Technical & Quant Update

7th Apr 2017

Edition 811

Trading Calls
BAJAJ-AUTO Long/Buy 6th Apr 2017 Market Value % Change
Today it has confimed the low of wave 4 and we expect that during internal SGX Nifty 9258.00 -0.10%
wave iii of 5 it should move up to 2900. Hence we advise our client ot buy at
cmp 2795 for the first price target of 2586 and second price target of 2900 Nifty Key Levels
with 2734 as SL. Here stochastic is taking multiple support in over sold zone Support S1: 9230 S2: 9193
and trying to move up which is technically sign of bullish.
Resistance R1: 9380

KPIT Long/Buy 5th Apr 2017 Market Outlook

Today it has given breakout signal with good volume after spending complex RBI kept the rate unchanged but hinting looming inflation threat
time and price in wave B. We recommend our client to buy for the interal over the next 6-12 months, obliquely implies an interest rate hike
wave I of C, and our first target would be 134.50 and second target would be in 2017-18. Though RBI sounding bullish on gdp growth for FY18
137 with 127.80 as SL. (guidance of 7.4%) helped market recover yesterday. Now as we
get close to Q4 earning season, market will start focusing on
earning trajectory for FY18. Market presently is discounting 18%
HINDZINC Long/Buy 5th Apr 2017
earning growth. What the expectation becomes post Q4 will be
It has formed zig zag correction in wave 2 there after giving positive signal for key to market post April.
wave I of wave 3. Hence we advise our client to go long at cmp 293 for the
first price target of 303 and second price target of 307 with 284 as SL. Institutional Turnover
FII Buy(Cr.) Sale(Cr.) Net(Cr.)
06-Apr-17 5130 4987 143
TATACOMM Long/Buy 31th Mar 2017 Apr-17 16499 15481 1017
The stock has corrected over 10% from its recent high of Rs 782 made on DII Buy(Cr.) Sale(Cr.) Net(Cr.)
16th March. Some delivery based buying was witnessed on last Friday. 06-Apr-17 3106 3312 (206)
Therefore we advise traders to initiate long position in the stock near Rs 722 Apr-17 9562 9928 (366)
with a stop loss of Rs 699. The upside targets are Rs 744 and Rs 773. The
indicators (like RSI and MACD) are in oversold zone suggesting some fresh Sectoral Performance (%)
upside in the extreme short term. 1 Day 1 Week 1Month 1 Year

Auto Components 1.0 2.5 6.3 36.0

JINDALSAW Long/Buy 28th Mar 2017 Automobiles (0.7) (0.2) 1.0 26.1
Today it has taken support at middle line of Bollingar band and trading above Chemicals 0.4 1.6 3.5 40.5
JINDALSAW Tgt
this support line with good volume. Hence we recommned buy at 82 for the Consumer Finance 0.5 4.1 8.6 63.5
1 Achived Rs 85
first target of 85.30 and second target of 87 with 78.75 as SL. QQE and Construction Materials 0.5 1.4 3.3 33.4
Stochastic borth are giving positivie signal. During corrective fall volume was
Construction & Engg 0.2 0.1 5.2 32.5
Div. Financial Services 0.9 2.0 12.2 58.7
CESC Long/Buy 27th Mar 2017
Electrical Equipment 1.1 3.0 6.0 27.4
In larger degree CESC is in the
CESC Tgtgrip
1 of bull, and it seems that it has completed
Energy 0.3 (0.4) (1.3) 39.2
internarl wave 2/B ofAchived
larger degree
Rs wave 5/C, Internal wave 3, 4 and 5 of
larger wave 5 is due and860 our target is 860 of internal wave 3 and 885 of Financials 0.8 3.4 5.1 47.3

internal wave 5 of larger wave 5/C. Hence we recommend buy in the range of Health Care (0.6) (0.3) (0.4) 5.1

828-822 with 790 as SL. Household Durables 0.6 3.2 8.0 38.04
Household Pers. Products 1.6 1.8 3.0 12.9
MERCK Long/Buy 22th Mar 2017
Information Technology 0.35 (0.5) 0.4 (3.4)
After consolidating near 50 DMA since last one month, MERCK Ltd. has given
Metals/Mining/Minerals (1.7) (1.1) (3.3) 45.4
a sharp pullback rally yesterday. Therefore we advise traders to initiate long
Telecom 1.8 2.1 (3.2) (4.1)
position in the stock near Rs 1025 with a stop loss of Rs 928. The upside
Utilities (0.2) 2.0 2.5 33.6
targets are Rs 1123 and Rs 1248.
Narnolia Securities Ltd Market Research
Participant wise Open Interest In Equities Derivative (no. of contracts)

Long Position Short Position

DII FII Pro Other DII FII Pro Other
Future Index 23459 240177 14507 117081 Future Index 31746 74012 69826 219640
Future Stock 19473 449240 120451 820044 Future Stock 395562 742510 52588 218548
Option Index Call 142584 224059 192029 302914 Option Index Call 0 206627 141287 513672
Option Index Put 3548 284596 140956 483021 Option Index Put 0 79756 232334 600031
Option Stock Call 160 17636 31410 152008 Option Stock Call 0 16938 60696 123580
Option Stock Put 0 16605 26557 74153 Option Stock Put 0 9071 29605 78639

High ES & High PS Stock Maintaining Strength High ES & Low PS Stock Showing Strength

BSE Code NSE CODE 1 Month Return % BSE Code NSE CODE 1 Month Return %
532526 DISHMAN 49.0 511676 GICHSGFIN 46.1
532714 KEC 30.5 532830 ASTRAL 27.6
532922 EDELWEISS 28.1 523398 HITACHIHOM 24.2
532504 NAVINFLUOR 26.5 500710 AKZOINDIA 22.3
533400 FCEL 26.0 532617 JETAIRWAYS 21.5
500168 GOODYEAR 24.5 532848 DELTACORP 20.7
532856 TIMETECHNO 22.6 533269 WABAG 20.5
512573 AVANTI 21.6 511072 DHFL 20.3
500144 FINCABLES 21.1 533261 EROSMEDIA 19.5
500067 BLUESTARCO 21.1 532938 FCH 19.5

Low ES & Low PS Stock Maintaining Weakness Low ES & High PS Stock Showing Weakness

BSE Code NSE CODE 1 Month Return % BSE Code NSE CODE 1 Month Return %
533265 GALLISPAT (43.67) 532755 TECHM (11.37)
532822 IDEA (21.79) 530943 SABTN (10.60)
532488 DIVISLAB (16.85) 532221 SONATSOFTW (9.42)
500124 DRREDDY (5.61) 533171 UNITEDBNK (8.76)
532819 MINDTREE (3.48) 500188 HINDZINC (7.72)
507488 GMBREW (3.30) 526299 MPHASIS (5.18)
532400 KPIT (3.26) 532454 BHARTIARTL (3.92)
535648 JUSTDIAL (1.93) 519600 CCL (3.18)
532478 UBL (1.62) 500110 CHENNPETRO (2.02)
532215 AXISBANK (0.80) 514162 WELSPUNIND (1.33)

* ES- Earning Score is average of EM (Earning Momentum defined as relative performance in terms of operating profit growth) and EQ
(Earning Quality defined as relative balance sheet strength in terms of debt and working capital)
* PS- Price Score is of a companiy is relative price performance in multiple time-frame
# Analysis shown here is only for companies with market cap more than Rs 1,000 Cr.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 6-Apr-17

BSE Code 532977 Buy Price 2795

NSE Symbol BAJAJ-AUTO Stop Loss 2734
52wk Range H/L 3122/2350.15 Target Price1 2856
Mkt Capital (Rs Cr) 80849 Target Price2 2900
Av.Cash Volume 35,573 Upside in Tgt1 2.18
Open Interest - Upside in Tgt2 3.76

Technical Chart- Daily

Today it has confimed the low of wave 4 and we expect that during internal wave iii of 5 it should move up to 2900. Hence
we advise our client ot buy at cmp 2795 for the first price target of 2586 and second price target of 2900 with 2734 as SL.
Here stochastic is taking multiple support in over sold zone and trying to move up which is technically sign of bullish.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 5-Apr-17

BSE Code 532400 Buy Price 131

NSE Symbol KPIT Stop Loss 127.8
52wk Range H/L 196.60/121.30 Target Price1 134.5
Mkt Capital (Rs Cr) 2573 Target Price2 137
Av.Cash Volume 2,007 Upside in Tgt1 2.67
Open Interest - Upside in Tgt2 4.58

Technical Chart- Daily

Today it has given breakout signal with good volume after spending complex time and price in wave B. We recommend
our client to buy for the interal wave I of C, and our first target would be 134.50 and second target would be 137 with
127.80 as SL.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 5-Apr-17

BSE Code 500188 Buy Price 293

NSE Symbol HINDZINC Stop Loss 284
52wk Range H/L 333.4/158.20 Target Price1 303
Mkt Capital (Rs Cr) 123865 Target Price2 307
Av.Cash Volume 7,431 Upside in Tgt1 3.41
Open Interest - Upside in Tgt2 4.78

Technical Chart- Daily

It has formed zig zag correction in wave 2 there after giving positive signal for wave I of wave 3. Hence we advise our client
to go long at cmp 293 for the first price target of 303 and second price target of 307 with 284 as SL. Here stochastic is
giving reversal sign also after spending some time in over sold zone which is positive.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY 3-Apr-17

BSE Code 500483 Buy Price 722.05

NSE Symbol TATACOMM Stop Loss 699
52wk Range H/L 372.80/783.90 Target Price1 744
Mkt Capital (Rs Cr) 20577 Target Price2 773
Av.Cash Volume(,000) 598 Upside in Tgt1 3%
Open Interest 13675 Upside in Tgt2 7%

Technical Chart

The stock has corrected over 10% from its recent high of Rs 782 made on 16th March. Currently it has been consolidating
near Rs 700 since last few days. Some delivery based buying was witnessed on last Friday.

Therefore we advise traders to initiate long position in the stock near Rs 722 with a stop loss of Rs 699. The upside targets
are Rs 744 and Rs 773.

The indicators (like RSI and MACD) are in oversold zone suggesting some fresh upside in the extreme short term.

7th Apr 2017

Narnolia Securities Ltd Retail Technical Reseach
Rating : Long / BUY Initiation Date 28-Mar-17

BSE Code 500378 Buy Price 82

NSE Symbol JINDALSAW Stop Loss 78.75
52wk Range H/L 87.45 Target Price1 85.3
Mkt Capital (Rs Cr) 34.95 Target Price2 87
Av.Cash Volume Upside in Tgt1 4.02
Open Interest - Upside in Tgt2 6.10

Technical Chart- Daily

Today it has taken support at middle line of Bollingar band and trading above this support line with good volume. Hence
we recommned buy at 82 for the first target of 85.30 and second target of 87 with 78.75 as SL. QQE and Stochastic borth
are giving positivie signal. During corrective fall volume was also very low which is another positive trigger.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 27-Mar-17

BSE Code 500084 Buy Price 825

NSE Symbol CESC Stop Loss 790
52wk Range H/L 886.30/454.65 Target Price1 860
Mkt Capital (Rs Cr) 10325 Target Price2 885
Av.Cash Volume 5,162 Upside in Tgt1 4.24
Open Interest - Upside in Tgt2 7.27

Technical Chart- Daily

In larger degree CESC is in the grip of bull, and it seems that it has completed internarl wave 2/B of larger degree wave
5/C, Internal wave 3, 4 and 5 of larger wave 5 is due and our target is 860 of internal wave 3 and 885 of internal wave 5 of
larger wave 5/C. Hence we recommend buy in the range of 828-822 with 790 as SL. During internal wave 2 volume was
low which is supportive and indication of trend reversal of just preceding trend.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 22-Mar-17

BSE Code 500126 Buy Price 1025.7

NSE Symbol MERCK Stop Loss 928
52wk Range H/L 625.10/1157 Target Price1 1123
Mkt Capital (Rs Cr) 1701 Target Price2 1248
Av.Cash Volume(,000) 38.4 Upside in Tgt1 9%
Open Interest NA Upside in Tgt2 22%

Technical Chart

After consolidating near 50 DMA since last one month, MERCK Ltd. has given a sharp pullback rally yesterday. The stock
has also given a channel breakout above Rs 1020 with decent volumes.

Therefore we advise traders to initiate long position in the stock near Rs 1025 with a stop loss of Rs 928. The upside
targets are Rs 1123 and Rs 1248.

The indicators (like RSI and MACD) are in oversold zone suggesting some fresh upside in the extreme short term.

7th Apr 2017

Narnolia Securities Ltd Retail Technical Reseach
Rating : Long / BUY Initiation Date 16-Mar-17

BSE Code 517518 Buy Price 249

NSE Symbol LLOYDLELENG Stop Loss 234
52wk Range H/L 340.40/196.30 Target Price1 265
Mkt Capital (Rs Cr) 1018 Target Price2 275
Av.Cash Volume 509 Upside in Tgt1 6.43
Open Interest - Upside in Tgt2 10.44

Technical Chart- Daily

After a sharp fall first time fresh buying emerged today with good volume. Hence we recommend buy at 249 for the first
price target of 265 and second price target of 275 with 234 as SL. From last few day volume participation during fall was
very low which was the early indication of reversal of preceding trend. Stochastic is moving also from over sold zone to
upward direction.

7th Apr 2017

Narnolia Securities Ltd Market Research
Rating : Long / BUY Initiation Date 10-Mar-17

BSE Code 500312 Buy Price 191

NSE Symbol ONGC Stop Loss 185.8
52wk Range H/L 212/133.40 Target Price1 197
Mkt Capital (Rs Cr) 245628 Target Price2 201
Av.Cash Volume 51,581 Upside in Tgt1 3.14
Open Interest 393750 Upside in Tgt2 5.24

Technical Chart- Daily

Company has take support at lower band with good volume in hourly chart. Hence we recommed buy at cmp 191 for the
first target of 197 and second target of 201 with 185.80 as SL. Stochastic is in favour. Delivery percentage is also in favour.

7th Apr 2017

Narnolia Securities Ltd Market Research
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