Market Commentary FII & DII Activity FII (Cash) in Cr -2760.63 DII (Cash) in Cr +1823.59 FII (Index Futures) in Cr -3156.90 FII (Index Options) in Cr +8509.33 FII (Stock Futures) in Cr -365.03 FII (Stock Options) in Cr +67.15 The BSE Sensex and NSE s Nifty 50 plunged over 2% amid sell-off in emerging markets triggered by surging crude oil prices and prospects of more rate hike by the US Federal Reserve. The rupee and bond prices also slumped further, tracking losses in emerging market currencies. Moreover, shares of oil marketing companies HPCL, BPCL and Indian Oil fell between 10% to 12% after finance minister Arun Jaitley asked the companies to absorb Rs 1 cut on fuel prices. BSE Sensex closed 806.47 points, or 2.24%, lower at 35,169.16, while the Nifty 50 fell 259 points, or 2.39%, to close at 10,599.25. In intraday trade, the Sensex plunged 953 points and the Nifty 50 tanked 311 points. The BSE MidCap and SmallCap declined 1.93% and 2.07%, respectively. All the sectoral indices on BSE posted losses with oil and gas and energy falling over 6.5%. IT and healthcare was down over 3%. Capital goods fell marginally at 0.07%.ICICI Bank, Axis Bank, L&T and Yes Bank were among the top gainers, whereas Reliance, HPCL, TCS and BPCL were among the major losers USDINR closed at 73.5750(+0.32%). Brent Crude is at 85.07 $. In the morning, The Shanghai Composite (UNCH) Nekkei225 (-0.74%) and the Hang Seng (-0.71%) are showing NEGATIVE cues. SGX NIFTY appeared positive ( -0.52%) Put-Call Ratio's Index Options 0.77 Stock Options 0.60 F&O Total 0.76 Titan Company: While the Watch business carried on its good run from the first quarter, the growth in the Jewellery business picked up very well after a relatively soft growth in Q1'19. Bhushan Steel: Production in Q2FY19 at 1.05 million tonne versus 0.85 million tonne and sales at 1.14 million tonne versus 1.03 million tonne (YoY). Q2 FY19 production is higher than Q2 FY18 mainly due to better plant availability. Indiabulls Housing Finance: Company allotted its Seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 350 crore. Thomas Cook (India): ICRA has withdrawn its credit rating assigned to Rs 100 crore non-convertible debentures programme of the company as the same were fully redeemed and there is no amount outstanding against it. Future Consumer: CARE has re-affirmed its rating assigned to the company in respect of bank facilities, non- convertible debentures and commercial paper. 1
Nifty Outlook Outlook: Nifty is expected to trade initially in a range 10550 to 10660 initially, support 10500-420 Resistance 10730. NSE Overall Advance & Decline Nifty (10599) closed on a weak note and breached the major support and 61.8% retracement level 10640 in the previous session. - Advances 464 It needs to sustain above 10660 to resume strength and possibility of a - Declines 1383 pull back. The initial range of the index may be 10550 to 10660. - Unchanged 75 As 10500PE maintained maximum open interest, it may act as a strong Change in Open Interest ( OCT) support for the session. Considering the high volatility one should also keep eye on next support - Nifty +7.79Lkhs shares at 10440-420. (+4.84) Moving above 10760 would insert more strength. - Bank Nifty are in highly over shares (+2.02%) sold region. +0.37Lakhs Weekly closing would give further cues. Oscillators Nifty PE 25.63 India VIX 18.9150(+4.40%) Chart (Daily): 10858 High 10755 Low 10547 Resistance Levels - R1 10660 - R2 10730 - R3 10800 Support Levels - S1 10550 - S2 10500 - S3 10420 NIFTY - BANK Outlook Outlook: Nifty Bank is expected to trade initially in the range 24600 to 25000 Resistances is 25150-25525 Support 24450 Nifty Bank also had a gap down opening and it closed with a hammer type candle with some recovery from lower levels. Bank Nifty Overall Advance & Decline - Advances 3 - Declines 9 - Unchanged 0 Bank Nifty Open Interest +0.37Lakhs shares (+2.02%) Initially it is expected to trade in the range 24600 to 25000. Key support level is 24450. Below this level weakness would be intense and It may move towards 24000 and 23800. Resistances are seen at 25150 and 25525. Any closing above 25150 would insert strength with the possibility of further pullback rally. Oscillators are in highly over sold region with positive divergence on daily chart. Weekly closing would give further cues. 2
Daily Technical Roundup Bank Nifty Chart (Daily): 24819 High Low Resistance Levels 24893 24501 - R1 - R2 - R3 25000 25150 25550 Support Levels - S1 24450 - S2 24000 - S3 23800 Stock Watch Fresh Longs Trends 1 HINDALCO VEDL 2 3 JUSTDIAL BOI 4 5 CHENNPETR Fresh Shorts BATAINDIA RAMCO BAJFINSER M&M EICHERMOT Short Coverings Long Unwinding SIEMENS BEML NIITTECH YESBANK BAJFINANCE DHFL SUNTV BHARATF AXISBANK MGL Stock Picks TITAN Recommendation Sell Current Price 775.80 Current Price (Date) Transaction Price Range Target 4Oct 2018 Stop Loss 812 200DMA 882.25 Segment Cash 52-week High (Rs.) 1006.00 52-week Low (Rs.) 584.00 Market Cap (Rs. Cr) 68906.60 780-790 or cmp 750-735 Titian has a head and shoulder patter in hourly chart neckline is at 790. Sell at rise sl 812 target 750-735. 3
Daily Technical Roundup COALINDIA Recommendation Sell Current Price 273.30 Current Price (Date) Transaction Price Range Target 4Oct 2018 Stop Loss 284 200DMA 281.46 Segment Cash 52-week High (Rs.) 316.55 52-week Low (Rs.) 256 Market Cap (Rs. Cr) 168903.35 273-277 or cmp 260-250 CoalIndia failed to sustain above the neckline in the pull back. Sustai9ning below 270 would indicate 260 and 250 levels. Disclaimer This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the security/ instrument referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Source: Sumpoorna Research, NSE, BSE, SEBI, and other publically available documents. Document prepared by: Nitesh Aggarwala & Sunil Koul For further information, please contact: Sumpoorna Global Markets & Economics Research Sumpoorna Portfolio Limited, its affiliates, directors, its proprietary trading and investment businesses (collectively referred to as Sumpoorna ) may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a investment vehicle's price movement, outstanding positions and trading volume, as opposed to focusing on a instrument's fundamentals and, as such, may not match with a report on a company's/ investment vehicles fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Sumpoorna or any of its affiliates/ group companies 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 report. Sumpoorna has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Sumpoorna endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Neither Sumpoorna, its directors, employees nor its affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. 4
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