HEADLINES TODAY : China downgraded to

A1 by Moodys on worsening debt outlook; FOMC Market Radar

minutes, U.S. Existing Home sales (Apr) and EIA
Crude inventories data today; OPEC meeting 24-May-17
tomorrow

Opening Signals Previous day

Last* %Chg %Chg -1D %Chg -2D 9500 Nifty - Intraday

S&P 500 2398.42 0.18 0.52 0.68
9450
DAX 12659.15 0.31 -0.15 0.39
Shanghai 3061.947 -0.97 -0.45 -0.48 9400
Nikkei 19722.02 0.51 -0.33 0.45 9350
SGX Nifty 9410.5 0.03 -0.05 0.21
9300
Gold 1252.35 -0.12 0.37 0.11 9:15 10:10 11:05 12:00 19:23 13:51 14:45
Brent 54.19 0.22 0.48 2.09 Nifty - sectoral performance
1.00
Market Review & Outlook 0.00
Asian markets were trading on a mixed note today. The Nikkei gained close -1.00
to 100 points, Kospi up by 0.22 percent and the Taiwan weighted was -2.00
trading higher by 0.21 percent. The Shanghai index was down around a
-3.00
percent while the Hang Seng dropped nearly 40 points. Gold prices have
dropped close to 0.30 percent while Crude oil prices gained some strength -4.00
today over expectations of a favourable output policy by the OPEC nations FII / DII Investment - Eq (Cr)
in a meeting scheduled for Thursday at Vienna. The SGX Nifty futures was 4000
trading higher by 0.14 percent indicating a flat to positive start for the
Indian markets. 2000
Domestic markets ended on a weak note yesterday with benchmark index
Nifty settling down by 52 points. The midcap and smallcaps space also 0
ended the previous trading day with losses over one percent. Pharma and
-2000 DII FII
realty were the top losing sectors in yesterday's trade while the Auto index
gained close to 0.40 percent. With a stronger dollar, the IT index managed 22-May 19-May 18-May 17-May 16-May
to slightly peek above the flat line at close of trading hours yesterday. The
European markets finished mostly higher on Tuesday following strong Market Statistics
manufacturing and services estimates from the Eurozone and Germany. In Last %Chg %Chg -1D %Chg -2D
U.S., markets closed with an optimistic tone yesterday and investors
parsed through President Trump's proposed budget for the 2018 fiscal Turnover (Mln) 322265.09 17.53 -17.73 2.57
which came out Monday night. A strict budget announced by the Trump Del Vol (Mln) 605.84 -2.59 -11.43 -0.47
administration aims to cut $1.7 trillion in spending over the ten years by
restricting aids to programs like Medicaid, food stamps and federal Nifty VIX 12.20 8.93 -0.88 -4.09
student loans. The budget seeks an additional $25 billion for Defence and USDINR 64.9125 0.49 -0.18 -0.34
related activities. The Dow index rose close to 45 points while the S&P500
and Nasdaq gained 0.18 and 0.08 percent respectively. Advances 286 -42.45 -8.81 71.92

News Box

Aarti Drugs : 4Q profit 207.3m rupees vs 185.9m y/y
J.B. Chemicals : Approves buy back up to 1.25m shares at INR400 each

Essel Propack : 4Q profit 439.7m rupees vs 380m y/y through tender offer

Gail India : To get 5m tons of U.S. LNG in FY19
Karnataka Bank : Says ties-up with HDFC Capital AM for mutual fund

Adani may exit $16.5b coal mine without royalties deal: Canavan business

Tata Motors : 4Q net income 42.96b rupees, beat est. 25.8b
Earnings today: Adani Enterprises, Bharat Forge, Kaveri Seed, Lupin, Dish Earnings-next trading day: AshokLey, Britannia, Cipla, Heidelberg,
TV, Shalimar Paints Manappuram, Vadilal Industries
* last updated at 8:30 AM
 Technical Analysis

Index levels
1D% MTD% YTD% S2 S1 PP R1 R2
Nifty -0.55 0.88 14.66 9323 9355 9401 9433 9479
BankNifty -0.31 1.00 24.24 22357 22470 22605 22718 22853
Sensex -0.67 1.49 14.04 30137 30251 30431 30545 30725

Trader's picks

CONCOR RAJESHEXPO
LTP : 1221 LTP : 647.95

Action : BUY Action : BUY

Targets : 1239 / 1255 Targets : 658 / 670

Stop-loss : 1200 Stop-loss : 634

Comment : The underlying has broken above the Comment : The stock is close to the congestion
congestion resistance of 1230 and is likely to move towards resistance zone and alltime high of 650 and is likely to see a
1250-1265. MACD is about to cross the signal line from below breakout. MACD has moved above the signal line from below.
favoring more upsides.

TECHM 420CE MARICO 320CE

LTP : 3.25 LTP : 2.15

Action : BUY Action : BUY

Targets : 6/ 10 Targets :4/7

Stop-loss :1 Stop-loss :1

Comment : The option strike saw 23% rise in OI and
8% rise in premium hinting at long buildup. The underlying
seems to have turned around from 410 and is likely to continue
the reversal. Momentum indicators are coming off the oversold
region.
Comment : The option strike saw 42% rise in OI and
115% rise in premium hinting at long buildup. The underlying has
taken support around the 50 DMA of 310 and is likely to see a
bounce back. MACD is about to break the signal line from below.
 The following stocks have been picked for intraday trading using 9 technical set ups. However, further analyses, guidance
and judicious use of stop losses are highly recommended.

Late gainers
Having moved up strongly in Stock LTP %Chg S2 S1 R1 R2
the last hour of the trade and
closed near yesterdays high, WIPRO 526 1.00 492 509 519 536
these stocks could continue M&M 1332 1.95 1253 1292 1339 1379
uptrend today. Ideal approach
would be to buy with initial GSKCONS 5282 -0.37 5197 5240 5294 5336
rallies, and to stay away if
TATACOMM 670 -0.11 625 647 670 693
opening moves take the prices
steeply higher or lower.

Late losers
Stock LTP %Chg S2 S1 R1 R2
Having fallen swiftly in the last
hour and closed near INFY 957 -0.43 927 942 973 989
yesterdays low, and could INFRATEL 380 -2.09 354 367 395 410
continue falling. unless near
key supports. Ideal approach ZEEL 512 -1.56 491 502 527 542
could be to sell on pull back,
BRITANNIA 3594 -1.08 3393 3494 3747 3900
and to stay away if opening
moves take the prices steeply
higher or lower.

Near 52Wk Highs

Stock LTP %Chg S2 S1 R1 R2
A new 52 week high is often a
sign a strength followed by HDFCBANK 1569.1 -0.44 1524 1546 1588 1606
strong rallies. But expect some
volatility or at times, reversal,
HINDUNILVR 1024.8 0.61 953 989 1046 1068
as some investors book profits, RAJESHEXPO 647.95 0.28 618 633 659 669
while some others add more
or buy fresh in anticipation of EMMBI 174.55 1.96 152 163 180 186
bigger gains.

Near 52Wk Lows

Stock LTP %Chg S2 S1 R1 R2
A new 52 week low is often a
COALINDIA 267.85 -2.19 256.38 262.12 272.88 278.62
sign of continuation of
weakness or even steep falls, GLENMARK 651.15 -2.68 570.38 610.77 688.38 728.77
but it is not uncommon to see
bounce back from this region, INOXWIND 141.85 -6.31 117.48 129.67 153.33 165.52
especially on first test, as some GLOBOFFS 42.45 -4.71 37.68 40.07 44.73 47.12
investors see such low levels
as attractive.
 Intraday recovery
These stocks recovered Stock LTP Recovery% S2 S1 R1 R2
significantly from the days
HATHWAY 40.25 10.12 33 37 44 48
lows, and could continue
moving up especially in the VGUARD 189.90 10.21 146 168 216 243
initial hour. Ideal approach
would be to buy on declines, CAPLIPOINT 562.90 10.11 381 472 643 723
and to stay away if opening BHUSANSTL 84.30 12.25 60 72 100 115
moves take the prices steeply
higher or lower. MTEDUCARE 68.20 15.59 47 58 80 92

Off intraday high

Stock LTP Decline % S2 S1 R1 R2
These stocks fell significantly ICIL 170 10.61 139 155 193 216
from the days peaks, and
could continue falling. Ideal
SHARDACROP 495 10.84 438 467 546 598
approach could be to sell on JPASSOCIAT 10 12.20 7 9 13 15
pull back, and to stay away if
opening moves take the prices PFOCUS 105 10.03 85 95 119 134
steeply higher or lower. DEN 90 10.44 71 80 101 113

Positive breakout
Stock LTP %Chg S2 S1 R1 R2

Stocks that saw buying

interest breaching 50DMA
during the day and might
continue the uptrend today.

Negative breakout
Stock LTP %Chg S2 S1 R1 R2

These stocks have fallen below

the key moving average of 50
DMA, which is a sign of
weakness.

Concurrent gainers
Stock LTP %Chg S2 S1 R1 R2
These stocks have shown
positive moves of atleast a
percentage for the last three
consecutive days, suggesting
that the underlying trend is
strong.
 Derivative Analysis

Nifty F&O Snapshot Commentary

Current Previous %Change OI declined 14.08% to 204114 Vs. 237564.
Nifty Fut 9390.45 9443.65 -0.56 PCR OI declined 2.61% to 1.12 from 1.15.
Nifty CoC 4.3 5.4 -20.37 NiftyCoC declined 20.37% to 4.3 from 5.4.
IV rose 7.65% to 10.65 from 9.89.
OI 204114 237564 -14.08
Nifty VIX rose 8.93% to 12.2 Vs 11.2.
Volume 179973 113056 59.19 Highest OI seen in 9300PE and 9500CE.
PCR OI 1.12 1.15 -2.61 OI added mostly in 9250PE and 9400CE.
IV 10.65 9.89 7.65 OI declined mostly in 9400PE and 9700CE.
India VIX 12.20 11.20 8.93

Nifty option OI concentration Nifty option OI change

100000 PUT Call CE OI Chg PE OI Chg
7000

50000
0

0
8350 8650 8950 9250 9550 9850 10150 -7000 8350 8650 8950 9250 9550

NiftyBank F&O Snapshot Commentary

Current Previous %Change
 OI declined 11.41% to 68143 Vs. 76916.
NiftyBank Fut 22574.7 22677.5 -0.45  PCR OI rose 2.52% to 1.13 Vs. 1.1.
NiftyBank CoC -8.1 24.65 -132.86  NiftybankCoCdeclined133% to-8.1from 24.6
OI 68143 76916 -11.41  IV rose 7.52% to 13.79 Vs. 12.83.
Volume 90761 61012 48.76  Highest OI seen in 22000PE and 23000CE.
PCR OI 1.13 1.10 2.52  OI added mostly 20700PE and 21200CE.
 OI decline mostly in 21300PE.
IV 13.79 12.83 7.52

NiftyBank option OI concentration NiftyBank option OI change

40000 Call PUT 20000 CE OI Chg PE OI Chg

10000
20000
0

0 -10000
20000 20700 21400 22100 22800 23500 18600 19200 19800 20400 21000

FII Investment - F&O (Cr)

23-May 22-May 19-May 18-May 17-May 16-May 15-May
5000 2750.1
1958.73
1250.19
-120.2 -115.54 -308.31 89.63
0

Index fut Net Index Opt Net Stock Fut Net Stock Opt Net Deri Net inflow
-5000
 Stock future OI setup

Long buildup Short covering

Stock Price Chg% OI Chg% Stock Price Chg% OI Chg%
CANFINHOME 2.22 43.87 L&TFH 2.43 2.43
MARUTI 2.20 -17.69
CONCOR 1.89 -24.63
M&M 1.77 -19.91
EICHERMOT 1.36 -9.27
PVR 0.85 -38.61
HINDALCO 0.82 -11.11
HCLTECH 0.70 -15.33
NIITTECH 0.65 -15.59

Short buildup Long unwinding

Stock Price Chg% OI Chg% Stock Price Chg% OI Chg%
POWERGRID -0.05 155.60 OFSS -0.11 -5.86
BHARTIARTL -0.31 110.91 NESTLEIND -0.12 -27.02
INFY -0.44 107.86 KOTAKBANK -0.17 -4.56
CENTURYTEX -1.13 73.02 IBULHSGFIN -0.24 -16.96
BEL -2.09 93.60 AXISBANK -0.30 -22.82
IDEA -3.47 177.60 IGL -0.33 -32.13
LT -0.33 -5.53
BANKBARODA -0.36 -21.93
PFC -0.40 -22.65
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Date: 2017.05.24 08:48:25 +05'30'