Mayy 11,, 2015

Weekly Call

Research Analysts
Dharmesh Shah
Nitin Kunte, CMT
Dipesh Dagha
Pabitro Mukherjee
Vinayak Parmar

dharmesh.shah@icicisecurities.com
nitin.kunte@icicisecurities.com
dipesh.dagha@icicisecurities.com
pabitro.mukherjee@icicisecurities.com
vinayak.parmar@icicisecurities.com

Weekly
Calls
Deal Team
At Your Service

Adani Ports & SEZ (MUNPOR)

Code

MUNPOR

CMP

| 335.10

Comment

Appears breaking
A
b ki above
b
itits
triangular consolidation phase.

Action

Buy in the range of 325-328

Reco. Date

11th May2015

S
Stop-loss
l

| 309

Targets

| 365 / higher

Source: ASA, ICICIdirect.com Research

Weekly
Calls
Deal Team
At Your Service

Phoenix Lamps (PHOLAM)

Code

PHOLAM

CMP

| 120.85

Comment

Breaks
B
k Wedgelike
W d lik corrective
ti
phase with higher volume.

Action

Buy in the range of 109-111

Reco. Date

11th May2015

S l
Stop-loss

| 102

Targets

| 128 / higher

Source: ASA, ICICIdirect.com Research

Deal Team
At Your Service
Weekly
Calls

UPL (UNIP)
Code

UNIP

CMP

| 506.55

Comment

Sharp bounce
Sh
b
ffrom it
its previous
i
resistance is a positive sign.

Action

Buy in the range of 493-498

Reco. Date

11th May2015

St l
Stop-loss

| 470

Targets

| 540 / higher

Source: ASA, ICICIdirect.com Research

Trend Scanner

Deal Team At Your Service

Positive Trends

Candlestick Pattern

Scrip Name

Close

Shivam Autotech

117.8

50 days EMA
89.0

100 days EMA

81.0

Delivery % 5 days Averge

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

Negative Trends
Scrip Name

Close

50 days EMA

100 days EMA

Delivery % 5 days Averge

Exide Inds

153.4

177.0

176.0

PNB

145 7
145.7

164 0
164.0

172 0
172.0

47.00
22 00
22.00

Jindal Steel & Power

133.7

156.0

164.0

21.00

Bullish Candlestick Formations

Bearish Candlestick Formations

Scrip Name

Pattern name

LTP

Scrip Name

Pattern name

LTP

Bharti Airtel

Piercing Line

Oberoi Realty

Morning Star

398.0

PNB

Enguling Bear

145.7

305.8

Marico

Enguling Bear

369.5

Gillette

Morning Star

4535.8

IOB

Enguling Bear

40.5

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
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 of
various technical parameters applied on a group of NSE cash stocks. The query modules are designed to recognise stocks, which are either at attractive
technical entry levels based on overall price structure or resolving out of medium term consolidation. Consequently the query modules are also aimed at
identifying 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 as
an 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. More
importance needs to be given to the placement of the pattern within larger trend. A more detailed description of Candlestick patterns and the way to
understand them is listed at the end of the report

Source: Bloomberg, ICICIdirect.com Research

Market Activity
Domestic Sectoral Indices Performance

Gl b l Markets
Global
M k ts

5,090.4
0.9%

US

2,116.1
0.4%

Japan

19,379.2
-0.8%

Hong Kong

27,577.3
-2.0%

China

4,205.9
-5.3%

Global Currencies, Commodities & Bond Yields

Japanese Yen
Gold/ounce
Brent Crude/barrel
India 10 year
EURO 10 Year

-0.8%
1.12
-0.3%
119.85
-0.2%
1,189.20
0.5%
65.53
-1.1%
7.98
11.6 bps
0.55
17.6 bps

Dollar Index
British Pound
Swiss Franc
Copper (tonne)
Silver (ounce)
US 10 Year
JPY 10 Year

95 08
95.08
-0.2%
1.54
1.8%
0.93

9960.11
7750.07
16225.73
10579.18
9952.55
9240.02
2031.82
1589.28
10663.02
10236.21
10829.06

-4.0
1.9
0.2
1.6
1.5
0.4
-3.0
1.0
-0.3
-1.7
-1.1

-4.0
1.9
0.2
1.6
1.5
0.4
-3.0
1.0
-6.4
-1.7
-1.1

-3.7
0.0
0.0
0.0
-2.0
-8.4
-3.4
-9.0
-4.2
0.0
0.0

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

0.0%
6,391.50

Nifty Gainers / Losers for the week (%)

-0.3%
16.4

8.00

1.0%

8.9

2.13

5.3

5.1

4.4

0.00

1.8 bps

-4.8

-5.5

-8.8

-14.1

8 00
-8.00

0.39

-16.00

3.6 bps

BAJAJ-AUTO

Euro

63 94
63.94

Cons durables
FMCG
Healthcare
IT
Metal
Oil & gas
Power
Realty
BSE 500
BSE midcap
BSE small cap

% Change

Rupee (|)

3M
-5.6
-5.4
-3.6
-5.3
-33.22

BANKBARODA

France

1M
0.3
0.1
0.2
-3.0
-22.00

PNB

7,046.8
0.9%

1Wk
0.3
0.1
0.2
-3.0
-22.00

NTPC

UK

Current
27105.39
8191.5
18369.63
20389.59
16192 78
16192.78

AXISBANK

57,149.3
1.6%

Source: Bloomberg, ICICIdirect.com Research

BHARTIARTL

Brazil

HCLTECH

11,709.7
2.2%

HINDUNILVR

Germany

INDICES
Sensex
Nifty
Auto
Banking
Capital goods

Market Activity
Deal Team At Your Service
Institutional flow trends of last 12 months
DII

9244

3940

4309

880

11366

559

26000
25000

-6553

120788

11476

2132 7037

12919

1677
13753

28000
27000

-1172

-1000

5940

5103 41722

5430

4000

13110

13991

9000

30000

Sensex

29000

6957

14000

FII

5064

3340

19000

24000

May'15

Apr'15

Mar'15

Feb'15

Jan'15

Dec'14

Nov'14

Oct'14

Sep'14

June'14

Aug'14

23000

July'14

-6000

Weekly market breadth trends

Advance %

Decline %

Sensex

27459

28260

28879

37%
63%
%

69%
31%

62%
38%
%

49%
%
51%
%

42%
%
58%
%

20%

27438

41%
59%
%

40%

29500
27459

13-Mar-15

20-Mar-15

27-Mar-15

3-Apr-15

10-Apr-15

17-Apr-15

24-Apr-15

0%

Week Ended

Source: Bloomberg, ICICIdirect.com Research

27011

27105

28000
26500

51%
49%

28261

49%
51%

28503

60%

43%
57%
%

Perccentage

80%

1-May-15

8-May-15

25000
23500

Previous
Weeks
Deal Team
AtPerformance
Your Service
Date
4-May
4-May

Scripp
Bank of India
Kitex Garments

Product
Cash
Cash

Strategy
gy
Buy
Buy

RP
215.00
806.00

Target
g
236.00
915.00

SL
202.00
750.00

Gain/Loss
/
%
-6.00

Comment
Stoploss Triggered
Open

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

15 2015)
COMPANY

CMP

PIVOT

S1

S2

R1

R2

NIFTY

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

BHEL

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
369.10

366 97
366.97

359 48
359.48

349 87
349.87

376 58
376.58

384 07
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

Source: NSE India, ICICIdirect.com Research

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

CMP

PIVOT

S1

S2

R1

R2

HINDALCO

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
1957.95

1957 22
1957.22

1910 73
1910.73

1863 52
1863.52

2004 43
2004.43

2050 92
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
3610.55

3656 85
3656.85

3473 70
3473.70

3336 85
3336.85

3793 70
3793.70

3976 85
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

Source: NSE India, ICICIdirect.com Research

Forthcoming Economic Events Calendar

Deal Team At Your Service

Date

Event

US
11-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

India
12-May

Industrial Production YoY

12-May

CPI YoY

14-May

Wholesale Prices YoY

China
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

UK
11-May

BOE Asset Purchase Target

11 May
11-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

Source: Bloomberg, ICICIdirect.com Research

10

Notes

Deal Team At Your Service

Please
Pl
execute the
h recommendation
d i within
i hi the
h prescribed
ib d range provided
id d iin the
h 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
Within
Withi each
h product
d t segmentt it is
i advisable
d i bl to
t allocate
ll
t equall amountt to
t each
h recommendation
d ti
For example: The Daily Calls product carries 3 to 4 intraday recommendations. It is advisable to allocate equal amount to each
recommendation

11

Recommended Product wise Trading Portfolio allocation

Deal Team At Your Service

12

Candlesticks Glossary:

Deal Team At Your Service

Candlestick patterns describe the market sentiment for the specified period
period. Some of the formations suggest reversal of sentiment (trend) and,
and therefore,
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
pp
for prices
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

13

Pankaj Pandey

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

pankaj.pandey@icicisecurities.com

Disclaimer

ANALYST CERTIFICATION
We /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
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b k and
bank
dh
has its
i various
i
subsidiaries
b idi i engaged
d iin b
businesses
i
off h
housing
i fi
finance, asset management, life
lif iinsurance, generall iinsurance, venture
capital fund management, etc. (associates), the details in respect of which are available on www.icicibank.com.
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Disclaimer
ICICI 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
necessarily
il a guide
id tto ffuture
t
performance.
f
IInvestors
t
are advised
d i d tto see Ri
Riskk Di
Disclosure
l
D
Documentt tto understand
d t d th
the risks
i k associated
i t d before
b f
investing in the securities markets. Actual results may differ materially from those set forth in projections. Forward-looking statements are not
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connection with preparation of the research report. Accordingly, neither ICICI Securities nor Research Analysts have any material conflict of
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interest
at the
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off publication
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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.
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