Indian markets could open flat and be range-bound with a positive bias. Banks, Auto, FMCG, IT could relatively outperform. Immediate support for Nifty is at 8265 level, while immediate resistance is at 8350 level.

1. Key Indices Nov 03 % Chg
Sensex 27860 -0.02
Nifty 8324 +0.02
BSE 500 10622 +0.26
DJIA* 17384 +0.10
Nasdaq* 4264 -0.33
MSCI Emerging Markets* 1007 -0.32
MSCI AC Pacific* 139 +1.38
MSCI World* 1698 -0.05
*= in USD and of 4th Nov
Sectoral Indices Nov 03 % Chg
Major Gainers
BSE Realty 1609 +3.61
BSE Bankex 19595 +0.46
Major Losers
BSE CD 9729 -1.48
BSE Auto 18415 -0.88
Top Gainers
(BSE-100) CMP (Rs) % Chg
UNITECH 22.55 +10.27
JPASSOCIAT 32.90 +5.79
HDIL 88.00 +5.71
Top Losers
(BSE-100) CMP (Rs) % Chg
GAIL 499.00 -5.70
DIVISLAB 1804.95 -3.57
NMDC 165.85 -2.93
52 Week High Price (Rs)
APCOTEXIND 426.50
BLUEDART 5625.35
52 Week Low Price (Rs)
ANGL 209.65
MANJEERA 49.45
Turnover (Rs bn) NSE BSE
Nov 03 173.32 -
5 days average 178.02 -
Advance-Decline NSE BSE
Nov 03 2.01:1 1.58:1
5 days average 1.72:1 1.36:1
Volatility Index (ViX) Nifty CBOE
Nov 03 13.74 14.89
5 days average 13.32 14.62
Net Flows (Cr) Debt FII FII MF
Oct 31 319.8 1906.7 -
Cumulative for
Oct 17452.4 895.3 -
5 days average 839.8 822.0 -
Interest Rates 3 month Chg bps
MIBOR 8.76 +1.00
10 yr bond yield 8.26 -2.00
LIBOR – UK* 0.55 0.00
LIBOR – USA* 0.23 0.00
LIBOR – Europe* 0.06 0.00
Exchange Rates Value % Chg
USD/INR 61.41 +0.01
USD/EURO* 0.80 -0.41
USD/YEN* 113.67 -0.09
USD/POUND* 0.63 -0.10
Other# Value % Chg
RJ/CRB Index* 267.48 -1.11
Gold ($ / Oz)* 1167.70 -0.18
Crude Oil ($ / Barrel)* 77.19 -2.02
Brent Oil ($ / Barrel) - -
Morning Note
Market Round Up Nov 05, 2014
Indian Markets
 The 30-share Sensex ended down 5 points 27,860 and the 50-share Nifty ended up 2 points
at 8,324. The broader markets continued to hold investor interest.
 The mid and smallcap indices were up well over 1% each, outperforming the BSE
benchmark index which was down 0.1%. NSE cash turnover was at Rs. 17325.
 On the sectoral front, Auto, Consumer Durables indices were down upto 1.6% along with
Metal and Oil adn Gas indices down 0.2% each. Among the ones in green, Realty index was
the top gainer, up 3.7% followed by Health Care and Banking index up 0.4% each.
 As per provisional figures on Monday, FIIs were net buyers of Rs 1413 cr in the cash market
and net buyers of Rs 134 cr in F&O markets. DIIs were net sellers of Rs 1183 cr in the cash
market.
US & European Markets
 The continued slide in oil prices sent energy stocks lower Tuesday, as the broader stock-market
indexes made modest moves amid mixed earnings. The Dow Jones Industrial
Average advanced to close within striking distance of a new all-time high. It gained 17.60
points, or 0.1%, to 17383.84, just shy of its record of 17390.52 reached on Oct. 31. The S&P
500 lost 5.71 points, or 0.3%, to 2012.10 and the Nasdaq Composite Index declined 15.27
points, or 0.3%, to 4623.64.
 European stocks ended lower. FTSE 100 in London & DAX 30 in Germany fell by 0.5% &
0.9% respectively, while CAC 40 in France fell by 1.9%.
 Most of the ADRs ended positive. Banking stocks, HDFC Bank was up 0.3% while ICICI
Bank was up 1.7%. Infosys was almost flat while Wipro was down 0.3%. Tata Motors was
up 0.7% while Dr Reddy’s was up 0.1%.
Latin American Markets
 Among the Latin American markets, Shares in Mexico was down 0.7% while Brazil Bovespa
was up 0.8%.
Asian Markets
 Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai
Composite is off 0.46% while the Hang Seng is down 0.54%. The Nikkei 225 is not trading.
 As of IST 8.40 am SGX Nifty is trading higher by 30 points over Monday’s close
Currencies
 The Indian rupee on Monday depreciated by four paise to close at 61.4 against the
greenback on moderate dollar demand from importers, amid some hesitancy in equities.
 The euro firmed against the dollar on Tuesday after softer-than-expected U.S. factory orders
gave investors excuse to sell the greenback for profits. In U.S. trading, EUR/USD was up
0.65% at 1.2566, up from a session low of 1.2481 and off a high of 1.2571.
Commodities
 Oil for Dec 2014 contract declined by 2% at $77.2/barrel.
 Gold for Dec 2014 delivery fell by 0.2% at $1167.7/troy ounce.
Key Events for Today
 China – HSBC Services PMI
 Japan – Monetary base
 Germany, EU – Services PMI
 EU – Retail Sales
 US – MBA Mortgage Index, ISM non-manufacturing PMI, business activity, Crude Oil
inventories
Key Events for Tomorrow
 US – Chain Store Sales, Challenger Job cuts, Continuing & Initial Jobless Claims, Non farm
productivity
 Japan – Leading Index
 UK – Industrial & Manufacturing production, Interest Rate decision
 EU – Interest Rate decision
Outlook
Indian markets could open flat and be range-bound with a positive bias. Banks, Auto, FMCG, IT
could relatively outperform. Immediate support for Nifty is at 8265 level, while immediate
resistance is at 8350 level.
For fresh and / or open calls refer to page 4
Retail Research 1

2. Technical Analysis – Market Pulse Nov 05, 2014
Nifty Perspective Support Resistance 21 Day EMA Stock Pick
8324.15 Consolidation 8265 - 8220 8350 - 8410 8035 Auto Axles
Nifty Trend Target Reversal
Near Term (1-7 days) Up 8410 8265
Short Term (7-21 days) Up 8550 - 8600 8115
Bulls went for Holiday.
 Day’s action formed a Hammer candle at the resistance zone which could halt the bulls temporarily; they could resume their
momentum only on a rise above 8350.
 Technically, index has taken the breather after the sustained rally of about 4 trading days, the sideways moment has cooled off
the hourly oscillators which could create further upside room. Index has exactly tested the 100% projection level at 8350 and
consolidated at higher level. From here only on rise above 8350 next rising leg could resume towards 161.8% projection level i.e.
placed at 8550 – 8600 levels.
 As the index has formed a Hammer candle any fall below 8290 would lead to minor correction in the market towards 8220 – 8180
levels in the near term. However this will not change the short term price direction. Bulls could resume their momentum after minor
correction or on rise above 8350.
 Index is in the progress of five wave advance in which two legs have completed and now price is in the sub-division of third wave.
Broader price structure and formations are still in favor of bulls and the index is trading above the all key moving averages. The
trend reversal or stop remains at 8115 for short term bullish setup.
Retail Research 2

3. News Flash Nov 05, 2014
Economy News
 The Congress has decided to back three crucial economic reform legislation that
the National Democratic Alliance (NDA) will bring in the winter session of
Parliament beginning November 24. These are the constitution amendment Bill for
implementing the Goods & Services Tax (GST), the insurance laws (amendment)
Bill and the coal ordinance.
 Knitwear garment exports from Tirupur have touched Rs 10,050 crore in the first six
months of this fiscal, registering a 16 per cent increase over the figure of Rs 8,650
crore seen in the corresponding period in 2013-14.
Corporate News
 Dabur India Ltd reported 15.11% increase in consolidated net profit at Rs 287.48
crore for the second quarter ended September 30, 2014-15. Dabur's Q2, 2014-15
net sales went up by 10.35% at Rs 1,924.09 crore. The domestic FMCG business
continued to perform ahead of the industry and has ended the quarter with an 8.7%
volume growth
 Ashok Leyland has reported a 43% growth in M&HCV sales during the month of
October at 5,838 units as compared to 4,093 units, a year ago. Light Commercial
Vehicle (LCV) sales dropped by 6% to 2,537 units from 2,710 units. Total sales of
the company grew by 23% to 8,375 units from 6,803 units.
 The country's largest car maker, Maruti Suzuki India launched the new generation
of its small car Alto K10 that comes equipped with automated gear shift and is
priced up to Rs 3.82 lakh (ex-showroom Delhi).
 GAIL (India) Ltd has extended by over a month the deadline for submission of bids
for 9 newly built LNG ships it wants to hire to transport liquid gas from the US. In a
notice, GAIL said the last date for bidding has been extended till December 4 from
October 30 previously.
 Coal India Ltd (CIL) produced 40.20 million tonnes (MT) of coal in October,
beating its target of 39.74 MT for the month. However, the company missed its
output target of 259.85 MT for the first seven months of the current fiscal, producing
250.96 MT of coal.
 Tata Motors is on a fundraising spree as it faces increased capital expenditure for
expanding its product development pipeline. The company is expected to raise an
additional Rs 300 crore through the sale of bonds carrying a 9.35% coupon rate
that is expected to hit the market shortly.
 Bank of India (BoI) reported 26.41% growth in net profit at Rs 786 crore for the
second quarter ended September 30. Interest income of the bank rose to Rs
11,093 crore during the quarter, up 20%. Gross non-performing assets (NPAs) as a
percentage of total advances stood at 3.54%, against 2.93% in the same quarter of
2013-14. Net NPAs stood at 2.32% at the end of September 2014.
Bulk Deals
Scrip Name Quantity (in lakhs) Fund Name Price
HIL +0.77 DELHI IRON AND STEEL COMPANY PRIVATE LIMITED 266.00
Urja Glob -4.00 EAST INDIA SECURITIES LTD 14.83
Key Corporate Action
SCRIP NAME BC/RD
For forthcoming Board Meeting on Nov 05, 2014
click on the following link
http://www.bseindia.com/mktlive/board_meeting.asp#1
BC/RD
FROM EX-DATE PURPOSE
Astral Poly RD 8/11/2014 5/11/2014 15% Interim Dividend
BEL Agromac RD 7/11/2014 5/11/2014 Reduction of Capital
Navin Fluorine RD 7/11/2014 5/11/2014 75% Interim Dividend
Rsystems Int RD 7/11/2014 5/11/2014 90% Third Interim Dividend
Retail Research 3

4. Stock Ideas Nov 05, 2014
Update of Index Futures
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
3-Nov-14 S Nifty Future 8370 8411 8310 8347.35 3-Nov-14 0.3 Premature Profit Booked 2-3 days 8370 22.6
31-Oct-14 S Nifty Fut 8315.25 8345 8255 8345 31-Oct-14 -0.4 Stopped Out/Exit 1-5 days 8315.25 -29.8
27-Oct-14 S Nifty Future 8020.35 8051 7950 8001.15 27-Oct-14 0.2 Premature Profit Booked 2-3 days 8020.35 19.2
21-Oct-14 B Nifty Fut 7927 7880 8020 7949.65 21-Oct-14 0.3 Premature Profit Booked 1-5 days 7927 22.6
Update of Stock and Nifty Options Calls:
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date % G/LComments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
30-Oct-14 B Bank Nifty Nov 16700 Calls 360.65 253 600 425 31-Oct-14 17.8 Premature Profit Booked 1-5 days 360.65 64.4
27-Oct-14 B Tata Steel 450 Put 4.35 1.95 10 5.35 27-Oct-14 23.0 Premature Profit Booked 2-3 days 4.35 1.0
Update of Momentum / Intra Day/Futures Calls:
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
3-Nov-14 B Ahmed Forge 408, 417.4 404.00 440.00 414.0 -0.8 Hold 2-3 days 417.40 -3.4
3-Nov-14 B Venus Rem 270.80 264.00 290.00 274.7 1.4 Hold 2-3 days 270.80 3.9
3-Nov-14 B NHPC 20.5-21.3 20.1 25.0 21.3 -0.2 Hold 1-5 days 21.30 -0.1
3-Nov-14 B PARSVNATH 21.00-20.70 20.0 23.0 21.3 1.4 Hold 3-5 Days 21.00 0.3
3-Nov-14 B Federal Mogul 325 - 315 308.0 360.0 326.4 0.4 Hold 3 - 7 Days 325.00 1.4
3-Nov-14 B NOCIL 46.10 43.9 50.0 48.0 3-Nov-14 4.0 Premature Profit Booked 3 - 7 Days 46.10 1.9
31-Oct-14 B Sks Microfin 314, 321.8 209.00 345.00 332.9 3-Nov-14 3.4 Premature Profit Booked 2-3 days 321.90 11.0
31-Oct-14 B Poly plex 257.00 252.00 270.00 264.0 31-Oct-14 2.7 Premature Profit Booked 2-3 days 257.00 7.0
31-Oct-14 B Cox & King 285.80 279.00 300.00 294.6 3-Nov-14 3.1 Premature Profit Booked 2-3 days 285.80 8.8
31-Oct-14 B Siemens 874 850.0 920.0 875.5 0.2 Hold 1-5 days 874.00 1.5
31-Oct-14 B MAGMA 121.8 115.0 132.0 124.2 2.0 Hold 3-5 Days 121.80 2.4
31-Oct-14 B Kotak Bank 1110 - 1094 1070.0 1200.0 1112.5 0.2 Hold 3 - 7 Days 1,110.0 2.5
31-Oct-14 B Adani Ent 479 - 472 462.0 515.0 492.0 3-Nov-14 2.7 Premature Profit Booked 3 - 7 Days 479.00 13.0
30-Oct-14 B Penin Land 34.90 33.45 39.00 37.1 30-Oct-14 6.2 Premature Profit Booked 2-3 days 34.90 2.2
30-Oct-14 B Mirza Int 43.00 40.90 48.00 44.4 31-Oct-14 3.3 Premature Profit Booked 2-3 days 43.00 1.4
30-Oct-14 B SCI 60.25 58.0 65.0 60.8 3-Nov-14 0.8 Premature Profit Booked 1-5 days 60.25 0.5
30-Oct-14 B Mindtree 1055-1084.3 1030.0 1260.0 1073.0 3-Nov-14 -1.0 Premature Exit 5-10 days 1084.30 -11.3
30-Oct-14 B BIRLACORPN 500.5 485.0 530.0 530.0 30-Oct-14 5.9 Target Achieved 3-5 Days 500.50 29.5
30-Oct-14 B Rel Infra 588 - 578 562.0 625.0 605.3 31-Oct-14 2.9 Premature Profit Booked 3 - 7 Days 588.00 17.3
30-Oct-14 B Jyoti Structure 42.3 - 41.3 39.5 45.0 43.6 30-Oct-14 3.0 Premature Profit Booked 3 - 7 Days 42.30 1.3
29-Oct-14 B Sadbhav Engineering 217-223.15 210.0 260.0 231.0 30-Oct-14 3.5 Premature Profit Booked 5-10 days 223.15 7.8
29-Oct-14 S Colgate Palmolive Nov Fut 1701.3 1752.0 1610.0 1706.0 -0.3 Hold 5-7 Days 1701.30 -4.7
29-Oct-14 B Centuary Ply 125.50 121.00 135.00 129.1 30-Oct-14 2.8 Premature Profit Booked 2-3 days 125.50 3.6
29-Oct-14 B DCB Bank 88.70 86.00 93.00 90.9 31-Oct-14 2.5 Premature Profit Booked 2-3 days 88.70 2.2
28-Oct-14 B India Glycol 118, 122.7 115.80 134.00 128.0 28-Oct-14 4.3 Premature Profit Booked 2-3 days 122.70 5.3
28-Oct-14 B Polyplex 241, 248.95 237.50 270.00 255.0 29-Oct-14 2.4 Premature Profit Booked 2-3 days 248.95 6.1
28-Oct-14 B NRB Bearings 129, 135.05 126.85 149.00 137.7 31-Oct-14 1.9 Premature Profit Booked 2-3 days 135.05 2.6
28-Oct-14 B Patel Engg 90, 93.6 87.00 100.00 95.7 31-Oct-14 2.2 Premature Profit Booked 2-3 days 93.60 2.1
28-Oct-14 B Essel Pack 117.2 113.0 125.0 115.1 30-Oct-14 -1.8 Premature Exit 1-5 days 117.20 -2.1
28-Oct-14 S Exide Ind Nov Fut 157.4 163.0 148.0 155.8 30-Oct-14 1.0 Premature Profit Booked 3-5 Days 157.40 1.6
28-Oct-14 B Suryarosni 95.1 92.1 101.0 94.4 31-Oct-14 -0.7 Premature Exit 3-5 Days 95.10 -0.7
27-Oct-14 B Orchid Chem 73.10 70.50 78.00 72.2 30-Oct-14 -1.3 Exit 2-3 days 73.10 -0.9
27-Oct-14 B Jet Airways 228, 235.75 225.00 248.00 246.4 3-Nov-14 4.5 Premature Profit Booked 2-3 days 235.75 10.7
27-Oct-14 B Union Bank 226.4 217.0 245.0 231.0 28-Oct-14 2.0 Premature Profit Booked 3-5 Days 226.40 4.5
22-Oct-14 B Dredging Corp 440, 447.7 425.0 500.0 457.0 27-Oct-14 3.0 Premature Profit Booked 1-5 days 443.90 13.1
22-Oct-14 B GRUH FIN. 194.25 186.5 210.0 200.7 27-Oct-14 3.3 Premature Profit Booked 3-5 Days 194.25 6.4
22-Oct-14 B Jyothy Lab 248 238.0 269.0 252.6 3-Nov-14 1.9 Premature Profit Booked 3-5 Days 248.00 4.6
21-Oct-14 B GAIL 471.8 455.0 502.0 487.4 22-Oct-14 3.3 Premature Profit Booked 3-5 Days 471.80 15.6
21-Oct-14 S Bharat Forge Oct Fut 765-770 790.0 725.0 754.8 28-Oct-14 1.7 Premature Profit Booked 3-5 Days 767.50 12.8
21-Oct-14 B IRB Infra 243.4 234.0 265.0 248.0 22-Oct-14 1.9 Premature Profit Booked 3-5 Days 243.40 4.5
21-Oct-14 B BEL 2100 2000.0 2300.0 2029.1 21-Oct-14 -3.4 Exit Called 5-10 days 2100.00 -70.9
21-Oct-14 B Gold Bees 2540.9 2490.0 2650.0 2490.0 27-Oct-14 -2.0 Stoploss Trig. 1-5 days 2540.90 -50.9
20-Oct-14 B PNB 946.15 910.0 1050.0 969.9 21-Oct-14 2.5 Premature Profit Booked 1-5 days 946.15 23.8
20-Oct-14 B Auro Pharma 931.7 899.5 995.0 959.0 21-Oct-14 2.9 Premature Profit Booked 3-5 Days 931.70 27.3
17-Oct-14 S Century Textile Oct Fut 508.45 530.0 465.0 530.0 21-Oct-14 -4.1 Stoploss Trig. 3-5 Days 508.45 -21.6
17-Oct-14 B ABG Shipyard 223.65 215.0 239.0 224.0 21-Oct-14 0.2 Premature Exit 3-5 Days 223.65 0.3
Update of Positional Calls:
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
3-Nov-14 B SPIC 25.90 24.5 28.0 26.2 1.2 Hold 3-14 days 25.90 0.3
Retail Research 4

5. 31-Oct-14 B Graphite 90, 94.7 87.9 105.0 94.2 -0.5 Hold 5-7 days 94.70 -0.5
31-Oct-14 B BGR Energy 161-166.9 155.0 200.0 169.85 1.8 Hold 5-10 days 166.9 2.9
31-Oct-14 B GMR Infra 21.5 20.5 23.5 22.00 3-Nov-14 2.6 Premature Profit Booked 3-5 Days 21.5 0.6
31-Oct-14 B GVKPIL 11 - 10.7 10.2 13.5 11.8 31-Oct-14 6.8 Premature Profit Booked 3-14 days 11.00 0.8
29-Oct-14 B PFC 285.15-282 274.0 305.0 280.00 -1.3 Hold 3-5 Days 283.6 -3.6
27-Oct-14 B Fortis 120.60 116.0 135.0 120.7 0.1 Hold 5-10 days 120.60 0.1
27-Oct-14 B Centum 465, 485.05 449.0 550.0 513.1 27-Oct-14 5.8 Premature Profit Booked 5-7 days 485.05 28.1
27-Oct-14 B Lloyd Ele 153, 159.8 149.0 175.0 168.3 28-Oct-14 5.3 Premature Profit Booked 5-7 days 159.80 8.5
22-Oct-14 B ABIRLANUVO 1685.00 1609.0 1810.0 1671.8 -0.8 Hold 3-5 Days 1685.00 -13.2
HDFC securities Limited, I Think Techno Campus, Building –B, ”Alpha”, Office Floor 8, Near Kanjurmarg Station,
Opp. Crompton Greaves, Kanjurmarg (East), Mumbai 400 042 Fax: (022) 30753435
Disclaimer: This document has been prepared by HDFC securities Limited and is meant for sole use by the recipient and not for circulation. This
document is not to be reported or copied or made available to others. It should not be considered to be taken as an offer to sell or a solicitation to
buy any security. The information contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it
should not be relied upon as such. We may have from time to time positions or options on, and buy and sell securities referred to herein. We may
from time to time solicit from, or perform investment banking, or other services for, any company mentioned in this document. This report is
intended for Retail Clients only and not for any other category of clients, including, but not limited to, Institutional Clients
Retail Research 5