- Kotak Mahindra Bank expects 20% credit growth during the current fiscal year, up from 14-15% last year. A senior executive said corporate credit off-take has been slow but is expected to rise in the second half as interest rates fall and the economy improves. - The document provides technical analysis on Kotak Mahindra Bank and IDBI Bank stocks, recommending a buy on Kotak Bank and sell on IDBI Bank based on technical indicators. - The government is working on selling its stake in IDBI Bank and a decision may be taken in the current fiscal year, according to IDBI Bank's managing director.

1. SEBI Certified – Research Analyst www.choiceindia.com
Global View
India Update
Today’s Event/ Stock in News
Private-sector lender, Kotak Mahindra Bank expects about 20 per cent growth in credit during the current fiscal, a senior
executive said. "This year we are aiming for 20 per cent growth. The credit off take (corporate) in recent past has been slow. But
as you see interest rates keep falling and you see some green shoots coming out in economy," Bank's Senior Executive Vice
President Virat Diwanji told media. "It is clearly a sign of some positive development in the external environment. And as a result
in the second half of the year we expect the demand from the corporate India to be really on the rise," Diwanji added. Last year,
the bank witnessed 14-15 per cent growth in the overall credit off take.
Technical Outlook : On daily chart, stock has been trading in a higher top higher bottom formation since last three months, and it
seems that stock is likely to continue its ongoing movement. Moreover, stock has given breakout of its all-time high which is
placed at 745 level with above average volume, which shows that further robust upside movement can be seen in next few
trading session. A momentum indicator RSI reading is at 71.05 level with positive crossover, which point out for positive breath in
the stock. So for trading perspective, one could Buy in the range of 760-765 for Target of 781 with SL of 752.
KOTAKBANK
IDBI
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Morning Tea
07th June 2016
Sell in the range of 64-65.5 for the Target of 62.50 with SL of 66.25
Buy in the range of 760-765 for the Target of 781 with SL of 752
Government is working on the stake sale of IDBI Bank and a decision in this regard could be taken during the current fiscal, its
Managing Director Kishor Kharat said on June 6. "There are many players. I have met almost 56 foreign players during QIP, 22
domestic players. There are no time lines drawn but if you look at the record of the government, whatever they say in previous
Budget, before going to next fiscal, they complete. So, from that you can draw some timeline," he said.
Technical Outlook : On daily chart, stock has been trading in a lower top lower bottom formation since last two months, and it
seems that stock is likely to continue its ongoing move. Moreover, stock has given close below its 50 day moving average which is
placed at 68.05 level, which shows that near to medium term trend is down. A momentum indicator RSI reading is at 44.40 level
with positive crossover, which point out for positive breath in the stock. So for trading perspective, one could Sell in the range of
64-65.50 for Target of 62.50 with SL of 66.25.
The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the
economy but gave little sense of when a rate hike may be coming. Energy shares also boosted the market after oil ended higher
for a third straight session. The S&P energy index rose 2 percent, leading gains in the benchmark S&P 500. Yellen's remarks, which
were likely her last public comments before a policy meeting next week, followed Friday's dismal monthly jobs report, which
raised concerns over the ability of the economy to absorb a rate hike as early as June. Yellen called the jobs report
"disappointing," but said "one should not attach too much significance to a single report."
After a tepid trading yesterday, the market will be keenly waiting for Reserve Bank of India’s moves on Tuesday. The central bank
is set to announce second bi-monthly policy review today and economists are not expecting Governor Raghuram Rajan to make
any change in key interest rates. Bank stocks will be in focus. SGX Nifty indicates a positive open for Indian market. On Monday,
the 30-share BSE Sensex declined 65.58 points to 26777.45 and the 50-share NSE Nifty fell 19.75 points to 8201.05. The market
breadth was negative as about 1454 shares declined against 1177 advancing shares on Bombay Stock Exchange. In morning
trade, Asia stocks traded mixed with the Japanese benchmark index giving up initial gains as the yen nudged higher against the
dollar.

2. SEBI Certified – Research Analyst www.choiceindia.com
Bulk Deal
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
07th June 2016
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 3/6/2016 539311 NFIL ASHISHBHAI JITENDRABHAI JOSHI B 229175 11.24
2 3/6/2016 531574 VASINFRA SUNDEEP RAJPAL CHHABRA S 197200 15.50
3 3/6/2016 538772 M3GLOBAL AMI CHINTANKUMAR SHAH S 184854 2.75
4 3/6/2016 532767 GAYAPROJ SATPAL KHATTAR B 181882 577.50
5 3/6/2016 531574 VASINFRA MADHAV JAYESH VALIA B 128000 15.46
6 3/6/2016 531574 VASINFRA HIRAL MADHAV VALIA B 128000 15.50
7 3/6/2016 539311 NFIL SAJJAN DEVI ANJANA S 120000 11.04
8 3/6/2016 524622 ISTRNETWK DINESH SHAH S 119947 23.79
9 3/6/2016 524622 ISTRNETWK DINESH SHAH B 119947 23.43
10 3/6/2016 534680 SRGHFL ARYAMAN BROKING LIMITED S 116465 57.00
Corporate Action:
R Systems International Limited; Annual General Meeting
Result Calendar:
Corporate Action / Result Calendar
RCOM

3. SEBI Certified – Research Analyst www.choiceindia.com
Contact Us
www.choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Disclaimer
This is solely for information of clients of Choice Broking 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 Broking 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 Broking 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 Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking 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.
SEBI Certified – Research Analyst www.choiceindia.com
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
07th June 2016
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website