The document provides technical analysis on various stock market indices and individual stocks, including their moving averages and pivot points. It also includes a weekly news update on the stock market with headlines on companies like SpiceJet, TCS, Axis Bank, Bajaj Auto, Federal Bank and more. Key highlights from the earnings reports and business deals are summarized. The document concludes with wholesale inflation figures for December and mentions IFC increasing its stake in Bandhan Finance.

2. TECHNICAL VIEW
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 8383 8326 82009 7757
BANK NIFTY 18774 18399 17237 15826
NIFTY PIVOT REPORT
DAILY R2 R1 PP S1 S2
8766 8602 8521 8439 8275
WEEKLY R2 R1 PP S1 S2
9401 8761 8441 8120 7480
MONTHLY R2 R1 PP S1 S2
10052 8923 8359 7795 6667
BANK NIFTY PIVOT REPORT
DAILY R2 R1 PP S1 S2
19909 19472 19253 19034 18596
WEEKLY R2 R1 PP S1 S2
21997 20075 19114 18153 16231
MONTHLY R2 R1 PP S1 S2
22664 20242 19031 17820 15398
NSE EQUITY DAILY LEVELS
COMPANY R3 R2 R1 PP S1 S2 S3
ACC EQ 1574 1544 1531 1515 1502 1486 1456
ALBK EQ 135 132 130 128 126 125 121
AMBUJACEM EQ 249 244 241 239 236 234 229
ASIAN PAINT EQ 885 866 854 847 835 828 809
AXISBANK EQ 534 525 520 516 511 507 498
BAJAJ-AUTO EQ 2515 2466 2443 2418 2395 2370 2322
BANKBRODA EQ 1124 1105 1093 1085 1073 1066 1046
BANKINDIA EQ 311 305 303 300 297 294 288

3. BHEL EQ 291 281 277 271 267 260 250
BHARTIARTL EQ 370 357 350 344 337 331 318
CIPLA EQ 667 656 651 645 640 634 623
COALINDIA EQ 407 390 384 374 368 358 342
DLF EQ 163 155 150 146 142 138 130
DRREDDY EQ 3398 3334 3310 3270 3246 3206 3143
GAIL EQ 441 432 428 424 420 415 407
GRASIM EQ 3814 3731 3684 3649 3601 3567 3485
HCLTECH EQ 1756 1688 1663 1619 1595 1551 1482
HDFC EQ 1234 1216 1205 1198 1187 1180 1162
HDFCBANK EQ 1037 1021 1011 1004 994 988 972
HEROMOTOCO EQ 3077 2998 2948 2919 2869 2840 2762
HINDALCO EQ 151 145 142 139 136 134 128
HINDUNILVR EQ 981 959 950 937 928 915 893
ICICIBANK EQ 366 359 356 351 349 344 337
ITC EQ 374 366 363 358 355 351 343
INDUSIND BANK EQ 876 852 842 827 817 803 778
INFY EQ 2226 2178 2148 2130 2100 2082 2034
JINDALSTEL EQ 162 156 153 151 148 145 140
KOTAKBANK EQ 1431 1411 1403 1391 1383 1371 351
LT EQ 1691 1639 1615 1587 1563 1535 1483
M&M EQ 1373 1335 1320 1297 1281 1259 1220
MRF EQ 42526 40790 39977 39058 38243 37324 35590
MARUTI EQ 3677 3644 3630 3611 3597 3578 3545
ONGC EQ 364 356 351 347 342 338 330
ORIENTBANK EQ 350 340 334 329 323 319 308
RANBAXY EQ 693 668 658 642 632 616 590
RCOM EQ 81 79 79 78 77 76 74
RELCAPITAL EQ 496 479 472 463 456 447 431
RELIANCE EQ 911 888 879 865 856 842 819
RELINFRA EQ 522 503 494 485 476 467 449
RPOWER EQ 64 64 62 61 60 60 58
SBIN EQ 330 323 319 316 312 309 301
SESAGOA EQ 202 197 195 192 190 187 182
SUNPHARMA EQ 899 871 860 843 832 815 787
TATAMOTORS EQ 356 348 344 340 336 332 324
TATAPOWER EQ 86 84 83 82 81 80 78
TATASTEEL EQ 400 390 387 381 377 372 363
UNIONBANK EQ 249 243 239 237 234 232 226

4. NSE WEEKLY NEWS UPDATE
✍ SpiceJet shares surge 10% as Ajay Singh checks
Stocks of SpiceJet on Friday surged nearly 10 per cent after the company returned to original
promoter Ajay Singh for its revival in a multi-layered deal worth up to Rs 1,500 crore. Shares
of the cash-strapped firm rallied 9.92 per cent to Rs 20.50 — its highest trading permissible
limit for the day on the BSE. Sun TV Network also jumped 12.87 per cent to Rs 423.90. Cash-
strapped SpiceJet's original promoter Ajay Singh returned to the airline with a long-term plan
entailing an investment of up to Rs 1,500 crore, as Maran family agreed to cede control with
transfer of over 53 per cent stake in the carrier. Singh, who is in talks to rope in more investors
including foreign entities, would get 53.48 per cent stake, currently worth about Rs 500 crore,
in the airline from the Maran family as part of the deal approved by the SpiceJet board
yesterday. Kalanithi Maran-led Sun Group would also infuse Rs 80 crore in the loss-making
airline following conversion of their warrants, which would give them a 10 per cent minority
stake. Marans would remain invested with this stake in the airline, which they acquired over
four years ago, as a public shareholder although they would cease to be its promoters.
✍ TCS Q3 PAT at Rs 5,444 crore versus Rs 5,288.3 crore, up 2.9% QoQ
Tata Consultancy ServicesBSE -0.51 % (TCS), the country's largest IT services exporter on
Thursday reported Profit After Tax (PAT) of Rs 5440 crore for the third quarter of the current
financial year, versus an ET NOW Poll of Rs 5,462 crore. This is a rise of 2.9% QoQ.Sales for
Q3 were reported at Rs 24,500 crore versus an ET NOW Poll of Rs 24,534.1 crore. The Q3
margin stood at 27%. For the quarter ended December 31, TCS posted revenue of $3.93 billion,
compared to $3.92 billion in the second quarter. On a constant currency basis, revenue rose
2.5%, in-line with expectations. Profit after tax rose 0.1% sequentially to $873 million in the
same period.The company's operating margin rose 20 basis points to 27%.
✍ Things to watch out for
Growth - Analysts expect the company to post around 1.5% revenue growth quarter-over-
quarter in dollar terms, below Infosys' 2.6% growth. The third-quarter is seasonally weak due
to ramp-downs and furloughs around the holiday season.
Margins and Utilization - TCS is expected to post marginally stronger margins on the back
of the weaker rupee, but cross-currency headwinds are expected to hurt. With utilization
already above 85% few see that as a lever the company could use to push margins higher.
Analysts expect the operating margin to come it at about 27% for the third-quarter.
Deal wins and Pricing - As about $100 billion worth of deals come up for renewal this year,
the street will be keeping a close watch on the number of large deal wins - the bread and butter

5. for IT companies. TCS has always maintained a razor -sharp focus on big contracts and has had
greater success winning them. But analysts also want to hear about pricing, and realizations.
Client Budgets and Discretionary Spending - Analysts will be looking for guidance on
client budgets and discretionary spending after Infosys said verticals such as banking and
financial services, oil & gas and telecom would likely not see budget expansion and was
cautious on discretionary spending as well.
The Law of Large Numbers - With over 300,000 employees, TCS has always said its scale is
an advantage. But after the compay dialled back growth expectations for FY15, analysts are
looking to see if the company's industry-beating growth days are behind it or whether this year
was just an aberration.
✍ RBI cuts repo rates by 25 basis points
Encouraged by softening inflation, the RBI on Thursday decided to cut the benchmark interest
rate by 0.25 per cent to 7.75 per cent with a view to boost growth.The decision to reduce repo
rate comes a fortnight ahead of the scheduled date of monetary policy announcement on
February 3.“It has been decided to reduce the policy repo rate under the liquidity adjustment
facility (LAF) by 25 basis points from 8.0 per cent to 7.75 per cent with immediate effect,”
Reserve Bank said in a statement on Thursday.The RBI has been keeping the benchmark
interest rate at elevated level at 8 per cent since January 2014.The RBI, however, has decided to
keep the cash reserve ratio (CRR), the portion of deposits which the banks are required to have
in cash with the central bank, unchanged at 4.0 per cent.Following reduction in the repo rate,
the reverse repo rate has been adjusted to 6.75 per cent and the marginal standing facility
(MSF) rate and Bank Rate to 8.75 per cent.The RBI said that the Consumer Price Index (CPI)
has been easing since July 2014 and was below the expected trajectory and the government has
reiterated its commitment to adhering to its fiscal deficit target.
✍ NIIT Q3 standalone net profit up 6.7%
Education company NIIT Ltd on Friday has reported a 6.7 per cent increase in standalone net
profit for the third quarter of financial year 2014-15 at Rs. 16.07 crore from Rs. 15.05 crore in
the corresponding period last fiscal.The standalone net revenue jumped 2.3 per cent to Rs.
117.15 crore (Rs 114.43 crore), according to the company’s filing to the BSE.The company
reported a 50 per cent increase in consolidated profit after tax at Rs. 1.8 crore in the third
quarter of financial year 2014-15 compared with Rs. 1.2 crore in the corresponding period of
the previous fiscal, NIIT Ltd said in a statement. The consolidated net revenue of the company
increased 6.25 per cent at Rs. 248.2 crore (Rs 233.6 crore), the statement added.

6. ✍ Tata wins central bank approval to buy DoCoMo stake in India joint venture
India's central bank has allowed conglomerate Tata Sons Ltd to buy Japanese telecom firm
NTT DoCoMo Inc's stake in their struggling Indian venture, paving the way for the completion
of the long-delayed $1.1 billion deal. In a memo to the finance ministry dated Dec. 22 seen by
Reuters, the Reserve Bank of India (RBI) said it was "inclined to accept" the proposal from
Tata to buy DoCoMo's stake of around 26 percent in Tata Teleservices Ltd at half the price
DoCoMo originally paid for the investment. The RBI has requested for the finance ministry's
view.
✍ December WPI inflation at 0.11% versus 0% in November; food price inflation rises to
5.2%
Plunging global oil markets helped India post slower-than-expected wholesale price inflation in
December, raising hopes for an early cut in interest rates to help the economy out of its longest
phase of sub-par growth since the 1980s. The wholesale price index (WPI) rose 0.11 percent
year-on-year compared with a 0.6 percent jump forecast by economists in a Reuters poll.
Wholesale prices were unchanged in November.
✍ IFC to raise stake in Bandhan Finance
International Finance Corporation (IFC) is picking up more stake in Bandhan Financial
Services, the only new bank licensee from east, for Rs 580 crore. The newbie lender is raising
Rs 1,600 crore from the market as Tier I capital for the proposed Bandhan Bank. Bandhan
chairman Chandrasekhar Ghosh told TOI on Thursday that it has already tied up with IFC for
Rs 580 crore and for the rest, it will arrange deals with other organizations in the next 10 days.
✍ PVR set to acquire Chennai’s movie exhibition company SPI Cinemas for Rs 750-1,000
crore
The Ajay Bijli led PVR group seems set to acquire Chennai's premier movie exhibition
company SPI Cinemas, popularly known as Sathyam Cinemas, in what could end up to be the
biggest deal in Bijli's career as well for India's multiplex sector. Multiple sources aware of the
on-going discussions said save last-minute developments, the deal may close for a rather steep
valuation of approximately Rs 750-1,000 crore for just 40 odd screens, located predominantly
in the Southern metro. To put this in perspective, last month Carnival Cinemas paid a little over
Rs 700 crore to buy out Anil Ambani's Big Cinemas that has 242 screens across the country.

7. ✍ Axis Bank Q3 net up 18% at Rs 1,899 crore
Private sector lender Axis Bank reported a 18.4% rise in its net profit to Rs 1,899.76 crore for
the third quarter ended December FY15.The third largest private sector bank's net profit in the
corresponding October-December quarter of FY14 stood at Rs 1,604.11 crore."Total income
has increased from Rs 9,433.55 crore for the quarter ended December 31, 2013 to Rs 10,928.81
crore for the quarter ended December 31, 2014," it said in a filing to the BSE.The gross NPAs
stood at 1.34% in Q3FY15, over 1.25% in the year ago period. Net NPAs also rose marginally
to 0.44% from 0.42% during the period under review.
✍ Baja Auto Q3 net down 4.78% at Rs 861 crore
Bajaj Auto Ltd today reported 4.78% decline in its net profit to Rs 861.24 crore for the third
quarter ended December 31, 2014.The company had posted a net profit of Rs 904.55 crore
crore in the same quarter previous fiscal.Net sales during the period under review stood at Rs
5,520 crore as against Rs 5,294.55 crore in the year-ago quarter, the company said in a
statement.In terms of volume, sales during the quarter were marginally down at 9,84,520 units
as against 9,93,690 units in the same period last fiscal.
✍ Federal Bank net profit up 15% in Oct-Dec quarter
Private sector lender Federal Bank has reported a 15 per cent rise in net profit to at Rs 264.69
crore in the October-December 2014 quarter, compared with Rs 230.13 crore in the
corresponding quarter of 2013-14, aided by other income growth and improved lending to
small and medium enterprises (SME) and retail business net interest income, the difference
between interest income and interest expenditure, grew 7.62 per cent to Rs 587.16 crore in the
quarter under review, compared to Rs 545.57 crore in the year-ago quarter.

8. This Document has been prepared by Ways2Capital (A Division of High Brow Market
Research Investment Advisory Pvt Ltd). The information, analysis and estimates contained
herein are based on Ways2Capital Equity/Commodities Research assessment and have been
obtained from sources believed to be reliable. This document is meant for the use of the
intended recipient only.
This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is
meant for general information only. Ways2Capital Equity/Commodities Research, its directors,
officers or employees shall not in any way to be responsible for the contents stated herein.
Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that
may arise from information, errors or omissions in this connection. This document is not to be
considered as an offer to sell or a solicitation to buy any securities or commodities.
All information, levels & recommendations provided above are given on the basis of technical
& fundamental research done by the panel of expert of Ways2Capital but we do not accept any
liability for errors of opinion. People surfing through the website have right to opt the product
services of their own choices.
Any investment in commodity market bears risk, company will not be liable for any loss done
on these recommendations. These levels do not necessarily indicate future price moment.
Company holds the right to alter the information without any further notice. Any browsing
through website means acceptance of disclaimer.