Morning Note

Equity Market Outlook
  Sensex (+1.15%), Nifty (+1.20%) ended positive. BSE midcap was up 0.85% and Smallcap was up 0.70%.
Hindalco (+5.26%), Sun Pharma (+4.19%), HCL Tech (+3.81%), Ranbaxy (+3.77%), Tata Motors (+3.39%) were the main
Nifty gainers, while Suzlon (-3.32%), Idea (-1.55%), HDFC (-1.27%), Rcom (-1.20%), Siemens (-1.12%) were the losers.
Among the BSE sectoral indices, IT (+1.96%), FMCG (+1.45%), Metal (+1.43%), Teck (+1.34%), Auto (+1.27%), Bankex
(+1.16%) ended positive, while CD (-0.20%) ended negative.
NSE cash turnover was Rs 15889 cr. FIIs were net buyers of Rs 674 cr and DIIs were net sellers of Rs 113 cr.
US markets closed flattish. Asia is also trading flattish and so is SGX Nifty. The domestic market saw a smart rally helped
by pharma, IT and banks. Idea, Unitech and ABB will be out of Nifty from Oct 1st and will be replaced by Bajaj Auto, Dr
Reddys and Sesa Goa. Railways is likely to soon introduce the anti-collision device. Kernex Micro is one of the suppliers of
the same and thus could see upsides from a short term perspective as the overall order size is indicated to the tune of Rs 2000
cr. BHEL may lose preferred vendor status and thus may see marginal negative reactions. China Huaneng group is reported to
be in talks to buy 50 percent stake in Intergen from GMR Infra.

Technical Market Outlook


Nifty gained 65 points and closed with greeen candle stick at 5479. Technically Nifty on daily chart has formed bullish
candle stick which indicates buyers are more aggressive in this session. Nifty spot opened low at 5416, made high at 5488 and
finally closed positive at 5479 levels. So Nifty seems to be sideways to positive on daily and weekly chart facing strong
resistance at 5500, if Nifty trades above 5500, next intraday resistance at 5525-5550 and supports at 5445-5465 range. For
short term trading long positions, stop loss of 5425 is advisable. Bank Nifty has resistance 10965-11035-11140 and supports
at 10800-10690-10620.

Advisory Calls

Marathon Calls:
Large Caps - Tata Steel, L&T and ONGC, BHEL, Ultratech, TCS, Reliance Infra; Mid Caps - Patel
Engineering, Welspun Corporation, Bartronics, Den Network, Shree Cement, Patni Comp, 3iinfotech,
Aurobindo Pharma, Mphasis, Unity Infra; UTV: Buy for a potential target of 530. Deepak Fertilisers
Technical Call:
BUY ICICI BANK CMP 967.90 SL 950 TGT 1025
BUY JSW STEEL CMP 1127.05 SL 1100 TGT 1175-1200.
BUY TCS CMP 871.10 SL 850 TGT 900-920
HOTS Call:
Buy Everonn Systems with SL 580 TGT 650-670


Derivative Market Outlook

Derivative turnover was Rs 105674 cr. Nifty Index PCR was 1.26.
FIIs were net buyers of Index futures of Rs 517 cr and net buyers of stock futures of Rs 194 cr.
FnO Gainers – Moserbaer, Chambal Fert, Apollotyre, Hindalco, Nagar Fert, KFA, Auropharma, Ind Hotel.
FnO Losers – Suzlon, Orient Bank, Tulip, National Aluminium, Ibreal Estate, Aban.
OI Gainers – Chambal Fert, ONGC, HDFC Bank, LIC Housing, Hindalco
OI Losers – Uco Bank, Dena Bank, Hindpetro, SBI, Vijaya Bank.
Stockwatch – Apollo Tyre, GMR, Chambal