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Page 1: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Disclosures and Disclaimer : This report must be read with the disclosures in the Disclosure appendix, and with the Disclaimer, which forms part of it. This document does not contain any investment views or opinions.

Comfort Securities Limited

Daily Research Reports

You will enjoy all the comforts of financial world when you alight with us.

Page 2: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Comfort

Flows From

WISDOM…

Welcome to

The world out there is uncertain. On this backdrop, the market volatility is bound to increase. Believe us, even the big

investors’ sentiment will oscillate—and that is why it is important for us to safely navigate these difficult times.

To do so, Comfort Securities Ltd. brings you this daily market commentary which will help you to sharpen your instincts

on investments in equity markets, gold, silver, crude-oil, USD/INR, the Dow Jones index, Hang Seng index, Euro-Dollar,

etc. On the next few pages, you can learn more about the same. We would love to answer any further questions you may

have in a one-one discussion.

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Welcome Note

Tuesday30th October, 2018

Page 3: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Stock Of The Day: (F & O)

Forecast and Analysis

CONTENTSCONTENTS

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Title Page No.

'30,000 feet view’: The big picture of Dalal Street 04-07

Stock Of The Day: (F & O) 08-09

Equity Derivatives 10

Daily Pivot Table (Equities) 11

Forecast and Analysis 12-14

Daily Pivot Table (Commodities) 15

Disclaimer 16

'30,000 feet view’:

The big picture of Dalal Street

'30,000 feet view’:

The big picture of Dalal Street

Page 4: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Enjoy Your Comfort Zone.

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'30,000 feet view’: newsletter provides insights and themes for Indian equity markets. We also try and cover international themes for the day. This newsletter is quite popular with traders as it covers the most preferred trading strategy for Sensex/Nifty for the day.

In Chart of the day section, we recommend a stock which is likely to move significantly in the short term, clearly defining the supports, the resistances and bias for the stock.

In a nutshell, '30,000 feet view’: covers themes and insights for the day.

‘30,000 feet view’: The big picture of Dalal Street

Page 5: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

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Nifty Outlook

Intraday

Medium Term

Long Term

Key Levels to Watch

Nifty Support

Nifty Resistance

Pivot Level

Nifty

Outlook for the Day

INDICES

Nifty

Bank Nifty

Nifty Auto Index

Nifty FMCG Index

Nifty Infra Index

Nifty IT Index

Nifty Media Index

Nifty Midcap Index

Nifty Metal Index

Nifty Pharma Index

Nifty Reality Index

Nifty Smallcap Index

Sensex

SGX Nifty

‘30,000 feet view’: The big picture of Dalal Street

Good Morning & Welcome to Tuesday's trading action at Dalal Street, dated 30th

of October 2018.

The bulls came roaring back at Dalal Street in Monday's trade, up 2.20%.

The positive key catalyst: Reports of RBI planning to buy 400 billion rupees of government

bonds via open-market operations in November, that aimed at injecting liquidity into the

system.

Amidst this positive backdrop, Sensex ended a tad above the psychological 34,000 mark and

Nifty above the psychological 10,250 mark.

The big question: Was Monday's rally a dead cat bounce?

For Buy and Hold investors, confirmation of a definitive strength only if Nifty moves above its

200-day moving average i:e 10,775. Until then, on any strength in our markets, an investor

should act like the cat on a hot tin roof - ready to jump to a safe place.

So, what would be the victory of a cat on a hot tin roof?

Definitely, not just staying on it -- So, if you have investment mindset, need to exit on any

strength from here on. But if you like to trade then should be looking to buy on any strength on

Nifty above 10,301 mark

Bottom line:

Trader: Buy above 10,301.

Investor: Lighten long positions on any excessive strength in Nifty towards 10,700.

Outlook for Tuesday: Volatile session likely. Negative start.

Volatility likely to be hallmark of today's trade -- likely to remain elevated in near term as bulls

and bears continue to face off for control of the market.

Overnight, Wall Street tanked on news report that the Trump administration is set to press its

trade war with China. The U.S. is preparing to announce by early December tariffs on all

remaining Chinese imports if talks next month between presidents Donald Trump and Xi

Jinping fail to ease the trade war. Amidst this news report, the Dow Jones industrials turned

352-point gain to a more than 300-point loss intraday Monday.

The need of the hour for the bulls camp is any sort of resolution of the trade standoff between

the U.S and China. The bulls camp must be also pinning hopes on extreme oversold conditions

as that could act as key catalyst providing impetus to move higher. From perma-bulls

perspective, Nifty needs to hang onto the psychological 10,000 for both price and momentum

to stay intact.

The next big question of the day: Will Nifty move up again in today's trade?

Well, the bulls will try their level best to hunt for positive session, amid oversold conditions in

short term charts; but honestly speaking, for the day, Dalal Street’s fortunes rides on global

cues.

Sadly, the cues are negative at the time of writing.

Amidst this backdrop, expect a nervous open for our stock markets. That brings us to our call

of the day which suggests, extreme turbulence likely to grip Dalal Street in today's trade and

with interweek perspective, market's mood will swing depending on outcome of following

catalysts:

1. Liquidity concerns. Market participants are sensing that large volume of commercial

papers are maturing by November 14. The street will anxiously watch for fresh distress

signs in this space.

2. Q2 results of corporate India.

3. The upcoming assembly elections in five states- Madhya Pradesh, Rajasthan,

Chhattisgarh, Mizoram and Telangana.

10251 2.20%

24960 2.21%

8724 1.70%

28258 0.87%

2930 3.37%

14133 2.42%

2424 2.76%

4615 3.83%

3370 2.61%

9590 5.21%

212 3.31%

5892 2.51%

34067 2.15%

10253 -0.23%

Buy on dips.

Neutral (10071-10221)

Neutral (9750-10811)

Neutral (11501)

10111 & 9951

10301 & 10487

10775

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Technical Strategy

‘30,000 feet view’: The big picture of Dalal Street

4. Trend in Oil prices on backdrop of US sanctions on Iran. The US sanctions on Iranian

oil take effect in a week’s time.

5. Global trade war tiff.

6. September Auto sales: The street will spy with one big eye on the auto firms declaring

their sales data for September. The street will hope for some revival ahead of crucial

festive season as well.

STOCKS TO WATCH:

• Our chart of the day suggests establishing long positions in stocks like HAVELLS,

BHARAT FORGE and BAJAJ FINSERV with interweek perspective on any sharp

corrective decline.

• Bullish stocks: BAJAJ FINANCE, SRF, DABUR, HAVELLS, REC.

• Bearish stocks: SBI, TORRENT POWER, HDFC BANK, BHARTI AIRTEL, YES BANK,

BAJAJ AUTO, NTPC, RCOM.

• Show Me the Money: Buy Bajaj Finserv (5410): Oversold conditions prevail. Positive

bias as long as 5149 support is held. Interweek Strategy: Buy between 5324-5345

zone, targeting 5601 and then at 5799-5819 zone with stop below 5121.

• Stocks banned in F&O segment for today: ADANI POWER.

• This week, the event calendar is rather blank and thus focus again shifts to Q2 earning.

The prominent firms announcing Q2 are:

• Tuesday: 3M INDIA, ABB, ACCLEYA, BANK OF BARODA, BASF, CHOLAMANDALAM

FINANCE, DALMIA BHARAT, DENA BANK, IDFC, IRB, JK TYRE, NAUKRI, NAVIN

FLUORO, NOCIL, PIDILITE, RAMCO CEMENTS, TATA GLOBAL, TECH MAHINDRA,

• Wednesday: ADANI ENTERPRISES, ADANI POWER, AJANTA PHARMA, CANARA

BANK, CASTROL, DABUR, ESCORTS, LUPIN, LT, HERIGE FOODS, STRIDES

ARCOLAB, TATA MOTORS, TATA MOTORS DVR, TINPLATE, VEDANTA.

• Thursday: AARTI INDUSTRIES, ARVIND, AUROBINDO LAB, BERGER PAINTS,

CERA CERAMIC, DLF, ECLERX, GNFC, GODREJ PROPERTIES, GREAVES COTTON,

HCC, HDFC, HIKAL, HPCL, MARICO, MOREPAN LAB, SRF, SUNDRAM FINANCE,

TATA COMMUNICATION, TRENT, VESUVIUS.

• Friday: AXIS BANK, BAJAJ HINDUSTAN, BATA INDIA, BHARAT FORGE, ENIL,

EQUITAS, GE SHIPPING, GILLETTE, GODREJ CONSUMER, GSFC, GUJ ALKALI,

HINDALCO, NTPC, OFSS, PFC, PNB, RELIANCE POWER, SAIL, TVS ELECTRONICS,

TV TODAY, VMART.

GLOBAL CUES:

• Wall Street ended sharply lower in Monday's trade. The negative catalysts for the

slump in stock prices were:

1. Persistent worries about slowing global growth.

2. Escalating tariff clashes between the U.S. and China.

3. Overbought conditions.

4. Rising interest rates

5. Doubts about whether equities can count on support from corporate earnings.

These thoughts crop up because of recent disappointing results from a handful of

megacap companies.

FII/DII & OPTIONS DATA:

• As per Monday’s Provisional Data available on the NSE, FII’s sold shares

worth Rs. 2230.79 crores in the Indian Equity Market. DIIs on the other

hand bought shares worth Rs. 2526.90 crores in the Indian Equity market.

In Monday’s trade, M&M Financial enjoyed a

strong session, up 2.44%.

Technically, M&M Financial is attempting a major

breakout on daily charts from an lower

consolidation zone.

The stock is in consolidation mode and the

momentum oscillators will shift on buy mode on

any move above 421 and such up move needs to

be backed by increases in volumes.

Key support to watch in near term is at 377.50

zone. Medium term supports seen at 351 zone.

Establish long positions between 379-385 zone,

targeting 421 zone and then at 442.50 and final

aggressive targets at 461-463 zone with strict

stop at 371.

M&M FINANCIAL

Action

Target

Support

Resistance

Holding Period

401.55

Buy on dips.

445

377.50/35122677

425/463

9 Days.

Page 7: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

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‘30,000 feet view’: The big picture of Dalal Street

• As per option data, key resistance level for the October series for Nifty are at 10,800 strike price as maximum call open interest of 18.78 lakh

contracts were seen at the 10,800 strike price. Key support level for the October series is at 10,000 as Maximum Put open interest of 38.79 lakh

contracts was seen at the 10,000 strike price.

COMMODITY CUES:

• Oil prices finished slightly lower on Monday amidst worries about global growth concerns.

• Gold prices were seen trading with slight negative bias amidst profit booking. Key medium term support seen at 31201 mark. Interweek

strategy: Establish long positions between 31251-31301 zone, targeting 32451 mark and then aggressive targets at 32851-32901 with stop at

31101..

• Copper prices were seen trading rangebound in Monday's trade with slight negative bias. Interweek strategy: Establish long positions only above

457, targeting 465 mark and then at 479 with stop at 433.

MACRO WATCH:

• The Nikkei Manufacturing Purchasing Managers' Index (PMI) for October will be released on Thursday, November 1, and the fiscal deficit data for

September is due on Wednesday, October 31.

• The upcoming assembly elections in five states: Madhya Pradesh, Rajasthan, Chhattisgarh, Mizoram and Telangana. While Chhattisgarh

will go to the polls in two phases on November 12 and 20, the Madhya Pradesh and Mizoram Assembly elections will be held on November 28.

Polling in Rajasthan and Telangana will be held on December 7. Counting of votes will be held across all the five states on December 11.

• The landscape is bit scary especially on the escalating trade tension between U.S-China. This catalyst could be the real villain rattling worldwide

stock markets. The heightened tensions between U.S. -China could not only hamper U.S. economic growth but derail the global economy at

large. At the time of writing, a tit-for-tat tariff battle between Beijing and Washington remains intact.

• The Federal Reserve remains on its gradual rate-hike path.

CURRENCIES & BONDS:

• The rupee on Friday closed at Rs. 73.44 to a US dollar, strengthening by 3 paise from its Friday's close of 73.47. Intermonth strategy: Buy

between 72-72.50 zone, targeting 75 and then aggressive targets at 77 with strict stop below 71.45.

What Technical Tells Us on Nifty:

After Fridays' dismissal performance, the bulls came roaring back at Dalal Street in Monday's trade, and most importantly, the gains were despite a 2%

fall in Chinese stock markets. Chinese stock markets were down amidst worries about U.S.-China trade relations and on backdrop of deteriorating

health of the tech sector on Wall Street.

Amidst this positive backdrop, Sensex ended a tad above the psychological 34,000 mark and Nifty above the psychological 10,250 mark.

The market breadth, indicating the overall health of the market was positive. The BSE Mid-Cap index rose 2.8%. The BSE Small-Cap index rose 2.06%;

matching Nifty's gains.

Technically speaking, key support for the day on Nifty is at 9,951 mark. The technical landscape will worsen further if Nifty closes below the

9,951 mark as that would open the door to massive technical selling, possibly quickly towards the 9750-9801 zone.

The intraday bias is negative and selling on any excessive intraday strength should be the preferred strategy.

The make or break hurdles are at 10,775 mark. Intraday hurdles at 10,301 mark.

The price action for Nifty is suggesting that we are likely to see an 9950 -

10,511 range in near term with neutral bias.

Bulls Vs. Bears: Time to Pick a Side!!

Volatility likely to be the hallmark of today's trade.

Preferred trade on Nifty: Nifty (10251): Sell at CMP, targeting 10101

zone and then aggressive targets at 9750-9951 zone with stop at 10487.

Preferred trade on Bank Nifty (24959): Sell between 24951-25101

zone, targeting 24201 zone and then aggressive targets at 23601 zone

with stop at 25651.

Daily Chart of Nifty:

Page 8: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Enjoy Your Comfort Zone.

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Comfort stock of the day

Stock Of The Day: (F & O)

When we want to see what's happening far off, we will reach for the binoculars. The binocular helps us to steer out of danger and also accurately spots our targets.

When it comes to trading / investing, that's exactly how Stock Of The Day: (F & O) introduces to the momentum stocks from the list of Future & Option segment, defining their support and resistance levels, and attempts to forecast their movement with a short /medium term perspective.

Stock Of The Day: (F & O)

Page 9: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

R2STOCKS LTP S1 S2 R1 TRADING STRATEGYBIAS

Enjoy Your Comfort Zone.

Invest Smart. Build Wealth. www.comfortsecurities.co.in

Stock Of The Day: (F & O)

AJANTA PHARMA enjoyed a strong session in yesterday's trade, up 3.99%. Key intraday support seen at 971. Interweek Strategy: Buy between 991-1003 zone, targeting 1061 and then at 1095-1111 zone. Stop below 971.

Oversold conditions prevail. Positive bias as long as 5149 support is held. Interweek Strategy: Buy between 5345-5365 zone, targeting 5601 and then at 5799-5819 zone with stop below 5121.

BHARAT FORGE is consolidating at lower levels on daily charts. Key intraday support seen at 541. Strength seen above 601. Interweek Strategy: Buy at CMP, targeting 585-589 zone and then at 601. Stop below 541.

HAVELLS is is seen rebounding from oversold zone on daily charts. Key intraday support seen at 606. Strength seen above 651. Interweek Strategy: Buy between 607-613 zone, targeting 645-651 zone. Stop below 599.

Momentum osillators attempting to shift on buy mode. Confirmation of strength above 977. Interweek Strategy: Buy between 941-951 zone, targeting 977 and then more aggressive targets located at 1011-1015 zone. Stop below 931.

Emerging Bulls in the Bear Market. `Bharat Forge preferred bet on buy side.

AJANTA PHARMA

BAJAJ FINSERVE

BHARAT FORGE

HAVELLS

PIDILITE

1016 971 945 1076 1111 Positive

5410 5261 5149 5601 5819 Positive

556.9 541 525 589 601 Positive

619.5 606 591 645 651 Positive

961.55 939 918 977 1015 Positive

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EQUITY DERIVATIVESLooking into the future from present.

Changes in Open Interest (OI) in yesterday’s trade.

Nifty Spot

Bank Nifty Future

VIX

Premium

Nifty Future OI

Bank Nifty Spot OI

BSE Cash Vol. (Rs. in Cr)

NSE Cash Vol.(Rs. in Cr)

NSE Derivative Vol. (Rs. in Cr)

Index Future Volumes

Stock Future Volumes

Index Option Volumes

Stock Option Volumes

Total

Cash Volumes (INR in Cr.)

YesterdayDay Before Yesterday

Derivatives Vol.(INR in Cr.)

No of contracts

Turnover (Rs. In cr.)

Major Changes in Nifty Options (OI)

Market Summary:

The benchmark Nifty enjoyed a strong session on the first trading day of the week,

up 2.20% at 10250.85. Value buying was the theme as stocks like Tata Steel, Tata

Power, ICICI Bank were trading with a positive bias. Most importantly, all the sectors

traded in green too.

Amongst Broader Indices, the BSE Midcap Index was up 2.80%. The BSE Smallcap

Index was up 2.06%. BSE Midcap Index outperformed the Sensex.

Amongst the sectoral indices, outperforming the Sensex/Nifty were BSE Healthcare

Index (up 4.21%), BSE Realty Index (up 3.77%), BSE Capital Goods Index (up

3.66%).

Amongst stock specific action, positive bias was seen in stocks like IBHSGFIN (up

12.49%), ICICI BANK (up 11.34%), SBIN (up 7.82%)

Among stocks drifting down were: INDUSIND BANK (down 2.48%), EICHERMOT

(down 1.77%), KOTAK BANK (down 1.61%)

Maximum Call Open Interest (OI) stands at 11000 Strike Price, followed by 10800

Strike Price for November Series. Short covering in calls was seen at strike prices

9800-10550 for November series.

Maximum Put Open Interest (OI) was seen at strike price 10000 followed by 9500

strike price for November series. Short built up in Puts was seen at strike prices

9400-10300 for November series.

As per Monday’s Provisional Data available on the NSE, FII’s sold shares worth Rs.

2230.79 crores in the Indian Equity Market. DIIs on the other hand bought shares

worth Rs. 2526.90 crores in the Indian Equity market.

Highest OI Nifty: Calls 11000: 21.71 L - Puts 10000: 38.80

Highest OI Bank Nifty: Calls 26500: 3.64 L - Puts 26500: 6.13 L

Change in Stock Open Interest (OI) in previous day’s trade.

Long Buildup: TATA POWER, ICICI BANK, TATA STEEL, NALCO, GRANULES.

Short Buildup: BHARAT FIN, JET AIRWAYS, EQUITAS, HDFC BANK, EICHER.

Short Covering: UNION BANK, BANK OF BARODA, CESC, SBIN, JAIN

IRRIGATION.

Long Unwinding: MCX, KPIT, GODREJCP.

Stocks banned in F&O segment for today: ADANI POWER.

New In Ban: NIL.

Out of Ban: NIL.

Future Call: BUY NATIONAL ALUMINIUM (NALCO) NOVEMBER

FUTURES between 67.75-68.45 zone. Targets at 72 and then at 76.

Stop: 66.30. Holding Period: Intraday. Analyst’s Remark:

Momentum Play (Nalco November Futures CMP 69.60).

Option Call: BUY TATA STEEL NOVEMBER CE strike price 610 at

CMP 10.35. Profit: Unlimited. Maximum Loss: Rs. 10,981.35. Stop:

Exit Call option if Tata Steel moves below 562. (Tata Steel

November Futures CMP 575.70).

10250.85 (+2.20%)

24959.70 (+2.21%)

19.8250 (+3.08%)

+29 vs +14

2.31 crores (+4.21%)

17.95 lakhs (+1.73%)

3766.1 3048.61

34041.78 31842.73

607611 507174

407665 25445

1047381 58014

8863355 482570

688806 41582

11007207 607611

Calls in lakhs (% Change)

10500 18.02 (-11%)

10400 13.22 (+14%)

10300 12.04 (+7%)

Puts in lakhs (% Change)

10000 38.8 (+14%)

10100 14.96 (+32%)

9800 23.46 (+11%)

Tuesday30th October, 2018

Page 11: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

www.comfortsecurities.co.in

DAILY PIVOT TABLE

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Instrument Close S1 S2 R1 R2 200 Day SMA Reversal Point Trend

All level indicated above are based on cash market prices.

Pivot Point

PP : Pivot Point : This is trigger point for weekly buy/sell based on the price range of the previous week.R1 : Resistance one : 1st Resistance over PP. R2 : Resistance two : 2nd Resistance over R1.S1 : Support one : 1st support after PP. S2 : Support Two : 2nd support after S1.

As per the tool, the trader should take BUY position just above PP and keep the stop loss of PP and the first target would be R1.If R1 is crossed then R2 becomes the next target with the stop loss at R1.

Similarly if price goes below PP the trader should SELL and keep the PP as Stop loss and the first target would be S1.

If S1 is crossed then S2 becomes the next target with the stop loss at S1.This is a trading tool. The key to use of this tool is the use of STOP LOSS.

Tuesday30th October, 2018

NIFTY 10250.85 10089.03 9927.22 10343.98 10437.12 10182.17 10769.66 DOWN

BANKNIFTY 24959.7 24568.25 24176.8 25187.45 25415.2 24796 26068.63 DOWN

NIFTYMID50 4614.45 4495.85 4377.25 4676.9 4739.35 4558.3 5063.69 DOWN

ACC 1350.4 1337.95 1325.5 1363.15 1375.9 1350.7 1520.21 DOWN

ADANIENT 171.75 167 162.25 174.55 177.35 169.8 131.18 UP

ADANIPORTS 326.4 310.28 294.17 335.23 344.07 319.12 380.46 DOWN

AJANTPHARM 1016.3 985.5 954.7 1033.65 1051 1002.85 1206.67 DOWN

ALBK 40.65 37.92 35.18 42.17 43.68 39.43 47.12 DOWN

AMARAJABAT 764.25 754.3 744.35 775.1 785.95 765.15 804.1 DOWN

ANDHRABANK 26.55 25.6 24.65 27.15 27.75 26.2 37.83 DOWN

APOLLOTYRE 214.95 207.93 200.92 218.98 223.02 211.97 263.14 DOWN

ARVIND 334.2 326.63 319.07 338.63 343.07 331.07 397.6 DOWN

ASHOKLEY 115.25 112.67 110.08 116.77 118.28 114.18 133.99 DOWN

ASIANPAINT 1196.05 1183.8 1171.55 1211 1225.95 1198.75 1247.96 DOWN

AUROPHARMA 773.05 736.65 700.25 793.15 813.25 756.75 636.34 UP

AXISBANK 566.7 544.5 522.3 582.95 599.2 560.75 556.7 UP

BAJAJ-AUTO 2549.1 2496.12 2443.13 2580.22 2611.33 2527.23 2869.47 DOWN

BAJAJFINSV 5409.85 5345.02 5280.18 5482.87 5555.88 5418.03 5762.88 DOWN

BAJFINANCE 2380.45 2332.97 2285.48 2409.97 2439.48 2362.48 2136.64 UP

BALKRISIND 1065.55 1039.2 1012.85 1084.7 1103.85 1058.35 1153.82 DOWN

BALRAMCHIN 107.9 101.87 95.83 111.57 115.23 105.53 84.47 UP

BANKBARODA 107.1 100.97 94.83 110.47 113.83 104.33 136.35 DOWN

BANKINDIA 81.1 76.28 71.47 83.93 86.77 79.12 104.67 DOWN

BATAINDIA 935.4 911.27 887.13 951.27 967.13 927.13 828.31 UP

BEL 86.4 84.63 82.87 89.58 92.77 87.82 124.61 DOWN

BEML 561.15 533.53 505.92 578.28 595.42 550.67 979.31 DOWN

BERGEPAINT 285.4 282 278.6 289.35 293.3 285.95 281.33 UP

BHARATFIN 860.25 842.73 825.22 878.88 897.52 861.37 1106.84 DOWN

BHARATFORG 556.9 549.27 541.63 561.77 566.63 554.13 675.69 DOWN

BHARTIARTL 294.1 288.22 282.33 301.77 309.43 295.88 387.53 DOWN

BHEL 67.95 66.85 65.75 68.75 69.55 67.65 81.4 DOWN

BIOCON 622.3 601.77 581.23 633.62 644.93 613.08 615.19 UP

BPCL 277.35 271.57 265.78 282.07 286.78 276.28 399.25 DOWN

BRITANNIA 5398.25 5317.6 5236.95 5463.95 5529.65 5383.3 5590.98 DOWN

CANBK 238.2 220.2 202.2 248.1 258 230.1 271.47 DOWN

CANFINHOME 267.6 252.72 237.83 277.57 287.53 262.68 385.42 DOWN

CAPF 465.45 451.42 437.38 473.27 481.08 459.23 602.53 DOWN

CASTROLIND 146.65 144.27 141.88 148.02 149.38 145.63 175.11 DOWN

CEATLTD 1134.5 1098.55 1062.6 1157.4 1180.3 1121.45 1445.98 DOWN

CENTURYTEX 804.7 774.03 743.37 828.33 851.97 797.67 1045.12 DOWN

CESC 864 831.77 799.53 895.57 927.13 863.33 979.18 DOWN

CGPOWER 35.9 35.07 34.23 36.47 37.03 35.63 68.42 DOWN

CHENNPETRO 262.9 256.4 249.9 268.35 273.8 261.85 321.25 DOWN

CHOLAFIN 1268.5 1216.72 1164.93 1297.57 1326.63 1245.78 1439.78 DOWN

CIPLA 635.15 611.67 588.18 648.42 661.68 624.93 604.3 UP

COALINDIA 287.4 280.1 272.8 291.95 296.5 284.65 282.14 UP

COLPAL 1102.05 1076.62 1051.18 1133.22 1164.38 1107.78 1125.57 DOWN

CUMMINSIND 676.4 670.45 664.5 682.55 688.7 676.6 741.61 DOWN

DABUR 409.4 400.7 392 417.4 425.4 408.7 382.21 UP

DALMIABHA 2069.95 2023.77 1977.58 2149.37 2228.78 2103.18 2648.23 DOWN

DCBBANK 160.65 155.18 149.72 163.78 166.92 158.32 172.64 DOWN

DHFL 185.2 180.53 175.87 189.63 194.07 184.97 553.75 DOWN

DISHTV 43.3 40.75 38.2 44.8 46.3 42.25 69.66 DOWN

DIVISLAB 1440.15 1359.12 1278.08 1486.92 1533.68 1405.88 1143.25 UP

DLF 164.45 155.9 147.35 169.7 174.95 161.15 205.55 DOWN

DRREDDY 2532.95 2462.23 2391.52 2581.33 2629.72 2510.62 2254.05 UP

EICHERMOT 21461.9 21139.93 20817.97 21933.93 22405.97 21611.97 28031.14 DOWN

ENGINERSIN 116.1 112.9 109.7 118.05 120 114.85 143.72 DOWN

EQUITAS 96.6 91.33 86.07 102.23 107.87 96.97 145.4 DOWN

ESCORTS 591.45 575.27 559.08 600.97 610.48 584.78 843.52 DOWN

EXIDEIND 253.75 250.75 247.75 256 258.25 253 248.61 UP

FEDERALBNK 81.2 79.32 77.43 82.27 83.33 80.38 88.33 DOWN

FORTIS 130.35 128.47 126.58 132.07 133.78 130.18 143.92 DOWN

GAIL 352.1 343.27 334.43 357.37 362.63 348.53 349.87 UP

GLENMARK 604.45 593.67 582.88 611.12 617.78 600.33 581.79 UP

GMRINFRA 16.15 15.62 15.08 16.47 16.78 15.93 18.34 DOWN

GODREJCP 717.35 701.3 685.25 727.2 737.05 711.15 797.77 DOWN

GODREJIND 459.95 451.88 443.82 465.73 471.52 457.67 576.51 DOWN

GRANULES 99.85 93.97 88.08 103.12 106.38 97.23 104.5 DOWN

GRASIM 782.45 767.93 753.42 792.73 803.02 778.22 1052.12 DOWN

GSFC 99.4 95.27 91.13 101.77 104.13 97.63 119.3 DOWN

HAVELLS 619.5 605.73 591.97 627.63 635.77 613.87 569.87 UP

HCLTECH 985.65 962.28 938.92 1000.48 1015.32 977.12 974.95 UP

HDFC 1698.4 1664.3 1630.2 1721.25 1744.1 1687.15 1856.78 DOWN

HDFCBANK 1926.3 1892.68 1859.07 1962.43 1998.57 1928.82 1995.22 DOWN

HDIL 19.35 18.85 18.35 19.65 19.95 19.15 33.77 DOWN

HEROMOTOCO 2749.85 2715.57 2681.28 2776.57 2803.28 2742.28 3440.11 DOWN

HEXAWARE 313.05 306.05 299.05 322.3 331.55 315.3 416.25 DOWN

HINDALCO 224.15 218.93 213.72 227.58 231.02 222.37 233.49 DOWN

HINDPETRO 230.5 222.83 215.17 235.53 240.57 227.87 309.03 DOWN

HINDUNILVR 1552.9 1530.12 1507.33 1567.57 1582.23 1544.78 1527.08 UP

HINDZINC 284.65 280.02 275.38 287.42 290.18 282.78 297.21 DOWN

IBREALEST 72.45 70.67 68.88 73.82 75.18 72.03 172.35 DOWN

IBULHSGFIN 771.55 717.3 663.05 803.6 835.65 749.35 1199.39 DOWN

ICICIBANK 349.4 334.15 318.9 358.8 368.2 343.55 305.25 UP

ICICIPRULI 333.2 326.53 319.87 336.93 340.67 330.27 390.66 DOWN

ICIL 67.4 65.63 63.87 68.83 70.27 67.07 85.11 DOWN

IDBI 59.6 59.03 58.47 60.18 60.77 59.62 62.95 DOWN

IDFC 35.95 35 34.05 36.55 37.15 35.6 49.92 DOWN

IDFCBANK 34.25 33.3 32.35 34.85 35.45 33.9 45.48 DOWN

IFCI 13.4 12.77 12.13 13.77 14.13 13.13 18.94 DOWN

IGL 250.8 248.37 245.93 253.87 256.93 251.43 279.65 DOWN

INDIACEM 85.5 82.33 79.17 87.98 90.47 84.82 131.44 DOWN

INDIANB 241.4 225.73 210.07 251.73 262.07 236.07 319.98 DOWN

INDIGO 884.4 861.95 839.5 898.9 913.4 876.45 1138.89 DOWN

INDUSINDBK 1412.8 1376.87 1340.93 1446.87 1480.93 1410.93 1816.12 DOWN

INFIBEAM 28.95 27.47 25.98 30.47 31.98 28.98 158.32 DOWN

INFRATEL 264.65 262.55 260.45 266.75 268.85 264.65 309.4 DOWN

INFY 644.75 633.98 623.22 653.03 661.32 642.27 628.66 UP

IOC 141.45 137.55 133.65 143.6 145.75 139.7 167.96 DOWN

IRB 125.4 121.07 116.73 128.32 131.23 123.98 211.61 DOWN

ITC 283.5 279.88 276.27 286.18 288.87 282.57 278.84 UP

JETAIRWAYS 214.2 205.17 196.13 219.87 225.53 210.83 472.47 DOWN

JINDALSTEL 169.55 163.73 157.92 173.03 176.52 167.22 227.96 DOWN

JISLJALEQS 70.2 67.97 65.73 71.67 73.13 69.43 98.58 DOWN

JPASSOCIAT 6.1 5.85 5.6 6.25 6.4 6 15.55 DOWN

JSWENERGY 65.8 63.58 61.37 67.83 69.87 65.62 73.76 DOWN

JSWSTEEL 340 332.38 324.77 344.43 348.87 336.82 327.89 UP

JUBLFOOD 1093.45 1058.7 1023.95 1116.6 1139.75 1081.85 1243.33 DOWN

JUSTDIAL 455.8 439.33 422.87 466.53 477.27 450.07 508.11 DOWN

KOTAKBANK 1138.1 1106.73 1075.37 1161.18 1184.27 1129.82 1196.9 DOWN

KPIT 217.65 214.33 211.02 221.73 225.82 218.42 249.87 DOWN

KSCL 474.85 462.23 449.62 483.83 492.82 471.22 537.83 DOWN

KTKBANK 98.4 96 93.6 99.85 101.3 97.45 120.75 DOWN

L&TFH 122.4 118.22 114.03 124.72 127.03 120.53 162.11 DOWN

LICHSGFIN 417.1 403.12 389.13 426.02 434.93 412.03 506.91 DOWN

LT 1261.3 1218.2 1175.1 1284.45 1307.6 1241.35 1318.27 DOWN

LUPIN 888.35 862.62 836.88 904.47 920.58 878.73 841.87 UP

M&M 749.5 734.05 718.6 758.9 768.3 743.45 839.09 DOWN

M&MFIN 399.45 389.95 380.45 405.1 410.75 395.6 462.54 DOWN

MANAPPURAM 75.3 72.98 70.67 76.63 77.97 74.32 104.02 DOWN

MARICO 303.45 298.88 294.32 306.78 310.12 302.22 328.46 DOWN

MARUTI 6798.7 6723.17 6647.63 6842.12 6885.53 6766.58 8776.92 DOWN

MCDOWELL-N 536.85 520.93 505.02 546.23 555.62 530.32 631.75 DOWN

MCX 718.3 701.13 683.97 735.73 753.17 718.57 784.01 DOWN

MGL 819.45 811.4 803.35 825.1 830.75 817.05 904.43 DOWN

MOTHERSUMI 228.5 222.42 216.33 232.27 236.03 226.18 313.52 DOWN

MRF 63932.25 62854.84 61777.42 64679.84 65427.42 63602.42 72522.27 DOWN

MRPL 82.95 80.82 78.68 84.42 85.88 82.28 97.54 DOWN

MUTHOOTFIN 403.3 394.23 385.17 410.18 417.07 401.12 411.07 DOWN

NATIONALUM 68.85 67.2 65.55 70 71.15 68.35 70.14 DOWN

NBCC 52.75 51.6 50.45 53.55 54.35 52.4 86.72 DOWN

NCC 72.8 67.53 62.27 75.58 78.37 70.32 107.29 DOWN

NMDC 109.7 107.27 104.83 111.22 112.73 108.78 118.47 DOWN

NTPC 158.95 157.52 156.08 160.17 161.38 158.73 164.97 DOWN

OFSS 3537.4 3489.98 3442.57 3572.43 3607.47 3525.02 3999.93 DOWN

OIL 201.05 197.38 193.72 203.93 206.82 200.27 220.62 DOWN

ONGC 154.9 151.75 148.6 156.9 158.9 153.75 175.52 DOWN

ORIENTBANK 74.6 68.18 61.77 78.13 81.67 71.72 86.66 DOWN

PCJEWELLER 50.7 49.03 47.37 51.88 53.07 50.22 215.34 DOWN

PEL 2029.5 1940.03 1850.57 2083.98 2138.47 1994.52 2574.98 DOWN

PETRONET 219.45 217.3 215.15 220.8 222.15 218.65 228.42 DOWN

PFC 91.7 85.87 80.03 94.97 98.23 89.13 88.46 UP

PIDILITIND 961.55 934.57 907.58 976.97 992.38 949.98 1021.52 DOWN

PNB 70.9 67.07 63.23 73.27 75.63 69.43 97.08 DOWN

POWERGRID 189.55 187.8 186.05 190.9 192.25 189.15 195.14 DOWN

PTC 78.5 75.78 73.07 80.28 82.07 77.57 87.53 DOWN

PVR 1317.4 1293.78 1270.17 1334.68 1351.97 1311.07 1329.8 DOWN

RAMCOCEM 564.95 558.7 552.45 574.6 584.25 568.35 722.47 DOWN

RAYMOND 745.35 700.73 656.12 777.48 809.62 732.87 913.12 DOWN

RBLBANK 516.85 498.77 480.68 526.72 536.58 508.63 528.8 DOWN

RCOM 10.9 9.98 9.07 11.43 11.97 10.52 18.92 DOWN

RECLTD 112.9 107.87 102.83 116.12 119.33 111.08 121.32 DOWN

RELCAPITAL 235.35 226 216.65 241.1 246.85 231.75 414.92 DOWN

RELIANCE 1087.8 1057.92 1028.03 1105.77 1123.73 1075.88 1028.36 UP

RELINFRA 351.05 335.58 320.12 359.98 368.92 344.52 423.68 DOWN

REPCOHOME 341 326.5 312 350.4 359.8 335.9 561.7 DOWN

RPOWER 29.55 27.67 25.78 30.92 32.28 29.03 36.66 DOWN

SAIL 64.95 63.47 61.98 66.02 67.08 64.53 78.27 DOWN

SBIN 267.9 254.45 241 275.3 282.7 261.85 272.33 DOWN

SHREECEM 13511.05 13386.32 13261.58 13718.32 13925.58 13593.58 16820.67 DOWN

SIEMENS 888.4 866.4 844.4 901.2 914 879.2 1062.32 DOWN

SOUTHBANK 14 13.38 12.77 14.38 14.77 13.77 22.66 DOWN

SREINFRA 30.2 28.53 26.87 31.28 32.37 29.62 68.43 DOWN

SRF 1854.9 1802.17 1749.43 1887.37 1919.83 1834.63 1897.99 DOWN

SRTRANSFIN 1083.9 1043.77 1003.63 1109.77 1135.63 1069.63 1358.7 DOWN

STAR 421.05 406.03 391.02 429.63 438.22 414.62 538.12 DOWN

SUNPHARMA 573.6 559.5 545.4 582.65 591.7 568.55 558.25 UP

SUNTV 649.35 620.35 591.35 666.1 682.85 637.1 843.72 DOWN

SUZLON 6.3 6.03 5.77 6.48 6.67 6.22 9.58 DOWN

SYNDIBANK 33.5 31.75 30 34.45 35.4 32.7 49.86 DOWN

TATACHEM 685.2 672.35 659.5 693.35 701.5 680.5 711.83 DOWN

TATACOMM 466.2 448 429.8 476.5 486.8 458.3 590.76 DOWN

TATAELXSI 990.15 968.93 947.72 1002.93 1015.72 981.72 1184.18 DOWN

TATAGLOBAL 220 217.52 215.03 221.97 223.93 219.48 261.04 DOWN

TATAMOTORS 175.35 169.87 164.38 178.67 181.98 173.18 304.56 DOWN

TATAMTRDVR 95.95 92 88.05 98.4 100.85 94.45 172.12 DOWN

TATAPOWER 77.6 68.6 59.6 86.35 95.1 77.35 78.73 DOWN

TATASTEEL 573.7 558.83 543.97 582.03 590.37 567.17 602.83 DOWN

TCS 1871 1810.92 1750.83 1904.52 1938.03 1844.43 1763.86 UP

TECHM 664.25 649.15 634.05 674.2 684.15 659.1 662.06 UP

TITAN 829.75 813.45 797.15 840.25 850.75 823.95 877.7 DOWN

TV18BRDCST 37.8 36.8 35.8 38.4 39 37.4 53.56 DOWN

TVSMOTOR 554.05 532.63 511.22 566.93 579.82 545.52 604.85 DOWN

UBL 1155.1 1118.63 1082.17 1177.68 1200.27 1141.22 1160.93 DOWN

UJJIVAN 189 178.82 168.63 196.37 203.73 186.18 359.45 DOWN

ULTRACEMCO 3441.7 3384.7 3327.7 3477 3512.3 3420 4020.94 DOWN

UNIONBANK 69.7 64.5 59.3 72.55 75.4 67.35 93.68 DOWN

UPL 631.6 618.37 605.13 639.77 647.93 626.53 690.9 DOWN

VGUARD 178.35 175.07 171.78 180.57 182.78 177.28 215.03 DOWN

VOLTAS 522.1 503.98 485.87 533.73 545.37 515.62 581.63 DOWN

WIPRO 329.5 320.03 310.57 335.58 341.67 326.12 290.69 UP

WOCKPHARMA 496.8 461.53 426.27 517.53 538.27 482.27 694.47 DOWN

YESBANK 181.3 175.4 169.5 186.55 191.8 180.65 324.9 DOWN

ZEEL 431.3 423.87 416.43 436.07 440.83 428.63 541.33 DOWN

Page 12: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Enjoy Your Comfort Zone.

Invest Smart. Build Wealth.

Comfort ‘Forecast and Analysis’

Forecast and Analysis is a daily newsletter that provides technical update on all the major instruments of the world like Gold, Silver, Crude Oil, US Dollar Index and USD/INR. We define their support and resistance levels and attempt to forecast their movement with a short / medium term perspective. Also in the report, a trader will find bias for the mentioned instruments.

This newsletter is also quite popular with a market participant who loves to have insight & theme on MCX Gold, MCX Silver as well MCX Crude-Oil.

Forecast and Analysis

Page 13: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Instrument TRADING STRATEGYLTP S1 S2 R1 R2 Bias

www.comfortsecurities.co.in

MCX GOLD

MCX SILVER

MCX CRUDE OIL

MCX COPPER

MCX NATURAL GAS

USD-INR

Forecast and Analysis …Direction at a glance

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Gold price traded rangebound in yesterday's trade. Key medium term suppport seen at 31201 mark. Interweek strategy: Establish long positions between 31251-31501 zone, targeting 32451 mark and then aggressive targets at 32851-32901 with stop at 31101.

Silver prices traded listless in Friday's trade. Interweek strategy: Establish long positions between 38455-38501 zone, targeting 39651 mark and then aggressive targets at 39901-40000 zone with stop at 38251.

Crude-oil prices inched up in yesterday's trade. Confirmation of strength only above 5051. Interweek strategy: Establish long positions at CMP, targeting 5051 zone and then aggressive targets at 5369 with stop at 4721.

Copper prices were seen trading rangebound in yesterday's trade with slight negative bias. Interweek strategy: Establish long positions only above 457, targeting 465 mark and then at 479 with stop at 433.

Natural Gas prices itraded subdued in yesterday's trading action. Interweek strategy: Establish long positions only on any sharp declines between 221-225 zone, targeting 241 and then aggressive targets at 249-251 zone with stop at 213.

Key support now at 71.75. Intermonth strategy: Buy between 72-72.50 zone, targeting 75 and then aggressive targets at 77 with strict stop below 71.45.

31863 31501 31201 32451 32901 Neutral

38299 37751 37201 39650 40001 Neutral

4956 4775 4501 5051 5389 Positive

445 443 425 457 479 Neutral

234.00 227.45 215.00 245.00 251.00 Positive

73.44 71.75 70.00 75.00 77.00 Positive

Crude-Oil prices firm amidst worries about global supply levels and conflicting comments from Saudi Arabia’s energy minister.

Page 14: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Instrument TRADING STRATEGYLTP S1 S2 R1 R2

www.comfortsecurities.co.in

GOLD $

SILVER ($)

WTI CRUDE OIL ($ )

EUR/USD

Forecast and Analysis …Sailing global trend

Bias

DOW JONES

US Dollar Index

Enjoy Your Comfort Zone.

Invest Smart. Build Wealth.

Wall Streed gains despite China doubts resurfacing. Hurdles for Dow at 27200.

Gold prices were seen slipping in yesterday's trade. Hurdles now seen at 1245. Confirmation of major strength only above 1245. Interweek Strategy: Sell at CMP, targeting 1207 and then at 1189-1191 zone with stop above 1247.

Silver prices too slipped in yesterday's trade tracking weakness in yellow metal. Hurdles now seen at 15.45. Confirmation of major strength only above 15.45.

Crude-oil prices were seen trading flat in yesterday's trade. Inerweek strategy: Establish long positions at CMP, targeting 70.50 zone and then 72.50-75 zone with stop at 62.50.

We have a negative bias on EUR/USD. Major weakness seen only below 1.1351. Selling on strength should be preferred strategy.

We have positive bias for US Dollar Index. Hurdles at 97.50. Aggressive upside targets seen at 99. Downside well supported at 92.50. Major weakness now only below 92.50.

Wall Street was seen attempting a rebound on Monday, as investors attempt a bounce back from the previous week’s steep losses, ahead of another heavy week of quarterly corporate results. Dow faces major hurdles at 27200.

1229 1207 1189 1245 1261 Neutral

14.47 14.21 13.75 15.45 16.09 Neutral

67.17 65 62.5 70.5 75 Neutral

1.1377 1.1351 1.1100 1.1745 1.1900 Negative

96.67 94.45 92.50 97.50 99.00 Positive

24813 24445 23751 26001 27200 Neutral

Page 15: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

www.comfortsecurities.co.in

DAILY PIVOT TABLE

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Invest Smart. Build Wealth.

CommodityExchange Close S1 S2 R1 R2200 Day

SMA Reversal

Point Trend

MCX ALUMINUM

MCX CARDAMOM

NCDEX CASTOR

NCDEX CHANA

MCX COPPER

MCX COTTON

MCX CRUDE-OIL

MCX GOLD

NCDEX GAUR GUM

NCDEX GAUR SEED

NCDEX JEERA

MCX LEAD

MCX MENTHA OIL

MCX NATURAL GAS

MCX NICKLE

NCDEX RM SEED

MCX SILVER

NCDEX SUGAR

NCDEX SOYA BEAN

MCX ZINC

145.25 144 142.75 146.1 146.95 145.93 149.35 DOWN

1419 1422 1421.5 1423 1423.5 1120.26 1406.75 DOWN

5486 5451.33 5416.67 5529.33 5572.67 4323.41 5304 UP

3952 3928.33 3904.67 3987.33 4022.67 3831.7 4132 UP

444.7 441.73 438.77 446.58 448.47 445.78 460.95 DOWN

23140 23073.33 23006.67 23233.33 23326.67 21663.35 22630 DOWN

4932 4886 4821 4998 5045 4597.71 5198 UP

31942 31821 31705 32133 32329 30614.58 31568 DOWN

10315 10213.33 10111.67 10463.33 10611.67 8954.04 9760 UP

4713.5 4678.5 4643.5 4765 4816.5 4164.85 4522 UP

19570 19400 19230 19770 19970 17484.67 19475 UP

143.35 141 139 146.13 146.97 155.57 143.1 UP

1780.1 1770.17 1760.23 1795.77 1811.43 1471.78 1724.7 UP

233.7 229.43 225.17 236.13 238.57 195.91 227.2 UP

864.2 853.8 843.4 882.3 900.4 926.92 921.5 UP

4196 4170 4144 4226 4256 4039.52 4118 DOWN

38631 38520 38328 38955 39198 38757.55 38153 UP

3050 3050 3050 3050 3050 3614.83 3015 UP

3270 3242.67 3215.33 3306.67 3343.33 3511.6 3139 UP

196.75 194 191 199.7 200.95 200.9 192.1 UP

Tuesday30th October, 2018

Page 16: Comfort Securities Limited Daily Research Reports (Daily-Report… · Outlook for Tuesday: Volatile session likely. Negative start. Volatility likely to be hallmark of today's trade

Comfort Securities Ltd.

DISCLAIMER: This is solely for information of clients of Comfort Securities Ltd. and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Comfort Securities Ltd. its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Comfort Securities Ltd. or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information.

Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Comfort Securities Ltd. in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Comfort Securities Ltd. has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Comfort Securities Ltd. makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment.

POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report)Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.

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