ITC has shut its cigarette factories again to comply with new regulations requiring pictorial health warnings covering 85% of packaging space, up from 40% previously. This is impacting supplies in the market. The stock is expected to be weak in the near term based on technical indicators. Cairn India is not allowed to export excess crude from its fields in Rajasthan until India achieves energy self-sufficiency, according to the central government. The stock is recommended as a sell based on technical factors. US stocks closed mixed as consumer discretionary shares declined on weak sales reports, while investors await the upcoming jobs report for signals on interest rates. Indian markets are expected to open lower tracking losses in Asia and ahead of the US

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Global View
India Update
Today’s Event/ Stock in News
ITC Ltd said in a regulatory filing on Thursday that it has shut its cigarette factories, again, to comply with new norms on pictorial
health warnings on packs. The announcement comes in the wake of the Supreme Court refusing to stay a government order
mandating introduction of bigger pictorial warnings covering at least 85% of the surface area of packs, up from 40%. ITC said in a
notice to stock exchanges that it shut its factories on 4 May, and that production will remain suspended “until the company is in a
position to comply with the interim requirements”. There is no clarity immediately on how long ITC’s factories will remain shut,
and how it may impact supplies in the market.
Technical Outlook : On daily chart, stock has been facing strong resistance on upper side at 335 level, which indicates for
weakness that might hit the stock in coming trading session. Moreover, stock has given close below its 50 day moving average
which is placed at 319.45 level, which shows that near to short term trend is down. A momentum indicator RSI reading is at 45.65
level with negative crossover, which point out for negative breath in the stock. So for trading perspective, one could Sell in the
range of 317-319 for the Target of 310 with the SL of 322.50.
ITC
CAIRN
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Morning Tea
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Sell in the range of 136-137.5 for the Target of 133 with the SL of 139
Sell in the range of 317-319 for the Target of 310 with the SL of 322.5
The government today told the Delhi High Court that Cairn India cannot be permitted to export excess crude from its Rajasthan
oil field, till India attains “self-sufficiency”. “The stand of the central government is unequivocal and unambiguous that as a
national policy, export of crude oil is not permitted till India attains self-sufficiency,” the Centre told a bench of Justice
Manmohan.
Technical Outlook : On daily chart, stock has formed doji candlestick which is an indecisive in nature and doesn’t indicate any
clear direction for next trading session. However, stock formed bearish harami candlestick on upper level, which is a bearish
reversal indication. Apart from this, stock has given close below its 50 day moving average which is placed at 143.50 level, which
shows that near to short term trend is down. A momentum indicator RSI reading is at 38.25 level with negative crossover, which
point out for negative breath in the stock. So for trading perspective, one could Sell in the range of 136-137.50 for the Target of
133 with the SL of 139.
US stocks gave up early gains to end flat on Thursday as consumer discretionary shares fell and investors showed caution ahead
of the April jobs report. L Brands, which fell 12 percent to USD 70.53 after posting lower-than-expected monthly comparable
sales, led declines in discretionary shares along with Amazon, down 1.8 percent at USD 659.09. The S&P retail index was down
1.5 percent while the S&P consumer discretionary index fell 0.6 percent. Data on Thursday showed the number of Americans
filing for unemployment benefits rose more than expected last week, posting the biggest jump in more than a year. Investors
anxiously awaiting Friday's US jobs data for April will comb through the report for any signs of how the labor market could
influence the pace of rate hikes.
Indian markets are expected to open in the red Friday, tracking losses in Asian markets and ahead of the key US jobs data. In
Singapore, the SGX Nifty was trading 0.6 percent, or 43.5 points, lower to 7,719. In key markets and asset classes, Wall Street
closed mixed overnight, key Asian markets such as Nikkei, Shanghai and Hong Kong were off 0.2 percent to 1.2 percent, the US
dollar rose, crude gained while gold slipped marginally. Locally, bank shares will likely be in focus after the Lok Sabha passed the
Bankruptcy Bill and after the Reserve Bank of India published draft guidelines that would pave the way for on-tap bank licensing.
Analysts said the two developments (the bill is yet to pass muster with Rajya Sabha) will boost banks' recovery process and create
a new generation of lenders.

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Bulk Deal
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Morning Tea
06th May 2016
Security in Ban
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Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 5/5/2016 533282 GRAVITA ALBULA INVESTMENT FUND LTD S 383795 24.50
2 5/5/2016 532682 ABGSHIP ECL FINANCE LIMITED S 324309 39.72
3 5/5/2016 526735 EXCAST VIRBHADRASINH JADEJA S 298600 5.09
4 5/5/2016 526735 EXCAST VIRBHADRASINH JADEJA B 191900 5.07
5 5/5/2016 533164 TEXMOPIPES BP COMTRADE PVT LTD B 130017 35.30
6 5/5/2016 539786 DUNE KUNAL J PARMAR B 99000 20.80
7 5/5/2016 533164 TEXMOPIPES BP COMTRADE PVT LTD S 97564 35.18
8 5/5/2016 539864 GHUSHINE CHOICE EQUITY BROKING PRIVATE LIMITED B 50000 8.33
9 5/5/2016 512175 VAMA ATLURI SHIVA RAMA KRISHNA HANUMAIAH PR S 50000 25.00
10 5/5/2016 512175 VAMA GRANDEUR PRODUCTS LIMITED B 50000 25.00
Corporate Action:
Linde India Limited; Annual General Meeting/ Dividend - Re 0.75/- Per Share (Book Closure Dates
Revised)
Result Calendar:
7TEC, AARTIIND, AMRUTANJAN, APTECHT, AYMSYNTEX, BATLIBOI, BHAGIL, BIRLACORPN,
BIRLAMONEY, CHOWGULSTM, CLARIS, ECSTSTL, ELNET, EQUITAS, EVEREADY, FACORSTE,
GEOMETRIC, GREAVESCOT, HIKAL, IBVENTURES, IBWSL, INOXWIND, JKPAPER, JSWHL, KEC,
KENNAMET, MANGCHEFER, MERCURYLAB, NAKODA, NIITTECH, NITTAGELA, OMAXAUTO,
ORIENTPPR, PFIZER, PRIMEURB, RAIN, RELCAPITAL, ROSEI, SHEMAROO, SIEMENS, SIMPLXMIL,
SIMPLXPAP, SPARC, STOREONE, TITAN, WELINV, WESTLIFE, WOCKPHARMA & ZNIVITRD.
Corporate Action / Result Calendar
IBREALEST

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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
06th May 2016
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Kapil Shah
Digitally signed by Kapil Shah
DN: cn=Kapil Shah, o=Choice Equity Broking Pvt
Ttd., ou=Research Department,
email=kapil.shah@choiceindia.com, c=IN
Date: 2016.05.06 08:39:00 +05'30'