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Daily report 11 dec
- 1. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 1
- 2. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 2 Sensex ends 247.55 points lower or 0.61 percent at 40239.88 while the Nifty shed 80.70 points or 0.68 percent at 11856.80. Bajaj Finance, Eicher Motors and Cipla are the top gainers while YES Bank, Zee Entertainment and Power Grid are the top losers. The most active stocks include YES Bank, State Bank of India and Indiabulls Housing Finance. GLOBAL MARKETS INDICES VALUE % change DJIA 27,909.60 0.38 S&P 500 3,135.96 0.32 NASDAQ 8,621.83 -0.40 FTSE 100 7,149.59 -1.17 DAX 12,924.36 -1.38 CAC 40 5,787.98 -0.84 NIKKEI 23,410.19 -0.09 HANGSENG 26,436.62 -0.22 MARKETS AT A GLANCE INDIAN MARKETS INDICES VALUE CHANGE % CHANGE NIFTY 11856.80 -80.70 -0.68 SENSEX 40239.88 -247.55 -0.61 BANKNIFTY 31160.30 -156.40 -0.50 INDIAN SECTORIAL INDICES INDICES % change NIFTY AUTO -0.79 NIFTY FIN SERVICE -0.15 NIFTY FMCG -1.04 NIFTY IT -1.39 NIFTY MEDIA -1.94 NIFTY METAL -1.4 NIFTY PHARMA -0.25 NIFTY PSU BANK -1.6 NIFTY PVT BANK -0.69 NIFTY REALTY -0.91 MARKETS’ SUMMARY
- 3. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 4 ABB: ABB’s stock has rallied just 10 percent YTD v/s 40 percent for Siemens and 13 percent for the Nifty. We attrib- ute this underperformance to the pending demerger of the Power Grid business (likely by June 2020.ABB, along with Siemens, is one of the biggest beneficiaries of the corporate tax cut and also the likely beneficiary of the boost to the manufacturing sector in India.Exports, as a percentage of revenue, stand at around 15 percent and have grown 91 per- cent in 9MCY19 (CY18: 31 percent). We continue valuing its discontinued T&D business at a target multiple of 25x and current core . Camlin Fine Sciences: We expect CFIN to deliver rapid value growth led by Dahej plant commissioning, ramp-up in blends business, improvement in Chinese vanillin plant utilisation and continued growth momentum in performance chemicals.We estimate CFIN’s sales/EBITDA to grow rapidly at a CAGR of 22 percent/60 percent over FY19-22. However, due to the weak operational performance in the recent past, CFIN trades at deep discounts (ie 4x FY21 EV/ EBITDA and 7x FY21 PE). We recommend buy with target of Rs 140 ie 9x FY21 EV/EBITDA. Petronet LNG: The company is well placed to benefit from rising gas demand, supported by its recent capacity expan- sion to 17.5 mmt at the Dahej terminal and plans to further expand capacity to 19.5 mmt in the next two-three years by setting up two storage tanks and a jetty. It is thus expected that the stock will see a price target of Rs 306 in eight- 10 months timeframe on an current PE multiple of 14.59 times and FY21E EPS of Rs 20.99. Canara Bank: The bank has been consistently delivering on improving asset quality, cost efficiency, other income and productivity. The management is confident of improvement in incremental disbursement with better credit monitor- ing. It is expected that the stock will see a price target of Rs 253 in 8 to 10 months timeframe on a target P/Bv of 0.70x and FY21 BVPS of Rs.361.07. DAILY NEWS
- 4. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 3 Losers of the Day Symbol CMP % change YESBANK 50.4 -10.4 ZEEL 269.65 -5.1 GAIL 111.1 -4.39 JSWSTEEL 251.15 -2.97 BPCL 485.15 -2.9 52 Weeks’ High Symbol LTP Change % change AAVAS 1,800.00 -2.9 -0.16 AGROPHOS 141.15 1 0.71 BFUTILITIE 315.2 -20.6 -6.13 BIOFILCHEM 11.75 0.55 4.91 CRISIL 1,698.00 35.15 2.11 52 Weeks’ Low Symbol LTP Change % change A2ZINFRA 7.8 0 0 ALBK 20.55 -1 -4.64 APARINDS 407.3 -13.3 -3.16 APCOTEXIND 156.1 -4.3 -2.68 APOLLOPIPE 333.95 -1.2 -0.36 Gainers of the Day Symbol CMP % change BAJFINANCE 3,994.50 1.26 HINDUNILVR 2,030.20 1.1 CIPLA 452.8 1.09 EICHERMOT 21,210.00 1.01 BHARTIARTL 449.65 0.85 OI Spurts Symbol Change in OI % Change in OI APOLLOHOSP 876 23.42 UJJIVAN 1,267 15.73 NIFTYIT 24 15.29 TCS 12,842 14.21 APOLLOTYRE 629 14.12 Volume Shockers Symbol Volume SADBHIN 35,83,983 VGUARD 63,63,492 M50 87,089 ARSHIYA 11,13,051 AKSHARCHEM 1,21,815 SFL 1,07,618 FSC 63,690 MOVERS & SHAKERS
- 5. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 5 FII DERIVATIVES STATISTICS BUY SELL OPEN INTEREST AT THE END OF THE DAY No. of con- tracts Amt in Crores No. of con- tracts Amt in Crores No. of contracts Amt in Crores INDEX FUTURES 29716 2214.58 28557 2199.28 155924 13126.06 INDEX OPTIONS 3042460 214062.00 3033741 213378.95 562575 47195.38 STOCK FUTURES 192151 11223.66 179659 10556.40 1585461 93989.67 STOCK OPTIONS 58493 3887.30 58425 3863.64 58671 3359.91 -1389.27 RBI REFERENCE RATE INR / 1 USD 70.91 INR / 1 EURO 78.50 INR / 100 Jap. YEN 65.31 INR / 1 POUND Sterling 93.39
- 6. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 6 1. ZEEL FUTURE : (SELL) 1. AXISBANK FUTURE (SELL) PIVOT LEVELS R2 R1 PIVOT S1 S2 294.73 282.97 276.63 264.87 258.53 ZEEL FUTURE :ITS DOWN TREND AND N DAILY CHARTS A BEARISH WIDE RANGE CANDELSTRICK PATTERN IS FOM- RED AND BEARISH FLAGS PATTERN BREAKOUT GIVEN AT BELOW 270, ,MAJOR RESISTANCE LEVEL 282 AND MAJOR SUP- PORT LEVEL 270 BREAK THE STOCK GO- ING DOWN RSI GIVES SELL SIGNALS . SELL ZEEL IN FUTURE BELOW 270 TGT 265/260 SL ABOVE 276 AXISBANK FUTURE :ITS DOWN TREND AND DOUBLE TOP PATTERN FOM- RED BREAKOUT LEVEL BELOW 710 MAJOR SUPPORT LEVEL 710 IN DAILY CHARTS A BEARISH WIDE RANGE CANDELSTRCIK PATTERN FORMED, MAJOR RESISTANCE LEVEL 725, RSI GIVES SELL SIGNALS . SELL AXISBANK IN FUTURE BELOW 710 TGT 703/690 SL ABOVE 718 PIVOT LEVELS R2 R1 PIVOT S1 S2 741.73 729.47 723.23 710.97 704.73 TECHNICAL RECOMMENDATIONS
- 7. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 7 TECHNICAL VIEW : ZEEL LTD( SELL ) TECHNICAL VIEW: BPCL LTD CASH (SELL ) PIVOT LEVELS R2 R1 PIVOT S1 S2 256.35 263.00 275.55 282.20 294.75 ZEEL LTD :ITS DOWN TREND AND N DAILY CHARTS A BEARISH WIDE RANGE CANDELSTRICK PATTERN IS FOMRED AND BEARISH FLAGS PATTERN BREAKOUT GIV- EN AT BELOW 270, ,MAJOR RESISTANCE LEVEL 282 AND MAJOR SUPPORT LEVEL 270 BREAK THE STOCK GOING DOWN RSI GIVES SELL SIGNALS . SELL ZEEL IN CASH BELOW 270 TGT 265/260 SL ABOVE 276 BPCL LTD :IN DAILY CHARTS A BEARISH WIDE RANEG CANDELSTRICK PATTERN IS FOMRED AND DOUBLE TOP PATTERN FORMED , THE TREND IS DOWN ,MAJOR RESISTANCE LEVEL 500 AND MAJOR SUP- PORT LEVEL 485 BREAK THE STOCK GO- ING DOWN RSI GIVES SELL SIGNALS . SELL BPCL IN CASH BELOW 445 TGT 440/433 SL ABOVE 451 PIVOT LEVELS R2 R1 PIVOT S1 S2 510.52 497.83 491.02 478.33 471.52 TECHNICAL RECOMMENDATIONS
- 8. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 8 3. NIFTY FUTURE (SELL ) 4. BANK NIFTY FUTURE (SELL ) PIVOT LEVELS R2 R1 PIVOT S1 S2 12,012.57 11,957.28 11,920.82 11,865.53 11,829.07 NIFTY FUTURE: ITS DOWN TREND AND IN DAILY CHARTS BEARISH HARAMI CANDEL- STRICK PATTERN FORMED AND MAJORS RE- SISTANCE LEVEL 12000 . MAJOR SUPPORT LEVEL 11900 ,IF ITS MAJOR SUPPORT BREAKOUT IT WILL GOING SIDE OF TGT 11800,RSI IS SELL SIGNALS . SELL NIFTY IN FUTURE BELOW 11900 TGT 11850/11750 SL ABOVE 12000 BANKNIFTY FUTURE: IN DAILYS CHARTS BEARSIH WIDE RANGE CANDELSTRICK PATERN FOMRED AND ITS DOWN TREND ROUNDING TOP PATTERN FORMED BREAKOUT WILL GIVES BELWO 31200 MA- JORS RESISTANCE LEVEL 31500 AND MA- JORS SUPPORT LEVEL 31200 ,ITS MAJOR SUP- PORT LEVEL ITS GOING DOWN SIDE ,RSI IS SELL SIGNALS. SELL BANK NIFTY FUTURE BELOW 31200 TGT 31100/30900 SL ABOVE 31350 PIVOT LEVELS R2 R1 PIVOT S1 S2 31,549.23 31,396.82 31,292.58 31,140.17 31,035.93 TECHNICAL RECOMMENDATIONS
- 9. Daily Report WEDNESDAY DEC11 2019 URL: www.tradenivesh.com Call Us On : + 91-9039261444 Page: 9 PREVIOUS DAY’S PERFORMANCE CALL SEG- MENT ADVISE ENTRY TGT SL STATUS NIFTY INDEX BUY 12000 12080/12200 11900 NOT EXECUTED BANKNIFTY INDEX SELL 31300 31200/31000 31500 HIT FIRST TGT TVSMOTORS LTD CASH SELL 438 432/425 435 LOW MAKE 433.55 BPCL LTD CASH SELL 502 508/517 495 SL TRG BPCL FUTURE SELL 502 508/517 495 SL TRG VOLTAS FUTURE SELL 678 671/662 686 HOLD DISCLAIMER This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an in- vestment in the securities of the companies referred to in this document including the merits and risks involved, and should consult their own advisors to determine the merits and risks of such an investment. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading vol- ume. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Trade Nivesh shall not be in any way responsible for any loss or damage that may arise.