The document provides a daily market summary and outlook for July 18, 2016. It summarizes that the Nifty opened flat but moved higher later in the day, finding resistance at 8600. Bank Nifty performed better than broader markets. Infosys and TCS fell sharply after quarterly earnings reports. The document analyzes technical indicators and provides recommendations to buy or sell various stocks.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness flat opening in Nifty around 8560 level on back of SGX
Nifty and other Asian counters which is trading on positive note today.
Nifty ended lower on Friday as TCS and Infosys fell sharply after unveiling
their quarterly earnings. Tata Consultancy Services lost 3% after giving a
cautious commentary, while Infosys fell as much as 9% after revising its FY17
revenue dollar guidance on the lower side. Infosys expects FY17 revenue to
grow at a slower pace between 10.5 percent and 12 percent in constant
currency versus its previous estimate of 11.5-13.5 percent. Market
participants also turned cautious ahead of another major result
announcement of Reliance Industries, as the company is expected to report a
modest profit growth, while the income is likely to fall marginally, impacted
by a planned refinery shut down and lower refining margins. However, losses
remained capped with the report that Monsoon rains in India were 11
percent above average in the week ended July 13, 2016. The monsoon rains
covered the entire country, cheering farmers planting crops such as rice,
soybeans, cotton and pulses in the summer sowing season that starts in June.
On the global front, Asian markets ended mostly in green on Friday as better-
than-expected Chinese economic data helped outweigh news of a horrific
terrorist attack in Nice, France. However, European stocks were trading lower
weighed by a terror attack carried out by using a heavy truck in the southern
French city of Nice that killed at least 80 people.
The top gainers in Nifty index were TATASTEEL, BHARTIARTL, IDEA, HDFC,
HDFCBANK. While on the other hand, top losers were INFY, TCS, WIPRO,
TECHM, AUROPHARMA.
18th July,2016
SENSEX 27,837 -0.38%
NIFTY 8,541 -0.28%
SGX Nifty* 8,580 0.22%
Global Indices
Dow Jones 18,517 0.05%
Nasdaq 5,030 -0.09%
FTSE 6,669 0.22%
DAX 10,067 -0.01%
Straits Times 2,932 0.24%
Nikkei 225 16,498 0.68%
Hang Seng 21,671 0.05%
Commodities
Gold 30,977 0.09%
Silver 47,275 -0.49%
Natural Gas 185 0.81%
Crude Oil 3,081 1.14%
Currency
Dollar / Rupee 67.06 0.22%
Euro / Rupee 74.23 0.19%
Pound / Rupee 88.78 0.28%
Volumes Rs.mn
Cash BSE 39,136 26.35
Cash NSE 228,557 25.71
FII Activities Rs.Cr.
Purchase Sale Net
5481.82 4,212 1269.62
MF Activities Rs.Cr.
Purchase Sale Net
6431.2 4,135 2296.5
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
18th July,2016
L1 L2 L3
R 8587 8634 8672
S 8503 8464 8418
21 DEMA 8303
50 DEMA 8134
100 DEMA 7856
Moving Averages
L1 L2 L3
R 19056 19158 19299
S 18812 18670 18568
21 DEMA 18002
50 DEMA 17530
100 DEMA 16561
Moving Averages
 Nifty continued to moved higher in slow and steadily manner. It opened on flat note and mild
nervousness observed in initial part of the day but moved higher in later part of trading session.
 Some of the speculation based on technical analysis indicates that market is approaching to its apex
point in short term but price action has not confirmed yet. In ongoing week we have not seen
violation of previous day low. So unless and until past 2 day low does not violated till then we can
hold positive view.
 Nifty has find resistance at psychological figure at 8600 level which raises red flag. Fresh follow up
buying can be expected above 8600.
 As of now Mid cap sector still keeping its pace high among its other index. On downside support at
8480 level.
 After 2 days tiredness Bank Nifty came into action. Bank nifty continued to perform better then
broader index, it shows its relative strength is on higher side.
 Bank Nifty has entered into previous supply zone, so here we need to be cautious at current level.
 From candlestick perspective Bank nifty has also formed bull candle and continued move on higher
direction. Inspite to sideways move Index has not violated its previous day low.
 Among Bank Nifty 7 out of 12 stock ended on positive note, there was divergence trend in banking
stock.
 Going forward, Nifty seems to be in range of 18400 to 18900 level. On higher side 18900 to 19000
seems to be immediate resistance.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The VIX increased by 0.18% and reached 15.63. The 50-share Nifty
was down by 23.60 points or 0.28% to settle at 8,541.40.
Nifty July 2016 futures closed at 8554.85 on friday at a premium of
13.45 points over spot closing of 8,541.40, while Nifty August 2016
futures ended at 8591.25 at a premium of 49.85 points over spot
closing. Nifty July futures saw addition of 0.45 million units, taking
the total outstanding open interest (OI) to 22.51 million units.
Among Nifty calls, 8600 SP from the July month expiry was the
most active call with an addition of 0.41 million open interests.
Among Nifty puts, 8500 SP from the July month expiry was the
most active put with a contraction of 0.26 million open interests.
The maximum OI outstanding for Calls was at 8700 SP 5.27 mn and
that for Puts was at 8400 SP 5.68 mn. From the most active
contracts, SBI July 2016 futures traded at a premium of 0.40 points
at 231.50. PNB July 2016 futures traded at a discount of 0.95
points at 135.45. BANKBARODA July 2016 futures traded at a
premium of 1.20 points at 165.00. Tata Steel July 2016 futures
traded at a discount of 6.35 points at 365.85. Axis Bank July 2016
futures traded at a premium of 0.60 points at 565.85.
The Nifty PCR finally stood at 1.14 for July month contract. The top
five scrips with highest PCR on OI were HDFC (1.66), Maruti (1.35),
JSW Steel (1.25), Canara Bank (1.17) and Hero MotoCorp (1.16).
18th July,2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
ORIENTBANK 122.55 0.95 13.33 124.73
PNB 135.45 8.53 5.28 136.94
KTKBANK 151.30 4.13 5.12 153.42
BEL 1257.95 0.55 4.97 1272.77
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
CANBK 252.50 7.26 -10.58 255.19
BANKINDIA 114.05 1.74 -10.57 115.64
CONCOR 1464.00 2.22 -10.57 1473.32
BPCL 556.8 1.85 -7.96 560.89
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
INFY 1076.85 -10.06 28.99 1127.16
TCS 2442.70 -1.65 14.14 2479.56
BIOCON 706.75 -2.71 10.45 721.00
HEXAWARE 218.4 -2.74 6.13 223.08
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
OFSS 3525.55 -0.74 -9.31 3552.52
IBREALEST 88.15 -3.82 -7.03 89.75
KPIT 143.95 -2.67 -4.05 145.84
NMDC 95.60 -2.50 -3.76 96.52
CIPLA COVERED CALL
View – Bullish
Max. Profit of Rs. 25350, Approx. Loss of Rs.
7650 at SL level of 507
Expiry Date - 28th July 2016
Future
BUY /
SELL
QTY SERIES TYPE
Market
Price
BUY 1000 JULY Fut 519
Option
BUY /
SELL
QTY
STRIKE
PRICE
SERIES
OPTION
TYPE
Premium
SELL 1000 540 JULY CE 4.35
-60.00
-40.00
-20.00
0.00
20.00
40.00
475.00 491.00 507.00 523.00 539.00 555.00

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
18th July,2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1616 1695 1659 1637 1623 1601 1587 1551 Down Sell
ADANIPORTS 220 232 226 223 221 218 215 210 Down Sell
AMBUJACEM 261 272 267 264 262 259 257 251 Down Sell
ASIANPAINT 1026 1052 1038 1032 1025 1019 1012 999 Up Buy
AUROPHARMA 759 810 787 773 765 751 742 720 Down Sell
AXISBANK 565 593 578 572 564 557 549 535 Up Buy
BAJAJ-AUTO 2695 2753 2720 2707 2687 2675 2655 2622 Up Buy
BANKBARODA 164 176 171 167 165 162 160 154 Down Sell
BHARTIARTL 379 404 389 384 375 369 360 346 Up Buy
BHEL 142 150 147 145 143 141 140 136 Down Sell
BOSCHLTD 23879 24850 24300 24089 23750 23539 23200 22650 Up Buy
BPCL 554 575 564 559 553 548 542 531 Up Buy
CIPLA 516 532 524 520 515 511 506 498 Up Buy
COALINDIA 320 337 329 324 321 316 313 305 Down Sell
DRREDDY 3604 3694 3644 3624 3594 3574 3544 3494 Up Buy
EICHERMOT 19810 20413 20073 19942 19733 19602 19393 19053 Up Buy
GAIL 391 408 400 396 393 388 385 378 Down Sell
GRASIM 4802 4999 4898 4850 4798 4749 4697 4596 Up Buy
HCLTECH 715 781 752 734 722 704 692 662 Down Sell
HDFC 1360 1450 1400 1380 1350 1330 1300 1250 Up Buy
HDFCBANK 1226 1278 1247 1236 1216 1205 1185 1154 Up Buy
HEROMOTOCO 3240 3382 3318 3279 3255 3216 3191 3127 Down Sell
HINDALCO 138 142 140 139 137 136 135 132 Up Buy
HINDUNILVR 944 981 962 953 943 934 923 904 Up Buy
ICICIBANK 266 279 273 269 266 263 260 253 Down Sell
IDEA 111 117 114 112 110 109 106 103 Up Buy
INDUSINDBK 1128 1171 1148 1138 1126 1115 1103 1080 Up Buy
INFRATEL 354 371 362 358 354 350 345 337 Down Sell
INFY 1071 1380 1242 1156 1104 1019 966 828 Down Sell
ITC 249 260 255 252 250 247 245 240 Down Sell
KOTAKBANK 772 800 787 779 773 766 760 747 Down Sell
LT 1585 1655 1617 1601 1579 1563 1541 1503 Up Buy
LUPIN 1670 1744 1707 1688 1669 1651 1632 1595 Up Buy
M&M 1463 1538 1502 1482 1466 1446 1430 1394 Down Sell
MARUTI 4477 4636 4547 4512 4458 4423 4369 4280 Up Buy
NTPC 156 180 166 161 152 147 138 124 Up Buy
ONGC 230 238 234 232 230 228 227 223 Down Sell
POWERGRID 164 171 168 166 165 163 161 158 Down Sell
RELIANCE 1014 1048 1030 1022 1013 1005 995 978 Up Buy
SBIN 231 239 236 233 232 230 228 225 Down Sell
SUNPHARMA 772 792 781 776 770 766 760 749 Up Buy
TATAMOTORS 494 536 514 504 492 482 470 448 Up Buy
TATAMTRDVR 312 342 327 319 311 304 296 281 Up Buy
TATAPOWER 72 75 73 72 72 71 70 69 Down Sell
TATASTEEL 372 403 385 379 368 361 350 332 Up Buy
TCS 2445 2669 2568 2506 2466 2405 2365 2264 Down Sell
TECHM 505 554 532 519 510 497 488 466 Down Sell
ULTRACEMCO 3520 3633 3581 3551 3529 3498 3477 3424 Down Sell
WIPRO 556 605 583 569 561 548 540 518 Down Sell
YESBANK 1175 1225 1200 1187 1174 1162 1148 1123 Up Buy
ZEEL 469 490 479 474 469 464 458 448 Up Buy

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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Research Associate
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18th July,2016
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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: 2016.07.18 09:01:41 +05'30'