Research Analyst Report

Published On 10 Jan 2019 Research Analyst Report 10 JAN 2019 Premium Equity Daily Journal Strictly for Client Circulation Nifty 10821.60 Sensex 36106.50-33.55 (-0.31%) -106.41 (-0.29%) Email: research@24cfin.com & contactus@24cfin.com

Market Wrap Indices decline further; breadth turns negative- The Sensex and the Nifty hit fresh intraday low in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 111.67 points or 0.31% at 36,101.24. The Nifty 50 index was down 48 points or 0.44% at 10,807.15. Investors booked profits after market gained in past four trading sessions. Negative global cues also spoiled sentiment. Indices were trading with small losses in early trade. Benchmarks firmed up and hit fresh intraday high in morning trade. Indices reversed trend and traded near day's low in mid-morning trade. Indices extended losses in afternoon trade and hit fresh intraday low in mid-afternoon trade. Among secondary barometers, the BSE Mid-Cap index was up 0.32%. The BSE Small-Cap index was up 0.11%. Positive market breadth Stocks cut losses in afternoon trade after hitting intraday low in early afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was down 66.18 points or 0.18% at 36,146.73. The Nifty 50 index was down 28.25 points or 0.26% at 10,826.90. Investors booked profits after market gained in past four trading sessions. Indices were trading with small losses in early trade. Benchmarks firmed up and hit fresh intraday high in morning trade. Indices reversed trend and traded near day's low in mid-morning trade. Indices extended losses and hit fresh intraday low in early afternoon trade. Among secondary barometers, the BSE Mid-Cap index was up 0.37%. The BSE Small-Cap index was up 0.29%.

Buzzing Stocks Gainers: Titan (+1.5%), Tata Motors, Eicher (+1%). Losers: HPCL (-3%), IndusInd Bank, Grasim (-2%). NCC gains 2% as Rakesh Jhunjhunwala buys additional stake. Bandhan Bank Q3FY19 (YoY): PAT at Rs 331 Cr vs Rs 300 Cr (+10%). NII at Rs 1,124 Cr vs Rs 732 Cr. GNPA at 0.7% vs 0.69% (QoQ). Phoenix Mills stock slips 3%. Trading volume was more than 150 times its 20-day average. Indian Energy Exchange stock up. Trading volume was more than 30 times its 20-day average. Bajaj Corp stock gains 2%. Trading volume was more than 13 times its 20-day average. Lux Industries stock falls 5% on heavy volumes. Goa Carbon Q3FY19 (YoY): Net loss at Rs 4.90 Cr vs profit of Rs 22.5 Cr. Stock down 1%. IndusInd Bank stock slips 2% after brokerage firm cuts target price. TCS stock trades flat ahead of Q3FY19 numbers. Vakrangee hit 5% upper circuit post inspection by MCA. Ashok Leyland gains 1.5% on bus orders from STU; acquires additional stake in Ashley Aviation. Delta Corp slips 2% despite healthy Q3FY19 numbers. Fertilisers stocks gain. Fertilizers & Chemicals Tranvancore (+8%), Rashtriya Chemicals, Nagarjuna Fertilizers (+7%), National Fertilizer (+6%). Results today: TCS

Market Action Jan 10, 14:50 Tata Consultancy Services 1,888.15 0.35 (0.02%) Seven picks from. 5 sectors by Elara Capital that are likely to hog limelight in 2019. Jan 10, 14:00 Goa Carbon 531.10-11.00 (-2.03%) Goa Carbon posts loss Rs 4.9 cr in Q3 amid plants shutdown. Jan 10, 14:00 Bandhan Bank 471.70 17.35 (3.82%) Bandhan Bank Q3 profit rises 10% to Rs 331.3 crore; provides Rs 385 crore for IL&FS. Jan 10, 13:00 Raymond 812.00 5.45 (0.68%) Raymond's Gautam Singhania to step down as Chairman from all group companies. Jan 10, 12:30 Tata Steel 480.30 0.95 (0.20%) Change in plans: Tata Steel may retain up to 30% stake in South East Asian units. Jan 10, 12:30 Yes Bank 186.70 0.30 (0.16%) Yes Bank shortlisted CEO names without consulting Rana Kapoor and Madhu Kapur. Jan 10, 11:15 Hindustan Zinc 275.10 0.25 (0.09%) Kotak cuts target for metals stocks citing weak demand and China stimulus plan. Jan 10, 11:00 Infosys 679.75 3.90 (0.58%) Infosys to announce Q3 earnings on Jan 11; Here's what brokerages are expecting.

Nifty Spot View NIFTY 10821.60-33.55 (-0.31%) Intraday 52 Weeks (Bearish) Open 10,859.35 High 10,859.35 11,760.20 Previous Close 10,855.15 Low 10,801.80 9,951.90 R2 10,883 R1 10,852 Pivot 10,827 S1 10,796 S2 10,771 JUSTIFICATION AND COMMENTS- Benchmark indices have opened mixed in pre-opening trade and The rupee is expected to come under pressure as crude oil prices are rising once again in the international market. Further, now focus would shift to India's macroeconomic data. CPI is expected to remain benign and It is a mildly lower start on the benchmarks on Thursday morning, with the Nifty above 10,800-mark. Due to markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war. It s a negative end on the market on Thursday, with the Nifty holding on to 10,800-mark. At the close of market hours, the the Nifty down 33.60 points or 0.31% at 10821.60. On previous trading session Nifty index had breached 200 day s EMA but On today s trading session Nifty index failed broke its previous high and remain in a range and closed on down side because of Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war and the Nifty has been trading in the narrow range of 10,620-10,900. This has led to the formation of a symmetrical triangle pattern. One can expect breakout in next few trading sessions but for tomorrow Nifty index look bearish cause of weak global market and its formed a bearish candel stick pattern of daily chart and and The Minor Support for the index lies in the zone 10796-10771 where short term bottom has been formed. & Resistance for the index lies in the zone of 10852-10883 & the index manages to close above these levels then the index can move to the levels of to 10908-10950. As per the pivot table 10796-10771 are The intraday support levels for the Nifty index. The intraday resistance in the nifty index is seen in the range of 10852-10883.

Nifty Spot View NIFTY BANK 27528.55-191.85 (-0.69%) Intraday 52 Weeks (Bearish) Open 27,713.55 High 27,713.55 28,388.65 Previous Close 27,720.40 Low 27,488.20 23,605.60 R2 27,778 R1 27,653 Pivot 27,576 S1 27,448 S2 27,368 JUSTIFICATION AND COMMENTS- Bank Nifty was down half a percent dragged by IndusInd Bank, Kotak Mahindra Bank, Axis Bank and Federal and Shares of private sector banks were trading lower in the Thursday & Axis Bank, ICICI Bank and SBI have witnessed upmove with good volumes. Bank Nifty will continue to take leadership. And The Reserve Bank of India has advised non-bank lenders to adjust to the current state of liquidity even as the sector lobbies for bank loans at easier terms for lending to the small and medium enterprises sector which is known for creating jobs and Private sector lender. Bank Nifty index had breached trend line with good volume on last trading session but today Bank Nifty failed to broke its previous swing high and its remain in a range and closed on negative note cause of Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war and Now Bank Nifty index look bearish cause of its once again give reversal signal from trend line and also formed a bearish candelstick pattern and weak asian market and The Minor Support for the index lies in the zone 27448-27368 where short term bottom has been formed. & Resistance for the index lies in the zone of 27653-27778 & the index manages to close above these levels then the index can move to the levels of to 27858-27900. As per the pivot table 27448-27368 are The intraday support levels for the Nifty Bank index. The intraday resistance in the Bank Nifty index is seen in the range of 27653-27778.

Key Indices Index LTP High Low % Change Nifty 50 Bank Nifty Nifty Next 50 JUSTIFICATION AND COMMENTS- 11,054.45 11,087.65 11,032.05-23.55 Nifty 100 Nifty 200 Nifty 500 Nifty Midcap 100 Nifty Smallcap 100 Advance/Decline Today 10,821.60 10,859.35 10,801.80-33.55 27,528.55 27,713.55 27,488.20-191.85 27,798.20 27,820.60 27,675.95 +114.70 5,722.90 5,739.85 5,712.05-8.05 9,119.40 9,144.00 9,102.55-8.05 17,691.15 17,739.55 17,610.60 +69.85 6,414.80 6,421.80 6,382.20 +25.55 Index Advance Decline Nifty 50 23 27 Nifty Next 50 30 19 Nifty 100 55 45 JUSTIFICATION AND COMMENTS- Nifty 200 113 85 Nifty 500 270 224 Sector Indices Today Index LTP High Low % Change Nifty Metal Nifty Auto Nifty Energy 14,004.55 14,065.90 13,957.80-56.45 JUSTIFICATION Nifty Media AND COMMENTS- 2,496.95 2,512.40 2,491.15 +2.00 Nifty Realty Nifty Pharma Nifty Financial Services Nifty FMCG Nifty PSU Bank Nifty IT 2,972.35 2,990.05 2,961.15-3.15 8,933.35 8,964.15 8,908.05 +26.25 239.90 242.95 238.10-0.65 8,934.80 8,945.25 8,866.35 +28.10 11,675.50 11,741.55 11,660.15-65.25 30,571.65 30,774.30 30,519.25-5.70 3,188.85 3,208.70 3,169.45 +1.45 14,323.25 14,393.45 14,272.25-2.85

INDEX PULLERS AND DRAGGERS Index Pullers Index LTP Change(%) Contribution Points Infosys 679.70 3.60 (0.53%) 3.40 Larsen & Toubro 1,392.60 6.55 (0.47%) 2.01 M & M 733.20 6.90 (0.95%) 1.59 Titan Company 966.70 13.75 (1.44%) 1.41 NTPC 148.10 1.55 (1.06%) 1.30 Index Draggers Index LTP Change(%) Contribution Points Kotak Mah. Bank 1,219.55-18.70 (-1.51%) -6.34 H D F C 1,980.10-14.85 (-0.74%) -6.16 IndusInd Bank 1,565.90-35.85 (-2.24%) -4.69 HDFC Bank 2,108.50-8.30 (-0.39%) -4.47 ICICI Bank 379.50-2.75 (-0.72%) -4.46 Stock Showing Activity Top Gainers- Nifty 500 Index LTP Change(%) Va Tech Wabag 320.35 40.85 (14.62%) Linde India 744.20 56.60 (8.23%) Hind.Construct. 13.40 0.85 (6.77%) JUSTIFICATION AND COMMENTS- R C F 66.85 4.15 (6.62%) GE T&D India 312.20 16.95 (5.74%) Top Losers- Nifty 500 Index LTP Change(%) Lux Industries 1,140.55-77.80 (-6.39%) Praj Inds. 137.90-7.00 (-4.83%) Tata Inv.Corpn. 857.85-36.15 (-4.04%) JUSTIFICATION AND COMMENTS- V-Mart Retail 2,294.30-88.90 (-3.73%) Tube Investments 324.50-10.95 (-3.26%)

52-Weeks High-Low 52-Weeks High- Nifty 500 52-Weeks Low- Nifty 500 Index LTP Change(%) Index LTP Change(%) Linde India 744.20 56.60 (8.23%) Aarti Inds. 1,546.05 51.40 (3.44%) Bata India 1,165.50 17.30 (1.51%) Lux Industries 1,140.55-77.80 (-6.39%) Gateway Distr. 116.25-2.15 (-1.82%) K P R Mill Ltd 533.10-1.35 (-0.25%) PVR 1,636.25 23.55 (1.46%) Torrent Pharma. 1,856.50 26.30 (1.44%) Global Indices Index Date Value Change %Change Straits Times 3,183.51 +25.44 +0.81% Hang Seng 26,521.43 +59.11 +0.22% Nikkei 225 20,163.80-263.26-1.29% SSE (Shanghai) 2,535.10-9.24-0.36% Nasdaq 6,957.08 +60.08 +0.87% 10/01/2019 S&P500 2,584.96 +10.55 +0.41% Dow Jones Ind. Avg. 23,879.12 +91.67 +0.39% DAX 10,842.23-51.09-0.47% CAC 40 4,777.92-35.65-0.74% BEL-20 3,393.85-10.41-0.31% FTSE 100 6,885.31-21.32-0.31%

24 Carat Call INDIAN BANK 251.20-2.25-0.89% (Bearish) Today's Price Status Volume traded 914,568 Weighted Avg Price 252.87 Face Value 10.0 Prev. Close 253.45 Open Price 254.00 Bid Price(Qty.) 0.00 (0) Moving Averages 30 Day 236.74 50 Day 236.96 150 Day 288.72 200 Day 294.56 R2 256 R1 253 Pivot 252 S1 249 S2 248 JUSTIFICATION AND COMMENTS- - INDIANBANK Looks bearish on daily charts. - Stock has formed strong resistance level on daily chart & Its failed to broke resistance level. - Stock has been formed strong resistance level & its unable to broke resistance level & its consolidate below resistance level & formed a bearish candelstick pattern on daily chart with good volume. - Stock had touched 50 day's EMA and its failed to breached it and its given reversal signal. - Looking at the Chart Structure, Technical Pattern, Moving Averages, We are bearish on the Counter and suggest selling in the next trading session. SELL INDIANB AROUND 252-251 TG: 248/244 SL: 256

24 Carat Call Performance Note: Profit is calculated on investment of Six Lacs. Date Call Target/SL P&L 09 Jan 2019 08 Jan 2019 BUY NIITTECH AROUND 1160-1163 TG: 1183-1200 SL: 1140 BUY LUPIN AROUND 840-842 TG: 852-862 SL: 830 NOT EXECUTED NOT EXECUTED 25 Dec 2018 BUY NIITTECH AROUND 1149-1151 TG: 1161-1172 SL: 1139 TG: 1161 `5,000/- 24 Dec 2018 BUY UPL AROUND 750-752 TG: 762-772 SL: 740 TG: 759 `7,000/- 24 Dec 2018 SELL DLF AROUND 179-180 TG: 175-170 SL: 185 TG: 175 `13,000/- 12 Dec 2018 BUY M&M AROUND 752-754 TG: 764-774 SL: 742 TG: 764 `10,000/- 07 Dec 2018 BUY INFY BUY AROUND 684-686 TG: 696-706 SL: 674 NOT EXECUTED 06 Dec 2018 SELL RELIANCE AROUND 1120-1117 TG: 1107-1093 SL: 1130 TG: 1108.40 `6,000/- 05 Dec 2018 SELL ITC AROUND 274-273 TG: 270-266 SL: 278 TG: 271.50 `5,500/- 04 Dec 2018 SELL TITAN AROUND 925-922 TG: 910-900 SL: 935 TG: 901.6 `16,000/- 03 Dec 2018 SELL UPL AROUND 730-728 TG: 728-718 SL: 740 NOT EXECUTED 30 Nov 2018 BUY RBLBANK AROUND 548-550 TG: 560-575 SL: 538 TG: 560 `10,000/- 29 Nov 2018 BUY HINDALCO AROUND 225-226 TG: 230-234 SL: 221 NOT EXECUTED 26 Nov 2018 BUY GLENMARK AROUND 645-650 TG: 660-670 SL: 635 TG: 655 `9,000/- 22 Nov 2018 SELL JUSTDIAL AROUND 495-490 TG: 480-470 SL: 410 TG: 487 `9,600/- 21 Nov 2018 SELL RELIANCE AROUND 1120-1116 TG: 1100-1080 SL: 1035 (QTY: 530) TG: 1100 `10,000/- 20 Nov 2018 19 Nov 2018 BUY TITAN AROUND 913-908 TG: 900-890 SL: 924 (QTY: 640 ) BUY JINDALSTEL AROUND 179-180 TG: 184-188 SL: 175 (QTY: 3200 ) NOT EXECUTED NOT EXECUTED 15 Nov 2018 SBIN BUY AROUND 282-285 TG: 290-295 SL: 277 (QTY: 2100) TG: 290 `16,500/- 14 Nov 2018 BUY TITAN AROUND 890-895 TG: 910/920 SL: 875 (QTY: 670) TG: 920 `20,000/-

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