Momentum Picks

Domestic Indices
Indices S&P BSE Sensex CNX Nifty Nifty future S&PBSE 500 S&PBSE Midcap S&PBSE Smallcap Close 20,957.8 6,241.1 6,280.0 7,668.2 6,357.7 6,203.0 Change 249.10 80.15 80.75 75.21 8.18 24.14 Change% 1.2 1.3 1.3 1.0 0.1 0.4

December 6, 2013
Market Outlook

Snapshot

Days action
Global Indices
Indices Close 15821.51 Dow Jones Nasdaq 4,033.2 6498.33 FTSE DAX 9,085.0 Hang Seng 23,642.0 Nikkei 15,208.3 SGX Nifty 6,282.0 * Asian Market at 7:30 am.IST Change -68.26 -4.8 -11.64 -55.7 -70.4 30.2 4.0 Change% -0.43 -0.1 -0.18 -0.6 -0.3 0.2 0.1

Candlestick Formation

Key equity benchmarks hit their weekly closing highs as the Street cheered the exit polls of the recently held Assembly elections that projected a thumping win for the main opposition party. Indices, however, closed off their highs ahead of key US Jobs data. The BSE Sensex rose 1% or 249 points to settle at 20958 while the NSE Nifty settled at 6241, up 80 points or 1.30%. The broader markets lagged benchmarks as the BSE midcap and small cap index gained 0.13% and 0.39%, respectively. The overall market breadth remained tilted in favour of advances The Nifty opened with a huge gap up action after exit polls on Wednesday projected a thumping win for the BJP in the recently held assembly elections in four states. Gains were largely led by financials and capital goods stocks while profit booking in healthcare, FMCG and IT took away some of the opening gains as the index settled off the days highs (6300) by sixty points at 6241 The price action resulted in a High wave bear candle with larger upper shadow indicating profit booking after a strong gap up and left an unfilled bullish gap (6160-6232) below its lows. The larger upper shadow indicates profit booking near the higher boundary of a rising trend channel placed at 6300 (in blue) and bearish gap of November 5, 2013 (6304-6317) As mentioned in the previous edition, the cool-off in the last couple of sessions proved to be a breather as the index zoomed past Mondays bull candles high (6228) continuing its uptrend. In the process, it also made a higher bottom at Wednesdays lows (6150) that remains an immediate support from a short-term perspective. On Thursday, the index witnessed profit booking at higher boundary of rising trend channel at 6300 (in blue), which coincides with the falling gap area of Novembers 5 (6304-6317) As detailed in earlier editions of this report, after breaking out of Double bottom formation at identical lows of 5972, the Nifty is making higher high and higher bottom formation and looks on course to challenge its lifetime high of 6357. On Thursday, with a high of 6300, it has reached within striking distance of the same Going forward, we advise a cautious approach near all-time highs (6357) as the outcome of assembly election results due on Sunday and US economic data would provide further directional bias for the index in Mondays session However, only a faster retracement below 6150 on a closing basis would derail the current bullish trend

CNX Nifty Technical Picture

Nifty Trend Trend Reversal Support Resistance 20 Days EMA 200 days EMA 6210-6185 6270-6320 Intraday Range bound Short Term Up 5970 5970 6357 6139 5885

Structurally speaking Oscillators Strategy Intraday spot levels

Recommendations for the day 1. Buy Maruti above 1714.00 2. Buy Hindustan Petroleum Corp above 225.00 3. Buy IndusInd Bank above 442.00 4. Sell Century Textile below 276.00 *All Recommendations are of Dec Future

Among momentum oscillators, the 14-day RSI is seen trending up steadily. With the current reading of 58 it supports bullish momentum in the short-term. The past two days breather has helped intra-day oscillators to work their way out of the overbought situation After strong gains on Thursday, the index is likely to consolidate in the upcoming session. Declines in Nifty December futures towards 6250-6240 may be utilised to go long for target of 6290-6310 stop loss 6225 The Nifty spot has resistance at 6270, 6320 while support is at 6210, 6185 levels

ICICI Securities Ltd. | Retail Equity Research

Exhibit 1: CNX NSE Nifty Daily Candlestick Chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 2

CNX Bank Nifty Futures Outlook CNX Bank Nifty Futures

Indices
CNX Bank Nifty

Days action
Change
501.3

Close
11,726.6

change%
4.5

The Bank Nifty jumped to a monthly high after exit polls projected a thumping win for the BJP in state assembly elections held recently. December Bank Nifty contract gained 4.47% to close at 11726 The price action for the day formed a strong bull candle with a close near its high(11747) and huge 250 points bullish gap below its low (11475-11225) The Bank Nifty opened above Mondays bull candles high (11432) and consolidated the gains for the next few hours. The index, however, closed near the days high as the buying momentum continued led by private banking stocks As indicated in earlier editions of this report, past couple of sessions price action proved to be a breather as the index resumed its short-term uptrend on Thursday with huge gains. After Thursdays session, the index also formed a fresh higher low above 200 day EMA (11019), which remains a key short term support for future price action. Only a faster retracement below 11000 would threaten the upward momentum The entire price action since November 13, 2013 lows of 10481 is well channelled and maintains rising peak and trough formation, which describes an uptrend. After Thursdays price action, the index has approached the higher boundary of the rising blue channel and November highs at 11835 where it may turn volatile. Sustained breach above 11835 would inject further upsides towards 12500 in short-term Among momentum oscillators, the 14 period RSI continues to trend higher and supports overall positive momentum given current reading of 63 Bank Nifty December futures has supports at 11600, 11470 while resistances are at 11850, 11950

Candlestick Formation

CNX Bank Nifty Technical Picture

Bank Nifty Trend Trend Reversal Support Resistance 20 Days EMA 200 days EMA Intraday Up 11600 11600-11470 11850-11950 Short Term Up 10500 10500 11800 11126 11019

Structurally speaking

Oscillators Key Intraday levels

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Page 3

Exhibit 2: CNX Bank Nifty Daily Candlestick Chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 4

Trend Scanner
Positive Trends
Scrip Name HDFC Bank Ltd Kotak Mahindra Bank Ltd Maruti Suzuki India Ltd Oil & Natural Gas Corp Ltd Reliance Industries Ltd Close 688.1 761.95 1700.15 290.9 871 % Change 10-day SMA Delivery (%) 4.64 1.72 3.68 1.39 1.75 658.59 750.41 1664.97 289.98 852.01 82.78 60.25 75.77 60.53 63.31

Candlestick Patterns
Bullish Reversal Pattern Morning Star Scrip Name Godrej industries Close 279.35 Bearish Reversal Pattern Bearish Candle Scrip Name Hind Unilever Sun Pharma Century Textile Bullish Candle Close 565.35 576.60 274.20

Negative Trends
Scrip Name Hindustan Unilever Ltd Dr Reddy's Laboratories Ltd MindTree Ltd Close 565.35 2414.75 1361 % Change 10-day SMA Delivery (%) -1.16 -1.43 -1.83 580.80 2448.4 1378.83 70.12 67.99 63.35

IndusInd Bank HPCL Canara Bank Maruti

438.85 223.40 259.05 1700.15

Overbought Stocks
Stocks rising for 5 days & stochastic overbought Scrip Name Tata Steel GAIL Jindal Steel Close 421 345 282.05

Oversold Stocks
Stocks falling for 5 days & stochastic oversold Close 124.55 Stochastic 18.63 92.96 Hind Zinc 81.43 82.36 Stochastic Scrip Name

Note: For Candlestick pattern description please refer towards end of the report.

Stocks hitting 52 week high

Scrip Name Aurobindo Pharma JSW Steel NIIT Tech Voltas Close 302.6 930 335 115.95

Stocks hitting 52 week low

Scrip Name Pfocus Close 26.85

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Page 5

Market Activity Report

Sectoral Indices Performance
Sector Auto Banks BSE Small Cap Capital Goods Consumer Durables FMCG Healthcare IT Metals Mid Cap Oil & Gas Power PSU Real Estate Close 12241.8 13298.3 6203.0 10197.1 5737.4 6364.0 9478.4 8426.3 9658.1 6357.7 8701.1 1668.3 5868.8 1362.8 Previous 12196.2 12732.8 6178.9 9844.0 5715.8 6424.4 9619.4 8469.1 9552.5 6349.6 8594.0 1646.5 5781.4 1342.9 Change 45.6 565.5 24.1 353.1 21.6 -60.4 -141.0 -42.8 105.7 8.2 107.1 21.8 87.3 19.9 % Change 0.4 4.4 0.4 3.6 0.4 -0.9 -1.5 -0.5 1.1 0.1 1.2 1.3 1.5 1.5 Volume 1544000 6666000 54022000 4658000 1265000 1168000 2979000 704000 5939000 40222000 1208000 17515000 11145000 12012000

Sectoral Indices - Monthly Performance (%)

Capital Goods Metals Power BSE Small Cap Banks IT Mid Cap Auto Healthcare PSU Real Estate Oil & Gas FMCG Consumer Durables -7.8 -10.0 10.8 3.3 3.2 2.5 1.2 1.0 0.9 -0.4 -0.8 -0.8 -1.8 -2.2 -3.9 -5.0 0.0 (%) 5.0 10.0 15.0

Institutional Activity
Cash Segment (| Cr) 29-Nov-13 2-Dec-13 3-Dec-13 4-Dec-13 5-Dec-13 FII 745.2 791.0 516.6 52.1 1,151.5 DII -101.8 -618.2 -671.3 -18.1 -674.0

Exchange Cash Turnover (| crore)

15000 2,062 10,246 2,095 10,162 1,974 10,707 1,958 9,727 2,087 12,948 5-Dec
5-Dec 118,967

5000 0

28-Nov

2,244 12,724

10000

29-Nov

2-Dec BSE Cash

3-Dec 4-Dec NSE Cash

NSE Derivatives Turnover (| crore)

400000 300000 81,791 81,946 78,567 100000 0 28-Nov 99,000 4-Dec 200000 286,472

29-Nov

2-Dec 3-Dec NSE Derivative

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Page 6

Global Asset Classes

Global Currencies
Spot Rupee (|) Dollar Index Euro British Pound Japanese Yen Australian ($) Swiss Franc Close 61.753 80.266 1.366 1.633 101.830 0.905 0.897 Prev.close 62.050 80.633 1.367 1.633 101.780 0.906 0.897 % Chg 0.5 -0.5 0.0 0.0 0.0 -0.1 0.0

Breadth Analyser
Nifty Heat Map Advances / Declines

IDFC BHEL Indusind Bank HDFC Ltd

112.8 7.0% 171.4 4.1% 438.9 2.8% 827.5 1.9% 871.0 1.7% 282.1 1.2% 96.3 0.7% 1,871.7 -0.2% 1,987.2 -0.6% 565.4 -1.2%

ICICI Bank Bank of Baroda PNB JP Asso. Kotak Bank Ambuja Cement Asian Paints Infosys HCL Tech ITC

1,135.9 6.5% 669.7 3.7% 582.2 2.3% 55.4 1.8% 762.0 1.7% 185.9 1.1% 504.9 0.5% 3,351.3 -0.4% 1,108.7 -0.7% 308.8 -1.3%

HDFC Bank Maruti Grasim Ind Tata power NMDC Bharti Airtel Bajaj Auto Cairn India Sesa Goa Lupin

688.1 4.6% 1,700.2 3.7% 2,696.9 2.2% 83.5 1.8% 142.2 1.6% 335.4 0.9% 1,940.3 0.4% 318.9 -0.5% 180.9 -0.7% 854.1 -1.4%

L&T Coal India BPCL Tata Steel GAIL Hero Moto ACC Tata Motors Ranbaxy Dr Reddy

1,086.5 4.5% 280.0 3.0% 358.4 2.2% 421.4 1.8% 344.8 1.5% 2,050.5 0.9% 1,106.5 0.4% 390.3 -0.6% 440.3 -0.9% 2,414.8 -1.4%

Axis Bank Reliance Infra SBI DLF ONGC Hindalco M&M Cipla NTPC Sun Pharma

1,241.5 4.2% 437.5 2.9% 1,856.0 2.1% 156.0 1.8% 290.9 1.4% 121.8 0.9% 944.4 0.1% 387.6 -0.6% 143.9 -1.0% 576.6 -2.4%
46%

BSE

NSE 5%

6%

48%

45%

50%

Global Treasury Yields

Closing Yield (%) India 10 year US 10 Year EURO 10 Year GBP 10 Year JPY 10 Year 9.11 2.87 1.86 2.92 0.63 Previous Yield (%) 9.09 2.84 1.82 2.91 0.63

RIL JSPL Power Grid Ultratech TCS HUL

Commodities
Close Gold Copper Brent Crude 1224.42 3.23 111.01 Prev. Close 1243.21 3.23 111.54

US Dollar
%Chg -1.51 0.00 -0.48

ICICI Securities Ltd. | Retail Equity Research

Page 7

Stock recommendations for the day

Exhibit 3: Maruti (MARUTI) Daily Candlestick Chart

Maruti (MARUTI) Dec Future

CMP : 1712.20

Comment : Falling channel breakout in the daily chart and taking support at the 21 days EMA and bullish crossover of the 14 periods RSI in daily chart

Action : Targets : Stop-loss :

Buy above 1714.00 1738/1750/higher 1701.00

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 8

Exhibit 4: Hindustan Petroleum Corp (HINPET)

Daily Candlestick Chart

Hindustan Petroleum Corp(HINPET) Dec Future

CMP : 224.45

Comment : Range breakout in the daily chart and price taking support at the 55 days EMA in the daily chart and MACD giving buy signal in the daily chart Action : Targets : Stop-loss : Buy above 225.00 229.20/231.50/Higher 222.80

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 9

Exhibit 5: IndusInd Bank (INDBA)

Daily Candlestick Chart

IndusInd Bank (INDBA) Dec Future

CMP : 441.75

Comment : Price closed above 200 days SMA with a bullish gap and MACD giving buy signal moving above trigger line in daily chart Action : Targets : Stop-loss : Buy above 442.00 449/453/Higher 438.20

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 10

Exhibit 6: Century Textile (CENTEX)

Daily Candlestick Chart

Century Textile (CENTEX) Dec Future

CMP : 276.60

Comment : Price taking resistance at the 200 days EMA and price closed below rising channel in the daily chart and stochastic giving sell signal in the daily chart Action : Targets : Stop-loss : Sell below 276.00 271/268.50/Lower 278.80

Source: Spider software, ICICIdirect.com Research

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Page 11

Previous Days Performance

Scrip PNB Tata Power L&T IB Realestate * Return Opportunity Product Future Future Future Future Strategy Buy Buy Buy Sell Recommended Price above 573.00 above 83.00 above 1050.00 below 68.00 Targets 582/587/+ 84.70/85.50/+ 1066/1074/+ 66.50/65.70/SL Gain/Loss %* 568.50 82.10 1.45 1041.00 68.75 Comment No Trade (Opened at Target) Target 1 Achieved No Trade (Opened at Target) No Trade

Stock profits: Avg 1.45% per trade Strike Rate for the day:1/1

(Cum. Profits over last 168 days: 248.20%) (Cum strike rate over 168 days: 247/401(62%)

Note: The follow-up and performance review table of the strategies indicates the profit opportunity that was available in the strategies. Individual profits may vary, depending upon the entry and exit price and stop losses.

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Page 12

Nifty Options OI Distribution

70 60 50 OI in Lacs 40 48.6 41.7 56.5 57.8 30 36.3 33.4 20 10 0 23.7 39.6 40.7

Derivative Comments some profit taking in the latter part of the days trade. At the end, the Nifty closed down at 6280, up 81 points for the day. Nifty futures premium declined and settled at 38 points. India VIX dipped 4.09% and closed at 23.71 FIIs bought | 1152 crore in the cash segment. In the index futures and options segment, FIIs bought | 772 crore and | 1443 crore, respectively. In stock futures, they bought | 700 crore The highest Put base remains at 6000, with over 48 lakh shares. The highest Call base remains at 6500 strike with over 58 lakh shares. On the Call side, 6200 & 6300 strikes saw reduction of 3.50 lakh shares each. On the Put side, 6200 & 6300 strikes saw addition of 1.30 & 4.80 lakh shares, respectively Stocks Analysis

Nifty Call Put Concentration (DEC)

Reacting on exit poll results, the Nifty opened gap up with nearly 100 points. However, later it lost momentum and witnessed

37.4

17.3

5.0

5.6

16.6

18.5

6.3

9.9 6500

5800

5900

6000

6100 Call

6200

6300

6400

6600

Put

4.3

Nifty OI vs. Future Price

25 20 OI In Lakh 22.7 22.8 22.6 23.7 22.0 21.8 22.0 21.5 10 5 0 2-Dec 3-Dec 4-Dec 19-Nov 20-Nov 21-Nov 22-Nov 25-Nov 26-Nov 27-Nov 28-Nov 29-Nov 5-Dec 18.6 20.1 20.8 21.1 22.4 15 6500 6400 6300 6200 6100 6000 5900 5800

OI addition: We saw long build-up in Voltas India, HDFC, Coal India, REC and Crompton Greaves while short build-up was seen
in Power Grid, ITC, Dr Reddys, Sesa Sterlite and NTPC

OI shedding: We saw short covering in CESC, IDFC, Glenmark Pharma, HDFC Bank and JP Power whereas long closure was
seen in Indraprastha Gas, Sun TV, Dabur India, Aurobindo Pharma and Cipla

OI Gainers
Symbol VOLTAS POWERGRID OI(Lots) 6452000 102840000 8207000 7778000 31748000 %Chg 21.92 20.79 19.22 15.67 14.67 Price 117.45 92.8 281.4 834.0 311.6 %Chg 4.03 -0.11 2.65 1.79 -1.27

OI Losers
Symbol CESC GLENMARK IDFC HDFCBANK JPPOWER OI(Lots) 598000 888500 26522000 11241500 13369000 %Chg -12.70 -10.30 -8.54 -7.91 -7.47 Price 396.4 531.1 113.5 691.2 20.5 %Chg 1.15 0.53 7.02 4.53 2.76

Nifty Futures OI

Nifty Fut Price (RHS)

Nifty Active Strikes

Call (%) Strike 6000 6100 6200 6300 6400 OI chg % -1.52 -6.70 -12.50 -8.12 30.27 IV (%) 23.31 22.32 22.11 21.71 21.18 Put (%) OI chg % -14.28 -8.60 3.43 34.47 24.06 IV (%) 23.82 23.08 22.39 21.63 20.72

COALINDIA HDFC ITC

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Page 13

Support and Resistance Table

SCRIP
SENSEX NIFTY ACC ADANI ENTER. ADANI POWER ADITYA BIRLA ALLAHABAD BANK ANDHRA BANK APOLLO TYRES ARVIND ASHOK LEYLAND ASIAN PAINTS AUROBINDO PHARMA BAJAJ AUTO BOB BOI BATA INDIA BHARAT FORGE BPCL BHARTI AIRTEL BHEL CAIRNS INDIA CANARA BANK CENTURY TEXT. CESC CHAMBAL FERT. CIPLA COAL INDIA COLGATE PALMOLIVE CROMPTON GREAVES DABUR INDIA DISH TV DIVI'S LAB.

CLOSE
20957.81 6241.10 1106.50 269.45 39.20 1234.80 92.55 62.05 78.80 128.05 16.35 504.85 302.55 1940.25 669.65 217.25 1041.05 299.85 358.35 335.35 171.35 318.85 259.05 274.20 393.85 38.20 387.55 279.95 1257.30 127.25 163.20 59.95 1135.85

S1
20987.7 6249.50 1108.10 268.05 39.35 1230.55 92.40 62.05 78.95 125.75 16.10 505.25 298.65 1944.85 669.60 217.65 1033.00 300.70 358.20 335.90 170.65 316.85 257.20 271.15 392.15 38.20 383.85 279.40 1242.40 126.90 161.50 59.45 1125.30

S2
20928.55 6232.35 1103.75 265.80 38.95 1224.55 91.95 61.70 78.40 124.75 15.95 503.80 297.15 1935.35 666.35 216.20 1025.85 299.10 355.90 334.40 169.35 315.90 253.95 268.80 388.95 38.05 382.15 276.75 1237.70 125.75 160.65 58.75 1118.80

S3
20869.45 6215.20 1099.40 262.55 38.55 1209.50 91.50 61.35 77.90 123.75 15.85 502.35 295.65 1925.85 663.10 214.70 1018.75 297.45 353.60 332.90 168.05 315.00 250.65 266.45 385.70 37.95 380.45 274.10 1232.95 124.60 159.75 57.50 1112.35

R1
21105.9 6283.75 1116.80 272.65 40.15 1242.55 93.30 62.75 80.00 128.45 16.45 508.15 303.90 1963.85 676.10 220.55 1043.35 303.90 362.85 338.90 173.25 319.45 263.70 275.25 398.60 38.45 388.40 284.70 1261.75 129.20 163.25 60.85 1138.75

R2
21208.45 6316.35 1120.80 274.95 41.30 1248.55 94.30 63.35 80.80 129.80 16.60 509.95 306.55 1972.85 684.00 223.00 1048.55 305.35 366.20 341.25 174.65 320.75 266.35 277.30 402.00 38.85 390.70 286.30 1271.40 130.80 164.10 61.55 1145.45

R3
21311 6348.90 1124.80 278.15 42.40 1263.55 95.35 63.95 81.55 131.20 16.80 511.75 309.20 1981.85 691.90 225.45 1053.75 306.80 369.60 343.60 176.05 322.05 269.00 279.40 405.35 39.30 392.95 287.90 1281.05 132.45 165.00 62.75 1152.20

TREND
+ve +ve +ve Neutral +ve Neutral +ve +ve +ve -ve -ve +ve -ve +ve +ve +ve -ve +ve +ve +ve +ve -ve +ve -ve +ve +ve -ve +ve -ve +ve -ve Neutral -ve

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Page 14

SCRIP
DLF DR.REDDY'S LAB. EXIDE IND. FEDERAL BANK FIN. TECH. FUTURE RETAIL GAIL GMR INFRA. GODREJ IND. GRASIM AMBUJA CEMENT GUJ.STATE PET. HAVELL'S INDIA HCL TECH HDFC BANK HDFC HERO MOTO HEXAWARE TECH. HINDALCO HIND. UNILEVER HPCL HINDUSTAN ZINC HDIL ICICI BANK IDBI IDEA CELLULAR IDFC IFCI ORACLE FIN. INDUSIND BANK INDIA CEMENTS INDRAPRASTHA GAS INDIAN HOTELS IOC

CLOSE
155.95 2414.75 112.55 78.35 159.55 71.55 344.75 21.10 279.35 2696.85 185.90 61.70 753.60 1108.70 688.10 827.45 2050.50 114.35 121.75 565.35 223.40 124.40 50.35 1135.85 65.85 175.10 112.80 25.65 3034.40 438.85 57.60 276.65 49.15 205.35

S1
156.25 2384.75 111.60 78.65 156.55 71.25 344.70 21.10 278.65 2690.90 186.10 60.80 753.45 1096.05 685.65 828.60 2051.80 112.30 121.35 560.60 222.05 123.80 50.40 1132.05 65.80 175.40 112.30 25.65 3020.05 438.25 57.30 272.60 48.60 205.15

S2
155.15 2372.90 110.85 78.05 155.25 70.65 343.15 20.90 276.65 2676.90 185.40 60.20 752.55 1090.35 681.05 824.50 2044.60 111.15 120.70 558.55 219.35 122.85 49.85 1124.05 65.45 174.65 110.65 25.55 3000.25 435.65 56.85 270.55 48.10 204.30

S3
154.10 2361.00 110.05 77.45 154.00 70.15 341.60 20.65 274.60 2662.90 184.65 59.60 751.65 1084.70 676.45 820.40 2037.35 109.95 119.45 556.50 216.65 121.95 49.35 1116.05 65.05 173.90 109.00 25.40 2980.40 433.05 56.35 268.50 47.65 203.45

R1
158.35 2422.35 112.90 79.85 160.25 72.40 347.85 21.55 282.75 2718.90 187.50 61.90 755.25 1111.35 694.80 836.75 2066.25 114.95 122.70 567.05 227.45 125.70 51.45 1148.05 66.55 176.85 115.60 25.90 3059.70 443.45 58.25 277.90 49.35 206.90

R2
160.30 2441.15 113.55 80.45 162.15 72.95 350.35 21.90 284.85 2731.85 188.60 62.45 757.60 1119.00 699.85 842.45 2079.40 116.30 123.40 570.30 229.70 126.65 52.65 1164.90 67.20 177.60 117.20 26.30 3079.55 447.20 58.70 280.55 49.70 208.20

R3
162.25 2459.95 114.15 81.05 164.00 73.50 352.90 22.25 286.90 2744.75 189.65 63.00 759.95 1126.70 704.85 848.20 2092.55 117.60 124.60 573.50 231.90 127.50 53.85 1181.75 67.85 178.35 118.80 26.65 3099.35 450.95 59.20 283.20 50.10 209.50

TREND
+ve -ve -ve +ve -ve Neutral +ve +ve +ve +ve +ve -ve +ve -ve +ve +ve +ve -ve Neutral -ve +ve Neutral +ve +ve +ve +ve +ve +ve Neutral +ve Neutral -ve -ve +ve

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Page 15

SCRIP
IOB IB REAL ESTATE INFOSYS IRB INFRA. ITC IVRCL JAIPRAKASH ASS. JAIPRAKASH HYDRO JAIN IRRIGATION JINDAL ST&POW JSW ENERGY JSW STEEL JUBILANT FOOD KARNATAKA BANK KOTAK MAH.BANK L&T LIC HOUSING NSE LUPIN M&M MARUTI SUZUKI UNITED SPIRITS MCLEOD RUSSEL MRF ADANI PORTS SEZ NSE NHPC NMDC NTPC ONGC OPTO CIRCUITS OBC PETRONET LNG POWER FINANCE POWER GRID POWER TRADING

CLOSE
51.80 68.60 3351.30 98.70 308.75 16.95 55.35 20.40 69.60 282.05 54.45 932.45 1369.10 104.55 761.95 1086.45 202.45 854.05 944.35 1700.15 2552.65 290.75 17494.95 160.40 18.10 142.15 143.85 290.90 22.60 197.30 133.05 163.40 96.30 62.55

S1
51.75 68.75 3329.20 98.20 304.70 16.60 54.95 20.40 69.60 281.00 54.50 929.85 1364.70 104.55 762.35 1083.50 203.10 845.45 940.70 1696.05 2544.25 286.60 17492.65 160.35 18.10 141.85 142.00 290.75 22.30 197.15 131.10 163.55 96.15 62.75

S2
51.55 68.25 3316.90 97.00 302.85 15.95 54.35 20.25 69.20 279.45 54.05 925.45 1351.75 103.90 758.30 1077.35 201.80 842.40 935.45 1685.70 2526.50 284.35 17424.15 159.35 18.05 140.95 141.35 289.35 22.10 196.20 130.10 162.10 95.80 62.20

S3
51.30 67.75 3304.60 95.75 300.95 15.30 53.65 20.15 68.75 276.80 53.65 922.05 1338.75 103.20 754.20 1071.15 200.55 839.35 932.00 1675.30 2512.95 282.10 17355.65 158.35 18.00 140.05 140.70 287.95 21.85 195.25 129.15 160.65 95.40 61.65

R1
52.20 69.75 3357.70 100.65 310.15 17.90 56.15 20.65 70.40 284.10 55.35 938.70 1390.70 105.95 770.50 1095.80 205.65 857.65 951.30 1716.85 2579.75 292.10 17629.65 162.35 18.20 143.65 144.35 293.60 22.70 199.10 133.40 166.45 96.90 63.80

R2
52.65 70.75 3371.95 102.10 312.90 18.10 56.70 21.00 71.10 285.65 55.90 943.15 1398.75 107.05 775.65 1107.80 207.15 863.75 956.60 1732.65 2597.45 294.90 17729.35 165.60 18.35 144.65 145.55 295.45 22.90 201.70 134.50 168.40 97.55 64.70

R3
53.05 71.75 3386.20 103.55 315.60 18.35 57.45 21.40 71.75 288.35 56.50 946.55 1406.80 108.20 780.85 1119.80 208.65 869.80 960.00 1748.45 2611.00 297.65 17829.05 168.90 18.45 145.70 146.70 297.35 23.05 204.35 135.65 170.35 98.20 65.60

TREND
+ve +ve -ve +ve -ve +ve Neutral +ve +ve Neutral +ve Neutral +ve +ve +ve +ve +ve -ve Neutral +ve Neutral -ve +ve +ve +ve +ve -ve +ve -ve +ve -ve +ve +ve +ve

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SCRIP
PUNJ LLOYD PNB RANBAXY RAYMOND RCOM REL. CAPITAL RELIANCE INFRA. RELIANCE RELIANCE POWER RENUKA SUGAR REC SAIL SESA GOA SHRIRAM TRANS. SIEMENS SINTEX IND. SBI SUN PHARMA SUN TV SYNDICATE BANK TATA CHEMICALS TATA MOTOR DVR TATA MOTORS TATA POWER TATA TEA TCS TECH MAHINDRA TATA STEEL TITAN IND. UCO BANK ULTRATECH CEMENT UBI UNITED PHOSPH. UNITECH

CLOSE
28.50 582.15 440.30 275.65 139.10 387.05 437.45 871.00 74.10 21.05 225.25 70.15 180.90 591.05 620.45 34.10 1855.95 576.60 373.60 89.50 272.80 201.30 390.30 83.50 146.65 1987.15 1682.30 421.40 226.70 75.30 1871.65 122.80 165.90 15.80

S1
28.40 584.50 434.20 270.80 139.10 386.80 437.35 871.50 74.15 20.55 225.90 70.10 177.90 592.10 619.80 34.10 1858.75 567.75 368.55 89.65 270.60 199.55 385.35 83.55 146.90 1968.95 1666.40 420.70 226.75 75.40 1851.90 122.65 165.85 15.60

S2
28.20 579.65 429.75 268.20 138.50 384.90 434.45 869.25 73.75 20.30 224.35 69.80 176.55 587.70 615.05 33.75 1849.65 565.05 365.25 89.15 268.25 198.00 382.80 83.15 146.25 1959.45 1660.20 419.20 225.95 75.05 1844.25 121.85 165.00 15.40

S3
27.95 574.85 425.25 265.60 137.90 383.05 431.60 867.05 73.40 20.05 222.75 69.45 175.20 583.35 610.30 33.35 1840.55 562.35 362.00 88.65 265.95 196.50 380.25 82.70 145.55 1949.95 1653.95 417.70 225.15 74.65 1836.55 121.05 164.10 14.65

R1
28.85 594.15 441.90 276.75 140.35 390.55 443.05 876.00 74.90 21.15 229.05 70.80 181.55 600.90 629.30 34.80 1877.00 580.00 375.50 90.65 273.50 201.80 391.75 84.40 148.20 1994.20 1685.25 423.70 228.35 76.15 1878.50 124.30 167.55 16.05

R2
29.20 602.40 445.75 279.75 142.50 394.55 447.05 882.55 75.45 21.45 231.90 71.30 183.40 606.10 635.30 35.40 1893.65 586.10 378.95 91.50 274.95 202.90 394.95 85.40 149.15 2006.80 1694.65 426.20 229.15 76.95 1891.80 125.40 169.55 16.30

R3
29.50 610.65 449.60 282.70 144.65 398.55 451.05 889.15 76.00 21.75 234.70 71.80 185.20 611.35 641.35 35.95 1910.30 592.25 382.40 92.35 276.40 204.05 398.15 86.35 150.10 2019.45 1704.05 428.75 230.00 77.75 1905.05 126.50 171.55 17.00

TREND
+ve +ve -ve -ve +ve +ve +ve +ve +ve -ve +ve +ve -ve +ve +ve +ve +ve -ve -ve +ve -ve -ve -ve +ve +ve -ve -ve +ve +ve +ve -ve +ve +ve Neutral

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SCRIP
AXIS BANK TATA COMM. VOLTAS WIPRO YES BANK ZEE

CLOSE
1241.50 288.50 116.60 492.90 395.05 263.75

S1
1240.65 286.20 116.45 489.55 393.15 258.15

S2
1235.10 283.40 115.15 486.40 388.45 256.25

S3
1229.60 280.65 113.85 482.45 383.80 254.30

R1
1251.70 289.25 119.00 495.90 402.55 265.75

R2
1265.35 290.80 120.10 499.10 406.35 269.55

R3
1279.00 292.35 121.20 503.00 410.15 273.30

TREND
+ve -ve +ve Neutral +ve -ve

NOTES: Please execute the recommendation within the levels provided in the report Once the recommendation is executed, it is advisable to keep strict stop loss as provided in the report Avoid entering into the recommendation in the first 5 min of trade If the recommendation opens near the target levels due to gap up/gap down opening, then the recommendation is considered not initiated The recommendations are valid only for the day and should be squared off by the end of the day. Only stocks in derivatives segment have been considered for daily trading. Medium to long-term prospects of a stock does not have any bearing on the daily view.

Trading Portfolio allocation It is recommended to spread out the trading corpus in a proportionate manner between the various technical research products. Please avoid allocating the entire trading corpus to a single stock or a single product segment. Within each product segment it is advisable to allocate equal amount to each recommendation. For example: The Momentum Picks product carries 3 to 4 intraday recommendations. It is advisable to allocate equal amount to each recommendation

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Recommended Product wise Trading Portfolio allocation

Products

Allocations Product wise Max allocation allocation in 1 stock 8% 6% 8% 8% 15% 15% 15% 15% 10% 100% 2-3% 3-5% 3-5% 3-5% 5% 2-4% 5-10% 5-10% -

Return Objective Number of Calls Frontline Stocks 0.50-1% 4-5% 5-7% 5-7% 7-10% 7-10% 10% and above 10% and above Mid-cap stocks 2-3% 7-10% 7-10% 7-10% 10-15% 10-15% 15% and above 15% and above Duration

Daily Calls Short term Delivery Weekly Calls Weekly Technical Monthly Call Monthly Technical Techno Funda Technical Breakout Cash in Hand

3-4 Stocks 7-10 p.m 1-2 Stocks 1-2 Stocks 2-3 Stocks 5-8 Stocks 1-2 Stocks 1-2 Stocks -

Intraday Opportunity based 1 Week 1 Week 1 Month 1 Month 6 Months 3-6 Months -

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Candlesticks Glossary:
Candlestick patterns describe the market sentiment for the specified period. Some of the formations suggest reversal of sentiment (trend) and, therefore, are important for a chart reader. By themselves, the patterns do not carry any price target but only an indication of change in market behaviour. More importance needs to be given to the placement of the pattern within larger trend

Bullish Engulfing Line: A potential bottom reversal pattern. This pattern typically appears at the culmination of a decline or
downtrend. The market falls, and a black candle forms (ideally a small black candle). Next, a white real body wraps around the prior sessions black body. Low of the pattern becomes short term support for prices

Piercing Line: Potential bottom reversal pattern. A black body forms in the downtrend. The market continues moving south on the next sessions open but that session culminates in a white real body that closes (e.g. pierces) than half way or more into the prior black body. Lowest low between two candles is referred to as technical support for prices Hammer: A candlestick line which, during a downtrend, has a very long lower shadow and small real body (black or white) at the top end of the sessions range. There should be no, or a very small, upper shadow. Pattern suggests buying support during declines and needs confirmation in terms of sustainability of prices above head of the Hammer in following session Bearish Engulfing Line: Potential top reversal signal. This two candlestick pattern emerges during a rally. A black candle real
body wraps around a white real body (classically a small white candle) Highest high between two candles becomes resistance level for prices for future reference

Dark Cloud cover: A dark cloud cover forms a top reversal pattern. The first session should be a strong, white real body. The
second sessions price opens over the prior sessions high (or above the prior sessions close). By the end of the second session, it closes near the low of the session and should fall well into the prior sessions white body. Pattern suggests that market has a poor chance of rising immediately

Shooting Star: A single candlestick line during a rally in which there is a small real body (white or black) at the bottom end of the session's range and a very long upper shadow. The candle line should also have little or no lower shadow. Pattern suggest the trouble for prices overhead

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Pankaj Pandey

Head Research ICICIdirect.com Research Desk, ICICI Securities Limited, 1st Floor, Akruti Trade Centre, Road No 7, MIDC Andheri (East) Mumbai 400 093 research@icicidirect.com

pankaj.pandey@icicisecurities.com

Disclaimer
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