- The Nifty index opened lower on Thursday due to uncertainty in the US presidential election and weakness in Asian markets. It recovered briefly but then fell to end near the day's lows. - Services sector activity in India increased in October driven by rising new orders, but the market declined due to S&P rating agency ruling out an upgrade for India for the next two years. - Most Asian markets ended lower due to election jitters while European stocks were mixed ahead of a Bank of England policy decision. The report provides technical analysis and recommendations for various stocks.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness gap down opening in Nifty around 8452 level on back
of SGX Nifty and other Asian counters which is trading on negative note
today.
Nifty ended Thursday’s trade near its intraday lows due to uncertainty over a
tight US presidential election. After a negative opening, market gained
momentum and entered into green terrain, as sentiments remained upbeat
with the report indicating India’s Services sector activity gathered pace in
October, driven by sharper increase in new business orders amid strong
demand and improved market conditions. The Nikkei India Services
Purchasing Managers' Index (PMI), which tracks services sector companies on
a monthly basis, stood at 54.5 in October as against 52.0 in September. Some
support also came with a survey of FICCI, which has said that India Inc
believes the economy is faring better and is optimistic about demand rising.
Expectations regarding the performance of the economy in the next six
months went up, with about 75% positive on growth, up from 66%. However,
market pared all of its gains in second half and turned red to end near
intraday lows, as investors remained cautious with the report that S&P Global
Ratings has ruled out an upgrade for India over the next two years even as it
affirmed the stable outlook on the country’s ‘BBB-’ long-term and ‘A-3’ short-
term sovereign credit ratings. Also, market participant remained sideline with
GST Council meet starting today as both the Centre and states seeming to
harden their positions with respect to the issues they disagree on. There is a
raging debate on the Centre’s proposal for having multiple rates for GST. On
the global front, European stocks were mostly higher as investors eyed the
Bank of England’s policy statement due later in the day. Asian shares ended
mostly in red on jitters over the US presidential election
The top gainers in Nifty index were HINDALCO, INFRATEL, ITC, ACC,
HEROMOTOCO. While on the other hand, top losers were ADANIPORTS,
GRASIM, ASIANPAINT, WIPRO, BPCL.
4th November 2016
SENSEX 27,430 -0.35%
NIFTY 8,485 -0.34%
SGX Nifty* 8,488 -0.37%
Global Indices
Dow Jones 17,931 -0.16%
Nasdaq 5,058 -0.93%
FTSE 6,791 -0.81%
DAX 10,326 -0.44%
Straits Times 2,789 -0.46%
Nikkei 225 16,889 -1.46%
Hang Seng 22,659 -0.11%
Commodities
Gold 30,487 -0.59%
Silver 43,348 -1.69%
Natural Gas 187 -1.29%
Crude Oil 2,976 -1.65%
Currency
Dollar / Rupee 66.74 0.04%
Euro / Rupee 73.99 -0.04%
Pound / Rupee 83.21 0.19%
Volumes Rs.mn
Cash BSE 32,025 -2.19
Cash NSE 196,005 5.50
FII Activities Rs.Cr.
Purchase Sale Net
4418.71 4,912 -493.53
MF Activities Rs.Cr.
Purchase Sale Net
7440.4 6,752 688.9
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
4th November 2016
L1 L2 L3
R 8523 8561 8585
S 8462 8438 8400
21 DEMA 8635
50 DEMA 8643
100 DEMA 8519
Moving Averages
L1 L2 L3
R 19293 19406 19493
S 19092 19006 18892
21 DEMA 19471
50 DEMA 19389
100 DEMA 18910
Moving Averages
 Nifty continued to lose its size and previous day spillover effect has been observed.
 Nifty opened on flattish note and showed some strength but it failed to cross previous day high and
formed lower low.
 Nifty has breached 4 month support level which is major development on chart.
 Going forward, As Nifty is sustaining below 8500 it will bring further weakness can be there. From
positional perspective 8300 can be immediate support.
 Bank nifty continued to slide down for 4 days and in previous two trading session there was flat closing
but underneath it was volatile session.
 After initial hour strength Index continued to slide for remaining session, it shows bears are still in
control.
 Momentum oscillator RSI was not able to recover from negative move as still Negative DI is in dominant
position.
 Going forward, immediate resistance will be at 19350 level around and on downside support at 19000
level. Bias remain negative for index.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The India VIX contraction by 1.98% and reached 16.46. The
Nifty was down by 29.05 points or 0.34% to settle at
8,484.95.
From the most active contracts, SBI futures traded at a
premium of 1.30 points at 246.85 compared with spot
closing of 245.55. Vedanta futures traded at a discount of
1.65 points at 216.95 compared with spot closing of 218.60.
ICICI Bank futures traded at a premium of 1.50 points at
271.10 compared with spot closing of 269.60. Axis Bank India
futures traded at a premium of 0.25 points at 476.25
compared with spot closing of 476.00. Hindalco Industries
futures traded at a premium of 0.15 points at 163.15
compared with spot closing of 163.00.
The Nifty PCR finally stood at 0.91 for November month
contract. The top five scrips with highest PCR on OI were
INDUSINDBK (1.13), PCJEWELLER (1.05), CENTURYTEX (1.02),
SIEMENS (0.92) and CUMMINSIND (0.90).
4th November 2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
UBL 872.70 0.33 12.06 881.85
AMBUJACEM 243.25 0.89 9.33 246.80
ALBK 74.10 0.54 7.25 75.65
INFRATEL 382.85 3.94 6.27 390.01
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
HEROMOTOCO 3380.55 1.26 -15.41 3410.31
CEATLTD 1236.55 2.23 -9.41 1251.56
STAR 1122.35 6.98 -8.78 1155.20
CANBK 295.9 0.89 -7.03 299.01
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
DISHTV 89.40 -4.44 17.73 91.44
CESC 594.00 -5.32 12.59 615.77
LICHSGFIN 552.85 -3.73 11.08 561.87
APOLLOHOSP 1284.5 -1.85 8.96 1294.07
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
OIL 408.00 -0.54 -9.29 410.48
HINDUNILVR 842.10 -0.04 -8.82 847.41
NMDC 133.15 -3.83 -7.36 136.07
M&MFIN 350.95 -0.23 -6.07 355.06
TATAMOTORS COVERED PUT

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
4th November 2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1510 1559 1540 1525 1506 1491 1473 1439 Up Buy
ADANIPORTS 289 313 307 298 293 283 278 263 Down Sell
AMBUJACEM 240 255 250 245 240 235 231 221 Down Sell
ASIANPAINT 1034 1103 1089 1061 1047 1020 1006 964 Down Sell
AUROPHARMA 770 816 805 788 777 760 749 721 Down Sell
AXISBANK 476 485 483 479 476 473 470 464 Down Sell
BAJAJ-AUTO 2834 2924 2888 2861 2825 2798 2763 2700 Up Buy
BANKBARODA 147 155 153 150 148 145 143 138 Down Sell
BHARTIARTL 310 325 320 315 310 305 300 290 Down Sell
BHEL 138 143 142 140 138 137 135 132 Down Sell
BOSCHLTD 21470 22225 22050 21760 21585 21295 21120 20655 Down Sell
BPCL 643 681 673 658 649 635 626 603 Down Sell
CIPLA 561 572 568 564 560 557 552 545 Up Buy
COALINDIA 327 336 334 330 328 325 322 316 Down Sell
DRREDDY 3271 3324 3307 3289 3272 3254 3237 3202 Down Sell
EICHERMOT 24402 25565 25333 24867 24635 24169 23937 23239 Down Sell
GAIL 431 445 439 435 430 426 420 410 Up Buy
GRASIM 905 978 960 932 914 887 869 823 Down Sell
HCLTECH 761 775 772 766 763 758 755 746 Down Sell
HDFC 1405 1428 1420 1412 1404 1397 1388 1373 Up Buy
HDFCBANK 1253 1293 1277 1265 1248 1237 1220 1192 Up Buy
HEROMOTOCO 3371 3489 3445 3408 3364 3328 3284 3203 Up Buy
HINDALCO 163 177 172 167 162 158 152 143 Up Buy
HINDUNILVR 840 861 855 848 841 834 827 814 Down Sell
ICICIBANK 270 283 279 275 271 267 263 255 Down Sell
IDEA 74 78 77 75 74 73 72 69 Down Sell
INDUSINDBK 1231 1255 1244 1238 1227 1221 1210 1193 Up Buy
INFRATEL 380 409 397 388 376 368 356 335 Up Buy
INFY 968 995 989 978 972 961 955 938 Down Sell
ITC 241 250 246 244 240 237 234 227 Up Buy
KOTAKBANK 809 828 820 814 806 800 792 778 Up Buy
LT 1444 1484 1476 1460 1451 1435 1426 1402 Down Sell
LUPIN 1468 1527 1514 1491 1478 1455 1442 1405 Down Sell
M&M 1355 1392 1384 1369 1361 1347 1339 1316 Down Sell
MARUTI 5810 5933 5897 5853 5817 5773 5737 5657 Down Sell
NTPC 153 161 159 156 154 151 150 145 Down Sell
ONGC 267 279 276 272 269 265 262 255 Down Sell
POWERGRID 175 177 176 176 175 174 174 172 Down Sell
RELIANCE 1022 1045 1040 1031 1026 1017 1012 997 Down Sell
SBIN 246 259 256 251 248 243 240 232 Down Sell
SUNPHARMA 702 729 723 713 707 696 690 673 Down Sell
TATAMOTORS 509 535 528 519 512 502 496 479 Down Sell
TATAMTRDVR 331 347 343 337 333 327 323 312 Down Sell
TATAPOWER 76 80 79 78 77 75 75 72 Down Sell
TATASTEEL 404 438 429 416 408 395 387 365 Down Sell
TCS 2320 2392 2364 2342 2313 2291 2263 2212 Up Buy
TECHM 429 440 436 432 428 424 420 412 Up Buy
ULTRACEMCO 3894 3976 3954 3924 3903 3872 3851 3799 Down Sell
WIPRO 446 469 465 455 451 441 437 423 Down Sell
YESBANK 1208 1327 1296 1252 1221 1177 1146 1071 Down Sell
ZEEL 503 519 513 508 502 498 492 481 Up Buy

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Contact Us
www.choicebroking.in
Kkunal Parar
Sr. Research Associate
kkunal.parar@choiceindia.com
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Research Associate
vikas.chaudhari@choiceindia.com
www.choicebroking.incustomercare@choiceindia.com
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4th November 2016
Kapil Shah
Research Associate
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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: 2016.11.04 08:57:03 +05'30'