DAILY REPORT

08th AUGUST 2014

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Global markets at a glance

Asian shares barring Nikkei retreated while investors flocked to safe haven assets such as bonds and gold on Thursday, spooked by a Russian troop build-up on the bor-der with Ukraine and tit-for-tat economic sanctions be-tween the West and Moscow. Sentiment soured further in Asia after the Australian dollar, seen as a barometer of risk appetite, sank after Australia's unemployment rate jumped unexpectedly to a 12-year high, sparking talk of an interest rate cut there. Japan's Nikkei gained 0.4%. However, Hang Seng dipped 0.8%. Asian shares tumbled on Friday as inves-tors sought out safe-haven assets on growing fears that conflicts in Ukraine and the Middle East could sap global growth, extending losses after U.S. President Obama said he had authorized air strikes in Iraq.

European shares were also trading weak as investors turned cautious on concerns over the emerging tensions between Ukraine and Russia. The CAC-40, DAX and FTSE-100 were down 0.2-0.4%.

Wall Street

Stocks ended lower yesterday, continuing a recent streak of weakness as Russia's surprisingly harsh retaliatory meas-ures in response to Western sanctions raised concerns about global growth. The DJI average fell 75.07pts, or 0.46%, to 16,368.27, S&P 500 ended down 10.67pts, or 0.56 %, to 1,909.57,Nasdaq lost 20.09pts, or 0.46 %, to 4,334.97.

Previous day Roundup

Benchmark share indices ended lower on Thursday, amid a volatile trading session, with IT majors declining the most after the rupee appreciated against the US dollar and lower revenue growth guidance from its competitor Cogni-zant. The S&P BSE Sensex lost 76 points to end at 25,589 while the CNX Nifty shed 23 points to end at 7,649. The broader markets ended in line with the large counterparts. BSE Midcap and Smallcap indices slipped by 0.5%, each.

ndex stats

The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [up 64.03pts], Capital Goods [down 38.88pts], PSU [up 21.34pts], FMCG [down 9.48pts], Auto [down 14.21pts], Healthcare [down 22.17pts], IT [down 125.82Pts], Metals [down 19.21pts], TECK [down 63.35 pts], Oil& Gas [up 49.10 pts], Power [down 6.61pts], Realty [down 6.52pts].

World Indices

Index Value % Change

D J l 16368.27 -0.46

S&P 500 1909.57 -0.56

NASDAQ 4334.97 -0.46

EURO STO 3012.88 -1.23

FTSE 100 6597.37 -0.58

Nikkei 225 14812.61 -2.76

Hong Kong 24225.04 -0.67

Top Gainers

Company CMP Change % Chg

INFY 3,560.00 47.00 1.34

POWERGRID 134.15 1.70 1.28

ASIANPAINT 640.00 6.60 1.04

M&M 1,240.00 9.90 0.80

RELIANCE 990.05 6.20 0.63

Top Losers

Company CMP Change % Chg

ITC 345.35 10.65 -2.99

PNB 950.00 26.50 -2.71

ICICIBANK 1,446.80 39.75 -2.67

SSLT 287.70 7.20 -2.44

AXISBANK 383.70 9.25 -2.35

Stocks at 52 Weeks high

Symbol Prev. Close Change %Chg

ASIANPAINT 640.00 6.60 +1.04

DABUR 204.90 2.05 +1.01

HINDUNILVR 707.00 2.15 +0.31

TATACHEM 374.35 2.15 +0.57

TECHM 2187.70 12.30 +0.56

Indian Indices

Company CMP Change % Chg

NIFTY 7672.05 -74.50 -0.96

SENSEX 25665.27 -242.74 -0.94

Stocks at 52 Weeks Low

Symbol Prev. Close Change %Chg

BHUSANSTL 305.00 76.20 -19.99

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STOCK RECOMMENDATIONS [FUTURE]

1. PNB FUTURE

PNB FUTURE is looking week on charts, short build up has been seen, we may see more downside, if it sustains below 960 levels. We advise selling around 960-970 levels with strict stop loss of 985 for the targets of 950-935 levels.

2. ICICI BANK FUTURE

ICICI BANK is looking week on charts, short build up has been seen, we may see more downside, if it sustains below 1440 levels. We advise selling around 1440 levels with strict stop loss of 1480 for the targets of 1400-1360 levels.

EQUITY CASH & FUTURE

STOCK RECOMMENDATION [CASH]

1. TATA SPONGE

TATASPONGE week on daily chart. We advise selling

around 860 level with strict stop loss 876 for the targets of

844-828

MACRO NEWS

Results Today: SBI , M&M , Corporation Bank , Sun TV ,

Chambal Fertilizers , Bajaj Hindusthan , Sobha Develop-

ers , Essar Shipping, PC Jeweller, NDTV, Wonderla Holi-

days, Lumax Auto Tech, Marico Kaya Enterprises, LT

Foods, Kesoram Industries, KEI Industries, IL&FS Engineer-

ing, Gujarat State Fertilizers & Chemicals, Gammon Infra-

structure, Gabriel India, Finolex Cables, Birla Corp.

India's contribution to the World Market cap has climbed

up to 2.3%, which is above its long period average, for the

first time since Jan-13. As per latest data, India's market

cap-to-GDP ratio is at an attractive 70% compared to its

long-period average of 72%.

FII ban revocation applicable from date of FDI press note -

Cabinet approves FII cap in defence at 24 percent.

PTC India Financial Services approves loans of over Rs

1,000 crore to power projects

Government cancels auction of 3 coal blocks.

JubilFood Q1 net down 19%, same store sales contracts.

ApolloTyres approves raising of funds up to USD 200 mn.

Havells India board approves sub-division of nominal val-

ues of equity shares from face value of Rs 5 to Re 1.

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FUTURE & OPTION

MOST ACTIVE PUT OPTION

Symbol Op-

tion

Type

Strike

Price

LTP Traded

Volume

(Contracts

)

Open

Interest

NIFTY PE 7,700 100.05 3,44,272 34,85,550

NIFTY PE 7,600 62.15 3,10,925 56,11,650

NIFTY PE 7,500 37.1 2,37,244 57,76,400

BANKNIFTY PE 15,000 248 20,922 2,69,275

INFY PE 3,500 55 2,506 94,375

RELIANCE PE 1,000 24.9 2,398 4,59,750

SBIN PE 2,400 58.45 1,769 1,92,250

HEROMOTOCO PE 2,500 35.35 1,334 62,750

MOST ACTIVE CALL OPTION

Symbol Op-

tion

Type

Strike

Price

LTP Traded

Volume

(Contracts)

Open

Interest

NIFTY CE 7,800 53.75 3,44,226 43,45,400

NIFTY CE 7,900 26.3 2,99,218 42,34,750

NIFTY CE 8,000 12 2,38,466 61,37,150

BANKNIFTY CE 16,000 42 28,883 4,27,775

RELIANCE CE 1,000 19.2 7,394 11,52,500

INFY CE 3,600 65.65 4,617 2,44,750

SBIN CE 2,500 52.7 3,422 8,92,750

LT CE 1,500 34 3,055 5,49,000

FII DERIVATIVES STATISTICS

BUY OPEN INTEREST AT THE END OF THE DAY SELL

No. of

Contracts Amount in

Crores No. of

Contracts Amount in

Crores No. of

Contracts Amount in

Crores NET AMOUNT

INDEX FUTURES 42834 1645.67 53819 2064.98 265064 10141.58 -419.32

INDEX OPTIONS 411335 15743.34 397310 15239.14 1320649 50475.29 504.20

STOCK FUTURES 59258 2213.39 52370 2003.00 1369944 48977.85 210.38

STOCK OPTIONS 48805 1821.18 49789 1851.74 61928 2223.01 -30.56

TOTAL 264.70

INDICES R2 R1 PIVOT S1 S2

NIFTY 7,772.65 7,722.35 7,690.65 7,640.35 7,608.65

BANK NIFTY 15,333.02 15,170.83 15,077.17 14,914.98 14,821.32

STOCKS IN NEWS

Jet Airways to sell its low cost arm JetLite.

Essar to shut 40k bpd crude unit for 7 days in Aug sec-

ond half.

India Cements Q1 cuts loss to Rs 3 cr, OPM up 360 bps

QoQ

RCom receives Rs 650cr from promoter group.

Bharti Airtel to complete sale of Africa towers biz.

NIFTY FUTURE

Nifty Future closed downside in the last trading session.

We advise selling around 7650 level with strict stop loss

of 7700 for the targets of 7600-7550

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COMMODITY MCX

RECOMMENDATIONS

SILVER

TRADING STRATEGY:

BUY SILVER SEP ABOVE 44050 TGTS 44250,44550 SL 43750

SELL SILVER SEP BELOW 43730 TGTS 43530,43230 SL 44050

GOLD

TRADING STRATEGY:

BUY GOLD OCT ABOVE 28850 TGTS 28930,29030 SL 28750

SELL GOLD OCT BELOW 28750 TGTS 28670,28570 SL 28850

COMMODITY ROUNDUP

Silver prices moved up by 0.26% to Rs 44,036 per kg in

futures trade yesterday as speculators enlarged posi-

tions, supported by a firming global trend. At the MCX,

silver for delivery in September advanced by Rs 116, or

0.26% to Rs 44,036 per kg in business turnover of 1,979

lots. In a similar fashion, the white metal for delivery in

far-month December gained Rs 100, or 0.22% to Rs

44,803 per kg in 24 lots. Speculators enlarged positions in

tandem with a firming global trend, mainly led to the rise

in silver prices at futures trade. Meanwhile, silver rose

0.2% to USD 20.08 an ounce in Singapore.

Zinc futures prices yesterday edged up by 0.14% to Rs

144.80 per kg after speculators built-up positions amid a

firming trend in the spot market on good demand. Be-

sides, metal's strength at LME supported the upside. At

the Multi Commodity Exchange, zinc for delivery in Au-

gust edged up by 20 paise, or 0.14%, to Rs 144.80 per kg

with a business turnover of 292 lots.

The metal for delivery in September rose by a similar

margin to trade at Rs 145.20 per kg in a business turn-

over of 10 lots. Fresh positions created by speculators on

the back of improved demand in the spot market and a

firming trend in base metals overseas, helped zinc fu-

tures to trade higher.

Crude prices rose on Thursday after data revealed fewer

in the U.S. sought first-time unemployment assistance

last week, which enticed bottom fishers who felt the

commodity had fallen too far on supply concerns. In the

New York Mercantile Exchange, West Texas Intermediate

crude oil for delivery in September traded up 0.32% at

$97.23 a barrel during U.S. trading.

New York-traded oil futures hit a session low of $96.56 a

barrel and a high of $97.48 a barrel. The September con-

tract settled down 0.47% at $96.92 a barrel on Wednes-

day. Nymex oil futures were likely to find support at

$96.26 a barrel, the low from Feb. 3, and resistance at

$102.10 a barrel, the high from July 28.

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RECOMMENDATIONS

DHANIYA

BUY DHANIYA AUG ABOVE 11450 TGTS 11600,11700 SL

11360

SELL ON RISE DHANIYA AUG 11840 TGTS 11700,11650 SL

11900

CHANA

BUY CHANA AUG ABOVE 2810 TGTS 2860,2910 SL 2775

SELL ON RISE AUG 2870 TGTS 2830,2800 SL 2910

NCDEX

NCDEX INDICES

Index Value % Change

Castor Seed 4222 -0.68

Chana 2842 +2.41

Coriander 11779 +0.17

Cotton Seed Oilcake 1671 -0.95

Guarseed 5000 -1.38

Jeera 11180 -0.18

Mustard seed 3541 -0.11

Soy Bean 3559 +0.03

Sugar M Grade 3053 -0.10

Turmeric 6700 +0.93

NCDEX ROUNDUP

Global food prices hit a six-month low in July led mainly

by sharp declines in grains, oilseeds and dairy, which bal-

anced out rising meat and firm sugar prices. The Food and

Agriculture Organisation's (FAO) price index, which meas-

ures monthly price changes for a basket of cereals, oil-

seeds, dairy, meat and sugar, averaged 203.9 points in

July, down 4.4 points or 2.1 % from June.

The overall monsoon deficit was lowered in July but even

after covering lost ground, the shortfall in tea likely to be

35-40 million kg at the end of September. According to

recently-released Tea Board figures, Assam recorded a

lower crop of four million kg during the month of June. A

lower crop has resulted in higher prices.

This year, maize sowing has been delayed due to the late

arrival of the monsoon. But, it has picked up pace and it is

expected that this season, the area under the crop will

stand at about seven million hectares. In 2013-14, India

recorded an all-time high kharif maize production of 17.51

million tonnes (mt). However, there is apprehension pro-

duction in other states, especially Andhra Pradesh, Ma-

harashtra and Gujarat, which have received scanty rain-

fall, might be hit.

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EUR/INR

BUY EUR-INR ABOVE 82.54 TG 82.74,83.04 SL 82.34

SELL EUR-INR BELOW 81.94 TG 81.74,81.44 SL 82.30

GBP/INR

BUY USD -INR ABOVE 61.97 TG 62.17,62,47 SL 61.37

SELL USD-INR 61.19 BELOW TG 60.99,60.70 SL 61.51

CURRENCY ROUNDUP

The yen had shown some strength overnight but the rupee

ended at days lows. It slipped to multi-month lows against

the dollar. Strong demand for the dollar forced the rupee to

slide to its lowest levels in five months.

The Indian rupee posted its biggest single-day fall in six-and-

half months on Wednesday as heavy dollar outflows from

the domestic share and debt markets continued as foreign

investors pared their holdings. Foreign funds have sold

$363.48 million worth equities and $440.15 million worth of

debt so far this month, bringing down total inflows so far

this year to $25.60 billion. The sales come on the back of

weaker global markets, with risk assets hit on Wednesday

on reports of a build-up of Russian troops near the border

with Ukraine. The risk aversion offset expectations the Re-

serve Bank of India would continue to focus on bringing

down inflation to meet its goal of reducing the consumer

price index to 6 percent by January 2016, which is expected

to be supportive of the rupee. The partially convertible ru-

pee closed at 61.4950/5050 per dollar compared to

60.8450/8550 on Tuesday. The rupee dropped 1.06 percent

on the day, its biggest single-day fall since Jan. 24 and its

second-biggest fall so far in 2014. Losses in the rupee

tracked weaker Indian shares and other Asian currencies. In

the offshore non-deliverable forwards, the one-month con-

tract was at 61.92 while the three-month was at 61.56.

The euro nursed broad losses early on Thursday after a

batch of disappointing data from Italy and Germany soured

sentiment for the currency just hours ahead of a policy re-

view by the European Central Bank.

Oil prices fell on Wednesday as abundant supplies in the US

drove the U.S. contract to its lowest close in six months,

while Brent prices floundered near nine-month lows. U.S.

Treasuries prices got a strong lift on Wednesday from rising

tensions over Ukraine that stung global financial markets

but they ended with just modest gains.

CURRENCY

RBI Reference Rate

Currency Rate Currency Rate

Rupee- $ 61.3360 Yen-100 59.8000

Euro 819630 GBP 103.4970

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CALL REPORT

PERFORMANCE UPDATES

Date Commodity/ Currency

Pairs Contract Strategy Entry Level Target Stop Loss Remark

07/08/14 MCX GOLD OCT. BUY 28750 28830-28930 28650 BOOKED PROFIT

07/08/14 MCX GOLD OCT. SELL 28530 28450-28350 28630 NOT EXECUTED

07/08/14 MCX SILVER SEP. BUY 44200 44500-44800 43900 NOT EXECUTED

07/08/14 MCX SILVER SEP. SELL 43850 43650-43350 44150 BOOKED PROFIT

07/08/14 NCDEX GUARSEED AUG. BUY 5085 5115-5165 5035 NOT EXECUTED

07/08/14 NCDEX GUARSEED AUG. SELL 5045 5015-4965 5095 BOOKED FULL

PROFIT

07/08/14 NCDEX DHANIYA AUG. BUY 11800 11830-11880 11750 BOOKED FULL

PROFIT

07/08/14 NCDEX DHANIYA AUG. SELL 11730 11700-11650 11780 BOOKED FULL

PROFIT

07/08/14 USD/INR JULY BUY 61.97 62.17-62.47 61.37 NOT EXECUTED

07/08/14 USD/INR JULY SELL 61.19 60.99-60.70 61.51 NOT EXECUTED

07/08/14 EUR/INR JULY SELL 81.94 81.74-81.44 82.30 NOT EXECUTED

07/08/14 EUR/INR JULY BUY 82.54 82.74-83.04 82.34 SL TRIGGERED

Date Scrip

CASH/

FUTURE/

OPTION

Strategy Entry Level Target Stop Loss Remark

07/08/14 NIFTY FUTURE SELL 7670 7620-7570 7220 SL TRIGGERED

07/08/14 PNB FUTURE SELL 960-970 950-935 985 BOOKED FULL

PROFIT

07/08/14 ICICIBANK FUTURE SELL 140 1400-1360 1480 NOT EXECUTED

07/08/14 PATEL ENG CASH BUY 115 117-119 113 SL TRIGGERED

05/08/14 CESC FUTURE SELL 680 700715 665 CALL OPEN

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NEXT WEEK'S U.S. ECONOMIC REPORTS

ECONOMIC CALENDAR

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Disclaimer

TIME (ET) REPORT PERIOD ACTUAL CONSENSUS

FORECAST PREVIOUS

MONDAY, AUG. 4

NONE SCHEDULED

TUESDAY, AUG. 5

10 AM ISM NONMANUFACTURING JULY -- 56.0%

10 AM FACTORY ORDERS JUNE -- -0.5%

WEDNESDAY, AUG. 6

8:30 AM TRADE DEFICIT JUNE -- -$44.4 BLN

THURSDAY, AUG. 7

8:30 AM WEEKLY JOBLESS CLAIMS AUG. 2 -- N/A

3 PM CONSUMER CREDIT JUNE -- $19.6 BLN

FRIDAY, AUG. 8

8:30 AM PRODUCTIVITY Q2 -- -3.2%

8:30 AM UNIT LABOR COSTS Q2 -- 5.7%

10 AM WHOLESALE INVENTORIES JUNE -- 0.5%

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