HDFC Morning Market Note - Market Outlook and technical analysis for the day - read about updates on Indian markets as well as world markets, currencies, commodities, key events, economy and corporate news, as well as stock ideas.

1. Morning Note
Retail Research
Key Indices Sep 08 % Chg
Sensex 27320 +1.08
Nifty 8174 +1.08
BSE 500 10442 +1.17
DJIA* 17111 -0.15
Nasdaq* 4592 +0.20
MSCI Emerging Markets* 1095 -0.17
MSCI AC Pacific* 145 -0.17
MSCI World* 1744 -0.36
*= in USD
Sectoral Indices Sep 08 % Chg
Major Gainers
BSE OIL & GAS 11661 +1.79
BSE FMCG 7462 +1.40
Major Losers
BSE CD 9639 -0.22
- - -
Top Gainers
(BSE-100) CMP (Rs) % Chg
Godrej Corp 1074.30 +5.79
Siemens 890.90 +4.61
Hind Petro 495.10 +4.32
Top Losers
(BSE-100) CMP (Rs) % Chg
Reliance Infra 689.30 -2.10
Shriram Transport 972.15 -1.69
NTPC 140.45 -1.61
52 Week High Price (Rs)
Abbot India 2839.00
Atul Auto 801.95
52 Week Low Price (Rs)
CML 233.65
CTL 88.00
Turnover (Rs bn) NSE BSE
Sep 08 177.87 36.02
5 days average 173.38 36.81
Advance-Decline NSE BSE
Sep 08 2.98:1 2.16:1
5 days average 1.46:1 1.32:1
Volatility Index (ViX) Nifty CBOE
Sep 08 12.79 12.66
5 days average 13.13 12.40
Net Flows (Cr) Debt FII FII MF
Sep 05 +1312.6 +327.3 -
Cumulative for
Sep +6563.2 +4803.1 -
5 days average +1312.6 +960.6 -
Interest Rates 3 month Chg bps
MIBOR 8.89 +0.00
10 yr bond yield 8.50 -2.00
LIBOR – UK 0.56 +0.00
LIBOR – USA 0.23 +0.00
LIBOR – Europe 0.06 +0.00
Exchange Rates Value % Chg
USD/INR 60.26 -0.30
USD/EURO 0.78 +0.44
USD/YEN 106.04 +0.90
USD/POUND 0.62 +1.37
Other# Value % Chg
RJ/CRB Index 286.75 -0.44
Gold ($ / Oz) 1252.70 -1.07
Crude Oil ($ / Barrel) 92.66 -0.68
Brent Oil ($ / Barrel) - -
1
Market Round Up Sept 09, 2014
Indian Markets
 The Nifty was hovering around its fresh all-time high of 8,150 and the Sensex was up
209 points at 27,235. Earlier in the day, the 30- share Sensex had surged to a new a
record high at 27,262.25.
 The market breadth on NSE ended firm with 1108 shares advancing and 362 shares
declining. NSE cash turnover was Rs 17751 crs Vs. Rs. .17587 crs. in the previous
session.
 Broader markets surged with teh small cap index up 2% and the midcap index
advanced over 1%, keeping up its outperforming trend intact profit taking emerged in
Consumer Durables and power pockets with the respective indices down 0.5% and
0.1%. L&T have gained nearly 1% to Rs 1,623, Hindalco, HUL, HDFC Bank, Sesa
Sterlite, SBI, TCS and Wipro up 1-3% were the other prominent gainers.
 As per the provisional figures on Monday, FIIs were net buyers of Rs. 1163 cr in the
cash market, and also the net buyers of Rs. 844 cr in the F&O markets. However, DIIs
were net sellers of Rs. 508 cr in the cash market.
US & European Markets
 U.S. stocks eased Monday, as investors took a breather following last week's gains
and continued to weigh the outlook for interest-rate hikes by the Federal Reserve.
Energy companies, meanwhile, posted steep losses, as domestic oil prices fell to their
lowest level in eight months.
 The Dow Jones industrial average fell 0.15 percent, to 17,111.42, the S&P 500 lost
0.31 percent, to 2,001.53 and the Nasdaq Composite added 0.2 percent, to 4,592.29.
 European stock markets pulled back Monday after four straight weekly gains, as a poll
over the weekend put the pro-Scottish-independence camp in the lead for the first
time, spooking investors.
 France’s CAC 40 gave up 0.3% to 4,474.93. Germany’s DAX 30 index fared relatively
better, rising 0.1% to 9,758.03 “as the surprise rate cut on Thursday continues to be a
boon for the export-led economy.
 The Indian ADRs ended on a mix note. Infosys, Tata motor, Dr, Reddy’s gained
0.29%, 0.14% & 0.3% respectively. However, ICICI & HDFC Bank fell by 0.56%,
1.51% respectively.
Latin American Markets
 Among the Latin American markets, the Brazilian markets ended lower by 2.5% while
Mexico was up 0.3%.
Asian Markets
 Among Asian markets, Taiwan, Singapore and Nikkei are up 0.28%, 0.11% and
0.30% respectively (0825 Hrs IST) while Indonesia and Korea are down 0.31% and
0.33% respectively.
 As of IST 8.40 am SGX Nifty is trading higher by 3.0 points.
Currencies
 On Monday, the rupee rose to its highest since July, as US jobs data missed
estimates. This mitigated speculation the US Federal Reserve would opt for a planned
rate increase. The rupee closed at 60.3 a dollar, compared with its previous close of
60.41 a dollar.
 The euro was steady against the dollar on Monday, holding above 14-month lows in
the wake of Friday’s disappointing U.S. jobs report and the European Central Bank’s
fresh easing measures on Thursday.
Commodities
 Oil for Oct 2014 contract fell 0.68% at $92.66/barrel.
 Gold for Dec 2014 delivery dropped 1.03% at $1254.30/troy ounce.
Key Events for Today
 Japan – Adjusted Economy Watchers Current Index, USD/JPY Index,, Tertiary
Industry Activity Index (MoM), Monetary Policy Meeting Minutes, M2 Money Stock
(YoY)
 UK – Halifax House Price Index, BRC Retail Sales Monitor (YoY)
 EU – EUR/USD Index, German Trade Balance, Sentix Investor Confidence
 US – Gold index, CB Employment Trends Index, 3 & 6 Month Bill Auction
Outlook
Indian markets could open flat and inch up mildly during the early part of the day. The comments
in/decision of the Supreme Court on the coal block allocation case will have material impact on
the market move later in the day. Strong support for Nifty is at 8090 level, while immediate
resistance is at 8230 level.
For fresh and / or open calls refer to page 4

2. Technical Analysis – Market Pulse Sept 09, 2014
Nifty Perspective Support Resistance 21 Day EMA Stock Pick
8173.90 Bullish 8120 – 8090 8230 – 8300 7940 -----
Nifty Trend Target Reversal
Near Term (1-7 days) Up 8230 - 8300 8050
Short Term (7-21 days) Up 8300 7940
Bears Visarjan.
Yesterday’s action formed a bull candle with reasonable volumes which indicates bulls are continuing their momentum in the near term.
Technically, index has surpassed the 61.8% projection level and made new life time high and close. The index has provided a breakout
from its three days consolidation phase which indicates that the prices will move up in the short term. As the price has taken out the
crucial supply zone of 6142 (100% Projection level) bulls could outperform toward 8300 (100% Projection level) in the near term. The
rising channel setup is intact which could provide further strength to the bulls to move ahead. In addition the chart formations are
continuing with higher tops and higher bottoms. The near term trend reversal remains at 8050. As long as index stays above this level it
remains in an uptrend and it would head towards 8230 - 8300.
Market breadth is quite strong with A/D ratio of 1154 / 387. Mid and small caps could outperform in the near term.
In the perspective of wave; Major “wave v” is extending towards 8300 levels.
Retail Research
2

3. Retail Research
For forthcoming Board Meeting on Sep 09, 2014
click on the following link
http://www.bseindia.com/mktlive/board_meeting.asp#1
3
News Flash Sept 09, 2014
Economy News
 The Reserve Bank of India was seen buying dollars via state-run banks to prevent
further appreciation in the rupee. State-run banks started buying dollars
aggressively likely on behalf of the central bank when the rupee hit around 60.20
levels, the strongest since July 30. The rupee strengthened after US monthly jobs
data on Friday was weaker than expected.
 Underlining that the new Indian government was focused on eliminating
developmental challenges, a high-level business delegation from Gujarat has called
American companies to invest and explore business opportunities in the state and
India.
Corporate News
 Larsen & Toubro (L&T) has bagged contracts worth Rs 1,920 crore in its
hydrocarbon business in the offshore and onshore segments.
 Bharat Heavy Electricals Limited's city-based Electronics Division has bagged an
order from National Power Training Institute for design, engineering, testing,
supply, installation and commissioning of Operator Training Simulator for 800MW
Super Critical Power Plant.
 Bharat Forge has sold 50 per cent stake in its joint venture company Impact
Automotive Solutions Ltd for Rs 10.80 crore.
 Bharti Airtel has divested its African telecoms tower assets to Eaton Towers. The
Indian telecom major has signed a 10-year contract to sell and lease back over
3500 towers to Eaton in six countries.
 Apollo Hospitals is exploring partnership opportunities in the super-specialty
sector of the healthcare industry in Bahrain.
Bulk Deals
Scrip Name Quantity (in lakhs) Fund Name Price
Indoborax +0.16 WALLFORT FINANCIAL SERVICES LTD 261.44
Amrutanjan -0.84 CROSSEAS CAPITAL SERVICES PRIVATE LIMITED 317.75
Key Corporate Action
BC/RD
SCRIP NAME BC/RD
FROM EX-DATE PURPOSE
Balmer Lawri BC 11/09/2014 09/09/2014 AGM, 180% Dividend
GMR Infra BC 11/09/2014 09/09/2014 AGM, 10% Dividend
Lakshmi Mill BC 11/09/2014 09/09/2014 AGM, 15% Dividend
NDL BC 11/09/2014 09/09/2014 AGM, 12% Final Dividend
Pidilite Industries BC 11/09/2014 09/09/2014 AGM, 270% Final Dividend

4. Stock Ideas Sept 09, 2014
Retail Research
4
Update of Index Futures
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
5 Sep 14 S Bank Nifty 16020.00 16125.0 15800.0 16125.0 8-Sep-14 -0.7 Stop Loss Triggered 1-5 Days 16020.00 -105.0
4-Sep-14 S Nifty Sept Fut 8110 8145 8050 8145 5-Sep-14 -0.4 Stoploss Trigg. 2-3Days 8110 -35.0
4-Sep-14 S Nifty Sept Fut 8112.35 8157 8000 8096.7 4-Sep-14 0.2 Premature Profit Booked 1-5 days 8112.35 15.7
Update of Stock and Nifty Options Calls:
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date % G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
8 Sep 14 B TCS 2700 Call 25.00 15.5 50.0 25.5 2.0 Hold 1-5 Days 25.00 0.5
8-Sep-14 B Adani Ent 520 Call Sept 21.8 9.4 45 19.75 -9.4 Hold 3-5 Days 21.8 -2.1
5-Sep-14 B BHEL 220 Put Sept 9.2 4.8 20.0 6.8 -26.1 Hold 3-5 Days 9.2 -2.4
4-Sep-14 B Nifty 8050 Put Sept 73.65 49.0 124.0 49.00 8-Sep-14 -33.5 Stoploss Trigg. 3-5 Days 73.65 -24.7
4-Sep-14 B SBIN 2250 Put Sept 5.00 2.4 10.0 2.40 8-Sep-14 -52.0 Stoploss Trigg. 3-5 Days 5.00 -2.6
4-Sep-14 B Apollo Tyres 180 Put 5.1 2.8 10.0 3.9 4-Sep-14 -24.5 Exit 2-3 days 5.1 -1.3
3-Sep-14 B Tata Motors 520 Put Sept 12.75 6.5 24.0 18.00 4-Sep-14 41.2 Premature Profit Booked 3-5 Days 12.75 5.3
3-Sep-14 B TCS Sept 2600 Calls 50.00 33.0 80.0 66.35 3-Sep-14 32.7 Premature Profit Booked 1-7 days 50.00 16.4
2-Sep-14 B HUL 720 Put Sept 10.00 5.5 19.0 7.20 5-Sep-14 -28.0 Premature Exit 2-3 Days 10.00 -2.8
2-Sep-14 B Biocon 500 CALL 13.55 7.5 25.0 15.3 4-Sep-14 12.9 Premature Profit Booked 2-3 days 13.6 1.8
2 Sep 14 B IDFC 150 Call 3.80 2.4 7.0 2.4 4 Sep 14 -36.8 Stop loss Triggered 1-3 Days 3.80 -1.4
2 Sep 14 B LT 1600 Call 40.50 26.5 60.0 47.4 3 Sep 14 17.0 Premature Profit Booked 1-5 Days 40.50 6.9
2 Sep 14 B CAIRN 340 Call 4.60 3.0 8.0 5.4 2 Sep 14 17.4 Premature Profit Booked 1-5 Days 4.60 0.8
2-Sep-14 B L&T1650 Call Sept 22.50 12.0 45.0 24.05 6.9 Hold 3-5 Days 22.50 1.6
1-Sep-14 B Century Textile 620 Call 16 11.5 30 19.2 2-Sep-14 20.0 Premature Profit Booked 2-3 days 16 2.5
1-Sep-14 B Tata Motors 520 Put Sept 13.80 6.5 25.0 17.70 2-Sep-14 28.3 Premature Profit Booked 3-5 Days 13.80 3.9
26-Aug-14 B Reliance 980 Put Sept 18.70 9.9 35.0 9.90 1-Sep-14 -47.1 Stop loss Triggered 3-5 Days 18.70 -8.8
Update of Momentum / Intra Day/Futures Calls:
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
8-Sep-14 B Igarshi Motors 289 279 312 307.7 8-Sep-14 6.5 Premature Profit Booked 2-3 days 289 18.7
8-Sep-14 B Aban 761.00 730.0 810.0 761.0 0.0 Hold 3-7 days 761.00 0.0
8-Sep-14 B TV18BRDCST 29.95 28.5 35 29.65 -1.0 hold 5-10 days 29.95 -0.3
8-Sep-14 B NCC Ltd 69.55 67 78 70.1 0.8 Hold 2-3 days 69.55 0.5
8-Sep-14 B Lovable 399.9 390 440 392.7 -1.8 Hold 2-3 days 399.9 -7.2
8-Sep-14 B Siemens 865.55 825 940 895 3.4 Hold 3-5Days 865.55 29.5
5-Sep-14 B Ahmedforge 378, 387 373.0 415.0 404.9 8-Sep-14 5.9 Premature Profit Booked 2-3 days 382.50 22.4
5-Sep-14 B Asian Paints 640.10 620.0 680.0 680.0 8-Sep-14 6.2 Target Achieved 5-10 days 640.10 39.9
5-Sep-14 B DCM Shreeram 220, 230.5 215.0 255.0 238.5 8-Sep-14 5.9 Premature Profit Booked 2-3 days 225.25 2.7
5-Sep-14 B Indoco 253, 263 249.0 285.0 273.7 5-Sep-14 6.1 Premature Profit Booked 2-3 days 258.00 15.7
5-Sep-14 B Hinduja Ven 337.00 326.0 367.0 342.9 1.8 Hold 2-3 days 337.00 5.9
5-Sep-14 B Gravita 82.10 78.0 90.0 80.3 -2.2 Hold 2-3 days 82.10 -1.8
4-Sep-14 B R S Software 535.60 521.0 575.0 546.5 5-Sep-14 2.0 Premature Profit Booked 2-3 days 535.60 10.9
4-Sep-14 B Dishman 166.80 162.0 176.0 162.0 5-Sep-14 -2.8 Stop Loss Triggered 3-7 days 166.75 -4.8
4-Sep-14 S Tata Steel Sept Fut 519.10 532.0 500.0 513.7 4-Sep-14 1.1 Premature Profit Booked 2-3Days 519.35 5.7
4-Sep-14 B Wabco India 3,810.00 3700.0 4200.0 3931.6 4-Sep-14 3.2 Premature Profit Booked 3-7 days 3,810.0 121.6
3-Sep-14 B Indiabulls Housing Fin. 395.70 380.5 419.0 394.6 4-Sep-14 -0.3 Premature Exit 3-5Days 395.70 -1.1
3-Sep-14 B Balkrishna Ind 755.00 712.0 900.0 779.0 3.2 hold 5-10 days 755.00 24.0
3-Sep-14 B M&M Financial 286.85 275.0 325.0 280.9 -2.1 hold 5-10 days 286.85 -6.0
2-Sep-14 B JK Tyre 298.00 283.0 330.0 290.3 4-Sep-14 -2.6 Premature Exit 1-5 days 298.00 -7.8
2-Sep-14 B TBZ 156.50 152.0 172.0 155.7 4-Sep-14 -0.3 Premature Exit 3-5Days 156.15 -0.5
2-Sep-14 B Patel Engg. 104.70 99.8 115.0 99.8 4-Sep-14 -4.7 Stoploss Trigg. 3-5Days 104.70 -4.9
2-Sep-14 B CCL Prodcuts 93.95 89.9 102.0 91.4 4-Sep-14 -2.7 Exit 2-3 days 93.95 -2.6
2-Sep-14 B Polyplex 264.00 254.0 290.0 259.0 4-Sep-14 -1.9 Exit 2-3 days 264.00 -5.0
2-Sep-14 B Tata Sponge 868.70 848.0 925.0 848.0 4-Sep-14 -2.4 Stop Loss Triggered 2-3 days 868.70 -20.7
2-Sep-14 B IVRCL Infra 19.25 18.1 25.0 19.7 3-Sep-14 2.3 Premature Profit Booked 5-10 days 19.25 0.4
2-Sep-14 B GT offshore 102.90 98.0 112.5 106.4 2-Sep-14 3.4 Premature Profit Booked 2-3 days 102.90 3.4
1-Sep-14 B Banco India 141.85 134 155 144.8 3-Sep-14 2.1 Premature Profit Booked 2-3 days 141.85 3.0
1-Sep-14 B TATA Power Fut. 89.00 86.5 94.0 90.3 3-Sep-14 1.4 Premature Profit Booked 3-7 days 89.00 1.3
1-Sep-14 B Petronet 186.15 181 197 192.5 2-Sep-14 3.4 Premature Profit Booked 1-5 days 186.15 6.3
1-Sep-14 B LIC Housing 309 298 330 316.4 2-Sep-14 2.4 Premature Profit Booked 1-5 days 309 7.4
1-Sep-14 B SCI 61.35 59 66 63.15 2-Sep-14 2.9 Premature Profit Booked 2-3 days 61.35 1.8
1-Sep-14 S Sun Pharma Future 852 866 800 866 2-Sep-14 -1.6 Stop Loss Triggered 2-3 days 852 -14.0
1-Sep-14 B Autoline Ind. 86.20 82.9 93.5 90.2 2-Sep-14 4.6 Premature Profit Booked 2-3Days 86.20 4.0
1-Sep-14 B Seamec Ltd 146.5 139 170 152.8 1-Sep-14 4.3 Premature Profit Booked 2-3 days 146.5 6.3
1-Sep-14 B CCL Prodcuts 91.8 87.5 100 94.5 1-Sep-14 2.9 Premature Profit Booked 2-3 days 91.8 2.7
28-Aug-14 B MMTC 76.25 73.0 83.0 73.4 4-Sep-14 -3.7 Premature Exit 1-5 days 76.25 -2.8
28-Aug-14 B Tata Comm. 371.50 359.5 392.0 379.9 2-Sep-14 2.3 Premature Profit Booked 2-3Days 371.50 8.4

5. 27-Aug-14 B JM Financial 44.65 42.9 51.0 42.9 3-Sep-14 -3.9 Stop Loss Triggered 2-3 days 44.65 -1.8
26-Aug-14 S L&T Fut 1505.35 1550 1400 1550 1-Sep-14 -2.9 Stop Loss Triggered 1-5 days 1505.35 -44.7
25-Aug-14 B Wipro 560.90 539.5 599.0 565.0 1-Sep-14 0.7 Exit/Book Profit 5-7 Days 560.90 4.1
25-Aug-14 S ICICI Bank Sep Fut. 1,530.00 1570.0 1480.0 1570.0 1-Sep-14 -2.5 Stop Loss Triggered 3-7 Days 1,530.0 -40.0
10-Jul-14 B Jain Irrigation Fut 118.3 112 130 114.9 -2.7 Hold 7-Days 118.1 -3.2
8 Jul 14 B TV 18 Broadcast 32 30 36 31.2 -2.5 Hold 7-Days 32 -0.8
Update of Positional Calls:
Retail Research
5
Date B/S Positional Call Entry at Sloss Targets
Exit
Price /
CMP Exit Date
%
G/L Comments
Time
Horizon
Avg.
Entry
Abs.
Gain/Loss
8-Sep-14 B GIPCL 86 - 83 80.0 100.0 86.1 2.0 Hold 3-14 days 84.35 1.7
8-Sep-14 B BF Utilities 645.95 600 750 637 -1.4 hold 5-10 days 645.95 -9.0
8-Sep-14 B All Cargo 256 240 320 250.7 -2.1 hold 5-10 days 256 -5.3
8-Sep-14 B KPIT 159.8 150.5 182 159 -0.5 Hold 1 Week 159.8 -0.8
5-Sep-14 B Wockhardt Pharma 744.90 690.0 860.0 819.0 8-Sep-14 9.9 Premature Profit Booked 5-10 days 744.90 74.1
5-Sep-14 S Rel Infra Sep Fut. 701.00 735.0 630.0 684.2 2.5 Hold 3-14 days 701.00 16.9
4-Sep-14 B Coromandalum 280, 289.85 270.0 331.0 294.0 3.2 Hold 5-7 days 284.93 9.1
4-Sep-14 B INDSWFTLAB 36 - 34.6 33.0 42.0 36.4 3.0 Hold 3-14 days 35.30 1.1
3-Sep-14 B Bharat Gear 71.5 - 68 64.0 85.0 73.5 5-Sep-14 5.4 Premature Profit Booked 3-10 days 69.75 3.8
3-Sep-14 B FSL 39.75 37.0 46.0 39.9 0.4 hold 5-10 days 39.75 0.1
2-Sep-14 B Hind Oil Exploration 53.90 49.5 65.0 57.2 8-Sep-14 6.1 Premature Profit Booked 5-10 days 53.90 3.3
2-Sep-14 B Jain Irrigation 94.50 89.3 105.0 89.3 5-Sep-14 -5.5 Stop Loss Triggered 1 Week 94.50 -5.2
2-Sep-14 B GE Shipping 393.00 365.0 500.0 398.0 1.3 hold 40-75 days 393.00 5.0
2-Sep-14 B Axis bank 410.40 390.0 450.0 420.5 2.5 hold 5-10 days 410.40 10.1
2-Sep-14 B JAGRAN 123.50 118.0 138.0 122.9 -0.3 Hold 3-10 days 123.25 -0.3
1-Sep-14 B SPARC 205.80 195.0 225.0 217.9 8-Sep-14 5.9 Premature Profit Booked 3-10 days 205.80 12.1
28-Aug-14 B GMDC 134, 142.35 129.0 180.0 140.0 1.3 Hold 5-7 days 138.18 1.8
27-Aug-14 B IBReal 70.00 67.0 77.0 73.0 2-Sep-14 4.3 Premature Profit Booked 1 Week 70.00 3.0
25-Aug-14 B HCC 39.30 36.0 46.0 42.1 3-Sep-14 7.1 Premature Profit Booked 5-10 days 39.30 2.8
25-Aug-14 B USHER Agro 43.5 - 41.5 40.0 55.0 45.2 3.9 Hold 3-10 days 43.50 1.7
22-Aug-14 B Ktk Bank 129.50 122.5 145.0 132.9 5-Sep-14 2.6 Premature Profit Booked 5-10 days 129.50 3.4
18 Aug 14 B MRF 24070.00 23200.0 26000.0 24871.7 1-Sep-14 3.3 Premature Profit Booked 5-10 days 24070.0 801.7
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