Research Analyst Report

Published On 05 Feb 2019 Research Analyst Report 05 Feb 2019 Premium Equity Daily Journal Strictly for Client Circulation Nifty 10934.35 22.10 (0.20%) Sensex 36616.81 34.07 (0.09%) Email: research@24cfin.com & contactus@24cfin.com

Market Wrap Sensex, Nifty trim gains; cement shares decline- The Sensex and the Nifty came off day's high in mid-afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was up 81.35 points or 0.22% at 36,664.09. The Nifty 50 index was up 23.10 points or 0.21% at 10,935.35. After trading almost flat in early trade, indices inched up in morning trade. Indices traded in a narrow range near flat line in mid-morning trade. Key benchmarks firmed up and hit fresh intraday high in early afternoon trade. Stocks held positive zone in afternoon trade. Broader market witnessed selling. Among secondary barometers, the BSE Mid-Cap index was down 0.59%. The BSE Small-Cap index was down 0.92%. The market breadth, indicating the overall health of the market, was weak. On BSE, 777 shares rose and 1645 shares fell. A total of 144 shares were unchanged. Weak market breadth- Stocks held positive zone in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 72.39 points or 0.2% at 36,655.13. The Nifty 50 index was up 26.05 points or 0.24% at 10,938.30. After trading almost flat in early trade, indices inched up in morning trade. Indices traded in a narrow range near flat line in mid-morning trade. Key benchmarks firmed up and hit fresh intraday high in early afternoon trade. Among secondary barometers, the BSE Mid-Cap index was down 0.27%. The BSE Small-Cap index was down 0.39%. The market breadth, indicating the overall health of the market, was weak. On BSE, 846 shares rose and 1468 shares fell. A total of 129 shares were unchanged.

Buzzing Stocks Titan stock soars 4%. Trading volume was almost quadruple its 20-day average. Larsen & Toubro Infotech stock jumps 5%. Trading volume was 4.1 times its 30-day average. Jubilant FoodWorks tanks 5% on reports of not passing GST benefit on sale of some products. Bharti Airtel stock falls 4% as Moody's cuts rating on unsecured notes. Dr. Reddys stock gains 2%; rival loses bid to prevent Suboxone launch. Whirlpool stock drops 3% after brokerage firm downgrade. Nifty PSU Bank index gains 1%. PNB (+4%), J&K Bank (+2%), SBI, Indian Bank (+1%)

Market Action Feb 05, 14:30 Power Finance Corporation 100.65-0.25 (-0.25%). PFC acquiring 52% stake in REC gets CCI's green signal. Feb 05, 13:45 Dena Bank 11.67-0.20 (-1.68%) Merger will not lead to reduction in branches: Dena Bank. Feb 05, 13:45 Bharat Heavy Electricals 58.90-5.95 (-9.18%) BHEL Q3 profit up 25%, but posts weak operational show; stock declines 7%. Feb 05, 13:45 IRB Infrastructure Developers 122.45-16.90 (-12.13%) IRB Infrastructure Developers: Faster execution to drive higher earnings growth. Feb 05, 13:45 Punjab National Bank 73.55 0.40 (0.55%) PNB Q3 profit at Rs 246.5 crore, NII rises 8% to Rs 4,290 crore; asset quality improves. Feb 05, 12:45 Bajaj Auto 2,711.25 65.15 (2.46%) Egypt wants to wean away Bajaj Auto s rickshaw drivers to help build a new Cairo instead. Feb 05, 08:00 Lakshmi Vilas Bank 57.80-0.40 (-0.69%) Lakshmi Vilas Bank Q3 net loss widens to Rs 373 crore. Feb 05, 08:00 Bharti Airtel 307.05 0.45 (0.15%) Telcos seek GST waiver on payments to govt, Rs 35K-cr input credit adjustment.

Nifty Spot View NIFTY 50 10934.35 22.10 (0.20%) Intraday 52 Weeks (Bullish) Open 10,908.65 High 10,956.70 11,760.20 Previous Close 10,912.25 Low 10,886.70 9,951.90 R2 10,995 R1 10,964 Pivot 10,925 S1 10,894 S2 10,855 JUSTIFICATION AND COMMENTS- Indian indices are flat in the pre-opening trading with Nifty trading around 10,900 level and The Indian rupee opened higher by 10 paise at 71.70 per dollar versus previous close 71.80 but Wall Street gained on Monday, with all three major indexes closing near session highs as sustained optimism on the prospects for US-China trade relations propelled technology shares and Benchmark indices are trading flat with Nifty holding above 10,900 level and Foreign Institutional Investors (FIIs), which were net sellers in Indian markets both in equities as well as debt segment for the December quarter, raised stake in nearly 400 companies in the same period, data from Ace Equity showed. Equities have ended the session on a flat note, with the Nifty closing above 10,900-mark. At the close of market hours the Nifty up 22.10 points or 0.20% at 10934.40 Nifty Index closed above 200 day s EMA on Monday and On today trading session Nifty Index again sustain on 200 day s EMA and broke its previous swing high with good volume and closed above it because Foreign investors raised stake in as many as 387 companies from previous quarter. Now Nifty Index is gone toward to strong resistance level if Nifty Index will be broke resistance level then further upside movement will be come so now Nifty Index look bullish ahead because its failed to broke the 200 day s EMA and its also broke its previous high and Recent US data and the Federal Reserve's dovish turn kept lifting Asian stocks early on Tuesday, while the dollar held the upper hand against its rivals. As per the pivot table 10894-10855 are The intraday support levels for the Nifty index. The intraday resistance in the nifty index is seen in the range of 10995-11964.

Nifty Spot View NIFTY BANK 27271.70 85.10 (0.31%) Intraday 52 Weeks (Bullish) Open 27,226.05 High 27,348.25 28,388.65 Previous Close 27,186.60 Low 27,153.20 23,605.60 R2 27,452 R1 27,361 Pivot 27,084 S1 27,166 S2 27,062 JUSTIFICATION AND COMMENTS- The Reserve Bank of India is likely to change its monetary policy stance to 'neutral' from 'calibrated tightening' on Thursday and move closer to a rate cut in April as inflation stays below the central bank's 4 per cent target and India s central bank eased operational curbs on three state-run lenders, interim finance minister Piyush Goyal told federal lawmakers during his budget speech Friday that he expects the eight remaining public sector financiers to also be out of the ambit of the prompt corrective action (PCA) framework soon and Foreign Institutional Investors (FIIs), which were net sellers in Indian markets both in equities as well as debt segment for the December quarter, raised stake in nearly 400 companies in the same period, data from Ace Equity showed. Bank Nifty unable to breached the strong support level of 26,923 and closed above it with good on yesterday But on today s trading session Bank Nifty Index remained in range but later Bank Nifty Index broke its previous swing high and closed above it because of Foreign investors raised stake in as many as 387 companies from previous quarter which includes HDFC, Bharat Financial Inclusion, Indiabulls Housing Finance, IndusInd Bank, Shriram Transport etc. Now Bank Nifty Index look bullish ahead because Bank Nifty Index successfully sustained on moving average & support level also If Bank Nifty Index broke the level of 27,400 then further upside movement will be come. As per the pivot table 27166-27062 are The intraday support levels for the Nifty Bank index. The intraday resistance in the Bank Nifty index is seen in the range of 27452-27361.

Key Indices Index LTP High Low % Change Nifty 50 Bank Nifty Nifty Next 50 JUSTIFICATION AND COMMENTS- 11,079.65 11,104.55 11,044.60 +9.20 Nifty 100 Nifty 200 Nifty 500 Nifty Midcap 100 Nifty Smallcap 100 Advance/Decline Today 10,934.35 10,956.70 10,886.70 +22.10 27,271.70 27,348.25 27,153.20 +85.10 26,397.75 26,642.20 26,301.35-190.45 5,696.80 5,713.85 5,685.75-0.75 9,033.60 9,064.60 9,016.70-8.40 16,710.00 16,926.25 16,638.05-130.00 5,959.65 6,058.60 5,934.50-84.10 Index Advance Decline Nifty 50 31 19 Nifty Next 50 17 33 Nifty 100 48 53 JUSTIFICATION Nifty 200 AND COMMENTS- 75 125 Nifty 500 176 318 Sector Indices Today Index LTP High Low % Change Nifty Metal Nifty Auto Nifty Energy Nifty Media JUSTIFICATION AND COMMENTS- 2,115.15 2,128.00 2,048.95 +46.90 Nifty Realty Nifty Pharma Nifty Financial Services Nifty FMCG Nifty PSU Bank Nifty IT 2,768.30 2,806.60 2,749.25-26.15 8,468.30 8,489.70 8,408.25 +72.75 15,198.95 15,309.30 15,131.70-16.40 223.95 230.15 223.25-5.15 8,800.60 8,887.45 8,764.50-11.30 11,519.55 11,533.85 11,453.35 +26.90 29,759.85 30,053.65 29,695.35-249.05 2,910.20 2,944.80 2,890.30-6.55 15,738.70 15,812.15 15,634.95-16.10

INDEX PULLERS AND DRAGGERS Index Pullers Index LTP Change(%) Titan Company 1,070.30 44.55 (4.34%) 4.45 IndusInd Bank 1,539.25 34.60 (2.30%) 4.33 Axis Bank 729.75 9.25 (1.28%) 4.05 Maruti Suzuki 7,103.70 115.50 (1.65%) 3.77 HDFC Bank 2,110.35 5.45 (0.26%) 2.92 Contribution Points Index Draggers Index LTP Change(%) Contribution Points ITC 274.20-2.90 (-1.05%) -6.28 O N G C 142.85-3.40 (-2.32%) -2.68 Coal India 216.00-6.10 (-2.75%) -2.63 ICICI Bank 353.30-1.25 (-0.35%) -2.02 Tata Steel 465.75-10.30 (-2.16%) -1.99 Stock Showing Activity Top Gainers- Nifty 500 Index LTP Change(%) Praj Inds. 129.75 8.80 (7.28%) Dewan Hsg. Fin. 122.30 6.80 (5.89%) Balrampur Chini 108.05 5.70 (5.57%) JUSTIFICATION GRUH Finance AND COMMENTS- 220.00 10.40 (4.96%) Reliance Nip.Lif 137.50 6.45 (4.92%) Top Losers- Nifty 500 Index LTP Change(%) Reliance Power 11.95-5.25 (-30.52%) Rel. Comm. 5.40-2.15 (-28.48%) Suzlon Energy 3.60-1.15 (-24.21%) JUSTIFICATION CG Power & Indu. AND COMMENTS- 31.00-5.80 (-15.76%) JP Associates 5.15-0.80 (-13.45%)

52-Weeks High-Low 52-Weeks High- Nifty 500 52-Weeks Low- Nifty 500 Index LTP Change(%) Titan Company 1,070.30 44.55 (4.34%) UPL 798.70 27.80 (3.61%) Axis Bank 729.75 9.25 (1.28%) Divi`s Lab. 1,618.40 8.95 (0.56%) Aarti Inds. 1,678.00-43.30 (-2.52%) Index LTP Change(%) Reliance Power 11.95-5.25 (-30.52%) Suzlon Energy 3.60-1.15 (-24.21%) CG Power & Indu. 31.00-5.80 (-15.76%) JP Associates 5.15-0.80 (-13.45%) Reliance Nav.Eng 8.70-1.35 (-13.43%) Global Indices Index Date Value Change %Change Nikkei 225 20,844.45-39.32-0.19% Straits Times 3,184.56 0.00 0.00% Hang Seng 27,990.21 +59.47 +0.21% SSE (Shanghai) 2,618.23 +33.66 +1.30% Nasdaq 7,347.54 +83.67 +1.15% 05/02/2019 S&P500 2,724.87 +18.34 +0.68% Dow Jones Ind. Avg. 25,239.37 +175.47 +0.70% DAX 11,274.72 +98.14 +0.88% BEL-20 3,523.87 +17.05 +0.49% CAC 40 5,039.28 +39.09 +0.78% FTSE 100 7,121.98 +87.85 +1.25%

24 Carat Call Larsen & Toubro Limited 1,304.00-3.40-0.26% (Bearish) Today's Price Status Volume traded 1,447,400 Weighted Avg Price 1311.63 Face Value 2.0 Prev. Close 1307.40 Open Price 1310.70 Bid Price(Qty.) 0.00 (0) Moving Averages 30 Day 1,356.41 50 Day 1,378.70 150 Day 1,326.31 200 Day 1,332.59 R2 1,332 R1 1,318 Pivot 1,309 S1 1,295 S2 1,286 JUSTIFICATION AND COMMENTS- - LT 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 breached 200 day s EMA and closed below it. If it will be broke its previous low then further downside movement will be come - Looking at the Chart Structure, Technical Pattern, Moving Averages, We are bearish on the Counter and suggest selling in the next trading session. SELL LT AROUND 1303-1300 TG: 1290-1280 SL: 1313

24 Carat Call Performance Note: Profit is calculated on investment of Six Lacs. Date Call Target/SL P&L 01 Feb 2019 BUY HDFC AROUND 1960-1963 TG: 1973-1984 SL: 1950 TG: 1973 `7,000/- 31 Jan 2019 BUY DABUR AROUND 443-445 TG: 455-465 SL: 434 TG: 455 `13,500/- 18 Jan 2019 SELL INFRATEL AROUND 279-277 TG: 270-264 SL: 282 TG: 270 `19,000/- 17 Jan 2019 SELL DABUR AROUND 420-418 TG: 412/406 SL: 4263 15 Jan 2019 BUY DABUR AROUND 433-435 TG: 440/445 SL: 428 TG: 438 `7,000/- 11 Jan 2019 BUY DABUR AROUND 421-422 TG: 426-430 SL: 417 TG: 430 `13,000/- 10 Jan 2019 SELL INDIANB AROUND 252-251 TG: 248/244 SL: 256 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 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 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 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 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 BUY TITAN AROUND 913-908 TG: 900-890 SL: 924 (QTY: 640 )

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