweek perspective. STOCKS LTP S1 S2 R1 R2 BIAS TRADING STRATEGY FEDERAL BANK Positive FEDERAL BANK is aiming to move above its 7-day higher consolidation zone. Positive bias as long as 80 support is held. Interweek Strategy: Buy between zone, targeting 91 and then more aggressive targets located at zone. Stop below 80. EXIDE INDUSTRIES Positive The sequence of higher high/low still intact on daily, weekly and monthly charts. The interweek risk is on the upside with immediate targets at 275. Interweek Strategy: Buy between zone, targeting 279 and then at zone with stop below ESCORTS Positive ESCORTS enjoyed a stronbg session in yesterday's trade, up 1.77%. The sequence of higher high/low still intact on monthly charts. Interweek Strategy: Buy between zone, targeting 901 and then more aggressive targets located at zone. Stop below 853. MARICO Positive Momentum osillators continue to signal strength. MARICO is aiming to close above its all-time-high at 366 mark. Interweek Strategy: Buy between zone, targeting zone and then more aggressive targets located at zone. Stop below YES BANK Positive YES BANK is signaling a major breakout on monthly charts. Key support seen at zone. Key hurdles seen at 395. Interweek Strategy: Buy between zone, targeting 395 and then at zone. Stop below

10 EQUITY DERIVATIVES Looking into the future from present. Thursday 26th July, 2018 Changes in Open Interest (OI) in yesterday s trade. Future Call: SELL M&M AUGUST FUTURES at CMP Targets: and then at 890. Stop: Holding Period: 0-3 days. Analyst s Remark: Weakening Momentum. (M&M August Futures CMP ). Option Call: SELL BANK NIFTY JULY PE strike price at CMP Maximum Profit: Rs Loss: Unlimited. Stop: Hold Put Option till July expiry. (Bank Nifty July Futures CMP 27036). Nifty Spot Bank Nifty Future VIX Premium Nifty Future OI Bank Nifty Spot OI (-0.021%) (+0.21%) (-2.09%) crores (+40.46%) lakhs (+66.83%) Market Summary: In yesterday s trading session, the benchmark Nifty was seen struggling to strike its alltime-high at 11,172 mark as traders digested the latest batch of quarterly earnings and paused for breath after last three day s rally. The smart money refrained from making big bets ahead of a key meeting between U.S. President Donald Trump and European Commission President Jean-Claude Juncker. Worldwide stock markets are hoping for a truce in the trade tensions. Amongst Broader Indices, the BSE Midcap Index was moderately down by -0.12%, the Small Cap Index was up 0.23% as it outperformed the Sensex. Amongst the sectoral indices, outperforming the Sensex/Nifty were BSE Metal Index (up 0.82%), BSE Oil & Gas Index (up 0.18%), BSE Bankex Index (up 0.14%) Amongst the sectoral indices, underperforming the Sensex/Nifty were BSE Power Index (down 1.52%), BSE Realty Index (down 1.32%), BSE Consumer Durables Index (down 0.98%). Amongst stock specific action, positive bias was seen in stocks like Indiabulls Housing (up 3.80%), Bajaj Finserv (1.79%), SBIN (up 1.69%) Among stocks drifting down were: NTPC (down 4.10%), Lupin (down 2.92%), HCL Tech (down 2.68%). Maximum Call Open Interest (OI) stands at Strike Price, followed by Strike Price for August Series. Call writing was seen at strike prices for August expiry. Maximum Put Open Interest (OI) was seen at strike price followed by 10,500 strike price for August series. Put writing was the theme at strike prices for August series. As per Wednesday s provisional data available on the NSE, Foreign institutional investors (FIIs) sold shares worth Rs crores. Domestic institutional investors bought shares worth Rs crores in the Indian equity market. Highest OI Nifty: Calls 11500: L - Puts 11000: L Highest OI Bank Nifty: Calls 27500: 7.11 L - Puts 26000: 5.70 L Change in Stock Open Interest (OI) in previous day s trade. Long Buildup: NALCO, TATA STEEL, NCC, PETRONET, BHARAT FORGE. Short Buildup: TATA MOTORS, HCC, DLF, BHARTI AIRTEL, TECHM. Short Covering: RELIANCE, NHPC, ENGINEERSIND, HINDZINC, CANBK. Long Unwinding: AXIS BANK, DABUR, M&M, TATA GLOBAL, IOC. Stocks banned in F&O segment for today: ADANI ENT New In Ban: NIL. Out of Ban: NIL. Cash Volumes (INR in Cr.) BSE Cash Vol. (Rs. in Cr) NSE Cash Vol. (Rs. in Cr) NSE Derivative Vol. (Rs. in Cr) Derivatives Vol. (INR in Cr.) Index Future Volumes Stock Future Volumes Index Option Volumes Stock Option Volumes Total Yesterday No of contracts Day Before Yesterday Turnover (Rs. In cr.) Major Changes in Nifty Options (OI) Calls in lakhs (%Change) (0%) (-41%) (-1%) Puts in lakhs (% Change) (-4%) (-10%) (+54%)

11 DAILY PIVOT TABLE Thursday 26th July, 2018 Instrument Close S1 S2 R1 R2 200 Day SMA Reversal Point Trend NIFTY UP BANKNIFTY UP NIFTYMID DOWN ACC DOWN ADANIENT UP ADANIPORTS UP AJANTPHARM DOWN ALBK DOWN AMARAJABAT DOWN ANDHRABANK DOWN APOLLOTYRE UP ARVIND UP ASHOKLEY DOWN ASIANPAINT UP AUROPHARMA DOWN AXISBANK DOWN BAJAJ-AUTO DOWN BAJAJFINSV UP BAJFINANCE UP BALKRISIND UP BALRAMCHIN DOWN BANKBARODA DOWN BANKINDIA DOWN BATAINDIA UP BEL DOWN BEML DOWN BERGEPAINT UP BHARATFIN UP BHARATFORG DOWN BHARTIARTL DOWN BHEL DOWN BIOCON DOWN BPCL DOWN BRITANNIA UP CANBK DOWN CANFINHOME DOWN CASTROLIND DOWN CEATLTD DOWN CENTURYTEX DOWN CESC DOWN CGPOWER DOWN CHENNPETRO DOWN CHOLAFIN UP CIPLA UP COALINDIA DOWN COLPAL UP CUMMINSIND DOWN DABUR UP DALMIABHA DOWN DCBBANK DOWN DHFL UP DISHTV DOWN DIVISLAB UP DLF DOWN DRREDDY DOWN EICHERMOT DOWN ENGINERSIN DOWN EQUITAS DOWN ESCORTS UP EXIDEIND UP FEDERALBNK DOWN GAIL UP GLENMARK DOWN GMRINFRA DOWN GODREJCP UP GODREJIND UP GRANULES DOWN GRASIM DOWN GSFC DOWN HAVELLS UP HCC DOWN HCLTECH UP HDFC UP HDFCBANK UP HDIL DOWN HEROMOTOCO DOWN HEXAWARE UP HINDALCO DOWN HINDPETRO DOWN HINDUNILVR UP HINDZINC DOWN IBREALEST DOWN IBULHSGFIN UP ICICIBANK DOWN ICICIPRULI UP ICIL DOWN IDBI DOWN IDEA DOWN IDFC DOWN IDFCBANK DOWN IFCI DOWN IGL UP INDIACEM DOWN INDIANB DOWN INDIGO DOWN INDUSINDBK UP INFIBEAM UP INFRATEL DOWN INFY UP IOC DOWN IRB DOWN ITC UP JETAIRWAYS DOWN JINDALSTEL DOWN JISLJALEQS DOWN JPASSOCIAT DOWN JSWENERGY DOWN JSWSTEEL UP JUBLFOOD UP JUSTDIAL UP KOTAKBANK UP KPIT UP KSCL UP KTKBANK DOWN L&TFH UP LICHSGFIN DOWN LT UP LUPIN DOWN M&M UP M&MFIN UP MANAPPURAM DOWN MARICO UP MARUTI UP MCDOWELL-N DOWN DOWN MGL DOWN MOTHERSUMI DOWN MRF UP MRPL DOWN MUTHOOTFIN DOWN NATIONALUM DOWN NBCC DOWN NCC DOWN NMDC DOWN NTPC DOWN OFSS DOWN OIL DOWN ONGC DOWN ORIENTBANK DOWN PCJEWELLER DOWN PEL UP PETRONET DOWN PFC DOWN PIDILITIND UP PNB DOWN POWERGRID DOWN PTC DOWN PVR DOWN RAMCOCEM DOWN RAYMOND DOWN RBLBANK UP RCOM DOWN RECLTD DOWN RELCAPITAL DOWN RELIANCE UP RELINFRA DOWN REPCOHOME UP RPOWER DOWN SAIL DOWN SBIN DOWN SHREECEM UP SIEMENS DOWN SOUTHBANK DOWN SREINFRA DOWN SRF DOWN SRTRANSFIN DOWN STAR DOWN SUNPHARMA UP SUNTV DOWN SUZLON DOWN SYNDIBANK DOWN TATACHEM DOWN TATACOMM DOWN TATAELXSI UP TATAGLOBAL DOWN TATAMOTORS DOWN TATAMTRDVR DOWN TATAPOWER DOWN TATASTEEL DOWN TCS UP TECHM UP TITAN UP TV18BRDCST DOWN TVSMOTOR DOWN UBL UP UJJIVAN UP ULTRACEMCO DOWN UNIONBANK DOWN UPL DOWN VGUARD DOWN VOLTAS DOWN WIPRO DOWN WOCKPHARMA DOWN YESBANK UP ZEEL DOWN All level indicated above are based on cash market prices. Pivot Point PP : Pivot Point : This is trigger point for weekly buy/sell based on the price range of the previous week. R1 : Resistance one : 1st Resistance over PP. R2 : Resistance two : 2nd Resistance over R1. S1 : Support one : 1st support after PP. S2 : Support Two : 2nd support after S1. As per the tool, the trader should take BUY position just above PP and keep the stop loss of PP and the first target would be R1. If R1 is crossed then R2 becomes the next target with the stop loss at R1. Similarly if price goes below PP the trader should SELL and keep the PP as Stop loss and the first target would be S1. If S1 is crossed then S2 becomes the next target with the stop loss at S1. This is a trading tool. The key to use of this tool is the use of STOP LOSS.

12 Forecast and Analysis Comfort Forecast and Analysis Forecast and Analysis is a daily newsletter that provides technical update on all the major instruments of the world like Gold, Silver, Crude Oil, US Dollar Index and USD/INR. We define their support and resistance levels and attempt to forecast their movement with a short / medium term perspective. Also in the report, a trader will find bias for the mentioned instruments. This newsletter is also quite popular with a market participant who loves to have insight & theme on Gold, Silver as well Crude-Oil.

13 Forecast and Analysis Direction at a glance Gold prices seen trading firm as Trump s remarks seen hurting U.S dollar. Instrument LTP S1 S2 R1 R2 Bias TRADING STRATEGY GOLD Neutral In yesterday's trade, Gold was seen inching up. Bias continues to be neutral. Confirmation of strength above Interweek Strategy: Establish long positions at CMP, targeting and then at zone. Stop SILVER Neutral Silver prices too were seen trading rangebound. Major buying advised only above Interweek Strategy: Establish long positions at CMP, targeting zone and then at mark. Stop CRUDE OIL Negative Bias on crude-oil continues to be neutral. Key support seen at Confirmation of strength above Interweek strategy: Sell between zone, targeting 4627 zone and then 4501 and then at zone with stop at COPPER Neutral Copper prices were seen inching up in yesterday's trade. Support now seen at 411. Confirmation of strength only above 451. Interweek strategy: Establish sell positions on strength between zone, targeting 411 and then at zone with stop at 451. NATURAL GAS Neutral Natural Gas prices were seen consolidating in yesterday's trade with positive bias. Key supports now at 185. Interweek strategy: Establish long positions at CMP, targeting 201 and then aggressive targets at zone with stop at 183. USD-INR Neutral USD/INR was seen consolidating in yesterday's trade. Key interweek support seen at Hurdles now seen at Intraday Strategy: Sell at CMP, targeting zone with stop ABOVE

14 Forecast and Analysis Sailing global trend Wall Street struggles as investors digest mixed earnings and brace for Trump-Juncker meeting. Instrument LTP S1 S2 R1 R2 Bias TRADING STRATEGY GOLD $ Neutral In yesterday's trade, gold prices traded firm amidst slipping US Dollar. Hurdles now seen at Confirmation of strength only above Support seen at zone. SILVER ($) Neutral Silver prices were seen inching up in yesterday's trade, tracking rebound in gold prices. Confirmation of strength only above At the moment downside risk remains at WTI CRUDE OIL ($ ) Negative Crude-Oil prices were seen consolidating in yesterday's trade. Major hurdles now seen at zone. Interweek strategy: Sell between zone, targeting zone and then at 65 zone with stop at EUR/USD Neutral The EUR/USD was seen trading sideways in yesterday's trade. Technically, the bias continues to be neutral with key support to watch on EUR/USD at Hurdles seen at US Dollar Index Neutral The U.S. dollar was seen trading rangebound in yesterday's trade. Technically, bias now shifts to neutral. Hurdles at Downside well supported at Major weakness now only below DOW JONES Neutral At Wall Street, the Dow Jones index was seen struggling for direction in yesterday's trade amidst stream of overall positive earnings reports that overshadowed geopolitical tensions. Bias shifts to neutral.

15 DAILY PIVOT TABLE Thursday 26th July, 2018 Exchange Commodity Close S1 S2 R1 R2 200 Day SMA Reversal Point Trend NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX ALUMINUM CARDAMOM CASTOR CHANA COPPER COTTON CRUDE-OIL GOLD GAUR GUM GAUR SEED JEERA LEAD MENTHA OIL NATURAL GAS NICKLE RM SEED SILVER SUGAR SOYA BEAN ZINC DOWN DOWN UP UP UP DOWN UP UP DOWN UP UP UP DOWN UP UP UP UP DOWN DOWN DOWN

16 Comfort Securities Ltd. Registered Office Mumbai: Comfort Securities Ltd. A-301, Hetal Arch, S.V. Road, Opp. Natraj Mkt., Malad (W), Mumbai Phone: , , Fax: Comfort Securities Limited 605, 6th Floor, DDA2 Building, New Delhi , Janakpuri District Center, Janakpuri, Delhi, Comfort Securities Ltd 2nd Floor, Shop No S14, T 14, Friends Tower, Sanjay Place, Agra DISCLAIMER: This is solely for information of clients of Comfort Securities Ltd. and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Comfort Securities Ltd. its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Comfort Securities Ltd. or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Comfort Securities Ltd. in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Comfort Securities Ltd. has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Comfort Securities Ltd. makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement Analyst interest of the stock /Instrument(s): - No. Firm interest of the stock / Instrument (s): - No.