MARKET Diary

16-Mar-17

Nifty Intraday Chart Market

KEY LEVELS Market Value % Change
Support 1 : 9060 Morning Traded Market
Support 2 : 8975
SGX NIFTY 9,174.00 0.70%
Resistance 1: 9140 NIKKIE 19508 -0.39%
Resistance 2: 9226
HANG SENG 23,792.00 -0.15%
Yesterday Closing Market
Sensex 29,398.11 -0.15%
Nifty 9,084.80 -0.02%
Market Outlook DOW 20,950.10 0.54%
Indian equities gave a range bound and choppy NASDAQ 5,900.00 0.73%
movement throughout yesterday and after opening
on a flat note, Nifty moved in a narrow band of CAC 4,985.48 0.23%
Event Today 9075-9107. At the end of the day the index closed DAX 12,009.73 0.18%
with a marginal loss of 0.02%. The broader market
was in favor of bulls as the midcap and small cap
FTSE 7,368.64 0.15%
Board Meetings indices outshined the benchmark index and closed EW ALL SHARE 16,396.01 0.25%
VJTFEDU the day after gaining 0.8%-0.9%. % Change in 1 day
On the sectoral front, some buying interest was Commodity Price ( Yesterday Closing )
witnessed in Auto, Media and PSU banking stocks
Bonus issue while the Information Technology stocks forced the Commodity/Currencies Value % Change
KUSHAL ( Ratio 1:1) market to close in red. The breadth of the market GOLD 27985.00 -0.32%
( Exdate : 16.3.2017) was positive with more advances than declines. SILVER 40045.00 -0.09%
The government yesterday launched a new scheme-
CRUDEOIL 52.12 0.25%
Trade Infrastructure for Export Scheme (TIES) for
Stock Split developing exports linked infrastructure in states
NATURALGAS 195.50 0.72%
BEL : ( Ratio 10:1) with a view to promote outbound shipments. The DOLLAR/RS. 65.81 -0.22%
Interim Dividend idea of this scheme is to address those gaps in EURO/RS. 70.02 -0.29%
AMBUJACEM : Rs 1.2 /- infrastructure which are not addressed by any 0.26%
POUND/RS. 80.33
other scheme.
ACC : Rs 6/- % Change in 1 day
The investments in domestic capital markets
CADILAHC : Rs 6/- Institutional Turnover
through participatory notes (P-notes) rose to Rs
HEROMOTOCO : Rs 55/- 1.75 lakh crores at the end of January 2017 as FII
NMDC : Rs 4.15/- against Rs 1.57 lakh crores in the preceding month. Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
( Exdate : 16.3.2017) Yesterday saw mid cap and small cap out- 15-Mar-17 5958 4817 1141
performing Nifty and confirming that Nifty now will
Amalgamation be settling in its new range 8900-9200. Continued Mar-17 32150 25638 6512
MYSOREBANK cautious and gradual approach by US FED in a 2017 215054 201162 13892
scenario where ECB and BOJ continues with its QE
SBBJ ensures that there is no immediate threat to global
SBT liquidity flow. Two consecutive doji post break out DII
from box range do suggest some caution at current Investor Buy(Cr.) Sale(Cr.) Net(Cr.)
levels but till low point of the gap (made on
15-Mar-17 3197 3071 127
10th/14th March) at 8975 is not broken, it remains
buy on decline market. Mar-17 13932 17789 (3857)
2017 124844 123935 909

Quote of the Day : "In the stock market the more elaborate and abstruse the mathematics the more
uncertain and speculative are the conclusions we draw there from." Benjamin Graham

Narnolia Securities Ltd

IEA Snapshot

CANBK "ACCUMULATE" 16th Mar 2017

We expect the trend to continue as management is hopeful of significant recoveries and up-gradation in coming 1 or 2 quarters. However
given the bulky nature of book, improvement in economic environment remains the key. We expect the credit cost to moderate marginally
to 1.4% in FY18 as ageing related provisions will remain high given the spike in NPA in last 5 quarters. We expect the loan growth to remain
muted at 8% in FY18 due to sluggish corporate loan demand. However recognition of reversal of interest income in 3Q on account of S4A
and SDR will largely prevent further significant fall in yield and any further fall will be subject to MCLR. So we expect NIM to improve from
current levels on the back of decline in cost of fund and expect NII to grow at a CAGR of 30% over next 2 years due to lower base. We also
believe the trading gains will be muted in current quarter given the sharp spike in Bond Yield. We are initiating coverage on this stock and
recommend 'ACCUMULATE' with target price of Rs 325.

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
State Bank of India has received Board approval to raise Rs
15,000 crore to shore up its equity capital in the bank for next
year. The Central Board of the Bank at its meeting held on
15.03.2017 has accorded its approval for raising of equity
capital up to Rs 15,000 crore during FY 2017-18 by way of FPO /
Rights Issue / ESPS / ESOS/ QIP / ADR / GDR and any other mode
or a combination of these
The ICICI Bank-led consortium of lenders has initiated the
process to find a buyer for the debt-ridden defence firm ABG
Shipyard to change its management. After Strategic Debt
Restructuring (SDR) norms were invoked in October last year, a
consortium of 22-lenders took control of 51 percent stake in the
company which has loan dues worth Rs 16,400 crore.
BHEL has commenced commercial operation of its first 800
MW unit - highest-rating coal-based supercritical thermal power
plant at Yeramarus thermal power station of Raichur Power
Corporation, in Raichur district of Karnataka. Karnataka Power
Corporation (KPCL) and BHEL are main equity partners of RPCL.
NTPC is weighing the option of snapping power supplies to
BSES Yamuna Power Ltd (BYPL), which distributes electricity in
Delhi, for delay in payment of its dues. The continued non-
payments by Delhi discoms would make it very difficult for NTPC
to keep maintaining its reliable supplies in the ensuing peak
summer season where the demand of Delhi is supposed peak to
at 6600 MW as per estimates
HCL Technologies board has said that it will consider a share
buyback proposal on March 20.
HDFC Bank has launched a Digital Loan against Securities (LAS)
product to avail an instant overdraft facility in just 3 minutes. In a tie-up
with the soon-to-be payments bank National Securities Depository
Limited (NSDL), HDFC bank claims to be the first Bank in India to
completely automate the entire process of creating an overdraft facility
in a separate current account for loan against shares
The Cabinet approved sale of state-owned Indian Oil Corp's (IOC) 24
percent stake in Lubrizol India Pvt Ltd to Lubrizol Corporation, USA for
an undisclosed sum. The sale will enable IOC to have long term
association with its joint venture partner and ... Lubrizol India Pvt Ltd
(LIPL) to have access to the latest global additive technologies
developed by Lubrizol Corporation, USA.
Wipro announced its partnership with Harte Hanks to offer marketing
technology services. As part of the multi-year engagement, Wipro will
upgrade Harte Hanks data analytics and applications platform, create a
scalable operating model and simplify IT related processes for the
company. The two companies will jointly go-to-market with marketing
technology services aimed at the needs of Chief Marketing Officers
Repco Home Finance has been announced by the government for
housing in the middle income group. For next year we are expecting
growth of about 25 percent. Company is expecting the affordable
housing scheme - that the new government has announced - to be
rolled over for the subsequent years also.

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

The stock has given a reversal from its current

AMARAJABAT Buy 865.4 887 898 844 downtrend with decent volumes. Some fresh
buying is expected in the extreme short term.

Short
The stock has made a negative divergence
JUSTDIAL March (1 Lot=
587.15 561 550 601 both in RSI and Stochastic on daily chart. Some
Future 1200) selling is very likely 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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