Anxiety likely ahead of Thursday’s release of the January PCE index,

the Fed's preferred measure of inflation that tracks consumer spending.

# Long story short: Until, the Fed slays the inflation beast, volatility will continue
to be the hallmark and Nifty and its stocks just can’t not stomach higher.
Nifty's support is seen at 21807/21505 mark.

Daily Research Reports

Disclosures and Disclaimer : This report must be read with the disclosures in the
Disclosure appendix, and with the Disclaimer, which forms part of it. This document does www.capstocks.com
not contain any investment views or opinions.
 Thursday
Morning CAPSTOCKS 29th February, 2024

# Good Morning & Welcome to Thursday’s trading session at Dalal INDICES

Street, dated February 29th 2024.
Nifty 21951 -1.11%
# Nifty slumped in yesterday’s terrifying session, and the negative takeaway was Bank Nifty 45963 -1.34%
that the benchmark ended way below the critical psychological 22000 mark.
Nifty Auto Index 20372 -2.00%
# The small-cap and mid-cap indices too tumbled around 2% after capital
Nifty FMCG Index 53825 -0.89%
markets regulator SEBI advised mutual funds to protect investor interest by
limiting flows, rebalancing portfolios and other measures. Nifty Infra Index 8055 -1.78%

# The 3-big negative catalysts surrounding Dalal Street: Nifty IT Index 37742 -0.34%

1) FIIs unimpressed with strength in the Indian stock markets. (Please note, Nifty Media Index 2069 -3.46%
month-to-date FIIs have sold to the tune of Rs. 17,650 crore. Interestingly, Nifty Midcap Index 13618 -2.25%
this month, DIIs have net bought worth Rs. 23,782 crore).
Nifty Metal Index 7850 -1.88%
2) The recent FOMC Minutes suggests that the Federal Reserve is in no rush to
Nifty Pharma Index 18943 -0.64%
cut rates and that’s on the heels of recent higher-than-expected inflation
readings. Nifty Reality Index 910 -2.11%

3) Anxiety ahead of Thursday’s release of the January Personal Consumption Nifty Smallcap Index 15875 -1.87%

and Expenditures (PCE) index, the Fed's preferred measure of inflation that Sensex 72305 -1.08%
tracks consumer spending. (Honestly speaking, the key PCE inflation data
SGX Nifty 22171 -0.10%
could suggest the narrative of when and by how much the Federal Reserve
could cut interest rates this year).

# Long story short: Until, the Fed slays the inflation beast, volatility will Outlook for the Day
continue to be the hallmark and Nifty and its stocks just can’t not stomach higher. Volatile session likely

# Now, before we get into detail, here is the preferred trade on Nifty
and Bank Nifty:

Nifty (21951): Sell at CMP. Stop at 22311. Targets 21857/21807. Aggressive Nifty Outlook
targets at 21505-21550 zone.
Intraday Neutral (21750-22100)
# Bank Nifty (45963): Sell at CMP. Stop at 47051. Targets 45505/45001.
Medium Term Positive (21300-22500)
Aggressive targets at 44429-44600 zone.
Long Term Positive (20050-23000)

Outlook for Thursday: An up-and-down session is quite

likely.
Key Levels to Watch
# Volatility is likely to be hallmark of today’s trading session amidst monthly
Nifty Support 22750/21557
expiry of February F&O contracts.
Nifty Resistance 22101/22301
# Reliance Industries announces Rs 70,352 crore JV with Disney to merge
streaming, TV assets in India.

# NSE has announced that Shriram Finance will replace UPL in Nifty50. The Pivot Level
changes will come into place on March 28, 2024. Additionally, Jio Financial Nifty 21821
Services will enter Nifty Next 50.

www.capstocks.com
 Morning CAPSTOCKS
NSE in its press release also said that Adani Wilmar, Muthoot Finance, PI
Industries, Procter and Gamble Health and Hygiene Care will exit from Nifty
Next 50
# All eyes on the India’s GDP numbers for the quarter ended December 2023 due
on February 29.
# Investors will be keeping a close eye on the auto sales data for February, which
will be announced on Friday, March 1st.
# Vodafone Idea plans to raise about Rs 45,000 crore via equity and debt;
promoters to participate. (The company said it will call for a meeting of its
shareholders on April 2, 2024 and expects to complete Rs 20,000-crore equity
fund raise in the coming quarter).
STOCKS TO WATCH:
SECTORS:
# Bullish Sectors: PHARMA.
# Bearish Sectors: FMCG, METAL, PSU BANK, PRIVATE BANKS.
# BULLISH STOCKS: BHARTIARTL, INFY, TCS, JK CEMENT.
# BEARISH STOCKS: ASHOK LEYLAND, DIXON TECHNOLOGIES, REC, PFC,
LTIM, DIVIS LAB, BAJAJ FINANCE, BAJAJ FINSERV, HEROMOTO CORP,
# Our chart of the day suggests value buying and bargain hunting shall be the
preferred theme and gain traction at Dalal Street. We are quite bullish on TATA
MOTORS, and INFY with inter-month perspective.
# The 1 stock to buy right now: Buy TATA MOTORS (CMP 958). Buy between
935-940 zone. Stop at 913. Targets 977/993. Aggressive targets at 1017.
(Interweek Strategy). Rationale: Momentum Play.
# Meanwhile, five new stocks will be part of the MSCI Global Standard Index
when the rejig comes into effect on February 29. These 5-stocks are:
1. BHEL
2. GMR Airports Infrastructure
3. NMDC
4. Punjab National Bank
5. Union Bank of India.
FII/DII & OPTIONS DATA:
# The Put-Call Open Interest Ratio was at 0.53 for Nifty.
# In yesterday’s session, FIIs were net sellers to the tune of Rupees 1879 crores.
www.capstocks.com
Technical Strategy
DR REDDYS LAB 6428
Action BUY
Target 6900
Support 6125/5880
Resistance 6750/7100
Holding Period 9-12 Months.
Incorporated in the year 1984, Dr. Reddy's Laboratories Ltd (DRL)
is an Indian pharmaceutical manufacturer headquartered in
Hyderabad, India products and services including APIs, generics,
branded generics, biosimilars and OTC. DLR major therapeutic areas of
focus are gastrointestinal, cardiovascular, diabetology, oncology, pain
management and dermatology. The firms’ major markets include –
USA, India, Russia & CIS countries, China, Brazil and Europe.
Dr Reddy’s (DRL) revenue consists of US (47%), India (17%), Europe
Market Generic (7%), Emerging Markets Generic (+18%) PSAI
(+10%)
Revenue Analysis [Q3FY24]
Q3FY24 consolidated revenue at Rs. 72.1 billion, YoY growth of 7% and
QoQ growth of 5%. The YoY growth was primarily driven by market
share gains for our existing products in North America and continuation
of our growth journey in Europe.
Global Generics (GG): Q3FY24 revenue at Rs. 63.1 billion, YoY growth
of 7% and QoQ growth of 3%. YoY growth was primarily driven by
increase in volumes of our base business, new product launches,
partially offset by price erosion in certain markets. Sequential growth
was driven by increase in volumes of our base business, offset partially
due to price erosion in certain markets.
Research & development (R&D) expenses in Q3FY24 at Rs. 5.6 billion.
As % to Revenues – Q3FY24: 7.7% | Q2FY24: 7.9% | Q3FY23: 7.1%.
R&D investments are driven by ongoing clinical trials on differentiated
assets, as well as other developmental efforts to build a healthy pipeline
of new products across our markets for both small molecules and
biosimilars.
Other Highlights:
EBITDA for Q3FY24 at Rs. 21.1 billion and the EBITDA margin is 29.3%.
Operating Working Capital at Rs. 108.1 billion.
Capital expenditure for Q3FY24 at Rs. 3.1 billion.
Free cash-flow for Q3FY24 at Rs. 0.2 billion.
Net cash surplus at Rs. 59.1 billion as on December 31, 2023.
Debt to Equity is (0.21).
ROCE for the company is 37% (annualized).
DRL has 13 formulation facilities, nine API manufacturing facilities, one
biologics facility and several R&D centres across the globe.
Technically, brace yourselves for an impulse uptrend seen forming on
the daily time scale, with positive SAR series. The sequence of higher
high/low intact on all time frames.
Add to that a bullish divergence and a rising stochastic signal (on
weekly charts) with recent increase in volumes signaling a larger
rebound. The 200 days Exponential Moving Average (EMA) of the stock
on the daily chart is currently at 5429-5450 zone. Any sharp corrective
declines to 5500 zone will be an opportunity to initiate aggressive long
positions.
Simply buy at CMP, and on dips between 5850-5900 zone, targeting
6500/6650 mark and then at 6900 mark. Stop below 5711. Holding
Period: 9-12 Months.
 Morning CAPSTOCKS

# DIIs however bought to the tune of Rupees 1827 crores.

# Stocks banned in F&O segment: INDUS TOWER, SAIL.

WHAT TECHNICAL TELLS US ON NIFTY

Daily chart of Nifty:

# Nifty: In yesterday’s trade, Nifty witnessed massive drubbing and the negative takeaway was that benchmark ended on a ugly
note.
In the process, Nifty formed a big bearish candlestick pattern.
Nifty’s all-time-high continues to be at 22249.40 mark.
Meanwhile, the recent sequence of higher high/low is still intact on time frames but that said the technicals are suggesting
weakening momentum.
The technical landscape suggests Nifty’s major support at 21807 mark. Interweek support seen at 21505 mark.
Nifty’s 200 DMA at 20030 mark.

Daily chart of Bank Nifty:

www.capstocks.com
 Morning CAPSTOCKS

# Bank Nifty: In yesterday’s trade, Bank Nifty witnessed volatile movements and the negative takeaway was that the benchmark
ended way below the dotted lines.

Bank Nifty was mostly seen underperforming benchmark Nifty’s bearish move.

Bank Nifty ended with 1.34% losses as against Nifty’s 1.11% loss.

Interestingly, in Wedesday’s trade, Nifty PSU Bank index ended 2.30% lower while Nifty Private Bank index ended 1.51% lower.

# Bank Nifty’s fresh new all-time-high continues to be at 48636.45 mark.

Intraday support for Bank Nifty now seen at 45505/44429 and then at 43721 on closing basis.

In today’s trade, Bank Nifty is likely face resistance at 46401/46900 mark and then hurdles are placed at 48636. Bank Nifty’s 200-
DMA is placed at 45095 mark.

ECONOMIC CUES:

# The US economy expanded an annualized 3.2% in Q4 2023, slightly below 3.3% in the advance estimate, following a 4.9% rate in
Q3.

The update primarily reflected a downward revision to private inventory investment that was partly offset by upward revisions to
state and local government spending and consumer spending.

GLOBAL STOCK MARKETS:

# Overnight, US stocks were mostly lower and mostly wobbling in Wednesday’s session as investors digested the latest economic
data and looked ahead to the Federal Reserve’s preferred inflation gauge.

After touching record levels last week, the big three indexes were on the back foot ahead of a crucial inflation reading on Thursday.

Expectations for cuts may be affected by new data out Thursday showing the latest readings for the Fed’s preferred inflation index.
Markets are currently pricing in the first reduction in June, compared with March at the start of the year, according to the CME
Fedwatch tool.

There will also be a spate of officials from the Fed delivering remarks in the coming days, which investors will scrutinize for hints of
what the central bank will do when its monetary policy committee next meets over March 19-20.

RECAP OF PREVIOUS DAY’S TRADING SESSION:

Nifty slumps in a terrifying session, ends below psychological 22000 mark.

Massive Profit Booking Blamed.

NIFTY (-247, 21951)

Sensex (-790, 72305)

It was sea of red at Dalal Street as all sectoral indices had nothing to offer but blood, toil, tears and sweat.

www.capstocks.com
 Morning CAPSTOCKS

Nifty Media (-3.5%), Nifty Reality, PSU Banks, Auto, Metal and Nifty PSE indices received fresh drubbing, down 2% each, and most
importantly, ended on an ugly note.

Well, the main reason for the pessimism can also be attributed to lack of direction ahead of Thursday’s release of the January US
Personal Consumption and Expenditures (PCE) index, the Fed's preferred measure of inflation that tracks consumer spending.

Meanwhile, shares of debt-laden Vodafone Idea tumbled 13.88% after the fundraising announcement by the company failed to lift
investors' sentiment.

# Long story short: The bear was everywhere

# BUZZING STOCKS FOR THE DAY:

Top Index Gainers: HUL (+0.77%) BHARTIARTL (+0.16%) INFY (+0.14%)

Top Index Losers: POWERGRID (-4.22%) BAJAJ AUTO (-3.82%) APOLLOHOSP (-3.77%)

# Adv-Dec 04—46

# INDIA VIX 16.33 (+3.81%)

# Nifty PCR (29th FEB) 0.53

# BANKNIFTY PCR (29th FEB) 0.57

# Nifty MidCap 50 (-2.25%, 13618)

# NiftySmallC (-1.87%, 15875)

# BANK Nifty (-1.34%, 45963)

# Nifty IT (-0.34%, 37742)

# USD/INR (-0.03%, 82.99)

www.capstocks.com
 TOP PICKS (F & O)
It's like having investment binoculars !

Dalal Street Could Take Another Tumble. We Are Bearish On Tech Mahindra.

STOCKS LTP S1 S2 R1 R2 BIAS TRADING STRATEGY

Sell between 5340-5350 zone. Stop at 5453. Targets

LTTS 5315 5235 5039 5418 5501 Negative 5235/5150. Aggressive targets at 5039. (Interweek
Strategy). Rationale: Weakening Momentum.

Sell at CMP. Stop at 1319. Targets 1263/1241.

TECH MAHINDRA 1286 1241 1213 1307 1341 Negative Aggressive targets at 1213. (Interweek Strategy).
Rationale: Weakening Momentum.

Sell between 3525-3650 zone. Stop at 3677. Targets

TITAN 3595 3537 3491 3669 3709 Negative 3537/3491. Aggressive targets at 3389. (Interweek
Strategy). Rationale: Weakening Momentum.

Sell between 9850-9875 zone. Stop at 10193. Targets

ULTRATECH CEMENT 9805 9706 9521 9980 10151 Negative 9706/9611. Aggressive targets at 9521. (Interweek
Strategy). Rationale: Weakening Momentum.

Buy between 935-941 zone. Stop at 903. Targets

TATA MOTORS 958 935 911 977 1017 Positive 977/993. Aggressive targets at 1017. (Interweek
Strategy). Rationale: Momentum Play.

www.capstocks.com
 EQUITY DERIVATIVES Thursday
29th February, 2024
Looking into the future from present.

Derivatives Strategies Changes in Open Interest (OI) in yesterday’s trade.

Future Call: SELL HDFCBANK MARCH FUTURES at CMP 1411.15.

Nifty Spot 21951.15 (-1.11%)
Targets at 1388 and then at 1362. Stop at 1439. Holding Period:
Intraday. Analyst’s Remark: Breaking Down. (HDFCBANK MARCH Bank Nifty Spot 45963.15 (-1.34%)
Futures CMP 1411.15)
VIX 16.33 (+3.81%)

Option Call: BUY NIFTY PE Strike Price 21800 at CMP 134.95. Premium +56 vs 06
Maximum Loss: ₹ 6,747.5/-. Profit: Unlimited. Stop: Exit Put Option Nifty Future OI 0.52 crores (-24.06%)
if NIFTY moves above 22191. (NIFTY FEBRUARY Futures CMP
22045) Bank Nifty Future OI 13.36 lakhs (-26.86%)

Market Summary: Cash Volumes Day Before

Yesterday
(INR in Cr.) Yesterday
• Nifty February Futures ended Wednesday’s session at a premium of
+56 vs premium of +06. BSE Cash Vol.
7102.69 9698.71
(Rs. in Cr)
• The 29th February expiry Put-Call Open Interest Ratio was at 0.52 NSE Cash Vol.
93,572.23 97,554.75
for Nifty whereas it was 0.57 for Bank Nifty. (Rs. in Cr)
NSE Derivative
• The 29th February expiry Put-Call Volume Ratio was at 0.97 for the 5,595,174 4,673,603
Vol. (Rs. in Cr)
Nifty and 1.13 for Bank Nifty.

• For Nifty, Maximum Call Open Interest (OI) stands at 23000 Strike Derivatives Vol. No of Turnover
Price, followed by 22500 Strike Price for 29th February Series. Short (INR in Cr.) contracts (Rs. In cr.)
Buildup was seen at strike prices 22000-22700.
Index Future Volumes 204,929 16,717
• Maximum Put Open Interest (OI) was seen at strike price 21500
followed by 21000 strike prices for 29th February series. Short Covering Stock Future Volumes 1,750,615 141,778
was seen at strike prices 21900-22300.
Index Option Volumes 65,316,980 5,386,995
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 47000
Strike Price and Maximum Put Open Interest stands at 44000 Strike Stock Option Volumes 581,894 49,684
Price.
Total 67,854,418 5,595,174
• As per Wednesday’s provisional data available on the NSE, FII sold
shares worth Rs. 1879.23 crores in the Indian Equity Market. DIIs on
the other hand, bought shares worth Rs. 1827.45 crores. Major Changes in Nifty Options (OI)

Calls in lakhs (% Change)

• Long Buildup: ICICIGI.
23600 0.31 (-28%)
• Short Buildup: HDFCBANK, PFC, RELIANCE, KOTAKBANK. 23700 0.14 (+8%)
• Short Covering: INFY, HAVELLS, PIIND. 23800 0.34 (+62%)

• Long Unwinding: IDFCFIRSTB, GAIL, SBIN, TATAMOTORS.

Puts
• Stocks banned in F&O segment: INDUSTOWER, SAIL.
22000 1.06 (-39%)
• New in Ban: NIL. 22100 0.49 (-59%)
• Out of Ban: ABFRL, CANBK, ZEEL. 22200 0.48 (-53%)

www.capstocks.com
 DAILY PIVOT TABLE Thursday
29th February, 2024

Stock CMP Support Resistance 21 DMA 200 DMA Intraday Short Term Long Term
NIFTY 21951 21512 22390 21935 20030 UP UP UP
BANKNIFTY 45963 45044 46882 46121 45095 UP DOWN DOWN
FINNIFTY 20340 19934 20747 20431 20096 UP DOWN DOWN
NIFTYAUTO 20372 19965 20780 19984 16601 UP UP UP
NIFTYFMCG 53825 52748 54901 54158 52841 DOWN DOWN DOWN
NIFTYINFRA 8055 7894 8216 8026 6466 UP UP UP
NIFTYIT 37742 36987 38497 37755 32324 UP UP UP
NIFTYMEDIA 2069 2027 2110 2144 2149 DOWN DOWN DOWN
NIFTYMETAL 7850 7693 8007 8007 6905 UP DOWN UP
NIFTYMID50 13618 13346 13891 13829 11577 DOWN UP UP
NIFTYOILAN 11442 11213 11670 11538 8577 DOWN UP UP
NIFTYPSE 9085 8903 9266 9191 6396 UP UP UP
NIFTYPSUBA 6841 6704 6977 6862 5077 DOWN UP UP
NIFTYREALT 910 891 928 881 643 UP UP UP
NIFTYSMLCA 15875 15558 16193 16138 12997 UP DOWN UP

AARTIIND 649 636 661 668 535 DOWN UP UP

ABB 5429 5320 5537 4734 4406 UP UP UP
ABBOTINDIA 28610 28038 29182 28472 23712 DOWN UP UP
ABCAPITAL 182 176 187 182 178 DOWN UP UP
ABFRL 231 224 238 240 221 DOWN DOWN UP
ACC 2573 2522 2625 2608 2043 DOWN UP UP
ADANIENT 3219 3155 3283 3215 2591 UP UP UP
ADANIPORTS 1300 1274 1325 1278 895 UP UP UP
ALKEM 4990 4890 5090 5200 4122 DOWN UP UP
AMBUJACEM 589 577 601 578 467 UP UP UP
APOLLOHOSP 6362 6235 6490 6516 5331 DOWN UP UP
APOLLOTYRE 508 497 518 527 426 DOWN DOWN UP
ASHOKLEY 169 164 174 174 173 DOWN DOWN UP
ASIANPAINT 2794 2738 2850 2952 3199 DOWN DOWN DOWN
ASTRAL 2052 2011 2093 1945 1899 UP UP UP
ATUL 6082 5960 6203 6322 6778 DOWN DOWN DOWN
AUROPHARMA 1029 1008 1049 1036 894 DOWN DOWN DOWN
AXISBANK 1074 1053 1096 1072 1014 UP DOWN DOWN
BAJFINANCE 6499 6369 6629 6662 7281 DOWN DOWN DOWN
BALKRISIND 2229 2185 2274 2337 2459 DOWN DOWN DOWN
BALRAMCHIN 371 360 382 383 404 DOWN DOWN DOWN
BANKBARODA 262 254 270 263 209 UP UP UP
BATAINDIA 1406 1378 1434 1430 1606 DOWN DOWN DOWN
BEL 206 199 212 188 146 UP UP UP
BHARATFORG 1152 1129 1175 1184 1037 DOWN DOWN DOWN
BHARTIARTL 1129 1106 1151 1132 947 DOWN UP UP
BHEL 225 218 231 227 139 UP UP UP
BIOCON 271 263 279 277 255 DOWN UP UP
BPCL 609 597 621 607 411 DOWN UP UP
BRITANNIA 4888 4790 4986 4987 4813 DOWN DOWN UP
BSOFT 767 752 783 824 550 DOWN DOWN UP
CANBK 550 539 561 554 387 DOWN UP UP
CANFINHOME 768 752 783 802 762 DOWN UP DOWN
CIPLA 1477 1447 1507 1438 1190 UP UP UP
COALINDIA 434 426 443 445 305 DOWN UP UP
COFORGE 6465 6335 6594 6542 5376 UP UP UP
CONCOR 957 938 976 955 753 DOWN UP UP
CROMPTON 292 283 301 291 293 DOWN DOWN DOWN
CUB 134 130 138 136 136 UP DOWN DOWN
CUMMINSIND 2715 2660 2769 2562 1909 UP UP UP
DALBHARAT 2017 1977 2057 2123 2167 DOWN DOWN DOWN
DEEPAKNTR 2191 2147 2234 2264 2163 DOWN DOWN UP
DIVISLAB 3518 3448 3589 3673 3649 DOWN DOWN DOWN
DIXON 6543 6412 6674 6453 5189 DOWN UP UP
DLF 899 881 917 846 598 UP UP UP
DRREDDY 6428 6299 6557 6270 5508 UP UP UP
EICHERMOT 3864 3786 3941 3893 3615 UP UP DOWN
ESCORTS 2825 2769 2882 2898 2808 UP DOWN DOWN
EXIDEIND 318 309 328 335 271 DOWN UP UP
FEDERALBNK 150 146 155 151 142 DOWN UP UP
GAIL 179 174 185 179 131 UP UP UP
GLENMARK 911 893 929 877 775 UP UP UP
GRANULES 460 451 469 441 349 UP UP UP
GRASIM 2186 2142 2230 2140 1915 UP UP UP
HAL 3085 3023 3147 2997 2209 UP UP UP
HCLTECH 1652 1619 1685 1639 1300 UP UP UP
HDFCAMC 3837 3760 3914 3722 2743 UP UP UP
HDFCBANK 1409 1381 1438 1424 1578 UP DOWN DOWN
HDFCLIFE 581 569 592 584 628 DOWN DOWN DOWN
HEROMOTOCO 4375 4288 4463 4680 3418 DOWN DOWN UP
HINDALCO 504 494 514 543 486 DOWN DOWN DOWN
HINDCOPPER 254 246 262 269 172 DOWN DOWN UP
HINDPETRO 507 497 517 525 327 DOWN UP UP
HINDUNILVR 2422 2373 2470 2411 2552 UP DOWN DOWN
ICICIBANK 1046 1025 1067 1031 970 UP UP UP
IDEA 14 13 14 15 11 DOWN DOWN UP
IDFCFIRSTB 81 78 83 82 85 DOWN DOWN DOWN
IEX 141 137 145 145 138 DOWN DOWN DOWN
INDHOTEL 571 559 582 538 424 UP UP UP
INDIAMART 2664 2610 2717 2679 2813 DOWN UP DOWN
INDIGO 3126 3063 3188 3103 2652 DOWN UP UP
INDUSINDBK 1449 1420 1478 1494 1441 DOWN DOWN DOWN
INDUSTOWER 245 237 252 224 185 UP UP UP
INFY 1671 1638 1705 1680 1451 UP UP UP
IOC 167 162 172 177 110 DOWN UP UP
IPCALAB 1188 1165 1212 1187 951 UP UP UP
IRCTC 924 906 943 946 735 DOWN DOWN UP
ITC 408 400 416 417 447 DOWN DOWN DOWN
JINDALSTEL 755 740 770 765 664 DOWN UP UP
JKCEMENT 4447 4358 4536 4296 3504 UP UP UP
JSWSTEEL 799 783 815 817 789 DOWN DOWN UP
L&TFH 165 160 170 172 138 DOWN UP UP
LALPATHLAB 2313 2267 2359 2451 2382 DOWN DOWN DOWN
LAURUSLABS 405 397 413 395 380 UP DOWN DOWN
LICHSGFIN 638 625 651 640 472 UP UP UP
LT 3470 3401 3540 3375 2927 UP DOWN DOWN
LTIM 5410 5302 5518 5476 5335 DOWN DOWN DOWN
LTTS 5315 5209 5421 5471 4565 DOWN UP UP
LUPIN 1616 1584 1649 1589 1152 UP UP UP
M&M 1902 1864 1940 1771 1557 UP UP UP
MANAPPURAM 173 167 178 182 148 DOWN UP UP
MARUTI 11153 10930 11376 11042 10115 DOWN UP UP
MCDOWELL-N 1138 1115 1160 1118 1017 UP UP UP
MCX 3660 3587 3733 3641 2322 UP DOWN UP
METROPOLIS 1605 1573 1638 1697 1498 DOWN UP DOWN
MGL 1466 1437 1495 1495 1132 DOWN UP UP
MIDCPNIFTY 10751 10536 10966 10846 9200 DOWN UP UP
MPHASIS 2654 2601 2707 2646 2319 UP UP UP
NATIONALUM 152 148 157 156 104 UP UP UP
NAUKRI 5315 5209 5421 5284 4592 DOWN UP UP
NAVINFLUOR 3018 2957 3078 3165 4017 DOWN DOWN DOWN
NMDC 223 216 230 236 157 DOWN UP UP
NTPC 333 323 343 332 246 UP UP UP
OBEROIRLTY 1333 1306 1359 1329 1196 UP DOWN DOWN
ONGC 266 258 274 268 193 UP UP UP
PERSISTENT 8408 8240 8577 8591 6128 DOWN UP UP
PETRONET 274 265 282 276 229 UP UP UP
PFC 390 378 401 432 274 DOWN DOWN DOWN
PIDILITIND 2702 2648 2756 2660 2574 UP UP DOWN
PIIND 3634 3561 3707 3518 3578 UP UP UP
PNB 121 117 124 124 77 DOWN UP UP
POLYCAB 4710 4616 4804 4526 4653 UP UP UP
POWERGRID 280 271 288 277 210 UP UP UP
RBLBANK 256 248 263 261 230 DOWN DOWN DOWN
RECLTD 427 418 435 476 294 DOWN DOWN DOWN
RELIANCE 2911 2853 2969 2922 2488 DOWN UP UP
SAIL 122 118 125 129 98 DOWN DOWN UP
SBICARD 729 715 744 723 805 UP DOWN DOWN
SBILIFE 1540 1509 1571 1477 1345 UP UP UP
SBIN 743 728 757 718 605 UP UP UP
SIEMENS 4577 4485 4668 4347 3806 UP UP UP
SRF 2371 2324 2418 2341 2337 UP UP DOWN
SUNPHARMA 1574 1542 1605 1513 1177 UP UP UP
TATACHEM 944 925 963 976 1011 DOWN DOWN DOWN
TATACOMM 1913 1875 1951 1776 1688 UP UP UP
TATACONSUM 1168 1145 1191 1150 930 UP UP UP
TATAMOTORS 958 939 977 923 677 UP UP UP
TATAPOWER 366 355 377 382 273 DOWN DOWN UP
TATASTEEL 141 137 145 141 124 DOWN UP UP
TCS 4119 4037 4201 4057 3542 DOWN UP UP
TECHM 1286 1260 1312 1315 1209 DOWN UP UP
TITAN 3595 3523 3667 3620 3265 UP DOWN UP
TORNTPHARM 2613 2561 2665 2610 2059 UP UP UP
TRENT 3925 3846 4003 3698 2352 UP UP UP
TVSMOTOR 2095 2053 2136 2077 1621 UP UP UP
ULTRACEMCO 9805 9609 10001 9960 8790 UP DOWN UP
UPL 476 466 485 489 598 DOWN DOWN DOWN
VEDL 263 255 271 271 256 DOWN UP UP
VOLTAS 1111 1088 1133 1079 876 UP UP UP
ZEEL 162 157 167 180 233 DOWN DOWN DOWN
ZYDUSLIFE 933 914 951 854 641 UP UP UP
- - - - - - - - -
- - - - - - - - -

All level indicated above are based on cash market prices.

Pivot Point

PP : Pivot Point : This is trigger point for weekly buy/sell based on the price range of the previous week.
R1 : Resistance one : 1st Resistance over PP. R2 : Resistance two : 2nd Resistance over R1.
S1 : Support one : 1st support after PP. S2 : Support Two : 2nd support after S1.

As per the tool, the trader should take BUY position just above PP and keep the stop loss of PP and the first target would be R1.
If R1 is crossed then R2 becomes the next target with the stop loss at R1.

Similarly if price goes below PP the trader should SELL and keep the PP as Stop loss and the first target would be S1.

If S1 is crossed then S2 becomes the next target with the stop loss at S1.
This is a trading tool. The key to use of this tool is the use of STOP LOSS.

www.capstocks.com
 DAILY PIVOT TABLE Thursday
29th February, 2024

Stock CMP Support Resistance 21 DMA 200 DMA Intraday Short Term Long Term

ALUMINIUM 1 198 192 204 200 202 DOWN DOWN DOWN

COPPER 1 727 712 742 719 719 UP UP DOWN
CRUDEOIL 1 6521 6391 6651 6349 6445 UP UP DOWN
GOLD 1 62241 60996 63486 62326 60249 DOWN DOWN UP
LEAD 1 179 173 184 179 184 DOWN UP DOWN
NATURALGAS 1 157 152 162 156 220 UP UP DOWN
NICKEL 1432 1404 1461 1634 1950 DOWN DOWN DOWN
SILVER 1 68825 67449 70202 71101 72114 DOWN DOWN DOWN
STEEL 1 42690 41836 43544 42820 45286 UP UP DOWN
ZINC 1 215 208 221 216 220 DOWN UP DOWN
0 0
CASTOR 1 5730 5615 5845 5793 5946 DOWN DOWN UP
DHANIYA 1 8020 7860 8180 7722 7113 UP UP UP
GUARGUM5 1 10323 10117 10529 10217 11246 UP UP DOWN
GUARSEED10 1 5301 5195 5407 5315 5620 UP DOWN DOWN
JEERAUNJHA 1 24410 23922 24898 26618 46716 DOWN DOWN DOWN
MENTHAOIL 1 919 901 937 908 926 DOWN UP DOWN
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

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 THE COMPASS
…Direction at a glance

Copper back in positive action

Instrument LTP S1 S2 R1 R2 Bias TRADING STRATEGY

MCX GOLD 62241 60961 59999 62351 63851 Negative Gold prices likely to witness some profit-taking. Intraday Strategy: Sell at
CMP. Targets 60971/59991 with stop at 62351.

MCX SILVER 68825 68201 66833 71001 72651 Negative Silver to underperform Gold. Intraday strategy: Sell at CMP. Targets
68201/66833 with stop at 71001.

Crude Oil prices bounce back. Intraday strategy: Buy at CMP. Targets at
MCX CRUDE OIL 6521 6351 6071 6665 6801 Positive
6665/6801. Stop at 6351.

Copper prices back in positive action. Intraday strategy: Buy at CMP.

MCX COPPER 727.25 711 692 741 758 Positive
Targets at 741/757. Stop at 711.

MCX NATURAL Oversold conditions seen in Natural Gas. Intraday strategy: Buy at CMP.
157.0 133 111 171 188 Positive Targets 171/188 mark. Strict stop at 133.
GAS

USD/INR likely to witness a down move. Interweek Strategy: Sell at CMP.

USD-INR 82.97 82.77 82.41 83.34 84.01 Negative targeting 82.77/82.41 mark. Strict Stop at 83.34.

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 THE NAVIGATOR
…Sailing global trend

Dow likely to consolidate

Instrument LTP S1 S2 R1 R2 Bias TRADING STRATEGY

Gold prices to slide. Interweek Strategy: Sell at CMP. Targets 1991/1969

GOLD (USD) 2043 1991 1971 2049 2071 Negative mark with stop at 2055.

Silver undeperforms Gold. Interweek Strategy: Sell at CMP. Targets

SILVER (USD) 22.64 22.45 21.65 23.45 24.00 Negative 22.45/21.65 mark with stop at 23.45.

WTI CRUDE Crude Oil prices bounce hard. Interweek strategy: Buy at CMP. Targets
78.64 76 73 82 86.00 Positive 82/86 with stop at 76.45.
OIL (USD)

EUR/USD likely to tumble. Interweek Strategy: Sell at CMP. Targets

EUR/USD 1.0840 1.0667 1.0331 1.1157 1.1451 Negative 1.0667/1.0331 with stop at 1.1157

US Dollar Index back in positive action. Interweek Strategy: Buy at CMP.

US Dollar Index 103.85 102.91 100.00 107.00 109.00 Positive Targets 107/109 with stop at 102.91.

Dow witnesses consolidation. Interweek strategy: Establish Buy

DOW JONES 38926 38651 38375 39351 39555 Neutral positions only above 39000. Targets 39201 and then at 39451 with stop at
38750.

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