Weekly Nifty Trading View for the

Week Dec 29, 2014 Jan 04, 2015

An exclusive report by
Share Tips Info

Events To Watch This Week:

The S&P/Case-Shiller Home Price Index is released on Tuesday,
30 December.
The ISM-Chicago purchasing managers index is reported on
Wednesday, 31 December.

The US Pending Home Sales Index is reported on Wednesday,

31 December.
The European Union reports its manufacturing PMI on Friday, 2
January.

The US Department of Commerce releases its manufacturing

PMI on Friday, 2 January.
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End Of The Week That Was :

US GDP growth revised up to 5%

US consumer sentiment improves, housing softens

Japans inflation, output slip

US jobless claims dip to 280,000
Standard & Poors warns Russia of credit downgrade

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For The Week :

Financial markets trended higher on a quiet holiday week. The
key drivers were the stronger-than expected update to third-quarter
US gross domestic product and the ongoing momentum generated
by the US Federal Reserves pledge to be patient about raising
interest rates.

Other robust US data included lower jobless claims, falling

gasoline prices and the highest consumer expectations reading in
almost eight years. Japan, in contrast, reported disappointingly
weak data on inflation and industrial output.The yield on the 10-year
US Treasury note climbed above 2.25% on Friday. Oil prices
remained at multiyear lows. Major US stock indices set new record
highs through the week.
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Market Round Up :
Indian benchmark indices edged lower in truncated trading week
as selling of Indian stocks by the foreign portfolio investors (FPIs)
weighed on sentiment. The Sensex fell in two out of four trading
sessions in the week. Markets remained closed on Thursday, 25
December 2014 on account of Christmas. Data showing the fastest
US economic growth in more than a decade in third quarter
bolstered the case for the US Federal Reserve to raise interest rates
in the world's biggest economy. Investors are concerned that higher
US rates will strengthen the dollar and cause inflows into emerging
markets to slow. With the government unable to get key legislative
reforms bills passed during the winter session of the parliament
which ended on Tuesday, 23 December 2014, key equity
benchmark indices edge lower on that day.
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Market Round Up:

Indian stocks remained volatile as traders rolled over positions in
the futures & options (F&O) segment from December 2014 series to
January 2015 series. The near month December 2014 derivatives
contracts expired on Wednesday, 24 December 2014, as the stock
market remained closed on Thursday, 25 December 2014.

At the close, The S&P BSE Sensex declined 130.06 points or

0.47% to settle at 27.241.78, in the week ended Friday, 26
December 2014. The 50-unit CNX Nifty dropped 24.50 points or
0.29% to settle at 8,200.70. The BSE Mid-Cap index rose 0.74%,
outperforming the Sensex. The BSE Small-Cap index fell 0.29%,
with fall in index lower than Sensex's decline in percentage terms.
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Rupee And Crude Update:

The rupee stays lower for the third straight session on month-end
dollar demand and FII profit booking.the rupee edged lower against
the dollar. The partially convertible rupee was hovering at 63.6350
compared with its close of 63.5250 during the previous trading
session.

Brent crude futures held above $60 a barrel today, 26 December

2014. Brent for February settlement was up 31 cents at $60.55
barrel. The contract fell $1.45 a barrel to close at $60.24 a barrel
during the previous trading session.

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Major Action & Anouncement:

DrReddys Laboratories fell 2.15%. With respect to news article titled,
"DRL under health Canada Scanner," DrReddys Laboratories clarified
during trading hours on Friday, 26 December 2014, that in keeping with
current regulations of Health Canada, the company has voluntarily placed
under quarantine all APIs and the formulations based on Active
Pharmaceutical Ingredients (APIs) produced at its API facility in Srikakulam
district of Andhra Pradesh intended for use in Canada. The company said its
products continue to meet intended quality standards, and its APIs and
Finished drug products manufactured using these APIs pose no risk to the
health and safety of the Canadian people.

Cipla rose 0.82%. The company said on 23 December 2014, that

CiplaMedpro has been awarded R2 billion share of the South African
Government's 2015-17 National ARV tender. The contract is effective from 1
April 2015 and will run for a period of three years.
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Housing Development Finance Corporation

The company announced on 22 December 2014, that it has
agreed to sell up to 1.89 crore equity shares representing a 0.95%
stake of HDFC Standard Life Insurance Company (HDFC Life) to the
AzimPremji Trust at Rs 105 per share. HDFC has already concluded
the sale of the first tranche of 1.19 crore shares. The balance shares
would be sold subsequently. After the entire sale of 1.89 crore equity
shares is completed, HDFC would hold 71.42% of the total issued
and paid-up equity capital of HDFC Life.

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Reliance Industries
The company on Friday, 26 December 2014, said it has signed
shipping agreements with one of the world's largest and reputed
shipping companies MITSUI O.S.K. Lines (MOL) for transporting
liquefied ethane from North America to India. MOL will supervise the
construction of six very large ethane carriers (VLECs), ordered by
Reliance. MOL will also operate and manage the vessels after they
are built and delivered.

NTPC rose 2.84%. The company on 23 December 2014, said

that its board has approved a scheme of arrangement for the
issuance of secured, non-cumulative, non-convertible, redeemable,
taxable fully paid-up bonus debentures of face value of Rs. 12.50
each against each equity shares of Rs 10 (face value) held by its
shareholders by utilizing its free reserves.
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Macroeconomic Front:
On the macro front,The government was unable to get the Insurance
Laws (Amendment) Bill, 2008, passed in LokSabha and RajyaSabha during
the winter session. The Insurance Bill, which has been pending since 2008
in the RajyaSabha, seeks to increase the composite foreign investment limit
in insurance companies to 49% from current level of 26%. This will now be
done through the ordinance route. It may be recalled that the Parliamentary
Select Committee in its report tabled in RajyaSabha on 10 December 2014
agreed a composite cap of 49% on foreign investment in the insurance
sector, which includes all types of foreign investment as opposed to the
26% foreign direct investment (FDI) allowed at present. Finance Minister
ArunJaitley had said in his maiden budget speech in July that the composite
cap in the insurance sector should be increased to 49% from the current
level of 26%, with full Indian management and control.

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Corporate News Update 1:

RBI tightens norms to deal with errant borrowers. Anybody with dues
above Rs 50mn will now be tagged a non cooperative borrower.

The world Bank has approved a Rs4.5 bn loan to Telangana to improve

incomes and address healthcare needs of farmers.
Infosys is increasing its focus on geographies like North America and
EMEA region to drive growth of its core banking solution Finacle.

Telecom industry body COAL has requested the Department of Telecom

to extend deadline for roll out of 4G services to 2020 citing various hurdles
mainly delay in development of technology and regulatory procedures.
Suzlon Group firm Senvion SE has bagged orders worth over Rs 4.20
bn for setting up wind power projects having nearly 64 MW capacity in the
UK.
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Corporate News Update 2:

Jet Airways has raised a loan facility of $150 mn from west Asian
financial institutions to part fund its three year turnaround stategy.
Relaincejioinfocomm Ltd has received security clearance to start 4G
technology based broadband services in six circles but with riders.
Jaiprakash Associates completed its divesmentprogramme aimed at
cutting debt with the sale of two cement plants in Madhya Pradesh to
Ultratech Cement for 54 bn.
NTPC, the state owned thermal power generation giant, might lose the
chance to build its first ultra mega power project, as the government is likely
to scrape the bidding process for the Cheyyur UMPP in Tamil Nadu.
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Global Front:
In overseas markets, US stocks ended higher on Friday, with
both the Dow and S&P 500 closing at records in a broad rally,
though trading was light with many market participants still out for
the Christmas holiday. Major indexes closed out their second
straight weekly gain, continuing an advance that has lifted the S&P
5.9 percent in seven sessions.
The benchmark index hit its 52nd record close of the year on Friday,
the most since 1995 and the fourth-best annual record ever, while
the Dow rose for a seventh straight day, its longest streak since
March 2013. "The overall trend remains higher, but we're reaching a
point where we're overbought. Six percent since last Tuesday is
such a strong move in such a short period of time, even if bulls have
the upper hand in the longer term.
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Global Corporate News 1st

US economy grew at 5% pace in Q3
The US economy grew at an annualized 5.0% in the third quarter, up
significantly from the previous revision of 3.9% and following the second
quarters 4.6% pace the strongest back-to-back quarterly growth rates
since 2003. Despite evidence of slowing growth in the fourth quarter,
economists predict ongoing expansion in 2015, fueled by the countrys
strong labor market and lower gasoline prices.
US jobless claims fall to 280,000
Initial claims for US unemployment benefits fell by 9,000 to a seasonally
adjusted 280,000 for the week ended 20 December, the fewest since early
November. The four-week moving average dropped to 290,250.
Continuing claims rose by 25,000 to 2.4 million for the week ended 13
December.
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Global Corporate News 2nd

Japan reports falling inflation, weaker output
Japans core consumer price index, which strips out the impact of the April
sales tax hike, was just 0.7% in November down from 0.9% in October
and even further away from the Bank of Japans target of 2%. Industrial
production fell 0.6%, far below the 0.8% growth that economists had
forecast. The yield on 10-year Japanese government bonds slipped to a
record low 0.30% on the news..
Japan is planning targeted stimulus
Japan is expected to introduce $29 billion in targeted stimulus measures,
including subsidies and vouchers for low-income households that are
intended to boost consumption in regional economies. The government is
also seeking to rejuvenate the housing market by lowering the mortgage
rates offered by its home loan agency.
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Global Corporate News 3rd

S&P warns Russia of downgrade to junk

Standard & Poors warned Russia of a potential downgrade to a

junk credit rating early in 2015. The credit rating agency cited the
rapid deterioration of Russias monetary flexibility. The troubled
economy has been hard hit by sharply lower oil prices and
Western sanctions over the conflict with Ukraine.

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Global Economic Data:

US existing home sales fell at an annual rate of 4.93 million units, or
6.1 % to a six month low in November.
The Thomson Reuters/University of Michigan consumer sentiment
indexs final reading of 93.6 for December was a strong increase from
Novembers final 88.8 and the consumer expectations subindex rose to its
highest level since January 2007.
Double goods orders fell 0.7% overall in November, although
nondefense capital goods orders excluding aircraft were unchanged after a
downward -revised fall 1.9% in October.

AAA reported that the average US price per gallon of regular gasoline
fell to $2.38 as of 22 December, the lowest price since May 2009.
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New 52-Week High And Lows BSE (A):

HIGH BSE (A):

Jswenergy

104.05

Shriramcit

1870.00

Sksmicro

404.20

LOWS BSE (A):

Kailash

8.22

Rasoypr

1.49

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Major Weekly Gainers In Bse A Category:

Guj Gas

45.19%

BF Utilities

34.95%

Future Retail

25.22%

DCB Bank

18.61%

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Major Weekly Losers In Bse A Category:

Pun. Nationlbank

-79.54%

Rasoya Proteins

-25.13%

PMC Fincorp

-20.84%

Vakrangee

-12.25%

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FII Trend During The Week: (Figures in Crore)

22/12/2014

-171.76

23/12/2014

-389.55

24/12/2014

-1349.48

26/12/2014

457.26

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Fundamental & Technical Picks For The New Year:

In any market environment, we strongly believe that

investors should stay diversified across a variety of
asset classes. By working closely with your financial
advisor, you can help ensure that your portfolio is
properly diversified and that your financial plan
supports your long-term goals, time horizon and
tolerance for risk.

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Missed the rally! Now bank on PSBs:

CNX PSU Bank Index has seen a break-out above

the supply zone of 4,100 for the first time since July
2011. In the process, the index has given a breakout
from an inverted head &shoulders pattern on the
weekly chart. The technical set-up suggests that it is
just a matter of time before it surpasses the all time
high level of 4,640.

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Indian Bank,,,,,,,,,TGT 251.

Indian Bank on the daily chart, has been moving

alongwith the support of its rising trendline since
February 2014 wherein every decline is met with buying
interest. On the weekly chart, it is on the verge of
breaking out from an inverted head & shoulders pattern
above 195.This stock has underperformed in the past
six months. We expect the stock to build on short-term
breakout.

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Oriental Bank of Commerce ,,,,,,,,,TGT 411

Oriental Bank of Commerce (OBC) has faced supply pressure

around 300. However, in December, it has managed to overcome

this hurdle and also confirmed a breakout from an inverted head &
shoulders pattern on the daily chart.
Flags are considered to be continuation pattern in nature. So
expect the stock to resume its uptrend seen prior to the recent
phase of consolidation. Upmove above 290 was preceded by
bullish piercing line thus confirming an end to the short-term phase
of consolidation.
During the correction in early November, the stock found support at
its multiple moving averages. Thereafter, it began a phase of
consolidation, which eventually broke on the upside.
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Canara Bank,,,,,,,,,TGT 521.

Canara Bank on the long term chart, it has retraced 61.8% of

its previous upmove and the same level also coincides with the
support of its 200-DMA. Recent recovery in November has been
accompanied by impressive volumes. With PSU Bank Index
showing signs of a turnaround, it supports the argument for a
decent upside. The current upmove also corroborates the
minimum downside risk and very high upside potential in Canara
Bank.
It continues to remain in long term uptrend as it has seen gradual
recovery after hitting a low of 362 in September 2014. Canara
Bank has rallied to a new high after touching long term support
line, providing good entry point with better risk reward ratio.
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Technical And F& O View:

S3

8,065

S2

8,107

S1

8,154

NIFTY

8,200.70

R1

8,281

R2

8,325

R3

8,366
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Technical And F& O View:

Recovery from the low of 7,961 seems to be resumption of the

previous uptrend after a sharp decline in early-December. Nifty has

managed to rebound back above the rising trendline, thus turning
the break down below 8,000 a mere whipsaw. Also, the rising
channel on Index persists which indicates that the uptrend is intact.
This does not mean that price action would reverse sharply but it
could enter into sideways pattern as action shifts to smallcaps and
midcaps.Bank nifty rolls stood at 75% matching 1.6mn shares
rolled in November series, as traders carry over their position. PSU
Bank continues to outperform during the previous session. The
FIIs long/short rolls in index future stood at 64/24%, lowest over
the last one year.
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Conclusion:

After a pullback at start of the week, partly owing to short-

covering, the market succumbed to profit taking as the bulls ran

out of steam. Fresh weakness in the Rupee and Crude Oil dragged
the index to lower levels. The December series remained highly
volatile, but the Nifty managed to recover half of the losses it made
in by mid-December. On the economic front, the government
initiated major reforms this week by passing an ordinance on the
Coal Block Auctions and Insurance Amendment Bill.

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Contact Us
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