MARKET Diary

27-03-2017

Nifty Intraday Chart Market

KEY LEVELS
Market Value % Change
Support 1 : 9048 Morning Traded Market
SGX NIFTY 9,093.00 -0.20%
Resistance 1: 9147 NIKKIE 18985.71 -1.45%
Resistance 2: 9174
HANG SENG 24,292.79 -0.27%
Yesterday Closing Market
Sensex 29,421.40 0.30%
Nifty 9,108.00 0.24%
Market Outlook DOW 20,596.00 -0.29%
After starting with a red session, Nifty continuously NASDAQ 5,828.74 0.19%
fell to make a weekly low of 9019.30 on
Wednesday. However some pullback rally to 9133 CAC 5,020.90 -0.24%
Event Today was witnessed in last two trading sessions of the DAX 12,064.27 0.20%
week. At the end of the week the index closed at
9108. It had a net loss of 0.57% over the previous
FTSE 7,336.82 -0.05%
Board Meetings weeks close. The midcap and small cap indices out- EW ALL SHARE 16,524.57 0.18%
COLPAL : Interim Dividend performed the benchmark index and closed the % Change in 1 day
MINDTREE : Interim Dividend week in green. Commodity Price ( Yesterday Closing )
On the sectoral front, some buying interest was
ASIANOI : General Commodity/Currencies Value % Change
witnessed in Media stocks while other major
SUNSTAR REALTY : General indices closed in red. GOLD 28793.00 -0.02%
UNITEDBNK : General The government has informed that a total of Rs SILVER 41530.00 0.56%
877527 crores worth of agriculture credit have
CRUDEOIL 50.81 -0.22%
been disbursed in calendar year 2015-16 as against
Interim Dividend Rs 845328 crores in a year ago period. NATURALGAS 200.03 1.37%
COALINDIA : Rs 1.15 /- On the option front, maximum call open interest of DOLLAR/RS. 65.41 -0.24%
IBVENTURES : Rs. 1/- 65.85 lakh contracts was witnessed at strike price EURO/RS. 70.67 -0.14%
( Exdate : 27.32017) 9200 while the maximum put open interest of -0.38%
POUND/RS. 81.72
58.45 lakh contracts was built at strike price 9000.
% Change in 1 day
Yesterday fresh put and call writing was seen at
Spin Off strike prices 9000 and 9200 respectively. The option Institutional Turnover
PTL data suggest that Nifty to move in 9000-9200 zone FII
( Exdate : 27.32017) at least in the March expiry. Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
This week march series expiry will be key driver to 24-Mar-17 5352 4809 543
how market moves. Market appears to be giving
sign of the possibility of break up of current range Mar-17 76435 77484 (1049)
9000-9200 on the upside looking at initial built up in 2017 76435 77484 (1049)
April series. But we should be cautious as these are
early days and middle of April, Q4FY17 results
session will start and will be key guide for market DII
from thereon. Last week US house could not pass Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
Trump's healthcare bill and that puts doubt on infra
24-Mar-17 2903 2787 117
investment and tax cut plans of Trump.
Mar-17 49775 45264 4511
2017 49775 45264 4511

Quote of the Day : "The boom and the bust were normaljust two more swings in stock returns over the
past century. Reversion to the mean is the iron rule of the financial markets." John Bogle

Narnolia Securities Ltd

IEA Snapshot

SADBHAV "Book profit" 27th Mar 2017

Revenue growth in 9MFY17 remain subdued due to demonetization, slow execution of irrigation projects and delay in resolution of
services tax related issue at BCCL mining project. Work commencement of 3 new HAM projects will drive the revenue growth going
forward. At the current price level (2.95x P/B) we do not see much upside here on as the stock has discounted all near to mid term positive
traits. We recommended this stock at Rs. 277 for the target price of Rs. 315 and the stock has achieved our recommended target price. So
we advice our investors to Book profit at current level.

KEC Part Book profit" 24th Mar 2017

Revenue growth for 9MFY17 was subdued due to lower commodity prices and demonetization. But the operating margin continues to
accretive during the same period. We expect 5% and 15% revenue growth in FY17E and FY18E respectively based on the strong traction in
Transmission and railway business with strong operating margin. We recommended this stock at Rs. 148 for the target price of Rs. 185 and
the stock has achieved our recommended target price. So we advise our investors to Book part profit at current levels and considering the
lower interest outgo, strong revenue growth in Q4FY17 and efficient working capital management, investors may HOLD Remaining for
the revised target price of Rs.217.

*For details, refer to our daily report- India Equity Analytics

Top News
JSW Group will invest Rs 7,000 crore more in the ports sector
over next three years to create assets in the country as well as
abroad. The company is also looking at diluting up to 15 per
cent stake in the ports operating company, JSW Infrastructure .
Company will be investing Rs 9,000 crore more in the ports
sector till 2020 (including the Rs 2000 crore already invested)
SEBI banned Reliance Industries and 12 others from equity
derivatives trading for one year and directed the firm to
disgorge nearly Rs 1,000 crore for alleged fraudulent trading in a
10-year-old case. The case related to alleged fraudulent trading
in the F&O space in the securities of RIL's erstwhile listed
subsidiary Reliance Petroleum.
Reliance Capital announced the completion of transfer of its
commercial finance division into a separate wholly owned
subsidiary. Reliance Commercial Finance Ltd (RCFL) now stands
as a fully owned subsidiary of Reliance Capital
Jain Irrigation Systems said its shareholders have approved
the company's plans to raise up to USD 75 million by issuing
foreign currency convertible bonds (FCCBs). The shareholders
have approved for "issue of FCCBs up to USD 75 million to non-
promoter entities for redemption of FCCBs worth USD 50
million issued in 2012/2013 and balance USD 25 million fresh
issue for permitted use
The US drug regulator is set to begin an inspection of Dr.
Reddy's Srikakulam unit in Andhra Pradesh on March 27 . The
plant is very critical in terms of supplying active pharmaceutical
ingredients (APIs)
HDFC will raise Rs 3,300 crore by issuing the largest masala bonds in
the country. Under the USD 750 million MTN programme, the
Corporation launched an issue of Rs 2,000 crore ($306 million) plus a
greenshoe option ($198 million or Rs 1300 crore)
JSW Steel is keen to capitalise on the stress in the sector by acquiring
distressed alloy companies so that it can expand its capacity faster . The
company would be looking at acquiring distressed steel companies like
Monnet or Bhushan Steel.
Usha International expects sales of its mainstay sewing machines and
cooking appliances segment to grow by up to 25 per cent in 2017-18,
driven by expansion of network besides leveraging on e-commerce.
Company is eyeing a 50 per cent growth for cooking appliances and
around 10-12 per cent for sewing machines, so the total of the two
would be around 25 per cent
Hindustan Zinc said its 15 MW solar projects in Rajasthan will get
commissioned this month, and it is also planning to invest Rs 425 crore
for 85 MW power plants by next year. The Vedanta Group firm has
already invested 75 crore in 15 MW solar power projects . The company
is planning to pump in Rs 425 crore for 85 MW power plants
Hospira, a Pfizer company, has received 11 observations from the US
drug regulator for its unit at Visakhapatnam . An inspection by the US
Food and Drug Administration took place at the sterile injectables
manufacturing unit between March 9 and 17.
SBI will raise USD 1.5 billion from overseas bonds in one or more
tranches to fund business expansion. Central board approved "the
issuance of Reg-S/ stand alone rule 144A senior unsecured debt up to
USD 1.5 billion in multiple tranches or currencies with tenor not
exceeding 5.5 years during current year and 2017-18

Narnolia Securities Ltd

 F&O OPEN INTEREST ( Number of Contracts )
Individual Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers NSE Sectoral Indices Performance

TRADING IDEAS

Scrip Reco Initiation Price Target 1 Target 2 Stop Loss Rational

After getting a strong support near Rs 80,
the stock has given a sharp pullback rally on
WELSPUNIND Buy 86.6 93 98 80 Friday. The leading indicators are in oversold
zone, suggesting some fresh buy from the
current level

Short
Huge amount of open interest was built at
Nifty 9200 March (1 Lot
15.5 1 25 9200 March call option. So Nifty is very
CE =75) unlikely to breach 9200 in this expiry.

Narnolia Securities Ltd

 Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
27th Mar 17 28th Mar 17 29th Mar 17 30th Mar 17 31th Mar 17

Goods Trade Balance, Prelim Core PCE Price Index

Final GDP q/q ,
Wholesale Inventories m/m, m/m , Personal
Unemployment Claims ,
FOMC Member Evans S&P/CS Composite-20 HPI y/y FOMC Member Evans Speaks, Spending m/m ,
FOMC Member Kaplan
US Speaks , FOMC Member , CB Consumer Confidence , Pending Home Sales m/m,
Speaks , Natural Gas
Chicago PMI , FOMC
Kaplan Speaks. Richmond Manufacturing Crude Oil Inventories. Member Kashkari
Storage , Final GDP Price
Index , FOMC Member Kaplan Speaks , Revised UoM
Index q/q.
Speaks. Consumer Sentiment.

German Retail Sales

m/m , French
German Ifo Business Net Lending to Individuals m/m
Spanish Flash CPI y/y , Consumer Spending
Climate , M3 Money , M4 Money Supply m/m ,
UK/EURO ZONE Supply y/y , Private Loans
BOC Gov Poloz Speaks
Mortgage Approvals, German
German Prelim CPI m/m , m/m , German
Italian 10-y Bond Auction. Unemployment Change
y/y. Import Prices m/m.
, Current Account ,
Final GDP q/q

INDIA

Narnolia Securities Ltd

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