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DAILY MORNING NOTE

1 December 2017
Indices Current % %
Value 1D YTD India July-Sept. Quarter GDP grew 6.3% y-o-y
Nifty 50 10227 (1.30) 25.03
Asian markets were trading mixed despite strong cues from Wall Street
BSE Sensex 33149 (1.35) 24.64
BSE Mid-Cap 16917 (0.55) 39.45 overnight while energy prices remained in focus after OPEC & Russia
BSE Small-Cap 18229 0.10 49.54
agreed to extend production cuts till the end of 2018. Nikkei is trading
SGX Nifty Fut 10281 0.03 -
Sectors –Performance (BSE) lower by 0.03%, Hang Seng was trading higher by 0.51% while Shanghai
Realty Index 2446 1.09 85.48 is trading higher by 0.20%. Indian indices are expected to open on a flat
Cons Durable 21461 0.06 87.90
note and focus will be on domestic data along with global cues. Sgx
FMCG Sector 10321 (0.42) 26.86
Auto 25205 (0.98) 22.05 Nifty is trading lower by 0.09%.
Metal 13902 (1.10) 34.97
BANKEX 28631 (1.88) 39.64 The U.S. Markets ended higher on expectations of the passing of bill aimed

at overhauling the U.S. tax code. The Dow Jones gained 332 points or 1.39%
Index FY17E FY18E FY19E
to close at 24,272 while NASDAQ gained 50 points or 0.73% to close at
SensexEPS 1440 1595 1931
P/E 23 20.78 17.17 6,874.
NiftyEPS 456 510 614
P/E 22 20.05 16.66 What to watch

 Results Today: Mahindra Logistics, 8K Miles Software, Setco


FII Trading activities in Cash
Date Buy Sell Net Automotive, Pondy Oxides, Vimta Labs, Yash Papers
FII 30/11 15964 17465 (1501)  Nikkei India manufacturing PMI for November
DII 30/11 7397 6195 1203  Auto companies to report November sales
Figs. in Rs Cr., Source: Bloomberg.  India July-Sept. Quarter GDP grew 6.3% y-o-y
 India’s Key Industries Grew 4.7% in October
Current
Global Indices Corporate
Value Chg % Chg
Dow 30 24272 332 1.39  HDFC to dilute stake in AMC via Initial Public Offering. HDFC hold
Nasdaq 6874 50 0.73
50.01 % stake in the AMC business post dilution while Standard Life
Bovespa 71971 (729) (1.00)
DAX 13024 (38) (0.29) to hold 24.99 %.
FTSE 100 7327 (67) (0.90)
 Bank of Baroda has announced that LIC of India has reduced stake in
Nikkei 225 22779 54 0.24
Shanghai 3315 (2) (0.06) bank to 5.2% from 7.2%.
Hang Seng 29258 80 0.27  LT Foods Plans to invest $20 mn for expansion and strengthening its
Strait Times 3457 23 0.67
Source: Bloomberg; As on 8.30 am IST
presence in Europe.

 Laurus Labs has obtained tentative approval from USFDA for


Forex Rate Price Change % Chg Tenofovir Disoproxil Fumarate tablets.
USDINR 64.65 0.13 0.20
 Mirza International receives MCA approval for scheme of merger
EURINR 76.59 0.11 0.15
GBPINR 86.98 0.47 0.54 between Hi-Life Fabricators and self.
JPYINR 57.59 (0.28) (0.48)
 Reliance Communications has announced that 31 foreign and Indian

lenders oppose China Development Bank’s insolvency plea

1 December 2017 For private circulation only


Trading Insights

Insight from trading volumes

% Chg in Qty Traded Qty Traded


Scrip Delivery % CMP*
(OverAvg 30 days) (‘000s)

Zydus Wellness 1808 748 82 910

Mcleod Russel 1230 30307 41 235

Prestige Estates 739 4710 86 330

Apollo Hospitals 698 6957 73 1108

Vakrangee 591 31374 63 716

Videocon Inds. 473 11421 49 15

La Opala RG 463 171 36 638

Insight from delivery

Scrip Delivery % Total Volume (‘000s) 30 days avg Delivery % CMP*

Rain Industries 50 5381 28 355

Abbott India 79 16 45 5267

JSW Energy 53 15527 33 84

HDIL 34 30048 20 63

GNFC 45 2006 31 443

Coffee Day Enter 70 468 46 245

Balkrishna Inds 54 300 36 2147


*CMP-Closing Market Price

1 December 2017 2
Investment Picks

Target % Target %
Company CMP Company CMP
Price Upside Price Upside

ABB 1395 1690 21 Lumax Inds 1954 2245 15


Advanced Enzyme 276 370 34 Mahindra CIE 246 282 15
Alkem Labs 1992 2150 8 Manappuram Fin 105 118 12
APL Apollo Tubes 1957 2195 12 Maruti Suzuki 8602 9522 11
Apollo Hospitals 1108 1349 22 MCX Ltd 962 1280 33
Ashok Leyland 118 133 13 Minda Corp 196 246 25
Can Fin Homes 484 580 20 Mold-Tek Pack 314 347 10
Capital First 703 920 31 Motherson Sumi 364 403 11
CARE 1373 1558 13 Narayana Hrudayalaya 298 348 17
Cholamandalam Invst 1278 1400 10 Natco Pharma 938 1150 23
Coromandel Intl 518 570 10 ONGC 181 215 19
Dhanuka Agritech 687 915 33 Phoenix Mills 516 605 17
Dilip Buildcon 977 1227 26 Power Finance 121 160 32
Divi's Lab 1043 1200 15 Ramco Cement 700 816 17
EID Parry 368 520 41 RBL Bank 518 620 20
Equitas Holdings 148 168 14 Reliance Inds 923 990 7
Essel Propack 287 304 6 Repco Home Finance 628 800 27
Federal Bank 111 139 26 Sadbhav Engg 379 416 10
Future Retail 547 680 24 Shopper's Stop 549 610 11
Gateway Distriparks 251 280 12 Steel Strips 953 1100 15
Glenmark Pharma 565 765 35 Strides Arcolab 802 940 17
GMM PFAUDLER 628 662 5 Suprajit Engg 289 315 9
Gulf Oil Lubricants 1011 1075 6 Tata Motors 405 520 29
HDFC 1678 1980 18 Tata Steel 695 795 14
HDFC Bank 1852 2150 16 Tech Mahindra 489 550 12
Hero MotoCorp 3642 4333 19 Thomas Cook 240 290 21
Hindustan Unilever 1274 1400 10 Trident Ltd 89 108 21
ICICI Bank 308 350 14 VA Tech Wabag 603 740 23
IGPetrochemicals 710 860 21 Varun Beverages 509 590 16
IndusInd Bank 1662 1920 16
Infosys Tech 975 1200 23
InterGlobe Aviation 1125 1435 28
ITC 256 320 25
J Kumar Infra 292 330 13
Jagran Prakashan 166 190 14
JK Cement 997 1220 22
Karnataka Bank 155 195 26
Karur Vysya Bank 114 132 16
LIC Housing 584 740 27

1 December 2017 3
Technical View (Equity)

Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,226.55 -1.30% 10135 10180 10255 10300 10380
Sensex 33149.35 -1.35% 32810 32980 33280 33445 33745

Nifty Daily Chart

Comments:
Nifty opened with downward gap and selling pressure throughout the session led it to close near day's low. Nifty
closed at 10227 with a loss of 135 points.

On the daily chart the index has formed a long bearish candle forming lower High-Low compare to previous
session indicating negative bias. The index is moving in a lower Top and lower Bottom formation on the hourly
chart indicating short term down trend. The chart pattern suggests that if Nifty crosses and sustains above 10250
level it would witness buying which would lead the index towards 10280-10310 levels. Important Supports for the
day is around 10200 However if index sustains below 10200 then it may witness profit booking which would take
the index towards 10170-10140 levels.. Nifty is trading below 20 day SMA's which indicating negative bias in the
short term. Nifty continues to remain in an uptrend in the short and medium term, so buying on dips continues to
be our preferred strategy.

The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below
their respective reference lines indicating negative bias.

The trend deciding level for the day is 10255. If NIFTY trades above this level then we may witness a further rally
up to 10300-10380-10425 levels. However, if NIFTY trades below 10255 levels then we may see some profit
booking initiating in the market, which may correct up to 10180-10135-10060 levels

Stocks to focus for intraday Long GNFC, Fortis, Rain, Jisljaleqs, SupremInd. , Prestige,
Chambalfert, Balkrishna Ind.

Stocks to focus for intraday Short Upl, Relinfra,Century Text.,Ktkbank, Auropharma,


Tatasteel, Havells

1 December 2017 4
Technical View (Currency)

Daily call
Index CMP % up/dn S2 S1 P R1 R2
USD/INR
64.65 0.21% 64.44 64.55 64.67 64.78 64.90
(Future)

USDINR (Dec. Future) Daily chart

Comments:
USDINR (Dec. Future) CMP: 64.65

USDINR opened with an upward gap and witnessed extreme volatility throughout the day. USDINR
closed at 64.65 with a gain of 0.21 %.

On the daily chart USDINR has formed a "Doji" candlestick formation indicating indecisiveness amongst
market participants regarding the direction USDINR is moving in a Lower Top and Lower Bottom
formation on the daily chart indicating sustained down trend. USDINR is trading below its important
moving averages of 20 and 50 day SMA’s indicating negative bias in the short to medium term

The chart pattern suggests that if USDINR breaks and sustains below 64.55 levels it would witness
selling which would lead USDINR towards 64.45-64.40 levels. However if index crosses above 64.70
level it would witness buying which would take USDINR towards 64.85-65.

The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating
negative bias. However momentum oscillator Stochastic has turned positive from the oversold zone
indicating a possible consolidation or a up-move in the near term.

1 December 2017 5
Daily Support/ Resistance of Nifty Companies

Company CMP Pivot Point R1 R2 S1 S2


Adani Ports 398 400 403 405 398 394
Ambuja Cem. 263 262 265 268 260 257
Asian Paints 1147 1150 1158 1167 1142 1133
Aurobindo Pharma 693 704 718 727 696 682
Axis Bank 535 543 552 556 538 530
BPCL 504 507 513 519 500 495
Bajaj Auto 3306 3321 3357 3409 3269 3233
Bajaj Fin. 1727 1746 1769 1783 1732 1708
Bharti Airtel 496 494 498 503 489 486
Bharti Infra. 384 385 388 392 381 377
Bosch 20334 20277 20570 20946 19901 19608
Cipla 601 603 610 614 599 593
Coal India 276 275 278 281 272 270
Dr Reddy's Labs 2284 2278 2295 2329 2244 2227
Eicher Motors 29944 30117 30353 30486 29984 29747
GAIL (India) 468 465 470 477 459 454
HDFC 1676 1691 1715 1727 1679 1655
HPCL 417 415 420 425 410 405
HCL Technologies 848 850 858 866 842 834
HDFC Bank 1854 1861 1882 1895 1848 1827
Hero Motocorp 3634 3649 3678 3706 3621 3592
Hind. Unilever 1272 1269 1280 1287 1262 1251
Hindalco Inds. 240 244 249 252 241 236
IOCL 394 393 397 402 387 383
ICICI Bank 308 312 318 322 309 303
Indiabulls Hous. 1206 1210 1221 1234 1197 1186
IndusInd Bank 1662 1665 1677 1691 1651 1639
Infosys 976 982 996 1004 975 961
ITC 256 257 259 260 256 253
Kotak Mah. Bank 1000 1012 1028 1036 1003 988
Larsen & Toubro 1217 1216 1223 1231 1208 1201
Lupin 818 827 839 846 821 808
M&M 1407 1420 1440 1450 1410 1391
Maruti Suzuki 8599 8634 8692 8735 8591 8533
NTPC 181 181 183 184 180 178
ONGC 181 181 182 183 180 178
Power Grid Corpn 206 207 210 211 206 204
Reliance Inds. 922 934 949 956 927 912
St Bk of India 320 324 329 332 321 316
Sun Pharma.Inds. 540 547 555 564 538 529
Tata Motors 404 408 414 418 404 398
Tata Steel 694 701 711 718 694 684
TCS 2637 2648 2673 2692 2629 2604
Tech Mahindra 489 492 496 500 488 483
UltraTech Cem. 4204 4243 4299 4328 4215 4159
UPL 731 742 764 777 729 707
Vedanta 295 296 298 300 294 292
Wipro 292 296 303 307 292 285
Yes Bank 307 309 314 316 307 302
Zee Entertainmen 568 572 578 583 567 561

Source: Axis Direct.

1 December 2017 6
Commodity snapshot

1 December 2017 7
DAILY DERIVATIVES 01 December 2017

Nifty Futures View Volatility FII Activity


Nifty Active Futures 10278.65 India VIX Index 13. 55 INDEX FUTURES -625
Nifty Active Futures OI 28180050 Nifty ATM Call IV 10. 39 INDEX OPTIONS 1736
Change in OI 2020650 Nifty ATM Put IV 13. 57 STOCK FUTURES -2624
Premium / Discount 52.10 PCR Index Options 0. 81 STOCK OPTIONS 44
Inference Long Unwinding PCR F&O Total 0. 80 FII Net Activity -1469

Nifty Options OI Distribution HIGHLIGHTS:


Nifty Futures closed at 10278.65 decreased by 1.16% with 7.17%
increased in open interest indicates unwinding of position. Nifty
futures closed with 52.10 points premium compared to previous day
discount of 1 point.
Nifty Futures
FII's were buyers in Index Futures to the tune of 1281 crores and were
closed at sellers in Index Options to the tune of 39 crores, Stock Futures were
10278.65 sold to the tune of 563 crores. FII's were net buyers in derivative
segment to the tune of 671 crores.
decreased by
India VIX index is at 13.55 . Nifty ATM call option IV is currently at
1.16% with 10.39 whereas Nifty ATM put option IV is quoting at 13.57.
7.17% Index options PCR is at 0.81 and F&O Total PCR is at 0.80.
increased
Nifty Options in
-Change in OI
Among stock futures JUSTDIAL, CAPF, NMDC and DABUR have
open interest witnessed long build up and may show strength in coming session.

indicates Stocks which witnessed short build up are HAVELLS, PNB, VEDL and
HINDALCO may remain weak in coming session.
unwinding of
Nifty put options OI distribution shows that 10200 has highest OI
position. Nifty concentration followed by 10000 and may act as good support for
futures closed current expiry.

with 52.10 Nifty call strike 10500 followed by 10600 witnessed significant OI
concentration and may act as resistance for current expiry.
points
premium
comparedINtoBAN PERIOD
SECURITIES Market Indsite:
NIL previous day

discount
Stock of -1Long Build Up
Futures Market Indsite:
Stock Futures - Short Build Up

point. Fut Price % Chg Open Interest % Chg


Symbol Symbol Fut Price % Chg Open Interest % Chg
JUSTDIAL 533. 3 0.47 2254800 147.00 HAVELLS 512. 8 -2.05 3978000 128.00

FII's were 705. 2


CAPF 0.52 3780800 76.00 PNB 177.35 -3.06 43967000 110.00
buyers in 128.25
NMDC 0.12 29352000 68.00 VEDL 297.35 -0.98 45710000 105.00
Index Futures
DABUR 346. 3 1.2 10520000 151.00 HINDALCO 241.65 -2.62 44523500 108.00
to the tune of
Source:1281 crores Research
NSE,SeeDiff,AXISDIRECT

and were
Disclosures

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1 December 2017 8
Disclosures

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1 December 2017 For private circulation only


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