DAILY REPORT

24th FEBRUARY. 2014

Global markets at a glance Japan's Nikkei average jumped 2.9% on Friday as the weak yen lifted overall sentiment and after a reading on U.S. manufacturing hit its highest in nearly four years. The Nikkei ended 416.49 points higher at 14,865.67, the highest closing level since Jan. 31. France's CAC 40 index hit a 5-1/2-year peak to lead European shares higher on Friday, with an index of top shares in the region posting its third straight week of gains. The CAC up 2% so far this year, compared to a 1.1% rise on the German DAX. Last year, the DAX rose 25% to the CAC's 17% gain. The FTSEurofirst 300 index of top European shares closed up 0.3% at 1,343.12 points, led by a 0.6% rise on the CAC which hit its highest level since 2008. Wall Street Update US stocks slipped on Friday on options-related trading, with the S&P 500 facing resistance as it flirts with its record high even as economic data continues to underwhelm. Shares declined late in the session due in part to trades related to options expiration. The Dow Jones industrial average fell 29.93 points or 0.19 percent, to end at 16,103.30. The S&P 500 lost 3.53 points or 0.19 percent, to finish at 1,836.25. The Nasdaq Composite dropped 4.13 points or 0.10 percent, to close at 4,263.41. Previous day Roundup Equity benchmarks recouped previous sessions losses on Friday supported by banks, technology and heavyweights. Short covering too helped the stocks move higher. The 50share NSE benchmark Nifty closed above 6,150 level, up 64pts or 1.05% to 6,155.45 while Sensex jumped 164.11pts or 0.80% to 20,700.75. Experts believe gradual increase in confidence of the market was because most of the events like emerging currencies crisis, Fed tapering etc are over now and FIIs gradually started pumping money again. Index stats The Market was very volatile in yesterdays session. The sartorial indices performed as follow Consumer Durables [up 29.87pts] Capital Good [up pts], PSU [up 35.12pts], FMCG [up 75.84pts], Realty [down 1.23Pts], Power [up 4.48pts], Auto [up 60.91pts], Healthcare [up 7.35pts], IT [up 110.14pts], Metals [up 75.56pts], TECK [up pts] Oil& Gas [up 61.03pts].

World Indices
Index DJl S&P 500 NASDAQ EURO STO FTSE 100 Nikkei 225 Hong Kong Value 16,103.30 1,836.25 4,263.41 3,131.67 6,838.06 14,865.67 22,568.24
CMP Change

% Change -0.19 -0.19 -0.10 +0.32 +0.37 +2.88 +0.78

% Chg

Top Gainers
Company

AMBUJACEM ACC ULTRATECH HCLTECH BPCL

162.30 1,068.80 1,799.00 1,540.00 362.20

CMP

9.55 60.90 96.95 67.10 15.40

Change

+6.25 +6.04 +5.70 +4.56 +4.44

% Chg

Top Losers
Company

BHARTIARTL RANBAXY DLF CIPLA MARUTI

Symbol

288.40 353.60 142.30 368.50 1,672.70

Prev. Close

8.50 7.20 1.35 2.70 10.60

Change

-2.86 -2.00 -0.94 -0.73 -0.63

%Chg

Stocks at 52 Weeks high

BALPHARMA ESSDEE GLAXO HCLTECH 31.85 728.40 3,028 1,540
Prev. Close

1.50 11.75 10.55 67.10

Change

+4.94 +1.64 +0.35 +4.56

%Chg

Stocks at 52 Weeks Low

Symbol

CORPBANK UNITEDBNK

222.80 24.50
CMP

-5.35 0.30
Change

-2.34 +1.24
% Chg

Indian Indices
Company

NIFTY SENSEX

6,155.45 20,700.75

64.00 164.11

+1.05 +0.80

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DAILY REPORT
24th FEBRUARY. 2014

EQUITY CASH & FUTURE

STOCK RECOMMENDATIONS [FUTURE] 1. JSWSTEEL

STOCK RECOMMENDATION [CASH] 1. GEOMETRIC LTD.

JSWSTEEL FUTURE is looking strong on charts, long build up has been seen, we may see more upside, if it sustains above 885 levels. We advise buying around 880-885 levels with strict stop loss 868 for the targets of 895-905 levels. 2. AXIS BANK

GEOMETRIC LTD is looking strong on charts. We advise buying above 110 levels with strict stop loss of 100 for the targets of 120-125 levels.

AXIS BANK FUTURE is looking strong on charts, long build up has been seen, we may see more upside, if it sustains above 1200 levels. We advise buying above 1200 levels with strict stop loss 1165 for the targets of 1230-1250 levels.

MACRO NEWS Milk prices rise but export subsidy on milk powder stays India doubles Iran oil imports in Jan from Dec. Coal Ministry received 32 applications from companies in response to notice inviting applications for allocation of 4 coal blocks on tariff-based bidding. Local drug firms beat MNCs in growth during 2013. World's steel output drops, India's unchanged in Jan: A marginal dip in Chinese output led to fall in world's steel production by 0.4% to 129.78 million tonnes (MT) even as India maintained its volumes at 6.95 MT in January. India is stuck in a rut as weaker consumption and stalled investments prevent economy from building any sort of momentum, HSBC said in a report, adding slow recovery could start post elections. HSBC for now is underweight on Indian equities but some of its preferred sectors include energy which is likely to gain from subsidy changes, power (stands to benefit from distribution reform), nonferrous metals (corporate restructuring) and telecoms (more clarity post the auctions).

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DAILY REPORT
24th FEBRUARY. 2014

FUTURE & OPTION

MOST ACTIVE PUT OPTION

Symbol Op- Strike tion Price Type LTP Traded Volume (Contracts) Open Interest

NIFTY NIFTY NIFTY BANKNIFTY SBIN AXISBANK TATAMOTORS INFY

Symbol

PE PE PE PE PE PE PE PE
Option Type

6,100 6,000

12.3 3.55

5,67,682 2,41,004 35,499 4,389 3,236 2,403 2,006

Traded Volume (Contracts)

63,40,550 21,62,250 2,91,275 6,32,750 4,39,750 11,02,000 1,92,875

Open Interest

3,76,104 1,08,01,950

6,200 52.95 10,400 1,450 1,150 390 3,700

Strike Price

51 4.3 3.5 2.3 5.7

LTP

STOCKS IN NEWS Punjab National Bank evinces interest in opening 2 branches in Pakistan. Tata Motors to cut vehicle prices by upto Rs 1.5 lakh. Renuka- Wilmar deal disappoints on low valuation, high equity dilution. HCL again denies talks of stake sale post WSJ report. IFC plans to invest $25 mn in Asia Environmental Partners. Cholamandalam to raise Rs 315 crore from IFC NIFTY FUTURE

MOST ACTIVE CALL OPTION

NIFTY NIFTY NIFTY SBIN AXISBANK RELIANCE

CE CE CE CE CE CE

6,200 6,100 6,150 10,600 1,550 1,200 820 42

15 70.05 35.75 75 5.4 9.7 4.1 0.65 BUY

4,90,263 51,43,900 4,30,555 34,51,700 1,56,926 16,41,900 39,897 3,765 2,07,900 6,466 10,16,625 2,84,250 Nifty Future closed in the green in the last trading ses3,480 10,24,250 sion. We advise buying around 6120 levels with strict stop loss of 6080 for the targets of 6150-6180 levels. 3,126 67,52,000 SELL OPEN INTEREST AT THE END OF THE DAY Amount in Crores 12420.97 49492.07 31997.15 2087.26 TOTAL NET AMOUNT 230.52 226.57 35.23 -84.56 407.75

BANKNIFTY CE

JPASSOCIAT CE

FII DERIVATIVES STATISTICS

No. of Amount in No. of Amount in No. of Contracts Crores Contracts Crores Contracts INDEX FUTURES INDEX OPTIONS STOCK FUTURES STOCK OPTIONS 64693 418135 188025 35470 1934.58 12479.81 5723.62 1063.40 57412 412749 187697 38192 1704.06 12253.24 5688.39 1147.96 411071 1619929 1069620 71254

INDICES
NIFTY NIFTYJUNIOR BANK NIFTY YOUR MINTVISORY

S2
6089.38 11950.14 10367.35

S1
6122.41 11991.69 10460.85

PIVOT
6141.03 12016.45 10522.8

R1
6174.06 12057.99 10616.3

R2
6192.68 12082.75 10678.25

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DAILY REPORT
24th FEBRUARY. 2014

COMMODITY MCX
COMMODITY ROUNDUP Gold futures trespassed the $1300 an ounce gushing up to near 4 month highs on back to back weak economic data releases from US which bolstered the case for slow rollback of the Fed's bond buying program. The international gold futures for April delivery have gained by as much as $73 or nearly 6% at $ 1332.4 an ounce in the month of February 2014, rallying to the highest levels since November 2013. In the year so far the metal has rallied by more than $100 after ending 2013 with disastrous losses of 28%. MCX Gold futures for April edged up towards Rs 30000 per 10 grams mark before witnessing some resistance. The global demand in 2013 declined 15% to 3,756 tonnes compared to 2012, while jewelry demand saw the largest volume increase since 1997 to full-year demand of 2,209 tonnes, up 17% year-on-year. The United States topped the official gold holdings with 8,134 tonnes, while China ranked 6th with 1,054 tonnes. India's gold demand remained buoyant in 2013 and rose by 13 % to 975 tonne compared to 2012, despite government putting in several restrictions to curb imports, according to a World Gold Council report. Gold demand in the country was 864 tonnes during 2012, according to data given in WGC 'Gold Demand Trends 2013' report. China became the largest gold market in the world for the first time in 2013, noted the WGC. Demand for gold in China set a remarkable new record of 1,066 tonnes, a rise of 32% year on year, The refined Copper imports of China increased sharply in January. The Lunar New Year in February induced buyers to import Copper and stock it in the month of January 2014. MCX Copper was trading in a dull zone. The prices of February contract were down by 0.29% to Rs 448.45 per kg. COMEX Copper for March expiry was trading at $ 3.2715 per pound, down 0.07 cents. A marginal dip in Chinese output led to a fall in worlds steel production by 0.4 per cent to 129.78 million tonnes (MT) even as India maintained its volumes at 6.95 MT in January. Chinese production declined by 3.2 percent to 61.6 MT in January compared to 63.62 MT a year earlier. The fall in total output in the worlds largest steel producing nation also caused a 1.5 percent dip in Asian contribution to the global production.

RECOMMENDATIONS SILVER

TRADING STRATEGY: BUY SILVER ABOVE 47700 TGTS 47900/48200 SL 47350 SELL SILVER BELOW 47250 TGTS 47000/46650 SL 47600 GOLD

TRADING STRATEGY: BUY GOLD(APR) ABOVE 29980 TGTS 30060/30200 SL 29860 SELL GOLD(APR) BELOW 29790 TGTS 29710/29610 SL 29910

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DAILY REPORT
24th FEBRUARY. 2014

NCDEX

RECOMMENDATIONS GUARGUM

NCDEX INDICES Index Value % Change

Castor Seed Chana Coriander Cotton Seed Oilcake Jeera Maize Feed/Industrial Grade Mustard seed Soy Bean Turmeric

4274 2993 9310 1568 11562.5 1221 3424 4010 7046

-0.07 +0.07 -0.06 -0.25 -0.17 +0.16 +0.32 +0.43 +0.40

BUY GUARGUM ABOVE 13350 TGTS 13410,13480 SL 13250 SELL GUARFUM BELOW 13180 TGTS 13120,13050 SL 13280 DHANIYA

NCDEX ROUNDUP China is now having the highest stock of rubber in its history, but the demand would continue to rise in future, said Ms. Sunny Song, Director, China Rubber Industry Association at the concluding day of the India Rubber Summit here on Friday. The leading commodities futures exchange in agro commodities and ferrous metals in India, has signed a Memorandum of Understanding with India Pulses and Grains Association (IPGA) to work in collaboration for increasing effectiveness of trade tools including lifting of trading restrictions through continuous dialogue with regulator and policymakers. The MOU was signed during the Pulses Conference 2014 being held in Goa, which was attended by the trade fraternity including the members of the IPGA. Soybean price trends in India and global markets have been divergent since the beginning of the season in October 2013 with gains witnessed in Indian markets, while global markets have been under pressure. Indian market will now follow global trends while weather in Argentina and Brazil will have a major impact on prices. Support levels for Soybean March contract at NCDEX is seen at Rs 3700,3850 while resistance is seen at Rs 4120, 4250. Global production of soybeans is estimated at 287 mn tons for 2013-14 season, a

BUY DHANIYA ABOVE 9230 TGTS 9260,9310 SL 9180 SELL DHANIYA BELOW 9140 TGTS 9170,9220 SL 9090

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DAILY REPORT
24th FEBRUARY. 2014

CURRENCY

RBI Reference Rate

Currency Rate Currency Rate

Rupee- $ Euro JPY/INR

62.1618 Yen-100 85.2685 GBP

60.6600 103.4435

CURRENCY ROUNDUP The rupee on Friday appreciated for first time in three sessions to end 11paise higher at 62.12 vs dollar on selling of American currency by banks and exporters, amid FII inflows fuelling a rebound in shares. After falling about 39paise in the previous two days, the rupee resumed higher at 62.19 per dollar as against the last closing level of 62.23 per dollar at the Interbank Forex. It firmed up further to 62.05 per dollar, before settling at 62.12, a daily gain of 11paise or 0.18%. Rupee edged up further to 103.60 against the pound sterling from 103.61 previously. It advanced further to 85.15 per euro from 85.21. The rupee recovered sharply against the 100 Japanese yen to 60.63 from 61.05 yesterday. The dollar was steady to higher against the other major currencies on Friday, as investors awaited the release of U.S. home sales data later in the day, while Thursday's upbeat economic reports continued to support. The dollar was little changed against the euro, with EUR/USD down 0.04% to 1.3713. The dollar remained supported after the Department of Labor on Thursday said the number of people who filed for unemployment assistance in the U.S. last week fell by 3,000 to 336,000, slightly below expectations for a decline of 4,000. The Labor Department also said U.S. consumer prices rose 1.6% on a year-over-year basis in January, in line with forecasts. Consumer prices were 0.1% higher from a month earlier, also matching forecasts. The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.10% to 80.40. Later in the day, the U.S. was to release private sector data on existing homes sales. Sterling was down against the euro, with EUR/GBP up 0.21% to 0.8255, and up against the yen, with GBP/JPY up 0.26% as 170.76. The yen came under pressure after the minutes of its January policy meeting released earlier revealed that the Bank of Japan decided to avoid any misunderstanding about its monetary easing program, the bank needed "to provide a clear explanation that it did not strictly set this to end in two years."

SELL JPY/INR BELOW 60.47 TGTS 60.34, 60.20 SL 60.77. BUY JPY/INR ABOVE 61.08 TGTS 61.21, 61.35 SL 60.79. EUR/INR

SELL EUR/INR BELOW 85.04 TGTS 84.90, 84.75 SL 85.35. BUY EUR/INR ABOVE 85.60 TGTS 85.74, 85.89 SL 85.29.

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DAILY REPORT
24th FEBRUARY. 2014

CALL REPORT
PERFORMANCE UPDATES

Date 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14 21/02/14

Commodity/ Currency Pairs MCX GOLD MCX GOLD MCX SILVER MCX SILVER NCDEX CASTOR SEED NCDEX CASTOR SEED NCDEX DHANIYA NCDEX DHANIYA GBP/INR GBP/INR EUR/INR EUR/INR

Contract APR. APR. MAR. MAR. MAR. MAR. APR. APR. FEB. FEB. FEB. FEB. CASH/ FUTURE/ OPTION FUTURE FUTURE FUTURE CASH FUTURE FUTURE FUTURE FUTURE CASH FUTURE CASH CASH

Strategy BUY SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY

Entry Level 29950 29790 47700 47100 4200 4140 9020 8930 103.54 104.19 85.16 85.93

Target 30030-30130 29710-29610 47900-48200 46900-46600 4230-4280 4110-4060 9050-9100 8900-8950 103.40-103.25 104.33-104.48 85.02-84.87 86.07-86.22

Stop Loss 29830 29910 47350 47450 4150 4190 8970 8980 103.85 103.68 85.47 85.62

Remark

SL TRIGGEERD
NOT EXECUTED NOT EXECUTED NOT EXECUTED

BOOKED FULL PROFIT NOT EXECUTED BOOKED FULL PROFIT NOT EXECUTED
BOOKED FULL PROFIT NOT EXECUTED NO PROFIT NO LOSS NOT EXECUTED

Date

Scrip

Strategy

Entry Level

Target

Stop Loss

Remark

21/02/14 21/02/14 21/02/14 21/02/14 20/02/14 20/02/14 19/02/14 18/02/14 17/02/14 14/02/14 13/02/14 10/02/14

NIFTY CENTURY TEXTILE APOLLO TYRE TATA SPONGE NIFTY TCS ARVIND M&M AMTEK INDIA HINDALCO RPG LIFE SCIENCES KRBL

SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY

6150 308-310 121-122 400-410 6120 2200-2220 142 940 64-65 100 52-55 45-46

6110-6080 314-318 124-126 420-430 6150-6180 2250-2300 148-152 960-980 70-75 97-95 59-64 50-54

6180 305 118 385 6100 2150 140 920 60 103 47 40

BOOKED PROFIT BOOKED FULL PROFIT NOT EXECUTED BOOKED PROFIT CALL OPEN CALL OPEN BOOKED PROFIT CALL OPEN CALL OPEN CALL OPEN BOOKED PROFIT CALL OPEN

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24th FEBRUARY. 2014

ECONOMIC CALENDAR

NEXT WEEK'S U.S. ECONOMIC REPORTS TIME (ET) REPORT PERIOD ACTUAL CONSENSUS FORECAST PREVIOUS

MONDAY, FEB. 24 NONE SCHEDULED TUESDAY, FEB. 25 9 am 9 am 10 am Case-Shiller home price index FHFA home price index Consumer confidence Dec. Dec. Feb. WEDNESDAY, FEB. 26 10 am New home sales Jan. THURSDAY, FEB. 27 8:30 am 8:30 am 10 am Weekly jobless claims Durable goods orders Janet Yellen testimony at Senate FRIDAY ,FEB 28 8:30 am 9:45 am 9:55 am 10 am GDP revision Chicago PMI UMich consumer sentiment Pending home sales 4Q Feb. Feb. Jan.
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--80.5

13.7% y-o-y 7.6% 80.7

405.000

414,000

2/22 Jan.

N/A -2.5%

336,000 -4.2%

2.4% 56.0 81.5 --

3.2% 59.6 81.2 -8.7%

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