Equity Research Report 12 October 2015 Ways2Capital

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Nifty futures/Bank Nifty futures market closed on 7974 / 17235 . According to technical analysis if Nifty futuresand Bank Nifty future moves own-word in tomorrow treading session then 7920 will be small support for Nifty futures and 17057 will be small support for Bank Nifty futures.

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  • TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

    Nifty futures/Bank Nifty futures market closed on 7974 / 17235 . According to technical analysis if Nifty futures

    and Bank Nifty future moves down-word in tomorrow treading session then 7920 will be small support for Nifty

    futures and 17057 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go

    down to 7775 level and Bank Nifty futures can touch 16747 level in next few days. It will be hard support for

    Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8048 for Nifty futures and

    17515 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on

    8117 and 18043 for Bank Nifty futures.

    TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )NIFTY

    DAILY R2 R1 PP S1 S28491 8298 8202 8105 7913

    WEEKLY R2 R1 PP S1 S28816 8379 8161 7943 7506

    MONTHLY R2 R1 PP S1 S29027 8433 8137 7840 7246

    BANK NIFTY

    DAILY R2 R1 PP S1 S218411 17913 17664 17415 16917

    WEEKLY R2 R1 PP S1 S219131 18124 17620 17116 16108

    MONTHLY R2 R1 PP S1 S219627 18277 17602 16927 15577

    MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

    NIFTY 7947 8097 8222 8395

    BANK NIFTY 17172 17557 17945 18403

    PARABOLIC SAR DAILY WEEKLY MONTHLY

    NIFTY 7825 8372 8768BANK NIFTY 17186 18356 20335

  • NSE EQUITY DAILY LEVELS

    COMPANY NAME R3 R2 R1 PP S1 S2 S3

    ACC EQ 1443 1400 1374 1358 1331 1315 1272

    ALBK EQ 82 80 79 78 77 76 74AMBUJACEM EQ 220 214 211 209 206 203 197ASIAN PAINT EQ 937 899 876 861 838 823 785AXISBANK EQ 517 504 497 492 485 479 467BAJAJ-AUTO EQ 2552 2505 2477 2458 2430 2410 2363BANKBARODA EQ 198 191 186 184 179 176 169BANKINDIA EQ 158 151 148 145 141 138 132BHEL EQ 213 208 205 203 199 197 192BHARTIARTL EQ 357 352 349 346 344 340 335CIPLA EQ 712 699 694 686 681 674 661COALINDIA EQ 368 353 344 339 330 325 311DLF EQ 149 144 142 140 137 135 131DRREDDY EQ 4380 4321 4289 4262 4230 4203 4144GAIL EQ 321 316 313 310 308 304 299GRASIM EQ 3770 3712 3677 3654 3619 3595 3537HCLTECH EQ 879 861 855 844 838 827 809HDFC EQ 1335 1312 1302 1288 1278 1265 1241HDFCBANK EQ 1116 1101 1094 1087 1079 1072 1057HEROMOTOCO EQ 2624 2595 2580 2566 2551 2537 2508HINDALCO EQ 89 86 85 84 82 81 78HINDUNILVR EQ 860 839 828 819 808 799 778ICICIBANK EQ 299 292 289 284 281 277 270ITC EQ 351 347 345 342 340 338 333INDUSIND BANK EQ 990 966 953 943 930 920 867INFY EQ 1232 1195 1181 1158 1144 1121 1084JINDALSTEL EQ 78 74 71 70 68 66 62KOTAKBANK EQ 674 666 663 658 654 650 642LT EQ 1601 1575 1560 1549 1534 1523 1497M&M EQ 1317 1296 1284 1275 1263 1254 1233MRF EQ 44467 43097 42235 41727 40866 40357 38987MARUTI EQ 4581 4446 4361 4311 4226 4176 4041ONGC EQ 273 268 266 263 261 258 253ORIENTBANK EQ 158 152 148 146 142 140 134RCOM EQ 81 78 76 75 74 72 70RELCAPITAL EQ 403 391 384 380 373 368 357RELIANCE EQ 939 915 901 891 877 867 843RELINFRA EQ 383 374 369 365 360 356 347RPOWER EQ 49 48 47 46 45 44 43SBIN EQ 258 251 247 243 240 236 229SSLT( VEDL) EQ 122 111 107 100 96 90 79SUNPHARMA EQ 953 931 918 910 897 888 866TATAMOTORS EQ 255 249 247 244 241 238 233TATAPOWER EQ 73 72 71 70 69 68 66TATASTEEL EQ 270 259 255 248 244 238 227UNIONBANK EQ 199 191 186 183 178 175 168

  • TOP 15 ACHIEVERS // TOP 15 LOOSERS

    NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION )

    1. ONGC FUTURE : ONGC OPEN AT 260.90.IT GIVES MOVEMENT IN UPPER SIDE TODAY.ON

    DAILY CHART OF ONGC IT MOVES IN BULLISH TREND SHOWS CONINOUS UPPER SIDE

    MOVEMENT WE CAN MADE LONG POSTION IN ONGC FUTURE ABOVE 267 TGT 280 SL 259.

    2. TATA STEEL FUTURE : TOAY TATA STEEL OPEN AT 242.25.TODAY TATA STEEL MOVES IN

    BULLSIH TREND REACH ON LEVEL OF 249. ON DAILY CHART OF TATA STEEL SHOW

    CONTINOUS UPPER SIDE MOVEMENT WE CAN MADE LONG POSTION IN TATA STEEL

    ABOVE 254 TGT 274 SL 247.

    3. RECLTD FUTURE : RECLTD FUTURE OPEN AT 271.TODAY IT SHOWS BEARISH TREND. ON

    DAILY CHART OF RECLTD UTRE SHOWS BEARISH TREND WE CAN MADE SHORT POSTION

    IN RECLTD BELOW THE LEVEL OF 262 TGT 240 SL 275

    4. HINDALCO FUTURE : HINDALCO OPEN AT 83.15.TODAY HINDALCO SHOWS UPPER SIDE

    MOVEMENT.ON DAILY CHART OF HINDALCO SHOW UPPER SIDE MOVEMNT WE CAN

    MADE LONG POSTION IN HINDALCO ABOVE 88 TGT 94 SL 83.

    SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

    1 UNITED NILGIRI TEA 332.20 296.50 -10.75

    2 VARDHAMAN TEXTILES

    924.80 835.10 -9.70

    3 EROS INTERNATIONAL 532.90 484.70 -9.04

    4 TVS ELECTRONICS 103.90 96.20 -7.41

    5MARUTI SUZUKI 4682.30 4357.15 -6.94

    6 MINDTREE LTD 1516.15 1448 -4.49

    7 GUJ APOLLO INDUS 126 120.80 -4.13

    8 DISH TV INDIA LTD 110.30 106.70 -3.26

    9 CHOLAMANDALAM 649.95 627.25 -3.05

    10 VARDHAMAN HOLDING

    1120 1090.60 -2.63

    11GUJARAT GAS 505.05 493.05 -2.38

    12 VEDEOCON INDUS 141.20 137.85 -2.37

    13 TEC MAHINDRA LTS 570.40 559.85 -1.85

    14 SOM DISTILLERIES 200.35 196.70 -1.82

    15IDBI BANK 81.50 80.05 -1.78

    SR.NO SCRIPT NAME PREVCLOSE

    CMP % CHANGE

    1HEG LTD 138.45 192.50

    +39.04

    2 TATA STEEL 201.40 247 +22.65

    3SHAKTI PUMPS 123.60 151.50

    +22.57

    4 JINDAL STEEL & PWR 58.50 71.65 +22.48

    5FUTURE RETAIL 120.40 147.15

    +22.22

    6 PC JEWELLER LTD 343 414.70 +20.90

    7TATA MOTORS 288.75 348.15

    +20.57

    8 THIRUMALA CHEM, 219.70 264.50 +20.39

    9RCOM 63.95 76.55

    +19.70

    10 RAJESH EXPORTS 555.20 658.80 +18.66

    11VEDANTA 86.20 101.90

    +18.21

    12 GATI LTD 137.30 162 +17.99

    13UNITECH LTD 6.20 7.30

    +17.74

    14 CAIRN INDIA 145.10 169.65 +16.92

    15ONGC 226.40 263.50

    +16.38

  • 5. VEDL FUTURE : TODAY VEDL OPEN AT 94.90.TODAY VEDL SHOWS BULLISH TREND

    REACH ON THE LEVEL OF 104 .ON DAILY CHART OF VEDL ALSO SHOWS BULLISH TREND.

    WE CAN MADE LONG POSITION IN VEDL ABOVE THE LEVEL OF 106 TGT 120 SL 98.

    6. HINDALCO : HINDALCO GAINED ABOUT 25 % LAST WEEK. LONG POSITION CAN BE

    MADE IN IT ABOVE 86 FOR THE TARGET OF 92 WITH SL OF 80.

    7. FRL : FRL GAINED 20% LAST WEEK, IF IT TRADES ABOVE 150 THEN IT MAY TEST LEVEL

    OF 165/178.LONG POSITION CAN BE MADE ABOVE 152 FOR THE TGT OF 170 WITH SL OF

    135.

    8. SUZLON : SUZLON GAINED 15% LAST WEEK AND MADE HIGH OF 23.50. LONG POSITION

    CAN BE MADE ABOVE 25 FOR THE TARGET OF 29.75 WITH SL OF 22.65.

    9. VEDL : VEDL GAINED ABOUT 15% LAST WEEK AND THIS UPWARD MOMENTUM MAY

    CONTINUE . LONG POSITION CAN BE MADE ABOVE 105 FOR TGT OF 115 WITH SL OF 95.

    10. IDEA : IDEA GAINED ABOUT 14% LAST WEEK AND MADE HIGH OF 160.25.LONG POSITION

    CAN BE MADE IN IT ABOVE 160.50 FOR TGT OF 171 WITH SL OF 150.

  • NSE - WEEKLY NEWS LETTERS

    TOP NEWS OF THE WEEK

    C- Corporation CREDAI appeals to CCI against cement cartel - The Confederation ofReal Estate Developer's Associations of India (CREDAI) has appealed to Competition

    Commission of India (CCI) against cement manufacturers who have increased the prices of

    cement. Recently, CREDAI NCR has banned cement manufactured by companies like

    Ultratech, Lafarge and others for arbitrarily increasing the price of cement per bag by 30-40%.

    On an appeal by CREDAI in 2012, CCI had held the cement manufacturers have formed a

    cartel. In June 2012, CCI has penalised top cement manufacturers with a combined fine of Rs

    6,000 crore on the charges of cartelisation leveled by CREDAI. Lafarge, UltraTech, ACC,

    Ambuja Cements, JK Cement, Madras Cements and India Cements among others were

    penalised. These companies denied the charges and petitioned the Competition Appellate

    Tribunal, where the matter is still pending. CREDAI is of the view that despite sluggish

    demand for cement from real estate developers and infrastructure companies, the price of

    cement per bag has been increased arbitrarily. This has lead to increase cost in realty projects,

    which is ultimately passed on to the common man. CREDAI also highlighted CCIs order dated

    June 20, 2012 wherein CCI has directed cement manufacturers to 'cease and desist' from

    anti-competitive practices.

    Jet Airways gains 2.3% after fare cuts on overseas routes - Jet Airways jumped zoomed2.3% at Rs. 329.40 after the airline company announced a special attractive offer on Economy

    and Premiere fares, for its guests travelling on the airlines international network This offer is

    also valid for travel in conjunction with Etihad flights over Abu Dhabi gateway for Middle

    East, Europe, North America and Australia, and will offer guests attractive discounts of up to

    30% on base fares The scrip opened at Rs. 324.3 and touched a high and low of Rs. 334.95 and

    Rs. 322.6 respectively. A total of 1887144(NSE+BSE) shares were traded on the counter. The

    current market cap of the company is Rs. 3657.35 crore. The BSE group 'A' stock of face value

    Rs. 10 touched a 52 week high of Rs. 543.5 on 02-Feb-2015 and a 52 week low of Rs. 208.4 on

    08-Oct-2014. Last one week high and low of the scrip stood at Rs. 340.7 and Rs. 310.5

    respectively. The promoters holding in the company stood at 51 % while Institutions and

    Non-Institutions held 15.46 % and 33.54 % respectively. The stock traded above its 200 DMA.

    Intex to invest Rs. 1,000 crore to set up manufacturing unit at Greater Noida -Sistema Shyam Teleservices is planning to launch its Internet calling plans today, encouraging

  • customers to make national and international call using OTT (over the top) voice service

    offered by Skype, WhatsApp, Viber, Google Chat, Messenger or FaceTime. According to

    reports, CDMA operator's subscribers would pay 50-75% less using VoIP apps for national and

    international calling as compared to the calls charges of traditional telephony. This move comes

    against the background of top telecom operators like Airtel, Vodafone, Idea Cellular accusing

    OTT voice service providers of crushing their voice calling business and concerns about Net

    Neutrality. Top telcos, opposing the VoIP calling apps, had asked telecom department to

    regulate internet calls. Sistema executive was quoted as saying, Recommended restriction on

    calls made using VoIP services would only apply to Internet service providers, and not regular

    mobile operators holding unified licences. Sistema Shyam plans to offer Internet calling

    service as a unified permit holder. Among Sistema Shyam's latest Internet calling plans, a

    prepaid user opting for a 5GB data plan at Rs 499 will be able to make more than 83 hours of

    Internet calls over a 28-day period. Postpaid users opting for a 10GB data plan can make

    double that of Internet calls.

    Jet Airways announces global sale with attractive fares - Ahead of the festive season, JetAirways, India's premier international airline, today announced a special attractive offer on

    Economy and Premiere fares, for its guests travelling on the airlines international network. The

    6 day special fare offer for sale is effective from October 05, 2015 through to October 10, 2015,

    and valid for travel from October 5, 2015 onwards on all Jet Airways flights aligned with

    Etihad Airways and also on Jet Airways direct flights.These special fares are on offer for travel

    onboard Jet Airways operated international flights to destinations in the Gulf, SAARC,

    ASEAN, Europe, U.S. and Canada regions. This offer is also valid for travel in conjunction

    with Etihad flights over Abu Dhabi gateway for Middle East, Europe, North America and

    Australia, and will offer guests attractive discounts of up to 30% on base fares. Gaurang Shetty,

    Sr. Vice-President, Commercial, Jet Airways, said: "Jet Airways guests can now avail of this

    very attractive global fares offer to plan their international travel and experience our airlines'

    exceptional services, unmatched global network, flexible schedules and enhanced connectivity.

    We are indeed pleased to offer our guests a choice of over 140 international destinations

    onboard Jet Airways flights and that of its partner airlines. I am confident that this promotion

    will be popular with our guests while they celebrate the festive season and new year with

    family and friends.

    Sebi wants mutual funds to lower costs - To safeguard investors' interest and help themmaximize returns, markets regulator SEBI is set to tighten norms for mutual funds by asking

  • them to reduce the cost of investments and be more vigilant about risky assets. The watchdog

    also wants fund houses to improve their disclosure regime and make it simpler for investors by

    doing away with the current practice of having too many schemes. A slew of proposals are

    being discussed in this regard by Sebi's advisory committee on mutual funds, and a final

    decision will be taken soon by the regulator on the basis of recommendations of this panel, a

    top official said.

    Top Economy news

    Germany offered 2bn Euros to the Indian government for developing a clean energy corridor

    and solar projects even as both sides agreed to resume the talks for the India-European Union

    trade pact.

    Improved investor sentiment and resilience to external shocks are expected to increase India's

    GDP growth rate to 7.5% during 2015-16 and further to 7.8% in the next fiscal year, predicts

    the World Bank.

    Government said revenue collection will fall short by Rs500bn but expressed confidence that

    economic growth will exceed 7.5%, with fiscal deficit remaining within the budgeted target.

    The Sagarmala Project, aimed at port-led development in coastal areas, is bound to boost the

    country's economy and the government has lined up about Rs700bn for its 12 major ports,

    Union Minister said.

    Government collected Rs 41.5bn during the 90-day black money disclosure compliance

    window, which is higher than the previously announced amount of Rs37.7bn, Revenue

    Secretary said.

    National Bank for Agriculture and Rural Development has sanctioned Rs21.1bn to the Gujarat

    government under Rural Infrastructure Development Fund for the 'Saurashtra Narmada

    Avataran Irrigation' yojna that will firm up irrigation potential over an area of more than 60,000

    hectares in Gujarat.

    The government has embarked on global road shows at four locations, including the US and the

    UK, to attract investments for its big-ticket stake sale in the country's largest power producer

    NTPC and BEL that may fetch around Rs 66bn to the exchequer.

  • Prime Minister expressed the hope that Goods and Services Tax will be rolled out in 2016.

    For every US$100 needed for protection, only US$7.8 of saving and insurance is in place for a

    typical Indian household, leaving a massive mortality protection gap of US$92.2, says a study

    by Swiss Re.

    Finance Minister has indicated a rational tax rate for individuals and bringing down of

    corporate tax to 25% flat in four years beginning next fiscal along with removal of exemptions

    except those that encourage individual savings.

    37 consulting firms have been assigned for preparing action plans for the 88 cities proposed to

    be developed as Smart Cities.

    The Union government has approved mechanization of three Berths at the Paradip Port at an

    estimated cost of Rs 14.38bn through private investment.

    The Centre cleared a proposal to give 78-day wages as productivity-linked bonus to over 1.2

    mn railway employees for the fiscal 2014-15, the same as in the last three years, despite the

    financial crunch.

    Investors pulled out over Rs. 770bn from mutual fund schemes in September, making it the

    highest outflow in six months, with liquid and money markets contributing the most to the

    outflow.

    India approved protocols amending tax pacts with Israel and Vietnam to include effective

    sharing of bank information, a move aimed at dealing with the menace of black money.

    India is looking to muscle up its trade with Latin America through focused trade pacts

    including one with Chile which will be announced soon, Commerce Secretary said.

    At least six insurance companies have evinced interest in raising the stake of their foreign

    partners from present 26% to 49%, Insurance Regulatory and Development Authority

    Chairman said.

  • Environment Ministrys expert panel, EAC, has suggested use of imported coal with higher ash

    content of up to 25%, as against 12% now, to help domestic thermal power plants use higher

    grade coal and bring down the cost of generation.

    According to the Ministry of New and Renewable Energy (MNRE), India today has installed

    solar capacity of 4,262 MW, of which 518 MW were built in the current financial year. MNRE

    expects 4,345 MW of fresh capacity to come up in 2015-16

    Top Corporate News

    Maruti Suzuki India has approved key contracts that are to be entered into with a fully owned

    subsidiary of Suzuki Motor Corp for erecting the new Gujarat plant.

    Apollo Hospitals announced its entry into the homecare domain with the launch of services in

    Hyderabad, New Delhi and Chennai.

    Vedanta Resources Plc's Zambian unit, Konkola Copper Mines, will send an additional 148

    workers on forced leave, citing weak copper prices and power shortages.

    Indiabulls Housing Finance Company Ltd said its proposed plan to raise up to US$1bn by

    way of equity or convertible securities has been approved by shareholders.

    HDFC said it has raised about Rs100bn through mix of warrants and non-convertible

    debentures to qualified institutional investors.

    LIC has lowered its stake in Chennai Petroleum Corporation Ltd to 5.04% by selling 2% stake

    in the company.

    Adani Ports and Larsen & Toubro said they have inked a pact to oversee operations of

    Kattupalli Port in Tamil Nadu.

    Bank of India and Union Bank of India have issued equity shares worth Rs24.5bn and

    Rs10.8bn respectively to the government on preferential basis for capital infusion.

    NTPC will consider selling electricity to Bangladesh from its upcoming 750 MW plant at

  • Kokrajhar in Assam once the neighboring country finalizes plans to buy power from Palatana

    project in Tripura.

    NMDC has slashed prices of iron ore fines by more than 52% to Rs1,460 per tonne for the

    current month as compared to Rs3,060 a tonne in January this year as it faces subdued ore

    demand.

    Belgian based KBC Asset Management plans to exit Indian market by selling its stake in the

    mutual fund business to its joint venture partner Union Bank of India.

    Apollo Tyres, opened first branded retail outlet in Lebanon. After Dubai and Kuwait, this is the

    third branded retail outlet of Apollo in the West Asian region.

    SpiceJet announced launching of two direct flights to Dubai, one each from Amritsar and

    Kozhikode, from next month and offered an all-inclusive introductory one-way fare of Rs4,999.

    Aashirvaad ghee will make its debut this Diwali as ITC Ltd plans to enter into the dairy

    segment.

    Lanco Infratech Ltd has allotted 265.1 mn equity shares of Re 1 each at a price of Rs6.30 by

    conversion of promoters contribution of Rs1.6bn into equity shares of the company.

    Cox & Kings owned Meininger Hotels will open a hotel in Budapest, Hungary by spring of 2018.

    Jet Airways announced discounts of up to 30% on its overseas fares and those sold by its

    strategic partner Etihad Airways.

    Bank of Baroda has detected Rs3.5bn bill discounting irregularity and initiated an investigation

    into it.

    A giant coal project under development in Australia by Adani Enterprises is facing further delays

    over environmental permitting, Australia's environment minister said.

  • Bank of Maharashtra said it has received shareholders' approval to raise Rs3.9bn by issuing

    105.1 mn equity shares on preferential basis to the government.

    Tata Chemicals, the maker of branded salt and pulses, will create a new umbrella brand for its

    foods portfolio as it looks to treble revenues to Rs50bn in 5 years by entering newer product

    categories.

    NIIT announced the launch of NIIT.tv portal. It is an internet TV portal that brings skilling from

    NIIT classrooms to every digitally connected Indian, for free, and can be accessed on a

    computer, tablet or smartphone anytime anywhere.

    Suzlon Energy has received an repeat order from Orange Renewable for installation of 100.8MW

    at Beluguppa in the state of Andhra Pradesh.

    Reliance MediaWorks has sold 9.75% stake in media services major Prime Focus for over

    Rs1.55bn through an open market transaction.

    Siemens has signed an MoU with Infrastructure Leasing and Financial Services and Gujarat

    International Finance Tec-City Company to develop smart mobility solutions for the tec-city.

    Tata Motors launched its two latest car models in South Africa after a gap of three years in a bid

    to become a bigger player in the highly competitive market of the country.

    Redington (India) Ltd, through its step down subsidiary Redington Gulf FZE, is planning to

    acquire Turkey-based Oracle distributor Linkplus over a period of time.

    KEC International has won new orders worth Rs6.68bn in its transmission & distribution, cables

    and renewable businesses.

    Punj Lloyd has won Rs4.88bn worth projects in the power sector, including two projects in the

    transmission and distribution segment from Power Grid Corp.

    NMDC has incorporated Jharkhand Kolhan Steel, a wholly owned subsidiary company for

    development of steel plant in the state.

  • Jubilant Life Sciences has received approval from the US health regulator to market Indomethacin

    capsule used for treating pains.

    Dubai-based private equity firm Abraaj Group and Aditya Birla Group have agreed to invest

    jointly in building and operating new solar power plants in India.

    Private life insurer Bajaj Allianz Life Insurance and private sector bank Dhanlaxmi Bank have

    tied-up for the latter to become a corporate agent of the insurer.

    ICICI Bank launched a service mVisa to enable customers to make electronic payments from

    their smartphones at physical stores, e-commerce and other deliveries at home, radio taxis, and

    utility billers, among others.

    Crompton Greaves announced the divestment of its entire 50% shareholding in CG Lucy

    Switchgear Limited to W Lucy & Co Limited, UK for a consideration of Euro 5.5 mn.

    Cipla has tied up with Serum Institute of India to distribute vaccines in South Africa.

    Reliance Infrastructure will sell its cement business as part of plans to cut debt through sale of

    non-core assets.

    CARE has upgraded assigned investment grade BBB- rating to Suzlon for its outstanding bank

    facilities and to the proposed commercial paper instrument. The rating is valid until September

    15, 2016.

    Apollo Hospitals Enterprise said its subsidiary Apollo Health & Lifestyle plans to invest up to

    Rs5bn for expansion going forward.

    Man Industries announced that it has received orders worth c.Rs7bn from international and

    domestic customers for supply of pipes for oil, gas and water sector projects.

    Rajesh Exports has bagged an export order worth Rs.13.6bn for gold and diamond studded

    jewellery and medallions from the UAE.

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