ICICI Securities Ltd.

| Retail Equity Research

Market Outlook
Snapshot
Equity benchmarks continued the buoyant mood and ended the pre-Diwali trading session on a strong note
buoyed by a rally in global markets and positive momentum from the reform measures announced by the
government. The benchmarks posted nominal gains in the special one hour Muhurat Trading session on Thursday
to begin Samvat 2071 on a positive note. The BSE Sensex posted cumulative gains of 271 points or 1.02%
combining Wednesday and Thursdays up move while the NSE Nifty posted a cumulative gain of 87 points or
1.09% to settle at 8014. Broader markets outperformed the benchmarks on Wednesday as well as in the Muhurat
session as the BSE midcap and small cap indices posted cumulative gains of 2% and 2.5%, respectively
Days action
The Nifty posted a second strong gap up opening on Wednesday led by strong global cues and, thereafter,
consolidated in a narrow range between 7975 and 8000. The index reclaimed the psychologically important
8000 peak in the Muhurat session to begin Samvat 2071 on an optimistic note. All major sectoral indices
closed in the green on Wednesday as well as in Thursdays session. Gains were led by the Auto index that
rose 3% on Wednesday followed by capital goods, healthcare and consumer durables indices that rose 1-2%
The price action formed a Doji candle on Wednesday as the index remained rudderless after a strong open. It
carries a 47 point strong bullish gap below its base between 7974 and 7927. Meanwhile, Thursdays session
resulted in a small bodied candle with yet another bullish gap below its base between 7995 and 8008
Structurally
speaking
The Nifty continued to ride the renewed positive momentum in Wednesdays trade and extended gains in the
one hour Muhurat trading session on Thursday. The index has formed three bullish gaps in four trading
sessions during the truncated week, which highlights the revival of bullish momentum after the recent
correction. The strong market breadth also reflects a buoyant sentiment. We believe the index has signalled
resumption of the upward momentum after concluding a healthy corrective phase at last weeks low of 7723.
We expect the index to challenge its recent life-time high of 8180 in the short-term
The index completely recouped its previous three weeks fall (8031 to 7723) in just over three trading sessions
to signal a faster retracement of its last falling segment. Further, the current pullback (291 points) is the largest
since the index entered a corrective phase after hitting the life-time high of 8180, which indicates bulls are
regaining the upper hand after a brief pause
As highlighted in earlier editions, the current decline was seen as counter trend correction within the larger
uptrend. The last up move from August low of 7540 to September high of 8180 consumed just 19 sessions.
Meanwhile, the index took 25 sessions to retrace the preceding rise by about 61.8%. Larger time wise
correction and limited price correction form the key ingredients of a healthy corrective phase and highlight the
overall positive price structure
Oscillators
Among oscillators, the 14 period RSI is in rising trajectory after generating a positive crossover above its nine
period average and indicates continuance of upward momentum in the coming sessions
Intraday -
strategy
The index is set to open on a flat to positive note tracking mixed global cues. Create intraday longs in the range of
8010-8020 for upside towards 8060 with a protective stop loss of 7990
Domestic Indices
Indices Close Change Change%
S&P BSE Sensex 26851.05 271.77 1.02
CNX Nifty 8014.55 86.80 1.09
Nifty future 8023.85 79.60 1.00
S&PBSE 500 10254.70 139.11 1.38
S&PBSE Midcap 9673.03 208.09 2.20
S&PBSE Smallcap 10662.65 283.14 2.73
*changes are inclusive of Wed & Muhurat trading

Global Indices
Indices Close Change Change%
Dow Jones 16805.41 127.51 0.76
Nasdaq 4483.72 30.92 0.69
FTSE 6388.73 -30.42 -0.47
DAX 8987.80 -59.51 -0.66
Hang Seng 23047.99 -268.32 -1.15
Nikkei 15372.54 82.47 0.54
SGX Nifty 8045.00 25.00 0.31
* Asian Market at 7:30 am.IST

CNX Nifty Technical Picture
Nifty Intraday Short Term
Trend Up Up
Trend Reversal 7990 7650
Support 7990-7965 7650
Resistance 8050-8080 8200
20 Days EMA 7927
200 days EMA 7280


Institutional Activity
Cash Segment (| Cr) FII DII
23-Oct-14 -12.4 10.9
22-Oct-14 7.5 375.6
21-Oct-14 32.4 68.9
20-Oct-14 1,040.1 -166.1
17-Oct-14 -1,430.0 737.3

Momentum Picks
October 27, 2014
ICICI Securities Ltd. | Retail Equity Research


Page 2


Exhibit 1: CNX NSE Nifty Daily Candlestick Chart

Source: Bloomberg, ICICIdirect.com Research
Intraday Spot
levels
The Nifty spot has resistance at 8050, 8080 while support is at 7990, 7965

CNX Nifty Spot
Open High Low Close
8027.70 8031.75 8008.85 8014.55



RSI is in rising trajectory after generating a positive crossover above its
nine period average indicates continuation of bullish momentum
100 day SMA 80% @ 7668
Bullish gap @ 7654-7635
Gap @ 7856-7770
Three week fall reversed in just over
three sessions signals faster
retracement
Gap @ 7974-7927
The Nifty recouped previous three weeks decline
in faster time to indicate resumption of upward
momentum. We expect the index to challenge its
life high of 8180 in the short term
ICICI Securities Ltd. | Retail Equity Research


Page 3
CNX Bank Nifty Futures Outlook



Days action
The Bank Nifty futures surged to a record high of 16632 on Wednesday before paring gains to end on a flat
note ahead of the long weekend. The index remained rudderless in the special Muhurat trading session on
Thursday before finally ending at 16483 posting cumulative gains of 20 points
Days action
The Bank Nifty opened at a record high of 16632 on Wednesday led by global cues and renewed
optimism after the reform measures announced by the government. The index pared most gains and
ended flat as participants preferred to take profits after the recent strong gains
The price action on Wednesday resulted in a counter attack bear candle as the index opened at a new
high and later pared gains to close near the previous sessions close highlighting profit booking at
record highs. Meanwhile, Thursdays one hour trading session resulted in a small bodied candle,
which indicates a range bound market
Structurally
speaking
The Bank Nifty consolidated the strong gains registered in the first two session of the week and settled
at an all-time closing high of 16483 in the truncated week of trade. The index has outperformed the
benchmarks as it overhauled its entire September fall in faster time. While the decline from September
high of 16460 to 15180 consumed four weeks, the index vaulted to a new high of 16632 in just two
weeks, which highlights the strong bullish undertone
After the strong gains in the last two weeks, a round of sideways consolidation may not be ruled out.
However, the overall bias remains positive and the index appears on its course towards its higher
target of 16800 in the short-term being the confluence of value of the higher band of blue rising trend
channel and 138.2% retracement of the September decline (16364-15180)
The strong bullish gap area formed in Mondays session (15990) is likely to act as an immediate
technical support for the index. The momentum will remain in favour of bulls as long as Mondays
bullish gap area (15990) is held on a closing basis
The Bank Nifty formed a steady base around 15200 during the recent correction and posted a faster
retracement of the last falling segment, which highlights accumulation by stronger hands near the
15200 region. The overall medium-term price structure will remain positive above 15200. Only a faster
retracement of the most recent rally below 15200 will signal a change of trend
Oscillators
Among momentum indicators, the 14-day RSI as well as MACD (E-12/26/9) remain in a rising trajectory
above the respective trigger lines and signal continuance of upward momentum in the short-term.
However, the overbought nature of intraday oscillators may lead to range bound price activity albeit with a
positive bias in the coming sessions
Intraday Future
levels
For the upcoming session, Bank Nifty October futures has supports at 16390, 16260 while resistances are
at 16640, 16750
CNX Bank Nifty Futures

Indices Close Change change%
CNX Bank Nifty 16,483.7 20.5 0.1
*changes are inclusive of Wed & Muhurat trading


CNX Bank Nifty Spot Performance
Performance in %
Index Current 1M 3M 6M 12M
Bank Nifty 16,470.1 3.6 6.5 25.5 51.4


CNX Bank Nifty Future Technical Picture

Bank Nifty Intraday Short Term
Trend Up Up
Trend Reversal 16390 15500
Support 16390-16260 15500
Resistance 16640-16750 17100
20 Days EMA 15955
200 days EMA 14251


CNX Bank Nifty vs. Nifty
9500
10700
11900
13100
14300
15500
16700
2
3
-
O
c
t
1
-
O
c
t
1
5
-
S
e
p
2
7
-
A
u
g
8
-
A
u
g
2
2
-
J
u
l
4
-
J
u
l
1
8
-
J
u
n
2
-
J
u
n
1
5
-
M
a
y
2
8
-
A
p
r
6500
6800
7100
7400
7700
8000
8300
Bank Nifty (RHS) NSE (LHS)





ICICI Securities Ltd. | Retail Equity Research


Page 4



Exhibit 2: CNX Bank Nifty Generic Future Daily Candlestick Chart

Source: Bloomberg, ICICIdirect.com Research

CNX Bank Nifty Future
Open High Low Close
16515.00 16555.00 16470.30 16483.65


Bank Nifty turned rudderless after surging at life high of 16632 in
last weeks trade. We expect the index to head towards 16800
levels in the short term being upper band of the rising channel.
Bullish gap area formed on Monday at 15990 is likely to act as
immediate technical support for the index
RSI is seen trending up firmly within positive territory supporting bullish bias
15996
15750
14405
14755
89-day EMA
16364

15180
Gap @ 16190-15990
MACD is in rising trajectory after generating a bullish crossover above its 9 period average
ICICI Securities Ltd. | Retail Equity Research


Page 5
Trend Scanner






















Positive Trends

Scrip Name Close % Change 10-day SMA Delivery (%)
Colgate-Palmolive India Ltd 1722.60 0.66 1707.30 59.07
Network 18 Media & Investments Ltd 50.25 5.60 48.04 63.83
SKF India Ltd 1142.75 3.04 1114.20 92.83
Cipla Ltd/India 628.45 3.30 593.94 51.92
LIC Housing Finance Ltd 343.50 1.77 324.79 52.51
*Positive Trends as of Wednesday






Overbought Stocks Oversold Stocks

Stocks rising for 5 days & stochastic overbought Stocks falling for 5 days & stochastic oversold
Scrip Name LTP Stochastic Scrip Name LTP Stochastic
Oriental Bank 263.2 85.84 Berger paint 361 9.9
Axis Bank 425 94.6 CESC 674.8 17.81
*Overbought/Oversold as of Wednesday






Candlestick Patterns

Bullish Candlestick Formations Bearish Candlestick Formations
Bullish Engulfing Bearish Engulfing
Scrip Name Close Scrip Name Close
Coromandel 300.7 PTC 86.5
Bullish Continuation pattern Bearish Continuation pattern
ACC 1483.5 Havells 273.4
Bajaj Auto 2529.7
Divis Lab 1811.0
Tata Chemical 409.8
Tata Motors 515.7
Morning Star
Patel Engineering 90.7
* Candlestick Pattern based on price action of Wedensday

Note: For Candlestick pattern description please refer towards
end of the report.

Stocks hitting 52 week high
Scrip Name LTP
HeroMotocorp 3110.05
Ingersoll rand 841.5
Maruti 3165.5
Raymond 508.7
Tata Metaliks 170.7
Tube Investment 355.6
*52 week high of Thursday




Sectoral Indices Performance
Sector Close Points Chg % Change
Auto 18025.56 4.67 0.03
Banks 18857.52 34.78 0.18
BSE Small Cap 10662.65 158.5 1.51
Capital Goods 15139.90 83.40 0.55
Consumer Durables 9659.41 43.67 0.45
FMCG 7420.21 34.75 0.47
Healthcare 13921.69 78.86 0.57
IT 10156.75 13.87 0.14
Metals 11306.88 34.13 0.30
Mid Cap 9673.03 97.20 1.02
Oil & Gas 10798.05 73.47 0.69
Power 2082.81 2.19 0.11
PSU 8086.55 29.96 0.37
Real Estate 1488.69 2.61 0.18

Sectoral Indices - Monthly Performance (%)
-9.5
-3.5
-3.0
-2.3
-1.2
-0.7
-0.5
0.9
1.0
2.3
2.4
2.6
3.1
4.7
-14 -4 6
Real Estate
Metals
IT
FMCG
BSE Small Cap
Consumer Durables
Oil & Gas
Auto
Mid Cap
PSU
Power
Healthcare
Capital Goods
Banks
ICICI Securities Ltd. | Retail Equity Research


Page 6
Market Activity Report























Nifty Heat Map
IDFC
146.3
JSPL
0.8%
1,525.7
HCL Tech
Grasim
Ind
0.8%
3.5%
0.6%
Ambuja
Cement
ITC
161.9
0.3%
0.6%
0.4%
NMDC
350.4
Bajaj
Auto
2,529.7
RIL
2,433.3
1.3%
Ultratech
952.7
0.7%
Cairn
India
Ranbaxy HUL
597.5
Lupin
Bank of
Baroda
289.1 Reliance
Infra
0.1%
165.8
3,418.7
1.4%
0.2%
759.0
0.3%
217.6 ICICI
Bank
TCS
2,465.4
Hindalco
Bharti
Airtel
0.1%
0.5%
2,578.6
SBI
410.3
0.2%
BPCL
0.2%
1,263.7
0.2%
889.2
691.1
0.1%
1,390.9
0.2%
1,575.4
M&M
0.4% 0.3%
0.7%
149.3
146.7
NTPC
Dr Reddy
Sun
Pharma
0.2%
0.3%
3,805.1
403.5
1.0%
0.6%
Asian
Paints
ONGC
3,057.7 1,483.5
652.5
ACC
1.3%
Tata
power
JP Asso. PNB
L&T
Infosys
896.5
0.2%
934.6
HDFC
Bank
Tata Steel
1,558.5
459.1 810.1
0.5% 0.4%
-0.5%
-0.2%
3,110.1
HDFC Ltd
240.4 Tata
Motors
628.5
0.1%
Coal India
515.7
-0.2%
0.3%
0.2%
0.1%
352.3
1,031.6
88.1
0.2%
30.1
0.1%
Power
Grid
683.7 139.9
0.0% 0.0%
Cipla
579.6
0.0%
Indusind
Bank
423.8 Kotak
Bank
GAIL
481.7
1,061.6
-0.3%
-0.1%
Sesa Goa
Axis Bank
-0.4%
-0.2%
BHEL
248.9 3,165.5
Maruti
Hero
Moto
-0.4%
-0.2%
120.0
DLF
-0.7%



Exchange Cash Turnover (| crore)
1
7
,
4
0
0
1
7
,
0
0
6
1
5
,
8
1
8
1
6
,
2
9
3
1
4
,
2
9
4
2
,
6
0
0
3
,
2
3
5
3
,
0
9
6
3
,
4
0
8
3
,
1
1
3
2
,
6
1
8
6
,
5
0
7
0.00
8,000.00
16,000.00
24,000.00
1
6
-
O
c
t
1
7
-
O
c
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2
0
-
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c
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2
1
-
O
c
t
2
2
-
O
c
t
2
3
-
O
c
t
NSE Cash BSE Cash

NSE Derivatives Turnover (| crore)
2
4
1
,
2
9
7
2
5
6
,
1
3
7
2
9
6
,
5
3
2
2
3
2
,
7
9
8
2
2
5
,
5
2
5
3
2
,
4
0
1
0
100000
200000
300000
400000
16-Oct 17-Oct 20-Oct 21-Oct 22-Oct 23-Oct
NSE Derivative

Advances / Declines
BSE
3%
20%
77%
NSE
4%
17%
79%




Global Asset Classes

Global Currencies
Spot Close Prev.close % Chg
Rupee (|) 61.280 61.320 0.06
Dollar Index 85.575 85.732 -0.17
Euro 1.269 1.267 0.17
British Pound 1.610 1.609 0.07
Japanese Yen 107.990 108.160 0.17
Australian ($) 0.881 0.879 0.14
Swiss Franc 0.951 0.952 0.15


Global Treasury Yields

Closing Yield (%) Previous Yield (%)
India 10 year 8.36 8.36
US 10 Year 2.28 2.27
EURO 10 Year 0.89 0.90
GBP 10 Year 2.23 2.24
JPY 10 Year 0.46 0.47



Commodities US Dollar

Close Prev. Close %Chg
Gold/ounce 1231.73 1231.01 0.04
Copper /ton 6762 6752 0.12
Brent Crude/barrel 85.78 86.13 -0.41



ICICI Securities Ltd. | Retail Equity Research


Page 7
Stock recommendations for the day

Exhibit 3: Divis Laboratories (DIVLAB) Daily Candlestick Chart

Source: Bloomberg, ICICIdirect.com Research
A falling channel breakout and price bounced back taking
support at the 34 days EMA in the daily chart signalling
continuation of positive trend in the short term
Divis Laboratories (DIVLAB) October Future

CMP 1816.85
Comment :
Action :
Targets : 1841/1855/Higher
Stop-loss : 1802.00
Falling channel breakout in the daily chart and
price bounced back taking support at the 34
days EMA and RSI giving buy signal in the daily
chart
Buy in the range of 1815.00-1817.00




RSI giving buy signal and has recently given a bullish
crossover above its nine periods average in the daily chart
34 days EMA
ICICI Securities Ltd. | Retail Equity Research


Page 8

Exhibit 4: Tata Chemicals (TATCHE) Daily Candlestick Chart

Source: Bloomberg, ICICIdirect.com Research
Tata Chemicals (TATCHE) October Future

CMP 410.35
Comment :
Action :
Targets : 418/422/Higher
Stop-loss : 406.50
A trendline breakout and price taking support at
the 34 days EMA and MACD giving buy signal in
the daily chart
Buy above 410.50





A higher high in the daily chart and a trendline breakout signalling
bullish bias to continue in the short term

MACD has given a buy signal moving above signal line in the daily chart
34 days EMA
ICICI Securities Ltd. | Retail Equity Research


Page 9

Exhibit 5: Tata Global (TATTEA) Daily Candlestick Chart

Source: Bloomberg , ICICIdirect.com Research
Tata Global (TATTEA) October Future

CMP 158.10
Comment :
Action :
Targets : 161.00/162.50/Higher
Stop-loss : 156.50
Price bounced back taking support at the
previous low and 200 days SMA and a trendline
breakout joining previous highs in the daily chart
and bullish crossover in 14 periods RSI in daily
chart
Buy in the range of 157.75-158.30



Price bounced back taking support near previous low and 200 days SMA in the
daily chart and a trendline breakout joining immediate highs signalling reversal
of trend after recent corrective price action
A bullish crossover of the 14 periods RSI above its nine periods average thus validates
positive trend in price
200 days SMA
ICICI Securities Ltd. | Retail Equity Research


Page 10























Previous Days Performance
Scrip Product Strategy Recommended Price Targets SL Gain/Loss %* Comment
IDFC Future Buy above 146 149/150.5/+ 144.50 0.40 Closed at 146.70
Hindustan Unilever Future Buy In range of 750-752 761/766/+ 745.00 1.30 Target 1 achieved
IRB Future Buy above 244 249/251.5/+ 241.50 1.40 Closed at 247.50
Just Dial Future Sell below 1642 1621/1612/- 1655.00 0.20 Closed at 1638
* Return Opportunity



Stock profits: Avg 0.83% per trade (Cum. Profits over last 130 days:156.25%)


Strike Rate for the day: 4/4 (Cum strike rate over 130 days: 164/289





Note: The follow-up and performance review table of the strategies indicates the profit opportunity that was available in the strategies. Individual profits may vary,
depending upon the entry and exit price and stop losses.

ICICI Securities Ltd. | Retail Equity Research


Page 11
Derivative Comments
On the Muhurat trading day, the Nifty traded with a positive bias and managed to add another 20 points. Nifty futures premium
declined and settled at 9 points. India VIX fell 1.29% and settled at 12.86
FIIs sold | 13 crore while DIIs bought | 11 crore in the cash segment. FIIs bought | 751 crore in index futures and | 992 crore in
index options. In stock futures, they sold | 109 crore
The highest Put base is at the 7900 strike with 58 lakh shares while the highest Call base is at the 8100 strike with 65 lakh
shares. The 8100 and 8200 Calls witnessed addition of 1.73 and 6.90 lakh shares, respectively. The 8100 and 8000 Put strikes
saw addition of 2.75 and 22.20 lakh shares, respectively
Stock Analysis

OI addition: We saw long build-up in Maruti, Bajaj Auto, GAIL, Voltas India and Kotak Mahindra Bank while short build-up was
seen in ONGC, Havells India, Sun TV, M&M Finance and India Oil Corporation
OI shedding: We saw short covering in IDBI, Cairn India, Sesa Sterlite, Infosys and L&T whereas long closure was seen in TVS
Motors, SKS Micro, Coal India, Power Grid and PFC



Nifty Options OI Distribution
Nifty C all P ut C oncentration (O C T )
2
.
0
2
.
0
3
.
3
1
1
.
3
2
6
.
84
2
.
9
6
4
.
8
6
4
.
0
3
3
.
7
1
9
.
8
3
1
.
4
4
1
.
8
4
9
.
3
5
7
.
6
4
7
.
1
4
.
5
1
.
7
4
1
.
3
1
0
.
8
4
.
5
0
10
20
30
40
50
60
70
7
5
0
0
7
6
0
0
7
7
0
0
7
8
0
0
7
9
0
0
8
0
0
0
8
1
0
0
8
2
0
0
8
3
0
0
8
4
0
0
O
I

i
n

L
a
c
s
C all P ut

Nifty OI vs. Future Price

1
6
.
4
1
6
.
6
1
6
.
6
1
7
.
3
1
7
.
4
1
7
.
5
1
6
.
5
1
6
.
0
1
5
.
9
1
5
.
7
1
7
.
2
1
8
.
1
1
9
.
0
1
9
.
7
5
7
9
11
13
15
17
19
21
2
9
-
S
e
p
3
0
-
S
e
p
1
-
O
c
t
7
-
O
c
t
8
-
O
c
t
9
-
O
c
t
1
0
-
O
c
t
1
3
-
O
c
t
1
4
-
O
c
t
1
6
-
O
c
t
1
7
-
O
c
t
2
0
-
O
c
t
2
1
-
O
c
t
2
2
-
O
c
t
O
I

I
n

m
i
l
l
i
o
n
7700
7800
7900
8000
8100
8200
8300
Nifty F utures O I Nifty F ut P rice (R HS)

Nifty Active Strikes
Strike O I chg % IV (% ) O I chg % IV (% )
7700 -19.01 11.57 -24.53 14.57
7800 -29.48 11.19 -22.27 12.90
7900 -26.41 10.92 0.79 11.46
8000 -27.38 10.97 88.91 10.64
8100 2.74 11.00 34.30 9.57
C all (% ) P ut (% )
OI Gainers
Symb o l O I(L o ts) % C h P r i ce % C h g
MAR UT I 2381875 16.68 3,189.3 3.46
O NG C 25516000 14.90 401.2 -2.03
HAVE L L S 4875000 13.67 268.7 -3.76
SUNT V 2487000 13.25 311 -0.18
BAJAJ-AUT 1674000 12.61 2506.35 3.47


OI Losers
Symbo l O I(L o ts) % C h g P r i ce % C h g
T VSMO T O R 3876000 -10.61 255.8 -1.50
SK SMIC R O 3219000 -5.30 316.1 -0.39
IDBI 21596000 -5.05 67.1 1.28
C AIR N 14977000 -3.75 288.8 3.40
SSL T 18696000 -3.58 249.9 0.28


ICICI Securities Ltd. | Retail Equity Research


Page 12

Support and Resistance
SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND
SENSEX 26851.05 26860.35 26834.7 26809.1 26911.65 26982.4 27053.2 +ve
NIFTY 8014.55 8016.45 8010.75 8005.00 8027.90 8050.45 8073.00 +ve
ACC 1483.45 1480.95 1479.15 1469.15 1484.55 1486.35 1496.35 Neutral
ADANI ENTER. 473.95 472.95 471.75 468.30 475.35 476.55 480.05 Neutral
ADANI POWER 45.90 45.90 45.75 45.60 46.15 46.40 46.65 +ve
ADITYA BIRLA 1696.35 1696.40 1693.15 1689.90 1702.95 1718.30 1733.65 +ve
ALLAHABAD BANK 107.35 107.15 106.95 105.85 107.60 107.85 108.90 Neutral
ANDHRA BANK 75.60 75.40 75.15 74.75 75.95 76.25 76.60 Neutral
APOLLO HOSPITALS 1071.15 1071.30 1068.10 1064.90 1077.65 1088.05 1098.45 +ve
APOLLO TYRES 219.10 218.00 216.50 215.00 219.40 220.10 220.85 -ve
ARVIND 297.10 296.55 295.90 294.05 297.85 298.50 300.35 Neutral
ASHOK LEYLAND 45.75 45.60 45.30 44.95 46.25 46.45 46.70 +ve
ASIAN PAINTS 652.45 652.55 651.20 649.80 655.30 663.00 670.70 +ve
AUROBINDO PHARMA 964.35 961.90 958.45 951.90 968.85 972.35 978.90 Neutral
BAJAJ AUTO 2529.70 2524.95 2512.20 2499.45 2550.45 2574.60 2598.75 +ve
BOB 889.20 887.95 886.35 882.50 891.15 892.75 896.60 Neutral
BOI 266.95 265.10 263.25 261.45 267.25 268.30 269.40 -ve
BATA INDIA 1255.05 1255.70 1251.20 1246.75 1264.70 1270.45 1276.20 +ve
BHARAT FORGE 768.60 767.70 764.75 761.80 773.65 776.70 779.75 +ve
BPCL 691.10 690.50 689.75 686.35 691.95 692.65 696.10 Neutral
BHARTI AIRTEL 410.25 409.00 407.90 405.95 411.10 412.20 414.15 Neutral
BIOCON 479.95 479.85 478.75 477.65 482.05 486.20 490.35 +ve
CAIRNS INDIA 289.05 289.45 288.60 287.70 291.15 295.00 298.85 +ve
CANARA BANK 386.40 385.85 385.05 381.65 387.45 388.25 391.60 Neutral
CENTURY TEXT. 535.65 534.70 533.50 530.85 537.10 538.30 540.95 Neutral
CESC 683.65 682.65 679.95 677.25 688.05 693.80 699.55 +ve
CHAMBAL FERT. 61.05 60.70 60.35 59.80 61.30 61.60 62.20 Neutral
CIPLA 628.45 626.70 624.40 618.05 631.35 633.70 640.05 Neutral
COAL INDIA 352.30 350.00 348.50 347.00 352.80 354.20 355.60 -ve
COLGATE PALM. 1722.60 1722.20 1719.60 1717.05 1727.35 1734.75 1742.20 +ve
CROMPTON GREAVES 188.50 188.40 187.85 187.30 189.55 190.75 191.95 +ve
DABUR INDIA 215.85 215.90 215.40 214.95 216.90 218.85 220.85 +ve
DISH TV 56.60 56.20 56.05 55.90 56.60 56.80 57.00 -ve

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SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND

DIVI'S LAB. 1810.95 1807.45 1798.70 1789.95 1824.95 1835.90 1846.80 +ve
DLF 119.95 119.50 118.90 117.05 120.70 121.30 123.15 Neutral
DR.REDDY'S LAB. 3057.65 3056.80 3052.75 3048.70 3064.90 3088.65 3112.35 +ve
EXIDE IND. 159.55 159.35 158.40 157.45 161.20 163.15 165.10 +ve
FEDERAL BANK 141.75 141.60 141.40 140.40 142.00 142.20 143.25 Neutral
FUTURE RETAIL 113.70 113.50 113.00 112.55 114.45 115.35 116.30 +ve
GAIL 481.65 479.65 476.95 474.20 481.75 482.80 483.80 -ve
GLAXO SMITH.C.H. 5321.20 5316.05 5299.95 5283.80 5348.25 5378.25 5408.25 +ve
GLENMARK PHARMA. 714.85 713.85 711.40 709.00 718.75 722.40 726.10 +ve
GMR INFRA. 21.40 21.25 21.20 21.00 21.45 21.55 21.75 Neutral
GODREJ CONSUMER 947.95 947.30 945.30 943.35 951.30 956.15 961.00 +ve
GODREJ IND. 293.35 293.05 292.30 291.55 294.55 296.30 298.05 +ve
GRASIM 3418.70 3419.60 3411.60 3403.60 3435.60 3458.50 3481.40 +ve
AMBUJA CEMENT 217.55 217.25 216.90 215.75 217.95 218.35 219.45 Neutral
HAVELL'S INDIA 273.40 273.20 272.30 271.45 274.90 280.05 285.20 +ve
HCL TECH 1525.65 1526.10 1522.15 1518.20 1534.05 1541.00 1547.95 +ve
HDFC BANK 896.45 894.50 893.00 889.25 897.40 898.85 902.65 Neutral
HDFC 1031.55 1029.45 1027.40 1022.95 1033.50 1035.50 1040.00 Neutral
HERO MOTO 3110.05 3100.05 3088.05 3057.00 3124.05 3136.05 3167.05 Neutral
HEXAWARE TECH. 186.70 186.60 186.10 185.55 187.60 189.35 191.05 +ve
HINDALCO 149.25 149.30 149.10 148.85 149.80 151.30 152.80 +ve
HIND. UNILEVER 758.95 756.20 753.85 750.90 760.90 763.25 766.25 Neutral
HPCL 526.60 526.45 525.20 523.95 528.95 531.75 534.60 +ve
HINDUSTAN ZINC 164.70 164.25 163.75 163.05 165.30 165.85 166.50 Neutral
HDIL 76.45 76.20 75.95 75.30 76.70 76.95 77.60 Neutral
ICICI BANK 1575.35 1572.15 1568.85 1560.95 1578.80 1582.15 1590.00 Neutral
IDBI 67.20 67.05 66.90 66.35 67.40 67.60 68.15 Neutral
IDEA CELLULAR 160.95 160.65 160.35 159.30 161.25 161.50 162.60 Neutral
NSE INFRA DEV FINANC 146.25 146.00 145.75 145.15 146.50 146.70 147.30 Neutral
IFCI 35.30 35.20 35.10 34.90 35.35 35.40 35.60 Neutral
ORACLE FIN. 3174.40 3151.30 3135.95 3120.60 3173.75 3184.95 3196.20 -ve
INDUSIND BANK 683.65 681.75 679.35 676.80 686.55 688.95 691.55 Neutral
INDIA CEMENTS 111.30 110.85 110.55 109.85 111.55 111.90 112.60 Neutral
INDRAPRASTHA GAS 414.20 412.90 411.30 409.25 416.15 417.80 419.85 Neutral

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Page 14
SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND
IOC 364.05 363.35 362.70 359.20 364.60 365.20 368.70 Neutral
IOB 60.65 60.50 60.30 59.95 60.90 61.10 61.40 Neutral
IB REAL ESTATE 66.10 66.00 65.85 65.70 66.35 67.10 67.80 +ve
INFOSYS 3805.05 3805.15 3801.05 3797.00 3813.30 3823.30 3833.30 +ve
IRB INFRA. 246.40 245.95 245.25 243.90 247.35 248.05 249.40 Neutral
ITC 350.40 349.80 349.25 348.10 350.90 351.40 352.60 Neutral
JAIPRAKASH ASS. 30.10 30.00 29.85 29.60 30.25 30.35 30.65 Neutral
J.P.POWER VENT. 12.65 12.60 12.50 12.40 12.70 12.75 12.90 Neutral
JAIN IRRIGATION 84.40 84.20 83.80 83.35 85.05 85.70 86.35 +ve
JINDAL ST&POW 165.80 165.70 164.30 162.90 168.50 174.25 180.00 +ve
JSW ENERGY 75.50 74.75 74.35 73.90 75.65 76.10 76.55 -ve
NSE JSW STEEL 1204.55 1202.60 1200.30 1191.85 1207.10 1209.40 1217.85 Neutral
JUBILANT FOOD 1333.10 1325.60 1319.75 1296.95 1337.35 1343.25 1366.05 Neutral
KARNATAKA BANK 118.90 118.95 118.60 118.20 119.65 120.55 121.45 +ve
KOTAK MAH.BANK 1061.55 1058.90 1055.60 1042.05 1065.45 1068.75 1082.30 Neutral
L & T 1558.45 1555.60 1552.60 1540.60 1561.65 1564.65 1576.65 Neutral
LIC HOUSING 343.50 343.40 342.80 342.25 344.55 347.10 349.70 +ve
NSE LUPIN 1390.85 1391.10 1387.90 1384.70 1397.45 1404.55 1411.65 +ve
M & M 1263.70 1263.65 1259.40 1255.15 1272.15 1281.10 1290.10 +ve
MARUTI SUZUKI 3165.50 3158.80 3149.15 3120.85 3178.05 3187.65 3216.00 Neutral
UNITED SPIRITS 2605.95 2598.45 2590.70 2569.80 2613.90 2621.60 2642.55 Neutral
MCLEOD RUSSEL 248.15 248.10 247.25 246.40 249.75 251.30 252.85 +ve
M&M FIN.SERV. 281.05 280.50 279.30 278.10 282.85 285.85 288.85 +ve
MRF 30887.75 30889.85 30842.85 30795.90 30983.80 31063.40 31142.95 +ve
ADANI PORTS SEZ 270.00 270.10 269.50 268.90 271.25 273.25 275.25 +ve
NSE NHPC 20.25 20.15 20.10 19.90 20.35 20.40 20.60 Neutral
NMDC 161.90 161.40 160.95 159.90 162.25 162.65 163.75 Neutral
NSE NTPC 146.70 146.40 146.00 145.20 147.20 147.55 148.40 Neutral
ONGC 403.45 403.30 402.40 401.45 405.15 409.45 413.75 +ve
OBC 263.30 262.95 262.25 259.55 264.25 264.90 267.65 Neutral
PETRONET LNG 197.65 197.05 196.30 194.75 198.50 199.25 200.80 Neutral
POWER FINANCE 272.85 272.50 271.85 269.00 273.75 274.35 277.20 Neutral
POWER GRID 139.85 139.65 139.45 138.80 140.15 140.40 141.00 Neutral
POWER TRADING 86.45 86.20 85.90 84.95 86.80 87.10 88.05 Neutral


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Page 15
SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND

PNB 934.60 933.60 932.25 926.65 936.35 937.75 943.30 Neutral
RANBAXY 597.50 597.90 596.55 595.15 600.65 604.45 608.25 +ve
RCOM 103.20 103.05 102.85 102.35 103.45 103.65 104.10 Neutral
REL. CAPITAL 466.55 465.70 464.70 461.55 467.70 468.65 471.85 Neutral
RELIANCE INFRA. 579.55 578.50 577.25 573.80 580.90 582.10 585.60 Neutral
RELIANCE 952.70 952.40 951.00 949.65 955.15 961.35 967.55 +ve
RELIANCE POWER 72.95 72.80 72.65 72.20 73.20 73.40 73.80 Neutral
REC 284.25 283.60 282.65 279.85 285.50 286.40 289.25 Neutral
SAIL 83.10 82.70 82.30 81.70 83.50 83.90 84.55 Neutral
SESA GOA 248.85 247.35 246.10 244.50 249.95 251.25 252.80 Neutral
SHRIRAM TRANS. 924.30 924.55 921.05 917.55 931.55 937.90 944.30 +ve
SIEMENS 858.85 855.55 852.45 844.30 861.70 864.80 872.95 Neutral
SBI 2578.55 2575.40 2570.45 2558.35 2585.25 2590.15 2602.30 Neutral
SUN PHARMA 810.05 810.25 809.35 808.45 812.05 817.10 822.15 +ve
SUN TV 310.70 311.10 310.10 309.05 313.15 316.10 319.05 +ve
SYNDICATE BANK 117.40 116.95 116.50 115.70 117.90 118.40 119.15 Neutral
TATA CHEMICALS 409.75 409.85 408.85 407.85 411.85 416.20 420.60 +ve
TATA MOTOR DVR 323.55 323.50 322.40 321.35 325.70 327.60 329.50 +ve
TATA MOTORS 515.65 513.85 509.05 504.25 516.05 517.15 518.25 -ve
TATA POWER 88.05 87.80 87.50 87.00 88.45 88.80 89.25 Neutral
TATA GLOBAL BEV. 158.35 158.25 157.80 157.30 159.20 159.85 160.50 +ve
TCS 2465.35 2464.05 2460.80 2457.55 2470.55 2485.25 2499.95 +ve
TECH MAHINDRA 2359.25 2357.35 2351.60 2345.85 2368.85 2381.70 2394.60 +ve
TATA STEEL 459.10 459.25 458.50 457.75 460.75 463.10 465.50 +ve
TITAN IND. 395.65 395.20 393.40 391.60 398.85 400.50 402.15 +ve
UCO BANK 81.10 80.75 80.35 79.85 81.50 81.90 82.40 Neutral
ULTRATECH CEMENT 2433.25 2432.30 2427.50 2422.70 2441.90 2454.65 2467.40 +ve
UBI 221.15 220.75 220.10 218.30 222.00 222.60 224.40 Neutral
UNITED BREW. 701.75 700.65 694.90 689.15 712.15 717.05 721.95 +ve
UNITED PHOSPH. 336.20 336.30 335.55 334.85 337.70 340.10 342.55 +ve
UNITECH 17.70 17.70 17.65 17.60 17.80 17.95 18.10 +ve
AXIS BANK 423.75 422.15 420.15 418.10 424.15 425.15 426.15 -ve
TATA COMM. 383.15 383.40 382.35 381.30 385.50 387.80 390.10 +ve
VOLTAS 241.30 240.75 240.00 237.55 242.35 243.15 245.55 Neutral

ICICI Securities Ltd. | Retail Equity Research


Page 16
SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND

WIPRO 560.25 555.00 546.75 538.50 559.90 562.35 564.80 -ve
NSE YES BANK 620.95 618.25 614.40 610.60 621.50 623.10 624.75 -ve
ZEE 337.50 335.65 332.70 329.75 338.00 339.20 340.35 -ve





















NOTES:

Please execute the recommendation within the levels provided in the report
Once the recommendation is executed, it is advisable to keep strict stop loss as provided in the report
Avoid entering into the recommendation in the first 5 min of trade
If the recommendation opens near the target levels due to gap up/gap down opening, then the recommendation
is considered not initiated
The recommendations are valid only for the day and should be squared off by the end of the day.
Only stocks in derivatives segment have been considered for daily trading.
Medium to long-term prospects of a stock does not have any bearing on the daily view.
Trading Portfolio allocation
It is recommended to spread out the trading corpus in a proportionate manner between the various technical
research products.
Please avoid allocating the entire trading corpus to a single stock or a single product segment.
Within each product segment it is advisable to allocate equal amount to each recommendation.
For example: The Momentum Picks product carries 3 to 4 intraday recommendations. It is advisable to allocate
equal amount to each recommendation



ICICI Securities Ltd. | Retail Equity Research


Page 17
Recommended Product wise Trading Portfolio allocation



Allocations Return Objective
Products Product wise
allocation
Max allocation
in 1 stock
Number of Calls
Frontline Stocks Mid-cap stocks
Duration

Daily Calls 8% 2-3% 3-4 Stocks 0.50-1% 2-3% Intraday

Short term Delivery 6% 3-5% 7-10 p.m 4-5% 7-10% Opportunity based

Weekly Calls 8% 3-5% 1-2 Stocks 5-7% 7-10% 1 Week

Weekly Technical 8% 3-5% 1-2 Stocks 5-7% 7-10% 1 Week

Monthly Call 15% 5% 2-3 Stocks 7-10% 10-15% 1 Month

Monthly Technical 15% 2-4% 5-8 Stocks 7-10% 10-15% 1 Month

Techno Funda 15% 5-10% 1-2 Stocks 10% and above 15% and above 6 Months

Technical Breakout 15% 5-10% 1-2 Stocks 10% and above 15% and above 3-6 Months

Cash in Hand 10% - - - - -

100%


ICICI Securities Ltd. | Retail Equity Research


Page 18
Candlesticks Glossary:
Candlestick patterns describe the market sentiment for the specified period. Some of the formations suggest reversal of sentiment
(trend) and, therefore, are important for a chart reader. By themselves, the patterns do not carry any price target but only an
indication of change in market behaviour. More importance needs to be given to the placement of the pattern within larger trend

Bullish Engulfing Line: A potential bottom reversal pattern. This pattern typically appears at the culmination of a decline or
downtrend. The market falls, and a black candle forms (ideally a small black candle). Next, a white real body wraps around the
prior sessions black body. Low of the pattern becomes short term support for prices

Piercing Line: Potential bottom reversal pattern. A black body forms in the downtrend. The market continues moving south on
the next sessions open but that session culminates in a white real body that closes (e.g. pierces) than half way or more into the
prior black body. Lowest low between two candles is referred to as technical support for prices

Hammer: A candlestick line which, during a downtrend, has a very long lower shadow and small real body (black or white) at the
top end of the sessions range. There should be no, or a very small, upper shadow. Pattern suggests buying support during
declines and needs confirmation in terms of sustainability of prices above head of the Hammer in following session

Bearish Engulfing Line: Potential top reversal signal. This two candlestick pattern emerges during a rally. A black candle real
body wraps around a white real body (classically a small white candle) Highest high between two candles becomes resistance
level for prices for future reference

Dark Cloud cover: A dark cloud cover forms a top reversal pattern. The first session should be a strong, white real body. The
second sessions price opens over the prior sessions high (or above the prior sessions close). By the end of the second session, it
closes near the low of the session and should fall well into the prior sessions white body. Pattern suggests that market has a poor
chance of rising immediately

Shooting Star: A single candlestick line during a rally in which there is a small real body (white or black) at the bottom end of the
session's range and a very long upper shadow. The candle line should also have little or no lower shadow. Pattern suggest the
trouble for prices overhead



ICICI Securities Ltd. | Retail Equity Research


Page 19








Pankaj Pandey Head Research pankaj.pandey@icicisecurities.com

ICICIdirect.com Research Desk,
ICICI Securities Limited,
1st Floor, Akruti Trade Centre,
Road No 7, MIDC
Andheri (East)
Mumbai 400 093
research@icicidirect.com


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