12 weekly call

May 11, 2015y ,

Weekly Call

Research AnalystsResearch AnalystsDharmesh Shah [email protected] Kunte, CMT [email protected] Dagha [email protected] Mukherjee [email protected] Parmar [email protected]

Deal Team At Your ServiceWeekly Calls

Adani Ports & SEZ (MUNPOR)

Code MUNPOR

CMP | 335.10

A b ki b itComment

Appears breaking above its triangular consolidation phase.

Action Buy in the range of 325-328

Reco. Date 11th May2015

S l | 309Stop-loss | 309

Targets | 365 / higher

2

Source: ASA, ICICIdirect.com Research


Phoenix Lamps (PHOLAM)

Code PHOLAM

CMP | 120.85

B k W d lik tiComment

Breaks Wedgelike corrective phase with higher volume.



S l | 102Stop-loss | 102


3



UPL (UNIP)

Code UNIP

CMP | 506.55

Sh b f it iComment

Sharp bounce from its previous resistance is a positive sign.



St l | 470Stop-loss | 470


4


Deal Team At Your ServiceTrend Scanner

Positive Trends Candlestick PatternScrip Name Close 50 days EMA 100 days EMA Delivery % 5 days Averge

Shivam Autotech 117.8 89.0 81.0 40.00

DCBBANK 121.4 116.0 111.0 53.00

UPL 506.6 443.0 414.0 41.00

Hindustan Unilever 895.0 892.0 870.0 50.00

Reliance Inds 889.7 876.0 889.0 56.00

Bullish Candlestick Formations Bearish Candlestick Formations

Scrip Name Pattern name LTP Scrip Name Pattern name LTP

Bharti Airtel Piercing Line 398.0 PNB Enguling Bear 145.7

Oberoi Realty Morning Star 305.8 Marico Enguling Bear 369.5

Gillette Morning Star 4535.8 IOB Enguling Bear 40.5

Negative TrendsScrip Name Close 50 days EMA 100 days EMA Delivery % 5 days Averge

Exide Inds 153.4 177.0 176.0 47.00

PNB 145 7 164 0 172 0 22 00

Cyient Hammer 490.4 Fortis Shooting Star 162.8

Tata Motors Hammer 513.7 IOC Enguling Bear 335.4

UPL Continuation 506.6 Exide Inds Continuation 153.4

HCL Tech Engulfing Bull 925.5 Jindal SP Continuation 133.7

Hindustan Uni Continuation 895.2 NTPC Continuation 142.0

Legend

PNB 145.7 164.0 172.0 22.00

Jindal Steel & Power 133.7 156.0 164.0 21.00

Legend

Positive and Negative Trends:

The stocks listed in the positive and negative trends section above have been identified after running multiple technical queries based on combination ofvarious technical parameters applied on a group of NSE cash stocks. The query modules are designed to recognise stocks, which are either at attractivetechnical entry levels based on overall price structure or resolving out of medium term consolidation. Consequently the query modules are also aimed atidentifying the stocks which are under performers or in established down trends and therefore may not be good bets from short to medium term perspective.

Candlestick patterns:

Candlestick formations on weekly time interval charts typically point towards the prevailing sentiment comprising the entire trading week and could prove asan important tool for short term traders. By themselves, the patterns do not carry any price target but only an indication of change in market behaviour. Moreimportance needs to be given to the placement of the pattern within larger trend. A more detailed description of Candlestick patterns and the way tounderstand them is listed at the end of the report

5

Source: Bloomberg, ICICIdirect.com Research

Market Activity

Gl b l M k ts Domestic Sectoral Indices PerformanceGlobal Markets Domestic Sectoral Indices Performance

US2,116.1 19,379.2

5,090.4

Japan

France

57,149.3

0.9%

1.6%Brazil Germany

7,046.8

11,709.72.2%

UK 0.9%

INDICES Current 1Wk 1M 3MSensex 27105.39 0.3 0.3 -5.6Nifty 8191.5 0.1 0.1 -5.4Auto 18369.63 0.2 0.2 -3.6Banking 20389.59 -3.0 -3.0 -5.3Capital goods 16192 78 -2 0 -2 0 -3 2

Global Currencies, Commodities & Bond Yields

China -5.3%

4,205.9

US

Hong Kong-2.0%

27,577.3

0.4%Japan

-0.8%

63 94 95 08

Capital goods 16192.78 2.0 2.0 3.2

Cons durables 9960.11 -4.0 -4.0 -3.7FMCG 7750.07 1.9 1.9 0.0Healthcare 16225.73 0.2 0.2 0.0IT 10579.18 1.6 1.6 0.0Metal 9952.55 1.5 1.5 -2.0Oil & gas 9240.02 0.4 0.4 -8.4

Rupee (|)63.94

Dollar Index95.08

-0.8% -0.2%

Euro1.12

British Pound1.54

-0.3% 1.8%

Japanese Yen 119.85 Swiss Franc 0.93

-0.2% 0.0%

Power 2031.82 -3.0 -3.0 -3.4Realty 1589.28 1.0 1.0 -9.0BSE 500 10663.02 -0.3 -6.4 -4.2BSE midcap 10236.21 -1.7 -1.7 0.0BSE small cap 10829.06 -1.1 -1.1 0.0

* BSE has replaced Heathcare, FMCG, IT , Midcap and Smallcap Indices with new ones. Due tolack of historical data 3 months percentage change is not avaliable for these indices

Nifty Gainers / Losers for the week (%)Copper (tonne)

6,391.50

0.5% -0.3%

Brent Crude/barrel 65.53

Gold/ounce1,189.20

Silver (ounce) 16.4

-1.1% 1.0%

2.13

1.8 bps India 10 year US 10 Year

7.98

11.6 bps

8.95.3 5.1 4.4

-4.8 -5.5 -8.8 -14.1

8 00

0.00

8.00

% C

hang

e

lack of historical data 3 months percentage change is not avaliable for these indices

0.39

3.6 bps EURO 10 Year JPY 10 Year

0.55

17.6 bps -16.00

-8.00

BAJA

J-A

UTO

HIN

DUN

ILVR

HCLT

ECH

BHA

RTIA

RTL

AXI

SBA

NK

NTP

C

PNB

BAN

KBA

RODA

%

6


Deal Team At Your ServiceMarket ActivityInstitutional flow trends of last 12 months

9 8

3340

5064

6957

2

1677 88

0

4309 3940 9244

27000

28000

29000

30000

9000

14000

19000DII FII Sensex

1399

1

1311

0

5430

5103

-117

2

1375

3

2132

1291

1147

6

1207

8

1136

6

-655

3

417 2

5940

7037

559

23000

24000

25000

26000

-6000

-1000

4000

Weekly market breadth trends

June

'14

July

'14

Aug

'14

Sep'

14

Oct'1

4

Nov

'14

Dec'

14

Jan'

15

Feb'

15

Mar

'15

Apr

'15

May

'15

% %% % % % % %

2850328261 27459

2826028879

27459 27438 27011 27105

26500

28000

29500

40%

60%

80%

cent

age

Advance % Decline % Sensex

43%

41%

37% 69

%

62%

49%

42%

49%

51%57

%

59%

63%

31% 38

%

51% 58%

51%

49%

23500

25000

0%

20%

13-Mar-15 20-Mar-15 27-Mar-15 3-Apr-15 10-Apr-15 17-Apr-15 24-Apr-15 1-May-15 8-May-15

Perc

Week Ended

77


Deal Team At Your ServicePrevious Weeks Performance

Date Scrip Product Strategy RP Target SL Gain/Loss % Comment

Nifty Stocks Pivot points for the Week (May 11 15 2015)

p gy g /4-May Bank of India Cash Buy 215.00 236.00 202.00 -6.00 Stoploss Triggered4-May Kitex Garments Cash Buy 806.00 915.00 750.00 Open

Nifty Stocks Pivot points for the Week (May 11 15, 2015)COMPANY CMP PIVOT S1 S2 R1 R2NIFTY 8191.50 8181.43 8007.22 7822.93 8365.72 8539.93

SENSEX 27105.39 27044.36 26485.02 25864.64 27664.74 28224.08

ACC 1448.50 1439.02 1396.03 1343.57 1491.48 1534.47

AMBUJACEM 233.20 232.83 222.67 212.13 243.37 253.53

ASIANPAINT 759.40 759.70 734.55 709.70 784.55 809.70

AXISBANK 540.80 546.70 517.40 494.00 570.10 599.40

BAJAJ-AUTO 2123.05 2068.03 1987.97 1852.88 2203.12 2283.18

BANKBARODA 145.10 153.48 134.32 123.53 164.27 183.43

BHARTIARTL 397.95 392.18 379.37 360.78 410.77 423.58

BHELBHEL 231.35 234.82 220.63 209.92 245.53 259.72

BPCL 748.05 753.60 714.80 681.55 786.85 825.65

CAIRN 206.20 209.97 199.98 193.77 216.18 226.17

CIPLA 654.70 652.07 623.03 591.37 683.73 712.77

COALINDIA 363.70 362.42 353.43 343.17 372.68 381.67

DRREDDY 3350.45 3340.17 3260.33 3170.22 3430.28 3510.12

GAIL 369 10 366 97 359 48 349 87 376 58 384 07GAIL 369.10 366.97 359.48 349.87 376.58 384.07

GRASIM 3493.15 3528.38 3407.77 3322.38 3613.77 3734.38

HCLTECH 925.50 913.35 877.95 830.40 960.90 996.30

HDFC 1185.35 1179.37 1152.98 1120.62 1211.73 1238.12

HDFCBANK 982.00 978.57 947.63 913.27 1012.93 1043.87

HEROMOTOCO 2300.65 2317.25 2234.70 2168.75 2383.20 2465.75

888

Source: NSE India, ICICIdirect.com Research

Nifty Stocks Pivot points for the Week (May 11 15, 2015)

COMPANY CMP PIVOT S1 S2 R1 R2HINDALCO 138.95 136.82 131.63 124.32 144.13 149.32

HINDUNILVR 895.20 882.13 857.22 819.23 920.12 945.03

ICICIBANK 317.00 318.53 299.07 281.13 336.47 355.93

IDEA 170.00 173.37 164.63 159.27 178.73 187.47

IDFC 160.10 160.75 151.65 143.20 169.20 178.30

INDUSINDBK 810.45 815.32 781.13 751.82 844.63 878.82

INFY 1957 95 1957 22 1910 73 1863 52 2004 43 2050 92INFY 1957.95 1957.22 1910.73 1863.52 2004.43 2050.92

ITC 328.00 324.83 318.77 309.53 334.07 340.13

KOTAKBANK 1329.50 1352.13 1269.37 1209.23 1412.27 1495.03

LT 1601.25 1603.28 1541.57 1481.88 1662.97 1724.68

LUPIN 1770.35 1763.72 1697.73 1625.12 1836.33 1902.32

M&M 1180.35 1177.77 1146.58 1112.82 1211.53 1242.72

MARUTI 3610 55 3656 85 3473 70 3336 85 3793 70 3976 85MARUTI 3610.55 3656.85 3473.70 3336.85 3793.70 3976.85

NMDC 131.00 131.60 126.45 121.90 136.15 141.30

NTPC 142.00 145.53 138.02 134.03 149.52 157.03

ONGC 315.50 321.60 300.00 284.50 337.10 358.70

PNB 145.70 152.10 135.90 126.10 161.90 178.10

POWERGRID 140.00 141.57 136.48 132.97 145.08 150.17

RELIANCE 889.70 883.83 865.87 842.03 907.67 925.63

SBIN 261.95 266.53 255.07 248.18 273.42 284.88

SUNPHARMA 940.25 940.10 920.20 900.15 960.15 980.05

TATAMOTORS 513.70 504.10 492.20 470.70 525.60 537.50

TATAPOWER 73.20 73.82 69.93 66.67 77.08 80.97

TATASTEEL 366.70 369.47 354.43 342.17 381.73 396.77

TECHM 621.40 615.43 605.97 590.53 630.87 640.33

TCS 2527.25 2522.98 2457.97 2388.68 2592.27 2657.28

ULTRACEMCO 2698.00 2659.00 2570.00 2442.00 2787.00 2876.00

VEDL 217.95 219.02 208.63 199.32 228.33 238.72

WIPRO 540.50 537.98 527.62 514.73 550.87 561.23

YESBANK 826.10 826.62 787.68 749.27 865.03 903.97

ZEEL 309.45 312.95 304.00 298.55 318.40 327.35

99

Source: NSE India, ICICIdirect.com Research

Deal Team At Your ServiceForthcoming Economic Events Calendar

Date Event

US11-May Mortgage Delinquencies

12-May JOLTS Job Openings

13-May Retail Sales Advance MoM

13-May Business Inventories

14-May PPI Final Demand YoY

14-May Initial Jobless Claims

14-May Continuing Claims

15-May Industrial Production MoM

15-May Capacity Utilization

15-May Manufacturing (SIC) Production

15-May U. of Mich. Sentiment

India12-May Industrial Production YoY

12-May CPI YoY

14-May Wholesale Prices YoYChina

9-May CPI YoY

10-May New Yuan Loans CNY

10-May Money Supply M0 YoY

13-May Retail Sales YoY

13-May Bloomberg GDP Monthly Estimate YoY

UK11-May BOE Asset Purchase Target

11 May Bank of England Bank Rate11-May Bank of England Bank Rate

12-May BRC Sales Like-For-Like YoY

12-May Industrial Production YoY

12-May Manufacturing Production MoM

13-May Jobless Claims Change

13-May Bank of England Inflation Report

101010


Deal Team At Your ServiceNotes

Pl h d i i hi h ib d id d i h Please execute the recommendation within the prescribed range provided in the report

Once the recommendation is executed, it is advisable to keep strict stop loss as provided in the report on closing basis

We adapt a trading strategy of booking 50% profit when the position is in profit by 3-5% and trail stoploss on remaining position to the entry point

In recommendations where it is advised to buy on declines, if the target price is hit before activation of the call in prescribed range then the recommendation is considered not initiated

The recommendations are valid only for the week and are to be squared off by the end of the week. In case we intend to carry forward the position, it will be communicated through separate mail

Trading Portfolio allocation

It is recommended to spread out the trading corpus in a proportionate manner between the various technical research products

Please avoid allocating the entire trading corpus to a single stock or a single product segment

Withi h d t t it i d i bl t ll t l t t h d ti Within each product segment it is advisable to allocate equal amount to each recommendation

For example: The Daily Calls product carries 3 to 4 intraday recommendations. It is advisable to allocate equal amount to eachrecommendation

111111

Deal Team At Your ServiceRecommended Product wise Trading Portfolio allocation

121212

Deal Team At Your ServiceCandlesticks Glossary:

Candlestick patterns describe the market sentiment for the specified period Some of the formations suggest reversal of sentiment (trend) and therefore areCandlestick patterns describe the market sentiment for the specified period. Some of the formations suggest reversal of sentiment (trend) and, therefore, are important for a chart reader. By themselves, the patterns do not carry any price target but only an indication of change in market behaviour. More importance needs to be given to the placement of the pattern within larger trend

Morning Star: Potential bottom reversal pattern made of three candle lines. The first sizeable black candle reflects a market in which the bears are in complete charge. The next candle line--the small real body--shows a slight diminution of the bearish force. The white candle that makes up the last part of the morning star visually displays the bulls are gaining the upper hand. Lowest low amongst three candles becomes technical support

Bullish Engulfing Line: A potential bottom reversal pattern. This pattern typically appears at the culmination of a decline or downtrend. The market falls, and a black candle forms (ideally a small black candle). Next, a white real body wraps around the prior sessions black body. Low of the pattern becomes short term support for prices

Piercing Line: Potential bottom reversal pattern. A black body forms in the downtrend. The market continues moving south on the next sessions open but that session culminates in a white real body that closes (e.g. pierces) than half way or more into the prior black body. Lowest low between two candles is referred to as technical support for pricespp p

Hammer: A candlestick line which, during a downtrend, has a very long lower shadow and small real body (black or white) at the top end of the sessions range. There should be no, or a very small, upper shadow. Pattern suggests buying support during declines and needs confirmation in terms of sustainability of prices above head of the Hammer in following session

Evening Star: Potential Top reversal pattern made of three candle lines. Comparable with a traffic signal. First white candle reflects a market in bullish trend. The next candle line--the small real bodywarns waning momentum. The black candle that completes the evening star visually exhibits that prior up trend has stopped or reversed

Bearish Engulfing Line: Potential top reversal signal. This two candlestick pattern emerges during a rally. A black candle real body wraps around a white real body (classically a small white candle) Highest high between two candles becomes resistance level for prices for future reference

Dark Cloud cover: A dark cloud cover forms a top reversal pattern. The first session should be a strong, white real body. The second sessions price opens over the prior sessions high (or above the prior sessions close). By the end of the second session, it closes near the low of the session and should fall well into the prior sessions white body. Pattern suggests that market has a poor chance of rising immediately

Shooting Star: A single candlestick line during a rally in which there is a small real body (white or black) at the bottom end of the session's range and a very long upper shadow. The candle line should also have little or no lower shadow. Pattern suggest the trouble for prices overhead

131313

Pankaj Pandey Head Research [email protected]

ICICIdirect.com Research Desk,ICICI Securities Limited,1st Floor, Akruti Trade Centre,Road No 7, MIDCAndheri (East)Andheri (East)Mumbai 400 [email protected]

DisclaimerANALYST CERTIFICATION

We /I, Dharmesh Shah, Nitin Kunte, Dipesh Dagha, Pabitro Mukherjee, Vinayak Parmar Research Analysts, authors and the names subscribed toWe /I, Dharmesh Shah, Nitin Kunte, Dipesh Dagha, Pabitro Mukherjee, Vinayak Parmar Research Analysts, authors and the names subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. Terms & conditions and other disclosures:ICICI Securities Limited (ICICI Securities) is a full-service, integrated investment banking and is, inter alia, engaged in the business of stock brokering and distribution of financial products. ICICI Securities is a wholly-owned subsidiary of ICICI Bank which is Indias largest private sector b k d h i i b idi i d i b i f h i fi lif i l ibank and has its various subsidiaries engaged in businesses of housing finance, asset management, life insurance, general insurance, venture capital fund management, etc. (associates), the details in respect of which are available on www.icicibank.com.ICICI Securities is one of the leading merchant bankers/ underwriters of securities and participate in virtually all securities trading markets in India. We and our associates might have investment banking and other business relationship with a significant percentage of companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.The information and opinions in this report have been prepared by ICICI Securities and are subject to change without any notice The report andThe information and opinions in this report have been prepared by ICICI Securities and are subject to change without any notice. The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities. While we would endeavour to update the information herein on a reasonable basis, ICICI Securities is under no obligation to update or keep the information current. Also, there may be regulatory, compliance or other reasons that may prevent ICICI Securities from doing so. Non-rated securities indicate that rating on a particular security has been suspended temporarily and such suspension is in compliance with applicable regulations and/or ICICI Securities policies, in circumstances where ICICI Securities might be acting in an advisory capacity to this company, or in certain other circumstances .This report is based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed. This report and information herein is solely for informational purpose and shall not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. ICICI Securities will not treat recipients as customers by virtue of their receiving this report. Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances The securities discussed and opinionsrepresentation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This may not be taken in substitution for the exercise of independent judgment by any recipient. The recipient should independently evaluate the investment risks. The value and return on investment may vary because of changes in interest rates, foreign exchange rates or any other reason.

DisclaimerICICI Securities accepts no liabilities whatsoever for any loss or damage of any kind arising out of the use of this report. Past performance is not

il id t f t f I t d i d t Ri k Di l D t t d t d th i k i t d b fnecessarily a guide to future performance. Investors are advised to see Risk Disclosure Document to understand the risks associated before investing in the securities markets. Actual results may differ materially from those set forth in projections. Forward-looking statements are not predictions and may be subject to change without notice.ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other assignment in the past twelve months. ICICI Securities or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve months from the date of this report for services in respect of managing or co-managing public offerings, corporate finance, investmenttwelve months from the date of this report for services in respect of managing or co managing public offerings, corporate finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction. ICICI Securities or its associates might have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the companies mentioned in the report in the past twelve months.ICICI Securities encourages independence in research report preparation and strives to minimize conflict in preparation of research report. ICICI Securities or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither ICICI Securities nor Research Analysts have any material conflict of i h i f bli i f hiinterest at the time of publication of this report.It is confirmed that Dharmesh Shah, Nitin Kunte, Dipesh Dagha, Pabitro Mukherjee, Vinayak Parmar Research Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding twelve months. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. ICICI Securities or its subsidiaries collectively or Research Analysts do not own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of the research report. Since associates of ICICI Securities are engaged in various financial service businesses they might have financial interests or beneficial ownershipSince associates of ICICI Securities are engaged in various financial service businesses, they might have financial interests or beneficial ownership in various companies including the subject company/companies mentioned in this report.

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