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DAILY REPORT

29st JANUARY. 2014

Global markets at a glance Asian equity markets rebounded on Wednesday after an aggressive rate hike from the Turkish central bank soothed worries over volatility in emerging markets. China's Shanghai Composite rose 0.41 percent or 8.44 points at 2,046.96 and Hong Kong's Hang Seng gained 0.84 percent or 185.10 points at 22,145.74. Japan's Nikkei jumped 1.74 percent or 260.14 points at 15,240.30 and South Korea's Seoul Composite added 0.63 percent or 12.05 points at 1,928.98. However, Singapore's Straits Times was down 0.20 percent or 6.23 points at 3,056.18. Wall Street Update the Dow Jones Industrial Average rose 0.57%, the S&P 500 index rose 0.61%, while the Nasdaq Composite index rose 0.35%. The calmer tone was reflected in the market's favored measure of volatility, the VIX index, which .VIX dropped over 9.0 percent on Tuesday to 15.80 and off a peak of 18.99. Previous day Roundup Markets closed in the negative territory for the third straight day after the RBI surprised the street by hiking the repo rates by 25 bps to 8% in its third quarter monetary policy review today. At close, the Sensex was down 14 points at 20,694 and the Nifty gave off four points to end at 6,132 The reverse repo rate under the Liquidity Adjustment Facility (LAF) stands adjusted at 7%, and the marginal standing facility (MSF) rate and the bank rate at 9%.The Cash Reserve Ratio (CRR) was kept unchanged at 4% of Net Demand and Time Liabilities (NDTL). Index stats The Market was very down in yesterday session where Bank and Bank Nifty both closed almost flat (down-3.97% and down-4.02% . respectively). Among the sartorial indices the sectors which were down are;], Capital Good [down-259.87 pts], Consumer Durables [down-106.17 pts], .Healthcare [down-91.65 pts], FMCG [down-11.82pts] AUTO [down397.76 pts], PSU [down154.71 pts], TECK [down-60.69pts], Oil& Gas [down205.20pts], Metals [down 365.89pts], , IT [down 60.82pts Realty [down 89.11.ts], Power [down 47.15 pts].

World Indices
Index DJl S&P 500 NASDAQ EURO STO FTSE 100 Nikkei 225 Hong Kong Value 15928.56 1792.50 4097.96 3038.60 6572.33 15240.84 22183.64
CMP Change

% Change +0.57 +0.61 +0.36 +0.80 +0.33 +1.74 +1.02


% Chg

Top Gainers
Company

TATASTEEL RANBAXY SSLT HINDALCO JPASSOCIATE

365.80 317.65 199.50 113.55 41.00


CMP

12.25 8.30 4.45 2.45 0.85


Change

+3.46 +2.68 +2.28 +2.21 +2.12


% Chg

Top Losers
Company

MARUTI AXISBANK LUPIN SUNPHRMA CIPLA


Symbol

1,543.40 1,119.50 874.95 583.80 408.00


Prev. Close

158.90 41.60 21.45 14.00 6.20


Change

-9.33 -3.58 -2.39 -2.34 -1.49


%Chg

Stocks at 52 Weeks high


GRANULES FIEMIND IPCALAB SYMPHONY SAKSOFT 229.40 376.50 798.15 470.70 82.80
Prev. Close

19.25 9.65 30.40 13.15 4.10


Change

+9.16 +2.63 +3.96 +2.87 4.95


%Chg

Stocks at 52 Weeks Low


Symbol

JETAIRWAYS JSL

253.50 34.40
CMP

0.60 0.25
Change

+0.24 -0.72
% Chg

Indian Indices
Company NIFTY SENSEX

6125.25 20670.52

-9.60 -12.99

-0.16 -0.13

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DAILY REPORT
29st JANUARY. 2014

EQUITY CASH & FUTURE

STOCK RECOMMENDATIONS [FUTURE] 1. TATA GLOBAL FUTURE

STOCK RECOMMENDATION [CASH] 1. GLENMARK PHARMA

TATA GLOBAL FUTURE is looking weak on charts, short build up has been seen, we may see more downside, if it sustains below 140 levels. We advise selling around 139-140 levels with strict stop loss 144 for the targets of 136-132 levels. 2. MARUTI FUTURE

MARUTI FUTURE is looking weak on charts, short build up has been seen, we may see more downside, if it sustains below 1550 levels. We advise selling around 1550-1570 levels with strict stop loss 1630 for the targets of 1505-1450 levels.

GLENMARK PHARMA is looking strong on charts. We advice buying around 550-555 levels with strict stop loss of 560 for the targets of 580-585 levels. MACRO NEWS The RBI hiked repo rate by 25 basis points to 8%, entirely reversing street expectations. Consequently, the reverse repo rate under the LAF stands adjusted at 7%, and the MSF rate and the Bank Rate at 9%. And CRR was kept unchanged as expected. Maruti Suzuki India Ltd on Tuesday announced a whollyowned subsidiary of Suzuki Motor Company would set up a plant in Gujarat . The reverse repo rate now stands at 7 percent, while the MSF and the Bank Rate stay at 9 percent. CRR has been left unchanged at 4 percent. The street had predicted status quo on the basis of slightly softer inflation in December India's leading public sector bank, State Bank of India yesterday launched a qualified institutional placement (QIP) book to raise close to 1.5billion dollars. According to investment banking sources, the QIP price band is Rs 1565-1596 (implying 0-2%) discount to yesterday's closing price. The coal ministry would next week review progress on 61 coal blocks allocated to 41 companies which are facing cancellation of licences due to delays in commencing production. Call us at +91-731-6642300

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DAILY REPORT
29st JANUARY. 2014

FUTURE & OPTION

MOST ACTIVE PUT OPTION


Symbol Option Type Strike Price LTP Traded Volume (Contracts) Open Interest

NIFTY NIFTY BANKNIFTY SBIN TCS INFY AXISBANK SBIN


Symbol

PE PE PE PE PE PE PE PE
Option Type

6,100 6,000 10,500 10,300 1,600 1,550 2,200 3,700


Strike Price

17.5 4 77 25.5 13.75 2.8 6.8 24


LTP

8,75,699 42,54,400 4,36,255 49,24,600 44,404 42,542 9,634 7,558 5,563 5,153
Traded Volume (Contracts)

1,77,950 1,07,200 3,69,000 1,67,625 6,04,750 3,42,625


Open Interest

STOCKS IN NEWS RBI hikes repo rate by 25 bps to 8%, MSF rate by 25 bps to 9%, keeps repo rate unchanged at 4% Maruti Suzuki approved Gujarat unit expansion via Suzuki. Q3 profit beat estimates, up 1.6% QoQ and 36% YoY Lanco Industries' Q3 net profit stood at Rs 8.8 crore versus loss of Rs 9.1 crore JSW Steel says will raise prices by 1-2 percent (Rs 7001,200/Tonne) w.e.f February 1 NIFTY FUTURE

MOST ACTIVE CALL OPTION

NIFTY NIFTY BANKNIFTY BANKNIFTY SBIN RELIANCE TCS AXISBANK

CE CE CE CE

6,200 6,100 11,000 10,700 1,650 1,600 1,700 1,200

12.75 59 4.05 35 5.8 20 1.6 1.9 BUY

8,20,429 47,29,600 4,55,045 22,67,600 64,245 51,560 14,955 8,911 7,971 5,506 4,77,100 1,69,575 8,20,250 3,52,875 Nifty Future closed in the red in the last trading session. 8,10,500 We advise selling below 6140 levels with strict stop loss 6,12,750 of 6180 for the targets of 6100-6060 levels. SELL OPEN INTEREST AT THE END OF THE DAY Amount in Crores 17287.16 44275.31 34903.24 3479.15 TOTAL NET AMOUNT 15.65 -276.32 -262.45 -51.79 -574.9

CE CE CE
CE

FII DERIVATIVES STATISTICS


No. of Amount in No. of Amount in No. of Contracts Crores Contracts Crores Contracts INDEX FUTURES INDEX OPTIONS STOCK FUTURES STOCK OPTIONS 264639 824293 319278 69144 8059.89 24529.06 9576.19 1946.56 265185 833262 326662 70790 8044.25 24805.38 9838.64 1998.35 570118 1459459 1153314 110732

INDICES
NIFTY NIFTYJUNIOR BANK NIFTY YOUR MINTVISORY

S2
6047.61 11753.89 10141.73

S1
6086.93 11823.54 10324.66

PIVOT
6125.26 11917.29 10516.33

R1
6164.58 11986.94 10699.26

R2
6202.91 12080.69 10890.93

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DAILY REPORT
29st JANUARY. 2014

COMMODITY MCX
COMMODITY ROUNDUP MCX Gold futures fell nearly 1% as some correction emerged in the metal after recent gains ahead of the US FOMC meet. The COMEX Gold futures came off highs near $1280 per ounce yesterday amid a hectic bout of volatility and currently trade at $1254.40, down $9 per ounce. MCX Gold futures are trading at Rs 29566, down Rs 232 per 10 grams on the day or 0.78% after testing lows under Rs 29500 levels. US dollar is turning positive ahead of the Fed meeting and quotes at 1.3640 against the Euro. The global markets are nervous this week following the worries caused by last week's Chinse economic data. Investors are likely to eye the outcome of the Federal Reserve's monthly meeting will be in focus amid expectations for a reduction to USD65 billion from the current USD75 billion in the bank's stimulus program. The meeting due on Wednesday will mark the last for outgoing Fed Chairman Ben Bernanke, as current Vice Chair Janet Yellen prepares to take over. China's manufacturing sector is showing an unexpected contraction in January, albeit a mild one, according to initial results from HSBC's monthly survey released Thursday. The flash version of the HSBC/Markit China manufacturing Purchasing Managers' Index fell to a six-month low of 49.6, down from a final December reading of 50.5. Results below the 50 level indicate contraction, while those above 50 suggest growth. Meanwhile, gold is witnessing some support following reports that the Gold coins in major advanced economies are witnessing excellent demand and Mints are working with full capacities to churn out the required quantity of coins. Further, media reports stated today that the Union Government might revisit some of the existing restrictions on gold imports by March-end this fiscal. Last year, the government stipulated that 20 percent of bullion imports be set aside for re-exports as jewellery. The customs duty on gold imports was also hiked sharply from 2% to 10%.The strike by the South Africa's Association of Mineworkers and Construction Union continued on Tuesday across the platinum belt in the North West, according to local media reports. Workers at Lonmin Platinum, Anglo American Platinum and Impala Platinum downed tools last week

RECOMMENDATIONS SILVER

TRADING STRATEGY: BUY SILVER ABOVE 45520 TGTS 45720/46020 SL 45180 SELL SILVER BELOW 44900 TGTS 44700/44400 SL 45260 GOLD

TRADING STRATEGY: BUY GOLD ABOVE 29850 TGTS 29930/30030 SL 29730 SELL GOLD BELOW 29650 TGTS 29570/29470 SL 29760

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DAILY REPORT
29st JANUARY. 2014

NCDEX

RECOMMENDATIONS CASTORSEED

NCDEX INDICES Index Value % Change

Castor Seed Chana Coriander Cotton Seed Oilcake Jeera Maize Feed/ Industrial Grade Mustard seed Soy Bean Turmeric

4108 2960 8312 1534 12420 1198 3367 3844 7140

-1.32 -1.73 -0.07 -0.90 -0.24 0.00 -0.41 -0.88 2.09

BUY CASTORSEED FEB ABOVE 4155 TGTS 4185,4245 SL 4105 SELL CASTORSEED FEB BELOW 4080 TGTS 4050,4000 SL 4130

DHANIYA

NCDEX ROUNDUP Cardamom prices rose by 0.40% to Rs 724.90 per kg in futures trade today after speculators enlarged positions supported by good buying in the spot markets. Sentiment improved further as a result of firm demand in the spot market against restricted arrivals from producing belts. At the Multi Commodity Exchange, cardamom for February contracts rose by Rs 2.90, or 0.40%, to Rs 724.90 per kg, with a trading volume of 136 lots. The spice for delivery in March was trading up by Rs 2.80, or 0.37%, to Rs 755 per kg, with a business volume of 44 lots. Traders said rising export and spot demand against restricted arrivals from producing regions mainly influenced cardamom prices at futures market. The NCDEX turmeric for the April delivery ended the day at Rs 7140,up Rs 146 or 2.09% over Monday's close. The market sources suggested that the total production of turmeric in the current year is estimated at 52 lakh bags against 70 lakh bags that were estimated in the last year. Turmeric spurted almost Rs 300 per quintal in last two sessions as strong buying emerged in the counter. The counter ended the day at Rs 7140,up Rs 146 or 2.09% over Monday's close and the open interest added 510 positions to 15,170 tonnes, indicating fresh buying.

BUY DHANIYA FEB ABOVE 8370 TGTS 8400,8450 SL 8320 SELL DHANIYA FEB BELOW 8235 TGTS 8205,8155 SL 8285

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DAILY REPORT
29st JANUARY. 2014

CURRENCY

RBI Reference Rate


Currency Rate Currency Rate

Rupee- $ Euro EUR/INR

62.9898 Yen-100 86.1715 GBP

61.3600 104.6135

The Indian rupee opened lower at 63.18 per dollar versus 63.10 Monday. The dollar regains a firmer footing against the yen, as expectations that the US Fed will scale back its stimulus further pulled the dollar off a seven-week low against the yen. Emerging markets currencies remain under pressure, though most analysts believe a full-blown crisis is unlikely at the moment The dollar was steady against the yen on Tuesday, firming up after last week's 1.8% decline, as investors began to turn their focus to Wednesday's policy statement by the Federal Reserve. USD/JPY edged up 0.05% to 102.60, recovering from the seven-week low of 101.76 reached on Monday. The pair is likely to find support at 102.00 and resistance at 103.30. Indias rupee rose from a two-month low after the central bank unexpectedly raised interest rates. The Reserve Bank of India increased the repurchase rate to 8 percent from 7.75 percent, a move predicted by only three of 45 economists in a Bloomberg survey. The rest saw no change. Further near-term policy tightening isnt anticipated, the monetary authority said in a statement. The Federal Reserve will conclude a two-day meeting tomorrow, where it is forecast to further reduce stimulus thats buoyed emerging markets. The Indian Rupee depreciated by 0.75 percent in yesterdays trading session and closed at 63.13 on the back of month end dollar demand from Importers along with rise in worries over countrys economic growth. Further, selloff in the global markets and weakness in the emerging market currencies added downside pressure on the Indian Rupee. Additionally, strength in dollar index kept currency under pressure. Apart from that, investors remained cautious ahead of monetary policy decision by RBI. SELL JPY/INR BELOW 60.58 TGTS 60.44, 60.29 SL 60.87. BUY JPY/INR ABOVE 61.26 TGTS 61.39, 61.53 SL 60.97. CURRENCY ROUNDUP

SELL EUR/INR BELOW 85.25 TGTS 85.12, 84.98 SL 85.55. BUY EUR/INR ABOVE 85.98 TGTS 86.12, 86.28 SL 85.68. JPY/INR

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DAILY REPORT
29st JANUARY. 2014

CALL REPORT
PERFORMANCE UPDATES

Date

Commodity/ Currency Pairs MCX GOLD MCX GOLD MCX SILVER MCX SILVER NCDEX CASTOR SEED NCDEX CASTOR SEED NCDEX DHANIYA NCDEX DHANIYA USD/INR USD/INR JPY/INR JPY/INR

Contract

Strategy

Entry Level

Target

Stop Loss

Remark

28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14 28/01/14

FEB. FEB. MAR. MAR. FEB. FEB. FEB. FEB JAN. JAN. JAN. JAN.

BUY SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY

29850 29650 45520 44900 4190 4125 8430 8270 62.81 63.35 61.03 61.72

29930-30030 29570-29470 45720-46020 44700-44400 4220-4270 4095-4045 8460-8510 8240-8190 62.68-62.53 63.47-63.61 60.90-60.74 61.86-62.00

29730 29760 45180 45260 4140 4175 8380 8320 62.10 63.06 61.32 61.44

NOT EXECUTED BOOKED FULL PROFIT NOT EXECUTED BOOKED FULL PROFIT SL TRIGGERED BOOKED FULL PROFIT NOT EXECUTED SL TRIGGERED BOOKED PROFIT NOT EXECUTED BOOKED ULL PROFIT NOT EXECUTED

Date

Scrip

CASH/ FUTURE/ OPTION

Strategy

Entry Level

Target

Stop Loss

Remark

28/01/14 28/01/14 28/01/14 28/01/14 20/01/14

NIFTY GLENMARK ADANIPOWER HINDUNILEVER BJAAJ AUTO

FUTURE FUTURE FUTURE CASH FUTURE

SELL BUY SELL BUY BUY

6140 550 33.50-34.00 575-570 1950

6100-6060 560-575 32.50-31.50 580-585 1900-2040

6180 540 35 560 1890

BOOKED PROFIT CALL OPEN BOOKED PROFIT SL TRIGGERED CALL OPEN

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DAILY REPORT
29st JANUARY. 2014

ECONOMIC CALENDAR

NEXT WEEK'S U.S. ECONOMIC REPORTS TIME (ET) REPORT PERIOD ACTUAL CONSENSUS FORECAST PREVIOUS

MONDAY, JAN. 27
10 am New home sales Dec. TUESDAY, JAN. 28 8:30 am 10 am Durable good orders Consumer confidence index Dec. Jan. WEDNESDAY, JAN,29 NONE SCHEDULED THURSDAY, JAN. 30 8:30 am 8:30 am Weekly jobless claims GDP 1/25 1Q FRIDAY ,JAN 31 8:30 am 8:30 am 8:30 am 9:45 am 9:55 am Employment cost index Personal income Consumer spending Chicago PMI UMich consumer sentiment index 1Q Dec. Dec. Jan. Jan. Disclaimer
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469,000

464,000

1.5% 77.9

3.4% 78.1

N/A 3.0%

N/A 4.1%

0.5% 0.2% 0.2% 61.2 83.0

0.4% 0.2% 0.5% 60.8 82.5

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