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8th Oct’14 Equity Bazaar 
Nifty 
Nifty Technical View: 
 After given gap down opening, Nifty prices bounced & made days high but after mid-session sellers continued to dominate the market right from its higher level & finally Nifty future has given almost 99 points downward rally from its day high. 
 Price Pattern: According to Daily chart, Nifty has formed Large Leg Upper Shadow, a small real body’s with large leg of upper shadows which means during trading session bulls were more antagonistic but not able to conquer price at higher level. 
 Moving Average: In 2 Hourly chart Nifty has traded below its 50 EMA downward direction which is lesser than 100 EMA. There is a possibility that we may see Nifty can touch 50 EMA or 100 EMA & can drop down for the fresh downward fall. 
 MACD: The 2 hourly charts MACD is ready to give sell signal. 
 RSI: RSI is showing negative divergent & is moving towards a near-term oversold condition. 
 Conclusion: On-2hourly chart, the pair has managed to hold a support near 7880 level. Should the pair now break below this immediate support, it is likely to continue with its corrective move towards 7600 levels. For aggressive trader & passive traders wait & watch policy is good for this situation now Nifty is trading in falling direction therefore breach of 7880 level can drift prices lower for the test of lower levels. 
Resistance: R1 7947 R2 8002 R3 8089 
Pivot : PL 7915 
Support : S1 7860 S2 7828 S3 7741 
Our Recommendation 
Buy Nifty above 8030 Stop Loss 7980 Target 8200. 
Sell Nifty below 7880 Stop Loss 7920 Target 7750.
8th Oct’14 Equity Bazaar 
Bank Nifty 
Bank Nifty Technical View: 
 Bank Nifty remained within a narrow range Bank Nifty is challenging its major support area defined by 15200 levels. 
 Price Pattern: Bank Nifty has also formed Large Leg Upper Shadow, a small real body’s with large upper shadows which means during trading session bulls were more antagonistic but not able to conquer price at higher level. 
 Moving Average: In 2-hourly chart, The Bank Nifty is trading below the 50 EMA & 100 EMA with broad distance which is an indication of ongoing bearish trend and this suggests the strength of decline. Henceforth we could possibly see running upward corrections-minor pullback rallies. 
 MACD: The MACD on the 2hr charts turn below central line but in negative divergence (12days sma trades below 26 days sma) with negative histogram which is a pre indication of strong selling signal. 
 RSI: The divergence of short term RSI on daily chart is suggesting a caution and to avoid fresh positions at the current levels. 
 Conclusion: Bank Nifty could trade in broad range. From the current level, the pair is expected to test 15200 support level breaking which 15200 can become next support 14880 levels. The charts suggest that the stock has given breakout & down fall can continue but for confirmation one should wait for breakout below 15200 levels for belligerent trader & for flaccid traders wait & watch policy is good in this situation. 
Resistance: R1 15285 R2 15408 R3 15595 
Pivot : PL 15221 
Support : S1 15098 S2 15034 S3 14847 
Our Recommendation 
Buy BNF above 15400 Stop Loss 15300 Target: 15700. 
Sell BNF below 15000 Stop Loss 15100 Target: 14800.
8th Oct’14 Equity Bazaar 
Stock of the Day 
Jubilant Food View: 
 After sideway correction Jubilant Food has given downward trend line breakout and close above its important support 1228 level. 
 Chart Pattern: According to daily chart, Jubilant Food has formed Large Real Bodies of Black candlestick which means during trading session bears were more aggressive. 
 Moving Average: In Hourly chart, Jubilant Food has traded near its 50 & 100 EMA, which is bullish sign. Very soon we will see 50 EMA cross above 100 EMA & this is strong bullish sign. 
 MACD: The MACD on the hourly charts has turned into quite positive divergence (12days sma trades above 26 days sma) with could be a sign of distribution. 
 RSI: Oscillator RSI has slipped below the important area of middle line. Currently RSI is near bearish level (48 levels). 
 Conclusion: The charts suggest that Jubilant Food trades in elevated track consequently tumble can be used as buying opportunities to test sophisticated levels for the day. For short term there is a possibility of upward rally and the next resistance would be watch around Rs.1360 level. 
Resistance : R1 1284 R2 1316 R3 1369 
Pivot : PL 1263 
Support : S1 1231 S2 1210 S3 1157 
Our Recommendation 
Buy Jubilant Food above 1288 Stop Loss 1250 Target: 1360
8th Oct’14 Equity Bazaar 
Derivative Analysis  FIIS Data: FII’s are the net Seller on 7th October 2014 is Rs 332.84 Cr and Dll’s are the net Buyer on 7th October 2014 is Rs 327.65 Cr.  Option Data: 8200 CE has the highest OI with 54 lakhs and 8100 CE has the second highest OI with 53 lakhs and 7800 PE has the highest OI with 62 lakhs and 7700 PE has the second highest OI with 50 lakhs.  Open Interest: The above options data shows nifty has now a strong support at 7800 and resistance at 8100 the trend change level as per option data is 8000.  Intraday Option Strategy: (A) Buy Nifty 7800 calls and Sell Nifty 8200 puts if buy level is breached. (B) Sell Nifty 8200 calls and Buy Nifty 7700 puts if sell level is breached.
8th Oct’14 Equity Bazaar 
S3S2S1PR1R2R3TrendActionACC 1297.721334.871352.231372.021389.381409.171446.32DownSellAMBUJACEM 202.02205.57207.53209.12211.08212.67216.22UPBuyASIANPAINT 605.92618.27623.68630.62636.03642.97655.32DownSellAXISBANK 351.65364.3368.95376.95381.60389.60402.25DownSellBAJAJ-AUTO 2249.872292.822314.582335.772357.532378.722421.67UPBuyBANKBARODA 805.55841.2853.80876.85889.45912.50948.15DownSellBHEL 179.95189.15193.3198.35202.50207.55216.75DownSellBPCL 619.33635.58643.07651.83659.32668.08684.33DownSellBHARTIARTL 391.88397.43400.42402.98405.97408.53414.08UPBuyCAIRN 268.1281.65286.45295.20300.00308.75322.3DownSellCIPLA 546.07578.17590.18610.27622.28642.37674.47DownSellCOALINDIA 325.25334.05337.8342.85346.60351.65360.45DownSellDLF 126135138.3144.00147.30153.00162DownSellDRREDDY 2881.273007.773053.533134.273180.033260.773387.27DownSellGAIL 411.8425.95434.7440.10448.85454.25468.4UPBuyGRASIM 32093325.053366.153441.103482.203557.153673.2DownSellHCLTECH 1621.151680.91705.051740.651764.801800.41860.15DownSellHDFCBANK 835.38848.28855.37861.18868.27874.08886.98UPBuyHEROMOTOCO 2674.532750.882779.522827.232855.872903.582979.93DownSellHINDALCO 135.42142.72145.48150.02152.78157.32164.62DownSellHINDUNILVR 695.85715.5725.65735.15745.30754.80774.45UPBuyHDFC 962.95994.81006.31026.651038.151058.501090.35DownSellITC 345.82354.12358.43362.42366.73370.72379.02UPBuyICICIBANK 1350.721392.221410.931433.721452.431475.221516.72SidewayNo ActionIDFC 131.02133.72134.88136.42137.58139.12141.82DownSellINDUSINDBK 577.73589.03594.27600.33605.57611.63622.93SidewayNo ActionINFY 3583.883707.533769.423831.183893.073954.834078.48UPBuyJINDALSTEL 148.03156.53159.82165.03168.32173.53182.03DownSellKOTAKBANK 970.77987.87996.831004.971013.931022.071039.17UPBuyLT 1319.021372.571393.681426.121447.231479.671533.22DownSellLUPIN 1319.371347.321357.681375.271385.631403.221431.17DownSellM&M 1257.771312.471334.431367.171389.131421.871476.57DownSellMARUTI 2835.552895.552917.12955.552977.103015.553075.55DownSellNMDC 141.53151.68155.97161.83166.12171.98182.13DownSellNTPC 133.2136.65138.65140.10142.10143.55147UPBuyONGC 374.2386.35391.55398.50403.70410.65422.8DownSellPOWERGRID 131.05133.85135.55136.65138.35139.45142.25UPBuyPNB 838.25857.1866.65875.95885.50894.80913.65UPBuyRELIANCE 905.27916.72921.43928.17932.88939.62951.07DownSellSSLT 233.8248.2253.35262.60267.75277291.4DownSellSBIN 2254.872318.972342.682383.072406.782447.172511.27DownSellSUNPHARMA 770.58807.98821.97845.38859.37882.78920.18DownSellTCS 2537.352651.452691.42765.552805.502879.652993.75DownSellTATAMOTORS 480.07494.12499.53508.17513.58522.22536.27DownSellTATAPOWER 77.8279.3780.2380.9281.7882.4784.02UPBuyTATASTEEL 413.95428.85434.5443.75449.40458.65473.55DownSellTECHM 2434.772477.172495.632519.572538.032561.972604.37DownSellULTRACEMCO 2423.572500.772528.732577.972605.932655.172732.37DownSellWIPRO 595.45606.3612.4617.15623.25628.00638.85UPBuyZEEL 292.82301.27304.88309.72313.33318.17326.62DownSell
8th Oct’14 Equity Bazaar 
Amit Pawar (Research Associate) amit.pawar@choiceindia.com 
Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com 
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com 
For Private Circulation Only Website: www.choiceindia.com 
https://twitter.com/ChoiceBroking https://www.youtube.com/user/ChoiceBroking 
http://www.slideshare.net/choiceindiabroking https://plus.google.com/115293033595831069270/posts 
https://www.facebook.com/pages/Choice-Equity-Broking-Pvt-Ltd/352491718249644 
https://www.linkedin.com/company/choice-international-limited?trk=parent_company_logo
8th Oct’14 Equity Bazaar 
Disclaimer 
This is solely for information of clients of Choice India and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice India its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice India or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice India in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice India has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice India makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. 
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.

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Equity bazaar 08.10.14

  • 1. 8th Oct’14 Equity Bazaar Nifty Nifty Technical View:  After given gap down opening, Nifty prices bounced & made days high but after mid-session sellers continued to dominate the market right from its higher level & finally Nifty future has given almost 99 points downward rally from its day high.  Price Pattern: According to Daily chart, Nifty has formed Large Leg Upper Shadow, a small real body’s with large leg of upper shadows which means during trading session bulls were more antagonistic but not able to conquer price at higher level.  Moving Average: In 2 Hourly chart Nifty has traded below its 50 EMA downward direction which is lesser than 100 EMA. There is a possibility that we may see Nifty can touch 50 EMA or 100 EMA & can drop down for the fresh downward fall.  MACD: The 2 hourly charts MACD is ready to give sell signal.  RSI: RSI is showing negative divergent & is moving towards a near-term oversold condition.  Conclusion: On-2hourly chart, the pair has managed to hold a support near 7880 level. Should the pair now break below this immediate support, it is likely to continue with its corrective move towards 7600 levels. For aggressive trader & passive traders wait & watch policy is good for this situation now Nifty is trading in falling direction therefore breach of 7880 level can drift prices lower for the test of lower levels. Resistance: R1 7947 R2 8002 R3 8089 Pivot : PL 7915 Support : S1 7860 S2 7828 S3 7741 Our Recommendation Buy Nifty above 8030 Stop Loss 7980 Target 8200. Sell Nifty below 7880 Stop Loss 7920 Target 7750.
  • 2. 8th Oct’14 Equity Bazaar Bank Nifty Bank Nifty Technical View:  Bank Nifty remained within a narrow range Bank Nifty is challenging its major support area defined by 15200 levels.  Price Pattern: Bank Nifty has also formed Large Leg Upper Shadow, a small real body’s with large upper shadows which means during trading session bulls were more antagonistic but not able to conquer price at higher level.  Moving Average: In 2-hourly chart, The Bank Nifty is trading below the 50 EMA & 100 EMA with broad distance which is an indication of ongoing bearish trend and this suggests the strength of decline. Henceforth we could possibly see running upward corrections-minor pullback rallies.  MACD: The MACD on the 2hr charts turn below central line but in negative divergence (12days sma trades below 26 days sma) with negative histogram which is a pre indication of strong selling signal.  RSI: The divergence of short term RSI on daily chart is suggesting a caution and to avoid fresh positions at the current levels.  Conclusion: Bank Nifty could trade in broad range. From the current level, the pair is expected to test 15200 support level breaking which 15200 can become next support 14880 levels. The charts suggest that the stock has given breakout & down fall can continue but for confirmation one should wait for breakout below 15200 levels for belligerent trader & for flaccid traders wait & watch policy is good in this situation. Resistance: R1 15285 R2 15408 R3 15595 Pivot : PL 15221 Support : S1 15098 S2 15034 S3 14847 Our Recommendation Buy BNF above 15400 Stop Loss 15300 Target: 15700. Sell BNF below 15000 Stop Loss 15100 Target: 14800.
  • 3. 8th Oct’14 Equity Bazaar Stock of the Day Jubilant Food View:  After sideway correction Jubilant Food has given downward trend line breakout and close above its important support 1228 level.  Chart Pattern: According to daily chart, Jubilant Food has formed Large Real Bodies of Black candlestick which means during trading session bears were more aggressive.  Moving Average: In Hourly chart, Jubilant Food has traded near its 50 & 100 EMA, which is bullish sign. Very soon we will see 50 EMA cross above 100 EMA & this is strong bullish sign.  MACD: The MACD on the hourly charts has turned into quite positive divergence (12days sma trades above 26 days sma) with could be a sign of distribution.  RSI: Oscillator RSI has slipped below the important area of middle line. Currently RSI is near bearish level (48 levels).  Conclusion: The charts suggest that Jubilant Food trades in elevated track consequently tumble can be used as buying opportunities to test sophisticated levels for the day. For short term there is a possibility of upward rally and the next resistance would be watch around Rs.1360 level. Resistance : R1 1284 R2 1316 R3 1369 Pivot : PL 1263 Support : S1 1231 S2 1210 S3 1157 Our Recommendation Buy Jubilant Food above 1288 Stop Loss 1250 Target: 1360
  • 4. 8th Oct’14 Equity Bazaar Derivative Analysis  FIIS Data: FII’s are the net Seller on 7th October 2014 is Rs 332.84 Cr and Dll’s are the net Buyer on 7th October 2014 is Rs 327.65 Cr.  Option Data: 8200 CE has the highest OI with 54 lakhs and 8100 CE has the second highest OI with 53 lakhs and 7800 PE has the highest OI with 62 lakhs and 7700 PE has the second highest OI with 50 lakhs.  Open Interest: The above options data shows nifty has now a strong support at 7800 and resistance at 8100 the trend change level as per option data is 8000.  Intraday Option Strategy: (A) Buy Nifty 7800 calls and Sell Nifty 8200 puts if buy level is breached. (B) Sell Nifty 8200 calls and Buy Nifty 7700 puts if sell level is breached.
  • 5. 8th Oct’14 Equity Bazaar S3S2S1PR1R2R3TrendActionACC 1297.721334.871352.231372.021389.381409.171446.32DownSellAMBUJACEM 202.02205.57207.53209.12211.08212.67216.22UPBuyASIANPAINT 605.92618.27623.68630.62636.03642.97655.32DownSellAXISBANK 351.65364.3368.95376.95381.60389.60402.25DownSellBAJAJ-AUTO 2249.872292.822314.582335.772357.532378.722421.67UPBuyBANKBARODA 805.55841.2853.80876.85889.45912.50948.15DownSellBHEL 179.95189.15193.3198.35202.50207.55216.75DownSellBPCL 619.33635.58643.07651.83659.32668.08684.33DownSellBHARTIARTL 391.88397.43400.42402.98405.97408.53414.08UPBuyCAIRN 268.1281.65286.45295.20300.00308.75322.3DownSellCIPLA 546.07578.17590.18610.27622.28642.37674.47DownSellCOALINDIA 325.25334.05337.8342.85346.60351.65360.45DownSellDLF 126135138.3144.00147.30153.00162DownSellDRREDDY 2881.273007.773053.533134.273180.033260.773387.27DownSellGAIL 411.8425.95434.7440.10448.85454.25468.4UPBuyGRASIM 32093325.053366.153441.103482.203557.153673.2DownSellHCLTECH 1621.151680.91705.051740.651764.801800.41860.15DownSellHDFCBANK 835.38848.28855.37861.18868.27874.08886.98UPBuyHEROMOTOCO 2674.532750.882779.522827.232855.872903.582979.93DownSellHINDALCO 135.42142.72145.48150.02152.78157.32164.62DownSellHINDUNILVR 695.85715.5725.65735.15745.30754.80774.45UPBuyHDFC 962.95994.81006.31026.651038.151058.501090.35DownSellITC 345.82354.12358.43362.42366.73370.72379.02UPBuyICICIBANK 1350.721392.221410.931433.721452.431475.221516.72SidewayNo ActionIDFC 131.02133.72134.88136.42137.58139.12141.82DownSellINDUSINDBK 577.73589.03594.27600.33605.57611.63622.93SidewayNo ActionINFY 3583.883707.533769.423831.183893.073954.834078.48UPBuyJINDALSTEL 148.03156.53159.82165.03168.32173.53182.03DownSellKOTAKBANK 970.77987.87996.831004.971013.931022.071039.17UPBuyLT 1319.021372.571393.681426.121447.231479.671533.22DownSellLUPIN 1319.371347.321357.681375.271385.631403.221431.17DownSellM&M 1257.771312.471334.431367.171389.131421.871476.57DownSellMARUTI 2835.552895.552917.12955.552977.103015.553075.55DownSellNMDC 141.53151.68155.97161.83166.12171.98182.13DownSellNTPC 133.2136.65138.65140.10142.10143.55147UPBuyONGC 374.2386.35391.55398.50403.70410.65422.8DownSellPOWERGRID 131.05133.85135.55136.65138.35139.45142.25UPBuyPNB 838.25857.1866.65875.95885.50894.80913.65UPBuyRELIANCE 905.27916.72921.43928.17932.88939.62951.07DownSellSSLT 233.8248.2253.35262.60267.75277291.4DownSellSBIN 2254.872318.972342.682383.072406.782447.172511.27DownSellSUNPHARMA 770.58807.98821.97845.38859.37882.78920.18DownSellTCS 2537.352651.452691.42765.552805.502879.652993.75DownSellTATAMOTORS 480.07494.12499.53508.17513.58522.22536.27DownSellTATAPOWER 77.8279.3780.2380.9281.7882.4784.02UPBuyTATASTEEL 413.95428.85434.5443.75449.40458.65473.55DownSellTECHM 2434.772477.172495.632519.572538.032561.972604.37DownSellULTRACEMCO 2423.572500.772528.732577.972605.932655.172732.37DownSellWIPRO 595.45606.3612.4617.15623.25628.00638.85UPBuyZEEL 292.82301.27304.88309.72313.33318.17326.62DownSell
  • 6. 8th Oct’14 Equity Bazaar Amit Pawar (Research Associate) amit.pawar@choiceindia.com Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com For Private Circulation Only Website: www.choiceindia.com https://twitter.com/ChoiceBroking https://www.youtube.com/user/ChoiceBroking http://www.slideshare.net/choiceindiabroking https://plus.google.com/115293033595831069270/posts https://www.facebook.com/pages/Choice-Equity-Broking-Pvt-Ltd/352491718249644 https://www.linkedin.com/company/choice-international-limited?trk=parent_company_logo
  • 7. 8th Oct’14 Equity Bazaar Disclaimer This is solely for information of clients of Choice India and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice India its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice India or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice India in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice India has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice India makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.