Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 43,953 315 0.7% 8.7% 6.5% CNX Nifty 12,874 94 0.7% 8.4% 5.8% S&P CNX 500 10,524 84 0.8% 8.4% 6.6% SENSEX 50 13,474 91 0.7% 8.2% 5.8%

International Last Trade Change 1-D 1-Mth YTD DJIA 29,783 (167) (0.6%) 5.6% 4.4% NASDAQ 11,899 (25) (0.2%) 3.7% 32.6% NIKKEI 25,821 (194) (0.7%) 9.1% 9.2% HANGSENG 26,385 (30) (0.1%) 7.6% (6.4%)

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 63.3 (0.6) (0.9%) (6.8%) 56.1% Tata Motors (ADR) 10.9 0.4 3.9% 26.6% (15.7%) STOCK IN FOCUS Infosys (ADR) 15.3 (0.2) (1.2%) 0.9% 48.1% f Mangalam Cement (MGC) is expected to witness healthy traction ICICI Bank (ADR) 13.4 (0.0) (0.2%) 19.0% (11.0%) in subsequent period led by improved demand outlook and pricing HDFC Bank (ADR) 68.7 (0.0) (0.1%) 19.7% 8.4% scenario. (GDR) 42.3 1.2 2.9% 21.9% (20.4%) Reliance Ind (GDR) 54.1 (0.6) (1.1%) (9.8%) 27.1% f MGC is in the process of adding 0.3mt clinker to its existing Kiln-1 at Morak through debottlenecking (expected to complete by end COMMODITY MARKET of FY21), this was much needed for the company to ensure higher Key Commodities Last Trade Change 1-D 1-Mth YTD volume. Brent Crude ($/bl) 43.5 (0.3) (0.7%) 2.0% (34.1%) Silver ($/Oz) 24.4 (0.2) (0.9%) (1.1%) 35.0% f MGC has already commissioned the remaining 5.85MW of its 11MW Gold ($/Oz) 1,876.8 (8.4) (0.4%) (1.8%) 21.1% WHRS unit at Morak, which is expected to save ~Rs250mn annually Copper LME ($/MT) 3.2 (0.0) (0.4%) 3.5% 13.5% at 100% utilization level. Aluminium LME ($/MT) 1,975.5 (5.5) (0.3%) 7.3% 10.4%

f Improving operating synergy and healthy market mix along with CURRENCY RATES impact of newly commissioned WHRS and higher PPC production are Last Trade Change 1-D 1-Mth YTD expected to ensure sustainably strong operating performance. USD/INR 74.5 (0.13) (0.2%) 1.6% 4.2% EUR/INR 88.5 0.24 0.3% 2.5% 10.1% f We have BUY recommendation on the stock with 2-Year Target Price of Rs295. RATES Last Trade Change 1-D 1-Mth YTD T-Bill - 91 D 3.1 0.00 0.00 (0.03) (0.38) Intraday Picks 10 Year G-sec Yield 5.9 (0.00) 0.00 (0.01) 0.00 BERGEPAINT (PREVIOUS CLOSE: 647) SELL INVESTMENT ACTIVITY (RS. CR) For today’s trade, short position can be initiated in the range of Rs 653- Category BUY SELL NET Prev 657 for the target of Rs. 638 with a strict stop loss of Rs 666. FII 14,689.9 9,784.5 4,905.4 (78.53) DII 3,076.2 6,905.4 (3,829.2) (20.27) LICHSGFIN (PREVIOUS CLOSE: 315) SELL EXCHANGE TURNOVER For today’s trade, short position can be initiated in the range of Rs 320- 323 for the target of Rs. 308 with a strict stop loss of Rs 326. Exchange Rs Crore BSE Equity 4,178.0 MCDOWELL-N (PREVIOUS CLOSE: 560) BUY BSE Derivatives 1,57,997.9 For today’s trade, long position can be initiated in the range of Rs 553- NSE Equity 67,324.7 557 for the target of Rs.570 with a strict stop loss of Rs 547. NSE Derivatives 19,18,919.6 1 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

Technical Research

MARKET SYNOPSIS f On Tuesday, NSE-NIFTY recorded new life-time-high of 12,934 level post a gap-up opening. Later higher level profit booking dragged the index down quite swiftly. In the second half, the index found support around 12,800 mark and bounced thereafter. Finally, the index ended the day at 12,874 level, with the gain of 94 points. f NSE Cash segment reported turnover of Rs 67,325 crore. f Overall market breadth remained positive, where 1058 advanced against 856 declined stocks. f Mix trend was observed across sectoral indices during the day, where rate sensitive sector indices emerged as top gainers with the increase of 1.7% and 2.2%. However Media index reported the highest decline (i.e. 1.3%).

NSE-NIFTY OUTLOOK f NSE-NIFTY surpassed its near-term hurdle of 12,800 level continuing its daily rising trend. Yesterday, the index closed on life-time-high for straight second trading session in a row. Its key technical indicators are in buy mode and overall market breadth remained in favour of bulls. FII remained net buyer consistently throughout this month. As mentioned earlier, our bullish view will remain intact, we believe that NIFTY could test 13,200 level. On the lower side, initially the index will find supports at 12,600 mark. f As for the day, support is placed at around 12,803 and then at 12,732 levels, while resistance is observed at 12,940 and then at 13,005 levels.

2 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

Derivatives Snapshot f NIFTY50 opened higher on back of positive global cues and closed near the high point of the day. Nifty closed up by 94 points at 12,874 levels. Among the nifty stocks 30 advanced and 19 declined during the day. f Among sectors it was a mixed bag with Banks, Metals and Realty to gain by 2% average while Media, Pharma and IT declined by 1.3%, 0.7% and 0.3% for the day. f Broader market indices remained positive with NIFTY 100,200 and 500 to close up by 0.7% average while midcap indices and small cap indices gained by 1.1% for the day. f Nifty Nov futures end with 8 points premium at 12,882 mark while on other hand, Bank Nifty Nov futures ended with the discount of 31 points at 29,152 mark. f Nifty has closed up 10% from last expiry with strong up move; we expect to resist near 13000 levels and witness some profit booking in index pivotal. On the downside now 11,500 will act as strong support from current levels.

Sectoral Activity: Amongst sectoral index, Banks and Realty remained in focus with positive momentum. Stock Activity: HDFC Bank and DLF have witnessed long build up in today’s trade.

TOP 5 PRICE GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance ADANI ENTERPRISES LIMITED 394.30 6.21% 1591.01% 8.43% 376 389 407 TATA STEEL LIMITED 522.70 6.20% 720.23% 9.01% 506 518 535 TATA MOTORS LIMITED 158.00 6.15% 603.39% -12.13% 154 157 161 JINDAL STEEL & POWER LTD 228.85 5.75% 1333.21% -6.14% 220 226 234 HDFC LIFE INS CO LTD 670.05 5.34% 801.82% 13.21% 645 660 684

TOP 5 PRICE LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance BHARAT PETROLEUM CORP LT 394.65 -4.41% 163.50% 7.17% 386 401 409 PIRAMAL ENTERPRISES LTD 1411.00 -3.06% 461.14% -3.20% 1374 1422 1459 HERO MOTOCORP LIMITED 3031.30 -2.71% 870.27% 12.24% 2972 3060 3119 TORRENT PHARMACEUTICALS L 2656.20 -2.63% 1235.66% 0.25% 2617 2678 2718 SUN TV NETWORK LIMITED 416.25 -2.43% 596.49% -4.80% 411 420 426

TOP 5 OI GAINERS Stock NameLTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance CUMMINS LTD 493.00 3.00% 2565.70% 39.07% 482 490 501 ACC LIMITED 1694.80 1.60% 2783.91% 18.40% 1669 1697 1722 TORRENT POWER LTD 307.00 0.74% 1131.11% 15.88% 305 307 309 HDFC LIFE INS CO LTD 670.05 5.34% 801.82% 13.21% 645 660 684 HERO MOTOCORP LIMITED 3031.30 -2.71% 870.27% 12.24% 2972 3060 3119

TOP 5 OI LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance GODREJ PROPERTIES LTD 1033.40 3.05% 914.53% -15.38% 1002 1029 1060 TATA MOTORS LIMITED 158.00 6.15% 603.39% -12.13% 154 157 161 MARUTI SUZUKI INDIA LTD. 6981.45 1.89% 869.68% -9.58% 6897 6947 7031 LIC HOUSING FINANCE LTD 314.70 -0.17% 575.72% -7.23% 311 316 319 MAHANAGAR GAS LTD. 869.90 0.78% 549.70% -6.64% 860 867 877

3 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N Derivatives Snapshot

TOP 5 “RISE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance MAX FINANCIAL SERV LTD 613.25 0.01% 2407.79% 682.21% 604 610 619 INTERGLOBE AVIATION LTD 1643.70 1.78% 1875.48% 408.66% 1596 1633 1681 DIVI’S LABORATORIES LTD 3427.00 -0.52% 1227.21% 384.24% 3385 3437 3480 APOLLO TYRES LTD 173.05 5.10% 1925.60% 380.88% 167 171 177 JINDAL STEEL & POWER LTD 228.85 5.75% 1333.21% 332.55% 220 226 234

TOP 5 “DECLINE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance MAHANAGAR GAS LTD. 869.90 0.78% 549.70% -77.80% 860 867 877 EICHER MOTORS LTD 2541.70 0.05% 102.50% -65.31% 2501 2532 2573 JUBILANT FOODWORKS LTD 2520.65 1.82% 681.35% -60.89% 2476 2505 2550 GRASIM INDUSTRIES LTD 842.90 0.51% 480.50% -57.77% 834 844 852 HSG FIN LTD 180.55 -2.19% 110.91% -51.53% 175 181 186

SECTORAL ACTIVITY Value Average of OI Average of Price Total Average of Total OI Change % Change % Volume Volume Change % AUTO 373301960 0.94% 1.33% 158025836 1065.99% BANKS 1321272000 1.74% 1.82% 323477131 836.02% CAPGOODS 217524136 5.62% 1.05% 33804156 811.84% CEMENT 51309300 4.95% 1.95% 18416516 1571.14% FINANCE 396558329 2.08% 1.08% 101333019 845.24% FMCG 307685100 0.36% 0.49% 44525050 1002.46% IT 82386575 1.88% -0.52% 21066786 927.60% METALS 497106600 0.93% 2.88% 186764156 734.76% OIL-GAS 412374855 1.73% -0.64% 115610765 492.39% OTHERS 272968421 -0.72% 1.28% 54963701 1077.78% POWER 252507300 2.70% -0.01% 91616646 877.41% TELECOM 913308752 0.19% 1.71% 662142820 472.36% Grand Total 5288313803 1.32% 0.93% 1855055757 896.88%

4 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 Nifty 50 12874 12732 12803 12868 12940 13005 ADANI PORT & SEZ LTD 380 357 368 378 389 398 ASIAN PAINTS LIMITED 2188 2157 2172 2197 2212 2237 AXIS BANK LIMITED 629 601 615 623 637 645 BAJAJ AUTO LIMITED 3045 2978 3011 3030 3064 3083 BAJAJ FINSERV LTD. 7365 7185 7275 7341 7432 7498 BAJAJ FINANCE LIMITED 4488 4287 4387 4446 4546 4605 BHARTI AIRTEL LIMITED 485 473 479 487 493 501 BHARAT PETROLEUM CORP LT 395 378 386 401 409 423 BRITANNIA INDUSTRIES LTD 3510 3476 3493 3521 3538 3567 CIPLA LTD 743 725 734 743 752 761 COAL INDIA LTD 129 126 128 128 130 131 DIVI’S LABORATORIES LTD 3427 3342 3385 3437 3480 3532 DR. REDDY’S LABORATORIES 4784 4701 4743 4811 4853 4921 EICHER MOTORS LTD 2542 2459 2501 2532 2573 2605 GAIL (INDIA) LTD 94 92 93 94 95 96 GRASIM INDUSTRIES LTD 843 826 834 844 852 862 HCL TECHNOLOGIES LTD 815 798 807 822 831 846 HDFC LTD 2349 2283 2316 2340 2373 2398 HDFC BANK LTD 1408 1369 1389 1401 1421 1433 HDFC LIFE INS CO LTD 670 621 645 660 684 699 HERO MOTOCORP LIMITED 3031 2913 2972 3060 3119 3207 HINDALCO INDUSTRIES LTD 214 207 210 213 216 219 HINDUSTAN UNILEVER LTD. 2178 2142 2160 2190 2208 2238 ICICI BANK LTD. 486 471 479 486 494 501 INDUSIND BANK LIMITED 784 762 773 783 795 805 INFOSYS LIMITED 1124 1095 1109 1127 1142 1159 INDIAN OIL CORP LTD 85 83 84 85 86 88 ITC LTD 187 185 186 188 189 191 JSW STEEL LIMITED 341 333 337 344 348 355 LTD 1797 1750 1773 1788 1811 1825 LARSEN & TOUBRO LTD. 1081 1044 1062 1080 1098 1115 MAHINDRA & MAHINDRA LTD 637 627 632 639 644 651 MARUTI SUZUKI INDIA LTD. 6981 6813 6897 6947 7031 7081 NESTLE INDIA LIMITED 16983 16754 16869 16967 17081 17180 NTPC LTD 89 86 87 90 91 94 OIL AND NATURAL GAS CORP. 71 70 70 72 73 74 POWER GRID CORP. LTD. 187 184 185 187 189 191 LTD 1993 1921 1957 2021 2057 2121 SBI LIFE INSURANCE CO LTD 863 825 844 855 875 886 STATE 240 227 234 238 244 248 SHREE CEMENT LIMITED 23990 23133 23562 23828 24257 24523 SUN PHARMACEUTICAL IND L 518 509 514 519 523 528 TATA MOTORS LIMITED 158 149 154 157 161 164 TATA STEEL LIMITED 523 489 506 518 535 548 TATA CONSULTANCY SERV LT 2666 2625 2646 2670 2691 2715 LIMITED 845 819 832 844 858 870 TITAN COMPANY LIMITED 1302 1267 1285 1295 1312 1322 ULTRATECH CEMENT LIMITED 4909 4845 4877 4928 4960 5011 UPL LIMITED 430 425 427 431 433 437 WIPRO LTD 349 341 345 348 352 354 5 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 17/11/2020 520123 ABCINDQ AVENUE PROPERTIES PRIVATE LTD B 28,547 44.1 17/11/2020 532762 ACE IIFL RE ORGANIZE INDIA EQUITY FUND - ORGANIZE INDIA EQUITY FUND S 650,000 87.1 17/11/2020 532762 ACE VANTAGE EQUITY FUND B 631,000 87.1 17/11/2020 512493 GARNETINT HEM SECURITIES LIMITED B 110,000 26.1 17/11/2020 512493 GARNETINT BLUE SQUARE CORPORATE SERVICES PRIVATE LIMITED B 136,326 26.1 17/11/2020 512493 GARNETINT BLUE SQUARE CORPORATE SERVICES PRIVATE LIMITED S 136,326 26.1 17/11/2020 512493 GARNETINT HETANSHI PROPERTIES PRIVATE LIMITED S 117,542 26.1 17/11/2020 519463 IBINFO RAJKUMAR SHYAMNARAYAN SINGH B 6,780 10.3 17/11/2020 511551 MONARCH METAPHOR REALTY INVESTMENTS PRIVATE LIMITED S 500,000 29.6 17/11/2020 511551 MONARCH CARE WEALTH ADVISORS LLP B 478,931 29.6 17/11/2020 539673 RCL IDEAL PLYWOOD TRADERS PRIVATE LIMITED B 10,350 14.2 17/11/2020 539673 RCL BISWAJIT TALUKDAR S 9,731 14.1 17/11/2020 539526 SCTL SAIANAND COMMERCIAL LIMITED S 842,000 0.9 17/11/2020 539526 SCTL NITU TRADING COMPANY LIMITED S 1,026,000 0.9 17/11/2020 539026 SSPNFIN DEVJEET CHAKRABORTY S 20,000 37.5 17/11/2020 539026 SSPNFIN RAMESH R VYAS B 20,000 37.5 17/11/2020 532070 SUPRBPA KHUSHBU ARJUNBHAI PADHIYAR B 27,900 10.9 17/11/2020 532070 SUPRBPA KHUSHBU ARJUNBHAI PADHIYAR S 12,900 11.0 17/11/2020 533200 TALWALKARS RASHID AHMED MIRZA B 380,000 2.4 17/11/2020 533200 TALWALKARS YASMIN MIRZA S 375,000 2.4 17/11/2020 532790 TANLA MOBILE TECHSOL PRIVATE LIMITED B 1,710,000 391.3 17/11/2020 532790 TANLA AMANSA INVESTMENTS LIMITED B 4,084,000 391.3 17/11/2020 532790 TANLA AMERICAN FUNDS INSURANCE SERIES A/C INTERNATIONAL FUND B 8,600,000 391.3 17/11/2020 532790 TANLA BANYAN INVESTMENTS LIMITED S 15,000,000 391.3 17/11/2020 505285 TULIVE ATUL GUPTA B 20,100 200.8 17/11/2020 505285 TULIVE ASL CAPITAL HOLDINGS PRIVATE LIMITED S 20,000 200.8

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

Corporate Actions Company Name Ex-Date Purpose Aarti Industries Limited 19-Nov-20 Interim Dividend Amrutanjan Health Care Limited 19-Nov-20 Interim Dividend Asahi Songwon Colors Limited 19-Nov-20 Buyback Coal India Limited 19-Nov-20 Interim Dividend Computer Age Management Services Limited 19-Nov-20 Interim Dividend Cupid Limited 19-Nov-20 Interim Dividend - Re 1 Per Share Hinduja Global Solutions Limited 19-Nov-20 Interim Dividend - Rs 6 Per Share Insecticides (India) Limited 19-Nov-20 Interim Dividend - Rs 2 Per Share Lotus Eye Hospital and Institute Limited 19-Nov-20 Annual General Meeting Maan Aluminium Limited 19-Nov-20 Interim Dividend NCL Industries Limited 19-Nov-20 Interim Dividend - Rs 1.50 Per Share Page Industries Limited 19-Nov-20 Interim Dividend Polyplex Corporation Limited 19-Nov-20 Interim Dividend - Rs 15 Per Share PTC India Limited 19-Nov-20 Interim Dividend - Rs 2 Per Share Sangam (India) Limited 19-Nov-20 Annual General Meeting/Dividend - Re 1 Per Share Solara Active Pharma Sciences Limited 19-Nov-20 Interim Dividend The Mandhana Ventures Limited 19-Nov-20 Annual General Meeting UTI Asset Management Company Limited 19-Nov-20 Dividend - Rs 7 Per Share Vidhi Specialty Food Ingredients Limited 19-Nov-20 Interim Dividend Creative Eye Limited 20-Nov-20 Annual General Meeting EPL Limited 20-Nov-20 Interim Dividend Gabriel India Limited 20-Nov-20 Interim Dividend GOVERNMENT OF INDIA 20-Nov-20 Interest Payment Jindal Worldwide Limited 20-Nov-20 Annual General Meeting Premier Polyfilm Limited 20-Nov-20 Annual General Meeting Sree Rayalaseema Hi-Strength Hypo Limited 20-Nov-20 Annual General Meeting/Dividend - Rs 2.50 Per Share GOVERNMENT OF INDIA 23-Nov-20 Interest Payment Tide Water Oil Company (India) Limited 23-Nov-20 Interim Dividend Venus Remedies Limited 24-Nov-20 Annual General Meeting GOVERNMENT OF INDIA 26-Nov-20 Interest Payment ITI Limited 26-Nov-20 Annual General Meeting GOVERNMENT OF INDIA 27-Nov-20 Interest Payment GOVERNMENT OF INDIA 02-Dec-20 Interest Payment VLS Finance Limited 02-Dec-20 Annual General Meeting/Dividend - Rs 1.50 Per Share GOVERNMENT OF INDIA 03-Dec-20 Interest Payment DiGiSPICE Technologies Limited 07-Dec-20 Annual General Meeting GOVERNMENT OF INDIA 09-Dec-20 Interest Payment Hatsun Agro Product Limited 09-Dec-20 Bonus 1:3 Shah Alloys Limited 09-Dec-20 Annual General Meeting

7 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

Guided Allocation Towards Research Products Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Trading Products Intraday 30 25-30 3-4 stocks Daily Daily Positional Calls/weekly calls/BTST 30 15-20 6-7 stocks Weekly Fortnightly TradEdge 15 25-50 2 stocks Fortnightly Monthly Option Strategies 15 10-20 2 stocks Weekly Weekly Cash 10 Total 100

Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Investment Products Rsec Model Portfolio 25 10 8-10 stocks Monthly Half Yearly Stock In Focus 25 5 1 stock Daily Quarterly Fundamental Calls 25 5 10 Quarterly Yearly Initiating Coverage 20 10 As and When Yearly Cash 5 Total 100

8 Institutional Equity Research NIFTY 12874 IN FOCUS November 18, 2020 Support 12803 Stock in Focus Mangalam Cement MARKET LENS 12732 Intraday Pic BERGEPAINT Resistance 12940 Intraday Pick LICHSGFIN 13005 Intraday Pick MCDOWELL-N

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