MARKET LENS 12077 Intraday Pic ASIANPAINTS Resistance 12319 Intraday Pick TATAMOTORS 12374 Intraday Pick UPL
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Institutional Equity Research NIFTY 12264 IN FOCUS November 09, 2020 Support 12170 Stock in Focus Engineers India MARKET LENS 12077 Intraday Pic ASIANPAINTS Resistance 12319 Intraday Pick TATAMOTORS 12374 Intraday Pick UPL EQUITY INDICES Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 41,893 553 1.3% 3.4% 1.6% CNX Nifty 12,264 143 1.2% 2.9% 0.8% S&P CNX 500 10,034 98 1.0% 2.9% 1.6% SENSEX 50 12,846 149 1.2% 2.7% 0.9% International Last Trade Change 1-D 1-Mth YTD DJIA 28,323 (67) (0.2%) (0.9%) (0.8%) NASDAQ 11,895 4 0.0% 2.7% 32.6% NIKKEI 24,786 461 1.9% 4.9% 4.8% HANGSENG 25,713 17 0.1% 6.6% (8.8%) ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 66.7 (0.9) (1.3%) (4.8%) 64.4% Tata Motors (ADR) 9.5 (0.0) (0.1%) (0.9%) (26.6%) STOCK IN FOCUS Infosys (ADR) 14.9 (0.1) (0.5%) (1.8%) 44.7% f Engineers India (ENGR), a Navratna public sector undertaking (PSU), ICICI Bank (ADR) 12.1 0.0 0.3% 9.9% (19.6%) has emerged as a market leader in Indian hydrocarbon space with HDFC Bank (ADR) 63.5 1.1 1.8% 12.9% 0.1% strong expertise in designing, engineering and implementation. Axis Bank (GDR) 37.2 0.8 2.2% 13.6% (29.9%) Reliance Ind (GDR) 55.5 0.7 1.3% (9.0%) 30.4% f It has built 20 out of 23 refineries in India, while it is the market leader in petrochemical space by establishing 10 out of 11 mega complexes. COMMODITY MARKET f Its current order book, which stands at Rs95.5bn (3x of FY20 revenue), Key Commodities Last Trade Change 1-D 1-Mth YTD provides promising revenue visibility for next couple of years. Brent Crude ($/bl) 40.5 0.8 2.1% (5.4%) (38.6%) f We believe strong track record in consultancy of complex and high- Silver ($/Oz) 25.9 0.2 0.7% 2.9% 42.9% value projects, debt-free status, negative working capital cycle and Gold ($/Oz) 1,958.2 6.5 0.2% 1.6% 26.2% beneficiary of large government projects put ENGR in a sweet spot. Copper LME ($/MT) 3.2 0.0 0.7% 3.0% 12.9% Aluminium LME ($/MT) 1,917.8 17.8 0.9% 3.9% 7.2% f ENGR has healthy cash to the tune of Rs26bn on book, out of which Rs1bn is cash advances from the clients, and the balance Rs25bn is accrued cash (63% of market capitalization). CURRENCY RATES f Immense sectoral growth potential, huge capex in hydrocarbon Last Trade Change 1-D 1-Mth YTD space, asset-light business model, foray into newer segments, and USD/INR 74.3 0.04 0.1% 1.4% 3.8% debt-free balance-sheet augur well for the company. We maintain EUR/INR 88.1 0.47 0.5% 1.9% 9.7% BUY on ENGR with a 2-Year Target Price of Rs100. RATES Last Trade Change 1-D 1-Mth YTD Intraday Picks T-Bill - 91 D 3.2 (0.05) 0.00 (0.04) (0.37) 10 Year G-sec Yield 5.9 0.01 0.00 (0.01) 0.00 ASIANPAINTS (PREVIOUS CLOSE: 2205) SELL For today’s trade, short position can be initiated in the range of Rs INVESTMENT ACTIVITY (RS. CR) 2220-2240 for the target of Rs.2170 with a strict stop loss of Rs 2265. Category BUY SELL NET Prev FII 9,450.3 4,580.4 4,869.9 5,368.3 TATAMOTORS (PREVIOUS CLOSE: 139) BUY DII 2,951.0 5,889.6 (2,938.7) (2,208.2) For today’s trade, long position can be initiated in the range of Rs 135- EXCHANGE TURNOVER 137 for the target of Rs.144 with a strict stop loss of Rs 133. Exchange Rs Crore UPL (PREVIOUS CLOSE: 423) BUY BSE Equity 3,086.4 For today’s trade, long position can be initiated in the range of Rs 417-421 BSE Derivatives 2,25,903.1 NSE Equity 59,429.6 for the target of Rs.432 with a strict stop loss of Rs 412. NSE Derivatives 14,51,060.0 1 Institutional Equity Research NIFTY 12264 IN FOCUS November 09, 2020 Support 12170 Stock in Focus Engineers India MARKET LENS 12077 Intraday Pic ASIANPAINTS Resistance 12319 Intraday Pick TATAMOTORS 12374 Intraday Pick UPL Technical Research MARKET SYNOPSIS f On Friday, NSE-NIFTY remained sideways post a stable start and later rose to 12,280 level utilizing prior consolidation. Finally, the index closed the day with the jump of 143 points at 12,264 mark. f NSE Cash segment reported turnover of Rs 59,430 crore as compared to Rs 55,842 crore reported earlier. f Overall market breadth remained positive for straight fourth trading session in a row, where 1130 stocks advanced against 718 declined stocks. f Positive trend was observed across sectoral indices during the day barring FMCG and Pharma (declined by 0.1% and 0.7%). Financial Service and Private Bank indices emerged as top gainers with the increase of 1.9% and 2.1%, respectively. NSE-NIFTY OUTLOOK f In the last week, NSE-NIFTY remained in positive trajectory and rose to 9-month high. The index reported rise of 5.3% on back of strength across the board and also, due to substantial buying by FII. On Friday, the index continued prior daily rising trend and regained 12,250 mark. Overall market breadth remained positive for straight fourth trading session in a row. Its key technical indicators are positively poised. That could take the index towards 12,430 and 12,800 levels. On the lower side, the index will supports at 11,830 and 11,610 levels, where its 20-day and 50-day EMAs are placed. f As for the day, support is placed at around 12,055 and then at 11,990 levels, while resistance is observed at 12,158 and then at 12,197 levels. 2 Institutional Equity Research NIFTY 12264 IN FOCUS November 09, 2020 Support 12170 Stock in Focus Engineers India MARKET LENS 12077 Intraday Pic ASIANPAINTS Resistance 12319 Intraday Pick TATAMOTORS 12374 Intraday Pick UPL 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 143 points at 12,263 levels. Among the nifty stocks 29 advanced and 21 declined during the day. f Among sectors except for Pharma & FMCG to end negative by 0.5% average there was strong up move in Banks and Realty to gain by 1.5% average while other sectors gained by 0.5% over for the day. f Broader market indices remained positive with NIFTY 100,200 and 500 to close up by 1.1% average while midcap indices and small cap indices gained by 0.6% for the day. f Nifty Nov futures end with 2 points discount at 12,261 mark while on other hand, Bank Nifty Nov futures ended with the discount of 50 points at 26,749 mark. f Nifty has closed up 5% from last expiry with strong up move; we expect to scale a new high and momentum in midcaps and small caps. On the downside now 11,900 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 INDIABULLS HSG FIN LTD 152.35 5.32% 168.12% 7.69% 146 151 157 GODREJ PROPERTIES LTD 951.35 4.30% -3.04% -0.65% 923 943 971 RBL BANK LIMITED 193.25 4.01% 227.25% 20.61% 186 192 199 MOTHERSON SUMI SYSTEMS LT 117.05 4.00% 88.86% 14.16% 113 115 120 APOLLO TYRES LTD 153.45 3.82% 1.57% -11.54% 148 153 158 TOP 5 PRICE LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance CONTAINER CORP OF IND LTD 378.05 -7.18% 663.29% 79.59% 367 383 394 AMBUJA CEMENTS LTD 248.00 -3.03% -29.90% -0.90% 244 251 254 ACC LIMITED 1654.20 -2.66% 6.99% 6.26% 1635 1669 1688 MARUTI SUZUKI INDIA LTD. 6907.60 -2.61% 63.47% 20.41% 6820 6978 7065 CADILA HEALTHCARE LIMITED 432.30 -2.39% -20.43% 7.69% 427 436 441 TOP 5 OI GAINERS Stock NameLTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance CONTAINER CORP OF IND LTD 378.05 -7.18% 663.29% 79.59% 367 383 394 VOLTAS LTD 753.35 1.59% 124.37% 27.30% 735 752 770 CIPLA LTD 789.95 -0.45% 16.66% 23.84% 784 793 799 RBL BANK LIMITED 193.25 4.01% 227.25% 20.61% 186 192 199 MARUTI SUZUKI INDIA LTD. 6907.60 -2.61% 63.47% 20.41% 6820 6978 7065 TOP 5 OI LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance APOLLO TYRES LTD 153.45 3.82% 1.57% -11.54% 148 153 158 STEEL AUTHORITY OF INDIA 37.95 -0.78% -51.00% -11.11% 37 38 39 RELIANCE INDUSTRIES LTD 2029.15 3.79% 79.21% -8.61% 1992 2016 2053 TORRENT POWER LTD 322.25 1.85% 268.05% -6.20% 309 317 330 UNITED SPIRITS LIMITED 544.20 1.92% -50.78% -5.44% 534 544 554 3 Institutional Equity Research NIFTY 12264 IN FOCUS November 09, 2020 Support 12170 Stock in Focus Engineers India MARKET LENS 12077 Intraday Pic ASIANPAINTS Resistance 12319 Intraday Pick TATAMOTORS 12374 Intraday Pick UPL Derivatives Snapshot TOP 5 “RISE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance CONTAINER CORP OF IND LTD 378.05 -7.18% 663.29% 409.02% 367 383 394 BATA INDIA LTD 1339.75 0.37% 172.16% 389.70% 1330 1345 1355 TORRENT PHARMACEUTICALS L 2556.50 -1.84% 53.04% 237.42% 2528 2572 2601 CUMMINS INDIA LTD 456.05 0.37% 130.72% 180.77% 449 456 462 BOSCH LIMITED 11862.75 -1.17% 135.48% 130.27% 11470 11992 12385 TOP 5 “DECLINE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance MAX FINANCIAL SERV LTD 621.15 0.32% -66.10% -83.95% 611 618 627 NATIONAL ALUMINIUM CO LTD 32.65 0.46% -71.81% -75.12% 32 33 33 HINDUSTAN PETROLEUM CORP 205.35 0.05% -78.74% -74.98% 203 205 208 ADANI PORT & SEZ LTD 371.10 0.66% -56.92% -73.51% 366 371 376 ZEE ENTERTAINMENT ENT LTD 193.10 1.36% -30.40% -70.83% 191 193 195 SECTORAL ACTIVITY Value Average of OI Average of Price Total Average of Total OI Change % Change % Volume Volume Change % AUTO 343535310 6.04% 1.01% 154586787 44.28% BANKS 1167214025 4.74% 1.64% 367574748 19.85% CAPGOODS 200428398 16.74% -1.46% 61338339 131.27% CEMENT 46346650 1.44% -1.60% 11763960 -30.17% FINANCE 349668567 5.91% 1.40% 130903947 34.35% FMCG 308053880 2.27% 0.50% 69407777