The Nifty opened flat but failed to sustain gains and closed marginally lower due to profit-taking. Sentiment was positive due to a rise in exports and strong results from Reliance Industries. However, the market turned negative in the last hour ahead of the monsoon session of Parliament and hopes for GST bill passage. Technical indicators suggest the market may remain cautious with downside risk if the Nifty closes below 8,470. Bank Nifty also faces resistance at 19,100 and downside risk to 18,580 if support at 18,800 is broken.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness flat opening in Nifty around 8530 level on back of SGX
Nifty and other Asian counters which is trading on mixed note today.
Nifty wiped out all its early gains in last hour of trade to end marginally lower
on account of profit booking at higher level. After getting a gap-up start
market traded in narrow band with a gain of over half a percent as sentiments
remained optimistic on report that India’s exports in June rose 1.27 per cent
to $22.57 billion, snapping 18-month downward spiral to supported the
market. Some support also came with Reliance Industries reporting better-
than-expected Q1 numbers. The company reported 18 per cent jump in June
quarter net profit. Consolidated net profit at Rs 7,113 crore was 18.1 per cent
higher than Rs 6,024 crore in the same period last fiscal. However, market
turned entered into negative terrain in last leg of trade as traders opted to
book profit at higher level keeping a close watch on the monsoon session of
Parliament which started today amid hopes the government will be able to
pass the Goods and Services Tax Bill that is now stuck in the Upper House.
Some cautiousness crept in with the industry body Assocham’s statement
that government and the main opposition party should get the long-stalled
Constitutional Amendment Bill on GST passed in the Rajya Sabha in first few
days of the monsoon session of Parliament. On global front, Asian markets
ended mostly in green following a failed coup attempt in Turkey as energy
and financial companies advanced. European markets, after a positive start,
were exhibiting mixed trend.
The top gainers in Nifty index were BAJAJ-AUTO, KOTAKBANK, SUNPHARMA,
INFRATEL, AXISBANK. While on the other hand, top losers were IDEA, ONGC,
BHARTIARTL, BANKBARODA, HINDUNILVR.
19th July,2016
SENSEX 27,747 -0.32%
NIFTY 8,509 -0.38%
SGX Nifty* 8,542 0.26%
Global Indices
Dow Jones 18,533 0.09%
Nasdaq 5,056 0.52%
FTSE 6,695 0.39%
DAX 10,063 -0.04%
Straits Times 2,908 -0.73%
Nikkei 225 16,576 0.47%
Hang Seng 21,683 -0.55%
Commodities
Gold 31,015 0.12%
Silver 47,167 -0.23%
Natural Gas 184 -0.16%
Crude Oil 3,106 -1.38%
Currency
Dollar / Rupee 67.20 0.21%
Euro / Rupee 74.44 0.16%
Pound / Rupee 88.87 -0.12%
Volumes Rs.mn
Cash BSE 59,448 51.90
Cash NSE 174,254 -23.76
FII Activities Rs.Cr.
Purchase Sale Net
6549.69 4,886 1663.97
MF Activities Rs.Cr.
Purchase Sale Net
6431.2 4,135 2296.5
Indian Markets
*Sources- Bloomberg, Moneycontrol, Zeebusiness, livemint

2. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Outlook
Bank Nifty Outlook
19th July,2016
L1 L2 L3
R 8566 8623 8659
S 8473 8437 8380
21 DEMA 8320
50 DEMA 8150
100 DEMA 7869
Moving Averages
L1 L2 L3
R 19093 19262 19366
S 18820 18716 18547
21 DEMA 18061
50 DEMA 17582
100 DEMA 16607
Moving Averages
 Taking cues from global market Nifty opened on positive note and tried to test 8600 mark but that short
lived attempt and failed to cross above its previous high.
 Considering past 5 to 6 trading session, Nifty moved on higher side but in last candle Nifty failed to form
earlier high and close below earlier low. It is first minute sign of negativity.
 Looking at weekly chart Nifty is trading at upper line of rising wedge as well as 8620 to 8650 level acted
as previous reversal area.
 Momentum oscillator RSI has reverted from overbought region, recent reading is posted as 66 level.
 Going forward, Seeing structure of index we need to be cautious for our long positions, negative bias
will prevail once nifty sustain below 8470 level.
 Bank Nifty kept its head high till mid session of the day buy in later part of trading session it lost its
ground and close below 19000 level.
 Bank Nifty has formed shooting start at key reversal area. Index has faced multiple resistance at 19100
level. In following session if bank nifty closes below previous candle then it will add negative sentiment
to on-going move.
 Volume has risen at higher level at crucial level. Any further selling supported with volume will indicate
nervousness in index.
 Going forward sustainability above 18800 level can lead to negativity till 18580 level.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The VIX increased by 0.24% and reached 15.98. The 50-share Nifty
was up by 32.70 points or 0.38% to settle at 8,508.70.
Nifty July 2016 futures closed at 8520.50 on Monday at a
premium of 11.80 points. Nifty July futures saw contraction of 0.13
million units, taking the total outstanding open interest (OI) to
22.37 million units. Among Nifty calls, 8600 SP from the July month
expiry was the most active call with an addition of 0.77 million
open interests. Among Nifty puts, 8500 SP from the July month
expiry was the most active put with an addition of 0.10 million
open interests. The maximum OI outstanding for Calls was at 8700
SP 5.12 mn and that for Puts was at 8400 SP 5.60 mn. From the
most active contracts, SBI July 2016 futures traded at a premium of
0.10 points at 228.70. ICICI Bank of July 2016 futures traded at a
premium of 1.00 points at 264.00. PNB July 2016 futures traded at
a discount of 0.10 points at 132.00. Tata Motors July 2016 futures
traded at a premium of 2.10 points at 492.85. Tata Steel July 2016
futures traded at a discount of 5.80 points at 358.75
The Nifty PCR finally stood at 1.11 for July month contract. The top
five scrips with highest PCR on OI were HDFC (1.37), GRASIM
(1.37), MARUTI (1.35), HEROMOTOCO (1.24) and CANBK (1.14).
19th July,2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
UNITECH 8.25 1.23 6.13 8.61
CESC 602.85 2.67 5.47 612.09
APOLLOTYRE 160.55 2.33 5.05 162.25
DHFL 217.7 0.62 4.06 220.43
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
CROMPGREAV 70.85 0.78 -6.78 71.54
UBL 790.00 0.92 -6.25 797.79
ASHOKLEY 93.00 1.14 -5.12 93.71
HEROMOTOCO 3257.05 0.66 -4.35 3277.64
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
MINDTREE 607.30 -4.98 35.09 619.52
ICIL 868.70 -5.08 13.13 892.35
WIPRO 551.70 -0.57 11.95 554.93
ACC 1601.5 -1.12 7.12 1611.79
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
HINDZINC 189.35 -3.64 -11.92 194.01
UNIONBANK 138.70 -1.00 -9.09 140.99
JINDALSTEL 68.95 -5.22 -7.60 71.03
CANBK 244.60 -3.13 -6.64 249.97

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
19th July,2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1595 1619 1590 1595 1601 1584 1573 1544 Down Sell
ADANIPORTS 217 223 216 217 219 214 212 205 Down Sell
AMBUJACEM 260 263 259 260 260 258 257 253 Down Sell
ASIANPAINT 1030 1045 1025 1030 1033 1022 1014 994 Down Sell
AUROPHARMA 751 765 747 751 754 744 736 718 Down Sell
AXISBANK 570 577 569 570 572 567 564 556 Down Sell
BAJAJ-AUTO 2755 2763 2706 2755 2741 2720 2684 2627 Up Buy
BANKBARODA 159 167 158 159 161 156 153 144 Down Sell
BHARTIARTL 363 380 361 363 368 356 349 330 Down Sell
BHEL 140 145 139 140 141 137 135 129 Down Sell
BOSCHLTD 24100 24177 23800 24100 24026 23874 23649 23272 Up Buy
BPCL 554 563 552 554 556 549 545 534 Down Sell
CIPLA 507 517 505 507 510 502 498 486 Down Sell
COALINDIA 321 324 319 321 321 318 316 311 Down Sell
DRREDDY 3561 3610 3544 3561 3572 3533 3506 3440 Down Sell
EICHERMOT 19907 19999 19800 19907 19902 19805 19703 19504 Up Buy
GAIL 387 399 386 387 391 382 377 363 Down Sell
GRASIM 4786 4849 4772 4786 4802 4756 4726 4649 Down Sell
HCLTECH 724 725 715 724 721 718 711 702 Up Buy
HDFC 1345 1386 1338 1345 1356 1326 1308 1260 Down Sell
HDFCBANK 1225 1239 1223 1225 1229 1219 1213 1197 Down Sell
HEROMOTOCO 3252 3295 3240 3252 3262 3230 3207 3152 Down Sell
HINDALCO 137 141 136 137 138 135 133 128 Down Sell
HINDUNILVR 911 947 910 911 923 898 886 849 Down Sell
ICICIBANK 263 271 263 263 266 260 257 248 Down Sell
IDEA 105 113 103 105 107 101 97 87 Down Sell
INDUSINDBK 1130 1145 1127 1130 1134 1123 1116 1099 Down Sell
INFRATEL 357 359 351 357 356 352 347 339 Up Buy
INFY 1081 1085 1055 1081 1074 1062 1044 1014 Up Buy
ITC 249 250 248 249 249 247 246 244 Down Sell
KOTAKBANK 780 783 769 780 777 772 764 750 Up Buy
LT 1575 1604 1565 1575 1581 1559 1543 1504 Down Sell
LUPIN 1665 1690 1660 1665 1672 1654 1643 1614 Down Sell
M&M 1468 1482 1464 1468 1471 1460 1453 1435 Down Sell
MARUTI 4456 4564 4432 4456 4484 4404 4352 4220 Down Sell
NTPC 155 157 155 155 156 154 153 151 Down Sell
ONGC 218 229 217 218 221 214 210 198 Down Sell
POWERGRID 163 166 163 163 164 162 161 157 Down Sell
RELIANCE 1003 1039 1002 1003 1014 990 977 940 Down Sell
SBIN 229 234 228 229 230 227 225 219 Down Sell
SUNPHARMA 778 781 771 778 777 772 766 756 Up Buy
TATAMOTORS 491 505 490 491 495 486 480 465 Down Sell
TATAMTRDVR 313 322 313 313 316 310 306 297 Down Sell
TATAPOWER 71 72 70 71 71 70 69 67 Down Sell
TATASTEEL 365 379 364 365 369 359 353 337 Down Sell
TCS 2431 2469 2431 2431 2444 2418 2405 2367 Down Sell
TECHM 505 510 503 505 506 502 499 492 Down Sell
ULTRACEMCO 3500 3548 3483 3500 3510 3473 3445 3380 Down Sell
WIPRO 551 554 545 551 550 546 541 532 Up Buy
YESBANK 1174 1184 1170 1174 1176 1168 1162 1148 Down Sell
ZEEL 462 475 460 462 466 457 451 436 Down Sell

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Contact Us
www.choiceindia.com
Kunal Parmar
Research Associate
kunal.parmar@choiceindia.com
Vikas Chaudhari
Research Associate
vikas.chaudhari@choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial
instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in
any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but
Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast
future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations
issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility
or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without
notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended
purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may
be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is
strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current
performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee
against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock /
Instrument (s): - No.
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
19th July,2016
Kapil Shah
Research Associate
kapil.shah@choiceindia.com
Kapil Shah
Digitally signed by Kapil Shah
DN: cn=Kapil Shah, o=Choice Equity Pvt Ltd,
ou=Research Team,
email=kapil.shah@choiceindia.com, c=US
Date: 2016.07.19 09:02:58 +05'30'