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Stock market special report by epic research 23rd september 2014
1. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
Global markets at a glance
Asian shares slipped on Tuesday as a periodic bout of angst over China combined with the U.S. dollar's recent meteoric run to pile pressure on commodity prices.
European shares fell on Monday, with a benchmark index retreating from the previous session's near-seven-year high. The FTSEurofirst 300 index of top European shares ended down 0.6% at 1,393.54pts. The index had climbed to near a seven-year high on Friday.
Wall Street Update
US stocks closed lower on Monday, with the S&P 500 suf- fering its biggest one-day decline since early August, as the latest housing data came in much weaker than expected, raising new concerns about the rate of growth in the econ- omy. Equities were also pressured after China's finance minister indicated the country would not increase stimulus measures in response to some weak data of its own. The Dow Jones industrial average fell 107.06 points, or 0.62 percent, to 17,172.68, the S&P 500 lost 16.11 points, or 0.8 percent, to 1,994.29 and the Nasdaq Composite dropped 52.10 points, or 1.14 percent, to 4,527.69. The day marked the biggest one-day decline for the S&P since August 5, and the biggest for the Nasdaq since July 31.
Previous day Roundup
After a major tiff with the bears, the market ended on a higher note. Market recouped early losses to finally end the session, with the Nifty gaining for the fourth straight day, led by index heavyweight ITC and auto major Tata Motors. The total market turnover for the day stood at 5.9 lakh crore, which is the fifth highest till date. Earlier in the day, after opening in the red, the benchmark index languished in the negative territory till early noon trades. The BSE benchmark had touched a low of 26,918 in intra-day trades. The Sensex was up 116.32 points at 27206.74, and the Nifty was up 24.85 points at 8146.30. About 1671 shares have advanced, 1381 shares declined, and 92 shares were unchanged.
Index stats
The sartorial indices performed as follow; Consumer Dur- ables [up 299.12pts], Capital Goods [down 29.97pts], PSU [up 49.56pts], FMCG [up 141.85pts], Realty [down 14.25pts], Power [down 12.60pts], Auto [up 198.33pts], Healthcare [down 125.22pts], IT [down 28.52pts], Metals [down 148.78pts], TECK [down 23.29pts], Oil& Gas [up 96.43pts].
World Indices
Index
Value
% Change
D J l
17172.68
-0.62
S&P 500
1994.29
-0.80
NASDAQ
4527.69
-1.14
EURO STO
3257.48
-0.48
FTSE 100
6773.63
-0.94
Nikkei 225
16205.90
-0.71
Hong Kong
23901.07
-0.23
Top Gainers
Company
CMP
Change
% Chg
TATAMOTORS
539.35
20.45
3.94
ONGC
418.95
14.95
3.70
ITC
371.00
11.60
3.23
BPCL
671.00
13.75
2.09
INDUSINDBK
642.45
12.35
1.96
Top Losers
Company
CMP
Change
% Chg
DLF
166.10
5.85
-3.40
ASIANPAINT
651.10
16.60
-2.49
TATASTEEL
499.05
11.95
-2.34
BHEL
221.40
5.10
-2.25
ZEEL
306.35
7.05
-2.25
Stocks at 52 Week’s high
Symbol
Prev. Close
Change
%Chg
ABB
1,234.90
7.95
0.65
BAJAJ-AUTO
2,413.00
0.65
0.03
ESCORTS
162.90
-1.30
-0.79
HEXAWARE
196.50
0.90
0.46
PETRONET
202.00
4.20
2.12
Indian Indices
Company
CMP
Change
% Chg
NIFTY
8146.30
+24.85
+0.31
SENSEX
27206.74
+116.32
+0.43
Stocks at 52 Week’s Low
Symbol
Prev. Close
Change
%Chg
CMAHENDRA
26.75
0.25
0.94
SUNTV
333.40
-10.20
-2.97
2. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
STOCK RECOMMENDATIONS [FUTURE]
1. PTC INDIA [FUTURE]
PTC INDIA FUTURE is looking strong on charts, long build up
has been seen, we may see more upside, if it sustains above
95 levels. We advise buying around 94-95 levels with strict
stop loss of 92 for the targets of 97-99 levels.
2. ITC [FUTURE]
ITC FUTURE is looking strong on charts, long build up has
been seen, we may see more upside, if it sustains above
370 levels. We advise buying around 368-370 levels with
strict stop loss of 365 for the targets of 373-375 levels.
EQUITY CASH & FUTURE
STOCK RECOMMENDATION [CASH]
1. GATI
GATI at 52 week high on daily chart. We advise buying
around 199-200 level with strict stop loss 195 for the tar-gets
203-207
MACRO NEWS
Public sector banks in India will need to raise up to USD 37
billion over the next 4-5 years to meet Basel III compli-ance
norms. The estimate is based on assumptions that
there would be a moderate recovery in the economy and
a gradual decline in the non-performing loans from the
current levels.
A wholly owned subsidiary of Reliance Industries Group,
has been launched into general syndication last Friday.
RECLTD on Monday sold three-year bonds of 26.10bn.
Finance Ministry and RBI officials are due to meet on Fri-day
to decide how much Crude the govt will need to bor-row
from the markets in the second half of the 2014/15.
The $1.5bn refinancing for Reliance Jio Infocomm rupees
($429m) at 9.06 percent.
India's state-owned steel producer Rashtriya Ispat Nigam
Ltd has filed draft papers for an initial public offer of 10%
of its shares.
Home prices set to zoom as Delhi government hikes circle
rates by 20 percent.
IIFL : Ex- dividend Rs 3/share - SKF India : Ex-dividend Rs
7.5/share.
3. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
FUTURE & OPTION
MOST ACTIVE PUT OPTION
Symbol
Op- tion
Type
Strike Price
LTP
Traded Volume (Contracts)
Open Interest
NIFTY
PE
8,100
16
7,59,712
62,47,850
NIFTY
PE
8,000
4.85
5,42,972
82,69,550
NIFTY
PE
7,900
2.1
2,27,334
52,23,550
BANKNIFTY
PE
16,000
32.9
57,441
4,03,625
SBIN
PE
2,550
9.8
9,385
8,18,000
TATASTEEL
PE
500
5.9
2,869
8,26,000
TATAMOTORS
PE
520
1.45
2,553
8,75,000
DLF
PE
170
5.35
2,531
14,48,000
MOST ACTIVE CALL OPTION
Symbol
Op- tion
Type
Strike Price
LTP
Traded Volume (Contracts)
Open Interest
NIFTY
CE
8,100
65.4
6,90,163
45,55,850
NIFTY
CE
8,200
13.8
6,88,697
77,58,850
NIFTY
CE
8,150
33.85
2,43,940
16,32,700
BANKNIFTY
CE
16,300
47.05
47,670
2,52,775
SBIN
CE
2,600
26.8
14,684
4,38,625
TATAMOTORS
CE
540
5.9
5,767
8,73,000
RELAINCE
CE
1,000
6.4
5,515
13,26,750
ICICIBANK
CE
1,600
6.2
4,808
7,23,500
FII DERIVATIVES STATISTICS
BUY
OPEN INTEREST AT THE END OF THE DAY
SELL
No. of
Contracts
Amount in Crores
No. of
Contracts
Amount in Crores
No. of
Contracts
Amount in
Crores
NET AMOUNT
INDEX FUTURES
134866
5500.30
131344
5335.37
347516
14199.54
164.92
INDEX OPTIONS
476114
19234.76
480312
19388.61
1744659
71036.88
-153.85
STOCK FUTURES
293882
10669.11
302421
10997.77
1328748
49373.84
-328.66
STOCK OPTIONS
71508
2800.57
72243
2864.69
91049
3340.23
-64.11
TOTAL
-381.70
INDICES
R2
R1
PIVOT
S1
S2
NIFTY
8,218.77
8,182.53
8,123.67
8,087.43
8,028.57
BANK NIFTY
16,413.88
16,304.22
16,162.68
16,053.02
15,911.48
STOCKS IN NEWS Pidilite Industries -To acquire adhesive business of Blue Coat for Rs 263.6 crore. Coal India scouting for locations for Rs 7,000 crore so- lar projects. GMR Infrastructure seeks SEBI nod for Rs 1,500 crore rights issue. IFCI to partially disinvest its shareholding in Tourism Finance Corporation. Engineers India secures consultancy contract from As- sam Petrochem
NIFTY FUTURE
Nifty Future closed flat in the last trading session. We advise buying around 8180 with strict stop loss 8130 the targets of 8230-8280
4. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
COMMODITY MCX
RECOMMENDATIONS
SILVER
TRADING STRATEGY:
BUY SILVER DEC ABOVE 39800 TGTS 40000,40300 SL 39500
SELL SILVER DEC BELOW 39250 TGTS 39050,38750 SL 39550
GOLD
TRADING STRATEGY:
BUY GOLD OCT ABOVE 26740 TGTS 26820,26920 SL 26660
SELL GOLD OCT BELOW 26460 TGTS 26380,26280 SL 26560
COMMODITY ROUNDUP
The international crude oil price of Indian Basket increased 0.37% to USD 107.49 a barrel (bbl) on May 16, 2014 as against USD 107.09 a bbl on May 15, 2014. In rupee terms, the price of Indian Basket decreased marginally to Rs 6,326.86 a bbl on May 16, 2014 as compared to Rs 6,368.64 a bbl on May 15, 2014. Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the OPEC.
The falling price of gold is expected to improve its demand and, hence, import. The sector estimates a rise in the latter of five to seven per cent in quantity over the coming months but not in value terms, due to the fall in price. Hence, the import bill is unlikely to be much higher. Import had risen in June to 97 tonnes, after the Reserve Bank granted permission to star trading and export houses. It then dipped to 45 tonnes in July and 50 tonnes in August, due to depression in demand.
Aluminium prices fell over one% to Rs 118.90 per kg in fu- tures trading yesterday as speculators reduced exposure amid weak global trend. At MCX aluminium for delivery in October declined by Rs 1.30, or 1.08%, to Rs 118.90 per kg in business turnover of 21 lots. Similarly, the metal for de- livery in the current month contracts traded lower by Rs 1.10, or 0.93%, to Rs 117.80 per kg in 162 lots. Speculators offloaded their positions in tandem with a weakness in metal at the LME and subdued domestic demand, which mainly influenced aluminium prices at futures trade.
Copper prices fell by 1.57% to Rs 414.05 per kg in futures trade yesterday as speculators trimmed positions amid weak cues from global markets and subdued domestic de- mand. At MCX, copper for delivery in far-month November fell by Rs 6.60, or 1.57%, to Rs 414.05 per kg in a business turnover of 1,632 lots. The fall in copper futures was mostly in line with a weakening trend overseas before data tomorrow that may show manufacturing slowed for a sec- ond month in China, the biggest consumer. Besides, low demand from domestic consuming industries too weighed on prices, they said. Globally, copper for delivery in three months retreated as much as 1% to USD 6,768.50 a tonne on the LME. Prices are down 8% this year, the most among the six main metals on the exchange.
5. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
RECOMMENDATIONS
DHANIYA
BUY DHANIYA OCT ABOVE 11750 TGTS 11780,11830 SL 11700
SELL DHANIYA OCT BELOW 11625 TGTS 11595,11545 SL 11675
GUARGUM
BUY GUARGUM OCT ABOVE 16330 TGTS 16380,16480 SL 16230
SELL GUARGUM OCT BELOW 16250 TGTS 16200,16100 SL 16350
NCDEX
NCDEX INDICES
Index
Value
% Change
Castor Seed
4349
+1.80
Chana
2789
-1.48
Coriander
11710
+1.01
Cotton Seed Oilcake
1385
+0.73
Guar Seed 10 MT
5701
+2.54
Jeera
10610
-0.47
Mustard seed
3609
-0.63
Soy Bean
3048
-2.21
Turmeric
5940
+1.19
NCDEX ROUNDUP
The department of sugar has called a meeting of cane com- missioners shortly to assess the sugar production for the new season to start from October 2014-September 2015. Following the fist advance estimates released by the minis- try of agriculture, there is concern that sugar production may not cross 24.5 million tones unlike the earlier estimate. Earlier the sugar production was estimated to be in the range of 24.5-25 million tonnes. First the demand and pro- duction of sugar is to be estimated based on this production estimates which again holds the key for decision to be taken on continuation of the subsidy to be given for the raw sugar production for exports.
The sowing of kharif crops showed a steady increase during this week. The total sown area as on 19th September, 2014 stands at 1015.18 lakh hectare as compared to 1040.85 lakh hectare at this time last year.
Krishi Vigyan Kendra(KVK), Panniyur, will start a participa- tory pepper rehabilitation project in the Kannur district in four panchayats next week and would launch a new initia- tive to encourage farmers to start mini nurseries in their homesteads to find a solution to the scarcity of pepper seedlings.
Maize futures have witnessed some buying from lower lev- els due to anticipation of weak kharif coarse cereals sup- plies in the current year coupled with strong demand by feedmiller in local mandies. The NCDEX futures increased by 0.46 percent yesterday.
6. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
GBP/INR
BUY GBP-INR ABOVE 99.6000 TGT 99.8000,100.1000 SL 99.3500
SELL GBP-INR BELOW 99.2000 TGT 99.0000,98.7000 SL 99.4600
USD/INR
SELL USD-INR BELOW 60.6500 TGT 60.4500,60.1500 SL 60.9000
BUY USD-INR ABOVE 61.0000 TGT 61.2000,61.5000 SL 60.7500
CURRENCY ROUNDUP
The Indian rupee ended little changed on Monday after gaining in each of the previous four sessions as investors turned more cautious a day before a preliminary survey on China's manufacturing sector. The partially convertible ru- pee ended at 60.8150/8250 per dollar, compared with its close of 60.81/82 on Friday.
The dollar hovered just below a four-year peak against a basket of major currencies early in Asia on Tuesday as the euro steadied near a 14-month trough with sellers taking a bit of a breather. The dollar index .DXY last traded at 84.699, having peaked at 84.861 on Monday, a high not seen since July 2010. It has posted 10 straight weeks of gains as markets wagered U.S. rates would rise long before those in Europe or Japan. The Canadian dollar was also un- der the pump in the wake of dovish comments from the central bank, which said interest rates may have to be lower than they have been historically for the economy to operate at full capacity.
The euro squeezed up to $1.2849 having plumbed a fresh 14-month low of $1.2816, prompting some traders to sus- pect it might correct higher as key support near $1.2800 loomed. Against the yen, the dollar was at 108.82 not far from a six-year high of 109.46 set on Friday. The euro fetched 139.85 yen in the middle of this year's 135.73- 145.08 range.
Long-dated Treasuries yields dipped to their lowest in over a week on Monday on the view that lingering weakness in U.S. economic data may force the Federal Reserve to main- tain a dovish stance on raising interest rates.
The RBIsaid on Monday it accepted all 33 bids for 100.66 billion rupees ($1.66 bn) at its one-day repo auction, through which it injects liquidity into the banking system. Indian banks' refinancing with RBI falls to 126.97 bn rupees. Indian banks' cash balances with RBI fall to 3.29 trn rupees.
RBI Reference Rate
Currency
Rate
Currency
Rate
Rupee- $
60.8055
Yen-100
55.7300
Euro
78.4695
GBP
100.0615
8. DAILY REPORT
23rd SEPTEMBER 2014
YOUR MINTVISORY Call us at +91-731-6642300
NEXT WEEK'S U.S. ECONOMIC REPORTS
ECONOMIC CALENDAR
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Disclaimer
TIME (ET)
REPORT
PERIOD
ACTUAL
CONSENSUS FORECAST
PREVIOUS
MONDAY, SEPT. 22
8:30 AM
CHICAGO FED NATIONAL ACTIVITY INDEX
AUG.
--
0.25 (3-MONTH)
10 AM
EXISTING HOME SALES
AUG.
5.22 MLN
5.15 MLN
TUESDAY, SEPT. 23
9 AM
FHFA HOME PRICES
JULY
--
5.1% YOY
9:45 AM
MARKIT "FLASH" PMI
--
57.9
WEDNESDAY, SEPT. 24
10 AM
NEW HOME SALES
AUG.
435,000
412,000
THURSDAY, SEPT. 25
8:30 AM
WEEKLY JOBLESS CLAIMS
SEPT. 20
N/A
N/A
8:30 AM
DURABLE GOODS ORDERS
AUG.
-14.0%
22.6%
FRIDAY, SEPT. 26
8:30 AM
GDP REVISION
Q2
4.7%
4.2%
9:55 AM
CONSUMER SENTIMENT
SEPT.
N/A
84.6