ICICI Securities Limited

Daily Calls
May 20, 2011 Sensex: We said, "Bias assumed as -ve below 18218, but confirms as -ve when Index drops and closes below 18K." Sensex remained below 18218, but traded a very small range defending 18K, before ending 55 pts higher. While L&T lifted Cap. Goods Index by 2.8%, Realty Index lost 2.8%. The A/D ratio remained -ve, at 1:2. The action formed a still smaller Bear candle, ranged inside previous day's high-low, which appears as indecisive move. Follow-up on the next day could stand for something decisive. While strength above 18218 would turn the bias positive, failure to do that would result in lackluster market. Break below 18K would resume -ve bias.

Nifty Futures (NIFTY)

CMP : Comment :

5424.80 Future falls into discount of 3 points from premium of 3. Forms the 2nd consecutive smaller bear candle. Reverse if fails to reach/sustain above 545060. Buy above 5420 5434 / 5448 / higher 5418

Action : Targets : Stop-loss :

ICICI Securities Limited

Daily Calls

Bharat Forge Ltd. (BHAFOR)

CMP

333.35 Bullish Engulfing pattern on daily chart and bounces from trendline support

Comment:

1 Action:

Buy above 334 340/343/Higher 331

Targets: Stop-loss:

Oriental Bank of Commerce Ltd. (ORIBAN)

CMP :
gg

334.80 Trendline breakout and 14 period RSI oscillator in buy mode Buy above 335 340/342/Higher 332.30

Comment:

Action : Targets: Stop-loss

DLF Ltd. (DLFLIM)

CMP :

221.75 Trendline resistance and Price below 20 day SMA

Comment:

Action : Targets: Stop-loss

Sell below 221 218/216.50/Lower 222.80

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Daily Calls
Ambuja Cement (GUJAMB) 1s

CMP :

132.15 Bearish Engulfing candle and short term trendline breakdown

Comment:

Action : Targets: Stop-loss

Sell below 132 129.50/127/Lower 133.40

Previous day's Performance Review Index / Scrip Name Nifty HDFC Cairn India HDIL Biocon Action Sell below 5464 Buy above 648 Buy above 341 Sell below 153 Sell below 344 Targets 5425/5400 /658/663/+ 347/350/+ 150/148.6/338/335/Comments No trade No trade Closed at 341.70 Target 2 achieved Target 2 achieved % Return opportunity 0 points 0.00 0.20 2.87 2.61

Nifty Points gained for the day: 0 Stock profits: Average: 1.89% per trade Strike Rate for the day: 3/3

Cum. gains over last 32 days: 487 points Cum. Profits over last 32 days: 101.712% Cum. Strike Rate over 32 days: 71/100 (71%)

ICICI Securities Limited

Daily Calls
STOCK SENSEX NIFTY ACC ANDHRA BANK ARVIND BAJAJ AUTO BALAJI TELE BOB BOI BEL BPCL BHEL CANARA BANK CENTURY TEXT. CIPLA DR.REDDY'S LAB. GAIL GEOMETRIC GRASIM AMBUJA CEMENT HCL TECH HDFC BANK HDFC HERO HONDA HEXAWARE TECHNOL HINDALCO HINDUSTAN UNILEVER HPCL HINDUJA TMT ICICI BANK IDBI I-FLEX SOLUTION IOC INFOTECH ENT. INFOSYS ITC JINDAL SAW KPIT CUMMINS LARSEN & TOUBRO LIC HOUSING CLOSE 18141.40 5428.10 990.50 136.75 70.95 1292.90 34.25 834.05 404.30 1702.25 617.75 2062.10 519.05 307.05 306.80 1599.20 428.15 58.20 2239.45 132.40 506.85 2273.80 643.85 1793.45 63.00 189.50 309.60 356.90 275.45 1030.10 131.75 2166.45 317.45 153.15 2846.45 189.05 165.65 162.40 1594.85 206.60 S1 18137.00 5429.40 981.40 135.75 70.75 1294.60 33.70 824.65 401.55 1692.20 615.85 2046.80 516.60 303.10 306.55 1596.15 428.60 57.60 2207.20 130.30 506.75 2272.80 640.75 1776.50 62.40 185.70 308.45 355.65 274.95 1026.30 131.40 2150.55 316.35 150.55 2846.85 188.45 162.90 162.55 1577.30 204.40 S2 18101.80 5419.05 977.90 135.25 70.40 1288.75 33.40 817.50 398.30 1683.60 612.85 2038.45 513.40 300.60 305.70 1586.15 425.15 57.30 2192.05 129.20 505.35 2266.25 637.70 1761.50 61.55 184.40 307.45 353.40 272.55 1021.25 130.90 2133.30 314.30 149.95 2840.85 187.55 162.05 161.60 1543.45 202.55 S3 18066.65 5408.70 974.40 134.70 69.90 1282.85 33.10 810.30 395.05 1674.95 603.60 2030.05 506.65 298.10 304.90 1576.15 421.70 57.00 2176.90 128.15 503.90 2259.65 633.70 1746.45 60.75 183.15 306.55 348.20 270.10 1014.55 130.10 2116.10 309.60 149.35 2834.80 186.85 161.15 160.70 1509.55 200.70 R1 18207.30 5450.05 991.05 136.95 71.45 1306.35 34.45 837.40 404.60 1706.15 621.85 2062.50 523.10 308.30 308.20 1616.10 435.55 58.20 2249.40 133.00 509.60 2285.95 646.85 1800.20 63.15 190.80 310.40 360.15 279.80 1036.40 132.40 2169.50 320.45 153.95 2858.90 190.25 166.25 164.40 1645.05 207.05 R2 18256.65 5464.85 995.90 137.55 71.80 1323.75 34.80 843.75 406.10 1713.15 624.85 2070.35 526.30 310.90 309.55 1632.90 439.25 58.50 2270.50 134.35 510.70 2294.65 649.95 1812.05 63.50 193.35 311.35 362.40 281.90 1041.50 132.90 2178.95 322.50 155.65 2878.75 191.20 167.95 165.15 1651.05 208.40 R3 TREND 18306.00 +ve 5479.65 +ve 1000.75 -ve 138.10 -ve 72.30 Neutral 1341.10 +ve 35.20 -ve 850.10 -ve 407.65 -ve 1720.10 -ve 634.10 Neutral 2078.20 -ve 533.05 Neutral 313.50 -ve 310.90 +ve 1649.65 +ve 442.95 +ve 58.80 -ve 2291.60 -ve 135.75 -ve 511.85 +ve 2303.30 +ve 653.95 Neutral 1823.90 -ve 63.90 -ve 195.90 -ve 312.30 Neutral 367.60 Neutral 284.05 +ve 1048.15 Neutral 133.75 Neutral 2188.45 -ve 327.20 Neutral 157.30 -ve 2898.60 +ve 191.90 Neutral 169.60 -ve 165.95 +ve 1657.00 +ve 209.70 -ve

ICICI Securities Limited

Daily Calls
M&M MARUTI SUZUKI MASTEK MTNL NALCO NTPC ONGC OBC POLARIS PNB RANBAXY RELIANCE INFRA. RELIANCE ROLTA INDIA SAIL SATYAM SCI SBI SYNDICATE BANK TATA CHEMICALS TATA MOTORS TATA POWER TATA TEA TCS TATA STEEL UBI TATA COMM. WIPRO ZEE 676.15 1211.75 99.15 45.25 88.00 170.00 277.70 335.45 189.05 1035.95 487.00 552.90 915.50 135.95 140.30 75.95 104.05 2322.30 110.55 356.65 1150.85 1215.90 96.20 1164.85 562.75 321.20 213.90 442.80 131.60 676.55 1204.10 96.70 44.15 87.00 168.95 276.95 334.85 187.95 1024.65 480.90 546.15 914.80 133.85 139.00 75.05 103.45 2297.05 109.75 352.35 1145.95 1204.25 95.95 1164.25 557.30 320.70 211.35 439.15 131.65 673.85 1193.40 95.10 43.50 86.40 168.05 275.30 333.05 186.65 1020.15 477.30 536.15 910.50 133.05 137.85 74.30 103.00 2275.50 109.15 349.45 1140.00 1195.35 95.55 1160.75 554.15 319.60 208.90 436.00 130.80 671.20 1182.65 93.55 42.80 85.80 167.20 273.65 331.20 184.65 1015.70 473.65 526.15 906.15 132.25 136.70 73.55 102.55 2253.95 108.55 346.60 1128.45 1186.45 94.95 1157.25 551.00 318.45 206.45 432.90 130.00 681.95 1212.70 99.90 45.55 88.35 170.25 280.30 338.50 190.65 1039.65 489.55 554.40 923.40 136.10 140.85 76.25 104.20 2330.10 110.70 357.85 1157.80 1220.25 96.70 1171.25 564.40 322.95 214.50 443.35 133.25 687.30 1217.00 101.50 46.25 89.00 170.90 282.70 342.25 192.00 1047.15 493.90 558.55 930.50 137.25 141.80 76.85 104.60 2346.60 111.20 360.60 1163.70 1228.25 97.05 1176.40 567.95 324.65 216.05 445.45 133.90 692.70 +ve 1221.30 -ve 103.10 -ve 46.95 -ve 89.65 -ve 171.55 -ve 285.10 +ve 346.00 +ve 193.95 Neutral 1054.65 -ve 498.20 -ve 562.65 -ve 937.60 +ve 138.40 -ve 142.70 -ve 77.40 -ve 105.00 -ve 2363.10 -ve 111.70 -ve 363.35 -ve 1175.30 Neutral 1236.25 -ve 97.70 Neutral 1181.60 +ve 571.50 -ve 326.30 +ve 217.65 -ve 447.55 -ve 134.50 +ve

ICICI Securities Limited

Daily Calls
NOTES : The Sell below / above price is a key technical level which decides the trend for the day Once the call is initiated, an appropriate Stop Loss trigger should be put for the trade Once into position, put trailing stops to preserve your profits Be careful if the counter achieves the target immediately after opening The strategies are valid only for the date mentioned at the top Positions should be squared off by the end of the day Only stocks in derivatives segment have been considered for daily trading Chart shows 50 days on NSE cash market, with 5/8/13/21 day EMAs, volumes & 5-day Slow Stochastics The vertical grids show weeks, horizontal grids are price-aligned The writer may have position in the stocks discussed The strategies are based on intra-day volatility, suggesting a two-way approach intra-day Medium to long-term prospects of a stock does not have any bearing on the daily view

MOST IMP: 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.

ICICIdirect.com Technical Desk ICICI Securities Limited, 7th Floor, Akruti Centre Point, MIDC Main Road, Marol Naka Andheri (East), Mumbai 400 093 research@icicidirect.com

DISCLAIMER: The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. "The author of the report does not hold any investment/open position in any of the companies mentioned in this report. ICICI Securities Services Ltd (I-Sec) may be holding a small number of shares/ an open position in the above referred companies as on the date of release of this report." This report is based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed. This report and information herein is solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This may not be taken in substitution for the exercise of independent judgement by any recipient. The recipient should independently evaluate the investment risks. ICICI Securities Ltd and affiliates accept no liabilities for any loss or damage of any kind arising out of the use of this report. Past performance is not necessarily a guide to future performance. Actual results may differ materially from those set forth in projections. ICICI Securities Ltd may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject ICICI Securities Ltd and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.

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