DAILY EQUTY REPORT BY EPIC RESEARCH-27 June 2012

Daily Equity Report (27JUN 2012)

Highlights
Indian market

 Indian equity markets up 0.12%.

 Nifty up 16.20 pts and settle at 5130.85.

 Sensex was up 61.32 pts at 16943.48.

 Bank Nifty up 65.50 pts at 9991.25.

Global market

 European markets were down with FTSE up by 3.52 pts at 5454.17, CAC down by
2.85 pts at 3018.39 and DAX down 6.17 pts at 6126.22.

 Dow future up 14.00 pts at 12445.00.

 S&P/CS Composite-20 HPI y/y is -1.9 M & previous -2.6M

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Market Analysis:

The 30-share BSE Sensex and the 50-share NSE Nifty tracked the global trend and ended
flat on Tuesday. The two indices rose after European markets opened firm. The BSE
Sensex rose 24 points to 16906 while the NSE Nifty inched up 6 points to 5121. At 3.50 pm,
the Indian rupee traded at 56.98 to the US dollar gaining 3 paise over Monday’s close.

Markets had built in huge expectations ahead of the Reserve Bank's announcements
yesterday, and fell sharply after the measures announced fell way short of expectations.
Major shares traded flat since morning.

Markets had built in huge expectations ahead of the Reserve Bank's announcements
yesterday, and fell sharply after the measures announced fell way short of expectations.
Major shares traded flat since morning..

IT stocks continued to underperform the broader markets. Infosys (-1%) and HCL Tech (-
0.6%)were among the laggards on the Nifty index. IT stocks have been out of favour over
the uncertainty in the direction of the rupee and the global macro environment. “Even as
depreciated rupee level provides decent downside support, upside remains contingent on
improvement in demand outlook,” Kotak Securities said in a note. TCS, the largest software
services company, gained 1.4 per cent. Analyst expect TCS to maintain growth in profits

Bank shares rose after as the Reserve Bank of India eased restrictions on foreign flows into
government securities market. Banks could benefit as they would be able to meet the credit
demand for businesses in India as government looks to borrow outside India. SB I shares
rose 0.6 per cent while HDFC Bank gained 1.8 per cent. Union Bank shares rose 2.6 per
cent while Indusind Bank gained 1.8 per cent.

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News you can use:

 In a bid to check rupee's free falling against the US dollar, the Reserve Bank of
India (RBI) on Monday hiked the limit of external commercial borrowing (ECB) by
USD 10 billion. Moreover, the regulator also increased the limit of overseas
investment in government bonds by USD 5 billion to USD 20 billion.

 European shares were called to open flat to slightly lower on Monday with Spain
at the forefront of investors’ minds as it is expected to formally ask its euro zone
partners for 100 billion euros to recapitalize its banks.

 Asian shares fell on Monday and the safe-haven dollar rose as concerns about
faltering global growth and Europe's intractable debt crisis continued to sap
investor confidence, but commodities steadied after a pummelling last week.

Fiis & Diis
CATAGERY DATE BUY SELL NET

FII 26-Jun-2012 1471.53 1458.5 13.03

DII 26-Jun-2012 625.14 980.19 -355.05

NIFTY Daily pivots
Pivot R4 R3 R2 R1 PP S1 S2 S3 S4
Nifty 5236.65 5197.85 5159.05 5144.90 5120.25 5106.10 5081.45 5042.65 5003.8



Daily Nifty Gainers
COMPANY CURR.RATE VOL(000) PREV.CL NET CHANGE CHANGE%
GAIL India 355.05 1367.88 343.65 3.32 11.4

Grasim Ind. 2545.5 60.82 2469.45 3.08 76.05

Tata Power 96 2214.94 94.05 2.07 1.95

Siemens 713.9 66.8 699.5 2.06 14.4

Power Grid 110 1113.95 107.85 1.99 2.15

Daily Nifty Losers
COMPANY CURR.RATE VOL(000) PREV.CL NET CHANGE CHANGE%
SAIL 88.05 3802.61 89.9 -2.06 -1.85

Hindustan Unil 450.7 2391.32 460.05 -2.03 -9.35

Sesa Goa 184.65 1384.09 187.35 -1.44 -2.7

Asian Paints 3759 102.37 3808 -1.29 -49

ITC 247.05 4085 250.05 -1.2 -3

Stock in ban period Stocks to watch
 ABAN
 Bata India
 ABGSHIP
 IDFC
 COREEDUTECV
 M&M
 ORCHID CHEM
 L&T
 SUZLON
 RELIANCE CAP.



Nifty Daily Chart

INDEX Open High Low Close Change

Nifty 5109.15 5134.40 5095.60 5130.75 16.15

ANALYSIS:
Nifty looks bearish
Strategy: Sell on rise
Support:5080
Resistance:5175



Bank Nifty Daily Chart

INDEX Open High Low Close Change % change

BankNifty 9880 10024.8 9872 9969 67.55 .68

ANALYSIS
Bank Nifty looks bearish
Strategy: Sell on rise
Support: 9910
Resistance:10030



Cash
Scrips B/S Level SL1 T1 T2 T3

Icici bank B 850 842 858 866 872

Coal India B 340.10 338 342.10 344.10 346.10

Future
Scrips B/S Level SL1 T1 T2 T3

Cairn India B 332.50 330.5 334.5 336.50 338.5

IRB Infra S 125 126 124 123 122

Update Box:
Type Scrips B/S Level Target
Cash Icici Sell 850 842
Future Voltas Sell 101.60 100.60



INVESTORS’ GUIDE
We head into a derivative contracts expiry week, with stock markets having climbed the
conventional ‘Wall Of Worry’ syndrome. The week ahead will be volatile with a ‘Bullish Bias’
as sentiment has started to turn positive on the back of low oil prices and expectation of better
government performance on the back of the expected ‘rejig’ on key posts being filled due to
Presidential elections.

Markets surprisingly did not react negatively to the ‘Status Quo’ on rates announced by the RBI,
rating agencies downgrade threats and also ignored poor global cues to end the week up
marginally. The only ‘Joker in the Pack’ continues to be the Rupee, which is limiting inflows by
touching new lows despite being very heavily oversold. The same was the sole reason for RBI
not cutting rates and easing money supply. Also oil marketing companies in the ir fortnightly oil
price revision stated the same reason for not cutting petrol prices. Rating agencies are also going
overboard in threats of downgrade to ‘Speculative grade’ purely due to the sharper than expected
fall in the Rupee.

The Nifty now seems set to test the100 dma (day moving average) at 5198 and the Right
shoulder @ 5240/50, with support now @ 5074 which is the 200dma. The high Beta ‘Bank
Nifty’ has again started to outperform the Nifty & will test the 100dma @ 10095 & the right
shoulder @ 10300.

Smart money continues to buy quality with the broader market now showing positive divergence
& mid cap stocks recording smart gains. This also indicates that purely by default how much
India’s fundamentals tend to improve on the back of low Oil prices & which will actually see
Smart Money buy stocks with a longer term horizon. High Beta sector/stocks are being chased
with Defensive’s continuing to underperform.

Globally markets continue to be ‘Haunted’ by rising yields on Spanish, Italian & Portuguese
debt, which is seeing equities underperform. However the sharp commodity sell off has also seen
Gold lose some of its sheen & it ended near 1 month lows. The same is indicating that the
relative outperformance of Gold as an asset class may be over & we could see smart money re-
entering Equities.

The other factor being watched closely is the progress of Rains/Monsoon & the also in the US
certain disruption in Oil supplies due to seasonal Tropical Storms which will see Oil prices react.

With most of Europe now actually watching the Euro cup more than tracking the Euro, expect
rangebound moves globally & our own markets should see some more optimism with
prices/stocks seeking higher levels.



Factors to watch:

 Rupee to stop falling?

 Progress of rains/US storm impact on Oil Prices.

 Low Bond yields expecting out of turn action by RBI?

 Volatility ahead of F&O expiry.

 Government Rejig: Who will be the FM?

 Nifty support @ 5070 & resistance @ 5240.



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DAILY EQUTY REPORT BY EPIC RESEARCH-27 June 2012

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DAILY EQUTY REPORT BY EPIC RESEARCH-27 June 2012