Domestic Equity Outlook - Bulls get defensive

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1 April 30, 2013 EQUITY INDICES Index Absolute Change Percent Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 19, % 2.93% -0.20% CNX Nifty 5, % 3.90% -0.02% S&P CNX 500 4, % 4.11% -2.58% CNX IT INDEX 6, % % -0.16% International Last Trade Change Percent Change DJIA 14, % 1.65% 13.08% NASDAQ 3, % 1.21% 9.52% NIKKEI 13,822.8 (61.3) -0.44% 11.49% 32.97% HANGSENG 22, % 2.26% 0.65% KOSPI 1, % -2.27% -1.89% COMMODITY MARKETS Key Commodities Last Trade Change 1-D 1-Mth YTD WTI Crude ($/bl) % -2.86% 22.33% Brent Crude ($/bl) % -5.88% -6.83% Silver ($/Oz) (0.17) -0.70% % % MCX Silver 45, % % % Gold ($/Oz) 1, (3.80) -0.26% -7.97% % MCX Gold 27, % -7.37% % Copper LME ($/MT) 7, % -5.18% -9.95% MCX Copper % -7.49% % Aluminium LME ($/MT) 1, % -0.77% -8.83% MCX Aluminium (2.40) -2.34% -2.05% % CURRENCY RATES Exchg Rates Last trade Prev 1-D 1-Mth YTD Spot Exchange Rates USD/INR % -0.06% -1.36% EUR/INR % 2.11% -2.18% GBP/INR % 2.05% -5.31% EUR/USD % 1.90% -0.76% USD/JPY % 5.16% 13.01% GBP/USD % 1.66% -4.76% RATES Exchg Rates Last trade Prev Chg (bps) 1-Mth YTD Libor -1 Mth % -2.70% -5.03% Call Rates % % % NSE Overnight MIBOR % % -7.65% T-Bill - 91 D % -5.75% -7.21% INVESTMENT ACTIVITY (Rs. Cr) Category BUY SELL NET Prev FII 2, , DII 1, , EXCHANGE TURNOVER Exchange Rs. Crore BSE Equity 2, NSE Equity 9, NSE Derivatives 69, Domestic Equity Outlook - Bulls get defensive Yesterday, the Indian equity markets opened marginally positive mirroring firm cues from Asian indices however soon underwent ranged trading. Positive global risk sentiment amidst expectations of continued policy support by US Fed and ECB ahead of their meetings this week combined with reports that there has been some progress in Parliamentary proceedings and the Finance Bill is likely to be passed further aided the sentiments. However major move came only post HUL numbers as the FMCG major led the gains with company emerging as the top gainer amongst NIFTY-50 after reporting a stellar set of numbers, surging more than 7% while another FMCG major - ITC scaled a record high closing the day with gain of 1.9%. This helped indices to close the day on a positive note with NIFTY advancing about 33 points closing the day at 5,904 mark after remaining ranged for most part of the session. Mixed trend was observed amongst sectoral indices with CNX Metal emerging as the top loser, down 1.3%, while on other hand, CNX MNC emerged as the top gainers advancing close to 2.6%. Market breadth remained in favor of Bulls with 724 stocks advancing as against 554 stocks declining with both mid-cap and small-cap indices closing the day on a positive note. As for the global market, U.S. stocks rallied ahead, positioning the S&P 500 for a record close, as investor embraced corporate earnings and outlooks. S&P's positive finish for April would represent a sixth straight month of gains, its longest run since a seven-month winning stretch that ended in September European markets too closed the day on a positive note up anywhere between 0.5%- 1.6%. For the domestic market, Equity market may witness a stock specific action ahead of holiday tomorrow. Market participants may also chose to remain on side line ahead of important policy meet scheduled on 3rd of next month and the PMI numbers that are due tomorrow. The key results today include stocks like Bharati Infratel, Chambal Fert, Dabur, Godrej Cons, Marico, Petronet LNG and TVS Motor. Corporate News: In what has finally brought to a close the nine-month long negotiations between the management and the workers at Hero MotoCorp's Gurgaon unit, the company has hiked wages by around 25% for the 1,200-odd permanent workers at the facility. The Delhi High Court asked Bharti Airtel to respond to a plea of stateowned BSNL seeking to implead itself as a party to a plea filed by the private telecom major against imposition of penalty of Rs 350 crore for offering 3G services in areas where it lacked licenses. Shree Cement Jan-Mar net profit up 26% to Rs 274 cr Source: BSE, NSE, BS, ET, FE, HBL Recommendation summary (Please see inside for details) Call Company Rating Initiate At (Rs) PT (Rs) Stop Loss (Rs) POSITIONAL COAL INDIA SELL INTRADAY MCLEOD RUSSEL SELL INTRADAY ACC SELL Positional picks are based on one week horizon

2 The sharp up move in FMCG major - HUL (on back of stellar performance) and the ITC helped indices to close the day yet on another positive note. The stock of HUL finished the day with a gain of more than 7% while the ITC touched a record high helping the FMCG index gaining close to 2.3%. By end of the trade, NSE's benchmark index NIFTY finished the session with positive gain of 33 points at 5,904 mark. Both mid-cap and small-cap indices closed the session on a positive note. Sectorally, CNX MNC emerged as top gainer up close to 2.6% followed by CNX FMCG that closed with positive gain of 2.3%. On other hand CNX Metal emerged as top loser down 1.3%. NIFTY May Futures closed with premium of around 11 points at 5,915 mark. Sectoral Activity: Amongst sectoral index CNX Metal added fresh short position. Stock Activity: HUL witnessed built up in long position while IOB and Jindal Steel and Power witnessed built up in short position. TOP 5 PRICE GAINER Stock Name: LTP: % Price Chg: % Vol Chg: %OI Support Pivot Resistance RELIANCE COMMUNICATIONS L % 79.56% 21.39% HINDUSTAN UNILEVER LTD % % 49.42% SIEMENS LTD % % 1.47% UNION BANK OF INDIA % 85.12% 22.41% APOLLO TYRES LTD % % 20.07% TOP 5 PRICE LOSER Stock Name: LTP: % Price Chg: % Vol Chg: %OI Support Pivot Resistance INDIAN OVERSEAS BANK % % 35.09% JINDAL STEEL & POWER LTD % 19.14% 25.30% EXIDE INDUSTRIES LTD % % 8.10% FEDERAL BANK LTD % % 4.14% NMDC LTD % % 4.86% TOP 5 OI GAINER Stock Name: LTP: % Price Chg: % Vol Chg: %OI Support Pivot Resistance HINDUSTAN UNILEVER LTD % % 49.42% INDIAN OVERSEAS BANK % % 35.09% INDRAPRASTHA GAS LTD % % 27.13% JINDAL STEEL & POWER LTD % 19.14% 25.30% UNION BANK OF INDIA % 85.12% 22.41% TOP 5 OI LOSER Stock Name: LTP: % Price Chg: % Vol Chg: %OI Support Pivot Resistance SUN TV NETWORK LIMITED % % -7.97% LIC HOUSING FINANCE LTD % % -5.92% THE INDIA CEMENTS LIMITED % % -3.98% HERO HONDA MOTORS LTD % 65.87% -3.26% CAIRN INDIA LIMITED % % -3.25%

3 Delivery Action: Based on delivery analysis, accumulation was observed in Indus Ind Bank and the Indian Hotel. TOP 5 "RISE IN % DEL CHG : Stock Name: LTP: % Price Chg: % Vol Chg: %DEL chg Support Pivot Resistance TATA MOTORS LIMITED % % % NMDC LTD % % % INDUSIND BANK LIMITED % 20.43% % THE INDIAN HOTELS CO. LTD % % % HEXAWARE TECHNOLOGIES LTD % % % Sector Total OI Average of OI Average of Price Total VOL Average of Volume TOP 5 "DECLINE IN % DEL CHG : Change % Change % Change % Stock Name: LTP: % Price Chg: % Vol Chg: %DEL chg Support Pivot Resistance UNITED PHOSPHORUS LIMITED % % % CONTAINER CORP OF IND LTD % % % ADITYA BIRLA NUVO LIMITED % % % GRASIM INDUSTRIES LTD % % % HINDALCO INDUSTRIES LTD % % % SECTORAL ACTIVITY Sector Total OI Average of OI Average of Price Total VOL Average of Volume Change % Change % Change % Consumer Discretionary % 0.88% % Consumer Staples % 1.71% % Energy % 0.97% % Financials % 1.06% % Health Care % 0.42% % Industrials % 1.21% % Information Technology % 1.54% % Materials % 0.20% % Telecommunication Services % 2.23% % Utilities % 0.86% % Grand Total % 0.97% %

4 NIFTY Support 5870, 5840 Resistance: 5970, 6010 OUTLOOK FOR THE DAY Yesterday, NSE's NIFTY inched higher post positive biased oscillation and regained 5,900 mark on closing. NIFTY closed the session with gains of 33 points at 5,904 level and SENSEX closed the day with increase of 101 points at 19,388 level. NSE Cash segment witnessed the turnover of about Rs. 9,598 crores as compared to Rs. 11,570 crores earlier. Overall market breadth remained positive where 724 stocks advanced against 554 declining stocks. Except CNX METAL & CNX PHARMA, positive trend was witnessed amongst all sectoral indices during the day. CNX MNC & CNX FMCG emerged as a top gainer with increase of 2.6% & 2.3%, respectively while CNX METAL emerged as a top loser with decrease of 1.3%, respectively. On Monday, NIFTY traded in the range of 5,900-5,670 post flat opening for major part of the day on absence of major headlines in the market. Post consolidation, indices rose to 5,919 level amidst quick action and posted gain of 0.6% on closing. Yesterday, we have observed decline in cash segment as compared to previous trading sessions. As mentioned earlier, our near term technical view will remain positive on NIFTY with probable upward move towards 5,970 mark. On lower side, support is placed at 5,760 level on a closing basis. As for the day, support is placed at 5,870 and then at 5,840 levels. Resistance is observed at 5,970 and then 6,010 levels.

5 Technical Picks Positional Pick COAL INDIA (LTP: 313) SELL For today's trade, short position can be initiated only in Rs range for target of Rs with a closing based stop loss of Rs.333. Intraday Picks MCLEOD RUSSEL (LTP: 320) - SELL For today's trade, short position can be initiated only in Rs range for target of Rs with a strict stop loss of Rs.330. Traders are advised to avoid early morning whipsaw. Technical Picks ACC (LTP: 1240) - SELL For today's trade, short position can be initiated only in Rs range for target of Rs with a strict stop loss of Rs Traders are advised to avoid early morning whipsaw.

6 Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 CNX Nifty CNX IT CNX Midcap AMBUJA CEMENTS LTD ASIAN PAINTS LIMITED AXIS BANK LIMITED BAJAJ AUTO LIMITED BANK OF BARODA BHARTI AIRTEL LIMITED BHEL BHARAT PETROLEUM CORP LT CAIRN INDIA LIMITED CIPLA LTD COAL INDIA LTD DLF LIMITED DR. REDDY'S LABORATORIES GAIL (INDIA) LTD GRASIM INDUSTRIES LTD HCL TECHNOLOGIES LTD HDFC LTD HDFC BANK LTD HERO MOTOCORP LIMITED HINDALCO INDUSTRIES LTD HINDUSTAN UNILEVER LTD ICICI BANK LTD IDFC LIMITED INDUSIND BANK LIMITED INFOSYS LIMITED ITC LTD JINDAL STEEL & POWER LTD JAIPRAKASH ASSOCIATES LTD KOTAK MAHINDRA BANK LTD LARSEN & TOUBRO LTD LUPIN LIMITED MAHINDRA & MAHINDRA LTD MARUTI SUZUKI INDIA LTD NMDC LTD NTPC LTD OIL AND NATURAL GAS CORP PUNJAB NATIONAL BANK POWER GRID CORP. LTD RANBAXY LABS LTD RELIANCE INDUSTRIES LTD RELIANCE INFRASTRUCTU LTD STATE BANK OF INDIA SESA GOA LTD SUN PHARMACEUTICALS IND TATA MOTORS LIMITED TATA POWER CO LTD TATA STEEL LIMITED TATA CONSULTANCY SERV LT ULTRATECH CEMENT LIMITED

7 Deal Date Scrip Code Company Client Name Deal Type* Quantity Price ** 29/04/ ACCLAIM IND PARKES MULTI TRADE PRIVATE LIMITED S 34, /04/ ACCLAIM IND CEEPLAST TRADING COMPANY PVT LTD B 65, /04/ ACCLAIM IND MULBERRY MERCANTILE PRIVATE LIMITED S 66, /04/ ACCLAIM IND MULBERRY MERCANTILE PRIVATE LIMITED B 60, /04/ ADI Rasayan ARNAV GREEN ENERGY LIMITED B 62, /04/ AKL SOF INFO MAHESHCHANDRA CHUNILAL SHAH S 2,764, /04/ AKL SOF INFO MAHESHCHANDRA CHUNILAL SHAH B 3,141, /04/ Allied Comp PATEL YOGESHBHAI R S 696, /04/ Arvind Intl-$ RUCHIKA BAJORIA S 80, /04/ BRESCON CORP TECK CONSULTANCY & SERVICES PVT LTD B 43, /04/ BRESCON CORP TECK CONSULTANCY AND SERVICESPVT LTD B 43, /04/ BRESCON CORP NIRMAL KUMAR DEEPCHAND GANGWAL S 84, /04/ Capricorn Systems GEETA YOGENDER KHANDELIYA S 150, /04/ Capricorn Systems SURESH KUMAR AGARWAL S 69, /04/ Capricorn Systems VINOD SARAF B 100, /04/ Capricorn Systems KAVITA SARAF B 100, /04/ Croitre Inds SURESH LAXMAN MANDAVKAR S 50, /04/ Croitre Inds SURESH LAXMAN MANDAVKAR B 50, /04/ Croitre Inds DHARMENDRA HARILAL BHOJAK S 101, /04/ Croitre Inds BLUE ARCADE CONSTRUCTIONS PVT LTD B 100, /04/ GCV SERV AVICHAL SECURITIES PRIVATE LIMITED S 2,039, /04/ GCV SERV ARISTO MEDIA & ENTERTAINMENT PVT LTD B 2,039, /04/ Glory Polyfilms STREAMLINE SHIPPING COMPANY PVT LTD S 406, /04/ Jay Mahesh Infra JAYA VEERAVENKATA D PRAKASH MADDULA S 32, /04/ Jay Mahesh Infra JAYA VEERAVENKATA D PRAKASH MADDULA B 32, /04/ Kwality Cred DHARMENDRA KOTHARI S 50, /04/ Lords Chemicals ASHWIN RASIKLAL JANI B 100, /04/ RCL Retail GUINESS SECURITIES LIMITED B 190, /04/ RCL Retail R.MANISH KUMAR S 180, /04/ Regency Trust AVICHAL SECURITIES PRIVATE LIMITED S 140, /04/ Regency Trust ARISTO MEDIA & ENTERTAINMENT PVT LTD B 140, /04/ SHREYCHEM SWETA TIBREWALA B 100, /04/ SHREYCHEM GANESH BHAGOJI KHAIRE S 159, /04/ SHREYCHEM HARI KISHAN PRAHLADKA B 200, /04/ SHREYCHEM NRUPAL NARESHCHANDRA RAJA S 69, /04/ TCPL Pack-$ ANIL KUMAR GOEL B 50, /04/ TCPL Pack-$ BISHWANATH PRASAD AGARWAL S 50, /04/ VAISHNAVI MOHANARAO KARRA B 123, /04/ VAISHNAVI BADDULA RAVINDRA S 100, /04/ Vyapar Inds LIMITLESS YARN TRADERS & MANUFAC. LTD B 61, /04/ WAGEND DEVCHAND MULJI SHAH S 340, /04/ WAGEND DINESH SUNDERJI SHAH S 250, *B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price *Note: 1. The above data is subject to change, based on the request of the members who have executed the deals. 2. To know more about Bulk Deals click here.

8 Monthly Economic Calendar Date Country Event Period Prior 25-Apr-13 UK GDP (QoQ) 1Q -0.3% 25-Apr-13 UK GDP (YoY) 1Q 0.2% 25-Apr-13 US Initial Jobless Claims Apr APR India Eight Infrastructure Industrie Mar Apr-13 US GDP QoQ (Annualized) 1Q 0.4% 26-Apr-13 US U. of Michigan Confidence Apr Apr-13 UK Nat'wide House prices sa (MoM) Apr 0.0% 29-Apr-13 UK Nat'wide House prices nsa(yoy) Apr 0.8% 30-Apr-13 US Consumer Confidence Apr 59.7

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