Today, Nifty may see a gap up opening around 8782, supported by positive trends in Asian markets and an optimistic statement from the finance minister regarding the implementation of GST. Despite a recent uptick, concerns over bad loans and infrastructure issues remain, with investors awaiting the upcoming monetary policy review on October 4. The report indicates India's competitiveness is improving, yet highlights that certain limitations could impact its growth trajectory.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness gap up opening in Nifty around 8782 level on back of
SGX Nifty and other Asian counters which is trading on positive note today.
Nifty traded in green throughout the day and ended with a gain of almost half
a percent on Wednesday. After a cautious start, market managed to trade in
green, as sentiment remained upbeat with Finance Minister Arun Jaitley’s
statement that the government is confident of meeting the April 2017 target
to implement the Goods and Services Tax as state finance ministers cooperate
to make the single tax reform a reality soon. Adding the cheer among the
investors, the latest edition of the Global Competitiveness Index of World
Economic Forum (WEF) indicated that India is the second most competitive
BRICS economy and will grow faster than China this year. The report showed
India’s competitiveness improved the fastest in 2015-16, jumping 16 places to
rank 39th among 138 countries on the index. However, the report also
indicated that huge bad loans, lack of infrastructure and stagnating
performance on technological readiness are among the major drags on India's
global competitiveness. Investors are anxiously awaiting the monetary policy
review on October 4, the first to be held under RBI Governor Urjit Patel and
the first to be decided by a six-member panel. Furthermore, Asian
Development Bank retained its projections for India's economic growth at
7.4% for the current financial year, 0.2 percentage points lower than what
was clocked in 2015-16. On the global front, Asian equity markets ended
mostly lower on Wednesday, with Japanese shares selling off amid a relatively
stronger yen. Chinese stocks weakened despite strength in property shares,
with thin trading indicating investors' reluctance to participate days ahead of
the week-long National Day holiday that starts on October 1.
The top gainers in Nifty index were EICHERMOT, HINDALCO, IDEA,
TATASTEEL, ZEEL. While on the other hand, top losers were RELIANCE,
TECHM, COALINDIA, HINDUNILVR, SUNPHARMA.
29th September, 2016
SENSEX 28,293 0.24%
NIFTY 8,745 0.44%
SGX Nifty* 8,798 0.41%
Global Indices
Dow Jones 18,339 0.60%
Nasdaq 5,319 0.24%
FTSE 6,849 0.61%
DAX 10,438 0.74%
Straits Times 2,875 0.58%
Nikkei 225 16,699 1.40%
Hang Seng 23,695 0.32%
Commodities
Gold 30,955 -0.07%
Silver 45,583 0.20%
Natural Gas 198 -2.62%
Crude Oil 3,061 2.81%
Currency
Dollar / Rupee 66.46 -0.03%
Euro / Rupee 74.53 0.19%
Pound / Rupee 86.48 0.15%
Volumes Rs.mn
Cash BSE 56,944 97.03
Cash NSE 216,053 13.15
FII Activities Rs.Cr.
Purchase Sale Net
7726.92 5,197 2530.17
MF Activities Rs.Cr.
Purchase Sale Net
9467.8 7,708 1759.8
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
29th September, 2016
L1 L2 L3
R 8774 8802 8838
S 8710 8675 8646
21 DEMA 8759
50 DEMA 8654
100 DEMA 8453
Moving Averages
L1 L2 L3
R 19733 19811 19923
S 19542 19431 19352
21 DEMA 19734
50 DEMA 19308
100 DEMA 18606
Moving Averages
 After 4 day fall Nifty recovered partially, Index opened on mild flattish note but mover higher
thereafter.
 As Nifty has broken its tiny channel and formed lower top which is negative development on chart, so
one day movement cannot wipe out prevailing sentiment.
 Negative DMI took dominant position and raised above 25 level which indicate strengthening trend on
lower side.
 Going forward, sustainability below 8680 level can lead to further correction and on higher side 8780
to 8800 range can act as resistance.
 After a 4 day fall Bank Nifty took pause in in its selling spree, index opened on positive note and
thereafter moved higher.
 From candlestick perspective Bank Nifty has formed inside candle which indicate price movement was
compressed in its previous day move.
 Bank Nifty has breached its 21 DMA and upward sloping trendline which is negative development on
chart from short term perspective.
 Going forward mild negative bias can be maintained upto 19400 to 19450 level where market has
traded in balance on higher side resistance appear at 19800 level.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The India VIX contraction by 2.82% and reached 13.84. The
Nifty was up by 38.75 points or 0.45% to settle at 8,745.15.
From the most active contracts, State Bank of India
September 2016 futures traded at a premium of 0.60
points at 254.60 compared with spot closing of 254.00. Axis
Bank September 2016 futures traded at a premium of 0.25
points at 549.55 compared with spot closing of 549.30.
Punjab National Bank September 2016 futures traded at a
discount of 0.10 points at 146.65 compared with spot
closing of 146.75. Tata Motors September 2016 futures
traded at a discount of 0.05 points at 540.35 compared
with spot closing of 540.40. Tata Steel September 2016
futures traded at a discount of 0.35 points at 380.85
compared with spot closing of 381.20.
The Nifty PCR finally stood at 1.35 for September month
contract. The top five scrips with highest PCR on OI were
MRF (3.00), EICHERMOT (2.68), NIITTECH (1.66), MARUTI
(1.48) and CENTURYTEX (1.28).
29th September, 2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
TV18BRDCST 47.30 6.29 -154.56 49.23
TATACOMM 543.40 3.45 -143.25 552.32
PTC 78.35 0.45 -117.63 79.00
PAGEIND 15306.6 2.54 -117.56 15547.21
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
DIVISLAB 1318.70 -0.32 -114.22 1323.65
UPL 685.10 -0.04 -86.42 689.23
BHARATFORG 947.10 -0.30 -84.55 966.87
HDFCBANK 1298.65 -0.12 -81.00 1303.29
LUPIN COVERED CALL

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
29th September, 2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1613 1643 1633 1623 1613 1603 1593 1573 Up Buy
ADANIPORTS 271 285 278 275 268 265 258 249 Up Buy
AMBUJACEM 260 267 265 262 259 257 254 249 Up Buy
ASIANPAINT 1194 1213 1207 1200 1194 1187 1181 1168 Down Sell
AUROPHARMA 869 896 889 879 873 863 856 839 Down Sell
AXISBANK 549 563 557 553 547 543 537 527 Up Buy
BAJAJ-AUTO 2912 2988 2956 2934 2903 2881 2849 2796 Up Buy
BANKBARODA 168 177 173 171 167 165 161 155 Up Buy
BHARTIARTL 323 339 331 327 319 315 307 294 Up Buy
BHEL 144 149 147 145 143 142 139 135 Up Buy
BOSCHLTD 23280 24225 23772 23526 23074 22828 22375 21677 Up Buy
BPCL 616 631 625 620 615 610 605 594 Up Buy
CIPLA 607 622 617 612 607 602 597 587 Down Sell
COALINDIA 329 342 339 334 331 326 323 314 Down Sell
DRREDDY 3203 3265 3246 3225 3206 3185 3166 3126 Down Sell
EICHERMOT 26010 27922 26983 26497 25558 25072 24133 22708 Up Buy
GAIL 375 384 381 378 376 372 370 364 Down Sell
GRASIM 4875 4998 4948 4911 4862 4825 4776 4689 Up Buy
HCLTECH 799 816 809 804 797 792 785 773 Up Buy
HDFC 1421 1444 1438 1429 1423 1415 1408 1394 Down Sell
HDFCBANK 1296 1312 1306 1301 1295 1290 1284 1273 Up Buy
HEROMOTOCO 3450 3513 3498 3474 3459 3435 3420 3381 Down Sell
HINDALCO 157 171 164 161 155 151 145 135 Up Buy
HINDUNILVR 888 919 910 899 890 879 871 851 Down Sell
ICICIBANK 261 266 264 262 261 259 257 254 Up Buy
IDEA 83 88 85 84 82 80 78 74 Up Buy
INDUSINDBK 1221 1256 1241 1231 1216 1206 1190 1165 Up Buy
INFRATEL 362 379 373 368 362 356 350 339 Up Buy
INFY 1038 1051 1047 1042 1038 1033 1029 1020 Up Buy
ITC 247 253 251 249 247 245 243 240 Down Sell
KOTAKBANK 783 803 798 790 784 777 771 758 Down Sell
LT 1453 1496 1481 1467 1453 1439 1424 1396 Up Buy
LUPIN 1525 1553 1541 1533 1521 1513 1501 1482 Up Buy
M&M 1385 1413 1401 1393 1381 1373 1362 1342 Up Buy
MARUTI 5528 5602 5579 5553 5530 5504 5481 5432 Down Sell
NTPC 153 155 154 153 153 152 151 150 Down Sell
ONGC 251 261 257 254 250 247 243 236 Up Buy
POWERGRID 178 182 181 179 178 176 175 172 Up Buy
RELIANCE 1089 1124 1116 1103 1094 1081 1073 1051 Down Sell
SBIN 254 265 260 257 253 249 245 237 Up Buy
SUNPHARMA 765 782 778 772 768 761 757 747 Down Sell
TATAMOTORS 540 561 553 547 539 533 525 511 Up Buy
TATAMTRDVR 342 356 350 346 341 337 332 323 Up Buy
TATAPOWER 76 78 77 77 76 75 74 73 Up Buy
TATASTEEL 381 400 391 386 377 372 363 349 Up Buy
TCS 2425 2459 2448 2437 2426 2414 2404 2381 Down Sell
TECHM 441 456 453 447 443 437 433 424 Down Sell
ULTRACEMCO 3970 4084 4035 4003 3954 3922 3873 3792 Up Buy
WIPRO 483 489 487 485 483 481 478 474 Up Buy
YESBANK 1271 1312 1293 1282 1264 1252 1234 1204 Up Buy
ZEEL 551 585 568 560 543 535 518 493 Up Buy

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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29th September, 2016
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Kapil Shah
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Date: 2016.09.29 09:21:05 +05'30'