Religare Morning Digest

Religare Morning Digest
Septamber 30, 2013
Technical Market View
Recommendation
SYMBOL
RELCAPITAL
Buy/Sell
Sell Fut
CMP 332.2
Initiation range 334 - 335
RELCAPITAL: The stock has formed Head and Shoulder
formation on the intraday chart, this is a trend reversal
formation indicating bearish move ahead. Accordingly, one
may initiate trade as per levels given in table. (Trading
period: 3-5 trading sessions)
Stop Loss 346
Target 310
NIFTY View
Nifty opened higher with a gap of around 25 points, soon after the gap up opening profit taking was witnessed and
the index filled the entire opening gap. Thereafter traded between 5850-5880 for most part of the trading session
till this range was breached on the down side, resultant the index fell further to form intraday low at 5819.3 levels.
Failing to revive from these losses, the index closed near the day’s lowest levels at 5833.2. On Friday, FMCG,
Oil&Gas and IT indices performed well while Bankex, Realty and Metal were among the top losers at the BSE
sectorial front.
Nifty has been trading with in a range of 5850-5950, this range has been breached on the down side. On Friday,
Nifty found support on the neckline of the head and shoulder formation on the intraday chart (5800-5820) any
further fall below this range will take the index towards the next support territory (5680-5700) levels.
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Religare Morning Digest
Septamber 30, 2013
Technical Market View
TRENDSHEET - INDEX TREND *
INDEX SPOT Close Trend Trend changed on Trend changed at Closing Stop Loss
NIFTY 6083.15 5833.20 Down Up 23-May-13 05-Sep-13 5967.05 5592.95 6200 5670
BANKNIFTY 12961.55 9899.75 Up 05-Sep-13 16-Apr-13 11871.60 9682.40 12630 9800
CNX-IT 6410.95 8166.55 Up 08-May-13 21-Aug-13 6380.15 8175.30 6050 7885
CNXMIDCAP 7914.80 7052.50 Down Up 23-May-13 10-Sep-13 7802.05 6889.00 8200 6790
Nifty 50 - Trend Sheet *
STOCKS LTP Trend Trend changed on Trend changed at at Closing Stop Loss
ACC 1245.45 1099.55 Up 10-Sep-13 25-Apr-13 1022.55 1255.05 1030 1190
AMBUJACEM 185.6 184.5 Up 16-Apr-13 24-Jul-13 171.6 180.45 178 175
ASIANPAINT 4826.05 469.8 Down Up 10-Sep-13 9-Apr-13 445.8 4531.6 440 5000
AXISBANK 1478.15 1030.9 Up 05-Sep-13 16-Apr-13 927.5 1363.3 1020 1400
BAJAJ-AUTO 1993.15 1818.1 Up 04-Sep-13 23-Apr-13 1888.75 1805 1850 1730
BANKBARODA 682.25 501.25 Down Up 24-Sep-13 25-Apr-13 503.7 708.55 545 680
BHARTIARTL 309.15 325.3 Down Up 06-Sep-13 24-May-13 313.75 298.5 315 332
BHEL 196.95 143.75 Up 23-Aug-13 25-Apr-13 116.1 192.55 130 187
BPCL 377.45 328.6 Down 25-Sep-13 23-May-13 305.5 379.9 340 415
CAIRN 286.15 317.75 Down Up 23-May-13 19-Jul-13 308.05 277.55 310 305
CIPLA 401.5 434.3 Up 28-Jun-13 08-Mar-13 391.95 391.8 400 390
COALINDIA 313.8 306.9 Down Up 05-Sep-13 24-Jan-13 283.4 343.65 285 320
DLF 131.85 215.3 Down 23-Sep-13 22-May-13 141.65 227.15 145 235
DRREDDY 2090.95 2412.2 Up 29-Aug-13 4-Apr-13 2258.45 1889.75 2300 1960
GAIL 324.5 326.3 Down Up 13-Sep-13 23-May-13 313.8 324.3 305 345
GRASIM 2680.55 2991.8 Up 10-Sep-13 25-Apr-13 2449.9 2983.2 2500 2900
HCLTECH 1072.75 741.7 Up 9-May-13 770.15 1000 695
HDFC 929.5 784.2 Up 05-Sep-13 11-Mar-13 750.4 831.65 775 840
HDFCBANK 715.05 608.9 Down Up 25-Sep-13 16-Apr-13 620.6 663.35 660 675
HEROMOTOCO 1654.35 2048.05 Up 23-Apr-13 15-Jul-13 1573.6 1725 1900 1550
HINDALCO 110.6 113.9 Up 12-Aug-13 23-Apr-13 94.05 96.3 108 100
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Religare Morning Digest
Septamber 30, 2013
Technical Market View
STOCKS LTP Trend Trend when changed Rate when trend changed Closing Stop loss
HINDUNILVR 621 Up 10-Sep-13 653.5 620
ICICIBANK 923.3 Down 27-Sep-13 923.3 1000
IDFC 88.85 Down 25-Sep-13 90.05 100
INDUSINDBK 375.65 Down 23-Sep-13 386 415
INFY 3006.6 Up 03-Jun-13 2514.1 2850
ITC 347.9 Up 10-Sep-13 335.9 325
JINDALSTEL 235.95 Up 10-Sep-13 237 235
JPASSOCIAT 36.6 Down 23-Sep-13 37.75 41
KOTAKBANK 682.85 Up 30-Aug-13 690.85 680
LT 815.85 Up 10-Sep-13 807.2 800
LUPIN 853.5 Up 03-Sep-13 840.4 820
M&M 844 Up 11-Sep-13 827.35 800
MARUTI 1366.95 Up 11-Sep-13 1360.8 1330
NMDC 126.75 Up 12-Aug-13 108.75 115
NTPC 147.95 Up 10-Sep-13 138.6 137
ONGC 274.4 Down 24-Sep-13 274.5 301
PNB 477.65 Down 23-Sep-13 483.85 525
POWERGRID 98.95 Up 10-Sep-13 102.25 94
RANBAXY 334 Down 16-Sep-13 359.2 370
RELIANCE 839.9 Up 30-Aug-13 853.85 835
RELINFRA 392.35 Up 06-Sep-13 366 375
SBIN 1640.7 Up 05-Sep-13 1638.15 1600
SESAGOA 182.7 Up 12-Aug-13 135.25 170
SUNPHARMA 589.85 Up 10-Sep-13 549.7 545
TATAMOTORS 340.1 Up 05-Sep-13 318.1 320
TATAPOWER 81.65 Up 13-Sep-13 78.4 76
TATASTEEL 287.4 Up 12-Aug-13 236.55 280
TCS 1948.1 Up 28-Jun-13 1518.15 1900
ULTRACEMCO 1829 Up 06-Sep-13 1601.05 1680
*Refer Annexure to understand this table
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Religare Morning Digest
Septamber 30, 2013
Derivative Market View
Nifty closes negative led by fall in stocks from the banking segment and FMCG like ICICI Bank, HDFC Bank, SBI, ITC and HUL.
Volumes was low but stock specific trend is negative, sector specific Bank Nifty has broken crucial support of 9920, it appears to
be a bearish “Flag” pattern breakout and could lead to 9500 or lower levels.
India VIX closed up by 0.25% to close at 24.06 levels. Nifty futures closed down 59.15 points at 5888.15 with a premium of
49.05 points to the spot closing of 5833.20
Nifty appears to be in a range between 5940 and 5800 but with a negative bias. If breaks below 5800 in cash Nifty will be
negative up to 5688 which is the Strong support due to the Gap.
Nifty would be positive provided 5800 is maintained and crosses above 6040 in that case we can see a target of 6200. However,
bias is negative and looks like down side breakout below 5800 is strongly possible. Nifty fut. resistance for tomorrow is at 5945-
5980 support exists at 5830-5780.
Stocks Futures with Upward Potential
Stocks Futures with Downward Potential
Stocks Price % Change OI
Change
In OI
Stocks Price % Change OI
Change
In OI
BATAINDIA 864.85 4.01 1132 21.2 RELCAP 329.30 -3.83 5344 8.0
ADANIENT 147.75 2.43 6347 1.5 JSWSTEEL 733.75 -2.63 14873 1.9
MCDOWELL-N 2642 5.94 47487 3.7 ORIENTBANK 150.95 -4.46 1998 9.8
F & O Trade / Strategy Recommendation for today
Stock View CMP Strategy
Recommended
Price/ Initiation
Range
Target Price
Stop loss
HAVELLS BULLISH 637.40 BUY OCT. FUT 628-631 655 621
Today’s Derivatives Summary
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22-Aug
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25-Sep
26-Sep
Religare Morning Digest
Septamber 30, 2013
Fundamental Market view
After a dreary trading session; markets edged lower, weakness in European stocks also weighed on
sentiments. Combative comments from the Reserve Bank of India governor Raghuram Rajan on Thursday,
26 September 2013, that inflation continued to remain high also adversely hit the markets. Metals,
Mining, Capital goods, Banking and Realty were the major contributors to this dull day. Bond prices
dropped again.
Daily Trends In FIIs Investments (Rs Crore)
4000
3000
2000
1000
0
-1000
-2000
Corporate News
Mahindra & Mahindra Ltd has announced a price increase ranging from Rs 6,000 to Rs 20,000
covering its passenger and commercial vehicles. The price hike works out to be about 2% across its
product portfolio.
Bajaj Auto plans to increase the prices of its vehicles across segments due to rise in input costs.
Glenmark Pharmaceuticals received a small research fee payment from Forest Laboratories Inc. on
collaboration for the development of novel mPGES-1 inhibitors.
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Religare Morning Digest
Septamber 30, 2013
Annexure
How to Understand the Trend Sheet table
When trend changes to up, one can buy & when trend changes to down one can sell.
Resistance is mentioned for stocks which are in downtrend where one can go short with closing stop loss
as mentioned. Support is mentioned for stocks which are in uptrend where one can go long with closing
stop loss as mentioned.
Closing stop loss has to be seen at closing at 3:30pm. All stocks prices refer to spot price.
In this table of trends, it has been observed that if someone tries to take all levels of a stock or index continuously,
the losses are small but once the market catches a strong trend in either direction, one makes
a huge profit that time.
In our trend sheet,
If we underline only the stock name and closing stop loss then it means we have trailed our closing stop
loss.
If we underline the complete line including all fields Stock’s name, LTP, Trend, Trend changed on, Trend
changed at & closing stop loss, it signifies fresh reversal of the trend.
Note – For our running recommendations and past performance, please click here
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