DAILY RECOMMENDATIONS

1. BUY RELCAPITAL FUTURE [4LOTS] ABOVE 404,SL 390, TARGET 428 IN 2-3 DAYS. CMP 404


2. BUY NATIONALUM IN CASH ABOVE 40.50 SL 38.47 TARGET 44.55, CMP 40.5

3. BUY SRTRANSFIN IN CASH ABOVE 997 SL 947 TARGET 1097, CMP 997

4. BUY IFCI 22.50 CALL OPTION ABOVE 1.80, SL 0.90, TARGET 3.6, CMP 1.80

5. BUY JP Associate 12.50 CALL OPTION ABOVE 1.75, SL 0.87, TARGET 3.5, CMP 1.75

6. SELL CRUDE AT 3100, SL 3130, TARGET 3050, CMP 3100


WWW.ADAMCAPITALFINANCIAL.COM

DAILY NIFTY OUTLOOK, 13TH OCT, 2015

Nifty October futures (8149.6)(-55.75):
Nifty future opened on a firm note but the upswing fizzled out around the 8147 level and it closed the day in the negative. It retreated from around the 8247-8250 region for the second consecutive day and the formation on the charts is not encouraging for the bulls. It must sustain decisively above 8250 for signalling continuation of the upswing. A failure to do so is likely to push it down and it may again seek lower levels. It has again closed below the 200 exponential moving average posited around 8200 which does not augur well for the bulls. The level of 8164-8170 is the immediate resistance and a failure to cross this level on intraday rallies will signal further weakness. The level of 8148 is the immediate support but the critical support is 8110-8100 and a decisive breach of this region will see the bears returning to the centres stage again.

• Resistance: 8164-8170, 8190-8206, 8247-8250, 8280, 8300, 8324, 8350, 8400-8405


• Support: 8130, 8110-8100, 8080, 8020, 7995, 7960, 7897-7900, 7880, 7820, 7765, 7714

Bank Nifty October Futures (17622.85) (-22.05):

Though the index has closed the day with modest losses, it has retreated from the important resistance around 17799-17814, and failed to close above the 17740 level where the 200 exponential moving average. 17740 is the important resistance level and the long term uptrend will be confirmed only if Bank nifty future closes decisively above this level. 17600 is the immediate support below which 17540-17545 region is an important support region and a failure to hold on to it on declines will signal weakness developing in the index and lead to lower levels once again. A decisive breach of 17450 could spell more trouble for the bulls and below 17374 the bears are likely to take the centre stage once again. 17350 is the critical support for now and a decisive breach of this level could lead to fresh panic unwinding.

• Resistance: 17630, 17700, 17740, 17793-17800, 17849, 17887-17900,17858, 17998-18000, 18137


• Support: 17600, 17540-17545, 17487, 17450, 17400, 17374, 17350, 17300, 17260, 17200, 17170, 17158, 17100, 17034-17000

DAILY MARKET OUTLOOK, 13TH OCT, 2015

Dear Customer,

 

Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.

 

• U.S. stocks closed mildly higher Monday in low volume trade as investors readied for the first major earnings reports due Tuesday.

Dow Jones	17131.9	+47.37	+0.28%
Dow Jones Fut	17008.0	-32.00	-0.19%
Hangseng	22602.2	-128.75	-0.57%
Nikkie	18266.7	-172.00	-0.93%
SGX Nifty	8147.5	-3.50	-0.04%

 

• Asian stocks dropped, with the regional benchmark index retreating from seven-week high, as Japanese shares slipped after a holiday and investors awaited China’s trade data.
• Market is expected to open on a flat note and likely to remain range bound during the day.
• India Aug IIP @ 6.4% vs 4.8% Exp (Prior 4.2%)
• India Sep CPI @  4.41% vs 4.40% Exp (Prior 3.66%)
• Indian Oil Corporation, is planning to spend about $5 billion to expand its exploration and production business, with half the amount slated to go into acquisition of new assets that are increasingly becoming available in the wake of a global crude oil crash. 
• DLF Ltd could be looking at a new business model where it will build and complete residential projects before selling apartments in them once the deal by its promoters to sell 40% stake in the company's rental arm for Rs 12,000-14,000 crore goes through with knowledge of plans
• Four days after recommending first renewal of Panchpatmali bauxite reserve in favour of NALCO, Odisha CM has approved a proposal to allocate another bauxite mines in favour of the aluminium major 
• Lanco Infratech Ltd has announced that it has pre-closed its outstanding term loan with YES Bank to the extent of Rs. 205.42 crore by obtaining lower interest rate term loan from another bank. 
• DB Corp Acquires 14 Frequencies In Phase-III Radio FM Auctions. FDI/FII Investment Limit In Co Likely To Increase To 26% From 20%
• JSW Steel’s production drops in September due to blast furnace shut down in Vijayanagar plant
• The Supreme Court asked the CBI to deal as per law with the diaries and cash seized from an office of Hindalco Industries to the Environment Ministry along with Rs 25 crore, found in the company's premises.

 

• Results announced

Infosys Ltd

Result is  ahead of expectation. Dollar revenue came at 2392 mn vs exp 2344mn vs qoq 2256mn vs yoy 2201mn. $ Growth of 6% Constant currency growth of 6.9%. Though volume growth came lower at 3.7% vs qoq 5.4%  EBIT came at 3993 cr vs exp 3823.9cr vs qoq 3447 cr  vs yoy  3483 cr. EBIT margin came at 25.5% vs exp 25.2% Company maintained CC guidance against exp of increase $ revenue guidance reduced on account of currency. TCV came at $983mn vs qoq $688mn. Overall result mix but outlook looks continue to be  positive. Share is trading at 17.3 PE vs TCS 18.8 PE leave scope for further gain. Management said Q3 will be bit more challenging on account of seasonally weak quarter and some concern on account of some customer. Short term stock will remain range bound

 

• Results to be announced (PAT Rs cr)

 

13-Oct	Sept'14	June'15	Expectation
DCB Bank Ltd.	41.1	46.9	47.6
Sree Rayalaseema Alkalies & Allied Chemicals Ltd.	5.8	9.0	na
Tata Consultancy Services Ltd.	5244.3	5684.1	6018.0