Daily Calls

January 8, 2014
Market Outlook

Domestic Indices
Indices

Close

Change

Change%

20,693.2
6,162.3

-94.06
-29.20

-0.5
-0.5

Nifty future

6,195.9

-33.30

-0.5

S&PBSE 500

7,684.4

-39.32

-0.5

S&PBSE Midcap

6,657.6

-25.15

-0.4

S&PBSE Smallcap

6,639.1

24.08

0.4

Indices
Close
Dow Jones
16,530.9
Nasdaq
4,153.2
FTSE
6,755.5
DAX
9,506.2
Hang Seng
22,893.0
Nikkei
15,987.3
SGX Nifty
6,209.0
* Asian Market at 7:30 am.IST

Change
105.84
39.50
24.72
78.20
186.7
172.9
23.5

Change%
0.6
1.0
0.4
0.8
0.8
1.1
0.4

S&P BSE Sensex

CNX Nifty

Global Indices

Sensex: We said, "weakness below 2-day lows would open -ve options ... " Initially 100 pts higher, Index later reacted 253 pts
lower. Breaking the 2-day lows, it finally settled with a loss of 94 pts or 0.4%. Most sectors ended flat to -ve. The Metal and
Realty Indexes lost 1.6% each, and the A/D ratio turned -ve 1:2.
The action formed a bigger Bear candle, indicating downward reaction after pulling back to the Blue line. With a lower high-low,
the bias is -ve. However, further weakness below the candle would be required to test Dec'13 lows. Holding either the low of the
candle or 'Dec low, on the other hand, could result in fall-arresting behavior.
Exhibit 1: Sensex Daily Candlestick Chart

Market Breadth
36
144

Unchg

NSE
BSE

544

Decline

1246

388

Advance
0

500

1289
1000

1500

Recommendations for the day

1. Sell Nifty Jan Future in range of 6227-6232
2. Buy Dabur India in range of 171.75-172.25
3. Buy Maruti above 1862.00
4. Sell Power Finance Corp below 153.50
5. Sell Sesa Sterlite below 195.00
*All Recommendations are of Jan Future

Source: ASA, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Exhibit 2: Nifty Future Daily Candlestick Chart

CNX Nifty Technical Picture
Nifty

Intraday

Short Term

Trend

Range bound

Range bound

Support

6130-6105

6130

Resistance

6195-6225

6500

Trend Reversal

20 Days EMA

6229

200 days EMA

5956

Nifty Future Recommendations

CMP :

6195.85

Comment : Future premium decreased from 38 points to 34.

Reacts downwards after pulling back to the
broken support line.Reverse if holds 6170-80

Action :

Sell in the range of 6227-6232

Targets :

6195/6175/Lower

Stop-loss :

6250.00

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 2

Global Currencies

Trend Scanner

Spot

Close

Prev.close

% Chg

Rupee (|)

62.300

62.310

0.0

Dollar Index

80.861

80.665

0.2

Scrip Name

0.1

Cadila Healthcare Ltd

Euro

1.363

1.362

Positive Trends

British Pound

1.640

1.640

0.0

Dabur India Ltd

Japanese Yen

104.830

104.600

0.2

Mphasis Ltd

Australian ($)

0.892

0.893

0.0

Maruti Suzuki India Ltd

Swiss Franc

0.908

0.909

-0.1

Candlestick Patterns
Close

% Change 10-day SMA Delivery (%)

2.13

792.83

61.21

Bearish Engulfing

172.6

1.71

170.65

52.88

Scrip Name

434.1

1.70

430.46

77.86

Adani Enterprises

1845.75

2.10

1788.30

58.09

Rolta India

Scrip Name

Close

8.78

Steel Authority of India Ltd

69.75

-3.19

71.64

50.81

2.94

2.96

Sobha Developers Ltd

310.95

-3.70

317.08

76.25

EURO 10 Year

1.89

1.91

Power Finance Corp Ltd

152.95

-3.17

161.17

38.2

GBP 10 Year

2.95

2.97

JPY 10 Year

0.70

0.73

Closing Yield (%)

Previous Yield (%)

India 10 year

8.79

US 10 Year

Commodities

US Dollar

Overbought Stocks
Stocks rising for 5 days & stochastic overbought

Stocks falling for 5 days & stochastic oversold

%Chg

1231.49

1237.59

-0.49

3.39

3.40

-0.29

107.39

107.00

0.36

FII
10.2

DII
-222.1

674.1

-189.8

3-Jan-14

-18.1

-280.8

Arvind

6-Jan-14

-318.9

-22.5

Havells

835

7-Jan-14

-567.0

59.4

Maruti

1849

Brent Crude

% Change 10-day SMA Delivery (%)

Oversold Stocks

Prev. Close

Copper

Bullish Engulfing
Close
241.15

Scrip Name
Mphasis

435.00

71.40

Bullish Candle

Bank of Baroda

616.10

Dabur India

Sesa Sterlite

193.95

Maruti

Ultratech Cement

Close

1687.00

172.45
1849.00

Cadila Healthcare

809.20

Evening Star

Close
Gold

Bullish Reversal Pattern

Bearish Candle

Negative Trends

Global Treasury Yields

Bearish Reversal Pattern

804.45

Scrip Name
Havells

Close
835

Stochastic Scrip Name

87.52 Larsen&Tourbo
Mahindra & Mahindra

Close

Stochastic

1019

14.3

906.95

13.88

Oil India

464.40

Wipro

549.00

Note: For Candlestick pattern description refer towards the end of the
report.

Institutional Activity
Cash Segment (| Cr)
1-Jan-14
2-Jan-14

Stocks hitting 52 week high

Scrip Name

Rallis

ICICI Securities Ltd. | Retail Equity Research

Stocks hitting 52 week low

Close
153.45

Scrip Name

Close

NA

180.35

Page 3

Stock recommendations for the day

Exhibit 3: Dabur India (DABIND)

Daily Candlestick Chart

Dabur India (DABIND) Jan Future

CMP :

173.25

Comment : Price trading in a rising channel in the daily chart

and stochastic giving buy signal in the daily
chart
Action :

Buy in the range of 171.75-172.25

Targets :

175.50/177/Higher

Stop-loss :

170.40

Price trading in a rising channel in the daily chart

Stochastic giving buy signal in the daily chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 4

Exhibit 4: Maruti (MARUTI)

Channel breakout with a gap up price action and price taking support at the
21days EMA in the daily chart

Maruti (MARUTI) Jan Future

CMP :

Daily Candlestick Chart

1860.70

Comment : Channel breakout with a gap up price action and

price taking support at the 21days EMA and
MACD giving buy signal in the daily chart

Action :

Buy above 1862.00

Targets :

1885/1898/Higher

Stop-loss :

1849.00

21 days EMA

MACD giving buy signal in the daily chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 5

Exhibit 5: Power Finance Corporation (POWFIN)

Daily Candlestick Chart

Power Finance Corporation (POWFIN) Jan Future

CMP :

154.15

Comment : Trendline breakdown in the daily chart and price

taking resistance from the 13 days EMA and
MACD giving sell signal in the daily chart

Action :

Sell below 153.50

Targets :

150.50/149/Lower

Stop-loss :

155.00

Trendline breakdown in the daily chart and price

taking resistance from the 13 days EMA in the daily
chart
13 days EMA
MACD giving sell signal in the daily chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 6

Exhibit 6: Sesa Sterlite (SESGOA)

Bearish double top in the daily chart and price closed below 34 days EMA in the
daily chart

Sesa Sterlite (SESGOA) Jan Future

CMP :

Daily Candlestick Chart

195.85

Comment : Bearish double top in the daily chart and price

closed below 34 days EMA in the dialy chart and
14 periods RSI giving sell signal forming lower
lows in the daily chart
Action :

Sell below 195.00

Targets :

191.30/189.50/Lower

Stop-loss :

197.00

34 days EMA

14 periods RSI giving sell signal forming lower lows in the daily chart

Source: Spider software, ICICIdirect.com Research

ICICI Securities Ltd. | Retail Equity Research

Page 7

Previous Days Performance

Scrip
Nifty
Sun Pharma
Tata Comm
Bank of Baroda
JP Associate
* Return Opportunity

Product
Future
Future
Future
Future
Future

Strategy
Sell
Buy
Buy
Sell
Sell

Nifty Points gained for the day: 51 points

Stock profits: Avg 1.30% per trade

Strike Rate for the day: 3/4

Recommended Price
In the range of 6250-6255
above 592.50
above 318.00
below 640.50
below 51.70

Targets
6220/6200/602.5/607.5/+
324/327/+
630.5/625/50.5/49.80/-

SL
Gain/Loss %*
6270.00
51 points
587.50
1.60
315.00
-0.95
646.00
2.40
52.30
2.20

Comment
Target 2 achieved
Target 1 almost achieved
Stoploss triggered
Target 2 achieved
Target 1 almost achieved

Gains over last 190 days: 890 points

(Cum. Profits over last 190 days: 286.50%)

(Cum strike rate over 190 days: 287/465(62%)

NOTE: The follow-up and performance review table of the strategies indicates the profit opportunity that was available in the strategies. Individual profits may vary,
depending upon the entry and exit price and stop losses

ICICI Securities Ltd. | Retail Equity Research

Page 8

Support and Resistance Table

SCRIP

R2

R3

20693.24

20590.1

20542.15

20494.2

20716.75

20780.1

20843.4

-ve

NIFTY

6162.25

6130.85

6117.20

6103.60

6169.20

6188.40

6207.60

-ve

ACC

+ve

SENSEX

CLOSE

S1

S2

S3

R1

TREND

1085.20

1084.35

1078.60

1072.85

1095.85

1101.75

1107.60

ADANI ENTER.

241.95

237.00

234.45

231.90

243.95

247.40

250.90

-ve

ADANI POWER

36.00

35.45

35.00

34.60

36.20

36.60

37.00

-ve

ADITYA BIRLA

1199.85

1194.60

1186.65

1177.75

1210.50

1218.45

1227.35

ALLAHABAD BANK

92.75

91.10

90.30

89.45

93.00

93.95

94.85

ANDHRA BANK

62.10

61.25

60.95

60.65

62.15

62.60

63.10

APOLLO TYRES

106.35

107.05

105.40

103.80

110.30

111.00

111.70

+ve

ARVIND

153.65

152.55

151.35

149.00

154.95

156.10

158.50

Neutral

18.35

18.05

17.90

17.70

18.40

18.60

18.80

489.95

489.55

487.15

484.80

494.30

496.75

499.25

ASHOK LEYLAND
ASIAN PAINTS
AUROBINDO PHARMA

Neutral
-ve
-ve

-ve
+ve

407.75

402.25

396.50

390.75

408.90

412.25

415.55

1889.95

1885.00

1880.05

1873.80

1894.90

1899.85

1906.05

BOB

616.80

605.95

602.00

598.05

620.90

628.35

635.80

-ve

BOI

231.00

226.10

223.40

220.70

230.80

233.10

235.45

-ve

BAJAJ AUTO

BATA INDIA

-ve
Neutral

1024.55

1012.00

1006.50

1001.00

1024.75

1031.10

1037.45

BHARAT FORGE

338.15

338.45

336.50

334.50

342.40

346.65

350.90

BPCL

323.55

319.90

317.70

315.45

324.70

327.15

329.55

-ve

BHARTI AIRTEL

331.70

331.30

329.30

327.30

335.30

336.50

337.75

+ve

BHEL

165.00

165.60

163.95

162.25

169.00

170.10

171.20

+ve

CAIRNS INDIA

319.45

318.75

317.70

316.75

320.85

321.90

322.85

Neutral

CANARA BANK

268.50

263.65

260.55

257.40

269.20

272.00

274.75

-ve

CENTURY TEXT.

311.40

310.55

308.05

305.60

315.50

319.10

322.70

+ve

CESC

452.55

443.80

437.20

430.55

454.65

460.10

465.50

39.95

39.80

39.65

39.45

40.20

40.40

40.55

Neutral

CIPLA

390.85

389.75

388.25

386.20

392.70

394.15

396.25

Neutral

COAL INDIA

275.35

274.50

273.25

271.70

277.00

278.25

279.75

Neutral

COLGATE PALMOLIVE

1341.00

1326.60

1319.30

1312.00

1345.15

1354.45

1363.70

CROMPTON GREAVES

129.65

129.55

128.65

127.75

131.35

133.10

134.85

+ve

DABUR INDIA

172.60

172.35

171.40

170.45

174.25

175.35

176.45

+ve

56.20

55.05

54.60

54.15

56.45

57.15

57.90

-ve

1230.30

1217.90

1212.15

1206.40

1234.75

1243.20

1251.60

-ve

CHAMBAL FERT.

DISH TV
DIVI'S LAB.

ICICI Securities Ltd. | Retail Equity Research

-ve
+ve

-ve

-ve

Page 9

SCRIP
DLF
DR.REDDY'S LAB.
EXIDE IND.
FEDERAL BANK
FIN. TECH.
FUTURE RETAIL
GAIL
GMR INFRA.
GODREJ IND.
GRASIM
AMBUJA CEMENT

CLOSE

S1

S2

S3

R1

R2

R3

TREND

163.95

161.10

159.95

158.75

164.50

166.20

167.90

2491.25

2489.60

2478.75

2467.90

2511.30

2525.00

2538.65

+ve

118.25

118.30

117.60

116.90

119.70

120.50

121.25

+ve

82.10

80.55

79.40

78.25

82.60

83.65

84.65

271.45

266.45

258.90

251.40

281.50

291.35

301.20

81.30

78.55

76.95

75.40

81.35

82.75

84.15

338.00

337.55

335.40

333.20

341.85

343.40

344.95

-ve

-ve
+ve
-ve
+ve

22.65

22.25

22.10

22.00

22.80

23.10

23.40

-ve

274.05

270.25

267.45

264.65

275.45

278.05

280.65

-ve

2611.65

2593.55

2577.90

2562.25

2616.00

2627.25

2638.50

175.25

174.75

173.90

173.10

176.45

177.25

178.10

-ve
Neutral

GUJ.STATE PET.

57.60

57.00

56.75

56.50

57.75

58.15

58.55

HAVELL'S INDIA

833.20

834.65

830.90

827.15

842.15

846.85

851.55

1256.35

1255.85

1249.50

1243.15

1268.50

1273.95

1279.35

+ve

664.40

663.65

659.25

654.80

672.45

674.00

675.50

+ve

HCL TECH
HDFC BANK
HDFC
HERO MOTO

797.90

796.75

793.70

790.65

802.85

806.40

809.90

2069.00

2061.30

2051.30

2041.35

2081.20

2091.15

2101.15

-ve
+ve

+ve
Neutral

HEXAWARE TECH.

136.80

134.85

133.60

132.30

137.05

138.15

139.25

HINDALCO

116.05

114.40

113.80

113.20

116.35

117.35

118.35

-ve
-ve

HIND. UNILEVER

558.95

554.65

552.75

550.85

559.60

562.10

564.55

-ve

HPCL

221.65

219.05

217.00

215.00

222.25

223.85

225.50

-ve

HINDUSTAN ZINC

126.10

124.10

122.75

121.35

126.30

127.40

128.45

-ve

HDIL
ICICI BANK
IDBI

52.20

51.00

50.65

50.30

52.45

53.15

53.85

1050.00

1047.20

1038.35

1029.50

1064.85

1073.35

1081.80

-ve
+ve

64.25

63.35

63.05

62.70

64.50

65.05

65.65

IDEA CELLULAR

162.10

161.45

160.00

158.50

164.35

165.40

166.45

+ve

IDFC

103.75

102.90

102.45

101.95

103.95

104.45

105.00

-ve

25.10

24.65

24.55

24.45

25.10

25.35

25.60

-ve

3288.10

3263.25

3235.00

3206.75

3291.50

3305.60

3319.75

418.85

418.00

415.35

412.75

423.25

424.70

426.20

IFCI
ORACLE FIN.
INDUSIND BANK
INDIA CEMENTS
INDRAPRASTHA GAS
INDIAN HOTELS
IOC

ICICI Securities Ltd. | Retail Equity Research

-ve

-ve
+ve

59.10

58.75

58.30

58.00

59.65

60.15

60.45

268.50

267.35

264.85

262.35

272.35

275.15

277.95

Neutral

59.30

58.85

58.45

58.00

59.40

59.70

60.00

-ve

199.75

196.90

196.00

195.15

200.35

202.05

203.80

-ve

+ve

Page 10

SCRIP

CLOSE

S1

S2

S3

R1

R2

R3

TREND

IOB

49.90

49.05

48.80

48.50

49.90

50.35

50.75

IB REAL ESTATE

66.55

65.60

65.10

64.65

66.80

67.40

68.00

-ve

3457.15

3427.25

3399.30

3371.30

3466.85

3486.65

3506.45

-ve

INFOSYS
IRB INFRA.

-ve

92.20

91.30

90.60

89.85

92.50

93.10

93.65

316.70

316.15

315.00

313.85

318.50

319.30

320.10

IVRCL

15.85

15.55

15.40

15.20

15.95

16.15

16.35

-ve

JAIPRAKASH ASS.

50.60

49.80

49.40

48.95

50.85

51.40

51.90

-ve

JAIPRAKASH HYDRO

18.15

17.90

17.75

17.60

18.20

18.40

18.55

-ve

JAIN IRRIGATION

70.30

68.90

67.80

66.65

70.50

71.25

72.05

-ve

JINDAL ST&POW

256.80

253.85

252.00

250.15

257.50

259.30

261.15

-ve

51.45

50.35

49.90

49.40

51.70

52.40

53.05

-ve

NSE JSW STEEL

1027.55

1012.30

1000.40

988.50

1028.40

1036.45

1044.50

-ve

JUBILANT FOOD

1242.40

1230.60

1223.60

1216.60

1246.35

1254.25

1262.10

-ve
-ve

ITC

JSW ENERGY

KARNATAKA BANK

108.05

106.30

105.70

105.05

108.25

109.20

110.20

KOTAK MAH.BANK

708.15

700.45

697.60

694.75

707.95

711.70

715.45

1019.50

1019.10

1014.00

1008.90

1029.35

1035.80

1042.30

L&T

-ve
+ve

-ve
+ve

LIC HOUSING

209.70

205.70

204.40

203.10

210.10

212.30

214.50

-ve

NSE LUPIN

932.90

923.35

918.85

914.35

934.70

940.40

946.05

-ve

M&M

903.10

901.75

897.25

892.80

910.75

915.10

919.50

+ve

MARUTI SUZUKI

1845.75

1842.90

1834.35

1825.80

1859.95

1869.80

1879.60

+ve

UNITED SPIRITS

2712.05

2672.05

2658.20

2644.40

2709.00

2727.50

2746.00

315.50

314.35

312.15

309.55

318.75

320.95

323.50

19120.35

18967.60

18869.15

18770.70

19164.60

19263.05

19361.55

145.95

143.45

142.55

141.70

146.90

148.60

150.35

18.70

18.60

18.55

18.45

18.80

18.90

18.95

Neutral

NMDC

136.15

135.40

134.35

133.50

137.55

138.65

139.45

Neutral

NSE NTPC

129.85

128.65

127.95

127.30

130.30

131.10

131.95

-ve

ONGC

276.25

273.25

271.00

268.75

277.15

279.10

281.10

-ve

MCLEOD RUSSEL
MRF
ADANI PORTS SEZ
NSE NHPC

OPTO CIRCUITS

-ve
Neutral
-ve
-ve

27.80

27.55

27.25

26.85

28.15

28.45

28.85

OBC

211.30

206.35

204.65

203.00

211.25

213.70

216.15

PETRONET LNG

121.15

119.90

118.95

118.05

121.55

122.40

123.20

-ve

POWER FINANCE

152.95

149.40

148.55

147.70

154.15

156.50

158.90

-ve

POWER GRID

98.80

98.25

97.75

97.30

98.95

99.30

99.70

-ve

POWER TRADING

60.30

59.30

58.35

57.45

60.60

61.25

61.90

-ve

ICICI Securities Ltd. | Retail Equity Research

Neutral
-ve

Page 11

SCRIP
PUNJ LLOYD

CLOSE

S1

S2

S3

R1

R2

R3

TREND

30.45

29.60

29.15

28.70

30.50

30.95

31.40

PNB

602.30

591.50

588.05

584.55

603.00

608.75

614.50

-ve

RANBAXY

480.40

471.20

468.35

465.50

480.45

485.05

489.70

-ve

RAYMOND

277.70

272.45

269.95

267.45

279.70

283.35

287.00

-ve

RCOM

129.65

127.85

126.80

125.75

129.75

130.65

131.60

-ve

REL. CAPITAL

354.70

350.50

347.05

343.60

355.70

358.30

360.90

-ve

RELIANCE INFRA.

404.60

399.45

397.35

395.25

406.15

409.50

412.80

-ve

RELIANCE

842.10

834.80

831.20

827.65

844.75

849.70

854.70

-ve

RELIANCE POWER

69.15

68.15

67.75

67.35

69.30

69.90

70.50

-ve

RENUKA SUGAR

21.85

21.60

21.00

20.35

22.85

23.15

23.45

+ve

203.00

200.35

198.95

197.55

204.10

205.95

207.85

69.75

68.70

68.00

67.25

70.10

70.85

71.55

-ve

SESA GOA

194.50

191.65

190.75

189.80

195.50

197.40

199.30

-ve

SHRIRAM TRANS.

634.65

619.55

613.40

607.25

637.95

647.15

656.40

-ve

SIEMENS

624.60

622.10

619.25

615.85

627.85

630.70

634.10

Neutral

REC
SAIL

SINTEX IND.

-ve

-ve

39.85

39.45

38.60

37.75

41.20

41.60

42.05

1661.40

1643.60

1633.10

1622.60

1667.10

1678.85

1690.60

SUN PHARMA

594.20

594.15

591.70

589.25

599.05

602.15

605.25

SUN TV

374.15

370.10

367.40

364.70

374.60

376.85

379.10

-ve

92.10

90.35

89.65

88.95

92.30

93.30

94.25

-ve

SBI

SYNDICATE BANK

+ve
-ve
+ve

TATA CHEMICALS

263.80

262.80

261.35

260.45

265.65

267.05

268.00

Neutral

TATA MOTOR DVR

188.15

187.35

186.45

185.50

189.05

189.90

190.90

Neutral

TATA MOTORS

365.10

362.55

360.60

358.65

365.70

367.25

368.80

-ve

79.55

78.45

77.70

77.00

80.05

80.85

81.65

156.50

155.80

155.05

154.20

157.30

158.05

158.95

TATA POWER
TATA TEA

-ve
Neutral

TCS

2206.15

2184.60

2172.85

2161.10

2213.35

2227.70

2242.05

-ve

TECH MAHINDRA

1804.05

1784.90

1776.55

1768.15

1804.60

1814.45

1824.25

-ve

TATA STEEL

394.70

387.55

384.75

382.00

397.20

402.05

406.90

-ve

TITAN IND.

226.05

223.60

222.40

221.25

226.65

228.15

229.70

-ve

UCO BANK

76.20

74.75

74.25

73.70

76.10

76.75

77.40

-ve

1690.20

1669.90

1663.45

1656.95

1696.25

1709.40

1722.55

-ve

ULTRATECH CEMENT
UBI

123.90

121.90

120.85

119.80

124.25

125.45

126.65

-ve

UNITED PHOSPH.

201.75

201.15

200.15

198.35

203.15

204.15

205.95

Neutral

14.90

14.70

14.60

14.55

14.95

15.10

15.25

UNITECH

ICICI Securities Ltd. | Retail Equity Research

-ve

Page 12

SCRIP

CLOSE

AXIS BANK

S1

S2

S3

R1

R2

R3

TREND

1234.25

1211.25

1206.15

1201.05

1236.40

1248.95

1261.55

TATA COMM.

314.40

310.60

307.45

304.95

317.00

320.20

322.65

Neutral

-ve

VOLTAS

120.80

120.10

119.15

116.95

121.95

122.85

125.05

Neutral

WIPRO

550.20

543.90

541.45

539.00

550.75

554.15

557.60

-ve

YES BANK

365.15

360.00

357.85

355.70

364.80

367.20

369.60

-ve

ZEE

285.70

281.75

277.65

273.60

286.15

288.35

290.55

-ve

NOTES:

Please execute the recommendation within the levels provided in the report
Once the recommendation is executed, it is advisable to keep strict stop loss as provided in the report
Avoid entering into the recommendation in the first 5 minutes of trade
If the recommendation opens near the target levels due to gap up/gap down opening, then the
recommendation is considered not initiated
The recommendations are valid only for the day and should be squared off by the end of the day
Only stocks in derivatives segment have been considered for daily trading
Medium to long-term prospects of a stock does not have any bearing on the daily view

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
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 each recommendation

ICICI Securities Ltd. | Retail Equity Research

Page 13

Recommended Trading Portfolio allocation

Products

Allocations
Product wise
Max allocation
allocation
in 1 stock

Return Objective
Number of Calls

Frontline Stocks

Mid-cap stocks

Duration

Daily Calls

8%

2-3%

3-4 Stocks

0.50-1%

2-3%

Intraday

Short term Delivery

6%

3-5%

7-10 p.m

4-5%

7-10%

Opportunity based

Weekly Calls

8%

3-5%

1-2 Stocks

5-7%

7-10%

1 Week

Weekly Technical

8%

3-5%

1-2 Stocks

5-7%

7-10%

1 Week

Monthly Call

15%

5%

2-3 Stocks

7-10%

10-15%

1 Month

Monthly Technical

15%

2-4%

5-8 Stocks

7-10%

10-15%

1 Month

Techno Funda

15%

5-10%

1-2 Stocks

10% and above

15% and above

6 Months

Technical Breakout

15%

5-10%

1-2 Stocks

10% and above

15% and above

3-6 Months

Cash in Hand

10%

100%

ICICI Securities Ltd. | Retail Equity Research

Page 14

Candlesticks Glossary:
Candlestick 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

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 prices
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
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

ICICI Securities Ltd. | Retail Equity Research

Page 15

Pankaj Pandey

Head Research

pankaj.pandey@icicisecurities.com

ICICIdirect.com Research Desk,

ICICI Securities Limited,
1st Floor, Akruti Trade Centre,
Road No 7, MIDC
Andheri (East)
Mumbai 400 093
research@icicidirect.com

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date of release of this report. I-Sec may be holding a small number of shares/position in the above-referred companies as on date of release of this report. This report is based on information obtained from public
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may 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. Nothing in this report constitutes investment, legal, accounting and
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ICICI Securities Ltd. | Retail Equity Research

Page 16