Equity Research Report 22 January 2018 Ways2Capital

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Monday, January 22, 2018 2 Copyright © 2018 Ways2Capital. All rights reserved

Market Wrap-Up

MAJOR INDICES

INDEX CLOSING (As on 5th Jan 18)

CLOSING (As on 29th Dec 17)

Weekly Change (in %)

NIFTY 50 10,894.70 10,681.25 2.00%

NIFTY 100 11,315.75 11234.5 0.72%

NIFTY 200 5,966.20 5,909.20 0.96%

NIFTY 500 9,723.10 9665.2 0.60%

INDIA VIX 13.98 13.73 1.82%

NIFTY BANK 26,909.50 25759.04 4.47%

NIFTY AUTO 11,677.55 11,908.40 -1.94%

NIFTY FIN SERVICE 11,073.25 10531.55 5.14%

NIFTY FMCG 27,517.10 27,196.65 1.18%

NIFTY IT 12,633.85 12099.2 4.42%

NIFTY MEDIA 3,540.55 3,592.10 -1.44%

NIFTY METAL 4,033.40 4189.5 -3.73%

NIFTY PHARMA 9,637.80 9,741.85 -1.07%

NIFTY PSU BANK 3,710.70 3639.1 1.97%

NIFTY PVT BANK 15,049.90 14,368.20 4.74%

NIFTY REALTY 347.30 366.8 -5.32%

CURRENCY MARKET UPDATE

Currency Pair Current Closing

Previous Closing


USDINR 63.84 63.61 0.36%

GBPINR 88.44 87.33 1.27%

EURINR 78.01 77.52 0.63%

JPYINR 0.58 0.57 0.63%

EURUSD 1.22 1.22 0.00%

GBPUSD 1.39 1.37 0.94%

Dollar Index 90.49 90.73 -0.26%

COMMODITY MARKET UPDATE

Commodity Current Closing

Previous Closing


Gold COMEX 1332.03 1342.34 -0.77%

Gold MCX 29765.00 29547.00 0.74%

Crude Oil NYMEX 63.46 64.47 -1.57%

Crude Oil MCX 4039.00 4065.00 -0.64%

Brent Oil NYMEX 68.78 69.89 -1.59%

Copper MCX 450.45 453.05 -0.57%

Natural Gas MCX 202.40 204.00 -0.78%


Market At a Glance

NIFTY50 WEEKLY GAINERS

SCRIP CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY CHANGE (in %)

ICICI Bank 353.55 317.70 11.28%

HDFC 1900.45 1721.20 10.41%

TCS 2954.75 2776.35 6.43%

Axis Bank 590.25 555.10 6.33%

Indiabulls Housing

1301.35 1224.60 6.27%

NIFTY50 WEEKLY LOSERS

SCRIP CURRENT CLOSING

PREVIOUS CLOSING

WEEKLY CHANGE (in %)

Coal India 284.45 309.00 7.94%

Bharti Infratel 346.4 363.90 4.81%

GAIL (India) 468.9 501.15 6.44%

Tata Motors 418.95 437.10 4.15%

Hindalco 258.2 268.85 3.96%


Economic Calendar

UPCOMING ECONOMIC EVENT CALENDER

Time Currency Event Forecast Previous

Tuesday, January 23, 2018 16:30 GBP CBI Industrial Trends Orders (Jan) 12.00 17.00

Wednesday, January 24, 2018

14:00 GBP Average Earnings Index +Bonus (Nov) 2.50% 2.50%

14:00 GBP Claimant Count Change (Dec) 3.2K 5.9K

15:00 GBP Unemployment Rate (Nov) 4.30% 4.30%

20:15 USD Manufacturing PMI (Jan) 55.00 55.10

20:15 USD Market Composite PMI 54.10

20:15 USD Service PMI (Jan) 54.00 53.70

20:30 USD Existing Home Sales (Dec) 5.70M 5.81M

20:30 USD Existing Home Sales (MoM) (Dec) -0.021 0.056

Thursday, January 25, 2018

20:30 USD New Home Sales (Dec) 679K 733K

Friday, January 26, 2018

15:00 GBP GDP (QoQ) (Q4) 0.40% 0.40%

15:00 GBP GDP (YoY) (Q4) 1.40% 1.70%

19:00 USD Core Durable Goods Orders (MoM) (Dec) 0.60% -0.10%

19:00 USD GDP (QoQ) (Q4) 3.00% 3.20%


Weekly Pivots

NIFTY 50 WEEKLY PIVOTS (CASH SEGMENT)

SCRIP NAME R4 R3 R2 R1 PP S1 S2 S3 S4

ADANIPORTS 513.50 484.70 455.90 444.85 427.08 416.00 398.25 369.45 340.65

AMBUJACEM 312.35 298.75 285.15 276.70 271.55 263.10 257.95 244.35 230.75

ASIANPAINT 1282.95 1252.65 1222.35 1206.20 1192.03 1175.85 1161.70 1131.40 1101.10

AUROPHARMA

765.40 726.80 688.20 666.20 649.58 627.55 610.95 572.35 533.75

AXISBANK 705.65 664.30 622.95 607.40 581.58 566.00 540.20 498.85 457.50

BAJAJ-AUTO 3502.55 3400.70 3298.85 3253.95 3196.98 3152.05 3095.10 2993.25 2891.40

BAJFINANCE 2198.10 2035.80 1873.50 1789.75 1711.17 1627.40 1548.85 1386.55 1224.25

BHARTIARTL 588.85 558.70 528.55 513.30 498.40 483.15 468.25 438.10 407.95

BOSCHLTD 21116.70 20716.70 20316.70 20133.35 19916.67 19733.30 19516.65 19116.65 18716.65

BPCL 564.30 535.80 507.30 492.20 478.78 463.65 450.25 421.75 393.25

CIPLA 661.20 642.75 624.30 614.65 605.85 596.20 587.40 568.95 550.50

COALINDIA 388.05 355.70 323.35 303.85 290.97 271.45 258.60 226.25 193.90

DRREDDY 2808.60 2699.65 2590.70 2538.40 2481.72 2429.40 2372.75 2263.80 2154.85

EICHERMOT 31347.15 30277.25 29207.35 28594.80 28137.45 27524.90 27067.55 25997.65 24927.75

GAIL 606.80 563.70 520.60 495.35 477.48 452.20 434.35 391.25 348.15

HCLTECH 1128.10 1066.60 1005.10 981.70 943.60 920.20 882.10 820.60 759.10

Continued .......


Weekly Pivots

NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)


HDFC 2288.70 2148.10 2007.50 1955.75 1866.90 1815.15 1726.30 1585.70 1445.10

HDFCBANK 2223.20 2123.15 2023.10 1986.25 1923.03 1886.15 1822.95 1722.90 1622.85

HEROMOTOCO 4127.65 3953.95 3780.25 3686.75 3606.52 3513.00 3432.80 3259.10 3085.40

HINDALCO 329.30 306.75 284.20 271.20 261.65 248.65 239.10 216.55 194.00

HINDPETRO 500.65 473.65 446.65 431.30 419.65 404.30 392.65 365.65 338.65

HINDUNILVR 1544.00 1487.15 1430.30 1396.85 1373.45 1340.00 1316.60 1259.75 1202.90

IBULHSGFIN 1630.05 1508.90 1387.75 1345.55 1266.58 1224.35 1145.40 1024.25 903.10

ICICIBANK 447.40 412.65 377.90 366.05 343.13 331.25 308.35 273.60 238.85

INDUSINDBK 1873.45 1808.55 1743.65 1712.10 1678.75 1647.20 1613.85 1548.95 1484.05

INFRATEL 472.65 433.40 394.15 370.55 354.88 331.25 315.60 276.35 237.10

INFY 1424.70 1324.90 1225.10 1185.50 1125.30 1085.70 1025.50 925.70 825.85

IOC 451.60 429.65 407.70 397.25 385.75 375.30 363.80 341.85 319.90

ITC 324.20 306.25 288.30 281.15 270.35 263.20 252.40 234.45 216.50

KOTAKBANK 1178.10 1134.55 1091.00 1074.50 1047.42 1030.90 1003.85 960.30 916.75

LT 1553.65 1488.90 1424.15 1398.55 1359.40 1333.80 1294.65 1229.90 1165.15

LUPIN 1012.50 979.95 947.40 935.20 914.82 902.60 882.25 849.70 817.15

Continued .......


Weekly Pivots

NIFTY50 WEEKLY PIVOTS (CASH SEGMENT)


M&M 870.45 833.65 796.85 781.25 760.05 744.45 723.25 686.45 649.65

MARUTI 10158.70 9895.80 9632.90 9483.95 9369.97 9221.00 9107.05 8844.15 8581.25

NTPC 188.30 183.10 177.90 175.20 172.70 170.00 167.50 162.30 157.10

ONGC 220.55 212.20 203.85 199.00 195.48 190.60 187.10 178.75 170.40

POWERGRID 215.40 209.15 202.90 199.25 196.62 192.95 190.35 184.10 177.85

RELIANCE 1087.75 1036.25 984.75 959.50 933.23 907.95 881.70 830.20 778.70

SBIN 382.00 356.80 331.60 320.20 306.40 295.00 281.20 256.00 230.80

SUNPHARMA 642.00 620.15 598.30 585.30 576.43 563.40 554.55 532.70 510.85

TATAMOTORS 512.65 482.70 452.75 435.50 422.78 405.50 392.80 362.85 332.90

TATASTEEL 914.35 863.85 813.35 783.20 762.83 732.65 712.30 661.80 611.30

TCS 3638.15 3391.20 3144.25 3059.55 2897.30 2812.60 2650.35 2403.40 2156.45

TECHM 619.20 597.00 574.80 562.80 552.57 540.55 530.35 508.15 485.95

ULTRACEMCO 5378.70 5049.80 4720.90 4512.95 4391.97 4184.00 4063.05 3734.15 3405.25

UPL 970.60 910.60 850.60 826.30 790.60 766.30 730.60 670.60 610.60

VEDL 398.70 376.75 354.80 343.65 332.83 321.65 310.85 288.90 266.95

WIPRO 387.20 366.60 346.00 337.40 325.40 316.80 304.80 284.20 263.60

YESBANK 431.25 402.35 373.45 361.10 344.55 332.20 315.65 286.75 257.85

ZEEL 700.80 667.30 633.80 615.80 600.28 582.25 566.75 533.25 499.75


Open Interest & Price Analysis

LONG BUILD-UP NIFTY OPTIONS OPEN INTEREST ANALYSIS

Scrip Change in OI

(in %) Change in Price

(in%)

Analysis : As per the analysis of above chart.

Major Resistance Level: 11000. Major Support Levels:- 10700 followed by 10500

PCJEWELLER 40.73% 6.76%

JUBLFOOD 40.36% 9.14%

HDFC 40.35% 8.26%

NIITTECH 35.93% 3.72%

MINDTREE 33.00% 10.93%

SHORT BUILD-UP

LONG UNWINDING

Scrip Change in OI


(in%)

Scrip Change in OI


(in%)

M&MFIN 28.54% -1.90% JSWENERGY -33.33% -3.26%

NATIONALUM 26.37% -8.41% RAMCOCEM -23.66% -1.24%

DCBBANK 25.46% -6.09% HAVELLS -23.06% -0.15%

IDBI 20.98% -1.22% JISLJALEQS -22.61% -5.10%

BEL 18.65% -3.33% DISHTV -21.54% -7.35%

SHORT COVERING

Scrip Change in OI


(in%)

TORNTPOWER -30.85% 2.59%

VGUARD -23.07% 2.91%

ZEEL -22.51% 0.99%

PNB -17.77% 1.40%

TORNTPHARM -16.71% 3.06%


Nifty Analysis

Fundamental Outlook Last week, equity benchmark index Nifty Jan futures consolidated on higher levels with the positive bias for the

entire week and made a new life time high of 10918. Fundamentally Nifty is still looking bullish due to continuous

positive trends from FII & DII and on the expectation of positive outcomes of economic reforms taken by centre

govt last year.

Nifty traded with a PE Ratio range of 27.44 – 26.96 during the week and sustaining in this range from the last

couple of months. FII & DII activity witnessed almost positive trend for the entire week & provided support to

benchmark index to sustain on the higher levels.

On Macroeconomic front; data like Industrial Production, Manufacturing Production & CPI released last week

which further provided support Nifty to sustain on high level due to positive outcome.

For this week, economic data like inflation, Trade Balance and export/ import coupled with the FII & DII activity

will provide further direction to the market.

Technical Outlook Last week, Nifty Jan Futures started the week on positive note and continued the same for the entire week.

It made a high of 10918 during the week and closed at 10901 with the marginal gain of 2.17% on weekly basis.

Last week nifty moves in uptrend and made it life time high

WEEKLY PIVOTS

PARTICULAR

LEVELS

R4 11587.00

R3 11334.00

R2 11081.00

R1 10991.00

PP 10828

P1 10738.00

P2 10575.00

P3 10322.00

P4 10069.00

Continued …....


Nifty Analysis

Technical Outlook

It’s consolidated below the important resistance level of 10800 entire week with the oversold RSI and above

200Days & 50Days SMA. Last week we, saw that market has broken its 10900 resistance area with higher

volume and open interest indicating building of long positions in it. Technically for this week, we can go for

buying in it from the lower levels.

WEEKLY STRATEGY

PERTICULAR TARGET

Action Buy

Entry Price Above 10900

Target 11050

Stop Loss 10810

TECHNICAL INDICATOR

ANALYSIS

INDICATOR CURRENT

TREND

20 Days EMA POSITIVE



RSI POSITIVE

MACD POSITIVE

STOCHASTIC POSITIVE

For this week, economic data like inflation, Trade Balance and export/ import coupled with the FII & DII activity

will provide further direction to the market.

Continued …....


Bank Nifty Analysis

Technical Outlook Last week, Bank Nifty Jan Futures made a high of 26947 and closed at 26896 with the marginal gain of 4.47% on

weekly basis. It’s move in upside in last week. Bank nifty break the important level of 26700 and reach upto the

level of 26900 with positive RSI. It’s also sustaining above the import technical indicators like 200Days & 50Days

SMA and technically for this week, we can further expect upside movement in it.

WEEKLY STRATEGY

PERTICULAR TARGET

Action Buy

Entry Price Above 27000

Target

27700/ 27750

Stop Loss 26535

WEEKLY PIVOTS

PARTICULAR LEVELS

R4 30090.00

R3 28905.00

R2 27720.00

R1 27308.00

PP 26535.00

P1 26123.00

P2 25350.00 For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.27000 it can test the

level of Rs.27700/ 27750 during the week. Trades can make buy position in it by maintaining a Stop Loss of

Rs.26535 in it.

P3 24165.00

P4 22980.00


KOTAK ( Call of the Week Futures)

Technical Outlook Last week kotak bank traded positive for the most part of the week and closed at 1057.60 with the marginal

weekly gain of 3.38% on weekly basis.

According to technical analysis kotak bank break important range of 1000-1050 we can expect further upside

movement in it above this level.

WEEKLY STRATEGY

PERTICULAR DETAILS

ACTION Buy

ENTRY PRICE Above 1074

TARGET 1094

STOP LOSS 1067

WEEKLY PIVOTS

PARTICULAR LEVELS

R4 1170.55

R3 1128.80

R2 1087.05

R1 1072.35

PP 1045.3

P1 1030.60

For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs.1060 it can test the

level of Rs.1080 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.1052.

P2 1003.55

P3 961.80

P4 920.05


BHARATFORG ( Call of the Week Futures)

Technical Outlook

Last week bharatforg traded positive for the most part of the week and closed at 735.50 with the marginal

weekly gain of 2.18% on weekly basis.according to technical analysis bharatforge moves in tight range of 720 to

740 during last week we can expect positive gain from this level.

WEEKLY STRATEGY

PARTICULAR TARGET

ACTION Buy

ENTRY PRICE 739

TARGET 751

STOP LOSS 733

WEEKLY PIVOTS

PARTICULAR LEVELS

R4 840.70

R3 802.05

R2 763.40

R1 749.45

PP 724.75

P1 710.80


level of Rs.751 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.733.

P2 686.10

P3 647.45

P4 608.80


IBVENTURE ( Call of the Week Cash )

Technical Outlook

Last week IBVENTURE started the week on negative note and after that traded higher for the entire week. It

broke the major resistance level of Rs.274 during the week and able to sustain above it and closed at Rs.274.95

Technically it’s still sustaining on higher levels with oversold RSI & positive bias and for this week we can expect

further upside movement in it.

WEEKLY STRATEGY

PARTICULAR TARGET

ACTION Buy

ENTRY PRICE 280

TARGET 299

Buy 265

WEEKLY PIVOTS

PARTICULAR LEVELS

R4 365.40

R3 332.50

R2 299.60

R1 287.30

PP 266.7

P1 254.40

For this week, traders can adopt buy on lower levels strategy in it and above the level of Rs 276 it can test the

level of Rs.299.00 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs.264.00 in

it.

P2 233.80

P3 200.90

P4 168.00


HDFC LIFE ( Call of the Week Cash)

Technical Outlook

Last week hdfc life started the week on higher note and traded higher side in entire week. It tasted the major

resistance level of Rs.490 during the week and able to break it and closed below the level of 490. With the

overall gain of 4.67% on weekly basis. Technically it’s still sustaining on higher levels with oversold RSI &

positive bias and for this week we can expect further upside movement in it.

WEEKLY STRATEGY

PARTICULAR TARGET

ACTION Buy

ENTRY PRICE Above 492

TARGET 520

STOP LOSS 470

WEEKLY PIVOTS

PARTICULAR LEVELS

R4 589.50

R3 552.20

R2 514.90

R1 498.20

PP 477.60

P1 460.90


level of Rs.520 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs 470.

P2 440.30

P3 403.00

P4 365.70


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DISCLOSURE (प्रकटीकरण) : High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market.

हाई ब्रो मारे्कट अनुसधंान ननवेश सलाहर्कार प्राइवेट लललमटेड या उसरे्क सहयोगी रं्कपननयां अनुसधंान ररपोटा में शालमल रं्कपननयों रे्क सार् र्कारोबार नहीं र्करती हैं और न ही कर्कसी भी तरह रे्क उत्पादों / प्रनतभनूतयों रे्क जारीर्कताा रे्क सार् जडुी हैं, जो यह सनुनक्श्चत र्करता है कर्क टहतों रे्क ललए र्कोई वास्तववर्क या सभंाववत सघंषा नहीं है | ननयामर्क ननर्काय रे्क अनुपालन र्को सनुनक्श्चत र्करने रे्क ललए हमने यह तय कर्कया है कर्क रं्कपनी और उसरे्क र्कोई भी प्रनतननधध बाज़ार में टे्रड नहीं र्करेंगे।

Clients are advised to consider information provided in the report as opinion only & make investment decision of their own. Clients are also advised to read & understand terms & conditions of services published on website. No litigations have been filed against the company since the incorporation of the company by regulatory body.

ग्राहर्कों र्को यह सलाह दी जाती है कर्क वे ररपोटा में दी गई जानर्कारी र्को रे्कवल राय रे्क रूप में देखें और ननवेश रे्क ललए स्वयं फैसला र्करें | ग्राहर्कों र्को वेबसाइट पर प्रर्कालशत सेवाओं रे्क ननयमों और शतों र्को पढ़ने और समझने र्की भी सलाह दी जाती है | रं्कपनी रे्क ननगमन रे्क बाद

ननयामर्क ननर्काय द्वारारं्कपनी रे्क खखलाफ र्कोई मरु्कदमा (याधचर्का) दायर नहीं कर्कया गया है।


DISCLOSURE APPENDIX (प्रकटीकरण पररशिष्ट ) :

The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views about the subject company or companies & their securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report.

ररपोटा ववश्लेषर्कों द्वारा तैयार र्की गयी है जो द्वारा हाई ब्रो मारे्कट अनुसधंान ननवेश सलाहर्कार प्राइवेट लललमटेड द्वारा ननयुवत हैं | इस ररपोटा में व्यवत सभी ववचार रं्कपनी रे्क बारे में व्यक्वतगत ववचारों र्को दशााता है और रं्कपननयों और उनर्की प्रनतभनूतयां और क्षनतपनूता (मआुवजे) र्का र्कोई टहस्सा, या इस शोध ररपोटा में ननटहत ववशेष सुझावों या ववचारों से प्रत्यक्ष या अप्रत्यक्ष रूप से संबधंधत नहीं होगा। DISCLOSURE IN TERMS OF CONFLICT OF INTEREST: हितों के संघर्ष के मामले में प्रकटीकरण :

(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;

(अ) औ | (b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial ownership of one percent or more in the securities of the subject company,

(ब) ए / | (c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;

(स) |

DISCLOSURE IN TERMS OF COMPENSATION: क्षततपतूत ष के संदर्ष में प्रकटीकरण:

High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage.

Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd.

हाई ब्रो मारे्कट अनुसधंान ननवेश सलाहर्कार प्राइवेट लललमटेड र्की पॉललसी अपने ववश्लेषर्कों, पेशेवरों र्को ववश्लेषर्क रे्क क्षेत्र में कर्कसी भी रं्कपनी र्की प्रनतभनूतयों रे्क स्वामी से ववश्लेषर्कों र्को ररपोटा र्करने से रोर्कती है। ववश्लेषर्क क्षनतपनूता : ववश्लेषर्क हाई ब्रो मारे्कट अनुसधंान ननवेश सलाहर्कार प्राइवेट लललमटेड रे्क वेतन आधाररत स्र्ायी र्कमाचारी है | DISCLOSURE IN TERMS OF PUBLIC APPEARANCE: सावषजतनक प्रकटन के मामले में प्रकटीकरण :

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months;

(अ) हाई ब्रो मारे्कट अनुसधंान ननवेश सलाहर्कार प्राइवेट लललमटेड या उसरे्क सहयोगीयों ने वपिले 12 महीनों में ववषय रं्कपनी से र्कोई मआुवजा प्राप्त नहीं कर्कया है |

(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report.

(ब)

(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company;

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Equity Research Report 22 January 2018 Ways2Capital