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Morning Moves Morning Moves Research Desk –Stock Broking 04th April 2016 Global Indices Market Market Watch Global Indices (Close) (Pts) Chg (%) SGX Nifty 7,765.50 20.00 0.26 PGCIL commissions Rs 30,300 cr transmission projects in FY16 Dow Jones 17792.75 107.66 0.61 Den Networks to sell 55% stake in Den Sports for Rs 43.32 cr NASDAQ 4914.54 44.69 0.92 JSW Steel achieves record steel production of 1.27 MT in Mar S&P 500 2072.78 13.04 0.63 FTSE 100 6146.05 -28.85 -0.47 ICICI Bank sells part stake in insurance firms for Rs 2200 cr Nikkei 225* 16,165.19 1.03 0.01 Tata Motors sales rise 1% to 53,057 units in March Hang Seng* 20,498.92 -277.78 -1.34 CCI rejects complaint against Britannia Industries Source: Bloomberg, leading business web *(as of 7:30 am) IST 80137827 Prestige buys 49% stake in office project for Rs 57 cr Sectoral Gainers/Losers Ind-Ra downgrades Shree Renuka Sugar NCD programme Sector (Close) (Pts) Chg(%) S&P BSE REALTY 1264.84 36.49 2.97 S&P BSE CG 13020.8 159.47 1.24 Source: Bloomberg, leading business web *(as of 7:30 am) IST S&P BSE TELECOM 1259.41 -31.01 -2.40 Market View S&P BSE O&G 9047.79 -113.82 -1.24 Source: BSE India CD :CONSUMER DURABLES Nifty: Top Gainers & Losers Gainers %Chg Losers %Chg BANKBARODA 3.98 BOSCHLTD -4.26 ITC 2.36 BHARTIARTL -4.23 ACC 2.32 TECHM -2.72 BHEL 1.89 IDEA -2.68 LT 1.7 TCS -2.47 Source: NSE India | Bloomberg Institutional Activity Market likely to be volatile, buy above 7750: Markets ended on a flat note Net Cash Market Futures (FIIs) Net Value taking a break after four weeks of spectacular rally in which Nifty moved by 952 Value points. In the week of March derivative expiry, Nifty lost 3.45 points i.e., 0.04% to FII 214.01 Index -386.84 close at 7713.05 and Sensex lost 67.92 points i.e., 0.27% to close at 25269.64. DII -519.91 Stock -441.63 Overall breadth of market remained positive, where Realty, Banking and FMCG outperformed the market, whereas Pharma and Metal stocks remained Source: NSE India | Value (Rs in Crs) underperformers during the week. While domestic markets closed on a flat note, global markets were mixed with US markets gaining on Janet Yellen’s comments and strong economic data and rest of the world markets ending in red on falling Intra-day Recommendations crude oil prices amid Saudi’s stand to not to freeze the oil production. Technically, Scrip Code Act Entry SL TGT Nifty is well placed above its 21, 50 & 100-DEMA, and facing resistance at 200- DEMA which is currently placed near 7774 levels. Today markets are likely to be JETAIRWAYS L 567-568 554 589 volatile ahead of RBI credit policy and it will dictate the near term trend. Therefore, OIL L 315-316 312 322 we recommend traders to buy Nifty sustains above 7750 levels, for the upside target of 7800-7820 levels keeping stop loss below 7700 mark. ICICIBANK L 237-238 232 247 PCJEWELLER S BLW 352 362 337 Nifty Option: Buy Nifty Apr 7800 CE ABV110 | SL: 80 | TGT: 150-160 | TF: DRREDDY S BLW 2965 3026 2873 Intraday Note: Act=Action: Entry=Entry; SL=Stop loss; Tgt=Target; L= Long; S= Short, Morning Moves 04th April 2016 DERIVATIVES INSIGHT Nifty Tracker Nifty Dynamics Particulars (Close) (Previous) Chg (%) Nifty April future is trading at a premium of 35.70 points as compared to a 7713.05 7738.40 -0.33 Nifty Spot premium of 46 points in the previous trading session. While, BANKNIFTY 7748.75 7784.40 -0.46 Nifty Near Fut. April futures is trading at a premium of 78.25 as compared to premium of 105.35 points. 1.85 1.89 -1.89 Nifty Near Fut. OI On the options front, Nifty April 7500 PE added 13.19 lakh shares in open 6.26 7.75 -1.49 Nifty COC % interest whereas Nifty April 8000 CE added 13.86 lakh shares in open 1.13 0.97 15.89 Nifty PCR Vol interest. However, Nifty April 7500 PE has highest open interest to the tune of 44.24 lakh shares while Nifty April 8000 CE has open interest of 0.90 0.83 7.64 Nifty PCR OI more than 55.84 lakh shares. 16174.90 16141.65 0.21 Bank Nifty Spot Nifty put options witnessed added of 108 lakh shares in open interest, 16253.15 16247.00 0.04 Bank Nifty Fut. while Nifty call options witnessed added of 95 lakh shares in open interest. India VIX ended at 17.27 from 16.80 while Nifty historical volatility 0.17 0.16 4.83 Bank Nifty Fut. OI decreased to 20.70% from 21.36%. 6.54 8.51 -1.97 Bank Nifty COC % Nifty call options average Implied Volatility (IV) decreased to 16.88% from 16.92% and Nifty Put options average Implied Volatility (IV) increased to Market OI (Rs. cr.) 147029 237312 15.55 17.18% from 16.27% with market OI at Rs. 1,47,029 crore. India VIX 17.27 16.80 4.41 Source: Bloomberg, leading business newspapers & websites Positional Recommendations Options Activity (Near Month) OPEN INT BANKBARODA APRIL Future: Buy @ 152 for the targets of 162-163 with 60 a SL of 145 (SPOT): BANKBARODA April Futures witnessed addition of longs 50 Call Put in the last trading session with increase in the stock price and increase in OI. 40 The stock futures has gained nearly 4% and OI has increased by 3% taking 30 the total OI in current series to 4,51,82, 500. Even on the technical front, the 20 stock has given small consolidation break out. Hence, one may go long in the x 100000 x 10 counter at 152 levels for short term with a stop below 145. 0 LUPIN April Future: Sell @ 1475 for targets of 1400 with a SL of 1510 7400 7500 7600 7700 7800 7900 8000 (SPOT): LUPIN April Futures witnessed long unwinding in the last trading session with decrease in the stock price and decrease in OI. On the technical front, the stock has formed lower highs and lower lows on daily charts and is OI CHG also sustaining well below its all major short term moving averages. Hence, 20 one may go short in the counter at 1475 levels for short term with a stop of Call Put 1510. 10 AMBUJACEM APRIL 240 CE: Buy @ 6.30 with SL of 3 for targets of 11-12. AMBUJACEM April 240 strike call option has open interest of 1, 13,400 shares x 100000 x 0 and seen addition of 2,100 shares in the last trading session with IV’s at 28.43%. Technically, the stock is in the cycle of higher highs and higher lows 7400 7500 7600 7700 7800 7900 8000 -10 and also trading well above short term major moving averages. Hence, we recommend traders to buy stock’s 240 call option with stop 3 level. Hybrid Strategy Hybrid Strategy Payoff 50000 SHORT STRANGLE IN TVSMOTOR: 0 TVSMOTOR April 340 CE has witnessed addition of 46,000 shares making a total open Interest of 1, 34,000 during previous trading session. TVSMOTOR 260 280 300 320 340 360 380 400 420 240 April 310 PE witnessed addition of 26,000 shares during previous session -50000 making a total OI of 40,000 shares. We recommend building a Short Strangle in the stock. -100000 Sell one lot of TVSMOTOR APRIL 340 CE @ 8.50, Sell one lot of -150000 TVSMOTOR April 310 PE @ 7.50; Max Gain: 32000; Max Loss: Unlimited beyond BEP’s; LBEP:294; UBEP: 356 Source: NSE India | Value (Rs in Crs) Morning Moves 04th April 2016 PIVOT TABLE SYMBOL CMP S2 S1 PIVOT R1 R2 SENSEX 25269.64 25012.39 25141.01 25247.98 25376.60 25483.57 NIFTY 7713.05 7632.38 7672.72 7706.43 7746.77 7780.48 NIFTYBANK 16174.90 15928.57 16051.73 16143.77 16266.93 16358.97 AXISBANK 449.90 435.37 442.63 447.32 454.58 459.27 BAJAJ-AUTO 2419.85 2359.02 2389.43 2408.42 2438.83 2457.82 BHARTIARTL 335.45 321.28 328.37 339.28 346.37 357.28 BHEL 116.45 109.48 112.97 116.83 120.32 124.18 CIPLA 514.55 506.65 510.60 513.95 517.90 521.25 COALINDIA 287.00 280.70 283.85 288.80 291.95 296.90 DRREDDY 2979.95 2929.42 2954.68 2990.42 3015.68 3051.42 GAIL 347.70 340.50 344.10 349.90 353.50 359.30 HDFC 1113.40 1082.27 1097.83 1107.82 1123.38 1133.37 HDFCBANK 1064.45 1046.28 1055.37 1065.88 1074.97 1085.48 HEROMOTOCO 2951.05 2901.38 2926.22 2947.83 2972.67 2994.28 HINDALCO 86.65 85.18 85.92 86.78 87.52 88.38 HINDUNILVR 867.80 847.33 857.57 866.23 876.47 885.13 ICICIBANK 238.30 230.07 234.18 236.82 240.93 243.57 INFY 1220.15 1220.08 1220.12 1220.18 1220.22 1220.28 ITC 336.05 321.48 328.77 332.78 340.07 344.08 LT 1237.90 1196.43 1217.17 1232.73 1253.47 1269.03 M&M 1195.20 1177.47 1186.33 1196.87 1205.73 1216.27 MARUTI 3723.20 3640.43 3681.82 3723.38 3764.77 3806.33 NTPC 129.95 127.05 128.50 129.75 131.20 132.45 ONGC 208.80 203.77 206.28 210.62 213.13 217.47 RELIANCE 1034.45 1013.95 1024.20 1035.25 1045.50 1056.55 SBIN 195.65 189.72 192.68 194.97 197.93 200.22 SUNPHARMA 815.10 801.57 808.33 816.17 822.93 830.77 TATAMOTORS 379.65 372.55 376.10 381.25 384.80 389.95 TATAPOWER 65.20 62.93 64.07 64.78 65.92 66.63 TATASTEEL 317.75 310.48 314.12 316.98 320.62 323.48 TCS 2453.90 2382.87 2418.38 2469.62 2505.13 2556.37 VEDL 90.05 85.68 87.87 89.73 91.92 93.78 WIPRO 562.15 548.65 555.40 563.95 570.70 579.25 Corporate Actions Company Series Ex-Date Record Date Purpose INDNIPPON EQ 6-APR-16 7-APR-16 INTERIM DIVIDEND - RS 5/- PER SHARE CENTUM EQ 6-APR-16 7-APR-16 INTERIM DIVIDEND - RS 2/- PER SHARE HINDZINC EQ 6-APR-16 7-APR-16 INTERIM DIVIDEND VIVIMEDLAB EQ 6-APR-16 8-APR-16 FACE VALUE SPLIT (1:5) COLPAL EQ 6-APR-16 7-APR-16 INTERIM DIVIDEND - RS 3/- PER SHARE Page 1: FII= Foreign institutional investor, DII= Domestic institutional investor.| Page 2:Fut=Futures; COC=Cost of Carry; PCR = Put Call Ratio; Vol = Volume; OI = Open Interest; VIX = Volatility Index | Page 3:Pivot Point: Intra-day trading tool that applies stop loss based on NSE prices.| Pivot Point: This is a trigger point for intra-day buy/sell based on the price range of the previous day, based on NSE prices.| R1 (Resistance 1): First resistance over pivot point; R2 (Resistance 2): Second resistance over R1.| S1 (Support 1): First support below pivot point; S2 (Support 2): Second support below S1.| As per the tool, the trader should take a BUY position just above the pivot point; the stop loss should be kept at the pivot point and the first target would be R1.
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