Equity research report 04 december 2017 ways2capital

TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - Nifty futures and bank nifty future market closed at 10154/ 25260.according to technical analysis if nifty futures and bank nifty future moves downword in upcoming treading sessions then 10100/ 25100 will be next support level, if it break this level then nifty futures and bank nifty future can touch 10000 / 24500 level . it will be hard resistance. meanwhile in reveres there is support on 10200/ 25500 for nifty futures and bank nifty future after breaking this support with volume there is big support for nifty futures and bank nifty future on 10400/26000..

Monday, 4 Dec 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

10580

10365

10258

10150

9935

R2

R1

PP

S1

S2

10811

10518

10370

10223

9928

R2

R1

PP

S1

S2

11510

10465

10295

9891

9081

R2

R1

PP

S1

S2

27300

26095

25495

24890

23688

R2

R1

PP

S1

S2

27540

26446

25898

25350

24255

R2

R1

PP

S1

S2

28596

26583

25575

24570

22555

BANK NIFTY DAILY

WEEKLY

MONTHLY

MOVING AVERAGE 21 DAYS

50 DAYS

100 DAYS 200 DAYS

NIFTY

10333

10205

10083

9696

BANK NIFTY

25604

24959

24714

23440

PARABOLIC SAR

DAILY WEEKLY MONTHLY

NIFTY

100083

9074

7674

BANK NIFTY

24620

21124

16225

PATTERN FORMATION ( NIFTY )

Details of Chart - Last week nifty opened at 10380 and close at 10154 made high of 10428 and low of 10138,moved almost 240 point in downward direction,according to technical analysis if nifty can move further downward direction upto the level of 10000 if nifty can sustain the level of 10100 it can shows upward movement upto 10300 10530..

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart - Last week banknifty opened at and close at 25775 made high of 25988 and low of 25210,moved almost 700 point in downward direction,according to technical analysis bank nifty break its major support of 25200,it can go upto the level of 24800 from this level

NSE EQUITY DAILY LEVELS R3

R2

R1

PP

S1

S2

S3

ADANIPORTS NAME AMBUJACEM ASIANPAINT

COMPANY EQ EQ EQ

438 278 1240

414 271 1194

400 268 1165

391 265 1148

376 261 1119

367 258 1102

344 252 1056

AUROPHARMA AXISBANK BAJAJ-AUTO BAJFINANCE BHARTIARTL BOSCHLTD BPCL CIPLA COALINDIA DRREDDY EICHERMOT GAIL HCLTECH HDFC HDFCBANK HEROMOTOC HINDALCO O HINDPETRO HINDUNILVR IBULHSGFIN ICICIBANK INDUSINDBK INFRATEL INFY IOC ITC KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC POWERGRID RELIANCE SBIN SUNPHARMA TATAMOTORS TATASTEEL TCS TECHM ULTRACEMCO UPL VEDL WIPRO YESBANK ZEEL

EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ

800 612 3525 1891 526 25203 547 660 300 2454 33766 507 915 1855 1920 3893 281 459 1329 1356 338 1751 408 1074 407 268 1097 1272 879 1496 9087 197 192 225 1025 372 604 463 762 2813 548 4552 827 340 314 333 653

745 578 3388 1812 508 22617 525 632 287 2356 31826 483 878 1770 1888 3745 261 437 1293 1264 324 1708 396 1024 399 263 1057 1245 851 1458 8836 190 187 215 975 346 570 435 726 2732 514 4384 785 317 303 322 611

710 556 3299 1760 498 21259 510 615 280 2295 30613 469 855 1716 1870 3648 248 423 1269 1212 315 1680 390 992 394 259 1031 1228 832 1433 8726 186 183 209 942 330 549 417 704 2681 492 4279 758 301 296 314 584

689 544 3251 1733 490 20031 502 604 275 2259 29886 459 841 1684 1857 3598 241 415 1257 1172 309 1665 383 975 390 257 1016 1218 822 1420 8585 183 181 206 925 320 536 407 690 2651 481 4216 742 293 292 310 569

654 522 3162 1681 480 18673 487 587 267 2198 28673 444 818 1630 1838 3500 228 401 1233 1120 300 1637 378 943 385 253 991 1201 804 1395 8475 178 178 200 892 304 515 389 668 2600 458 4111 716 278 285 303 542

633 510 3114 1654 472 17444 479 576 262 2161 27946 435 804 1598 1825 3450 221 393 1221 1080 295 1621 371 925 382 251 976 1191 793 1382 8334 175 176 196 875 295 501 379 654 2570 447 4048 700 270 281 298 528

578 476 2977 1575 454 14858 456 548 249 2064 26006 411 767 1512 1794 3303 201 371 1186 989 281 1578 358 875 373 245 935 1164 764 1344 8083 168 170 186 825 269 467 350 619 2490 413 3880 657 270 286 247 486247 247

TOP 15 ACHIEVERS SR.NO

SCRIPT NAME

//

PREV CLOSE

CMP

% CHANGE

TOP 15 LOOSERS SR.NO

SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

BOSCH LTD

18957.35

19988.15

+5.44

1

HINDALCO INDS

251.65

235.35

-6.48

2

JAIN IRRIGATION

113.45

118.40

+4.36

2

VEDANTA

305.90

286.70

-6.28

3

NHPC

27

27.95

3.52

3

TATA MOTORS

425.50

398.90

-6.25

4

FORTISHEL CARE

138.75

143.60

+3.50

4

AUROBIN PHA

715.10

672.40

-5.97

5

MINDTREE

512.45

529.90

+3.41

5

SBI

332.40

312.75

-5.91

6

PC JEWELLER

383.60

392.05

+2.20

6

INFOSYS

1009.55

958.80

-5.03

7

HBL POWER

61.45

62.65

+1.95

7

EICHER MOTOR

30812.35

29280.95

-4.97

8

NATIONALE STEEL

44.15

45.00

1.93

8

HIND PETROL

430.30

409.55

-4.82

9

BALKIRISH INDUS

2074.40

2113.40

+1.88

9

ADANI PORTS

404.60

389.75

-4.41

10

NMDC

126.90

129.50

1.85

10

BAJAJFIN LTD

1790

1711.60

-4.38

11

DALMIA BHART

3063.80

3120.15

1.84

11

RELI INDUS

951.10

910.10

-4.31

12

CAN FIN HOMES

458.65

457.05

+1.83

12

SUN PHARAM

549.50

525.95

-4.29

13

TATA GLOBAL

278.70

283.55

+1.74

13

TECH MAHI LTD

494.10

472.90

-4.29

14

CASTROL INDIDA

393.80

400.50

+1.70

14

POWEGRID CORP.

211.20

202.95

-3.91

15

RBL BANK

512.60

520.65

+1.57

15

TATA STEEL

708.45

680.90

-3.89

AM 204 BUJ A CEM ENT

232

+13.67 %

AMBUJA CEMENT

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS) NSE FUTURE

NSE FUTURE : BUY ACC FUTURE ABOVE 1710 TGT 1750 SL 1690 NSE FUTURE : BUY SBIN FUTURE BELOW 318 TGT 310 SL 323

NSE CASH

NSE CASH : BUY AB CAPITAL CASH ABOVE 198 TGT 210 SL 191 NSE CASH : BUY PPAP CASH ABOVE 535 TGT 560 SL 520

NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK

IMPORTANT EVENTS TO WATCH OUT FOR NEXT WEEK

- Coming week again

promises to be full of action as the Nikkei service PMI data for the month of November will be announced. Apart from this, the interest rates sensitive sectors like banking, auto and reality will hog the limelight as the Reserve Bank of India is scheduled to meet on December 6, 2017.

The Gujarat elections will also be the next big trigger for markets to find further direction.

Upcoming events Dec 05 – Nov Nikkei Services PMI Dec 6 – RBI Policy meet

NIFTY TUMBLES 2.5% DURING THE WEEK - Fiscal deficit soaring to 96% of the FY18 budget and poor rollovers amid November F&O expiry triggered a late sell-off as Nifty registered its biggest single day fall in over two months. Earlier in the week expectation of another upgrade by Standard & Poor which didn’t come by also dampened the sentiments.There were also green shoots visible as on the other hand, Indian economy rebounded in Q2 as GDP grew 6.3% as compared to the sharp slowdown which was see in the beginning of FY18. Manufacturing also showed signs of recovery. While, core infrastructure sectors during October grew 4.7%. India’s manufacturing sector in November recorded its fastest growth in 13 months. The Nikkei India Manufacturing PMI rose from 50.3 in October to 52.6 in November. This is for the fourth consecutive month that the index has come in above 50 mark. In another important development, OPEC and its allies agreed to maintain oil production cuts until the end of 2018. It also included the consent of Nigeria and Libya, two members of the OPEC which were exempted from the curbs.

NIFTY LIKELY TO CONSOLIDATE AROUND 10000 IN DECEMBER EXPIRY BEFORE MOVING HIGHER - The Nifty50 has come under selling pressure near the November expiry and is heading towards the highest Put base of 10,000 strike. We expect some consolidation to happen around 10,000 before the index starts moving higher.Market participants lightened some long positions ahead of Gujarat elections. The Nifty future premiums were quite high at 50 points, which was an indication of high optimism created in the market. Historically, the Nifty has found it tough to move up sharply amid high Nifty future premiums. If this premium starts shrinking it would be better for the market. It seems this shrinking of future premiums has already started in Friday's selling it was reduced to 23 points.

XANDER INVESTMENT SELLS 1.20 CRORE SHARES OF SADBHAV INFRA -Nomura India Investment Fund Mother Fund bought 92,30,000 shares of Sadbhav Infrastructure Projectsat Rs 136 on the NSE. However, Xander Investment Holding XVII sold 1,20,50,000 shares at Rs 136.02. Sadbhav Infrastructure Projects ended at Rs 136.05, up Rs 0.05, or 0.04 percent on the NSE. EMERGING MARKETS EQUITY FUND BUYS 23.73 LAKH SHARES OF ESCORTS Escorts Benefit And Welfare Trust sold 36,00,000 shares of Escorts at Rs 701.15 on the BSE. However, Emerging Markets Equity Fund bought 23,73,900 shares at Rs 697.65. Escorts ended at Rs 688.90, down Rs 28.10, or 3.92 percent on the BSE. RELIANCE GENERAL INSURANCE GETS SEBI'S GO AHEAD FOR IPO -Reliance General Insurance Company said it has received markets regulator Sebi's go ahead to float an initial public offering.The IPO comprises fresh issue of little over 1.67 crore shares by Reliance General Insurance besides an offer for sale of 5.03 crore shares by Reliance Capital.

The company plans to utilise the proceeds from the fresh issue towards augmenting the solvency margin and consequently increasing the solvency ratio. Besides, the money will be used to meet future capital requirements, which are expected to arise out of growth. SEBI has issued its final "observations" to the draft papers filed by Reliance General Insurance in October, the company said in a statement. The regulator's "observations" are very important for any company to launch any public offers.

At the end of March this year, Reliance General Insurance's book value stood at Rs 1,250 crore. The company's valuation is expected to be over Rs 6,000 crore, an average multiple of around five times. Reliance General Insurance, which received in-principle approval from insurance sector regulator IRDAI in September for the IPO, expects to get listed in the current financial year.

INDIAN ENGINEERS LAUNCH MAJOR ROAD PROJECT IN SOUTH SUDAN – Indian engineers have launched a major infrastructure project in South Sudan that would improve connectivity between two major cities of the country. The project to repair and rehabilitate the Malakal-Melut road would improve accessibility and would be a relief for all road users, including local motorists and traders, as well as humanitarian agencies trying to access vulnerable people, the local Governor, James Tor Munybuny, said yesterday at an event marking the commencement of the work. Praising Indian engineers, who have been serving with the United Nations Mission in conflict-affected South Sudan, Munybuny said the project is a sign of the strong relationship between UNMISS and local authorities and demonstrated their joint commitment to building durable peace in he country India is the second largest contributor of peacekeepers to UNMISS with nearly 2,400 personnel currently deployed. In a media release, the Head of UNMISS' Upper Nile Field Office, Hazel Dewet, said the Malakal-Melut road was critical to the UN Mission's operations in the area and would improve trade and business between these two important towns. "This is not just an important activity that we are undertaking to ensure that we are able to provide the necessary logistical support to far-flung areas where UNMISS is based, be it Melut, or Renk or Bunj, but it is also the beginning of providing some important repair work on a road that brings together families and communities," she said.

EXEMPT POWER DUTY TO BOOST INVESTMENTS: ASSOCHAM TO ODISHA Industry body ASSOCHAM has requested Odisha government to exempt electricity duty for ferro alloy plants to encourage investment for setting up of metallurgical plants across the mineral-rich state. Metallurgical sector not only provides employment opportunities to unskilled, semi-skilled and skilled people but it also holds the potential to fill state coffers as increase in capacity utilisation will boost demand for raw material thereby adding revenue to state exchequer, ASSOCHAM said in a communication to Odisha chief secretary A P Padhi.

The chamber has suggested Odisha government to refer to the industrial policy of Chhattisgarh which has already exempted electricity duty for 15 years to promote investment in the state, thereby enabling the industry to sustain in initial years of production. "We request the Government of Odisha to exempt electricity duty for ferro alloy plants for initial 10-15 years depending upon the size of investment from date of commencement of commercial production that will surely help in making the industry commercially viable," said ASSOCHAM secretary general, D S Rawat in a letter to Padhi. After completion of this exemption period the electricity duty will also be a revenue source to government of Odisha, said Rawat. The letter further highlighted benefits to Odisha government and said raw materials like iron ore, manganese ore, chrome ore and coal would be purchased from the state thereby adding to its revenue in the form of royalty, cess, GST, NMET, DMF and others. Besides, energy generated from power plants including CPP will be consumed within the state and majority of finished products will be sold in the state which will further generate revenue in form of GST, it said. It also said that in addition to the direct/indirect employment, possibility of other peripheral developments will also increase thereby generating job opportunities for local people and development of area.

DR.REDDY'S MIYAPUR UNIT GETS USFDA EIR REPORT - Dr.Reddy’s Lab has received Establishment Inspection Report from the USFDA for Custom Pharmaceutical Services facility, Technology Development Centre at Miyapur in Telangana. Dr Reddy’s Laboratories Ltd, through its wholly owned subsidiary Promius Pharma, LLC, announced its fifth consecutive, first-cycle NDA approval for the Proprietary Products Group, a substantial milestone within the pharmaceutical industry.Dr Reddy's deals in pharmaceutical services and active ingredients, global generics and proprietary products. It derived 66% of FY17 revenues from export formulations, followed by domestic formulations (16%), APIs(15%) and others (3%).The company’s key markets include India, USA, Russia and Germany.

INDIA NOV NIKKEI MANUFACTURING PMI RISES TO 13-MONTH HIGH - At 52.6 in November, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose from 50.3 in October. This indicated a substantial improvement of operating conditions in India’s manufacturing sector. At the broad market group level, growth in consumer and intermediate goods offset a marginal deterioration in investment goods category.The Indian manufacturing sector recorded its strongest improvement in business conditions for 13 months, recording marked and accelerated increases in output and new orders. Furthermore, manufacturing companies observed a renewed increase in new export orders during November.On the job front, greater production requirements led to the fastest rate of employment creation since September 2012. Meanwhile, there was a pick-up in inflationary pressures, with input costs increasing to the greatest extent since April. The upward movement in the headline index was driven by a marked increase in output. Furthermore, the rate of expansion quicken ed to the strongest since October 2016. A combination of higher order book volumes and a decrease in GST rates reportedly contributed to greater production. That said, the rate of growth remained weaker than the trend seen since the inception of the survey in March 2005. Overall new export orders increased for the first time in three months, albeit marginally. It was a positive picture for factory employment in November, with manufacturers raising their payroll numbers at the sharpest rate since September 2012.

Panelists commented on greater inflows of new work. All three monitored broad categories registered expansions, led by intermediate goods. On the price front, input cost inflation quickened to the fastest since April and was solid overall. Among the items reported as being up in price were chemicals,steel and petroleum products. While input prices rose at a stronger pace, the rate of output charge inflation was marginal. Anecdotal evidence indicated that firms were unable to fully pass on higher cost burdens to customers amid intensive competitive conditions. “India’s manufacturing economy advanced on its path to recovery as disruptions from the recent tax reform (GST) continues to diminish. Growth in output and new orders picked up to the fastest since October 2016, reportedly supported by reductions in GST rates and stronger underlying demand conditions. Nevertheless, the headline PMI remained below the average seen since the inception of the survey in March 2005.Stronger factory production levels translated into the fastest rate of employment creation since September 2012.

Meanwhile, export growth rose for the first time in three months as overseas demand for Indian goods improved.

IL&FS ENGINEERING BAGS RS582CR ROAD CONTRACT IN MAHARASHTRA - IT has received a Letter of Acceptance for a Road Contract from IL&FS Transportation Networks Limited. The total value of the contract is Rs582cr and completion period is 21 months. The scope of IL&FS Engineering Services under this contract involves Four Laning from km 165 to km 220 of Amravati - Chikhli section of NH-6 in the state of Maharashtra on Item Rate basis. IL&FS Engineering Services is currently working on Rs5,012cr worth road projects across India.

PIRAMAL ENTERPRISES ACQUIRES DIGEPLEX FROM SHREYA LIFESCIENCES -Piramal Enterprises has announced that they would be acquiring Digeplex and the associated brands from Shreya Lifesciences for an undisclosed sum in order to expand their consumer products business. Specifically, this acquisition would help with expanding the gastrointestinal product portfolio of Piramal Enterprises.

According to the management, the gastro-intestinal market has been growing at 11% every year. In FY17, the company’s revenue from the pharma business came in at Rs4,054cr. Of this, Rs3,517cr came in from the Global Pharma business and Rs537 came in from the Indian Consumer Products business. The company’s revenue from pharma has grown by 17% CAGR from FY11-17 and is expected to reach Rs6,500-7,000 by FY20.

BIOCON GETS EU REGULATOR NOD FOR TRASTUZUMAB BIOSIMILAR -Mylan N.V. and Biocon announced that the European Medicines Agency has accepted for review Mylan's Marketin Authorization Applicat- ions for proposed biosimilar trastuzumab and proposed biosimilar pegfilgrastim. EMA acceptance of the submissions follows an earlier withdrawal of both applications in response to an audit conducted by the European inspecting authority of Biocon's drug product facility. Biocon has completed the Corrective and Preventive Actions outlined as a result of the audit observations. The CAPAs will be confirmed during re-inspection, which will be completed as part of the regulatory review process. Good Manufacturing Practice compliance certificates for Biocon's two drug substance manufacturing facilities in Bangalore have been issued previously.

Approval of these sites is key in the development and approval process as drug substance manufacture is core to the production of the actual bio logic product in GMP compliance. On Thursday, the stock ended at Rs432.25, up by Rs4.45 or 1.04% from its previous closing of Rs427.8 on the BSE. The scrip opened at Rs428 and touched a high and low of Rs436.45 and Rs423.4 respectively. Biocon is a fully integrated biopharma player with API manufacturin g facilities, strong capabilities in biologics and branded generics business in India. Its potential segment of biological have contributed 12% of turnover of FY17.

L&T RECEIVES US$250MN CONTRACT FROM BANGLADESH -Larsen & Toubro, in a press release, stated that the company in consortium with Samsung C&T Corporation of South Korea has received an EPC order from Bangladesh Power Development Board. The scope of the order includes design, detailed engineering, supply, installation and commissioning of 400 MW combined cycle power plant on turnkey basis.

The order is valued at US$250mn. L&T has executed several large gas-based power projects on EPC basis for government utilities and independent power producers in India and abroad.

For FY18, L&T has reduced its order inflow guidance from flat to marginal growth against the 12-15% growth guided earlier. L&T’s H1FY18 order inflow was Rs55,100cr , post which the company has announced orders worth Rs23,000cr so far in Q3FY18. Larsen & Toubro Ltd ended at Rs 1217.3, up by Rs 5 or 0.41% from its previous closing of Rs 1212.3 on the BSE. The scrip had opened at Rs 1219.9 and touched a high and low of Rs 1223 and Rs 1213.3

WHIRLPOOL AIMS

TO

DOUBLE

REVENUE

THROUGH

ORGANIC AND

INORGANIC GROWTH - The management of Whirlpool Corporation stated that they intend to double the revenue of the company by 2020. The management intends to do this through a combination of internal growth as well as acquisitions.

The focus of this growth would be to improve the position of Whirlpool’s Indian products so that the company can gain market share. The management guided that the company would be able to maintain double-digit growth for FY18. The company would also benefit from the reduction in GST on consumer durables. The tax rate on consumer durables was lowered from 28% to 18%. However, higher commodity prices would put pressure on the margins over the next few quarters.

TATA POWER ARM STARTS 300 KW ROOFTOP SOLAR PROJECT IN DELHI - Tata Power Solar, India’s largest integrated solar company, has set another landmark by commissioning an unprecedented rooftop project in India - a solar carport on the rooftop of the sprawling 70,000 sq.mtr Unity One mall, a Unity Group endeavor in Rohini. The unique rooftop carport is estimated to set off 438 Tons of carbon emission annually. Tata Power Solar won the bid in the open tender process fielded by Delhi Metro Rail Corporation or multi -level car parking. The project has been envisaged under net-metering scheme enabling self -reliance in the energy consumption and production cycle. It enables the mall to receive real value of the energy produced by earning on the unused and excess solar electricity produced. It also cuts down the need to install a second meter or an expensive battery storage system as it is directly connected to the local power grid. Ashish Khanna, ED and CEO, Tata Power Solar said, “We feel proud to be associated with yet another milestone solar project for India. It has been achieved by our excellent engineering skills and project management capabilities. After earning the distinction of executing world’s largest rooftop at a single location and India’s largest carport at Cochin, we feel proud to accomplish India’s first carport on a rooftop. ”

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