The document provides an analysis of the Indian stock market on September 20th, 2016. It notes that the Nifty index opened mildly negative but ended the day with a gain of 0.32%. It discusses some positive factors like the implementation of GST and reform initiatives by the Indian government. The analysis also covers global market performances, commodity prices, and derivative analysis. Technical indicators suggest the Nifty may face resistance around 8840-8860 and support at 8750. Bank Nifty is expected to maintain a positive bias with support at 19700. Overall, the market showed a mixed performance and volatility is expected to continue in the near term.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness mild negative opening in Nifty around 8786 level on
back of SGX Nifty and other Asian counters which is trading on mixed note
today.
Nifty traded in green throughout the day and ended the session with a gain of
one third of a percent, recapturing its crucial 8,800 mark, ahead of central
bank meetings in the United States and Japan this week. After a positive start,
market hold on to its gains and traded in tight band till end of the session, as
traders took some encouragement with DIPP Secretary Ramesh Abhishek’s
statement that implementation of the goods and services tax (GST) is bound
to be a game changer for India’s manufacturing sector and will enhance ease
of doing business in the country. Some support also came with report that
Finance Ministry officials are expected to pitch a ratings upgrade to Moody’s
by stressing upon the various reform initiatives taken by the Narendra Modi
government, including the GST, bankruptcy code and inflation targeting
through the monetary policy committee, among others. Positive opening in
European counterparts too provided strength to domestic market. On the
global front, Asian markets ended the session on a firm note as hopes of BOJ
easing, positive home price data from China and rallying oil prices helped
investors shrug off news related to possible terrorist attacks in the United
States. Chinese shares rose notably as traders returned from the mid-autumn
festival long weekend. New home prices, excluding subsidized housing, rose
in August in 64 out of 70 cities tracked by China’s statistics bureau, compared
with 51 cities in July. Another report from the country's central bank showed
that confidence among Chinese entrepreneurs has picked up for the second
quarter in a row in 2016. Meanwhile, European markets were up on Monday,
led by commodity shares, putting the benchmark on course for its strongest
gain in more than two weeks.
The top gainers in Nifty index were INDUSINDBK, AUROPHARMA,
TATAPOWER, AMBUJACEM, TCS. While on the other hand, top losers were
MARUTI, BAJAJ-AUTO, AXISBANK, HEROMOTOCO, HDFCBANK.
20th September, 2016
SENSEX 28,635 0.12%
NIFTY 8,808 0.32%
SGX Nifty* 8,803 -0.25%
Global Indices
Dow Jones 18,124 -0.49%
Nasdaq 5,235 -0.18%
FTSE 6,814 1.52%
DAX 10,374 0.94%
Straits Times 2,847 -0.19%
Nikkei 225 16,538 0.11%
Hang Seng 23,465 -0.36%
Commodities
Gold 30,813 -0.31%
Silver 45,273 -0.81%
Natural Gas 198 1.06%
Crude Oil 2,943 -2.17%
Currency
Dollar / Rupee 66.98 0.00%
Euro / Rupee 74.78 -0.08%
Pound / Rupee 87.28 0.07%
Volumes Rs.mn
Cash BSE 36,158 -19.77
Cash NSE 192,264 -39.32
FII Activities Rs.Cr.
Purchase Sale Net
11806.29 10,754 1052.17
MF Activities Rs.Cr.
Purchase Sale Net
9524.5 5,641 3883.7
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
20th September, 2016
L1 L2 L3
R 8830 8852 8881
S 8780 8752 8730
21 DEMA 8749
50 DEMA 8615
100 DEMA 8399
Moving Averages
L1 L2 L3
R 19998 20088 20162
S 19833 19759 19668
21 DEMA 19714
50 DEMA 19160
100 DEMA 18410
Moving Averages
 Nifty opened on positive note and moved with strength in initial hour, but in later part of the day it has
grinded in narrow range.
 From past couple of day index is trading with high volatility but day on day its momentum is not
picking in either direction.
 It shows time wise correction with timid volume but based on technical evidences index still seems to
be in positive momentum as it is operating above 21 day moving average and sustaining above slope
of trend line.
 Going forward, mild resistance can be in vicinity of 8840 to 8860 range and on downside support lies
at 8750 level.
 BankNifty opened on positive note but not able to sustain at higher level, strong selling has emerged
from higher level.
 On weekly chart index has formed Doji candle which shows indecisiveness at higher level.
 Index is trading above its 21 day short term moving average but after good move mild profit taking has
been observed in PSU banks and some leading private sector bank.
 Going forward, mild positive bias can be maintain with upside potential of 20100 and immediate
support lies at 19700 level.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The India VIX addition by 2.47% and reached 14.94. The Nifty
was up by 28.55 points or 0.33% to settle at 8,808.40.
From the most active contracts, State Bank of India September
2016 futures traded at a premium of 1.30 points at 256.80
compared with spot closing of 255.50. ICICI Bank September
2016 futures traded at a premium of 0.75 points at 272.45
compared with spot closing of 271.70. Axis Bank September
2016 futures traded at a premium of 1.70 points at 596.70
compared with spot closing of 595.00. Tata Motors September
2016 futures traded at a discount of 0.20 points at 554.80
compared with spot closing of 555.00. Reliance Industries
September 2016 futures traded at a premium of 1.40 points at
1084.15 compared with spot closing of 1,082.75.
The Nifty PCR finally stood at 1.26 for September month
contract. The top five scrips with highest PCR on OI were MRF
(2.67), GODREJCP (1.36), MARUTI (1.31), GRASIM (1.25) and
CENTURYTEX (1.17).
20th September, 2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
IBREALEST 93.00 6.59 20.56 Long BU
APOLLOTYRE 222.25 3.93 13.18 Long BU
CEATLTD 1127.45 5.79 11.69 Long BU
VOLTAS 392.4 3.21 8.69 Long BU
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
CENTURYTEX 894.00 2.85 -8.36 909.32
TCS 2412.90 2.02 -7.81 2441.47
PETRONET 339.50 1.60 -5.86 342.63
BHARATFORG 904.25 3.19 -5.25 921.21
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
CASTROLIND 420.00 -5.27 31.84 429.36
UPL 685.65 -1.37 9.40 693.56
JUBLFOOD 1009.25 -3.39 8.21 1027.11
IRB 245.8 -0.83 4.73 248.13
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
WOCKPHARMA 891.80 -2.02 -16.02 909.81
TVSMOTOR 337.70 -0.46 -4.83 342.07
HDIL 88.40 -1.06 -3.53 91.11
EICHERMOT 23138.60 -0.15 -2.27 23254.23
INFOSYS CALL RATIO SPREAD
View - Moderate Bullish
Max. Profit of 32.86 (Rs. 16430), Approx. Loss of 7.14
(Rs. 3570) at SL level 1120
Expiry Date - 29th September, 2016
BUY /
SELL
QTY
STRIKE
PRICE
SERIES
OPTION
TYPE
Premium
BUY 500 1040 SEP CE 31.35
SELL 500 1080 SEP CE 12.10
SELL 500 1080 SEP CE 12.10

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
20th September, 2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1647 1685 1672 1659 1646 1634 1620 1594 Up Buy
ADANIPORTS 275 287 282 279 274 271 266 258 Up Buy
AMBUJACEM 268 276 272 270 266 264 261 255 Up Buy
ASIANPAINT 1161 1184 1178 1170 1163 1155 1149 1134 Down Sell
AUROPHARMA 806 830 818 812 800 794 782 764 Up Buy
AXISBANK 595 616 611 603 598 590 585 572 Down Sell
BAJAJ-AUTO 2945 3064 3038 2992 2966 2919 2893 2821 Down Sell
BANKBARODA 166 170 169 168 167 165 164 162 Down Sell
BHARTIARTL 324 330 327 326 323 322 319 315 Up Buy
BHEL 147 151 150 149 148 146 145 142 Down Sell
BOSCHLTD 23390 23805 23627 23509 23331 23213 23035 22739 Up Buy
BPCL 586 597 592 589 584 581 577 569 Up Buy
CIPLA 598 607 604 601 597 594 590 583 Up Buy
COALINDIA 328 335 332 330 327 325 322 317 Up Buy
DRREDDY 3153 3206 3190 3172 3156 3138 3122 3089 Down Sell
EICHERMOT 23150 23655 23494 23322 23161 22989 22828 22495 Down Sell
GAIL 387 399 396 392 389 385 383 376 Down Sell
GRASIM 4860 4968 4936 4898 4867 4828 4797 4727 Down Sell
HCLTECH 789 814 806 798 790 781 773 757 Down Sell
HDFC 1395 1417 1409 1402 1394 1387 1379 1364 Up Buy
HDFCBANK 1290 1313 1308 1299 1293 1284 1279 1264 Down Sell
HEROMOTOCO 3556 3664 3640 3598 3575 3533 3509 3444 Down Sell
HINDALCO 144 148 146 145 143 142 140 138 Up Buy
HINDUNILVR 911 932 927 919 914 906 901 887 Down Sell
ICICIBANK 272 278 275 274 271 269 266 261 Up Buy
IDEA 85 87 86 86 85 84 84 82 Down Sell
INDUSINDBK 1202 1259 1233 1217 1191 1176 1149 1107 Up Buy
INFRATEL 350 359 355 353 349 346 343 336 Up Buy
INFY 1061 1100 1085 1073 1057 1045 1029 1002 Up Buy
ITC 260 266 264 262 260 258 256 251 Down Sell
KOTAKBANK 802 823 818 810 804 797 791 778 Down Sell
LT 1479 1517 1504 1491 1478 1465 1452 1426 Up Buy
LUPIN 1546 1587 1573 1559 1545 1531 1517 1489 Up Buy
M&M 1418 1452 1441 1429 1418 1407 1396 1373 Down Sell
MARUTI 5497 5633 5601 5549 5517 5465 5433 5349 Down Sell
NTPC 154 159 158 156 154 153 151 148 Down Sell
ONGC 255 262 259 257 253 251 248 243 Up Buy
POWERGRID 177 183 181 179 177 175 173 169 Up Buy
RELIANCE 1083 1107 1098 1090 1081 1073 1064 1047 Up Buy
SBIN 256 261 259 258 256 254 253 250 Down Sell
SUNPHARMA 782 797 793 788 784 778 775 766 Down Sell
TATAMOTORS 554 564 560 557 553 550 546 539 Up Buy
TATAMTRDVR 351 362 359 355 352 348 345 338 Down Sell
TATAPOWER 77 82 79 78 76 75 73 70 Up Buy
TATASTEEL 362 374 369 365 360 357 352 343 Up Buy
TCS 2411 2519 2473 2442 2396 2365 2319 2242 Up Buy
TECHM 466 483 479 473 469 462 458 448 Down Sell
ULTRACEMCO 3997 4150 4078 4037 3965 3924 3852 3739 Up Buy
WIPRO 482 489 486 484 480 478 474 468 Up Buy
YESBANK 1180 1235 1214 1197 1176 1159 1138 1100 Up Buy
ZEEL 525 540 534 530 524 519 514 504 Up Buy

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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20th September, 2016
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Date: 2016.09.20 09:12:14 +05'30'