MARKET Diary

Institutional Services
15-Mar-17

Nifty Intraday Chart Market

KEY LEVELS Market Value % Change
Morning Traded Market
Support 1 : 8975
Support 2 : 8934 SGX NIFTY 9,118.00 0.19%

Resistance 1: 9140
NIKKIE 19549 -0.31%
HANG SENG 23,817.00 -0.01%
Yesterday Closing Market
Sensex 29,442.63 1.71%
Nifty 9,087.00 1.71%
Market Outlook DOW 20,624.00 0.02%
After giving a gap up opening, the benchmark index NASDAQ 5,856.82 -0.32%
Nifty touched a life time high of 9120.60 yesterday.
At the end of the day the index closed at 9087. It CAC 4,974.26 -0.51%
Event Today had a net gain of 1.71% over the previous days DAX 11,988.79 -0.01%
close. The midcap and small cap indices under-
performed the benchmark index and closed the day
FTSE 7,357.85 -0.13%
Board Meetings with a net gain of 1.1%-1.5%. EW ALL SHARE 16,354.00 1.33%
BEARDSELL On the sectoral front, FMCG, Banking, Realty and % Change in 1 day
Pharmaceuticals stocks were on the buyers radar Commodity Price ( Yesterday Closing )
while the Metal index closed in red. The breadth of
Bonus issue the market was positive and about two shares Commodity/Currencies Value % Change
KPEL ( Ratio 1.501 ) advanced for every share declined at NSE. GOLD 28076.00 -0.62%
( Exdate : 15.3.2017) Countrys Wholesale Price Index (WPI) shot up to SILVER 40083.00 -0.83%
VGUARD : ( Ratio 2:5) 39-month high at 6.55% in February as against
CRUDEOIL 51.56 -0.19%
5.25% in January. The rise in WIP is mainly due to
( Exdate : 15.3.2017) NATURALGAS 194.00 -3.96%
the rebound of food and fuel items. The food prices
witnessed a sharp rise by 2.69% in February as DOLLAR/RS. 65.95 -1.14%
compared to a contraction by 0.56% in January. We EURO/RS. 70.22 -0.90%
believe the food inflation has already bottomed -0.78%
POUND/RS. 80.13
out. The fuel basket surged by 21.02% in the month
% Change in 1 day
of February from 18.14% in the previous month.
Post breaking its box range top at 8996, Nifty Institutional Turnover
traded close to its range breakout target of 9140. FII
Though in a supposedly euphoric day for market, Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
advance-decline ratio was not very encouraging. A 14-Mar-17 10205 6117 487.61
strong follow up rally in mid and small cap stocks in
next 1-2 days will be required for Nifty to make its Mar-17 51281 39782 11499
new trading range of 9000-9200. Nifty saw sharp 2017 234185 215306 18880
unwinding of hedges - OI for Put options got
reduced by about 30 lakhs while future OI went up
by 20 lakhs. Technically Nifty has made gap DII
between 8992-9060. Next move for Nifty will Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
depend on how fund flow impacts emerging
14-Mar-17 3208 4728 (1520)
markets post FOMC meet outcome late evening
today. Mar-17 22292 27672 (5380)
2017 133204 133818 (614)

Quote of the Day : ""Learn every day, but especially from the experiences of others. It's cheaper!" John
Bogle
Narnolia Securities Ltd
IEA Snapshot

CDSL SUBSCRIBE 15th Mar 2017

CDSL and NSDL are the only two share depositories in India. BSE currently owns 54.2% stake in CDSL and through the offer is selling its 30%
stake to cut down its holding to 24%. CDSL is being offered at P/b of 3.1times FY17E BV. The company provides sustainable Roe visibility of
~17% for long term. We recommend SUBSCRIBE owing to following counts:
>>Niche business segment
>>Asset light business model
>>High operating leverage
>> Sustainable return ratios visibility
>>Attractive dividend yield (~2.7%)

SUNPHARMA "BUY" 15th Mar 2017

Synergies from the Ranbaxy acquisitions are gaining momentum and the company is on track to achieve the targeted benefits. Lifting of
import ban from Mohali facility will improve US revenue. Sunpharma has further strengthened the branded ophthalmic pipeline through
the acquisition of Ocular Technologies. Though the company has maintained its guidance of 8-10% sales growth for FY17E, we are
optimistic for stronger and healthy growth in longer term. Next big trigger for the company can be Halol plant resolution.Considering
above arguments we recommend BUY rating on this stock with the target price of Rs. 795. We are analysing the financial viewpoint of
mohali plant and will update as and more clarity willl emerge.
*For details, refer to our daily report- India Equity Analytics

Top News
IndusInd Bank said it has entered into an agreement with
Infrastructure Leasing and Financial Services (IL&FS) to acquire
100 percent stake of the latter's securities services subsidiary.
IndusInd will acquire 100 percent stake in IL&FS Securities
Services (ISSL)
State Bank of India Mgt Guideline : The pace of formation of
bad loans in the banking system will largely depend on how the
economy fares . Growth in bad loans has eased marginally in the
last couple of quarters, but analysts say that also it has to do
with do with the drop in growth of loans. SBIs gross non-
performing assets (NPAs) rose marginally to Rs 1.08 lakh crore
(7.23 percent of total loans) at the end of the December quarter
from Rs 1.06 lakh crore in the September quarter.
NBCC has won a Rs 250-crore order from the Mauritius
government to build the new Supreme Court building. The
company has been appointed as the project management
consultant. company said the approximate value of the project
is USD 33 million.
Sun Pharma was informed by USFDA, that it will lift the import
alert imposed on the Mohali manufacturing facility and remove
the facility from the official action initiated (OAI) status. This
proposed action will clear the path for Sun Pharma to supply
approved products from the Mohali facility to the US market,
subject to normal US FDA regulatory requirements
Feb WPI inflation hits 39-month high at 6.5% . The Wholesale
Price Index-based inflation, reflecting the annual rate of price
rise, was at 5.25 percent in January.
SpiceJet will shortly foray into Indias highly competitive retail space
with plans to set up a string of physical stores, online e-tail gateways,
and in flight merchandise, selling a range of consumer goods from
fashion products, gadgets and electronic items to, eventually, food.
State Bank of India, has announced a one-time settlement (OTS)
scheme worth Rs 6,000 crore for tractor loans. Bank was willing to take
a haircut of 40 percent on outstanding tractor loans as of September 30,
2016.
New India Assurance has bagged a Rs 500-crore combined cover from
Reliance Industries for its onshore and offshore assets for the next
financial year
Tata Power Solar has expanded the capacity of its cell and module
manufacturing facility in Bengaluru. The two-stage expansion doubled
the company's module capacity to 400 MW from 200 MW, and
increased its cell manufacturing capacity by 65 per cent from 180 MW
to 300 MW
Tata Motors will send its trucks to premier racing events abroad. It
aims to participate in at least one of the races held in Europe and US.
The company has developed a 1000bhp truck along with engine
developer Cummins. This truck is of the same standard as those that
participate in international races held in UK, France, US and other
countries.
Bharti Airtel, announced the launch of its 4G services in Jammu &
Kashmir, completing a national rollout. Airtel 4G service is now available
in all 22 telecom circles of the country.

Narnolia Securities Ltd

 F&O OPEN INTEREST ( Number of Contracts )
Individual Foreign Institutions

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers NSE Sectoral Indices Performance

TRADING IDEAS

Scrip Reco Initiation Price Target 1 Target 2 Stop Loss Rational

After getting a strong support near Rs 1700,
the stock has given a sharp pullback rally
AJANTPHARM Buy 1750 1798 1837 1699
yesterday. The rally is likely to continue in the
short term.

Long
The stock has made a negative divergence
SUNTV March (1 Lot=
7 12 18 3 both in RSI and Stochastic. Some fresh sell-off
700 PE 2000) is expected from the current level.

Narnolia Securities Ltd

 Economic Calendar
Monday Tuesday Wednesday Thursday Friday
Country
14th Mar 17 15th Mar 17 16th Mar 17 17th Mar 17 18th Mar 17
CPI m/m, Core CPI m/m, Core
Retail Sales m/m, Retail Sales
Natural Gas Storage,
m/m, Empire State
PPI m/m, Core PPI m/m, Building Permits, Philly Fed Capacity Utilization Rate,
Manufacturing Index, Crude
NAHB Housing Market Manufacturing Index, Industrial Production m/m,
US Index, TIC Long-Term
Oil Inventories, FOMC
Unemployment Claims, Housing Prelim UoM Consumer
Economic Projections, FOMC
Purchases. Starts, Natural Gas Storage. Sentiment, Prelim UoM
Statement, Federal Funds
Inflation Expectations.
Rate, FOMC Press Conference.

Final CPI y/y, Final Core CPI y/y,

French Final CPI m/m,
Average Earnings Index 3m/y, German 10-y Bond Auction, MPC
Italian Trade Balance,
Claimant Count Change, Official Bank Rate Votes, German WPI m/m, Trade CBI Industrial Order
German ZEW Economic
UK/EURO ZONE Sentiment, Industrial
Unemployment Rate, Monetary Policy Summary, Balance, Consumer Expectations, German
Employment Change q/q, BOE Official Bank Rate, Asset Confidence. PPI m/m.
Production m/m, ZEW
Quarterly Bulletin. Purchase Facility, MPC Asset
Economic Sentiment.
Purchase Facility Votes.

INDIA WPI Data

Narnolia Securities Ltd

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em ail: narnolia@narnolia.com ,
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