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Chg. %

SENSEX 30

26025.8

25715.17

1.21%

NIFTY 50

7767.85

7684.2

1.09%

CNX 500

6251.35

6200.3

0.82%

CNX MIDCAP

10995.5

10987.2

0.08%

Global

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NIKKEI

15343.28

15215.71

0.84%

HANGSENG

23782.11

23387.14

1.69%

July 23, 2014

23 July 2014
Markets end higher led by telecom shares

rally in telecom shares and renewed buying interest in Reliance Industries and
HDFC Group shares .

FTSE

Chg. %

6795.34

6728.44

0.99%

NASDAQ

4456.016

4424.704

0.71%

DJIA

17113.54

17051.73

0.36%

Benchmark indices firmed up in late trades to end near their day's highs with amid a

Global risk appetite remained firm as investors shrugged off geopolitical tensions in
Middle East and Ukraine.

RBI unveils tighter regulatory norms for too-big-to-fail banks. Banks whose size
equals 2% of GDP will be designated as systemically important.

RBI has done away with the INR 0.1mn limit on the amount of non -agriculture loan
sanctioned by banks at any point of time against the pledge of gold ornaments.

Market depth

A dvance

Decline

T/O(mn)

NSE

751

806

158221

BSE

1463

1510

30299

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USD/INR

60.2513

60.305

-0.09%

EURO /INR

81.2524

81.5348

-0.35%

Global Macro

UK public sector finances, excluding financial sector interventions, showed a deficit

of GBP 11.368bn in June.

Curr. Spot

JPY/INR
GBP/INR

0.5938

0.5947

-0.15%

102.8197

102.9896

-0.16%

8.689

8.703

-0.16%

G-Sec 10yr

Net Invest
FII s

Chg.%

21-Jul*

(US$mn)

MFs (us$mn)

MTD

68

1568

11485

10

(260)

(1362)

Chg. %

Nif . Losers

4.79

MARUTI

-1.03

RELIANCE

3.24

PNB

-1.01

HDFC

2.86

M&M

-0.98

WIPRO

2.78

LT

-0.98

TCS

2.7

BANKBAROD A

-0.76

Buy(mn)

Sell (mn)

Net (mn)

INDEX FUT

25,382

13,376

12,006

IND.OPTIONS

125,299

127,213

-1 ,915

STOCK FUT

32,896

25,647

7 ,249

ST. O PTIONS

27,321

28,152

-831

Corporate Buzz

Chg. %

A DR

3.3%

TATA MOTO R

2.4%

ICICI BANK

2.3%

WIPRO

0.3%

INFO SYS

1.5%

DR REDDY

3.1%

Asian Paints reported a 23%YoY growth in net profit at INR 3.39bn in the 1QFY15.
Total income from operations grew 18%YoY to INR 33.62bn.

ING Vysya Bank reported an 18.1%YoY drop in net profit at INR 1.43bn in the
1QFY15. Total income grew 3.1%YoY to INR 6.90bn.

Ceat reported a 21.6%YoY fall in consolidated net profit at INR 0.51bn in the
1QFY15. Re venues grew 10%YoY to INR 14.53bn.

Tata Coffee reported a 34%YoY drop in standalone net profit at INR 0.18bn in the
1QFY15. Re venues grew 4%YoY to INR 1.68bn.
Hexaware reported a 21.8%YoY drop in net profit at INR 0.76bn in the 1QFY15.
Revenues grew 13.8%YoY to INR 5.89bn.

Chg.%

HDFC BANK

Axis Bank reported an 18.3%YoY growth in net profit at INR 16.66bn in the 1QFY15.
Total income grew 10.2%YoY to INR 99.80bn.

A DR

US consumer Price Index increased 0.3% in June, with gasoline ac-counting for twothirds of the gain, after May's 0.4% rise

Chg. %

BHARTIARTL

US existing home sales rose 2.6% to an annual rate of 5.04mn units in June, with
the median house price hitting its highest level since 2007.

Nif . Gainers

Euro zone public debt rose to 93.9% of economic output in the 1QCY14,
approaching the peak it is expected to reach later in 2014

CYTD

*NSE as per provisional

FII Deri.

Dish TV reported a standalone net loss of INR 0.16bn in the 1QFY15 as against net
profit at INR 0.31bn in 1QFY14. Net sales declined 1%YoY to INR 6.38bn.

Ma x India is diluting its stake in Max Healthcare in favour of its South African partner
Life Healthcare in an all-cash deal of about INR 7.94bn.

Commodities

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Chg. %

BRENT CRUDE

107.33

107.68

-0.33%

1310.25

1311.50

-0.10%

GOLD $/OZ
CHINA STEEL HRC $/MT

526.00

525.00

0.19%

LME COPPER $/MT

7037.50

7029.75

0.11%

LME ALUM $/MT

2024.75

2003.25

1.07%

CHINA IRON ORE FINES $/MT

95.40

96.00

-0.62%

RICHARD BAY COAL $/MT

73.26

69.72

5.08%

Syndicate Bank plans to raise INR 11bn through qualified institutional placements
(QIPs) by the end of this fiscal.

Exide Industries to likely invest INR 3.5bn in FY15 to increase manufacturing

capacity at its existing plants

Outlook

Benchmark indices are likely to open on a positive note as benign U.S. inflation data
suggested less pressure for the Fed to raise interest rates sooner than expected.

Nifty short-term outlook

Supports / R esi stances

NIFTY

S1

S2

R1

7500

7200

7800

R2
N ew high

Nifty has been on a long term up trend and made a new high of 7808 on 8 th July. However, the index is currently on a decline and is testing
its significant support at 7500 levels. A decisive break of this support could take Nifty towards 7200 levels in the short -term. We anticipate
good buying to emerge from this support level; we maintain our medium and long term bullish stance.

Upcoming Results
Jul 17 2014

Jul 18 2014

Jul 19 2014

Jul 21 2014

Jul 22 2014

Jul 23 2014

Jul 23 2014

Jul 24 2014

Jul 24 2014

Agro Tech Foods

Astral Pol y T ec

CCL Products

Guj Lease Fin

Auto Stampings

ALSTOM India

Liberty Shoes

ACC

Rajshree Sugars

GRUH Finance

CRISIL

Kirloskar Invt

HDFC Bank

Axis Bank

Alstom T&D

Mcleod

Bayer CropScien

Rane Engine

Kokuyo Camlin

Clariant

Motilal Oswal

HDIL

Ceat

Atul

NIIT

Bharti Infratel

SKS Microfin

Mindtree

Greenply Ind

Oberoi Realty

Hind Zinc

Dish TV

Blue Dart

Peac oc k Ind

Biocon

TVS Motor

Rallis India

HIL

Reliance

Hindustan Media

ING Vys ya Bank

Blue Star Info

Polaris Tech

Centur y Enka

Wipro

Sas ken Comm

Info Edge

Hitachi Home

Indian Metals

Cairn Indi a

Williamson Mago

Centur y

SKF India

Idea Cellular

Intl Paper APPM

Coromandel Int

Yes Bank

Gandhi Spl Tube

Surana Ind

Indiabulls Sec

J Kumar Infra

Emco

Glenmar k

Tata Elxsi

Linde India

Orient Paper

Essar Ports

Granules India

Onward T ech

Rane Brake

GIC Housing Fin

Indiabulls Hsg

Somany Ceramics

Tata Coffee

GeeCee Ventures

Mirc Electronic

Supreme Ind

Thermax

Geometric

Omax Autos

Tata Metali ks

Guj Al kali

PI Indus tries

V-Mart Retail

Ingersoll Rand

Pfizer

WABCO India

Kal yani Steels

RPG Life

S1
ACC

S2

PIVOT

R1

R2

Trading guidelines

1479

1464

1489

1504

1514

AMBUJACEM

221

218

223

225

227

ASIANPAINT

594

584

602

612

620

AXISBANK

2006

1987

2021

2039

2054

important price level that decides the intraday trend. Much like how

BAJAJ-AUTO

2067

2055

2076

2088

2097

the door or a w indow hangs by a hinge and sways in the w ind, the

BANKBARO DA

819

808

832

843

856

BHARTIARTL

345

334

351

362

368

BHE L

231

227

235

238

242

BPCL

577

574

584

587

594

CAIRN

340

338

344

346

350

CIPLA

437

434

441

444

448

COALINDIA

382

376

385

392

395

DL F

215

212

217

220

221

2681

2630

2709

2759

2787

438

431

441

449

451

G RASIM

3360

3326

3392

3426

3458

HCLTECH

1508

1483

1521

1545

1558

HD FC

1021

996

1033

1058

1070

832

822

838

848

853

2498

2484

2523

2538

2563

HINDALCO

185

180

187

192

194

HINDUNILVR

631

623

634

642

645

1474

1459

1482

1497

1505

159

156

161

164

167

D RREDDY
GAIL

HD FCBANK
HERO MO TO CO

ICICIBANK
IDFC
INDUSIND BK

This model is based on the premise that the PIVOT is the most

intraday trend also hangs by this PIVOT LEVEL and sw ings

because of the demand-supply, volatility and market sentiments
prevailing in the market. Hence its importance in intraday trading.
Wait for the market price to stabilize after opening in the first 30
minutes of trading.
Opening Price is considered around close of previous day. Avoid
BUYING if prices open abnormally high and avoid selling if prices
open too low.
If the market price is stable above the pivot level after 20-30
minutes of opening, then GO LONG and book profit near the
resistant level (R1 & R2)
If the market price is stable below the pivot level after 20-30
minutes of opening, then GO SHORT and book profit near the
support level (S1 & S2)

552

545

559

566

572

INFY

3219

3184

3233

3267

3281

ITC

351

348

353

355

357

Since you are aware of the 'potential returns' at the time of initiating an

JINDALSTEL

293

290

296

299

303

intraday trade (difference between the entry pric e and profit targets), you

KO TAKBANK

938

925

946

960

967

LT

1629

1607

1657

1679

1706

LUPIN

1088

1073

1097

1112

1121

M &M

1166

1158

1180

1188

1202

MARUTI

2481

2454

2521

2549

2589

MCDO WELL -N

Stop loss

should set up an appropriate STOP LOSS around 1% above / below of the

trade price or a level comfortable to you, to protect yourself if the market
turns and goes against you.

2373

2355

2394

2412

2433

NMDC

172

170

175

178

181

NTPC

149

147

150

151

152

If you have already initiated a trade w ith clear-cut profit targets and a stop

O NGC

407

404

409

411

413

PNB

906

896

921

932

947

loss level, and find during the course of the trading day that the market

PO WE RGRID

134

133

136

138

139

RE LIANCE

1014

991

1024

1046

1057

again: For instance, if your first trade was a LONG trade and the market

SBIN

2498

2478

2523

2543

2569

price drops through the TREND LEV EL to low er pric e levels, then GO

SSLT

295

290

297

301

304

SUNPHARMA

744

739

751

757

763

SHORT and if your first trade was a SHORT trade and the market price

TATAMO TO RS

479

468

484

495

500

TATAPO WE R

103

102

104

105

107

TATASTEEL

556

549

562

569

576

TCS

2491

2437

2516

2569

2594

TECHM

2118

2089

2131

2160

2173

ULTRACEMCO

2503

2486

2518

2535

2551

551

538

556

569

574

WIPRO

Alternate strategy

turns and goes the other way and crosses the TREND LEV EL, then trade

rises through the TREND LEVEL to higher price levels , then GO LONG.
S1, S2 are the immediate support levels.
R1, R2 are the immediate resistance levels.

Cholamandalam Securities Limited

Member: BSE,NSE,MSE
Regd. Office: Dare House,2 (Old) # 234) N.S.C Bose Road, Chennai 600 001.
Website : www.chola wealthd irect.com
Email id [email protected]
CIN U65993TN199 4PLC028674

Chola Securities is a leading southern India based Stock broker. Our focus area of coverage w ithin the Indian market is Mid and small caps w ith a focus on
companies from southern India.
Our Institutional Equities services are carried out in partnership with RCCR, a boutique Investment research and Corporate Advisory firm founded by a
team w ith extensive experience in the Asset management industry.

RESEARCH
Sriniv asan V

Head of Research*

+91-44 - 4505 60 03

sriniv [email protected]

Sathy anaray anan M

Consumption

+91-44 - 3000 73 61

sathy anaray [email protected]

Murug esa S

Engineeri ng & Cement

+91-44 - 3000 73 63

[email protected] pa.com

Michel Charles C

Technicals

+91-44 - 3000 73 53

[email protected]

Rajasekhar R

IT & Auto Ancillary

+91-44 - 3000 73 60

[email protected] ppa.com

Karthikey an P

Macro & Financial Serv ices

+91-44 - 3000 73 44

karthikey [email protected] a.com

Sreedev i K

Associate

+91-44 - 3000 72 66

sreedev [email protected]

Venkat Chidambaram

Head of FII Business & Corporate Finance*

+91-44 - 2447 3310

v [email protected]

Lakshmanan T S P

Chennai

+91 - 9840019 701

[email protected]

Santosh Kumar Sharma

Mumbai

+022 - 226172 10

[email protected]

Nikesh

AHMEDABAD

079 3000296 8 / 69

[email protected] a.com

Sathy anaray ana N

Muthiah A N

BANGLORE
CHENNAI - HO

080-2221 1160/61/62/63/64
044 3000 7371

sathy anaray [email protected]

[email protected] appa.com

Baskaran S

CHENNAI - Nungambakkam

044 2824005 2 / 54

[email protected] pa.com

Sarav anan

CHENNAI - Ady ar

044 - 2452 2111 / 2333

sarav [email protected]

A Jaganathan

CHENNAI - Ambattur

044-4202 2155/325 71443

jaganathana @chola.muruga ppa.com

V Kumar
Mane esh Gupta
Sriniv asa Reddy D V

COIMBA TORE
DELHI
HY DERABAD

0422 - 4292041 / 420462 0

011 - 30461161 / 62 / 63
040 - 40126821 / 22

kumarv @chola.murugappa.com
[email protected] appa.com
sriniv asardv @chola.murugappa.com

Sudipta Bhaumik
Riken B Mehta

KOLKA TA
MUMBAI

033 - 44103638 / 39
022 - 22617210 / 7203

[email protected] ppa.com
[email protected] pa.com

Prav in S

MADURAI

0452 - 2601195 / 96

prav [email protected]

Deepak V Kshirsagar

PUNE

020 - 30225432 / 33 /34

deepakv [email protected]

Siv araman G

SALE M

0427-231 3226/404 0226

M N Chandra Sekhar

VIZAG

0891 - 6642718

Balaji H

Compliance

INSTITUTIONAL SALES

RETAIL SALES

siv [email protected]
[email protected] ppa.com

COMPLIANCE
+91-44 - 3000 7370

balajih@ch ola.murugapp a.com

*Employ ees of Business Partner - RCCR

DISCLAIMER:
This report is for private circulation and for the personal information of the authorized r ecipient onl y, and we are not soli citing any action bas ed upon it. This report is not to be c onstrued as an offer t o s ell or
the s olicitation of an offer to buy any s ecurity in any jurisdiction where suc h an offer or s olicitation would be illegal. It does not provide indi viduall y tailor-made investment advice and has been prepared
without regard to any specific investment objecti ves , financial situation, or any particular needs of any of the persons who rec ei ve it.
The res earch analys t who is primarily responsi ble for this report c ertifies that: (1) all of the views express ed in this report accuratel y reflec t his or her personal opinions about any and all of the s ubject
securities or iss uers; and (2) no part of any of the res earch anal ysts c ompensation was , is, or will be direc tly or indirectl y related to the specific recommendations or views express ed i n this r eport. This report
has been prepared on the basis of infor mati on that is already available in publicl y accessi ble media or devel oped through anal ysis of Cholamandal am Securities Li mited makes every effort to use reliabl e,
comprehensi ve infor mati on, but we make no representation that it is accurate or compl ete.
The views expressed are thos e of the anal yst and the Company may or may not subscribe to all the views express ed therein C hol amandalam Securities Li mited res erves the right to make modifications and
alterations to this s tatements as may be required from time to time without any prior approval. Cholamandalam Securities Limited, its affiliates, directors and employees may from ti me to time, effect or have
effec t an own acc ount transac tion i n or deal as agent in or for the s ecurities mentioned in this report. The recipient s houl d take this into account before interpreting the repor t.
All investors may not find the securities disc ussed in this report to be suitable. Cholamandal am Securities Li mited recommends that investors independentl y eval uate particul ar investments and strategies.
Investors should seek the advice of a financial advisor with regard to the appropriateness of investing in any sec urities / i nvestment s trategies r ecommended in this report. The appropriateness of a particular
investment or s trateg y will depend on an investors indi vidual preference. Past performance is not nec essar y a guide to future performance. Esti mates of future prospects are based on assumptions that may
not be r ealized. Re- publication or redistribution in any for m, in whole or in part, is prohibited.
No part of this material may be duplicated in any for m and/or redistributed without Cholamandalam Securities Limited prior wr itten c ons ent .
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