Equity Research Report Ways2Capital 18 April 2016

8/18/2019 Equity Research Report Ways2Capital 18 April 2016

1/20


2/20

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : The Market started off week on a flat-to-positive note. The Nifty

advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of

market-moving economic data due this week. The US market ended marginally higher on

Friday amid rebound in crued oil prices. Investor sentiment was hit by low expectations

from the earnings season that is set to kick start with IT giant Infosys on Friday. There is

very high probability that we may see choppy action going forward. At least for the next

few trading session. Domestic equity witnessed a Subdued start on Tuesday trading

session on mixed Asian Cues, On Wednesday The Nifty50 was trading at 7,799 up 90

point or 1.17 per cent. The Rally in market was largely led by surplus monsoon Forecast

by the whether department this year after two consecutive droughts. The Economic data

released too influenced the market sentiment factory output grew by 2 per cent and retail

inflation dropped to 4.83 per cent in march from 5.26 in last month. The crucial levels for

Nifty is 7880-8000 up side and 7800-7750 in down side.

BANK NIFTY : - The Bank Nifty Open positive on Monday at 15623 up by 55 points or

0.35 per cent. The Reserve Bank of India Governor Raghuram Rajan said the interest rate

are now significantly lower and will continue to be so. The Banks having retail focus are

expected post better financial results in the fourth quarter ended March 31. The Supreme

Court expressed concern over the “ substantial” bad debt burdening the country’s banks

and asked the Reserve Bank of india what it was doing as regulator to ensure that dues

were being recovered and not piling up. It also pushed the central bank to reveal the total

amount of such non performing assets, The Bank Nifty closed in a positive note last week

and we are expecting if it is able to sustain the level of 16300 we may witness the forward

movement. The Strong Support for Bank Nifty is 16150-15900 and Resistance is 16500-

16460.

Monday, 18 April 2016


3/20

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8105 7921 7829 7737 7553

WEEKLY R2 R1 PP S1 S2

8787 8091 7743 7395 6699

MONTHLY R2 R1 PP S1 S2

8789 8093 7745 7397 7003

BANK NIFTY

DAILY R2 R1 PP S1 S2

17043 16505 16236 15967 15429

WEEKLY R2 R1 PP S1 S2

18746 16930 16022 15114 13298

MONTHLY R2 R1 PP S1 S2

18746 16930 16022 15114 13298

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 7623 7420 7576 7890

BANK NIFTY 15710 15081 15799 16830

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7784 6986 7901

BANK NIFTY 16260 13590 18056


4/20

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the Above given chart of Nifty has applied the MACD along with Resistance Level

these are the trend identifying pattern and made the Resistance level in the Nifty daily

chart that made on the above given chart we have draw the Trend line for more than theweek period and it is not able to break the up level. However in upcoming trading session

it could break the upper level of channel line which is the strong Resistance for the

Nifty50 around 7880. Now we are expecting that if the Nifty is able to sustain the 7800

level we may witness the Bull trend of Nifty on the other hand if Nifty rebound the 7880-

7950 level again we may see the positive rally in the index. The Strong Support for Nifty

50 is and the Resistance is 7800-7760.


5/20

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given chart of Bank Nifty has applied the MACD along with Resistance

Level these are the trend identifying pattern and made the Resistance level in the Bank

Nifty daily chart that made on the above given chart we have draw the Channel line for

more than the week period and it can able to reach the up level. However in upcoming

trading session it could break the upper level of channel line which is the strong

Resistance for the Bank Nifty around 16380-16450 . Now we are expecting that if the

Nifty is able to sustain the 16300 level we may witness the Bull trend of Bank Nifty on

the other hand if Nifty rebound the 16350-16380 level again we may see the positive rally

in the index. The Strong Support for Bank Nifty 50 is 15900-15880 and the Resistance is

16390-16450.


6/20

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1489 1479 1464 1454 1439

ALBK EQ 58 57 56 55 54

AMBUJACEM EQ 236 233 230 227 224

ASIAN PAINT EQ 882 878 872 868 862

AXISBANK EQ 448 444 441 437 434

BAJAJ-AUTO EQ 2693 2632 2552 2491 2411

BANKBARODA EQ 155 154 152 151 149

BANKINDIA EQ 98 97 95 94 92

BHEL EQ 139 136 132 129 125

BHARTIARTL EQ 370 360 355 345 340

CIPLA EQ 521 516 510 505 499

COALINDIA EQ 280 278 277 275 274

DLF EQ 124 123 121 120 118

DRREDDY EQ 3141 3122 3104 3085 3067

GAIL EQ 377 372 366 361 355

GRASIM EQ 4163 4121 4076 4034 3989

HCLTECH EQ 850 843 839 832 828

HDFC EQ 1132 1124 1108 1100 1084

HDFCBANK EQ 1093 1087 1078 1072 1063

HEROMOTOCO EQ 3260 3211 3124 3075 2988

HINDALCO EQ 100 98 96 93 91

HINDUNILVR EQ 915 906 889 880 863

ICICIBANK EQ 250 245 239 234 228

ITC EQ 337 334 329 326 321

INDUSIND BANK EQ 1004 995 984 975 964

INFY EQ 1207 1191 1179 1163 1151JINDALSTEL EQ 72 70 68 66 64

KOTAKBANK EQ 707 698 691 682 675

LT EQ 1263 1248 1239 1224 1215

M&M EQ 1408 1370 1310 1272 1212

MRF EQ 37269 36840 36570 36141 35871

MARUTI EQ 3837 3791 3698 3652 3559

ONGC EQ 216 215 214 212 211

ORIENTBANK EQ 95 94 92 91 81

RCOM EQ 56 54 53 51 50

RELCAPITAL EQ 401 396 393 388 385

RELIANCE EQ 1079 1071 1062 1054 1045RELINFRA EQ 585 578 575 568 565

RPOWER EQ 53 53 52 51 49

SBIN EQ 195 193 192 190 189

SSLT( VEDL) EQ 97 95 94 92 91

SUNPHARMA EQ 842 836 830 824 818

TATAMOTORS EQ 419 414 406 401 393

TATAPOWER EQ 73 71 70 68 67

TATASTEEL EQ 341 337 331 327 331

UNIONBANK EQ 136 133 131 129 127


7/20

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS( AS PER ECHNICAL ANALYSIS PRIDICTION )

NSE CASH

NSE CASH : BUY DCBBANK ABOVE 86.50 TGT 112 SL 81.

NSE CASH : BUY HINDLCO ABOVE 98 TGT 125 SL 87.

NSE CASH : BUY BAJAJCORP ABOVE 410 TGT 450 SL 393.

NSE CASH : BUY CHENNPETRO ABOVE 210 TGT 224 SL 198.

NSE CASH : BUY ITD CEMENTATION ABOVE 126 TGT 138 SL 121.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 IPCA LAB 555 493-11.22 %

2 HINDUSTAN ZINC 186 165-11.14 %

3 JAYPEE INFRA 8.25 7.65-7.27 %

4 ALPHA LAB 37.85 35.15-7.13 %

5 RAJESH EXPORT 634 594-6.25 %

6 UBL 828 797-3.76 %

7 INFOSYS 1219 1172-3.68 %

8 BEML LIMITED 975 941-3.45 %

9 INDIAN BANK 102 99-2.93 %

10 UNITED SPIRITS 2448 2377-2.89 %

11 VIJAYA BANK 31.55 31.45 -0.32 %

12 IRB INFRA 223.95 223.33-0.29 %

13 SUN TV 359.70 358.90-0.22 %

14 KRUR VYSYA 472.50 472.10

-0.08 %

15 BHARAT FORGE 830.20 830.05 -0.02 %

SR.NO SCRIPT NAMEPREV

CLOSECMP % CHANGE

1BHEL 112 133 +18.43 %

2 HINDALCO INDUS. 84.90 96.30 +13.43 %

3TATA MOTORS LTD 370 408 +10.32 %

4 M&M 1215 1332 +9.60 %

5GAIL INDIA LTD 339 369 +8.84 %

6 NTPC 126 137 +8.12 %

7BAJAJ AUTO LTD 2394 2582 +7.84 %

8 ICICI BANK 225 240 +6.67 %

9TATA STEEL 312 332 +6.58 %

10 BHARTI AIRTEL 330 351 +6.28 %

11 HERO MOTOCORP 2963 3148 +6.23 %

12 LUPIN LIMITED 1463 1548 +5.82 %

13ACC 1390 1469 +5.69 %

14 BANK OF BARODA 144.35 152.45 +5.61 %

15WIPRO LTD. 559 584 +4.63 %


8/20

NSE FUTURE

NSE FUTURE : SELL CENTURYTEX FUTURE BELOW 612 TGT 598 SL 616

NSE FUTURE : SELL JETAIRWAYS FUTURE BELOW 622 TGT 612 SL 627

NSE FUTURE : SELL MCLEODRUSS FUTURE BELOW 195 TGT 190 SL 197

NSE FUTURE : BUY RECLTD FUTURE ABOVE 165 TGT 170 SL 163

NSE FUTURE : SELL SRTRANSFIN FUTURE BELOW 977.50 TGT 960 SL 684


9/20

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

PMO push: Commerce Ministry plans to set up dedicated team for trade talks - The

commerce department is considering setting up a specialised team to negotiate

international trade deals. The move follows a nudge from the Prime Minister's Office

amid concerns that India is not moving fast enough on its free-trade agreements and that

it could have got a better deal on some of the pacts. At a recent meeting with senior

officials from other ministries and departments, the PMO discussed the idea of building a

team comprising officers from foreign services and trade lawyers official said consensus

was reached in the issue in the meeting.

Govt may form panel to clear PSBs' bad loan mess - The Government is considering

forming a three-member committee to approve the bad loan settlement plans of public

sector banks. The move comes after the Centre's bid to clean up the bad-loan mess and

give PSBs a fresh start didn't elicit an enthusiastic response, according to source. Bankers

are not keen on a one-time loan settlement that involves taking a haircut, fearing

investigating agencies will come after them, Source. The panel will consist of an ex-

Supreme Court judge, a former chief vigilance commissioner and a retired official of the

Comptroller & Auditor General. Banks can approach the panel with settlement proposals

for approval and execute them without fearing action against them, a top governmentofficial told. The Non- Performing Assets of Public Sectors Banks more than doubled to

6.7 % at the End of Dec 2015 from 3.22 at the end of FY 13.

ASSOCHAM asks banks not to get swayed away by shrill in Mallya case -

Impressing upon the banks not to get swayed away by the shrill of public discourse

against the purported willful defaulters, apex industry body ASSOCHAM today said that

offer made by industrialist Vijaya Mallya should be considered carefully before rejecting

it, because his offer does convey his “intention” to repay the loans taken from the public

sector lenders. “With so much shrill on the wilful defaulters, the banks and their principal

shareholder, the Government of India, should take a dispassionate view of the case rather

than being influenced by the media reports which at times get exaggerated in the ‘ right-

or-wrong ’ debate,” ASSOCHAM Secretary General D S Rawat said in a statement. He

said, the main concerns for the banks ‘ consortium should be recovery of its assets which

have become NPAs and all genuine efforts must be made towards that end.


10/20

India Inc set to post best EBIDTA growth in six quarters: CRISIL Research -

CRISIL Research, India’s largest Independent and Integrated research house, expects

India Inc to report EBITDA growth of ~7% for the quarter ended March 31, 2016. That

will mark the fastest growth in six quarters, driven by higher gross margins derived from

lower commodity prices. Revenue growth would, however, remain lacklustre at ~2%

because of low commodity prices, weak investment demand, patchy demand recovery

and low pricing power because of competition.The analysis is based on 600 companies

that account for ~70% of the market capitalisation of the National Stock Exchange.

Government ability to prioritize the Reforms like GST will aid economic Recovery :

Arun Jaitley - India stands amid the most crucial phase of structural reforms since the

signifcant reforms undertaken 25 years ago. Economic revival is likely given that the

government is pressing ahead with its reform agenda, says Finance Minister Arun Jaitley

in an interview. The upcoming second half of the budget session of Parliament would see

the government magnifying emphasis on reforms such as goods and services tax

legislation, bankruptcy code, and amendments to the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act and prevention of corruption

law, he said. FM Jaitealy clarifies that GST should be done via consensus since its

implementation would entail everyone involvement including congress , Government as

per the Report.

IMD forecasts well-distributed rains, kindling hopes of economic revival - The

weather office has forecast surplus, well-distributed monsoon rainfall this year after two

consecutive droughts, cheering farmers and kindling hopes that the surge in rural demand

after the expected good harvest will propel economic growth. The promising outlook

from the country's most respected weather forecaster came along with encouraging data

showing that consumer inflation had fallen below 5% while industrial output had bounced

back after contracting for three months. This is expected to boost the demand Economic

and Business sentiments after a long phase of farm distress Distress and overall demandslump. The India Meteorological Department said the monsoon will deliver 6% surplus

rain in its fabled four-month journey from the Kerala coast to the lofty mountains in

Kashmir.

FM: Indian economy estimated to register 7.6% growth in FY 2015-16 - The Finance

Minister Arun Jaitley said that Indian economy is estimated to register 7.6% growth in

FY 2015-16, notwithstanding contraction of global exports and two consecutive years of

shortfall in monsoon. Jaitley said that amid weaker outlook across the globe, India’s


11/20

experience of strong economic growth, comfortable price situation, low current account

deficit, and adherence to fiscal recovery path have projected it as an outpost of

opportunity for global investors. The Finance Minister was speaking on the theme of

‘Steering India towards Growth ’, at an event organized by ‘Carnegie Endowment for

International Peace in Washington D.C. on the very first day of his US trip.

India plans to mobilize an investment of Rs. 1 lakh crore for ports: PM - Prime

Minister Narendra Modi has inaugurated the maiden Maritime India Summit in Mumbai,

asserting his government's resolve to restore India's position in global maritime sector.

"We Indians are inheritors of a glorious maritime heritage and world's first dock was built

at Lothal in Gujarat, during the Harappan civilization, Building upon our glorious

maritime tradition, we are working hard to achieve new heights in this area" he said.

Stressing on the importance of maritime transport, Prime Minister Narendra Modi said

that everyone should make sure that our lifestyle, transport systems and trading behaviour

do not spoil the ecology of the oceans. He also said, the architect of the Indian

Constitution Dr.Babasaheb Ambedkar, on whose 125th birth anniversary, the Maritime

India Summit was being inaugurated, was also the architect of the water and navigation

policy in India.

TOP ECONOMY NEWS

Bullish on India's growth prospects, International Finance Corporation has said offshorerupee bonds can provide a new source of funding for Indian companies and they stand to

benefit in the longer term from comparative pricing landscape.

Stepping up its energy ties with Iran, India has lined up $20 billion as investment in oil

and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject

to provision of concessional rights.

Government is looking at a scheme for encouraging its employees to invest part of their

7th Pay Commission salary hike in a fund which would be used for recapitalisation of

state-owned banks.

Telangana government has invited Chinese infrastructure company Gezhoba, which was

associated with the construction of the famous Three Gorges dam in its country, to take

part in the construction of the irrigation projects in the state.


12/20

Growth in developing East Asia and Pacific has remained resilient and is expected to

ease only modestly during 2016-18, according to a new World Bank report. This outlook

is subject to elevated risks and countries should continue to prioritize monetary and fiscal

policies that reduce vulnerabilities and strengthen credibility, while deepening structural

reforms.

Foreign direct investment in the country surged to $42 bn during April-February in 2015-

16, according to RBI data.

Fitch has maintained its GDP growth forecast for India for the fiscal year ending March

2016 at 7.5 per cent. Growth is expected to gradually accelerate to 7.7 per cent in FY17

and 7.9 per cent in FY18.

The Government will keep regulating cotton seed prices and will not allow companies

like the US biotechnology major Monsanto to exploit farmers.

The Income Tax department has activated the Aadhaar and net banking-based e-filing

verification system for taxpayers to file the first appeal before a tax officer, on similar

lines of online ITR filing.

R eserve Bank Governor Raghuram Rajan said the central bank holds around Rs.8 trillion

of government bonds with it.

With the share of states in central taxes seeing a quantum jump, Finance Minister Arun

Jaitley advised them to stick to fiscal discipline, spend on infrastructure and development

activities and to use Aadhaar for transferring benefits to people.

The government is making every effort to bring down the cost of production of urea and

exploring the option of setting up a plant in Iran using cheaper gas, Union Minister Nitin

Gadkari said.

CPI inflation eased to 4.83% in March from 5.2% in February.

Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy launched

the Discovery of Efficient Electricity Price e-Reverse Auction portal through which

distribution utilities can procure short-term power.


13/20

R etirement fund body EPFO settled 11.8 million claims in 2015-16, out of which 96%

claims were settled within 20 days.

The India Meteorological Department has projected an above normal monsoon for 2016,

spelling good news for farmers and policymakers battling two years of consecutive

drought.

Owing to the slowdown in China, low crude oil prices and overall sluggish trend in

advanced economies, the International Monetary Fund has cut its global growth forecast

at 3.2% in 2016. However, the Fund forecasts Indian economy to grow at the fastest pace

of 7.25% in 2016.

Moody's Investors Service says that lower remittances from Gulf Cooperation Council

economies, which have been hit hard by the slump in oil prices, will reduce the benefits

of cheaper oil imports for several Asia Pacific countries. Generally, weaker remittances

will immediately impact the recipient countries' credit profiles via their balance of

payment positions. A prolonged fall would also hurt economic growth, given the

importance of remittances to household incomes.

The Finance Minister Jaitley held a bilateral meeting with United States TradeRepresentative Ambassador Mr Michael Froman. The Finance Minister affirmed that the

sustained engagement and rapidly increasing trade and investment partnership between

India and the US are key elements of the bilateral engagement between the two countries

and India looks forward to strengthening and deepening this economic engagement. The

Finance Minister emphasized.

TOP CORPORATE NEWS -

Bajaj Auto and its Austrian partner KTM AG are extending their partnership to

Indonesia for selling Duke and RC brands of motorcycles of up to 400cc.

ITC Limited said it has adequate cigarette stocks available in the market despite shutting

all its manufacturing in the wake of the government rule that requires larger pictorial

warnings on packets.


14/20

Cairn India Ltd. has full indemnity from its former promoter Cairn Energy of UK

against levy of any tax for past deeds, including the two-year old Rs 204.95 billion

retrospective tax demand, its new owner Anil Agarwal has said.

Tata Power said its Singapore-based arm TPIPL has signed an agreement with KS Orka

Renewables Pte for sale of its 50 per cent stake in OTP Geothermal Pte for USD 30

million.

Sun Pharmaceutical Industries has received approval from the US health regulator for

its non-steroid drug BromSite used to treat inflammation and prevent pain in patients

undergoing contract Surgery.

Nokia has bagged a contract from Idea Cellular to roll out 4G in three circles and also to

expand the infrastructure for 3G and 2G networks.

Great Eastern Shipping Company Ltd has signed a contract to buy a Japan-built

second hand vessel, which will be delivered in the current quarter.

Orchid Pharma has received the Establishment Inspection Report from the US health

regulator based on the successful inspection closure for its API manufacturing facility in

Tamil Nadu Kancheepuram district.

The wind energy company arm of Suzlon Group has announced it has bagged a maiden

order of 105 MW from Greenko Group to be executed in Andhra Pradesh.

Gayatri Projects bags Rs. 3.40 billion road project in Nagaland.

L&T Hydrocarbon Engineering , a wholly-owned subsidiary of Larson and Toubro India

has bagged two orders worth USD 370 million from Petroleum Development Oman.

Jewellery exporter and retailer Rajesh Exports it has won a Rs.11.88 billion export order

from the United Arab Emirates.

NTPC Limited has supplied 100 MW of un-requisitioned surplus from its Dadri Stage-1

plant to Gujarat Urja Vitran Nigam.

Technology giant IBM has partnered Reliance Communications to provide a complete

portfolio of cloud services to customers.


15/20

Hero MotoCorp to begin production at Chittoor plant by Dec 2018.

Aditya Birla Nuvo said it has completed an additional 23% stake sale in its life insurance

firm Birla Sun Life Insurance Company to its Canadian joint venture partner Sun Life

Financial for Rs 16.64 billion.

Adani Enterprises has marked its entry into the wind energy segment by placing the

company first order for wind turbine generators with Inox Wind Ltd.

TTK Prestige Limited , through its wholly-owned subsidiary TTK British Holdings, has

acquired Silampos UK for an undisclosed sum.

Mahindra & Mahindra Farm Equipment Sector, launched new range of tractor Yuvo in

Madhya Pradesh.

Pharmaceutical major, Dr Reddy's Laboratories Limited, announced the schedule for

buyback of equity shares from public for about Rs. 15.69 billion beginning April 18,

2016.

Tata Steel, has signed an agreement to sell the loss-making 4.5 mt long-product

Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital for a

nominal consideration.

Hindustan Zinc Limited , a Vedanta group company, paid the government Rs. 29.95

billion as dividend on account of its 29.54% residual stake.

Two Japanese consortiums have bid for state-owned gas utility GAIL India Ltd's USD 7

billion tender for hiring nine newly built ships for ferrying LNG from the US.

Coal India Limited cuts prices of top grade coal by up to 40% on global cues.

Tata Chemicals Limited said its fertiliser plant at Haldia will be shut for about five

weeks in September-October due to interruption of ammonia supply.

Infrastructure firm JP Associates has pulled out of the project to set up an electronic chip plant that entailed an investment of about Rs340bn.


16/20

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

As the employee unions oppose stake sale in IDBI Bank , the Government said it is

consulting all stakeholders as part of "transformation" of the state-owned lender.

Federal Bank tied up with Phillip Capital , a subsidiary of the Singapore headquartered

Phillip Capital group, for managing the NRI Portfolio Investment Scheme.

The government is considering forming a three-member committee to approve the bad

loan settlement plans of public sector banks, thus providing management the comfort that

their actions won't be questioned by vigilance agencies later.

The newly constituted Banks Board Bureau , headed by former CAG Vinod Rai, on

Friday held its first meeting that was attended by RBI Governor Raghuram Rajan and

Union Minister of State for Finance Jayant Sinha, among Others, The Bureau has been

constituted to recommend the government on selection of heads of Public sector banks

and financial Institutions and help lenders in developing strategies and capital raising

plan.

India's largest carrier Bharti Airtel received its payment bank license that is had applied

for in partnership with Kotak Mahindra Bank , a move that will help the companies takeIndian government's financial inclusion plans to the next level.

State-run Vijaya Bank , announced a reduction in term deposit interest rates by 25 basis

points.

Axis Bank Limited the, Third largest Private Sector Bank, Today announced a cut in its

lending rate by 0.15 per cent to bring it par with its large rivals.

The Supreme Court expressed concern over the "substantial" bad debt burdening the

country's banks and asked the Reserve Bank of India what it was doing as regulator to

ensure that dues were being recovered and not piling up. It also pushed the central bank to

reveal the total amount of such nonperforming assets but relented when its lawyer said

such information may lead to a loss of confidence in the country's banks.


17/20

Uday Kotak targets HDFC and ICICI Bank in saving rate Gamble Uday Kotak has set a

scorching pace for everyone in the banking industry in the past two years. Kotak

Mahindra Bank's deposits, assets and profits have surged. But in a declining interest

rate scenario with credit and deposit growth stuttering, the banking industry is responding

by cutting lending, savings and deposit rates hoping to protect margins and boost lending.


18/20

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19/20

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20/20

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Equity Research Report Ways2Capital 18 April 2016

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