Daily Calls July 8, 2015

Daily Calls July 8, 2015 Market Outlook Sensex Daily Candlestick Chart We said, "Bias is positive as long as the index forms a Bull candle with a higher high-low. Otherwise it will not." The index did hold a higher high low but failing to form as a Bull candle, it settled flat, a marginal 37 points or 0.1% lower. Tea, paint stocks shot up on a fall in crude but other sectors ended flat. Broader market gains kept the A/D ratio positive. The action formed a High Wave (HW), indicating the index turning volatile at higher levels after registering a hefty gain on the previous day. For the bias to remain positive, the index needs to hold the HW's low on a closing basis. Weakness and close of the HW can halt the rally, perhaps only temporarily, and test the grey/green lines supporting the rally. Recommendations for the day Source: ASA, ICICIdirect.com Research Scrip IDirectCode I-Direct Action Target Stoploss NIFTY NIFTY Sell in the range of 8510-8520 8480/8460.0 8535.00 Asian Paints ASIPAI Buy in the range of 811.00-813.00 825.00/832.00 805.00 Vedanta SESGOA Sell below 159.00 156.00/154.50 160.50 * All recommendations are for current month futures 1

Sell Nifty July Future in the range of 8510-8520 Target: 8480/8460 Stop loss: 8535 Deal Team At Your Service Nifty Technical Picture (Spot) Nifty Intraday Short Term Trend Down Up Trend Reversal 8550 8200 Support 8450-8400 8200 Resistance 8510-8550 8850 20 Days EMA 8351 200 days EMA 8217 Nifty Future Daily Candlestick Chart Nifty Future Recommendation CMP : 8516.6060 Comment : Action : Future premium decreased from 16 points to 6. High Wave suggests hesitation after hefty gains on Monday.Reverse if holds 8450 or 8425 Sell in the range of 8510-8520 Targets : 8480/8460 Stop-loss 8535.00 Source: ASA, ICICIdirect.com Research 2

Gladiator Stock Recommendation Stocks Buy Asian Paints July Future in the range of 811.00-813.00 Target: 825.00/832.00 Stop loss: 805.00 CMP 825.25 Falling channel breakout with a gap up price action supports the positive trend in price Comment Falling channel breakout with a gap : up price action and MACD in rising trend in daily chart Action : Buy in the range of 811.00-813.00 Targets : 825.00/832.00 MACD in rising trajectory signalling continuation of positive momentum Stop-loss 805.00 Sell Vedanta July future below 159.00 Target: 156.00/154.50 Stop loss: 160.50 CMP 159.40 Comment : Action : Price remains in downtrend forming lower top and lower bottom and RSI in sell mode Sell below 159.00 Price remains in downtrend forming lower top and lower bottom signals further downsides in coming sessions Targets : 156.00/154.50 Stop-loss 160.50 RSI below its 9 period average suggesting continuation of downward momentum Source: Bloomberg, ICICIdirect.com Research 3

Market Activity Global Currencies, Commodities & Bond Yields Spot Close Prev.close % Chg Rupee ( ) 63.460 63.400-0.09 Dollar Index 96.824 96.865-0.02 Euro 1.099 1.101-0.25 British Pound 1.543 1.546-0.21 Japanese Yen 122.140 122.540 0.29 Australian ($) 0.741 0.745-0.54 Swiss Franc 0.947 0.947-0.01 Closing Yield (%) Previous Yield (%) India 10 year 7.78 7.78 US 10 Year 2.22 2.26 EURO 10 Year 0.64 0.76 GBP 10 Year 1.83 2.00 JPY 10 Year 0.43 0.46 Close Prev. Close %Chg Gold/ounce 1154.32 1155.26-0.13 Copper /ton 5329.00 5576.00-0.62 Brent Crude/barrel 56.84 56.85-0.02 002 Institutional Activity Cash Segment ( Cr) FII DII 7Jul15 7-Jul-15 23.5-94.7 6-Jul-15 149.4-409.7 3-Jul-15 356.3-220.6 2-Jul-15 575.3-219.0 1-Jul-15 75.0 52.1 Domestic Indices Global Indices Indices Close Change Change% S&P BSE Sensex 28171.69-37.07-0.13 CNX Nifty 8510.80-11.35-0.13 Nifty future 8516.60-21.15-0.25 S&PBSE 500 11144.72 11.33 0.10 S&PBSE Midcap 11019.99 57.22 0.52 S&PBSE Smallcap 11498.32 71.33 0.62 Nifty Heat Map Asian Paints Tech M. Dr Reddy Bajaj Auto IDEA Infosys HUL TCS ONGC Hindalco Indices Close Change Change% Dow Jones 17776.91 93.33 0.53 Nasdaq 4997.46 5.52 0.11 FTSE 6432.21-103.47-1.58 DAX 10676.78-213.85-1.96 Hang Seng 23800.76-1237.31-4.95 Nikkei 20066.17-309.33-1.52 SGX Nifty 8448.00-83.50-0.98 * Asian Market as at 7:30am 824.6 Coal 428.9 3,161.5 United 3,500.9 HDFC 1,337.3 Ultratech 5.2% India 2.2% 1.9% Spirits 1.9% Ltd 1.5% 471.4 145.1 272.9 Sun 885.4 553.8 PNB SBI Wipro 1.5% 0.8% 0.8% Pharma 0.7% 0.7% 3,740.0 152.1 Grasim 3,573.4 Axis 586.2 Bank of 153.7 IDFC 0.6% 0.5% Ind 0.4% Bank 0.3% Baroda 0.3% 2,603.7 HDFC 1,086.9 932.4 Tata 431.6 115.7 BPCL NMDC 0.3% Bank 0.3% 0.2% Motors 0.1% 0.1% 181.0 Ambuja 245.8 Indusind 899.0 1,811.4 Tata 298.22 L&T 0.1% Cement 0.0% Bank 0.0% -0.3% Steel -0.3% 980.5 Bharti 431.9 1,500.1 317.4 M&M 1,317.8 ACC ITC -0.3% Airtel -0.3% -0.3% -0.3% -0.3% 924.4 259.0 3,972.2 384.5 1,908.4 BHEL Maruti GAIL Lupin -0.3% -0.4% -0.4% -0.5% -0.5% 2,616.3 ICICI 312.6 Yes 862.0 Tata 73.8 Power 138.6-0.6% Bank -0.8% Bank -0.9% power -0.9% Grid -1.0% 305.0 646.5 1,003.3 Kotak 712.8 Cairn 179.6 Cipla RIL -1.1% -1.1% -1.2% Bank -1.3% India -1.5% 107.2 Hero 2,563.8 134.5 Vedanta 158.6 HCL 936.3 NTPC -1.7% Moto -1.9% -2.6% Ltd -3.0% Tech -3.5% Source: Bloomberg, ICICIdirect.com Research 4

Trend Scanner Deal Team At Your Service Positive Trends Scrip Name Close % Change 10-day SMA Delivery (%) Bata India Ltd 1157.25 1.92 1072.90 51.56 Coal India Ltd 428.90 2.18 417.97 62.59 Pidilite Industries Ltd 565.95 4.71 551.93 58.91 Ultratech Cement Ltd 3161.50 1.91 2997.15 68.40 Negative Trends Scrip Name Close % Change 10-day SMA Delivery (%) Hindalco Industries Ltd 107.15-1.74 112.79 71.27 NTPC Ltd 134.45-2.57 137.37 85.92 Cairn India Ltd 179.60-1.48 183.10 66.85 Candlestick Pattern Bullish Candlestick Formations Bearish Candlestick Formations Scrip Name Pattern name LTP Scrip Name Pattern name LTP FM Goetze Engulfing Bull 356.5 Tata Power Dark Cloud Cover 73.9 Pidilite Belt Hold line 566.0 Hero Motocorp Dark Cloud Cover 2567.0 Ultratech Cement Continuation 3156.2 Vedanta Continuation 158.6 Coal India Continuation 430.2 Hindalco Continuation 106.9 Asian Paints Continuation 827.0 Bata India Continuation 1165.0 Overbought Stocks Oversold Stocks Scrip Name LTP Scrip Name LTP ACC 1500.1 GAIL 384.5 ZEE Entertainment 367.6 Hind Zinc 161.4 Market Breadth BSE NSE Stocks hitting 52 week high Stocks hitting 52 week low 39% 4% 57% 38% 3% 59% Scrip Name LTP Scrip Name LTP Coal India 430.2 Hindalco 106.9 Cummins India 969.1 Vedanta 158.6 HPCL 825.5 SRF 1326 Vadilal Industries 729.9 Source: Bloomberg, ICICIdirect.com Research 5

Previous Deal Team Day s Performance At Your Service Scrip Product Strategyt Recommended d Price Targets SL Gain/Loss %* Comment Nifty Future Buy In range of 8488-8493 8525/8545 8473.00 35 points Target 1 Achieved Ultratech Future Buy In range of 3100-3105 3140/3165 3085.00 1.85 Target 2 achieved HeroMotocorp Future Buy above 2625 2655/2675 2608.00-0.64 Stoploss triggered Hindalco Future Sell below 109 107/106 110.10 1.51 Target 1 almost achieved Stock profits: Avg 0.91% per trade (Cum. Profits over last 65 days: 98.60%) Strike Rate for the day: 2/3 (Cum strike rate over 65 days: 96/158 Nifty Points gained for the day: 35 points Gains over last 65 days: 111.5 points 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 di upon the entry and exit price and stop losses Source: NSE India, ICICIdirect.com Research 6

Supports and Resistance Table ( Cash Levels) SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND SENSEX 2817169 28171.69 28184.44 281217 28121.7 28058.95 28309.8585 28424.95 28540.1 +ve NIFTY 8510.8 8514.75 8495.35 8476 8553.5 8590.25 8627 +ve ACC 1500.1 1495.85 1490.2 1478.55 1507.15 1512.8 1524.4 Neutral ADANI ENTER. 92.05 91.95 91.1 90.25 93.7 94.15 94.65 +ve ADANI PORT 333.05 331.4 328.15 324.85 337.95 339.55 341.15 +ve ADITYA BIRLA 1927.05 1895.65 1853.9 1812.15 1935.3 1955.1 1974.9 -ve AJANTA PHARMA 1612.3 1614.6 1606.75 1598.9 1630.3 1644.5 1658.7 +ve ALLAHABAD BANK 89.65 89.7 89.15 88.65 90.8 9185 91.85 92.99 +ve AMARA RAJA BATT. 880.4 877.3 871.3 864.45 889.25 895.25 902.1 Neutral AMBUJA CEMENT 245.8 244.75 243.7 241.25 246.75 247.8 250.2 Neutral AMTEK AUTO 158.75 155.85 154.55 153.25 159.35 161.1 162.85 -ve ANDHRA BANK 70 70.1 69.7 69.35 70.9 71.6 72.35 +ve APOLLO HOSP.ENT. 1303.35 1298.25 1291.25 1281.6 1312.25 1319.2 1328.85 Neutral APOLLO TYRES 177.8 177.6 175.8 174 181.15 183.2 185.25 +ve ARVIND 293.2525 293.4 29105 291.05 288.7 298.15 304.8 3115 311.5 +ve ASHOK LEYLAND 72.95 72.15 71.3 70.4 73.15 73.65 74.1 -ve ASIAN PAINTS 824.6 819.4 809.95 800.45 838.3 846 853.65 +ve AUROBINDO PHARMA 1449 1449.05 1439.6 1430.15 1467.9 1483.35 1498.8 +ve AXIS BANK 586.2 586.15 583.8 581.45 590.85 593.95 597.05 +ve BAJAJ AUTO 2603.7 2602.1 2595.15 2588.15 2616.05 2624.45 2632.8 +ve BAJAJ FINANCE 5558 5538.75 5506.75 5465.5 5602.65 5634.6 5675.9 Neutral BOI 184.88 183.6 182.55 179.9595 185.7 186.75 189.3 Neutral BATA INDIA 1157.25 1157 1149.7 1142.45 1171.55 1193.65 1215.8 +ve BHARAT ELECTRON. 3452.85 3452.75 3421.45 3390.2 3515.25 3573.8 3632.35 +ve BHARAT FORGE 1072.85 1058.95 1039.7 1020.4 1075.85 1084.3 1092.75 -ve BPCL 932.35 929.3 925.3 917.1 937.3 941.35 949.5 Neutral BHARTI AIRTEL 431.85 429.65 427.5 425.4 432.35 433.7 435.1 -ve BHEL 259 257.8 256.35 254.3 260.7 262.15 264.15 Neutral BRITANNIA IND. 2787.5 2776.3 276115 2761.15 2734.65 2806.66 282175 2821.75 2848.2525 Neutral CAIRNS INDIA 179.6 178.55 177.15 175.75 179.95 180.65 181.35 -ve CANARA BANK 291.55 289.75 287.7 283.95 293.95 296.05 299.75 Neutral CASTROL INDIA 457.2 455.9 450.9 445.9 465.9 470.65 475.45 +ve CEAT 700.65 703.65 696.8 689.95 717.35 722.05 726.7 +ve CENTURY TEXT. 720.7 713.4 706.15 698.9 721.6 725.7 729.85 -ve CESC 576.1 574.35 570.3 566.25 582.45 590.6 598.7 +ve Source: NSE India, ICICIdirect.com Research 7

Supports and Resistance Table ( Cash Levels) SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND CIPLA 646.5 640.85 632.7 624.55 648.1 651.75 655.4 -ve COAL INDIA 428.9 427.6 424.7 421.85 433.35 435.55 437.8 +ve CROMPTON GREAVES 176.4 176.05 174.95 173.8 178.25 181.2 184.1 +ve DEWAN HOUSING F. 429.45 428.45 424.25 420.05 436.85 440.35 443.85 +ve DISH TV 105.6 103.85 103 102.2 105.75 106.7 107.7 -ve DIVI'S LAB. 1909.4 1901.9 1894.7 1873.3 1916.3 1923.5 1944.9 Neutral DLF 119.2 119 118.15 117.3 120.75 121.8 122.85 +ve DR.REDDY'S LAB. 3739.95 3717.3 3700.95 3654.25 3750.1 3766.5 3813.15 Neutral EXIDE IND. 150.35 150.45 149.9 149.35 151.55 152.65 153.7 +ve FEDERAL BANK 153.8 151.75 150.45 149.15 154.2 155.45 156.65 -ve GAIL 384.45 382.4 380.75 379.1 385.25 386.7 388.1 -ve GRASIM 3573.35 3577.15 3565.75 3554.35 3599.95 3626.5 3653.05 +ve HAVELL'S INDIA 299.25 297.55 293.6 289.65 305.4 308.3 311.15 +ve HCL TECH 936.3 923.6 915.05 906.55 941 949.7 958.4 -ve HDFC BANK 1086.85 1086.25 1083 1079.75 1092.75 1098.9 1105.1 +ve HDFC 1337.3 1336.1 1329.25 1322.4 1349.8 1356.05 1362.25 +ve HERO MOTO 2563.75 2536.15 2518.85 2501.55 2575.65 2595.4 2615.15 -ve HEXAWARE TECH. 255.25 255.45 254.05 252.65 258.25 260.7 263.1 +ve HINDALCO 107.15 106.25 105.4 104.55 107.4 107.95 108.55 -ve HIND. UNILEVER 924.35 917.5 913.65 909.8 923.4 926.35 929.3 -ve HPCL 824.5 82145 821.45 814.2 806.9 836 844.75 853.45 +ve IBULL HSG FIN 654.25 647.55 641.05 634.6 655.55 659.55 663.55 -ve IDBI 65.3 65.35 64.9 64.4 66.3 67.4 68.5 +ve IDEA CELLULAR 181 179.75 178.7 177.85 181.85 182.9 183.8 Neutral IDFC 152.1 152.4 151.65 150.9 153.9 155.05 156.15 +ve NSE IND.FIN.CORP.OF 26.95 26.95 26.8 26.65 27.3 27.7 28.05 +ve INDUSIND BANK 898.95 900.45 896.2 891.95 908.95 915.05 921.1 +ve INDIA CEMENTS 97.15 95.95 94.65 93.3535 97.3 98 98.7 - ve INDRAPRASTHA GAS 451.2 447.15 440.65 434.2 452.15 454.65 457.15 -ve IOC 427.1 424.45 421.55 418.9 430.2 433.05 435.75 Neutral IB REAL ESTATE 57.55 57.45 56.85 56.3 58.6 59.45 60.3 +ve INFOSYS 980.5 976.35 972.5 968.7 981.85 984.6 987.35 -ve IRB INFRA. 238.1 239.6 236.85 234.1 245.05 247.35 249.65 +ve ITC 317.35 316.65 315.85 314.2 318.25 319.05 320.75 Neutral Source: NSE India, ICICIdirect.com Research 8

Supports and Resistance Table ( Cash Levels) SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND JINDAL ST&POW 82.2 81 80.2 79.4 82.6 83.4 84.2 -ve JSW ENERGY 98.95 98.75 98.15 97.5 99.95 101.6 103.25 +ve NSE JSW STEEL 876.5 877.45 872.8 868.1 886.75 896.9 907.05 +ve JUBILANT FOOD 1937 1930.55 1922.15 1909.7 1947.3 1955.65 1968.15 Neutral KAVERI SEEDS.COM 743.45 746.05 740.95 735.85 756.25 764.2 772.15 +ve KOTAK MAH.BANK 1425.6 1411.5 1402.7 1393.95 1430.45 1439.9 1449.35 -ve L&T 18 11.35 1803.55 1796.35 1784.75 1817.95 1825.15 1836.8 Neutral LIC HOUSING 447.65 447.75 445.9 444.05 451.45 454.4 457.35 +ve LUPIN 1908.4 1897.8 1887.95 1868.1 1917.55 1927.45 1947.25 Neutral M & M 1317.8 1313.6 1307.85 1300.25 1325.1 1330.85 1338.5 Neutral MARUTI SUZUKI 3972.15 3950.65 3943.15 3935.65 3974.7 3986.7 3998.75 -ve MINDTREE 1270 1270 1265.5 1260.95 1279 1285 1291 +ve M&M FIN.SERV. 293.05 291.7 289.05 286.4 297 300.1 303.15 +ve MOTHERSON SUMI 514.5555 507.5555 50125 501.25 494.9595 516.1515 520.45 524.75 - ve NMDC 115.65 115.65 115.35 115.05 116.25 117.2 118.15 +ve NSE NTPC 134.45 132.85 132.35 131.8 135 136.1 137.15 -ve OIL INDIA 445.8 443.55 441.4 439.25 446.55 448.05 449.5 -ve ONGC 304.95 303.35 302.1 300.85 305.6 306.7 307.8 -ve OBC 182.2 182.55 180.95 179.35 185.75 187.65 189.6 +ve PAGE INDUSTRIES 15312.15 15319.95 15263.2 15206.45 15433.4 15545.9 15658.4 +ve PETRONET LNG 191 1.7 191 1.5 190 188.55 194.4545 195.8 197.15 +ve PIDILITE INDUSTRIES 565.95 563.9 556.5 549.15 578.65 582.85 587.1 +ve POWER FINANCE 257.9 255.15 253.35 251.6 258.85 260.65 262.5 -ve PTC INDIA 72.55 72.8 71.95 71.1 74.5 75.3 76.1 +ve PNB 145.1 145.25 144.6 144 146.45 147.95 149.45 +ve RCOM 64.2 64.35 63.85 63.35 65.35 66 66.7 +ve REL. CAPITAL 368.5 367.9 364.55 361.15 374.65 377.2 379.7 +ve RELIANCE INFRA. 410.95 407.9 401.9 395.95 419.85 424.1 428.35 +ve RELIANCE 1003.25 996.65 990.7 984.8 1004.95 1009.1 1013.25 -ve RELIANCE POWER 45.7 45.7 45.4 45.1 46.25 46.7 47.15 +ve REC 284.95 282.15 279.7 277.2 285.95 287.85 289.75 -ve SAIL 63.2 62.4 61.6 60.8 63.3 63.75 64.25 -ve SHRIRAM TRANS. 940.7 935.95 925.2 914.5 957.4 965.45 973.55 +ve SIEMENS 1450.1 1451.95 1445.25 1438.6 1465.3 1478.05 1490.8 +ve Source: NSE India, ICICIdirect.com Research 9

Supports and Resistance Table ( Cash Levels) SCRIP CLOSE S1 S2 S3 R1 R2 R3 TREND SKS MICRO FIN. 510.95 507.45 503.95 494.9 514.45 517.95 527.05 Neutral SOUTH INDIAN BANK 24.7 24.35 23.75 23.2 24.75 24.95 25.2 -ve S.R.F. 13 28.9 1331.3 132 1.4 13 11.45 13 51.15 137 6.7 1402.25 +ve SBI 272.9 272.7 271.55 270.4 275.05 277.4 279.8 +ve SUN PHARMA 885.35 884.7 880.5 876.3 893.1 897.8 902.5 +ve SUN TV 286.9 283.55 277.05 270.55 287.7 289.8 291.9 -ve SYNDICATEBANK 103 3.05 103 3.05 102 2.65 102.2 103 3.9 104.95 106 +ve TATA COMM. 450.8 450.05 445.85 441.65 458.45 461.05 463.7 +ve TATA CHEM. 449.25 448.15 444.65 441.15 455.15 459.4 463.65 +ve TATA MOTOR DVR 252.45 250.1 247.95 245.8 253.4 255.05 256.7 -ve TATA MOTORS 431.55 431.65 429.7 427.8 435.5 438.7 441.9 +ve TATA POWER 73.75 73.05 72.5 72 73.95 74.45 74.9 -ve TATA GLOBAL BEV. 138.2 138.25 136.6 135 141.55 142.55 143.55 +ve TCS 2616.25 2597.2 2581.05 2564.85 2619.15 2630.1 2641.1 -ve TECH MAHINDRA 471.4 471.15 468.1 465.05 477.2 480.5 483.75 +ve TATA STEEL 298.2 298.65 296.9 295.2 302.15 304.45 306.75 +ve TITAN IND. 361.05 360.45 358.6 356.8 364.15 365.6 367.1 +ve TVS MOTOR 270.25 269.65 267.85 266.1 273.2 276.6 280.05 +ve UCO BANK 53.8 53.1 52.5 51.9 53.95 54.35 54.8 -ve ULTRATECH CEMENT 3161.5 3155.55 3135.25 3114.95 3196.15 3214.6 3233.05 +ve UBI 165.5 164.25 162.9 160.4 166.9 168.25 170.7 Neutral UNITED PHOSPH. 552.9 546.65 541.4 536.15 553.7 557.25 560.75 -ve VOLTAS 318.45 315.2 312.3 309.45 319.35 321.45 323.55 -ve WIPRO 553.8 555.05 552.65 550.25 559.85 562.5 565.2 +ve WOCKHARDT 1496.85 1492.1 1474.4 1456.7 1527.5 1547.35 1567.2 +ve YES BANK 862 852.85 848.88 844.7 863.7 869.1 874.5 - ve ZEE 367.6 363.55 361.55 359.55 368.4 370.8 373.25 -ve Source: NSE India, ICICIdirect.com Research 10

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 11

Recommended product wise trading portfolio allocation Product Allocations Product wise Max allocation in allocation 1 Stock Number of Calls Return Objective Frontline Stocks Mid Cap Stocks Duration Daily Calls 8% 2-3% 3-4 Stocks 0.5-1% 2-3% Intraday Short term Delivery 6% 3-5% 7-10 Per Months 4-5% 7-10% Opportunity Based Weekly Calls 8% 3-5% 1-2 Stocks 5-7% 7-10% 1 Week Weekly Technicals 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 Technnical Breakout 15% 5-10% 1-2 Stocks 10% and above 15% and above 3-6 Months Cash 10% - 100% 12

Candlesticks Glossary: Deal Team At Your Service 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 Morning Star: Potential bottom reversal pattern made of three candle lines. The first sizeable black candle reflects a market in which the bears are in complete charge. The next candle line--the small real body--shows a slight diminution of the bearish force. The white candle that makes up the last part of the morning star visually displays the bulls are gaining the upper hand. Lowest low amongst three candles becomes technical support 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 Evening Star: Potential Top reversal pattern made of three candle lines. Comparable with a traffic signal. First white candle reflects a market in bullish trend. The next candle line--the small real body warns waning momentum. The black candle that completes the evening star visually exhibits that prior up trend has stopped or reversed 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 Continuation Patterns: Other than widely known Candlestick reversal patterns discussed above, there are numerous patterns mentioned in literature on Candlestick which describe the continuation of existing sentiments i.e. bullish or bearish. We have refrained from mentioning names of these patterns to avoid confusion. However, the remark Continuation Pattern refers to bullish or bearish candlestick patterns which h suggest continuation of existing trend 13

Pankaj Pandey Head Research pankaj.pandey@icicisecurities.com ICICIdirect.com Research Desk, ICICI Securities Limited, 1st Floor, Akruti Trade Centre, Road No 7, MIDC Andheri (East) Mumbai 400 093 research@icicidirect.com

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