DAILY REPORT

23rd SEPT. 2013

Global markets at a glance Asian stocks rose, headed for their highest close in four months. Shanghai Composite Index jumped 0.8 % after it resumed trading following a two-day holiday. Japan's Nikkei share average fell 0.2 % on Friday, stepping back from two-month highs. The benchmark Nikkei shed 23.76 points to 14,742.42, after rising to as high as 14,816.65, its highest intra-day level since July 23. The euro zone's blue-chip Euro STOXX 50, which on Thursday rose to a level not seen since mid-2011, slipped 0.3%, while Germany's DAX, off 0.2%, fell back from fresh all-time highs. Wall Street Update The Dow declined 1.19 %, the S&P inching lowered 0.72 % and the Nasdaq declined 0.39 %. A lacklustre trading activity was observed in Wall Street post positive impact created by Fed. The indices ended the day on a mixed note while Dow Jones Industrial Average declined. Wall St slips as Fed officials weigh in; Dow drops 185 pts. Previous day Roundup RBI move dragged the Sensex 383 points down on Friday. The Sensex closed at 20263.71, down 382.93 points over the close after touching a low of 20051.43 intra-day. The Nifty shed 103.45 points to close at 6012.10 after falling to 5932.85 intra-day. The RBI decision to hike the repo rate came as a nasty surprise for equity investors. The massive 20 % rally seen in Indian indices in the last 20 days. Index stats Bank and realty shares were the worst performers as these sectors are most sensitive to interest rate movements. Bank Nifty & Bankex both declined 4.14%& 4.18% respectively, while all the sectors also resulted downside closing in yesterdays session; Consumer Durables [up 20.26pts], IT [down 8.26pts], Oil & Gas [down 98.79pts], TECK [down 25.22pts], PSU [down 83.66pts], Metals [down 102.35pts], Capital Goods [down 253.22pts], AUTO [down 179.42pts], Healthcare [down 12.25pts], REALTY [down 89.93pts], FMCG [down 75.14pts]. traded downward except Power [up 4.25pts] .

World Indices
Index DJl S&P 500 NASDAQ EURO STO FTSE 100 Nikkei 225 Hong Kong Value 15,451.09 1,709.91 3,774.73 2,927.19 6,596.43 14,742.42 23,502.51
CMP Change

% Change -1.19 -0.72 -0.39 -0.31 -0.44 -0.16 +1.67

% Chg

Top Gainers
Company

RELINFRA ULTRACEMCO GAIL HCLTECH AMBUJACEM

417.75 1,855.00 341.90 1,061.40 193.50

CMP

20.50 88.35 13.75 37.40 6.20

Change

+5.16 +5.00 +4.19 +3.65 +3.31

% Chg

Top Losers
Company

DLF PNB BANKBARODA INDUSINDBK JPASSOCIAT

150.85 515.00 546.00 412.00 40.25

Prev. Close

20.55 41.80 31.35 22.40 2.15

Change

-11.99 -7.51 -5.43 -5.16 -5.07

%Chg

Stocks at 52 Weeks high

Symbol

AJANTAPHARM ALEMBICLTD CMAHENDRA CRISIL DRREDDY

Symbol

772.10 26.90 210.55 1,290 2,351.70

Prev. Close

102.75 1.60 0.35 107.85 26.05

Change

+15.35 +6.32 +0.17 +9.12 -1.10

%Chg

Stocks at 52 Weeks Low

BEL INDIAGLYCO 1,115.00 86.00
CMP

37.10 1.35
Change

-3.22 -1.55
% Chg

Top Losers
Company NIFTY SENSEX

6,012.10 20,263.71

-103.45 -382.93

-1.69 -1.85

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DAILY REPORT
23rd SEPT. 2013

EQUITY CASH & FUTURE

STOCK RECOMMENDATIONS [FUTURE] 1. DLF

STOCK RECOMMENDATION [CASH] 1. LLOYD ELEC & ENG

DLF is looking weak on charts, short build up has been seen, we may see more downside, if it continues to sustain below 150. We advise selling below 150 levels with strict stop loss of 156 for the targets of 145-140 levels. 2. PNB

LLOYD ELEC & ENG is looking strong on charts . We advice buying above 38.50 with strict stoploss of 35 for the targets of 40-43-45 levels. MACRO NEWS Fitch Ratings cut India's growth forecast for current financial year to 4.8%, saying weak demand is a large drag on economy. The new estimate compares with projections of 5.7% made in June & 7%in September. India's steel production grew by just 0.9% in Aug. compared to global average of 5.2% & China's 12.8%, World Steel Association data revealed.

CORPORATE ACTION TODAY

SCRIP ACTION Rs. Per Share

PNB is looking weak on charts, short build up has been seen, we may see more downside, if it continues to sustain below 540. We advise selling on rise around 540 levels with strict stop loss of 565 for the targets of 510-500 levels.

VENUSREM TIIL SMSPHARMA JINDALSAW UCALFUEL DSKULKARNI MANJEERA NEOCORP VMART REIAGROLTD

DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND DIVIDEND

3 2 2 1 1 1 1.2 0.5 1 0.5 Call us at +91-731-6642300

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DAILY REPORT
23rd SEPT. 2013

FUTURE & OPTION

MOST ACTIVE PUT OPTION

Symbol Option Type PE PE PE PE PE PE PE PE Option Type CE CE CE CE CE CE CE CE CE Strike Price 6,000 5,900 5,800 10,000 1,700 1,100 880 150 Strike Price 6,100 6,000 6,200 11,000 1,800 900 160 45 1,900 LTP Traded Volume (Contracts) 8,60,423 7,27,200 4,92,695 72,401 13,655 2,624 4,489 2,933 Traded Volume (Contracts) 7,93,390 6,51,556 5,94,718 60.245 16,247 7,877 4,925 4,583 10,885 Open Interest 37,37,650 37,51,050 48,64,050 3,14,350 2,50,250s 1,96,750 1,92,750 10,67,000 Open Interest 38,44,850 46,89,600 43,35,850 2,87,150 4,04,375 5,98,750 19,42,000 90,92,000 3,77,125

NIFTY NIFTY NIFTY BANK NIFTY SBIN AXISBANK RELIANCE DLF Symbol

49.85 24.25 11.25 32.00 20.00 24.30 9.65 4.80 LTP

STOCKS IN NEWS Ranbaxy seeks to assuage shareholders' worries after USFDA ban. Tata Docomo's SME business growth at 20% in 2012-13 Tata-Singapore Airlines tie-up seen reaffirming India aviation potential NIFTY FUTURE

MOST ACTIVE CALL OPTION

NIFTY NIFTY NIFTY BANKNIFTY SBIN RELIANCE DLF JPASSOCIAT SBIN

42.00 94.25 14.50 77.00 20.10 8.50 2.30 0.30 4.00

Nifty Future as expected closed in the green in the last trading session. We advice buying on dips around 5980 -6000 with strict stop loss of 5940 for the targets of 6025-6050 levels.

FII DERIVATIVES STATISTICS

BUY SELL OPEN INTEREST AT THE END OF THE DAY Amount in Crores 15594.10 74922.27 28786.22 2213.21 TOTAL NET AMOUNT 427.91 2252.12 -1004.44 -20.31 413.82 No. of Amount in No. of Amount in No. of Contracts Crores Contracts Crores Contracts INDEX FUTURES INDEX OPTIONS STOCK FUTURES STOCK OPTIONS 150268 1441370 122746 87629 4442.42 42342.46 3355.25 2271.92 137195 1364404 158557 87680 4014.51 40090.34 4359.69 2292.23 523636 2504462 1014409 79953

INDICES
NIFTY NIFTYJUNIOR

S2
5827.2 11058.73

S1
5919.65 11242.21

PIVOT
6025.3 11393.68

R1
6117.75 11577.16

R2
6223.4 11728.63

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DAILY REPORT
23rd SEPT. 2013

COMMODITY MCX
COMMODITY ROUNDUP All the base metals closed lower as nickel led the complex higher. The US Fed no tapering decision and encouraging data out of the US are positive for the complex. However, in short-term the complex is likely to consolidate its gains. Traders would be looking forward to Chinas return Monday and the nations manufacturing data. Both gold and silver edged higher yesterday as the complex extended its advance following the US Fed decision. Spot gold closed with a gain of $2.33 at $1366.35. Spot silver at $23.07 was up by 11 Cents. Spot gold had risen 0.09 percent to $1,326.19 an ounce by 0021 GMT, after a near 3-percent drop on Friday. The fall all but erased the 4.5-percent climb posted last Wednesday. India will start

RECOMMENDATIONS SILVER

TRADING STRATEGY: SELL SILVER DEC BELOW 49150 TGTS 49000/48850 SL 50120. BUY SILVER DEC ABOVE 49500 TGTS 49750/49900 SL 49300 GOLD

buying gold again after a two-month gap as the govt. and banks have agreed how new rules on imports should work, easing prices in the world's biggest bullion buyer. Copper prices recorded a jump than any other base metal last week after a statement from the US Federal Reserve The benchmark copper on London Metal Exchange (LME) touched a high of $7,368 per ton, the highest since August 27 last week. LME bench mark copper contract closed at $7,295 per ton on Friday while copper for December delivery on Globex platform of Comex closed slightly down at $ 3.3205 per pound on Friday. US natural gas prices are expected to trade higher in the near term supported by temporary supply disruptions and higher than expected decline in stock-piles. The prices may get further support from weather fluctuations. NYMEX natural gas futures for October delivery settled flat at $3.687 per mmBtu on Friday. Heavy rain fall activities and floods have temporarily disrupted natural gas production in Colorado. Around 1,900 oil and natural gas wells closed due to heavy floods.

TRADING STRATEGY: BUY GOLD OCT ABOVE 30150 TGTS 30250/30350 SL 30030 SELL GOLD OCT BELOW 29750 TGTS29 29670/29600 SL 29850

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DAILY REPORT
23rd SEPT. 2013

NCDEX
NCDEX INDICES Index Value % Change

RECOMMENDATIONS CASTORSEED

Castor Seed Chana Chilli Coriander Cotton Seed Oilcake Jeera Mustard seed Ref Soya Oil Sugar M Grade Turmeric NCDEX ROUNDUP

3635 3006 5550 5615 1807 13060 3472 671 2930 4532

+0.23 +0.33 -0.04 +0.02 +1.18 -0.80 -0.34 -0.06 +0.07 -0.04

Cooking oil refiners in India are seeking higher tariffs to curb cheaper imports that have eroded margins of companies in the worlds second-largest consumer of the comBUY CASTORSEED ABOVE 3765 TGT 3790,3830 SL 3725 SELL CASTORSEED BELOW 3600 TGT 3575,3535 SL 3640 CHANA modity. India must increase the levy to 12.5 percent from 7.5 percent. Demands for higher levies may increase as international prices slump further. Palm, the worlds mostused cooking oil, may drop to the lowest level since 2009 by January as global supplies of edible oils expand and crude oil weakens, India will decide on the import tariff in 10 days, Food Minister K.V. Thomas said on Sept. 20. Soybeans traded near the lowest level in a month on speculation that the U.S. harvest will show better-thanexpected yields as the weather improves across the Midwest. Corn fell a second day. The oilseed for November delivery declined as much as 0.6 percent to $13.0775 a bushel on the Chicago Board of Trade, the lowest level for the most-active contract since Aug. 23, and was at $13.165 at 9:27 a.m. in Singapore. The U.S. soybean harvest has commenced and the early yield results seem to be holding BUY CHANA ABOVE 3175 TGT 3200,3235 SL 3135 SELL CHANA BELOW 3095 TGT 3055,3010 SL 3135 up better than expected . Corn retreated as much as 0.6 percent to $4.485 a bushel in Chicago

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DAILY REPORT
23rd SEPT. 2013

CURRENCY

RBI Reference Rate

Currency Rate Currency Rate

Rupee- $ Euro EUR/INR

62.2430 Yen-100 84.2295 GBP CURRENCY ROUNDUP

62.6700 99.8969

Goldman Sachs now expects QE tapering process to start at December 2013 FOMC meeting and to conclude in September 2014, three months later than before; GSs baseline is that first step will consist of $10b cut in Treasury purchases. Impact of FOMC announcement has started to come down as greenback stabilized and rebounded across the board. The market will now shift its focus on debt ceiling since they will run out of cash from first week of October. DXY index recovered by 0.43 % against basket of six major currencies. DXY index traded within tight rage of 37 points after sharp selloff was seen in previous session. The price managed to stay above 80.00 mark for now but yet pressure on the price will be maintained. The rupee opening on Friday was weaker at 62.05 after it closed at 61.77/78. The rupee was range bound in the initial stages but once the monetary policy was announced at 11.00 am the market perceived it as negative and $ was bought as rupee moved from a high of 61.88 to a low of 62.58. The rupee was as 62.02 at the time of writing this report. The RBI cut the MSF rate by 75 points and reduced the daily requirement of CRR to 95% from 99% but increased the repo rate to 7.5% from 7.25% thus invoking a negative reaction from the stock market and bond market. The MSF reduction is a significant reduction in banks cost of funding. The EUR/USD pair closed the previous session at 1.3524 while posting a high of 1.3541. The pound lost its ground against the dollar in Friday's session falling by the most in seven weeks after marking a high of 1.61 levels.

EUR/INR has closed @84.5050. If it sustains above the level of 84.85, it can touch the level of 85.15 & 85.54. If it breaks the level of 84.00, it can touch the level of 83.60 & 83.21. USD/INR

USD/INR has closed @62.4800. If it sustains above 62.80, it can touch the level of 63.12 & 63.32. If it breaks the level of 61.80, it can touch the level of 61.56 & 61.12.

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DAILY REPORT
23rd SEPT. 2013

CALL REPORT
PERFORMANCE UPDATES

Date 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 20/09/13 Date 20/09/13 20/09/13 20/09/13 20/09/13

Commodity/ Currency Pairs MCX GOLD MCX SILVER MCX GOLD MCX SILVER NCDEX CASTOR SEED NCDEX CASTOR SEED NCDEX DHANIYA NCDEX DHANIYA USD/INR GBP/INR USD/INR GBP/INR Scrip NIFTY BAJAJ AUTO CANBANK CESC

Contract OCT. DEC. OCT. DEC. SEP SEP SEP SEP SEP SEP SEP SEP CASH/FUTURE/ OPTION FUTURE FUTURE FUTURE CASH

Strategy BUY BUY SELL SELL BUY SELL BUY SELL SELL SELL BUY BUY Strategy BUY SELL SELL BUY

Entry Level 30850 52300 30450 51400 3630 3605 5770 5715 61.50 99.45 62.20 100.20 Entry Level 6185 2070 251 335

Target 30950-31050 52600-52900 30350-30250 51100-50800 3660-3700 3580-3550 5800-5840 5690-5650 61.30-61.00 99.25-99.00 62.50-63.00 100.50-101.00 Target 6210-6240 2090-2120 254-259 339-345

Stop Loss 30700 51900 30580 51850 3590 3640 5730 5750 61.75 99.65 61.90 99.90 Stop Loss 6155 2045 247 329

Remark NOT EXECUTED NOT EXECUTED BOOKED FULL PROFIT BOOKED FULL PROFIT NO PROFIT NO LOSS SL TRIGGERED BOOKED PROFIT NOT EXECUTED NOT EXECUTED SL TRIGERED BOOKED PROFIT BOOKED PROFIT Remark NOT EXECUTED SL TRIGGERED SL TRIGGERED BOOKED PROFIT

US ECONOMIC REPORT TIME (ET)

8:30 am 8:58 am 9 AM 9 AM 10 AM 8:30 am 10 am 12 noon 8:30 am 8:30 am 10 am 8:30 am 8:30 am 8:30 am 9:55 am

REPORT
Chicago Fed national index Markit flash PMI CASE-SHILLER HOME PRICE INDEX FHFA HOME PRICE INDEX CONSUMER CONFIDENCE INDEX Durable goods orders New home sales Household debt Weekly jobless claims GDP revision Pending home sales index Personal income Consumer spending Core PCE price index UMich consumer sentiment index

PERIOD
Aug. Sept.

ACTUAL

CONSENSUS FORECAST
----80.0

PREVIOUS
-0.15 3-month 53.1 12.1% y-o-y 7.8% y-o-y 81.5

MONDAY, SEPT. 23

TUESDAY, SEPT. 24 JULY JULY SEPT. WEDNESDAY, SEPT. 25 Aug. Aug. 2Q THURSDAY, SEPT. 26 9/21 2Q Aug. FRIDAY, SEPT.27 Aug. Aug. Aug. Sept. 0.3% 0.3% 0.1% 77.5 0.1% 0.1% 0.1% 76.8 N/A 2.7% -309,000 2.5% -1.3% -0.7% 423,000 --7.4% 394,000 -0.6%

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