1. Healthcare

Daily Calls
February 6, 2015
Market Outlook
Domestic Indices
Indices
Close
Change
Change%
28850.97
-32.14
-0.11
8711.70
-12.00
-0.14
8751.30
-25.05
-0.29
S&PBSE 500
11203.24
S&PBSE Midcap
10603.57
-48.99
-137.81
-0.44
-1.28
S&PBSE Smallcap
11283.14
-149.26
-1.31
S&P BSE Sensex
CNX Nifty
Nifty future
Sensex: We said, "Watch if the December top provides some support..." Initially holding the December top of 28822, the index
was up 395 points. However, the support proved temporary. Reversing 526 points in late trade, the index finished 32 points
lower. Except IT, most sectors ended flat to negative. Power, realty and consumer durables lost 2%+ while the A/D ratio
worsened to 1:3.
The action formed a Bear candle with a large upper shadow, comprising a late sell-off from higher levels. Support at the
December top was broken but not closed below. Watch if bulls make another attempt today. Failure to respect the December top
as a support could lead to further slippage testing the 50% retracement level to the post January 14 rally.
Exhibit 1: Sensex – Daily Candlestick Chart
Global Indices
Indices
Close
17884.88
Dow Jones
Nasdaq
4765.10
6865.93
FTSE
DAX
10905.41
24770.12
Hang Seng
Nikkei
17646.09
8726.00
SGX Nifty
* Asian Market at 7:30 am.IST
Change
211.86
48.40
5.91
-5.91
-0.63
134.94
-23.00
Change%
1.20
1.03
0.09
-0.05
0.00
0.77
-0.26
Market Breadth
22
119
Unchg
NSE
BSE
852
Decline
304
Advance
0
1874
1023
500
1000
1500
2000
Recommendations for the day
1. Sell Nifty Feb Future in range of 8780-8785
2. Buy TCS above 2570.00
3. Buy Glenmark in range of 740.00-741.00
4. Sell Reliance Infra below 473.00
5. Sell Bank of India below 250.00
*All recommendations are of February Future
Source: ASA, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Exhibit 2: Nifty Future – Daily Candlestick Chart
CNX Nifty (Cash Levels) Technical Picture
Nifty
Trend
Intraday
Down
Trend Reversal
Short Term
Rangebound
8780
Support
8670-8640
8600
Resistance
8745-8780
8900
20 Days EMA
8657
200 days EMA
7862
Nifty Future Recommendations
CMP :
8751.30
Comment : Future premium decreased from 53 points to
40.Late the sell-off, NF now testing
retracement levels marked. Reverse if holds
around 8700
Action :
Sell in the range of 8780-8785
Targets :
8750/8730/Lower
Stop-loss :
8800.00
Source: ASA, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Page 2
Trend Scanner
Global Currencies
Spot
Positive Trends
Candlestick Patterns
Close
Prev.close
% Chg
Rupee (|)
61.739
61.754
0.02
Scrip Name
Close
% Change
10-day SMA
Delivery (%)
Dollar Index
93.604
93.569
0.04
Infosys Ltd
2193.80
2.38
2157.44
68.21
Euro
1.147
1.148
-0.08
Kajaria Ceramics Ltd
750.40
4.49
724.90
68.35
British Pound
1.533
1.533
0.01
Shree Cement Ltd
11001.85
2.93
10914.12
61.10
Japanese Yen
117.380
117.530
0.12
Gateway Distriparks Ltd
393.30
3.51
386.19
70.10
Australian ($)
0.783
0.780
0.37
Swiss Franc
0.923
0.921
-0.26
Closing Yield (%)
Previous Yield (%)
India 10 year
7.70
7.70
US 10 Year
1.82
1.82
EURO 10 Year
0.36
0.37
GBP 10 Year
1.54
1.53
JPY 10 Year
0.38
0.36
Commodities
US Dollar
Close
Prev. Close
%Chg
Gold/ounce
1265.65
1264.82
0.01
Copper /ton
5743.5
5732.75
-0.15
57.23
56.57
1.24
Brent Crude/barrel
Bearish Engulfing
Scrip Name
Close
Scrip Name
Shree Cement
10980.0
Jindal Saw
Jubilant FoodWorks
BPCL
HCL Technologies
Scrip Name
Close
% Change
10-day SMA
Delivery (%)
Bank of India
249.45
-2.96
276.44
23.21
Reliance Infrastructure Ltd
469.80
-5.62
489.89
25.48
Jindal Steel & Power Ltd
146.30
-4.88
154.92
41.56
Overbought Stocks
Glenmark
TCS
Jindal Steel & Power
145.5
Bank of India
247.8
2553.0
Reliance Infra
466.5
1075.2
ONGC
Evening Star
Stocks falling for 5 days & stochastic oversold
Stocks hitting 52 week high
Scrip Name
Scrip Name
Dabur India
United Phosphorus
Stochastic
26.0
743.5
Scrip Name
LTP
Stochastic
266.25
85.25
Bata India
1366
12.82
HCL Tech
417.4
88.09
Hindustan Unilever
908.5
17.08
Lupin
Thomas Cook
191.5
19.5
355.9
LTP
1965.85
1588.7
Ramco system
526.9
Tata Chemical
465.35
Wipro
FII
-27.4
1970.8
JP Associates
Note: For Candlestick pattern description refer towards the end of
the report.
Oversold Stocks
LTP
79.0
Bearish Continuation pattern
746.2
Piercing Line
Godrej CP
Close
1440.0
Stocks rising for 5 days & stochastic overbought
Institutional Activity
Cash Segment (| Cr)
5-Feb-15
Bearish Candlestick Formations
Bullish Engulfing
Bullish Continuation pattern
Negative Trends
Global Treasury Yields
Bullish Candlestick Formations
637.5
DII
325.6
4-Feb-15
-83.8
-72.4
3-Feb-15
-264.4
-137.3
2-Feb-15
-630.0
-224.1
30-Jan-15
-771.6
-37.6
ICICI Securities Ltd. | Retail Equity Research
Page 3
Stock recommendations for the day
Exhibit 3: TCS (TCS)
Daily Candlestick Chart
Price trading in upward rising channel signalling continuation of positive trend
in the short term
TCS (TCS) February Future
CMP
2568.25
Comment :
Price trading in upward rising channel and
MACD in uptrend forming higher high in daily
charts
Action :
Buy above 2570.00
Targets :
2600/2615/Higher
Stop-loss :
2552.00
MACD in uptrend taking support at its signal line in the daily chart
Source: Bloomberg, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Page 4
Exhibit 4: Glenmark (GLEPHA)
Daily Candlestick Chart
Trend line breakout and price close above 21 day EMA
indicating further upsides in coming sessions
Glenmark (GLEPHA) February Future
CMP
743.65
Comment : Short term trendline breakout and price
above 21 day EMA and RSI in up trend
forming higher high in daily chart
Action :
Buy in the range of 740.00-741.00
Targets :
752/758/Higher
Stop-loss :
734.00
RSI in up trend forming higher high in daily chart supports the bullish bias in price
Source: Bloomberg, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Page 5
Exhibit 5: Reliance Infrastructure (BSES)
Daily Candlestick Chart
Price facing resistance at 50 day EMA and rising support line breached signalling
continuation of profit booking in the coming sessions
Reliance Infra (BSES) February Future
CMP
473.20
Comment : Price facing resistance at 50 day EMA and
rising support line breached and RSI
generated bearish crossover in the daily
chart
Action :
Sell below 473.00
Targets :
466/462/Lower
Stop-loss :
477.00
Bearish crossover of the RSI below its nine period’s average indicating selling pressure
Source: Bloomberg, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Page 6
Exhibit 6: Bank of India (BANIND)
Weekly Candlestick Chart
Short term trendline joining major lows is breached signalling continuation of
profit booking in the coming sessions
Bank of India (BANIND) February Future
CMP
250.50
Comment : Short term trendline joining major lows is
breached and MACD giving sell signal in the
weekly chart
Action :
Sell below 250.00
Targets :
245/243/Lower
Stop-loss :
252.50
MACD in sell mode moving below signal line indicating further downsides in the coming sessions
Source: Bloomberg, ICICIdirect.com Research
ICICI Securities Ltd. | Retail Equity Research
Page 7
Previous Day’s Performance
Scrip
Nifty
Lupin
Tata Chemical
LIC Housing Finance
Product
Future
Future
Future
Future
Strategy
Sell
Buy
Buy
Sell
Recommended Price
in the range of 8825-8830
In range of 1586-1588
In range of 471-472
below 457
Targets
8795/8775/1610/1622/+
479/483/+
449.5/445.5/-
SL
8845.00
1575.00
467.50
461.20
Gain/Loss %*
Comment
(17 points)
2.10
1.50
-0.90
Stoploss triggered
Target 2 almost achieved
Target 1 achieved
Stoploss triggered
* Return Opportunity
Nifty Points gained for the day: -17 points
Gains over last 201 days: 540 points
Stock profits: Avg 0.90% per trade
(Cum. Profits over last 201 days:279.25%)
Strike Rate for the day: 2/3
(Cum strike rate over 201 days: 266/443
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 (Cash Levels)
SCRIP
SENSEX
NIFTY
ACC
CLOSE
S1
S2
S3
R1
R2
R3
TREND
28850.97
28774.7
28643.55
28566.35
29036.95
29168.1
29245.35
Neutral
8711.7
8689.45
8650.75
8628.65
8766.85
8805.55
8827.65
Neutral
+ve
1504.55
1505.85
1495.1
1484.35
1527.35
1535.75
1544.15
ADANI ENTER.
622.85
610.65
602.80
594.90
627.20
635.50
643.75
-ve
ADANI POWER
47.45
46.15
45.55
44.90
47.80
48.65
49.45
-ve
1750.60
1734.05
1722.80
1711.55
1758.55
1770.80
1783.05
107.25
106.20
104.45
103.40
109.70
111.40
112.50
ADITYA BIRLA
ALLAHABAD BANK
ANDHRA BANK
-ve
Neutral
86.60
84.50
83.75
82.95
87.25
88.65
90.00
1294.65
1278.15
1270.25
1262.35
1299.85
1310.70
1321.60
-ve
APOLLO TYRES
226.85
223.95
221.10
218.20
227.75
229.65
231.55
-ve
ARVIND
287.55
279.35
274.90
270.40
289.70
294.90
300.05
-ve
62.45
61.25
60.60
60.00
62.75
63.50
64.30
-ve
APOLLO HOSPITALS
ASHOK LEYLAND
ASIAN PAINTS
-ve
810.85
812.95
808.35
803.75
822.15
828.80
835.45
AUROBINDO PHARMA
1150.85
1128.00
1114.75
1101.55
1156.85
1171.30
1185.75
-ve
BAJAJ AUTO
2245.30
2241.05
2233.55
2220.70
2256.05
2263.50
2276.40
Neutral
BOB
177.55
173.30
171.80
170.35
178.55
181.20
183.80
-ve
BOI
249.45
244.40
242.35
240.30
251.00
254.35
257.65
-ve
BATA INDIA
1360.70
1351.90
1340.85
1327.95
1374.05
1385.15
1398.00
Neutral
BHARAT FORGE
1088.05
1082.00
1074.25
1065.50
1097.45
1105.20
1113.95
Neutral
750.00
749.30
736.85
724.40
774.20
779.65
785.05
BPCL
+ve
+ve
BHARTI AIRTEL
364.70
359.20
356.10
353.05
365.10
368.10
371.05
-ve
BIOCON
420.30
413.30
411.55
409.80
421.20
425.20
429.15
-ve
CAIRNS INDIA
247.00
245.05
240.95
236.85
247.25
248.35
249.50
-ve
CANARA BANK
429.55
418.55
408.75
398.95
433.40
440.85
448.30
-ve
Neutral
CENTURY TEXT.
525.00
522.55
518.15
509.75
531.35
535.75
544.15
CESC
672.25
655.65
648.85
642.10
676.05
686.25
696.45
59.70
59.45
58.95
58.55
60.45
60.95
61.40
CIPLA
662.40
654.25
648.55
642.85
663.90
668.75
673.55
-ve
COAL INDIA
369.90
370.15
367.95
365.80
374.50
377.55
380.65
+ve
+ve
CHAMBAL FERT.
COLGATE PALM.
-ve
Neutral
1857.70
1851.30
1832.55
1813.80
1888.80
1900.60
1912.45
CROMPTON GREAVES
161.75
157.80
154.35
150.90
163.15
165.85
168.55
-ve
DABUR INDIA
267.90
266.35
264.80
262.80
269.45
271.00
273.00
Neutral
77.85
75.40
74.65
73.95
78.25
79.70
81.15
DISH TV
ICICI Securities Ltd. | Retail Equity Research
-ve
Page 9
SCRIP
DIVI'S LAB.
CLOSE
S1
S2
S3
R1
R2
R3
TREND
1622.00
1609.65
1594.20
1578.70
1622.15
1628.40
1634.65
169.40
166.95
163.45
159.95
170.00
171.55
173.10
-ve
3072.05
3057.15
3046.40
3035.60
3074.05
3082.50
3090.95
-ve
EXIDE IND.
191.65
189.30
187.55
185.75
192.25
193.70
195.15
-ve
FEDERAL BANK
137.05
133.45
132.40
131.40
136.90
138.60
140.30
-ve
FUTURE RETAIL
139.95
140.25
137.70
135.15
145.35
147.80
150.25
+ve
GAIL
423.90
419.30
415.30
411.25
425.00
427.85
430.70
-ve
5598.20
5476.85
5454.10
5431.35
5593.30
5651.55
5709.80
-ve
742.10
742.55
737.85
733.15
752.00
760.15
768.25
18.10
16.95
16.60
16.25
18.20
18.85
19.50
1078.45
1071.20
1055.30
1039.45
1102.95
1119.00
1135.05
DLF
DR.REDDY'S LAB.
GLAXO SMITH.C.H.
GLENMARK PHARMA.
GMR INFRA.
GODREJ CONSUMER
GODREJ IND.
GRASIM
HAVELL'S INDIA
-ve
+ve
-ve
+ve
305.35
300.70
295.50
290.30
306.10
308.80
311.50
3887.50
3849.90
3834.35
3818.80
3887.55
3906.40
3925.25
-ve
-ve
249.00
244.85
242.00
239.15
249.70
252.10
254.55
-ve
HCL TECH
1972.65
1959.75
1936.25
1912.80
2006.70
2012.80
2018.90
+ve
HDFC BANK
1076.50
1078.20
1072.60
1066.95
1089.40
1095.95
1102.50
+ve
HDFC
1246.45
1247.65
1226.70
1205.75
1289.60
1297.30
1305.05
+ve
HERO MOTO
2847.30
2843.00
2831.30
2819.60
2866.40
2894.90
2923.40
+ve
HEXAWARE TECH.
233.20
228.80
226.80
224.80
234.30
237.05
239.80
HINDALCO
148.05
145.25
143.30
141.35
148.80
150.60
152.40
-ve
HIND. UNILEVER
909.05
909.55
904.90
900.25
918.85
925.35
931.85
+ve
HPCL
605.30
607.85
599.80
591.75
623.95
630.40
636.85
+ve
HINDUSTAN ZINC
173.90
170.55
169.60
168.60
173.80
175.40
177.00
-ve
HDIL
105.70
102.95
100.35
97.80
106.20
107.80
109.45
-ve
ICICI BANK
335.60
330.45
328.70
326.95
336.75
339.90
343.00
-ve
-ve
IDBI
-ve
65.75
64.15
63.75
63.30
66.20
67.20
68.25
IDEA CELLULAR
154.25
152.95
151.95
150.95
154.40
155.10
155.85
-ve
NSE INFRA DEV FINANC
166.70
164.00
162.60
161.25
167.25
168.90
170.55
-ve
NSE IND.FIN.CORP.OF
INDUSIND BANK
INDIA CEMENTS
37.75
37.00
36.55
36.10
38.00
38.50
39.00
865.40
866.00
857.90
849.80
882.15
887.45
892.70
-ve
+ve
96.25
91.40
89.95
88.50
97.55
100.65
103.75
-ve
INDRAPRASTHA GAS
461.95
455.80
451.90
447.95
464.55
468.90
473.30
-ve
IOC
334.65
332.25
328.20
325.60
340.25
344.25
346.90
Neutral
IOB
50.25
47.90
47.50
47.05
51.15
52.80
54.40
ICICI Securities Ltd. | Retail Equity Research
-ve
Page 10
SCRIP
IB REAL ESTATE
CLOSE
S1
S2
S3
R1
R2
R3
TREND
76.95
74.60
73.35
72.10
77.70
79.25
80.80
2193.80
2190.55
2172.55
2154.55
2226.55
2235.10
2243.65
IRB INFRA.
254.50
244.95
240.90
236.85
256.15
261.75
267.35
-ve
ITC
+ve
INFOSYS
-ve
+ve
368.90
368.55
366.45
364.35
372.75
374.05
375.35
JAIPRAKASH ASS.
26.50
25.20
24.60
23.95
26.75
27.50
28.25
-ve
J.P.POWER VENT.
11.55
11.20
11.05
10.90
11.65
11.85
12.10
-ve
JAIN IRRIGATION
69.55
67.05
65.80
64.50
70.00
71.50
72.95
-ve
JINDAL ST&POW
146.30
142.40
140.10
137.75
147.35
149.80
152.25
-ve
JSW ENERGY
104.65
101.60
99.60
97.55
105.45
107.35
109.25
-ve
NSE JSW STEEL
976.50
965.15
959.65
954.10
979.55
986.75
993.90
-ve
JUBILANT FOOD
1431.95
1417.30
1387.15
1357.00
1477.65
1492.40
1507.20
KARNATAKA BANK
133.60
131.00
129.90
128.80
134.15
135.70
137.25
KOTAK MAH.BANK
1287.90
1281.45
1273.30
1262.45
1297.75
1305.90
1316.75
L&T
1682.40
1669.00
1656.55
1644.10
1684.95
1692.95
1700.90
459.95
459.30
454.30
449.30
469.30
474.90
480.50
NSE LUPIN
1578.30
1567.70
1554.95
1541.55
1593.10
1605.80
1619.25
Neutral
M&M
1179.70
1164.90
1159.70
1154.55
1184.90
1194.90
1204.90
-ve
MARUTI SUZUKI
3522.70
3488.15
3467.25
3446.40
3532.65
3554.90
3577.15
-ve
211.55
209.45
208.00
206.60
212.10
213.45
214.80
-ve
LIC HOUSING
MCLEOD RUSSEL
M&M FIN.SERV.
MRF
NSE NHPC
+ve
-ve
Neutral
-ve
+ve
256.00
251.85
248.55
245.25
257.05
259.70
262.30
-ve
39729.10
39496.75
39209.25
38921.75
39805.75
39960.25
40114.75
-ve
20.05
19.90
19.70
19.55
20.25
20.40
20.60
NMDC
138.25
136.95
136.10
135.25
138.50
139.30
140.10
NSE NTPC
140.15
138.45
137.90
137.40
140.45
141.45
142.50
-ve
ONGC
356.65
350.95
347.35
343.75
358.20
361.80
365.40
-ve
OBC
248.35
240.40
238.25
236.10
250.15
255.00
259.90
-ve
PETRONET LNG
184.15
182.45
180.65
178.90
186.00
187.75
189.55
Neutral
POWER FINANCE
279.50
275.60
272.35
269.05
280.55
283.05
285.50
-ve
POWER GRID
143.65
141.95
141.10
140.25
144.05
145.10
146.15
-ve
93.85
92.15
91.40
90.65
94.05
95.00
96.00
-ve
PNB
171.40
169.35
166.45
164.90
175.15
178.00
179.60
RANBAXY
736.25
730.25
725.60
720.95
736.50
739.65
742.80
-ve
72.25
69.40
68.95
68.55
73.05
74.90
76.70
-ve
463.75
453.05
448.80
444.55
467.25
474.35
481.45
-ve
POWER TRADING
RCOM
REL. CAPITAL
ICICI Securities Ltd. | Retail Equity Research
Neutral
-ve
Neutral
Page 11
SCRIP
CLOSE
S1
S2
S3
R1
R2
R3
TREND
RELIANCE INFRA.
469.80
457.15
453.45
449.75
474.20
482.75
491.25
-ve
RELIANCE
923.70
914.25
909.75
905.30
925.40
930.95
936.55
-ve
60.65
59.05
58.60
58.15
61.20
62.25
63.30
-ve
321.50
314.95
312.40
309.85
323.50
327.80
332.05
74.00
73.55
73.00
72.70
74.70
75.25
75.55
RELIANCE POWER
REC
SAIL
SESA GOA
-ve
Neutral
207.80
204.35
201.90
199.40
208.90
211.15
213.45
SHRIRAM TRANS.
1157.15
1159.70
1147.80
1135.85
1183.55
1194.50
1205.45
SIEMENS
1094.00
1081.35
1072.55
1063.75
1094.05
1100.40
1106.75
290.80
289.55
287.40
284.65
293.85
296.00
298.75
Neutral
SUN PHARMA
959.55
955.45
951.75
945.55
962.90
966.65
972.80
Neutral
SUN TV
404.70
395.25
393.25
391.20
407.05
412.95
418.85
-ve
SYNDICATE BANK
113.85
111.20
110.15
109.05
114.45
116.05
117.65
-ve
TATA CHEMICALS
462.45
455.10
450.00
444.90
464.00
468.45
472.90
-ve
TATA MOTOR DVR
356.40
357.15
354.35
351.50
362.85
364.90
366.95
+ve
TATA MOTORS
589.20
579.85
575.20
570.60
590.30
595.50
600.75
-ve
83.30
80.05
78.90
77.75
84.45
86.65
88.80
-ve
154.75
152.25
150.85
149.50
155.40
156.95
158.55
-ve
TCS
2552.40
2553.40
2535.20
2517.05
2589.75
2608.30
2626.90
+ve
TECH MAHINDRA
2867.75
2869.50
2855.50
2841.50
2897.45
2918.70
2939.90
+ve
TATA STEEL
379.25
373.95
370.85
367.80
381.30
385.00
388.70
-ve
TITAN IND.
417.80
410.15
405.90
401.65
419.40
424.05
428.70
-ve
UCO BANK
68.40
66.70
66.20
65.65
69.05
70.20
71.40
-ve
3064.10
3033.45
3018.85
3004.30
3067.90
3085.10
3102.35
-ve
UBI
193.35
189.30
187.40
185.50
194.60
197.25
199.95
-ve
UNITED BREW.
953.45
917.15
909.70
902.25
956.00
975.45
994.90
-ve
UNITED PHOSPH.
417.95
413.05
407.45
401.85
419.25
422.35
425.40
-ve
17.50
16.15
15.75
15.35
17.65
18.40
19.20
-ve
VOLTAS
262.85
256.85
251.40
245.95
264.90
268.95
273.00
-ve
WIPRO
638.25
636.15
630.60
625.05
647.25
651.10
654.95
+ve
NSE YES BANK
807.85
808.75
800.50
792.25
825.25
832.80
840.40
+ve
ZEE
360.65
357.30
353.80
350.30
361.60
363.75
365.90
-ve
SBI
TATA POWER
TATA GLOBAL BEV.
ULTRATECH CEMENT
UNITECH
ICICI Securities Ltd. | Retail Equity Research
-ve
+ve
-ve
Page 12
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 session’s 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 session’s 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 session’s 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 session’s price opens over the prior session’s high (or above the prior session’s close). By the end of the second session,
it closes near the low of the session and should fall well into the prior session’s 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
[email protected]
ICICIdirect.com Research Desk,
ICICI Securities Limited,
1st Floor, Akruti Trade Centre,
Road No 7, MIDC
Andheri (East)
Mumbai – 400 093
[email protected]
ICICI Securities Ltd. | Retail Equity Research
Page 16
Disclaimer
ANALYST CERTIFICATION
We /I, Dharmesh Shah, Dipesh Daga, Nitin Kunte, Pabitro Mukherjee 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 view(s) in this
report.
Terms & conditions and other disclosures:
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capital fund management, etc. (“associates”), the details in respect of which are available on www.icicibank.com.
ICICI Securities is one of the leading merchant bankers/ underwriters of securities and participate in virtually all securities trading markets in India. We and our associates might have investment banking and other
business relationship with a significant percentage of companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to analysts and their relatives
from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.
The information and opinions in this report have been prepared by ICICI Securities and are subject to change without any notice. The report and information contained herein is strictly confidential and meant solely
for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of
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compliance or other reasons that may prevent ICICI Securities from doing so. Non-rated securities indicate that rating on a particular security has been suspended temporarily and such suspension is in compliance
with applicable regulations and/or ICICI Securities policies, in circumstances where ICICI Securities might be acting in an advisory capacity to this company, or in certain other circumstances.
This report is based on information obtained from public sources and sources believed to be reliable, but no independent verification has been made nor is its accuracy or completeness guaranteed. This report and
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ICICI Securities or its associates might have managed or co-managed public offering of securities for the subject company or might have been mandated by the subject company for any other assignment in the past
twelve months.
ICICI Securities or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve months from the date of this report for services in respect of
managing or co-managing public offerings, corporate finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction.
ICICI Securities or its associates might have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the companies mentioned in the
report in the past twelve months.
ICICI Securities encourages independence in research report preparation and strives to minimize conflict in preparation of research report. ICICI Securities or its analysts did not receive any compensation or other
benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither ICICI Securities nor Research Analysts have any material conflict of
interest at the time of publication of this report.
It is confirmed that Dharmesh Shah, Dipesh Daga, Nitin Kunte, Pabitro Mukherjee Research Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding
twelve months.
Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions.
ICICI Securities or its subsidiaries collectively or Research Analysts do not own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of
the research report.
Since associates of ICICI Securities are engaged in various financial service businesses, they might have financial interests or beneficial ownership in various companies including the subject company/companies
mentioned in this report.
ICICI Securities Ltd. | Retail Equity Research
Page 17