TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Nifty futures and bank nifty future market closed at 10250/ 25516. according to
technical analysis if nifty futures and bank nifty future moves up-word in upcoming treading sessions
then 10400/ 26000 will be next resistance level, if it break this level then nifty futures and bank nifty
future can touch 10530 / 26000 level . it will be hard resistance. meanwhile in reveres there is support
on 10200/ 25500 for nifty futures and bank nifty future after breaking this support with volume there
is big support for nifty futures and bank nifty future on 10100/25000.

Friday, 17 Nov 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2
10535 10329 10225 10123 9917

WEEKLY R2 R1 PP S1 S2
11120 10629 10383 10137 9645

MONTHLY R2 R1 PP S1 S2
11904 10770 10204 9638 8504

BANK NIFTY

DAILY R2 R1 PP S1 S2
26070 25672 25473 25724 24875

WEEKLY R2 R1 PP S1 S2
26915 25960 25483 25004 24048

MONTHLY R2 R1 PP S1 S2
28452 25947 24695 23442 20935

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 10328 10155 10009 9617

BANK NIFTY 25185 24772 24475 23160

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 9983 9014 7615

BANK NIFTY 24276 20920 16022

PATTERN FORMATION ( NIFTY )

Details of Chart - Last week nifty future open at 10342 and made high of 10374 and low of
10125moves down sid almost 200 point showing its bearish trend next support for nifty is 10100 if
nifty can break this level than it shows further downward direction. although sma 21 days shows
its upside movement if nifty can sustain level of 10300-10400 then it again touch the level of
10530..
PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - Last week bank nifty future open at 25535 and made high of 25975 and low of
25260 moves almost 600 point showing its bullish trend . next resistance for banknifty is 26000 if
bank niftty can break this level than it shows further upward direction. sma 21 days also suggest it
upside movement if banknifty can break the level of 26000 then it can go further in upward
direction
NSE EQUITY DAILY LEVELS

COMPANY R3 R2 R1 PP S1 S2 S3
ADANIPORTS EQ 487 448 424 410 385 371 332
NAME
AMBUJACEM EQ 300 288 281 275 268 262 249
ASIANPAINT EQ 1256 1214 1190 1171 1147 1128 1085
AUROPHARMA EQ 838 777 742 716 681 655 594
AXISBANK EQ 610 578 560 546 528 515 483
BAJAJ-AUTO EQ 3427 3327 3268 3228 3168 3128 3028
BAJFINANCE EQ 1988 1878 1829 1768 1719 1658 1548
BHARTIARTL EQ 545 519 506 494 480 468 442
BOSCHLTD EQ 22854 21174 20068 19494 18388 17814 16134
BPCL EQ 563 533 518 503 487 472 442
CIPLA EQ 653 628 617 604 592 579 554
COALINDIA EQ 301 287 280 273 266 259 245
DRREDDY EQ 2493 2411 2365 2329 2283 2247 2165
EICHERMOT EQ 33340 31909 31345 30479 29915 29048 27618
GAIL EQ 495 473 458 450 435 427 404
HCLTECH EQ 947 901 871 855 824 808 762
HDFC EQ 1833 1762 1732 1690 1660 1619 1547
HDFCBANK EQ 1917 1866 1844 1816 1794 1766 1716
HEROMOTOC EQ 3916 3776 3702 3635 3562 3495 3355
HINDALCO
O EQ 291 274 267 258 250 241 224
HINDPETRO EQ 451 433 423 415 405 397 378
HINDUNILVR EQ 1417 1348 1312 1279 1243 1210 1141
IBULHSGFIN EQ 1344 1264 1223 1185 1143 1105 1025
ICICIBANK EQ 367 345 335 322 312 300 277
INDUSINDBK EQ 1791 1711 1670 1631 1590 1551 1471
INFRATEL EQ 504 449 415 395 361 341 287
INFY EQ 1074 1021 993 968 941 916 863
IOC EQ 423 408 402 393 387 379 364
ITC EQ 283 270 265 257 252 245 232
KOTAKBANK EQ 1106 1059 1040 1011 993 964 917
LT EQ 1338 1284 1254 1230 1200 1176 1122
LUPIN EQ 884 857 843 831 816 804 778
M&M EQ 1482 1451 1432 1420 1401 1389 1357
MARUTI EQ 8825 8542 8440 8260 8157 7977 7695
NTPC EQ 195 186 182 178 174 170 161
ONGC EQ 210 196 187 181 172 167 152
POWERGRID EQ 227 218 214 209 205 200 191
RELIANCE EQ 1007 956 934 904 882 852 800
SBIN EQ 384 360 348 335 324 311 286
SUNPHARMA EQ 606 562 540 519 496 476 432
TATAMOTORS EQ 460 439 431 419 410 398 378
TATASTEEL EQ 771 731 713 691 673 651 611
TCS EQ 2905 2815 2761 2724 2671 2634 2543
TECHM EQ 530 510 497 489 476 469 448
ULTRACEMCO EQ 4811 4567 4406 4324 4163 4080 3837
UPL EQ 805 768 746 731 709 694 657
VEDL EQ 370 339 323 308 292 278 247
WIPRO EQ 319 308 302 298 292 288 277
YESBANK EQ 343 324 315 305 296 287 268
ZEEL EQ 568 553 544 539 530 524 510
 TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CMP % SR.NO SCRIPT NAME PREV CMP % CHANGE
CLOSE CHANGE CLOSE

1 RELIANCE INDUS 883.85 911.90 +3.17% 1 BHARTI INFRA 426.75 380.15 -10.92%

2 KOTAK MAH BANK 993.40 1023.20 +3.00% 2 BOSCH LTD 20457.05 18965.90 -7.29%

3 BAJAJ FINANCE 1745 1787.35 +2.43% 3 ADANI PORTS 432.05 400.95 -7.20%

4 LTD
ICICI BANK LTD 318.50 325.10 +2.07% 4 ONGC 191.10 177.60 -7.06%

5 MARUTI SUZ LTD 8183.50 8348.35 +2.01% 5 VEDANTA LTD 323.85 307.60 -5.02%

6 MAHI AND MAHI 1392.95 1416.75 +1.71% 6 AUROBIND PHAR 740.10 708.80 -4.23%

7 AMBUJA CEMENT 270.10 274.50 +1.63% 7 ULTRATECH CEM 4450.85 4267.05 -4.13%

8 STATE BANK OF IND 333.55 337.50 +1.18% 8 COAL IND LTD 284.35 282.80 -4.06%

9 INFOSYS 962.05 970.95 +0.93% 9 IND BULLHO FIN 1225.05 1184 -3.35%

10 HERO MOTO CORP 3605.10 3631.15 +0.72% 10 L AND T 1264.95 1222.80 -3.33%

11 YES BANK LTD 304.05 306.10 +0.67% 11 HCL TECH 867.05 840 -3.12%

12 NTPC 176.55 177.55 +0.57% 12 GAIL INDIA LTD 457.10 444.75 -2.70%

13 EICHER MOTOR 30551.65 30707.45 +0.51% 13 WIPRO LTD 302.65 295.15 -2.48%

14 HDFC BANK 1822 1825.55 +.19% 14 SUNPHARAM 527.85 517.10 -2.04%

15 INDIAN OIL CORP 394.85 395.15 +0.08% 15 BHARTI AIRTEL 503.45 493.50 -1.98%

AM 204 232 +13.67 AMBUJA CEMENT

BUJ %
A
CEM
ENT
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS)

NSE FUTURE

NSE FUTURE : BUY MARUTI FUTURE ABOVE 8300 TGT 8400 SL 8250

NSE FUTURE : BUY EICHER MO FUTURE ABOVE 31000 TGT 32000 SL 30750

NSE CASH

NSE CASH : BUY HSCL CASH ABOVE 166 TGT 175 SL 161

NSE CASH : BUY FRETAIL CASH ABOVE 506 TGT 530 SL 490
NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

SUN PHARMACEUTICALS INDUSTRIES

Consolidated Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)

REVENUE 6650.34 19.50

EBITDA 1375.61 56.60
EBITDA MARGIN (%) 20.70 1767
NET PROFIT 912.12 59.20

Sun Pharmaceutical Industries reported consolidated results for the quarter came in mixed
versus street estimates. Revenue for the quarter came in 3.1 % lower than the estimated figure
of Rs. 6861 crore. EBITDA for the quarter came in 1.3 % higher than the estimated figure of
Rs. 1357 crore. And lastly, net profit for the quarter came in 13.7 % higher than the estimated
figure of Rs. 802 crore. Sun Pharmaceutical Industries consolidated revenue for the quarter
came in at Rs. 6650.34 crore, registering 19.5% yoy decline. EBITDA for the quarter fell by
56.6% yoy to Rs. 1375.61 crore with a corresponding margin contraction of 1767 bps.
EBITDA margin for the quarter stood at 20.7%. This margin contraction was aided by 10.4%
increase in its employee benefit expenses. The PAT for the quarter came in at Rs. 912.12 crore,
yoy decline of 59.2%. This was due to 193% increase in its finance cost
BANK OF BARODA
1 Standalone Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)

NII 3720.20 8.60

NPA ( %) 11.20 19
PROVISIONS 2329 29.80
NET PROFIT ( ADJUSTED) 355 35.70

Bank of Baroda reported its Q2FY18 results today. The quarterly numbers missed street
estimates on net profit. The net profit for the quarter was 22.6% below the street estimates of
Rs.459 crore. However, net interest income for the quarter was 5.7% above the street estimates
of Rs.3519 crore. The NII for the quarter was saw 8.6% yoy increase to Rs.3720 crore vs R
s.3426 crore in Q2FY17. This was largely due to 2.6% yoy increase in interest income to
Rs.10753 crore. While, interest expendedremained flat. The asset quality for the quarter
showed steady performance. The GNPAs for the quarter rose by 8% yoy to Rs.46306 crore.
The GNPAs as percentage to total advances declined by 19 bps to 11.16% vs 11.35% in
Q2FY17. The NNPA also declined by 41 bps to 5.05% vs 5.46% in previous year
corresponding quarter. The provisions for the quarter continue to remain inch upwards for
aging stressed asset problem. The provisions for the quarter rose by 30% yoy to Rs.2329 crore
vs Rs.1795 crore Q2FY17. The resultant net profit for the quarter declined by 35.7% yoy to
Rs.355 crore in previous year corresponding quarter.Also, the PCR for the quarter stood at
67.18%. Further advances and deposits grew by 9% & 3% yoy to Rs.387301 crore & 583212
crore respectively
GAIL (INDIA) LTD
2 Standalone Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)

REVENUE 12409.60 2.90

EBITDA 2411.70 27.50
EBITDA MARGIN (%) 19.40 375
NET PROFIT 1309.60 41.60

GAIL ltd standalone revenue for the quarter came in at Rs. 12409.6 crore, registering 2.9% yoy
increase. This was primarily driven by 10% and 31% yoy increase in revenues from Natural
Gas transmission services and LPG and Liquid Hydrocarbons segment. EBITDA for the
quarter rose by 27.5% yoy to Rs. 2411.7 crore with a corresponding margin expansion of 375
bps. EBITDA margin for the quarter stood at 19.4%. This margin expansion was aided by
favourable movements in inventories. The PAT for the quarter came in at Rs. 1309.6 crore,
yoy increase of 41.6%. This was due to 23% yoy decline in interest expenses.
TATA GLOBAL BEVERAGES
3 Consolidated Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)

REVENUE 1692.14 4.40

EBITDA 213.96 15.00
EBITDA MARGIN (%) 12.60 117
NET PROFIT 154.50 10.70

Tata Global Beverages consolidated revenue for the quarter came in at Rs.1692.14 crore,
registering 4.4% yoy increase. This was primarily driven by 3.6% growth in its tea business
and 11.2% growth in its coffee business. EBITDA for the quarter rose by 15% yoy to Rs.
213.96 crore with a corresponding margin expansion of 117 bps. EBITDA margin for the
quarter stood at 12.6%. This margin expansion was aided by 3.8% decline in its employee
benefit expenses. Unadjusted PAT for the quarter came in at Rs. 154.5 crore, yoy increase of
10.7%. This was due to 58.4% decline in its finance cost.
HDFC LIFE - Shares of HDFC Standard Life Insurance got listed at a 7% premium on the
stock exchanges. The stock rose as much as 8.27% to Rs 314 against its issue price of Rs
290. HDFC Life's initial public offer was subscribed 4.9 times by the end of the third day, with
the insurer receiving bids for 1.08 bn shares as against 219.76 mn shares on offer. The retail
portion of the offer was subscribed 0.93 times and the non-institutional investor portion was
subscribed 2.29 times, data on the bourses showed.

BANK OF BARODA - BoB announced that it is planning to raise Rs 6,000 Cr in equity

capital through either a Qualified Institution Placement and/or a rights issue. A meeting of the
Finance Committee of the board will be held on Nov 21, 2017 to consider and approve raising
of equity fund. This development comes after the bank reported an improvement in its
operational performance. BoB reported that credit growth for Q2FY18 came in at a healthy
13.8% YoY after the retail and home loan segment reported a growth of 25.5% and 34.1%
respectively. Net Interest Margin for the bank also improved to 2.31% in Q2FY18 from 2.12%
in Q1FY18.

BANK NIFTY - Nifty Bank surged as much as 2% achieving lifetime high of 25,902.50 after
the Moodys upgraded the sovereign credit rating of India. Moody's Investors Service
upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from
Baa3 and changed the outlook on the rating to stable from positive. Moody's has also upgraded
India's local currency senior unsecured rating to Baa2 from Baa3 and its short-term local
currency rating to P-2 from P-3. The price action occurred in both, PSU and Private Banking
stocks in the market session. PSU Banking stocks like Punjab National Bank, Bank of Baroda
and Canara Bank gained more than 3% in the initial hours of the market session. Private Banks
like ICICI Bank, Yes Bank, and Axis Bank gained more than 2% accelerating Nifty Bank to
new 52 week high. Nifty Bank is trading at a level of 25,829 points, up by 1.5% or 383 points
and Nifty PSU Bank is trading at a level of 4,134 points, up by 2.57% or 104 points at 9.40
am.
CIPLA - Cipla has received final approval from USFDA to market its Budesonide Inhalation
Suspension; which is a generic version of AstraZeneca's Pulmicort Respules.Budesonide
Inhalation Suspension is prescribed for the maintenance treatment of asthma and as
prophylactic therapy in children from 1-8 years. The product is available for shipping
immediately. As reported by IMS Health, Pulmicort Respules and its generic equivalents had
sales of approximately US $825 mn in the US for the 12- month period ending September
2017. We are positive on Cipla as more generic drug launches in the US and in UK post -
approval are expected to augment revenue. Ciplas US business growth is expected to improve
from 3QFY18, driven by the launch of at least one niche product per quarter. Also, gradual
recovery in India business should lead to better margins going forward. Cipla is a major player
in the domestic formulations market, which contributes ~45% to its total revenue. Cipla makes
drugs to treat cardiovascular disease, arthritis, diabetes, weight control, depression and many
other health conditions. Its products are distributed in more than 180 countries worldwide.
Cipla Ltd is currently trading at Rs 603.3, up by Rs 10.3 or 1.73% from its previous clos ing of
Rs 593 on the BSE.

AHLUWALIA CONTRACTS ( INDIA ) LTD - Ahluwalia Limited has bagged new orders
worth Rs 311 cr for the construction of Institutional, Hospital and Commercial including
Electrical, Plumbing and Fire fighting services. Ahluwalia Ltd is one of Indias leading EPC
companies with a pan India presence. The company is engaged in construction of wide range
of structural buildings such as hospitals, hotels, educational institutions, etc. New orders worth
of Rs. 171 cr for construction of 300 Beds Hospital in existing premises of ESIC Hospital
Kolkata and worth Rs. 140 cr for other construction work. Company is currently L1 in project
valued Rs. 315 cr and the projects bedded under pipeline are Rs. 1600 cr. The total order
inflow during FY17-18 stands at Rs. 866 cr.The stock is currently trading above its 200 DMA.

GAIL INDIA - The net profit stood at Rs 1309.6 Cr for the quarter ended September. GAIL
Ltd standalone revenue for the quarter came in at Rs 12,409.6 crore, registering 2.9% yoy
increase. This was primarily driven by 10% and 31% yoy increase in revenues from Natural
Gas transmission services and LPG and Liquid Hydrocarbons segment. EBITDA for the
quarter rose by 27.5% yoy to Rs 2,411.7 crore with a corresponding margin expansion of 375
bps. EBITDA margin for the quarter stood at 19.4%.
This margin expansion was aided by favorable movements in inventories. Operating margin
expanded to 16.68% in Jul-Sep from 12.92% in the same period last year. The scrip opened at
Rs 463 and has touched a high and low of Rs 463 and Rs 441.5 respectively. Gail India
Limited is a leading natural gas

CORPORATION BANK - The bank, has intimated that it will raise Tier 2 capital amounting
to Rs 500 crores.The funds are raised through private placement of Tier-2 capital as per the
Basel III guidelines in the nature of Debentures at an annual coupon of 8.02% p.a., discovered
through electronic bidding mechanism of NSE on November 9, 2017. The tenor of the
debenture is 10 years from the date of allotment. The credit rating rated by India Ratings &
Research Pvt Ltd is IND AA and by Brickwork Ratings India Pvt Ltd is BWR AA. The face
value is Rs 10,00,000 or Rupees Ten Lakhs per debenture. The Interest payment is annual and
shall not be cumulative. The stock has rallied around 20% from quarterly low of Rs 38.30
made on October 23, 2017, on account of the announcement of recapitalization plan by the
government in the public sector banks through recap-bonds. The quarterly results for
September 2017 of the bank are to be declared on November 14, 2017.

JAIN IRRIGATION - Jain Irrigation has bagged Rs 125 Cr irrigation project for Waghur
Canal integrated irrigation project. The owner of the project is Tapi Irrigation Development
Corp., Government of Maharashtra. This canal project will be implemented with pressurized
HDPE/PVC pipe distribution in the command area of 16,536 acres in Jalgaon district of
Maharashtra state. The project is expected to benefit more than 5,000 farmers. This project has
planned to improve water use efficiency up to 50-55% in canal command areas by using
pressurized piped distribution network and on-farm micro-irrigation system as per the mandate
of GOI under Prime Minister Krishi Sinchai Yojana. The project will fulfill the
national agenda Har khet ko pani and more crop per drop ensuring higher productivity
and sustainable income for the farmers. Jain Irrigation has successfully commissioned many
other irrigation projects on turnkey basis in the state of Maharashtra, Karnataka, Gujarat,
Himachal Pradesh and others.
The micro irrigation systems demand in India is expected to be Rs 40,000 Cr over the next 6 -7
years, and Jain Irrigation stands to gain as it is the market leader in this space. The growth in
MIS will be propelled by the thrust of central and state governments on micro -irrigation
projects; besides, crops like sugarcane, cotton, pulses, and oilseeds are increasingly finding
acceptance of micro-irrigation.

RENUKA SUGARS - Shree Renuka Sugars touched a high of Rs 17.80. The stock touched its
2-month high, before the board meeting to be held on Tuesday for the approval of equity
shares or any other securities for debt restructuring exercise. Post the news built up, several
large deals happened on the exchange in a price range of Rs 15.70 to Rs 17.50 today, with a
total of 14.7 million shares traded on the NSE. This was more than the daily average of 6
million shares.

PVR - Shares of PVR touched a high of Rs 1,428.95 after the company announced that it will
acquire a stake in iPic. The shares soared by 3%. iPic-Gold Class Entertainment, LLC is an
US-based luxury restaurant and theatre company. The theatre company owns and operates 16
theatres with 121 screens across 10 states in the US, and plans to list its shares on the
exchanges. The promoters holding in the company stood at 20.25% while Institutions and Non-
Institutions held 67.81% and 11.93% respectively.

COX & KINGS - Shares of Cox & Kings reported a surge of over 4% as the company
announced of listing an IPO for its education tour business. The shares of the company
reversed their two-session losses to rise by 4% to a high of Rs 260. The education tour
business, in Europe and Australia, is part of Cox & Kings operations post its acquisition of the
UK-based Holidaybreak for Rs 2,300 Cr in 2011. Cox & Kings ownership in the education
segment stands at 65.6%. The segment contributes 30% to the company's revenue and 35% to
its operating profit on a consolidated basis. The stock has gained over 42% so far this year. Cox
& King is a well-established travel company having 30% market share in outbound travel and
operates in 25 countries.

UCO BANK - Shares of UCO Bank rose 4% after a media report said that the bank has invited
initial bids for sale of 17 non-performing accounts worth Rs 18.96 billon. The bank has invited
bids from asset reconstruction companies, other banks, financial institutions, and non -banking
finance companies. The last date of submission of bids is November 20.
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