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DailyMorningNote 03-11-2017 08
DailyMorningNote 03-11-2017 08
3 November 2017
Indices Current % %
Value 1D YTD Minister of Road Transport & Highways plans Rs 5 lakh crore
Sensex 33573 (0.08) 26.09 bond sale to fund large infrastructure projects
Nifty 10424 (0.16) 27.34
Asian markets are mixed tracking cues from Wall Street overnight and
BSE Mid Cap 16725 0.47 39.01
BSE Sml Cap 17769 0.41 47.51 investors take note of data from China. The Caixin services PMI for
SGX Nifty Fut 10466 0.11 27.88 October came in at 51.2. Nikkei is shut for trading due to holiday, Hang
Sectors Performance (BSE)
Healthcare 14612 2.48 (0.79) Seng was trading higher by 0.26% and Shanghai was trading lower by
Consumer Dur 18584 1.26 65.38 0.25%. The domestic markets are expected to open on a flat note. Sgx
Power 2355 0.34 18.51
Nifty is trading higher by 0.05%.
FMCG 10304 (0.93) 26.72
Auto 25209 (0.61) 24.44
The U.S. markets ended mixed in a volatile session as investors examined
Oil & Gas 16550 (0.34) 36.20
the details of the tax-reform plan proposed by Republicans ; The tax plan
Index FY17E FY18E FY19E would cut mortgage interest deductions in half, while it would keep
SensexEPS 1440 1564 1897
retirement savings plans like the popular 401(k) intact . Investors also
P/E 23.31 21.47 17.70
NiftyEPS 454 527 629 digested news that Fed Governor Jerome Powell has been nominated to
P/E 22.96 19.78 16.57
become the central bank's next chair. The Dow Jones gained 81 points, or
FII Trading activities in Cash 0.35%, to close at 23,516 while NASDAQ lost 2 points or 0.02% to close at
Date Net MTD CYTD
FII
6,715.
02/11 1033 2071 (21500)
DII 02/11 (457) (1124) 72324
What to watch
Figs. in Rs Cr., Source: Bloomberg.
Results Today: Hindalco, Power Finance Corp, Punjab National
Current % % Bank, BSE, Godrej Properties, Shipping Corp., Sical Logistics, SITI
Global Indices
Value 1D YTD Networks, Tata Power, Titan, Torrent Pharma, Trident, UCO Bank,
Dow Jones 23516 0.35 18.99 Unichem Laboratories, Union Bank of India.
Nasdaq 6715 (0.02) 24.74
Minister of Road Transport & Highways plans Rs 5 lakh crore bond
DAX 13441 (0.18) 17.07
sale to fund large infrastructure projects
Nikkei 225 22539 0.53 17.92
FTSE 100 7555 0.90 5.77 Corporate
Hang Seng 28586 0.24 29.94
Dr. Reddy's Laboratories has announced the launch of generic
Shanghai A Sha 3374 (0.27) 8.72
Azacitidine for injection in the Canadian market.
Bovespa 73824 (0.65) 22.58 AU Small Finance Bank has received approval from Reserved Bank
Strait Times 3372 (0.26) 17.04 of India (RBI) to operate as Scheduled Commercial Bank.
Source: Bloomberg; As on 8.30 am IST Lakshmi Vilas Bank: Max Life Insurance has reportedly entered into
formal negotiations to increase its stake in the bank to up to 10%.
Forex Rate Lupin has launched generic Acticlate tablet in U.S.which is used in
INR/USD
the treatment of infections caused by various microorganisms and as
64.61 0.21 5.13
an adjunctive therapy in severe acne.
INR/EUR 75.29 (0.17) (4.79)
SRF has reached a definitive agreement to acquire the HFC-125 assets
INR/GBP 85.35 0.65 (2.18)
from a global leader in the development, manufacture and supply of
INR/YEN (100) 56.66 0.02 2.56 fluoroproducts.
3 November 2017 2
Investment Picks
3 November 2017 3
Technical View (Equity)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,423.80 -0.16% 10390 10405 10430 10445 10470
Sensex 33573.22 -0.08% 33455 33515 33585 33645 33715
Comments:
Nifty opened on a flat note and remained in a small range throughout the day. Nifty closed at 10424 with a loss of
17 points.
On the daily chart the index has formed a small Bearish candle with shadows on either side indicating
indecisiveness amongst participants regarding the direction. The index is moving in a Higher Top and Higher
Bottom formation on the daily chart indicating sustained up trend. The chart pattern suggests that if Nifty crosses
and sustains above 10430 levels it would witness buying which would lead the index towards 10450-10480 levels.
Important Supports for the day is around 10410 However if index sustains below 10410 then it may witness profit
booking which would take the index towards 10390-10370 levels. Nifty is trading above 20, 50 and 100 day SMA's
which are important short term moving averages, indicating positive bias in the short to medium term. Nifty
continues to remain in an uptrend in the short and medium term, so buying on dips continues to be our preferred
strategy.
The daily strength indicator RSI is moving upwards and above its reference line indicating positive bias. However
momentum oscillator Stochastic has turned negative from the overbought zone indicating a possible
consolidation or a down move in the near term.
The trend deciding level for the day is 10430. If NIFTY trades above this level then we may witness a further rally
up to 10445-10470-10485 levels. However, if NIFTY trades below 10430 levels then we may see some profit
booking initiating in the market, which may correct up to 10405-10390-10365 levels
Stocks to focus for intraday Long Biocon, Justdial, Glenmark, Aurophama, Magma, SRF,
Powergrid , Ptc
Stocks to focus for intraday Short TechM, Apollotyre, Heromotoco, Infratel, Tatachem
3 November 2017 4
Technical View (Currency)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
USD/INR
64.8 -0.03% 64.57 64.68 64.78 64.89 64.99
(Future)
Comments:
On the daily chart USDINR has opened with a downward gap and observed buying momentum in initial half
however selling around 64.87 levels led it close on flat note. USDINR closed at 64.8 with a loss of 0.03 %.
On the daily chart USDINR has formed a small Bullish candle with shadows on either side indicating indecisiveness
amongst participants regarding the direction USDINR is moving in a Lower Top and Lower Bottom formation on
the daily chart indicating sustained down trend. USDINR is trading below 20 and 50 day SMA's which are
important short term moving averages, indicating negative bias in the short to medium term
The chart pattern suggests that if USDINR crosses and sustains above 64.88 level it would witness buying which
would lead USDINR towards 65-65.10 levels. However if index breaks below 64.70 level it would witness selling
which would take USDINR towards 64.60-64.50.
The daily strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their
respective reference lines indicating negative bias
3 November 2017 5
Daily Support/ Resistance of Nifty Companies
3 November 2017 6
Commodity snapshot
3 November 2017 7
DAILY DERIVATIVES 03 November 2017
previous day premium Stocks which witnessed short build up are IGL, APOLLOTYRE,
HINDALCO and MCX may remain weak in coming session.
of 37 point.
Nifty put options OI distribution shows that 10000 has highest OI
concentration followed by 9900 and may act as good support for
FII's were sellers in current expiry.
Index Futures to the Nifty call strike 10500 followed by 10600 witnessed significant OI
concentration and may act as resistance for current expiry.
tune of 760 crores and
were buyers in Index
Options toINthe
SECURITIES BANtune PERIODof Market Indsite:
3574 crores, Stock
JSWENERGY, WOCKPHARMA, HDIL, IBREALEST
Futures
Stock were
Futures soldBuild
- Long to Up Market Indsite:
Stock Futures - Short Build Up
the tune of
Symbol 333 crores.
Fut Price % Chg Open Interest % Chg Symbol Fut Price % Chg Open Interest % Chg
FII's were net660.buyers
TITAN 1 3.12in 7174500 10.46 IGL 1581. 8 -0.86 1223750 8.54
derivative segment
POWERGRID 216. 6 to
2.31 24576000 8.13 APOLLOTYRE 237. 7 -3.18 16221000 8.49
the tune of 2545
UBL 1087. 1 2.58 1893500 5.71 HINDALCO 273.05 -1.57 44901500 8.11
crores.
BERGEPAINT 268. 8 0.21 1764400 17.08 MCX 1027.35 -2.36 1953500 7.28
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2 Vaishnavi Jagtap Technical Analyst vaishnavi.jagtap@axissecurities.in
3 Kruti Shah Derivative Analyst kruti.shah@axissecurities.in
4 Soni Patnaik Derivative Analyst soni.patnaik@axissecurities.in
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3 November 2017 8
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