Mark ket Outlook k

MA ARKET SNA APSHOT

23nd Jan1 14

Market consolidated c its s gains as Nifty y made a stead dy progress and d closed at arou und 5 weeks high. h Metals were w firm throu ughout the sess sion, Tata Steel l gaining over 2% 2 while dece ent gains were seen in Hindal lco and SSLT. Banks re eacted negative ely to Urijit Pa atel paper in ea arly trades but t recovered late er. ICICI Bank k led the banks s recovery whi ile PSU ban nks remained under u some stre ess. Pharma stocks s were the e flavor of the session, Lupin n and Sun Phar rma being the top t gainers. DrR Reddy hit a new high h while Auro and a Biocon con ntinued to attra act new buyers. . Dabur re esults were be elow market ex xpectations an nd stock plumm meted around 4%. M&M Fi inancial was another a top los ser while L& &T remained steady s ahead of its results tha at were declare ed after market t hours. Q3 nu umbers for HDF FC were slight tly ahead of f expectations but b the stock

NIF FTY & MARK KET STRATE EGY Nif fty has been making m steady progress and has h now closed at highest le evel since 12th h December. Banks B have be een putting som me pre essure on the ov verall markets but as observe ed yesterday a few like HDFC C Bank and IC CICI Bank have e begun to mak ke some positive moves. Sustained d positive bias in banks could take Nifty higher h towards the current pe eak seen in ear rly December. IT continues to lead d the rally and d now even Metals have resu umed respectiv ve upmoves af fter a brief cor rrection. Tata Steel S looks good for more an nd SSL LT too could seek s higher lev vels. Amongst IT, Infy and Wipro W should see s further ups side. Overall, market m tone has assumed slig ght pos sitive bias. Nif fty is likely to see fresh mom mentum above 6350 with like elihood of prev vious highs be eing tested aga ain. Support is at 627 75-80 and then n around 6230.
One of the trends we have found O f is that the t fund mana agers who ten nd to perform the t best over t time are the ones o who tend d to spend the least amount t of time debat ting which wa ay the market is heading Don Phillips

Scrip p WIP PRO FUT SUN N PHARMA FUT

Stra ategy BUY ABOVE Rs s.580 BUY ABOVE Rs s.600

Stop Loss 57 72 59 91

Ta arget 58 89/596 61 12/623

Inve estment Horiz zon 2-3 DAYS D 3-5 DAYS D

N NIFTY IN MAKE E OR BREAK ZO ONE; TOUCHES S 6350 THEN CLOSES A BIT LO OWER; BANK NI IFTY ALSO PUS SHING AGAINST T RESISTANCE

The Nifty is coming very close to a breakout. The Index recovered quickly from an early morning selloff and then saw a handsome rally to 6350 before closing in the 6330 6340 area. We have identified this zone as the point of breakout for the Nifty. Bank Nifty saw a breakout and then came back in its trading range. View is bullish in Banking Sector. We should wait for a follow through on upside. This follow through will confirm the range breakout. Private Banking Stocks are outperforming as of now. Look for buying in these stocks. Intermediate and short term trend is up in CNX IT . Prices remained below the resistance level at 10150. The sector is still out performing the Nifty. A breakout from this resistance will give us a buying opportunity in IT Stocks. STEEL Sector is consolidating at its top. Prices have find support and tuned up. This suggests that the steel stock may resume their uptrend. Look for a buying opportunity in TATA STEEL, JINDAL STEEL and SAIL. Scrip
CIPLA GRASIM

LTP
423.60 2585

Description
Buy this stock at current levels. Place your stop just below 418 with a target near 434. Sell this stock at current levels. Place your stop just above 2610 with a target near 2530.

Nifty is at the verge of major breakout. We should look only for buying opportunity in Nifty, Bank Nifty and CNX IT. FII/DII Data Index Futures:- Buy 0.92 Bln Stock Futures:- Buy 3.06 Bln FII:- Buy 2.79 Bln DII:- Sell 0.90 Bln

Key dates to watch Monetary Policy on 28th Jan (11:00 AM). HSBC Markit Manufacturing PMI on 3rd Feb (10:30 AM). HSBC Manufacturing PMI on 3rd Feb (10:30 AM).
Source: BS,ET,FT,Mint

Corporate & Economic News

ONGC Ltd expects to ramp up natural gasproduction up to 2 million metric standard cubic meters per day (mmscd) during the next financial year as two of itseastern offshore wells are set to get into production. Alstom's Indian arm has bagged a contract worth Rs 106 crore from Reliance Industries Limited for supplying equipment for the latter's Jamnagar refinery in Gujarat. LIC in Axis Bank has crossed 10% after it picked up the private lender's shares through open market transactions. Zee Entertainment Enterprises Ltd reported 10.03% increase in consolidated net profit at Rs 213.59 crore for the third quarter. Mahindra Financial Services reported an 18% decline in standalone net profit at Rs 164 crore for the three months to December from Rs 200 crore in the year-ago period. Dabur India reported 15.7% rise in consolidated net profit at Rs 243.6 crore for the third quarter ,backed by strong growth in international business and volume across business verticals. It reported net profit at Rs 210.5 crore in the corresponding quarter previous fiscal year. KPIT Technologies Ltd, a product engineering and IT consulting firm, reported increase of 20.51% in its net profit at Rs 60.80 crore as compared to Rs 50.43 crore last year for the third quarter. The revenue also witnessed a increase of 20.35% at Rs 678 crore as compared to Rs 563.30 crore last quarter. Infrastructure major Larsen and Toubro reported 10.60% rise in standalone net profit at Rs 1,240.70 crore for the third quarter saying that "persisting inflation" and "policy uncertainties" have impacted investment sentiment.

Board Meetings
Company
NRBBEARING ZEEMEDIA BLUESTARCO INFRATEL VAIBHAVGBL CAIRN TRITURBINE PARRYSUGAR L&TFH ESSARPORTS PANCARBON CORPBANK AMARAJABAT THINKSOFT MASTEK ONWARDTEC

Purpose
Results Meeting Updates Results Results Results/Others Results Results Results Results Results Results Dividend Results Results Results Results

Meetings
23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14

Company
DISHTV ORIENTHOT INDIANB IBSEC EDELWEISS PALRED UPL UNIENTER ASTEC MAHSEAMLES VMART GMRINFRA EXCELINDUS BEL DBSTOCKBRO SKSMICRO

Purpose
Results Results Results Results/Dividend Results/Dividend Amalgamation/Merger Results Results Results/Others Results Results/Others Raising of Funds Results Results Results Results

Meetings
23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14

Company
GLENMARK BALAJITELE HILTON ATUL SHAKTIPUMP MAHLIFE DLINKINDIA NIPPOBATRY KOLTEPATIL VATSMUSC KKCL KTKBANK

Purpose
Results Results Results Results Results Results Results Results/Others Results Results Results/Dividend Results

Meetings
24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14

Corporate Actions
Company
Bank of India Dena Bank IDBI Bank KAMAHOLDING-$ Sasken Comm Unichem Lab Aptech Canara Bank Emami-$ SHREYCHEM Torrent Pharma

Purpose
Interim Dividend - Rs.5.00 Interim Dividend - Rs.1.10 Interim Dividend - Rs.0.73 Interim Dividend - Rs.1.50 Special Dividend - Rs.22.50 Interim Dividend - Rs.4.00 Interim Dividend - Rs.2.00 Interim Dividend - Rs.6.50 Interim Dividend - Rs.3.00 BONUS 2:1 Interim Dividend - Rs.5.00

Ex-Date
23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 23-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14 24-Jan-14

Disclaimer; the recommendation made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of act or opinion. Analysts may or may not have trading or investment positions in the securities mentioned herein.

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