Momentum Picks 141217

Momentum Picks
New recommendations
MOMENTUM PICK
Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration
14-Dec-17 NIFTY NIFTY Sell 10280-10290 10235.00 10,305.00 Intraday
Gladiator Stocks
14-Dec-17 Sun TV SUNTV Buy 918.00-920.00 928.40/937.50 909.50 Intraday
14-Dec-17 Indo Count INDCOU Sell 111.00-112.00 109.80/108.80 112.50 Intraday
Scrip Action
Wim plast Buy
Vardhaman textile Buy
Open recommendations Symphony Buy
Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration Duration: 6 Months
20-Nov-17 Tata Chemicals TATCHE Buy 725.00-735.00 805.00 695.00 30 Days Click here to know more
29-Nov-17 Brigade Enterprise BRIENT Buy 300.00-308.00 358.00 285.00 30 Days
8-Dec-17 Intrasoft Technologies INTSOF Buy 790.00-800.00 885.00 748.00 15 Days
11-Dec-17 Huhtamaki PPL HUHPPL Buy 350.00-355.00 395.00 320.00 30 Days Stocks on the move
ICICI Securities Retail Equity Research

Intraday recommendations are for current month futures. Positional recommendations are in Cash segment
Scrip Action
Graphite India Buy
Duration: 3 Months
Click here to know more
December 14, 2017
Research Analysts
Dharmesh Shah Nitin Kunte, CMT
dharmesh.shah@icicisecurities.com nitin.kunte@icicisecurities.com
Pabitro Mukherjee Vinayak Parmar

pabitro.mukherjee@icicisecurities.com vinayak.parmar@icicisecurities.com
NSE Nifty (10192)
Technical Outlook NSE Nifty Daily Candlestick Chart Domestic Indices
Domestic markets endured a rather volatile session as nervousness Open High Low Close Indices Close Change Change%
PICK
increased ahead of the Federal Reserve meeting and Gujarat
MOMENTUMPICK
10236.60 10296.55 10169.85 10192.95 S&P BSE Sensex 33378.27 -174.95 -0.53
elections. After advancing 60 points from the opening, the Nifty
slipped to its days low, sliding below 10200 as selling continued Nifty 50 10192.95 -47.20 -0.46
for a second session. Weakness was evident among the broader 10490 Nifty 50 future 10215.20 -49.30 -0.48
MOMENTUM
markets also, with the midcap and small cap indices ending lower 80% @ S&PBSE 500 14399.19 -88.74 -0.61
by 0.96% and 1.24%, respectively. Sectorally, most sectors ended 10411
in the red led by losses in realty, PSU banks, and metals. S&PBSE Midcap 16790.64 -142.66 -0.84
80% @
10335 S&PBSE Smallcap 18323.69 -146.07 -0.81
The price action formed a bearish candle for a second session
characterised by long upper shadow and real body at the lower half SGX Nifty 10276.50 55.00 0.54
of the trading range. The index is currently poised at last Fridays * SGX Nifty at 7:30 am
rising gap (10166). As mentioned yesterday, a pullback towards
10150, which is the 61.8% retracement of the latest rally (10033- Nifty Technical Picture
10329), cannot be ruled out this week as markets are likely to take a
breather until the outcome of the Gujarat election. Having said that, Intraday Short term
with the overall structure of the market still robust, we feel that any
dips in the days ahead should be used as an incremental buying Trend
opportunity. In todays session, we expect the index to take Support 10195-10165 10000
Support around 10000:
support near the 10150 region but do not foresee the index
crossing above 10300 ahead of this weeks Gujarat elections as

Resistance 10250-10290 10400
volatility is likely to remain at an elevated level. - 61.8% retracement
- Equality of preceding fall 20 day EMA 10237
Structurally, the current correction from life-time highs of 10490
bodes well as the index is seen forming a strong base at elevated 200 day EMA 9735
support near the psychologically important 10000 mark. The overall
price structure continues to stay robust as the index has retraced
Stochastic has ventured off the overbought zone while
its 25 session rally off September lows (9687-10490) by less than 9687 Nifty Futures Intraday Strategy
also giving a bearish crossover indicating consolidation
61.8% in the past 26 sessions. In the entire 2017, the index has not
corrected for more than two to three weeks with two weeks of Action Sell
decline already behind us. We expect the index to form a base
around 10100-10000 ahead of the Gujarat election outcome and Price Range 10280-10290
then move higher towards 10600 in coming weeks as it is 123.6%
external retracement of recent decline (10490-10033).
Target 10235
As mentioned in our earlier report, the 10000-10100 region is a
crucial support zone as it is the confluence of the following: Stop loss 10305
Bullish gap area leading to the breakout from three month range
is placed around 10123-10096 region
61.8% retracement of the Oct 2017 rally (9687-10490) is at 9995
Among oscillators, the daily stochastic has given a bearish
crossover below its signal line and has also moved underneath the
overbought region, suggesting that the ongoing temporary
consolidation could continue in the next couple of sessions. Source: Bloomberg, ICICI Direct.com Research
December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 2
Bank Nifty Future (25038)
Technical Outlook Bank Nifty Index Daily Candlestick Chart Nifty Bank Futures
Bank Nifty futures attracted selling pressure for a second session, Open High Low Close Indices Close Change change%
MOMENTUM PICK
as a surge in retail inflation reduced expectations of a rate cut from 25140.00 25348.00 24962.10 25038.20
the RBI, in turn dragging interest rate sensitive stocks lower. Nifty Bank 25038.20 -140.00 -0.56
26200
Caution also prevailed ahead of the outcome of the highly
anticipated Gujarat election on December 18, 2017. For the day,
near month Bank Nifty futures fell 0.56% or 140 points to end at
25038.
Nifty Bank Technical Picture
The Bank Nifty opened the session marginally lower before
recouping its losses and advancing to a fresh intraday high of Intraday Short term
25348. However, the index came under sharp selling pressure in Trend
the second half of the session as it slipped to its days low of 24962.
The index closed off the days low at 25038, down 0.55%. The 25260 Support 25030-24900 24800
decline on Wednesday was broad based as nine of the 12 index
constituents ended in the red. PSU banking stocks witnessed profit Resistance 25190-25350 26200
booking and ended down 1.8% whereas the private bank index 24885 20 day EMA 25342
ended down 0.4%.
200 day EMA 23582
The price action formed a second consecutive bearish candle,
which maintained a lower high and lower low compared to

previous session indicating continuance of the corrective trend.
The index is currently placed near the major support area of 24800-
25000 ahead of the outcome of the Gujarat election. We feel the Nifty Bank vs. Nifty
index could consolidate in the next few sessions in the range of
25000-25800. Last weeks low of 24886 is likely to act as major 23886
support in the short-term. On the upside, major resistance is at
25800 as it is 61.8% retracement of recent decline (26200-24886). The daily stochastic reacted from the overbought
23609 territory and is currently placed at a reading of 53 10200 25100
The overall structure in the index remains positive. As long as the 23900
index is sustaining above 24800-25000, declines can be used as a 9700
incremental buying opportunity for up move towards 26200 in the 22700
short-term.
9200 21500
As already mentioned, the short-term support is placed near 24800-
9-Nov
18-Sep
27-Nov
14-Dec
5-Oct
24-Oct
26-Jul
11-Aug
31-Aug
25000 as it is the confluence of the following technical observation:
Key trend line connecting December 2016 and September 2017
lows placed at 25100
Bank Nifty (RHS) NSE (LHS)
The upper band of the falling channel containing the entire
decline of the last three months placed around 24900
The previous week low placed at 24886 levels
Among oscillators, the daily stochastic reacted lower from the
overbought territory and is currently placed at a reading of 53
indicating consolidation likely in the coming sessions Source: Bloomberg, ICICI Direct.com Research
Stock Picks
Duration: Intraday
Sun TV (SUNTV) Daily Candlestick Chart

Technical Observations
Price rebound after consolidation at recent breakout area signaling CMP 917.65
MOMENTUM PICK
further upsides in coming sessions
Action Buy
Price rebound after

consolidation at recent
Rationale
breakout area & RSI in rising
trajectory
14 period RSI rising trajectory suggest bullish bias Initiation

918.00-920.00
Range
Target 928.40/937.50
Stop Loss 909.50
Indo Count (INDCOU) Daily Candlestick Chart

Technical Observations
Bearish flag breakdown signaling further downward CMP 110.30
momentum in coming session
Action Sell
Bearish flag breakdown &

Rationale bearish crossover in
stochastics
Stochastics (5,3,S,3) generated bearish crossover suggest negative bias Initiation

111.00-112.00
Range
Target 109.80/108.80
Stop Loss 112.50
Source: Bloomberg, ICICI Direct.com Research

Stock Picks
Duration: 30 days
Buy Huhtamaki PPL (HUHPPL) in the range of 350.00-355.00 Target: 395.00 Stop Loss: 320.00 Technical Observations
161.8% external retracement @ 400 PaperProd has broken out of an 30
MOMENTUM PICK
months consolidation range of
Breakout of a 30 months consolidation range along with pickup in volume 331 and 201 during current month
suggests at continuation of up trend 331 325 trade. The breakout coming in the
form of three advancing soldiers
candle pattern on monthly chart.
After registering a six-fold gain
201 between 2013 and 2015, the stock
entered a period of consolidation
56 over the next two years. Over the
last few months, the consolidation
has been accompanied by
expanding volume. The faster
retracement of the preceding 15
Weekly RSI has given a bullish crossover month decline in just three
months signals robust price
structure.
We feel the stock is likely to
continue heading higher and

advance towards | 400 levels,
Target: 358.00 Stop Loss: 285.00 being the 161.8% external
retracement of the preceding
corrective decline (| 326-201)
Recommendation initiated on i-click to
gain at 9:52 on December 11, 2017

Stock Picks
Duration: 15 days
Buy Intrasoft Technologies (INTSOF) in the range of 790.00-800.00 Target: 885.00 Stop Loss: 748.00 Technical Observations
Bullish Flag breakout with strong volume signals continuation 161.8% external retracement @ 885 The stock has given a bullish Flag
MOMENTUM PICK
of the uptrend in the short term 832 breakout in the daily chart with
strong volume signalling larger
participation in the direction of the
750 trend and offers fresh entry
684
opportunity.
The stock is in a strong uptrend
585
forming higher peak and higher
trough on all time frame and has
recently given a narrow
consolidation breakout thus
supports the positive price
structure in the stock.
Weekly MACD is in strong uptrend We feel stock is likely to continue
with its current up move and head
towards | 885 levels being the
161.8% external retracement of
the recent corrective decline (|
832-750)

Target: 358.00 Stop Loss: 285.00 Recommendation initiated on i-click to
gain at 10:01 on December 8, 2017

Stock Picks
Duration: 30 days
Buy Brigade Enterprises (BRIENT) in the range of 300.00-308.00 Target:

Target: 358.00
805.00 Stop
Stop Loss:
Loss: 285.00
695.00 Technical Observations
Measuring implication of The stock has recently registered a
Breakout from consolidation pattern signals resumption range breakout @ 360
MOMENTUM PICK
breakout above the five months
of prior up move consolidation thus offering fresh
entry opportunity to ride the next
300 up move in the stock
The share price of Brigade
Enterprises has seen a strong rally
240 during November 2016 to June
2017 rallying from | 140 to | 300.
Since then, the stock has been
consolidating in a narrow 60
Weekly MACD has given a bullish crossover points range for the last five
140
months signalling a positive price
structure
We expect the stock to head
towards 360 in the coming month
being the measuring implication of
the breakout from the last five
months consolidation (| 300-

240=60 points) added to the
Target: 51.50 Stop Loss:41.70 breakout area of | 300 projects
upside towards | 360
gain at 10:37 on November 29, 2017

Stock Picks
Duration: 30 days
Buy Tata Chemicals (TATCHE) in the range of 725.00-735.00 Target: 805.00 Stop Loss: 695.00 Technical Observations
Tata Chemicals has resumed up
MOMENTUM PICK
Change of Polarity as previous trendline resistance is acting as support. A strong up 765 move after consolidation above
move above previous week high offers fresh entry opportunity the recent trend line breakout area
666 signalling a Change of Polarity as
702 previous trend line resistance is
acting as support
526
The stock after three weeks of
profit booking, which has been
52 Weeks EMA characterized by shallow
correction has broken above prior
weeks high indicating resumption
of up move and offers fresh entry
opportunity. The lower band of
recent consolidation placed at |
702 levels is likely to act as
MACD in uptrend in the weekly chart support in short term
We expect the stock to head
towards | 805 levels over the
coming month being the 161.8%

external retracement of recent
Target: 51.50 Stop Loss:41.70 decline (| 765-702)

gain at 14:57 on November 20, 2017

Market Activity Report
Global Currency, Commodities and Bold Yield performance Global Equity Market Performance
1 Day % 5 Day % 1 Month % 3 Months %
Value -0.5
MOMENTUM PICK
Brazil -1.2
Change Change Change Change
France -0.5 0.5
Currency
Germany -0.4 1.0
USD INR 64.44 -0.06 0.12 1.53 -0.69 Japan 1.0
-0.1
China 1.1
EURO USD 1.18 0.15 0.60 0.39 -0.63 0.2
India 1.4
-0.5
GBP USD 1.34 0.01 -0.39 1.95 0.17 US 1.8
0.3
UK 2.0
-0.1
JPY 112.59 -0.04 0.44 0.77 -2.09 3.3
Hong Kong 0.0
Swiss Franc 0.98 0.09 1.01 0.49 -2.16 -2.0 -1.0 0.0 1.0 2.0 3.0 4.0
% Change
Dollar Index 93.37 -0.06 -0.45 -0.48 1.35 5 Day Change 1 Day Change
Commodities

Advance Decline
Gold 1,258.7 0.26 0.92 -1.68 -5.34
13-Dec-17
Brent 62.8 0.59 0.98 0.96 13.23 2000
1500
Copper 6,691.8 0.98 2.67 -2.46 2.77 5-Dec-17 12-Dec-17
1000
Silver 16.1 0.28 2.47 -5.33 -9.44 500
Advances
Yield (%) bps Change 0
Declines
6-Dec-17 11-Dec-17
India 10 Year Bond 7.2 -2.83 12.76 12.09 58.23
US 2.4 1.25 -0.88 -1.71 16.99

7-Dec-17 8-Dec-17
EURO 0.3 0.01 1.78 -8.36 -9.91
Japan 0.0 -0.10 -0.60 -0.10 0.90


Market Activity Report
Sectoral Indices Performance Fund Flow activity
1 Day % 5 Day % 1 Month % 3 Months %
Index Value
MOMENTUM PICK
Change Change Change Change FII
Sensex 33,053 -0.53 1.40 0.34 2.52 65,000
Nifty 10,193 -0.46 1.48 0.06 1.05 60,000

55,109
1,251
55,000 532 3,838
BSE Auto 25,122 -0.65 2.16 1.00 2.76
Rs Crore
50,000 359 579 48,550
Bankex 28,272 -0.66 0.57 -1.51 0.70
45,000
Capital Goods 18,120 -1.11 0.53 -0.36 -0.57 40,000
Consumer
21,788 -0.34 3.46 7.37 20.33 35,000
Durables Year till 7-Dec 8-Dec 11-Dec 12-Dec 13-Dec Year Till
FMCG 10,446 -0.68 2.14 2.13 2.78 06 Dec Date

Healthcare 13,889 -1.01 0.86 1.18 0.72
DII
IT 10,861 -0.25 1.20 1.59 8.97
91,000
Metal 13,450 -1.68 0.87 -5.78 -3.49 89,000 1,243 109 854
116 87,022
927
87,000 85,714
Oil & Gas 16,072 0.50 2.64 2.57 5.83 85,000
Rs Crore
83,000
Power 2,256 -0.80 0.96 -0.20 -2.31 81,000
79,000
Realty 2,333 -2.27 -1.30 1.87 6.00
77,000
BSE 500 14,399 -0.61 1.28 0.49 2.30 75,000
Year till 7-Dec 8-Dec 11-Dec 12-Dec 13-Dec Year Till
BSE Midcap 06 Dec Date
16,791 -0.84 0.77 1.79 4.83
Index
BSE Small Cap 17,982 -0.81 1.02 2.52 8.16

Trend Scanner
Heat Map Positive Trend Universe: NSE 500 Overbought Stocks
402.2 506.3 Kotak 1,014.9 4,274.4 Bharti 357.7 % 10-Day Delivery Scrip Name LTP Stochastic
IOC BPCL Ultratech
MOMENTUM PICK
1.8% 1.5% Bank 1.4% 1.2% Infratel 0.6% Scrip Name Close Change SMA ( %) Maruti 9130 90
2,628.4 Tech 503.6 Eicher 28,721.3 183.9 Dr 2,260.7 Cholamandalam Investment and Finance
1292.10
Co 1.27 1288.99 73.09 KPIT 170 84.5
TCS ONGC
0.6% Mah 0.5% Motors 0.4% 0.3% Reddy 0.2% Prism Cement Ltd 114.65 2.37 112.79 91.22 PC jeweller 440 84.05
176.1 HDFC 1,821.4 1,315.1 491.8 Asian 1,116.6
NTPC HUL GAIL WABCO India Ltd 7073.70 1.93 7066.07 94.71
0.1% Bank 0.1% 0.0% 0.0% Paints -0.1%
Hindustan Unilever Ltd 1315.05 0.03 1290.05 71.40 Oversold Stocks
Coal 263.2 914.7 9,120.7 Indusind 1,647.4 845.3
RIL Maruti Lupin
India -0.1% -0.1% -0.1% Bank -0.2% -0.2% Scrip Name LTP Stochastic
287.2 1,706.0 Tata 90.3 567.1 19,864.8 Hexaware 318 14.13
Wipro ACC Zee Ent Bosch
-0.2% -0.2% power -0.3% -0.3% -0.4% Union Bank 148 13.28
Negative Trend Universe: NSE 500
Ambuja 264.1 Bajaj 3,151.3 1,412.5 Axis 535.8 Hero 3,419.5 Hero Motocorp 3247 16.18
M&M % 10-day Delivery
Cement -0.5% Auto -0.5% -0.5% Bank -0.5% Moto -0.6%
India Scrip Name Close Change SMA (%)
1,003.8 1,181.1 Sun 516.9 HDFC 1,696.7 259.0
Infosys Bulls ITC Ambuja Cements Ltd 264.10 -0.45 264.18 57.34 52 Weeks High
-0.7% -0.8% Pharma -0.8% Ltd -0.8% -1.0%
Hsg Fin Gujarat Pipavav Port Ltd 138.15 -2.13 139.80 56.84
HCL 866.4 Bank of 163.8 1,189.3 Power 200.5 Tata 402.0 Scrip Name LTP

L&T MOIL Ltd 224.75 -1.86 227.94 59.70
Tech -1.0% Baroda -1.1% -1.1% Grid -1.2% Motors -1.2% Balkrishna Industries 2447.0
Power Grid Corp of India Ltd 200.50 -1.18 202.54 75.28
Bharti 517.4 Tata 680.9 Auro 669.2 234.5 ICICI 303.0 GAIL 492.0
Hindalco
Airtel -1.2% Steel -1.3% Pharma -1.3% -1.5% Bank -1.5%
Hindustan unilever 1316.0
Yes 301.9 313.3 Adani 394.0 578.2 Vedanta 283.6
SBI Cipla Titan 818.0
Bank -1.6% -1.6% Ports -2.1% -2.3% Ltd -3.3%
TNPL 435.0
Bullish Candlestick Pattern Bearish Candlestick Pattern
Bullish Candlestick Formations Bearish Candlestick Formations 52 Weeks Low
Scrip Name Pattern name LTP Scrip Name Pattern name LTP Scrip Name LTP
Fag Bearing Hammer 5088.9 Century Textile Engulfing 1326.6 IDFC Bank 52.4
Heidelberg Engulfing 156.1 Zee learn Engulfing 43.3
IOC Piercing line 402.2 Indo count Continuation 110.0
JK Cement Engulfing 1056.7 Canara Bank Continuation 355.0
Oberoi Realty Hammer 452.0
Balkrishna Industries Continuation 2441.0

Supports and Resistance ( Cash Levels)
SCRIP Close S1 S2 S3 R1 R2 R3 Trend
Nifty 50 10192.95 10143 10093 10017 10270 10347 10397 Negative
S&P BSE SENSEX INDEX 33053.04 32894 32734 32478 33309 33564 33725 Negative
MOMENTUM PICK
Nifty Bank 25000.35 24869 24738 24537 25201 25402 25534 Negative
Nifty 50 Futures 10227 10167 10107 10025 10310 10393 10453 Negative
Nifty Bank Futures 25048.45 24892 24734 24506 25278 25506 25664 Negative
ACC LTD 1706 1689 1673 1650 1728 1751 1767 Negative
AMBUJA CEMENTS 264.1 262 259 255 269 273 276 Neutral
ADANI POWER LTD 34.1 34 33 32 36 37 38 Neutral
ADANI ENTERPRISE 147.5 145 142 137 152 156 159 Negative
ADANI PORTS AND 394 390 386 379 400 406 410 Neutral
AJANTA PHARMA 1419.8 1399 1378 1344 1455 1488 1510 Negative
ASHOK LEYLAND 114.05 113 112 111 115 116 118 Negative
ALLAHABAD BANK 71.75 70 69 66 73 75 76 Negative
AMARA RAJA BATT 778.5 768 758 750 785 792 802 Neutral
ANDHRA BANK 59.6 59 58 57 61 62 63 Negative

APOLLO HOSPITALS 1180.05 1171 1163 1152 1190 1201 1209 Negative
ASIAN PAINTS LTD 1115.9 1105 1094 1077 1132 1149 1160 Positive
APOLLO TYRES LTD 245.55 243 240 238 248 250 254 Negative
AUROBINDO PHARMA 669.15 660 652 639 681 694 702 Negative
ARVIND LTD 425.55 419 414 404 434 444 449 Negative
AXIS BANK LTD 535.75 531 527 521 541 547 551 Negative
BAJAJ FINANCE LT 1671.8 1655 1638 1616 1695 1718 1735 Negative
BATA INDIA LTD 718.95 712 705 698 725 731 738 Negative
BEML LTD 1500.3 1472 1444 1396 1548 1596 1624 Negative
BHARAT FINANCIAL 988.35 975 960 948 1001 1012 1027 Negative
BHARTI AIRTEL 517.35 511 503 492 530 541 549 Negative
BHARAT ELECTRON 180.65 179 178 176 182 184 186 Negative
BHARAT HEAVY ELE 89.6 88 87 85 91 93 94 Negative
BHARAT FORGE CO 685.65 678 670 659 697 708 716 Negative
BHARTI INFRATEL 357.7 355 351 347 363 367 371 Neutral

BALKRISHNA INDS 1705.75 1683 1660 1639 1727 1748 1771 Positive
BIOCON LTD 332.15 328 326 322 335 338 341 Neutral
MOMENTUM PICK
BAJAJ AUTO LTD 3109.4 3061 3013 2974 3149 3187 3236 Positive
BAJAJ FINSERV LT 5154.45 5062 4971 4879 5245 5337 5429 Positive
BANK OF BARODA 137.6 135 134 132 139 142 143 Neutral
BANK OF INDIA 137.55 136 135 133 139 141 142 Neutral
BOSCH LTD 20545.1 20370 20194 19938 20802 21058 21234 Negative
BHARAT PETROL 471.3 464 456 450 478 484 492 Positive
BALRAMPUR CHINI 160.9 158 156 155 162 164 166 Neutral
BERGER PAINTS 245.1 239 234 230 248 252 257 Neutral
BRITANNIA INDS 4344.25 4326 4309 4294 4358 4373 4390 Neutral
CAPITAL FIRST LT 667.8 662 656 647 677 686 692 Negative
CAN FIN HOMES 463.65 458 454 447 469 476 481 Negative
CANARA BANK 354.85 349 342 333 365 374 381 Negative
CONTAINER CORP 1295.7 1288 1281 1274 1301 1307 1314 Negative

CADILA HEALTHCAR 406.35 401 398 390 413 420 424 Negative
CEAT LTD 1721.8 1709 1696 1679 1740 1758 1770 Negative
CENTURY TEXTILE 1326.6 1292 1258 1207 1377 1428 1461 Negative
CESC LTD 1013.65 999 984 973 1025 1036 1050 Neutral
CG POWER AND IND 85.7 84 83 81 87 89 90 Neutral
CHOLAMANDALAM IN 1292.1 1268 1244 1228 1309 1324 1349 Neutral
CIPLA LTD 578.15 570 562 548 592 606 613 Negative
COLGATE PALMOLIV 1050.7 1041 1032 1017 1065 1080 1089 Negative
COAL INDIA LTD 263.15 261 259 257 265 267 269 Negative
CASTROL INDIA 406.25 402 399 393 411 417 420 Positive
DABUR INDIA LTD 345.75 343 340 336 350 354 357 Neutral
DALMIA BHARAT LT 3147.05 3111 3075 3028 3195 3241 3278 Negative
DCB BANK LTD 182.5 180 177 173 187 191 194 Negative
DEWAN HOUSING 576.25 569 561 550 588 599 607 Negative
DISH TV INDIA 79.7 77 75 72 81 85 86 Neutral

DIVI LABS LTD 1045 1032 1018 999 1065 1084 1097 Negative
DLF LTD 227.8 224 220 213 234 241 245 Negative
MOMENTUM PICK
DR REDDY'S LABS 2260.7 2247 2233 2212 2281 2301 2315 Neutral
EICHER MOTORS 28721.25 28320 27920 27542 29098 29476 29876 Negative
ENGINEERS INDIA 185.9 184 180 176 191 196 199 Negative
EQUITAS HOLDINGS 136.65 135 134 132 138 140 141 Negative
ESCORTS LTD 669.3 662 653 642 681 691 700 Negative
EXIDE INDUS LTD 204.55 203 201 199 206 209 210 Neutral
FED BANK LTD 105 104 102 101 108 110 111 Negative
FORTIS HEALTHCAR 130.5 129 127 126 133 135 136 Neutral
GAIL INDIA LTD 491.8 485 478 469 502 510 518 Positive
GODREJ CONSUMER 991.65 974 955 933 1014 1037 1055 Negative
GODREJ INDUSTRIE 586.1 583 578 572 593 598 603 Negative
GMR INFRASTRUCTU 17.05 17 17 16 17 17 18 Negative
GLENMARK PHARMA 532.15 529 524 516 541 548 553 Negative

GODFREY PHILLIPS 976.4 965 952 938 992 1006 1019 Negative
GRANULES INDIA 128.35 126 125 122 130 133 134 Negative
GRASIM INDS LTD 1118.65 1102 1087 1066 1138 1159 1175 Neutral
GUJARAT STATE F 136 134 132 130 139 142 143 Negative
HAVELLS INDIA 535.15 529 524 516 543 552 557 Negative
HINDUSTAN CONST 35.5 35 34 34 37 38 38 Negative
HCL TECH LTD 866.35 862 858 852 873 879 883 Negative
HOUSING DEV FIN 1696.7 1685 1673 1657 1714 1729 1742 Neutral
HDFC BANK LTD 1821.35 1809 1797 1779 1839 1857 1869 Negative
HOUSING DEVELOPM 52.65 51 50 48 54 56 57 Negative
HEXAWARE TECHNOL 320.25 314 309 300 328 337 342 Negative
HERO MOTOCORP LT 3419.45 3390 3360 3309 3470 3520 3550 Negative
HINDALCO INDS 234.45 232 230 226 238 242 245 Negative
HINDUSTAN PETRO 423.35 417 410 404 429 434 441 Neutral
HINDUSTAN UNILEV 1315.05 1301 1288 1270 1332 1350 1363 Neutral

Scrip Name Close S1 S2 S3 R1 R2 R3 Trend
HINDUSTAN ZINC 288.8 285 283 278 292 297 299 Negative
INDIABULLS REAL 200.35 198 195 192 205 209 211 Negative
MOMENTUM PICK
INDIA CEMENTS 168.45 166 163 158 173 177 180 Neutral
ICICI BANK LTD 302.95 300 296 291 308 312 316 Negative
INDO COUNT INDS 110 107 105 102 113 117 119 Negative
IDBI BANK LTD 58.85 58 57 56 60 61 62 Negative
IDEA CELLULAR 92.8 91 90 88 94 96 97 Negative
IDFC LTD 57.8 57 57 56 59 60 60 Negative
IDFC BANK LTD 52.35 53 52 51 54 54 55 Negative
IFCI LTD 23.35 22 23 22 23 23 23 Negative
INDRAPRASTHA GAS 322.1 318 315 311 326 331 334 Negative
INDIABULLS HOUSI 1181.05 1169 1158 1140 1198 1216 1227 Neutral
INDUSIND BANK 1647.4 1638 1629 1618 1658 1669 1679 Negative
INDIAN BANK 374.05 369 365 359 379 385 389 Negative
INTERGLOBE AVIAT 1135.55 1127 1119 1103 1150 1165 1173 Negative

INFIBEAM INCORPO 160.9 161 159 157 164 165 167 Negative
INFOSYS LTD 1003.75 995 986 974 1016 1028 1038 Neutral
INDIAN OIL CORP 402.2 396 389 384 407 411 418 Neutral
ICICI PRUDENTIAL 374.2 370 366 360 379 384 388 Neutral
IRB INFRASTRUCTU 195.15 191 187 181 201 207 210 Negative
ITC LTD 259 258 255 253 262 265 267 Negative
JET AIRWAYS IND 677.6 672 665 657 688 697 703 Positive
JAIN IRRIGATION 112 110 109 106 115 117 119 Negative
JAIPRAKASH ASSOC 18.05 18 17 17 18 19 19 Positive
JINDAL STEEL & P 161.1 159 157 154 164 167 169 Negative
JSW STEEL LTD 244 239 233 226 252 259 265 Negative
JSW ENERGY LTD 79.85 79 79 78 81 81 82 Negative
JUBILANT FOODWOR 1701.45 1684 1667 1641 1727 1753 1771 Positive
JUST DIAL LTD 505.45 498 492 481 516 526 533 Negative
KARNATAKA BANK 145.4 143 141 137 150 153 156 Negative

KAJARIA CERAMICS 693 686 679 671 701 709 716 Negative
CUMMINS INDIA 846.3 838 829 822 854 861 870 Negative
MOMENTUM PICK
KOTAK MAHINDRA 1014.9 997 978 963 1031 1046 1065 Neutral
KPIT TECHNOLOGIE 170.1 168 166 163 174 176 179 Neutral
KAVERI SEED 528.65 520 511 499 541 553 562 Negative
LIC HOUSING FIN 544.35 537 530 518 555 566 573 Negative
LUPIN LTD 845.25 838 832 823 853 862 868 Positive
LARSEN & TOUBRO 1189.25 1180 1170 1155 1205 1220 1230 Negative
L&T FINANCE HOLD 163.45 162 161 158 165 168 169 Negative
MAHANAGAR GAS LT 1110.7 1096 1081 1061 1130 1149 1164 Negative
MAX FINANCIAL SE 555.05 549 543 535 564 571 578 Neutral
MCX INDIA LTD 988.15 970 953 938 1001 1015 1032 Positive
MANAPPURAM FINAN 99.4 98 97 95 101 103 105 Negative
MAHINDRA & MAHIN 1412.5 1404 1396 1382 1426 1440 1448 Neutral
M&M FIN SERVICES 453.4 447 441 431 462 471 477 Negative

MARICO LTD 307.95 306 303 300 311 314 317 Negative
MRF LTD 66072.63 65611 65148 64406 66816 67558 68021 Negative
CHENNAI PETROLEU 418.15 413 408 401 425 432 437 Positive
MANGALORE REFINE 124.1 120 116 113 127 130 134 Neutral
MARUTI SUZUKI IN 9120.65 9072 9023 8971 9173 9225 9274 Negative
MOTHERSON SUMI 368.4 363 358 350 376 384 389 Negative
MINDTREE LTD 564.2 559 553 546 572 579 585 Positive
MUTHOOT FINANCE 413 404 396 383 425 438 446 Negative
NATIONAL ALUMIN 75.35 74 73 72 77 79 80 Negative
NBCC INDIA LTD 246.05 243 240 236 251 256 259 Negative
NESTLE INDIA LTD 7900 7847 7793 7735 7959 8017 8071 Positive
NHPC LTD 28.7 29 29 29 30 29 30 Negative
NIIT TECH LTD 611.5 603 593 575 630 647 657 Negative
NCC LTD 118.8 118 116 113 122 124 126 Negative
NMDC LTD 128.6 127 126 124 130 132 134 Negative

NTPC LTD 176.05 175 174 173 177 178 178 Neutral
ORIENTAL BANK OF 118.45 116 114 110 121 124 126 Negative
MOMENTUM PICK
ORACLE FINANCIAL 3859.75 3823 3785 3759 3887 3913 3951 Neutral
OIL INDIA LTD 356.35 354 350 348 360 362 366 Neutral
OIL & NATURAL GA 183.9 183 181 179 187 189 191 Positive
PAGE INDUSTRIES 22279.2 22016 21754 21291 22741 23204 23466 Negative
PC JEWELLER LTD 440.85 436 430 423 449 456 462 Neutral
PIDILITE INDS 875.35 855 836 805 905 936 955 Neutral
PIRAMAL ENTERPRI 2726.45 2685 2643 2567 2803 2879 2922 Negative
PETRONET LNG LTD 244.95 241 239 233 250 255 258 Negative
PUNJAB NATL BANK 167.8 164 162 157 172 176 179 Negative
POWER FINANCE 115.25 115 114 113 117 118 119 Negative
PTC INDIA LTD 111.4 110 109 107 113 115 116 Negative
PVR LTD 1302.1 1290 1277 1262 1318 1333 1346 Neutral
POWER GRID CORP 200.5 200 198 197 202 204 205 Negative

RBL BANK LTD 508.5 506 503 501 512 515 517 Negative
RELIANCE CAPITAL 416.25 412 407 400 424 431 436 Negative
RELIANCE COMMUNI 11.3 10 10 10 11 12 11 Negative
REC LIMITED 145.75 145 143 142 147 149 150 Negative
RELIANCE INFRAST 450.35 446 442 436 457 462 467 Neutral
REPCO HOME FINAN 640.25 631 623 614 648 657 665 Negative
RELIANCE INDS 914.65 909 903 895 923 931 938 Neutral
RELIANCE POWER 36.1 35 35 34 36 37 37 Negative
RAYMOND LTD 972.4 957 941 920 993 1013 1029 Positive
STEEL AUTHORITY 78.45 77 76 74 80 82 83 Negative
STATE BANK IND 313.3 309 306 301 317 322 325 Negative
SHRIRAM TRANSPRT 1370.8 1345 1318 1288 1402 1432 1459 Neutral
SOUTH INDIAN BK 31.1 30 30 29 31 32 32 Negative
SIEMENS LTD 1144.1 1130 1116 1096 1164 1184 1197 Negative
SYNDICATE BANK 83.3 82 81 79 85 87 89 Negative

SHREE CEMENT 17716 16984 16252 15554 18414 19112 19844 Neutral
SREI INFRASTRUCT 96.15 94 93 89 98 102 103 Negative
MOMENTUM PICK
SRF LTD 1808.45 1782 1756 1711 1853 1898 1924 Negative
STRIDES SHASUN L 799.5 793 788 780 806 814 819 Negative
SUZLON ENERGY 13.6 14 14 14 14 14 15 Negative
SUN PHARMA INDU 516.85 514 509 503 525 531 535 Negative
SUN TV NETWORK 916.25 889 862 838 940 964 991 Positive
TATA STEEL LTD 680.85 673 666 656 690 700 707 Negative
TATA COMMUNICATI 696.4 688 679 666 710 723 732 Negative
TATA CONSULTANCY 2628.4 2603 2577 2552 2653 2677 2703 Negative
TECH MAHINDRA LT 503.6 498 493 489 508 513 517 Positive
TATA ELXSI LTD 919.55 909 898 881 938 955 966 Negative
TATA GLOBAL BEVE 284.45 280 276 269 290 296 300 Negative
TORRENT POWER LT 257.65 253 248 241 265 272 277 Negative
TATA POWER CO 90.25 90 89 89 92 93 94 Negative

RAMCO CEMENT/THE 700 693 684 673 712 724 732 Neutral
TORRENT PHARMA 1322 1313 1303 1287 1339 1355 1365 Negative
TITAN CO LTD 818.95 806 793 773 838 857 871 Neutral
TATA CHEMICALS 711.3 702 691 675 729 745 755 Negative
TATA MOTORS LTD 401.95 398 394 388 408 414 418 Negative
TV18 BROADCAST L 53.7 52 51 49 55 57 58 Negative
TVS MOTOR CO LTD 745.8 740 734 724 756 766 772 Negative
UNITED BREWERIES 1025 1009 993 969 1048 1072 1088 Neutral
UJJIVAN FINANCIA 361.45 355 349 339 371 381 387 Negative
UNION BANK INDIA 147.4 144 141 138 151 155 157 Negative
UNITED SPIRITS 3355.75 3319 3283 3226 3412 3469 3505 Negative
UPL LTD 726.05 715 705 690 740 755 765 Negative
ULTRATECH CEMENT 4274.35 4187 4101 4020 4354 4435 4522 Positive
VEDANTA LTD 283.55 279 274 267 291 298 303 Negative
V-GUARD IND LTD 230.25 226 224 218 235 240 243 Neutral

VOLTAS LTD 619.6 613 605 595 631 641 649 Negative
WOCKHARDT LTD 721.15 708 696 677 740 760 772 Negative
MOMENTUM PICK
WIPRO LTD 287.2 285 283 280 289 291 293 Neutral
YES BANK LTD 301.9 299 297 292 305 309 311 Negative
ZEE ENTERTAINMEN 567.05 560 554 545 575 584 591 Neutral

Forthcoming Economic Event Calendar
Date Event Date Event

US China
MOMENTUM PICK
15-Dec Industrial Production MoM 14-Dec Retail Sales YoY
15-Dec Manufacturing (SIC) Production 14-Dec Industrial Production YoY
16-Dec Net Long-term TIC Flows 18-Dec China November Property Prices
19-Dec Housing Starts MoM 18-Dec FX Net Settlement - Clients CNY
20-Dec Existing Home Sales MoM 27-Dec Industrial Profits YoY
21-Dec GDP Annualized QoQ UK
21-Dec Initial Jobless Claims 14-Dec Retail Sales Ex Auto Fuel MoM
India 14-Dec Bank of England Bank Rate
14-Dec Wholesale Prices YoY 18-Dec Rightmove House Prices MoM
25-Dec Eight Infrastructure Industries 21-Dec GfK Consumer Confidence
29-Dec Fiscal Deficit INR Crore 21-Dec Public Finances (PSNCR)

Momentum Picks: Strategy Follow up
Duration: Intraday *
Idirect Gain/Loss
MOMENTUM PICK
Date Scrip Code Strategy Recommended Price Targets SL % Comment
13-Dec NIFTY NIFTY Sell 10295-10305 10254.00 10322.00 (22 Points) Stoploss triggered
13-Dec GAIL GAIL Buy 489.50-490.50 494.40/498.80 485.70 - No Trade
13-Dec Canfin Home CANHOM Sell 468.50-469.50 464.60/460.10 473.20 -0.9 Stoploss triggered
Duration: 15 Days
Gain/Loss
Date Scrip Product Strategy Recommended Price Target SL % Comment
5-Dec Action construction ACTCON Buy 138.00 154.00 126.00 6.0 Booked 50% profit at 145.50
Duration: 30 Days
Gain/Loss
Date Scrip Product Strategy Recommended Price Target SL % Comment

2-Nov Tata Elxsi TATELX Buy 862.00 978.00 805.00 7.0 Booked 50% profit at 918.00
5-Dec Kesoram Industries KESIND Buy 146.00 163.00 132.00 5.0 Booked 50% profit at 152.80
7-Dec KEC International KECINT Buy 330.00 368.00 305.00 6.0 Booked 50% profit at 348.00

Gladiator Stocks: Open Recommendations
Date Stock Strategy Recommendation Price Target Stoploss Time Frame
MOMENTUM PICK
13-Jul-17 ABB India Buy 1445-1480 1,720.00 1320.00 6 month
19-Sep-17 Asian Granito Buy 490.00 615.00 430.00 6 month
25-Oct-17 JK Lakshmi Cement Buy 420-430 490.00 380.00 6 month
1-Nov-17 Oberoi Realty Buy 475-490 590.00 417.00 6 month
3-Nov-17 Symphony Buy 1555-1590 1,920.00 1390.00 6 month
9-Nov-17 Vardhman Textile Buy 1230-1260 1,465.00 1128.00 6 month
30-Nov-17 Wim plast Buy 1330-1360 1,595.00 1220.00 6 month
All the recommendations are in Cash segment

Back to Top

Stocks on the Move: Open Recommendations
Date Stock Strategy Recommendation Price Target Stoploss Time Frame Remark
MOMENTUM PICK
30-Oct-17 Graphite India Buy 450-458 735.00 595.00 3 month Revised Target to 735 and trail stoploss to 595
All the recommendations are in Cash segment

Back to Top

Notes......
In case of intraday recommendations, execute the trade (in stocks) within +/- 0.25% of the recommended range provided in the
report. The recommendation has to be executed after the first 5 minutes of trade and only upto 11:00 am
MOMENTUM PICK
In case of positional recommendations, execute the recommendations in the range provided in the report
Once the recommendation is executed, it is advisable to maintain strict stop loss as provided in the report. Applicable to all products
We adapt a trading strategy of booking 50% profit when the position is in profit by 4-5% and trail stop loss on remaining position to
the entry point
If the recommended stock hits the target price before getting activated, then it is considered not initiated
The Intra day recommendations are valid only for the day and should be squared off by 15:10 hrs. The positional recommendations
are valid only for the prescribed period and are to be squared off at the end of mentioned period unless communicated otherwise
through separate mail or on i-click to gain page
Only stocks in derivatives segment have been considered for intra day recommendations
Medium to long-term prospects of a stock does not have any bearing on the intra day 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 Pick product carries 2 to 4 intraday recommendations. It is advisable to allocate equal amount to each
recommendation

Recommended product wise allocation
Allocations
Product Product wise Max allocation
Number of Calls Return Objective Duration
MOMENTUM PICK
allocation In 1 Stock
Momentum Picks- 10% 30-50% 2-3 Stocks 1-2% Intraday

Intraday
Momentum Picks- 25% 8-10% 6-8 Per Month 5-8% 1 Month
Positional
Stocks on the move 25% 12-15% 6-8 Per Month 10-12% 3 Months
Gladiator Stocks 35% 15-20% Opportunity based 20-30% 6 Months
Cash 5%

100%

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
MOMENTUM PICK
Morning Star: Potential bottom reversal pattern made of three candle lines. The first sizeable black candle reflects a market in which the bears are in complete charge.
The next candle line--the small real body--shows a slight diminution of the bearish force. The white candle that makes up the last part of the morning star visually
displays the bulls are gaining the upper hand. Lowest low amongst three candles becomes technical support
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

Evening Star: Potential Top reversal pattern made of three candle lines. Comparable with a traffic signal. First white candle reflects a market in bullish trend. The next
candle line--the small real bodywarns waning momentum. The black candle that completes the evening star visually exhibits that prior up trend has stopped or
reversed
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
Continuation Patterns: Other than widely known Candlestick reversal patterns discussed above, there are numerous patterns mentioned in literature on Candlestick
which describe the continuation of existing sentiments i.e. bullish or bearish. We have refrained from mentioning names of these patterns to avoid confusion. However,
the remark Continuation Pattern refers to bullish or bearish candlestick patterns which suggest continuation of existing trend

MOMENTUM PICK
Pankaj Pandey Head Research pankaj.pandey@icicisecurities.com

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

Disclaimer
We /I, Dharmesh Shah, Nitin Kunte, Pabitro Mukherjee, Vinayak Parmar Research Analysts, authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or
securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report.
Terms & conditions and other disclosures:
MOMENTUM PICK
ICICI Securities Limited (ICICI Securities) is a full-service, integrated investment banking and is, inter alia, engaged in the business of stock brokering and distribution of financial products. ICICI Securities Limited is a SEBI registered Research Analyst with SEBI
Registration Number INH000000990.ICICI Securities is a wholly-owned subsidiary of ICICI Bank which is Indias largest private sector bank and has its various subsidiaries engaged in businesses of housing finance, asset management, life insurance, general
insurance, venture capital fund management, etc. (associates), the details in respect of which are available on www.icicibank.com
ICICI Securities is one of the leading merchant bankers/ underwriters of securities and participate in virtually all securities trading markets in India. We and our associates might have investment banking and other business relationship with a significant percentage of
companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.
The information and opinions in this section have been prepared by ICICI Securities and are subject to change without any notice. The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in
any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities. While we would endeavour to update the information herein on reasonable basis, ICICI
Securities is under no obligation to update or keep the information current. Also, there may be regulatory, compliance or other reasons that may prevent ICICI Securities from doing so. Non-rated securities indicate that rating on a particular security has been
suspended temporarily and such suspension is in compliance with applicable regulations and/or ICICI Securities policies, in circumstances where ICICI Securities might be acting in an advisory capacity to this company, or in certain other circumstances.
The research recommendations are based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed. These research recommendations and
information herein is solely for informational purpose and shall not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. ICICI Securities will not treat recipients as customers by
virtue of their receiving these recommendations. Nothing in this section constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and
opinions expressed herein may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This may not be taken in substitution for the exercise of
independent judgment by any recipient. The recipient should independently evaluate the investment risks. The value and return on investment may vary because of changes in interest rates, foreign exchange rates or any other reason. ICICI Securities accepts no
liabilities whatsoever for any loss or damage of any kind arising out of the use of these recommendations. Past performance is not necessarily a guide to future performance. Investors are advised to see Risk Disclosure Document to understand the risks associated
before investing in the securities markets. Actual results may differ materially from those set forth in projections. Forward-looking statements are not predictions and may be subject to change without notice.
ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other assignment in the past twelve months.
ICICI Securities or its associates might have received any compensation from the companies mentioned herein during the period preceding twelve months from the date of these recommendations for services in respect of managing or co-managing public offerings,
corporate finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction.

ICICI Securities or its associates might have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the companies mentioned herein in the past twelve months.
ICICI Securities encourages independence in research report preparation and strives to minimize conflict in preparation of research report. ICICI Securities or its associates or its Analysts did not receive any compensation or other benefits from the companies
mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither ICICI Securities nor Research Analysts and their relatives have any material conflict of interest at the time of publication of this reports.
It is confirmed that Dharmesh Shah, Nitin Kunte, Pabitro Mukherjee and Vinayak Parmar, Research Analysts giving these recommendations have not received any compensation from the companies mentioned herein in the preceding twelve months.
Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions
ICICI Securities or its subsidiaries collectively or Research Analysts or their relatives do not own 1% or more of the equity securities of the company/companies mentioned herein as of the last day of the month preceding the publication of these research
recommendations.
Since Associates (ICICI group companies) of ICICI Securities are engaged in various financial service businesses, they might have financial interests or beneficial ownership in various companies including the subject company/companies mentioned herein.
It is confirmed that Research Analysts do not serve as an officer, director or employee or advisory board member of the companies mentioned herein.
ICICI Securities may have issued other reports that are inconsistent with and reach different conclusion from the information presented herein.
Neither the Research Analysts nor ICICI Securities have been engaged in market making activity for the companies mentioned herein.
We submit that no material disciplinary action has been taken on ICICI Securities by any Regulatory Authority impacting Equity Research Analysis activities.
This report or recommendations are not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be
contrary to law, regulation or which would subject ICICI Securities and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of
investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction

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ICICI Securities Retail Equity Research

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December 14, 2017

Pabitro Mukherjee Vinayak Parmar

ICICI Securities Retail Equity Research

ICICI Securities Retail Equity Research

Sun TV (SUNTV) Daily Candlestick Chart

Price rebound after

14 period RSI rising trajectory suggest bullish bias Initiation

Stop Loss 909.50

Indo Count (INDCOU) Daily Candlestick Chart

ICICI Securities Retail Equity Research

Bearish flag breakdown &

Stochastics (5,3,S,3) generated bearish crossover suggest negative bias Initiation

Stop Loss 112.50

Source: Bloomberg, ICICI Direct.com Research

161.8% external retracement @ 400 PaperProd has broken out of an 30

ICICI Securities Retail Equity Research

Source: Bloomberg, ICICI Direct.com Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 5

ICICI Securities Retail Equity Research

Source: Bloomberg, ICICI Direct.com Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 6

Buy Brigade Enterprises (BRIENT) in the range of 300.00-308.00 Target:

ICICI Securities Retail Equity Research

Source: Bloomberg, ICICI Direct.com Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 7

ICICI Securities Retail Equity Research

Recommendation initiated on i-click to

Source: Bloomberg, ICICI Direct.com Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 8

ICICI Securities Retail Equity Research

US 2.4 1.25 -0.88 -1.71 16.99

Japan 0.0 -0.10 -0.60 -0.10 0.90

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 9

Nifty 10,193 -0.46 1.48 0.06 1.05 60,000

ICICI Securities Retail Equity Research

Source: Bloomberg, ICICI Direct.com Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 10

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 11

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 12

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 13

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 14

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 15

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 16

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 17

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 18

ICICI Securities Retail Equity Research

Date Event Date Event

ICICI Securities Retail Equity Research

ICICI Securities Retail Equity Research

December 14, 2017 ICICI Securities Ltd. | Retail Equity Research 21

Date Stock Strategy Recommendation Price Target Stoploss Time Frame

19-Sep-17 Asian Granito Buy 490.00 615.00 430.00 6 month

25-Oct-17 JK Lakshmi Cement Buy 420-430 490.00 380.00 6 month