Daily Calls

October 1, 2014
Market Outlook

Domestic Indices
Indices

Close

Change

Change%

26630.51

33.40

0.13

7964.80

5.90

0.07

7999.15

5.25

0.07

10173.26

10.79

0.11

9530.35

13.57

0.14

10681.46

13.79

0.13

Indices
Close
Change
17042.90
-28.32
Dow Jones
Nasdaq
4493.39
-12.46
6622.72
-23.88
FTSE
DAX
9474.30
51.39
0.00
Hang Seng
22932.98
Nikkei
16204.98
24.96
7967.50
-21.00
SGX Nifty
* Asian Market at 7:30 am.IST
Hang Seng Markets are closed today

Change%
-0.17
-0.28
-0.36
0.55
0.00
0.15
-0.26

S&P BSE Sensex

CNX Nifty
Nifty future
S&PBSE 500
S&PBSE Midcap
S&PBSE Smallcap

Sensex: We said, "Strength above Friday required to open +ve options ... " Index traded volatile on RBI Policy. Above Friday after
the Policy, it failed to hold the gains later, and settled only 33 pts or 0.1% higher. Pharma/OG sectors moved +ve, but
Realty/Power stocks came under pressure. Initially +ve, A/D ratio settled even stevens.
The action formed a Long Legged Doji candle, with Open=Close indicating an indecisive end to the extremely volatile trade
around RBI Policy. Follow-up weakness and Close below the candle could be -ve. However, now into the Blue area again, watch
if action bases out and recovers over and above the initial weakness.
Exhibit 1: Sensex Daily Candlestick Chart

Global Indices

Market Breadth
40
106

Unchg

NSE
BSE

620

Decline

554

Advance
0

500

1532
1353
1000

1500

2000

Recommendations for the day

1. Sell Nifty Oct Future in range of 8020 - 8025
2. Buy BPCL above 657.00
3. Buy Cipla in range of 624.50-625.50
4. Sell IDFC in range of 138.50-139.30
*All recommendations are of October Future

Source: ASA, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Exhibit 2: Nifty Future Daily Candlestick Chart

CNX Nifty (Cash Levels) Technical Picture
Nifty
Trend

Intraday
Range bound

Short Term
Range bound

Trend Reversal
Support

7925-7890

7700

Resistance

7980-8010

8200

20 Days EMA

8002

200 days EMA

7196

Nifty Future Recommendations

CMP :

7999.15

Comment : Future premium decreased from 35 points to 34.

Reacts from the Shoulders level in late
trade.Reverse if holds 7950-60
Action :

Sell in the range of 8020-8025

Targets :

7990/7970/Lower

Stop-loss :

8040.00

Source: ASA, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 2

Trend Scanner
Global Currencies
Spot

Positive Trends

Close

Prev.close

% Chg

Rupee (|)

61.758

61.528

-0.37

Scrip Name

Dollar Index

86.040

85.936

0.11

Euro

1.262

1.263

British Pound

1.619

Japanese Yen
Australian ($)
Swiss Franc

Candlestick Patterns
Close

% Change

10-day SMA

Delivery (%)

Bharat Petroleum Corp Ltd

655.40

2.84

647.45

50.30

-0.12

Merck Ltd/India

850.45

2.51

832.88

54.34

1.621

-0.12

ITC Ltd

370.20

1.12

367.63

67.20

109.880

109.650

-0.21

Zee Entertainment Enterprises Ltd

314.15

3.54

304.32

50.97

0.869

0.875

-0.65

0.956

0.955

-0.09

Global Treasury Yields

Closing Yield (%)

Previous Yield (%)

8.51

8.51

US 10 Year

2.50

2.49

EURO 10 Year

0.95

0.96

GBP 10 Year

2.42

2.44

JPY 10 Year

0.52

0.53

Commodities
Close

Prev. Close

%Chg

1206.15

1208.15

-0.16

Copper

16.9428

16.9755

-0.19

95.08

94.67

0.48

Brent Crude

Scrip Name

FII
-485.9

DII
201.2

29-Sep-14

150.1

234.5

26-Sep-14

-1,133.6

1,335.3

25-Sep-14

-851.2

818.6

24-Sep-14

-793.7

-15.3

Scrip Name

Close

IOC

362.4

MT Educare

138.2

Scrip Name

Close

Coromandel

305.9

Bearish Continuation pattern

314.2

BHEL

200.5

BPCL

655.4

DLF

150.9

Sun Pharma

857.3

Close

% Change

10-day SMA

Delivery (%)

IDFC Ltd

137.25

-2.42

142.78

32.53

Piercing Line

Bharat Heavy Electricals Ltd

200.45

-3.51

214.21

37.59

ITC

370.2

Note: For Candlestick pattern description refer towards the end of

the report.
Overbought Stocks

Oversold Stocks

Stocks hitting 52 week high

Stocks rising for 5 days & stochastic overbought

Stocks falling for 5 days & stochastic oversold

Scrip Name

LTP

Scrip Name

Scrip Name

Berger Paint

379.5

Aurobindo Pharma

Institutional Activity
Cash Segment (| Cr)
30-Sep-14

Dark cloud cover

ZEE Entertainment

US Dollar

Gold

Bearish Candlestick Formations

Bullish Engulfing

Bullish Continuation pattern

Negative Trends

India 10 year

Bullish Candlestick Formations

ICICI Securities Ltd. | Retail Equity Research

LTP

Stochastic

969.5

95.7

LTP

Stochastic

Mcleod Russel

291.95

16

Reliance Infra.

589.5

19.83

148

16.3

Uflex

Colgate
HDFC Bank

1746.5
874

Marico

309.9

Titan Company

408.5

Wabag

1690

Page 3

Stock recommendations for the day

Exhibit 3: BPCL (BHAPET)

Daily Candlestick Chart

Short term trendline breakout and price close above 50 days

EMA indicating resumption of upward momentum

BPCL (BHAPET) October Future

CMP

658.20

Comment : Price breaking past short term trend resistance

indicating resumption of upward momentum. RSI
in up trend

Action :

Buy above 657

Targets :

665.50/671/Higher

Stop-loss :

652.10

50 days EMA

Bullish crossover in RSI oscillator in the daily chart

Source: Bloomberg, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 4

Exhibit 4: Cipla (CIPLA)

Daily Candlestick Chart

Triangular breakout on daily charts and price sustaining above 13

day EMA indicating more upsides in coming sessions
Cipla (CIPLA) October Future
CMP

629.15

Comment : Price sustaining above 13-day EMA and breaking

past triangular consolidation

Action :

Buy in the range of 624.50-625.50

Targets :

632.70/636/Higher

Stop-loss :

620.90

RSI in uptrend validates positive trend in price

Source: Bloomberg, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 5

Exhibit 5: IDFC (IDFC)

Daily Candlestick Chart

Price reacting lower after facing resistance at higher band of

declining channel
IDFC (IDFC) October Future
CMP

137.75

Comment : Price resisting at higher boundary of short term

declining trend channel. MACD in declining mode

Action :

Sell in the range of 138.50-139.30

Targets :

136/134.70/Lower

Stop-loss :

140.70

MACD giving sell signal moving below signal line in daily chart

Source: Bloomberg , ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 6

Previous Days Performance

Scrip

Nifty
Lupin
PowerGrid

Product

Future
Future
Future

Strategy

Sell
Buy
Buy

Recommended Price

In range of 8015-8020
In range of 1398-1401.00
In range of 138.70-139.30

Targets

7985/7965/1420/1432/+
142/143.50/+

SL

8035.00
1389.00
137.50

Gain/Loss %*

32.50
0.45
-1.07

Comment

Target 1 achieved
Closed at 1405.90
Stoploss triggered

* Return Opportunity
Nifty Points gained for the day: 32.5 points

Gains over last 120 days: 376.5 points

Stock profits: Avg -0.31% per trade

(Cum. Profits over last 120 days:144.50%)

Strike Rate for the day: 1/2

(Cum strike rate over 120 days: 151/271

NOTE: The follow-up and performance review table of the strategies indicates the profit opportunity that was available in the strategies. Individual profits may vary,
depending upon the entry and exit price and stop losses

ICICI Securities Ltd. | Retail Equity Research

Page 7

Support and Resistance Table (Cash Levels)

SCRIP
SENSEX

CLOSE

S1

S2

S3

R1

R2

R3

TREND

26630.51

26642.45

26549.95

26457.45

26827.45

26876.9

26926.35

+ve

NIFTY

7964.80

7969.00

7942.25

7915.45

8022.50

8036.80

8051.05

+ve

ACC

1399.55

1376.55

1368.70

1360.80

1408.00

1423.75

1439.45

-ve

470.70

464.15

460.50

456.85

472.15

476.15

480.15

-ve
-ve

ADANI ENTER.
ADANI POWER
ADITYA BIRLA
ALLAHABAD BANK
ANDHRA BANK
APOLLO HOSPITALS

43.40

42.70

42.30

41.90

43.65

44.10

44.60

1620.50

1596.50

1587.50

1578.50

1629.10

1645.40

1661.75

-ve

99.35

97.50

96.55

95.55

100.00

101.25

102.50

-ve

65.15

64.05

63.55

63.05

65.45

66.15

66.85

1120.70

1118.80

1108.80

1098.80

1138.80

1145.45

1152.10

+ve
+ve

APOLLO TYRES

203.75

202.00

198.10

194.25

209.75

210.75

211.75

ARVIND

296.90

291.25

288.85

286.45

298.15

301.60

305.00

41.15

40.80

40.45

39.95

41.50

41.85

42.40

ASHOK LEYLAND

-ve

-ve
Neutral

ASIAN PAINTS

629.55

629.90

625.80

621.75

638.05

640.70

643.40

+ve

AUROBINDO PHARMA

968.25

966.70

958.15

949.65

983.80

1001.90

1020.05

+ve

BAJAJ AUTO

2351.60

2343.30

2327.95

2312.60

2373.95

2388.95

2403.90

+ve

BOB

902.30

901.30

896.70

892.10

910.50

915.80

921.10

+ve

BOI

232.00

227.05

223.95

220.85

233.50

236.75

239.95

1324.55

1323.70

1318.70

1313.70

1333.70

1349.85

1366.00

BATA INDIA

-ve
+ve

BHARAT FORGE

823.30

811.50

803.45

795.40

826.70

834.35

841.95

-ve

BPCL

655.40

652.05

644.85

637.60

666.55

672.40

678.30

+ve
+ve

BHARTI AIRTEL

405.20

405.15

403.15

401.15

409.10

410.95

412.75

BIOCON

498.20

491.70

487.60

483.50

499.85

503.90

508.00

-ve

CAIRNS INDIA

311.85

311.20

309.25

307.30

315.10

316.60

318.05

+ve

CANARA BANK

350.90

348.50

345.25

341.80

355.00

358.25

361.70

Neutral

CENTURY TEXT.

544.00

541.60

537.50

533.90

549.75

553.80

557.40

Neutral

CESC

750.05

738.10

731.35

724.55

751.50

758.20

764.90

58.30

58.30

57.90

57.50

59.15

59.90

60.70

+ve

CIPLA

626.80

624.85

621.25

617.70

632.00

635.30

638.60

+ve

COAL INDIA

341.35

336.65

334.90

333.15

342.30

345.10

347.90

1742.55

1732.75

1712.65

1692.55

1772.95

1786.90

1800.85

CROMPTON GREAVES

201.10

201.10

198.15

195.20

206.95

208.45

209.90

+ve

DABUR INDIA

222.15

222.45

221.05

219.65

225.25

227.65

230.00

+ve

53.85

53.50

53.20

52.80

54.10

54.40

54.85

CHAMBAL FERT.

COLGATE PALM.

DISH TV

ICICI Securities Ltd. | Retail Equity Research

-ve

-ve
+ve

Neutral

Page 8

SCRIP
DIVI'S LAB.

CLOSE

S1

S2

S3

R1

R2

R3

TREND

1800.35

1797.05

1782.30

1767.55

1826.55

1846.90

1867.25

150.85

145.95

144.30

142.60

151.65

154.50

157.35

3229.60

3231.50

3221.80

3212.10

3250.90

3272.50

3294.15

EXIDE IND.

169.60

168.80

167.95

166.90

170.45

171.25

172.35

Neutral

FEDERAL BANK

125.85

125.85

124.60

123.40

128.35

129.05

129.80

+ve

FUTURE RETAIL

117.00

117.25

116.45

115.65

118.85

120.30

121.75

+ve

GAIL

449.45

443.65

438.85

434.10

450.15

453.40

456.65

5636.75

5597.00

5495.75

5394.50

5799.50

5852.00

5904.50

+ve

721.80

724.35

716.60

708.85

739.85

749.35

758.85

+ve

17.55

16.95

16.55

16.20

17.65

18.00

18.40

-ve

988.60

967.30

962.05

956.80

991.00

1002.85

1014.70

-ve

DLF
DR.REDDY'S LAB.

GLAXO SMITH.C.H.
GLENMARK PHARMA.
GMR INFRA.
GODREJ CONSUMER
GODREJ IND.

+ve
-ve
+ve

-ve

307.70

306.30

304.05

302.40

310.85

313.10

314.75

3548.40

3522.65

3507.15

3491.70

3554.60

3570.55

3586.55

AMBUJA CEMENT

213.70

211.95

210.70

209.45

213.80

214.75

215.65

-ve

HAVELL'S INDIA

264.85

264.55

262.65

260.75

268.35

269.85

271.30

+ve

1714.75

1714.85

1710.35

1705.85

1723.80

1730.60

1737.35

+ve

872.65

871.95

867.25

862.60

881.25

885.30

889.35

+ve
+ve

GRASIM

HCL TECH
HDFC BANK
HDFC

1055.25

1052.35

1044.15

1036.00

1068.70

1074.05

1079.45

HERO MOTO

2839.55

2798.35

2781.50

2764.65

2848.95

2874.25

2899.55

201.15

201.45

198.30

195.20

207.70

209.85

212.00

HEXAWARE TECH.

Neutral
-ve

-ve
+ve

HINDALCO

156.75

154.10

152.10

150.10

157.65

159.45

161.20

-ve

HIND. UNILEVER

746.00

743.00

740.05

735.70

748.90

751.85

756.25

Neutral

HPCL

482.15

479.60

473.45

467.25

491.95

496.30

500.60

+ve

HINDUSTAN ZINC

160.95

157.95

157.30

156.65

160.95

162.45

163.95

83.65

83.85

82.80

81.70

86.00

86.70

87.35

1433.55

1418.05

1411.30

1404.55

1438.25

1448.35

1458.45

-ve

60.85

59.60

58.95

58.30

61.20

62.00

62.80

-ve

HDIL
ICICI BANK
IDBI

-ve
+ve

IDEA CELLULAR

166.10

165.70

164.45

163.25

168.10

169.70

171.30

+ve

NSE INFRA DEV FINANC

137.25

134.55

133.70

132.85

138.00

139.70

141.40

-ve

35.75

35.00

34.45

33.90

35.90

36.35

36.80

3439.15

3431.15

3414.20

3397.30

3465.00

3497.05

3529.15

INDUSIND BANK

621.55

618.30

615.05

611.25

624.75

627.95

631.80

Neutral

INDIA CEMENTS

112.55

111.80

110.60

109.45

114.20

115.40

116.55

Neutral

INDRAPRASTHA GAS

419.55

414.45

411.55

408.70

420.35

423.30

426.25

-ve

IFCI
ORACLE FIN.

ICICI Securities Ltd. | Retail Equity Research

-ve
+ve

Page 9

SCRIP

CLOSE

S1

S2

S3

R1

R2

R3

TREND

IOC

362.40

359.20

353.20

347.25

371.15

375.10

379.10

IOB

56.85

56.45

55.85

55.40

57.70

58.30

58.75

Neutral

IB REAL ESTATE

67.50

65.40

64.30

63.20

68.30

69.75

71.20

-ve

INFOSYS

+ve

3747.75

3727.60

3713.80

3693.60

3755.20

3769.00

3789.20

IRB INFRA.

231.10

227.35

225.45

223.50

231.45

233.50

235.55

Neutral
-ve

ITC

370.20

369.35

367.00

364.65

374.05

376.15

378.25

+ve

JAIPRAKASH ASS.

26.45

26.05

25.80

25.40

26.65

26.95

27.30

Neutral

J.P.POWER VENT.

12.45

12.35

12.25

12.05

12.55

12.70

12.85

Neutral
Neutral

JAIN IRRIGATION

81.40

80.60

79.50

78.75

82.80

83.95

84.70

JINDAL ST&POW

172.80

169.45

166.90

164.30

173.75

175.90

178.05

-ve

70.70

69.45

67.85

66.30

70.95

71.70

72.45

-ve

JSW ENERGY
NSE JSW STEEL

1156.05

1117.35

1109.45

1101.50

1169.85

1196.10

1222.35

-ve

JUBILANT FOOD

1230.70

1212.85

1199.00

1185.20

1232.35

1242.10

1251.90

-ve

KARNATAKA BANK

113.00

111.00

110.25

109.45

113.55

114.80

116.10

KOTAK MAH.BANK

1013.10

1014.70

1009.10

1003.45

1025.95

1033.90

1041.80

+ve

L&T

1458.25

1451.75

1439.55

1429.85

1476.15

1488.35

1498.10

Neutral

325.50

324.35

320.95

317.55

331.10

332.70

334.30

NSE LUPIN

1395.65

1390.00

1384.75

1377.95

1400.50

1405.75

1412.60

M&M

1360.80

1342.90

1337.35

1331.80

1363.85

1374.30

1384.80

-ve

MARUTI SUZUKI

3062.85

3057.20

3041.15

3025.10

3089.30

3099.75

3110.20

+ve

UNITED SPIRITS

2402.80

2404.90

2385.40

2365.90

2443.85

2453.40

2463.00

+ve

290.70

291.20

288.40

285.55

296.80

298.30

299.75

+ve

LIC HOUSING

MCLEOD RUSSEL
M&M FIN.SERV.

-ve

+ve
Neutral

273.60

270.40

268.15

265.95

274.05

275.85

277.70

32681.95

32412.70

31909.85

31407.00

33418.45

33538.90

33659.30

277.55

273.15

271.00

268.85

278.50

281.20

283.90

-ve

19.45

19.25

19.10

18.95

19.55

19.65

19.80

-ve

NMDC

165.40

165.50

164.55

163.55

167.50

168.65

169.85

+ve

NSE NTPC

139.10

138.60

138.25

137.60

139.35

139.75

140.40

Neutral

ONGC

408.55

405.90

402.70

400.25

412.20

415.40

417.85

Neutral

OBC

229.65

223.55

221.30

219.05

231.35

235.25

239.15

-ve

PETRONET LNG

188.00

187.50

186.30

185.05

189.90

191.10

192.30

+ve

POWER FINANCE

234.60

230.25

227.50

224.75

235.15

237.60

240.05

-ve

POWER GRID

135.25

133.20

132.20

131.15

135.70

136.95

138.15

85.30

84.90

84.15

83.50

86.40

87.20

87.85

MRF
ADANI PORTS SEZ
NSE NHPC

POWER TRADING

ICICI Securities Ltd. | Retail Equity Research

-ve
+ve

-ve
Neutral

Page 10

SCRIP

CLOSE

S1

S2

S3

R1

R2

R3

TREND

PNB

887.30

882.05

876.95

870.45

892.25

897.35

903.85

RANBAXY

639.70

637.75

633.35

629.00

646.55

653.20

659.90

+ve

99.00

97.40

96.10

94.80

100.05

101.40

102.65

Neutral

REL. CAPITAL

455.35

447.10

443.25

439.45

457.20

462.25

467.30

-ve

RELIANCE INFRA.

585.45

570.95

566.85

562.75

585.45

592.70

599.95

-ve

RELIANCE

945.70

942.70

936.85

931.00

954.40

957.70

960.95

+ve

70.30

69.15

68.55

67.95

70.55

71.20

71.90

249.95

250.10

247.10

244.10

256.05

258.25

260.40

RCOM

RELIANCE POWER
REC
SAIL

Neutral

-ve
+ve

69.60

68.70

68.00

67.35

70.00

70.70

71.35

SESA GOA

272.50

272.55

269.30

266.05

279.10

280.50

281.95

SHRIRAM TRANS.

932.30

910.90

899.95

888.95

939.60

953.95

968.30

-ve

SIEMENS

827.15

827.60

817.00

806.45

848.75

856.45

864.20

+ve

SBI

-ve
+ve

2445.70

2432.60

2418.65

2405.65

2460.45

2474.35

2487.35

SUN PHARMA

857.25

853.85

846.85

839.85

867.80

876.10

884.40

+ve

SUN TV

338.15

336.90

334.60

332.25

341.55

344.50

347.40

+ve

SYNDICATE BANK

109.15

108.40

107.05

105.80

111.10

112.40

113.70

Neutral

TATA CHEMICALS

399.40

398.00

394.50

391.00

405.00

409.25

413.45

+ve

TATA MOTOR DVR

345.10

339.95

337.70

335.50

346.80

350.20

353.60

-ve

TATA MOTORS

502.15

496.75

494.75

492.75

503.95

507.55

511.15

-ve

83.05

82.15

81.75

81.35

83.35

83.95

84.50

159.35

158.35

157.15

156.25

160.75

161.95

162.85

TATA POWER
TATA GLOBAL BEV.

Neutral

-ve
Neutral

TCS

2736.60

2704.30

2679.25

2654.20

2738.55

2755.65

2772.80

-ve

TECH MAHINDRA

2489.70

2474.80

2464.15

2453.65

2496.15

2506.85

2517.35

Neutral

TATA STEEL

459.05

452.45

448.55

444.60

460.90

465.10

469.30

-ve

TITAN IND.

407.95

406.65

403.70

400.70

412.55

416.60

420.65

+ve

UCO BANK

79.75

78.40

77.65

76.95

80.10

81.00

81.85

-ve

2631.65

2605.10

2593.75

2582.40

2630.60

2643.35

2656.10

-ve

UBI

188.80

184.30

181.90

179.50

190.20

193.15

196.10

-ve

UNITED BREW.

712.25

711.85

709.85

707.85

715.85

723.40

731.00

+ve

UNITED PHOSPH.

340.05

338.15

335.40

332.15

343.55

346.25

349.50

Neutral

18.85

18.15

17.85

17.55

19.10

19.55

20.00

-ve

AXIS BANK

377.70

374.20

372.30

370.40

378.80

381.10

383.40

-ve

TATA COMM.

358.40

357.35

355.45

352.45

361.10

362.95

365.95

Neutral

VOLTAS

241.60

241.85

239.50

237.15

246.50

248.40

250.30

+ve

ULTRATECH CEMENT

UNITECH

ICICI Securities Ltd. | Retail Equity Research

Page 11

SCRIP

CLOSE

S1

S2

S3

R1

R2

R3

TREND

WIPRO

596.80

595.75

593.05

590.35

601.15

604.80

608.45

+ve

NSE YES BANK

558.85

551.15

547.55

544.00

560.20

564.75

569.30

-ve

ZEE

314.15

312.35

308.60

304.90

319.85

321.65

323.45

+ve

NOTES:

Please execute the recommendation within the levels provided in the report
Once the recommendation is executed, it is advisable to keep strict stop loss as provided in the report
Avoid entering into the recommendation in the first 5 minutes of trade
If the recommendation opens near the target levels due to gap up/gap down opening, then the
recommendation is considered not initiated
The recommendations are valid only for the day and should be squared off by the end of the day
Only stocks in derivatives segment have been considered for daily trading
Medium to long-term prospects of a stock does not have any bearing on the daily 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 Daily Calls product carries 3 to 4 intraday recommendations. It is advisable to allocate
equal amount to each recommendation

ICICI Securities Ltd. | Retail Equity Research

Page 12

Recommended Trading Portfolio allocation

Products

Allocations
Product wise
Max allocation
allocation
in 1 stock

Return Objective
Number of Calls

Frontline Stocks

Mid-cap stocks

Duration

Daily Calls

8%

2-3%

3-4 Stocks

0.50-1%

2-3%

Intraday

Short term Delivery

6%

3-5%

7-10 p.m

4-5%

7-10%

Opportunity based

Weekly Calls

8%

3-5%

1-2 Stocks

5-7%

7-10%

1 Week

Weekly Technical

8%

3-5%

1-2 Stocks

5-7%

7-10%

1 Week

Monthly Call

15%

5%

2-3 Stocks

7-10%

10-15%

1 Month

Monthly Technical

15%

2-4%

5-8 Stocks

7-10%

10-15%

1 Month

Techno Funda

15%

5-10%

1-2 Stocks

10% and above

15% and above

6 Months

Technical Breakout

15%

5-10%

1-2 Stocks

10% and above

15% and above

3-6 Months

Cash in Hand

10%

100%

ICICI Securities Ltd. | Retail Equity Research

Page 13

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

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
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

ICICI Securities Ltd. | Retail Equity Research

Page 14

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

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ICICI Securities Ltd. | Retail Equity Research

Page 15