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1. 15.01.2018
Market commentary
Nifty January futures opened Tracking gains registered on Wall Street, Asian
markets along with Indian markets started on a high note. Sensex rallied over 300
points to hit a fresh record high of 34,963 and was just 40 points away from
hitting Mount 35K. The Nifty surpassed its crucial resistance level placed around
10,700 and 10,750 to record a fresh high of 10,782. The rally is not over and
investors should maintain their long positions on the Nifty as the rally is likely to
stretch towards 11000 ahead of the Budget, suggest experts.
Nifty may continue uptrend on tomorrow’s
trading session, 10800-10820 is the key resistance in spot. Bank nifty January
futures may trade strongly bullish on 26045. View still continues to be positive for
markets. However, the support for the week is seen at 10,500 while resistance is
seen at 10,830 for the Nifty index. Fin service sector may shine HDFC jumps up 2%
on fundraising plan; CLSA hikes target price by 16%.
Nifty Weekly Chart
Nifty
R2 R1 Pivot S1 S2
10911 10826 10697 10612 10483

2. Stock to Watch for Monday
Jubilant life science
Weekly Chart
Technical Analysis
Jubilant life was consolidating in a tight range on daily chart and formed Cup with
Handle is a bullish continuation pattern. Today the stock gave break out of the
pattern with heave volume and also closed above level of 830. It also breaks the
internal trend line resistance drawn from the highs of 28 APR 2017,
the first target of the saucer pattern is at 850 and 865 if the stock sustains above
845 it will go up to 860 to 880 in a short term period of 5 to 6 trading sessions.
Buy jubilant life between 830 and 835 for the intraday target of 850-865 with stop
loss below 800.

3. Market Highlights
 Shares of HDFC gained around 2 percent intraday on Monday as investors
cheered the NBFC’s fundraising plan. Over the weekend, it announced that
the Board had approved fund raising worth Rs 11,301 crore by issuing 6.43
crore shares at Rs 1,726.05 per share to investors, including global private
equity biggie GIC Singapore, KKR and Premji Invest.
 Capital First rose nearly 7 percent in early trade on Monday to hit a fresh
52-week high of Rs 895 after IDFC Bank announced its merger with the non-
banking financial company (NBFC) over the weekend. The share swap ratio
has been fixed at 139:10, which means 139 shares of IDFC Bank will be
allotted for every 10 equity shares of Capital First. Capital first is 35.97
percent owned by private equity firm Warburg Pincus, 13.91 percent
owned by GIC, while V Vaidya Nathan, also the Founder and Executive
Chairman, and holds the third largest stake at 10.5 percent.
 India's wholesale inflation eased marginally to 3.58 percent in December
after hitting an eight-month high of 3.93 percent in November. Latest price
data released by the commerce ministry today showed food prices,
especially vegetables, onions, eggs and fruits continued to rise, pulling up
the inflation level above three percent since August. The wholesale
inflation rate, measured by WPI, is a marker for price movements in bulk
buys for traders and broadly mirrors trends in shop-end prices.Food prices,
especially wheat, pulses, potatoes, oilseeds continued to plummet. Prices
of potatoes continued to fall during December, witnessing a dip of (-) 8.40
percent as farmers in some states have started dumping the tuberous crop
on streets due to excess supply.
Upcoming Results
Results on
Tuesday
TV 18 Broadcast, ICICI Lombard, Den Networks Ltd. Reliance Nippon
Life, Jay Bharat Maruti Ltd.,Syncom, Mafatlal Finance, SHK, Hatsun,
ATFL

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