momentum picks 4-feb-21 phillips carbon phicar buy 196-201...

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Research Analysts

Nitin Kunte, CMT

[email protected]

Vinayak Parmar

[email protected]

Dharmesh Shah

[email protected]

Pabitro Mukherjee

[email protected]

Ninad Tamhanekar, CMT

[email protected]

Momentum Picks

June 29, 2021For Instant stock ideas:

SUBSCRIBE to mobile notification on

ICICIdirect Mobile app…

Open Recommendations

Gladiator Stocks

Click here to know more…

Scrip Action

Sanghvi Movers Buy

Caplin point Buy

Tata Motors Buy

Duration: 3 Months

New recommendations

Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration

29-Jun-21 Nifty Nifty Buy 15785-15812 15848/15898 15744.00 Intraday

29-Jun-21 Canara Bank CANBAN Buy 157.00-158.00 159.20/160.90 155.90 Intraday

29-Jun-21 Apollo Tyre APOTYR Buy 226.00-228.00 229.40/232.00 224.60 Intraday

Open recommendations

Date Scrip I-Direct Code Action Initiation Range Target Stoploss Duration

25-Jun-21 KEC International KECIN Buy 446-455 490.00 429.00 14 Days

24-Jun-21 NRB Bearing NRBBEA Buy 137.00-143.00 158.00 129.00 14 Days

Intraday recommendations are for current month futures. Positional recommendations are in cash segment

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2

Sectors in focus (for the Intraday) :

Positive: IT, BFSI, Metal, Auto,

Capital Goods

Mom

entum

Pic

ks

NSE Nifty Daily Candlestick ChartTechnical Outlook

ICICI Securities Ltd. | Retail Equity ResearchSource: Bloomberg, Spider, ICICI Direct Research

NSE Nifty Daily Candlestick Chart

NSE (Nifty): 15815

Day that was…

Equity benchmarks started the week on a subdued note tracking muted

global cues. The Nifty ended Monday’s session at 15815, down 0.3%.

Market breadth remained flat with A/D ratio of 1.2:1. Sectorally, pharma,

metal, PSU bank outshone while IT took a breather.

Technical Outlook

• The Nifty scaled a fresh all-time high of 15916 and underwent minor

profit booking. As a result, the index formed a bear candle carrying

higher high-low, indicating breather at higher levels. In the process,

NSE turnover has declined to 58,000cr. below its 10 days average

of ~65,000cr.

• Key point to highlight over past two weeks is that, Nifty has been

facing intermediate resistance at 15900. However, the broader price

structure remains robust which makes us confident to believe,

index would eventually resolve above upper band of consolidation

and gradually head towards 16100 in coming weeks. We believe,

index has undergone time-wise consolidation wherein it oscillated

in the narrow range of 15900-15600 over past five weeks,

highlighting higher base formation around 15600 zone. We do not

expect the Nifty to breach its strong demand zone of 15600-15500.

Hence, temporary breather from here on should be capitalised to

as an incremental buying opportunity in quality large cap and mid

caps. The target of 16100 is based on following observations:

• a) price parity of post Budget rally (13597-15432), projected from

April low of 14151, at 16055

• b) past two month’s range (15140-14150) breakout target at 16120

• Our constructive stance is further validated by bottom up approach

based on following thesis: a) The Nifty IT index continued to show

resilience b) The Bank Nifty has relatively outperformed last week

after undergoing slower pace of retracement, c) Metal index has

been maintaining the rhythm of respecting 10 weeks EMA since

May 2020

• The broader market indices are undergoing healthy retracement

that helped weekly stochastic oscillator to cool off the overbought

conditions. We believe, the prolonged consolidation would pave

the way for higher base formation and make larger uptrend robust

• Structurally, the higher base formation signifies elevated buying

demand that makes us confident to maintain support base at 15500

zone as it is confluence of:

• a) 61.8% retracement of past four week’s rally (15145-15901), at

15435 b) past three week’s low is placed at 15450

• In the coming session, index is likely to open on a flat note tracking

mixed global cues. We expect, Nifty to trade with a positive bias

while maintaining higher high-low formation. Hence, use intraday

dip towards 15785-15812 to create long for target of 15898.

Target @

16100

Nifty to resolve above immediate

resistance of 15900 and head towards

16100 levels in coming weeks

Daily Stochastic pointing upward, indicating positive bias

Open High Low Close

15915.35 15915.65 15792.15 15814.70

Indices Close 1 Day Chg % Chg

SENSEX Index 52735.59 -189.45 -0.36

NIFTY Index 15814.70 -45.65 -0.29

Nifty Future 15854.95 -33.05 -0.21

BSE500 Index 21556.58 -7.58 -0.04

Midcap Index 22638.82 89.17 0.40

Small cap Index 25111.36 115.13 0.46

SGX Nifty 15855.00 0.05 0.00

* SGX Nifty at 7:30 am

Domestic Indices

Intraday Short term

Trend

Support 15770-15710 15500

Resistance 15860-15910 16100

20 day EMA 15665

200 day EMA 14044

Nifty Technical Picture

Action

Price Range

Target

Stoploss

Nifty Future Intraday Reco.

15744.00

Buy

15848/15898

15785-15812

15432

Key Support @

15200

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Nifty Bank: 35359

June 29, 2021 ICICI Securities Ltd. | Retail Equity Research

Technical Outlook Nifty Bank Index – daily Candlestick Chart

Source: Bloomberg, Spider, ICICI Direct Research

The Nifty Bank started the session on a positive note but profit

booking at higher levels saw the index giving up its intraday gains

and closed on a flat note. PSU banking stocks outperformed with

Nifty PSU bank index closed higher by 2.4%. The index closed

the session at 35359 levels down marginally by 5 points on

Monday

Technical Outlook

• The daily price action formed a high wave candle which

maintained higher high-low signalling consolidation after the

last week strong up move.

• Going ahead, we expect the index to trade with positive bias

and head towards 36200 levels in the coming weeks as it is

the confluence of the 80% retracement of the entire last three

months corrective decline (37708-30405) and the price parity

with previous up move (30405-34287) as projected from the

recent trough of 32115 signalling upside towards 36200 levels

• In a smaller time frame the index has witnessed a shallow

retracement as it has taken 13 sessions to retrace just 50% of

its preceding 12 sessions up move (32115-35810). Followed

by a sharp pullback in the last week as it has retraced almost

80% of its 11 sessions decline (35810-33908) in just five

sessions. A shallow retracement followed by a sharp pullback

highlights resilience

• The formation of higher high-low in the weekly time frame

gives us confident to revise the support base higher towards

34500 being the confluence of the following technical

observations:

• (a) The 61.8% retracement of the last five sessions up move

(33908-35491) placed at 34500 levels

• (b) The value of the rising demand line joining lows of April

2021 and May 2021 is placed around 34500.

• (c) The rising 50 days EMA is also placed at 34361 levels

• In the coming session, the index is likely to open on a flat note

amid mixed global cues. We expect the index to trade with

positive bias while sustaining above 35200 levels. Hence use

dips towards 35230-35290, for creating long position for the

target of 35530, maintain a stoploss of 35120

We expect the index to trade with positive bias and

gradually head towards 36200 in the coming weeks

Target @

36200

32115

37708

30405

Support @

34500

33908

Open High Low Close

35488.20 35576.95 35236.45 35359.45

Indices Close Change Change%

Nifty Bank 35359.45 -5.20 -0.01

Nifty Bank daily change

Intraday Short term

Trend

Support 35230-35040 34500

Resistance 35500-35630 36200

20 day EMA 34868

200 day EMA 31488

BankNifty Technical Picture

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Stock Picks

June 29, 2021 ICICI Securities Ltd. | Retail Equity Research 4

Apollo Tyre (APOTYR)– Daily candlestick chart

Source: Bloomberg, Spider, ICICI Direct Research

Duration: Intraday

Technical Observations


Price rebound after talking support at 50 day EMA and higher high on daily charts ,

suggesting further upsides in coming sessions

Daily Stochastic generated bullish crossover suggest upward bias

Canara Bank (CANBAN)– Daily candlestick chart

Falling channel breakout ,suggesting further northward journey in

coming sessions

Daily RSI in rising trajectory suggest positive bias

50 day

EMA

50 day

EMA

CMP 157.95

Action Buy

Initiation Range 157.00-158.00

Target 159.20/160.90

Stop Loss 155.90

Rationale

Falling channel breakout &RSI in

buy mode

CMP 226.90

Action Buy

Initiation

Range226.00-228.00

Target 229.40/232.00

Stop Loss 224.60

Rationale

Price rebound after talking support

at 50 day EMA and higher high on

daily charts

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5

Buy KEC International (KECIN) in the range of 446.00-455.00


Source: Bloomberg, Spider Software, ICICI Direct Research


Stock Picks

Target: 490.00 Stop Loss: 429.00

Duration: 14 days

• The share price of KEC logged a

resolute breakout from three

months consolidation (| 444-368)

on the back of highest weekly

volume since July 2017, indicating

resumption of primary up trend

that augurs well for next leg of up

move

• Key point to highlight is that,

current leg of up move has seen

faster pace of retracement as past

fourteen sessions decline (| 435-

389) retraced in just four sessions,

highlighting structural

improvement

• We expect the stock to head

towards |490 levels in the coming

weeks as it is 161.8% external

retracement of past three months

consolidation (444-368)

• Among oscillators, the daily

MACD has been diverging from its

average while pointing upward,

indicating acceleration of upward

bias

Price logged a resolute breakout from three months consolidation on the back of robust

volume, indicating resumption of primary up trend

Daily Bar ChartTarget @ 490

Recommendation initiated on i-click to gain at 15:14 on June 25, 2021

Support @ 429 being the

50% retracement of current

up move

389

Daily MACD is pointing upward while sustaining above its zero line, indicating acceleration of upward momentum

435

444

368

486

350

Faster Retracement

Current up move has been backed by rising volumes, highlighting larger participation in the direction of breakout

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Buy NRB Bearing (NRBBEA) in the range of 137.00-143.00


Source: Bloomberg, Spider Software, ICICI Direct Research


Stock Picks

Target: 158.00 Stop Loss: 129.00

Duration: 14 days

• The Auto ancillary space continue

to outperform with most of the

stock forming higher high-low.

The share price of NRB Bearing

has generated a resolute breakout

above a bullish Flag pattern

signalling continuation of the up

move and offers fresh entry

opportunity

• We expect the stock to head

towards | 158 levels in the

coming weeks being the price

parity with previous up move

(113-141=28 points) added to the

recent trough of around | 130

signals upside towards 158 levels

• The base of the recent

consolidation is placed at the 20

days EMA (currently at | 130

levels) thus signals a positive

price structure

• The breakout above the flag

pattern is supported by strong

volume of more than four times

the 200 days average volume of 5

lakhs share per day highlighting

larger participation in the direction

of trend

• Among the oscillators the daily

MACD is in up trend and is seen

rebounding taking support at its

nine periods average thus

validates positive bias

A bullish Flag breakout and a higher base at 20 days EMA signalling strength and

offers fresh entry opportunity

Daily Bar Chart

Target @ 158

Recommendation initiated on i-click to gain at 11:20 on June 24, 2021

Support @ 130 being the

confluence of the 20 days EMA and

the 38.2% retracement of its

previous up move (| 113-141)

126

MACD in up trend and is seen rebounding taking support at its nine periods average thus validates positive bias

141

97

67

113

130

Breakout above a bullish flag pattern with strong volume

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Market Activity Report


Global Equity Market Performance

Advance Decline

Source: Bloomberg, Investing, ICICI Direct Research

Currency/Yield/

Commodities

Close1 Day %

Change

Currency

USD INR 74.27 0.0

Dollar Index 91.92 0.1

EURO USD 1.19 -0.1

GBP USD 1.39 -0.2

JPY 110.50 -0.1

Swiss Franc 0.92 0.1

Commodities ($)

Gold 1,775.15 -0.3

Brent 73.90 -0.3

Copper 9,388.00 -0.3

Silver 26.09 -0.5

Yield (bps change)

India 106.06 0.028

US 1.48 0.004

EURO -0.19 -0.004

Japan 0.05 -0.008

Global Currency, Commodities and Bond

-1.0

-0.9

-0.3

-0.4

-0.9

-0.6

-0.4

-0.4

0.1

-1.5 -1.0 -0.5 0.0 0.5

France

UK

Germany

China

Japan

Hong Kong

India

US

Brazil

% Change

1 Day Change

-100

300

700

1100

1500

1900

2300

18-Jun 21-Jun 22-Jun 23-Jun 24-Jun 25-Jun 28-Jun

Advances Declines

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Market Activity Report


Fund Flow activity of the last 5 sessions

Source: Bloomberg, ICICI Direct Research

Sectoral Indices Close1 Day %

Change

Sensex 52,735.6 -0.4

Nifty 15,814.7 -0.3

BSE Auto 23,986.4 0.1

Bankex 40,017.6 0.0

Capital Goods 22,954.9 -0.6

Consumer Durables 35,643.0 0.0

FMCG 13,495.8 0.2

Healthcare 25,362.5 1.1

IT 29,922.2 -0.4

Metal 18,941.6 1.3

Oil & Gas 16,457.4 -0.3

Power 2,789.3 -0.4

Realty 2,764.6 0.1

BSE 500 21,556.6 0.0

BSE Midcap Index 22,638.8 0.4

BSE Small Cap 25,111.4 0.5

Sectoral Indices Performance

-1,028

3,157

-2,891

-679

-1,659

-3,400

-2,400

-1,400

-400

600

1,600

2,600

3,600

22-Jun 23-Jun 24-Jun 25-Jun 28-Jun

Rs C

rore

Date

FII

302

1,317

1,139

1,833

1,277

-200

300

800

1,300

1,800

22-Jun 23-Jun 24-Jun 25-Jun 28-Jun

Rs C

rore

Date

DII

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Trend Scanner

June 29, 2021 ICICI Securities Ltd. | Retail Equity Research 9Source: Bloomberg, ICICI Direct Research

Heat Map

Bullish Candlestick Formations Bearish Candlestick Formations

Scrip Name Pattern name LTP Scrip Name Pattern name LTP

Asahi India Hammer 320.00 Aegis Chemical Dark cloud cover 349.0

Nesco Belt hold line 613.0 Bajaj Electrical Engulfing 1034.0

Rites Engulfing 276.7 Sun TV Engulfing 538.0

Tata Steel Continuation 1184.0

Candlestick Pattern

Scrip Name LTP

CSB Bank 358

Dalmia Sugar 474

Nalco 80

Persistent 2697

52 Weeks High

Overbought Stocks

Scrip Name LTP Stochastic

BEL 174 93

Ultratech Cement 6870 81

Scrip Name LTP Stochastic

Reliance Industries 2086 9

Bajaj Consumer 286 8

Rallis India 328 10

Oversold Stocks

Apollo Hospitals 3454.15 0.44 3307.00 22

Bandhan Bank 346.70 4.11 323.00 32

Gujarat Gas 671.35 4.36 624.00 20

Jindal Steel&power 408.35 3.22 400.00 21

Info Edge 4978.10 0.48 4765.00 30

Positive Trend Universe: NSE 500

Scrip Name Close

Change

%

20-Day

SMA

Delivery

( %)

REC 142.55 -0.56 148.00 42

Negative Trend Universe: NSE 500

Scrip Name Close

Change

%

20-Day

SMA

Delivery

( %)

Dr

Reddy

5,404

Hindalco

382 Tata

Steel

1,184 Divis

Lab

4,314

TechM

1,105

1.8% 1.7% 1.6% 1.5% 1.4%

ONGC

122 Tata

Consum

766 Tata

Motors

343 Grasim

Ind

1,521 JSW

Steel

695

1.2% 1.1% 0.9% 0.9% 0.8%

Eicher

2,740

Cipla

963 Sun

Pharma

676 Adani

Ports

716

UPL

809

0.7% 0.6% 0.6% 0.6% 0.5%

HUL

2,460 Power

Grid

232 ICICI

Bank

650 Hero

Moto

2,944 Axis

Bank

762

0.5% 0.4% 0.2% 0.2% 0.1%

NTPC

116

Nestle

17,506

Wipro

547

Britannia

3,667

M&M

794

0.1% 0.0% 0.0% -0.1% -0.1%

Kotak

Bank

1,733

Infosys

1,572 Bajaj

Auto

4,183 Indusind

Bank

1,009 HDFC

Bank

1,508

-0.1% -0.2% -0.3% -0.4% -0.4%

SBI

427

IOC

111

SBI Life

1,002 HDFC

Ltd

2,495

L&T

1,514

-0.5% -0.5% -0.5% -0.6% -0.6%

BPCL

467 Bajaj

Finance

6,037

Maruti

7,596 Asian

Paints

2,983

ITC

204

-0.6% -0.6% -0.7% -0.7% -0.7%

Bharti

Airtel

531

Ultratech

6,869 Bajaj

Finserv

12,378 Reliance

Ind.

2,086 HCL

Tech

985

-0.7% -0.8% -0.9% -0.9% -1.0%

Coal

India

147 Shree

Cement

28,390

TCS

3,337

Titan

1,728 HDFC

Life

696

-1.0% -1.2% -1.3% -1.5% -4.1%

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Intraday Supports and Resistance (Cash)


Scrip Name Trend Close S1 S2 S3 R1 R2 R3

NIFTY 50 Positive 15814.7 15766 15718 15643 15890 15965 16013

S&P BSE SENSEX INDEX Positive 52735.59 52563 52392 52110 53017 53298 53470

NIFTY BANK Positive 35359.45 35205 35051 34865 35546 35732 35886

NIFTY 50 FUTURES Positive 15861.65 15814 15767 15709 15919 15977 16023

NIFTY BANK FUTURES Positive 35543.55 35266 34988 34626 35906 36268 36546

AARTI INDUS LTD Neutral 868 860 853 845 874 881 888

ACC LTD Neutral 2050.95 2030 2008 1993 2067 2082 2104

AMBUJA CEMENTS Neutral 344.35 341 339 334 348 353 355

ADANI POWER LTD Negative 118.2 113 107 103 123 127 133

ADANI ENTERPRISE Positive 1525.75 1507 1489 1460 1554 1583 1601

ADANI PORTS AND Positive 716.25 710 703 693 727 737 744

ALKEM LABORATORI Positive 3130.1 3087 3044 2990 3183 3236 3279

ASHOK LEYLAND Neutral 124.75 122 121 119 125 127 128

AMARA RAJA BATT Positive 750.9 747 743 739 755 759 764

ALEMBIC PHARMACE Positive 1001.65 982 963 951 1013 1025 1043

APOLLO HOSPITALS Positive 3454.15 3408 3361 3320 3496 3537 3584

ASIAN PAINTS LTD Negative 2982.95 2959 2936 2897 3022 3062 3084

AU SMALL FINANCE Positive 1050.45 1034 1018 1007 1061 1072 1088

APOLLO TYRES LTD Positive 229.05 223 217 213 233 237 242

AUROBINDO PHARMA Positive 967.8 955 943 935 976 985 997

AXIS BANK LTD Positive 762.4 756 751 745 768 775 780

BAJAJ FINANCE LT Neutral 6037.05 5996 5954 5894 6099 6160 6202

BATA INDIA LTD Negative 1625.6 1618 1610 1600 1636 1646 1654

BHARTI AIRTEL Positive 531.2 529 526 522 536 540 542

BHARAT ELECTRON Positive 173.75 173 171 169 177 179 181

BHARAT HEAVY ELE Positive 66.3 65 64 63 67 68 69

BHARAT FORGE CO Negative 738.85 734 730 724 744 750 754

BALKRISHNA INDS Positive 2258.2 2241 2225 2208 2274 2291 2307

BIOCON LTD Positive 404.15 398 392 386 410 416 423

BAJAJ AUTO LTD Negative 4183.45 4165 4146 4126 4204 4224 4243

BAJAJ FINSERV LT Negative 12377.9 12292 12206 12093 12492 12606 12692

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BANDHAN BANK LTD Neutral 346.7 334 320 309 358 368 382

BANK OF BARODA Positive 87.8 86 83 81 90 91 94

BANK OF INDIA Positive 80.5 79 77 75 82 83 85

BOSCH LTD Positive 15152.3 15086 15020 14970 15202 15252 15318

BHARAT PETROL Neutral 467.15 466 464 461 471 474 477

BERGER PAINTS Neutral 804.75 799 795 786 812 821 826

BRITANNIA INDS Negative 3667.25 3645 3623 3603 3687 3707 3729

CANARA BANK Positive 156.95 154 152 150 158 160 162

CONTAINER CORP Positive 701.45 696 691 684 708 715 720

CADILA HEALTHCAR Positive 642.5 632 620 614 649 656 667

CENTURY TEXTILE Negative 598.4 591 585 578 605 613 619

CESC LTD Positive 770.65 765 759 752 777 785 790

CHOLAMANDALAM IN Neutral 523.65 517 511 502 533 543 548

CIPLA LTD Positive 963.05 957 950 942 971 978 985

COFORGE LTD Neutral 4122.45 4078 4035 4005 4151 4181 4224

COLGATE PALMOLIV Negative 1668.95 1660 1653 1641 1680 1692 1699

COAL INDIA LTD Neutral 147.2 147 146 145 149 150 151

CITY UNION BANK Negative 171 168 166 162 174 178 180

DABUR INDIA LTD Neutral 567.05 565 563 561 570 571 574

DEEPAK NITRITE Positive 1775.95 1760 1744 1717 1803 1830 1846

DIVI LABS LTD Positive 4314.4 4261 4207 4163 4359 4403 4457

DLF LTD Positive 293.55 291 289 286 296 299 301

DR REDDY'S LABS Positive 5404.25 5338 5272 5231 5445 5486 5553

EICHER MOTORS Positive 2740.45 2717 2695 2677 2757 2775 2798

EQUITAS HOLDINGS Neutral 94.1 93 92 90 95 96 97

ESCORTS LTD Positive 1202.75 1184 1165 1152 1216 1229 1248

EXIDE INDUS LTD Positive 183.4 183 182 180 185 186 188

FED BANK LTD Positive 87.35 86 85 84 88 89 90

GAIL INDIA LTD Neutral 153.35 153 151 150 156 157 159

GODREJ CONSUMER Neutral 869.75 864 860 853 876 884 888

GODREJ PROPERTIE Positive 1402 1393 1384 1374 1413 1424 1433

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GRANULES INDIA Positive 316.35 313 309 305 320 324 328

GMR INFRASTRUCTU Negative 31.25 30 30 29 31 32 32

GLENMARK PHARMA Positive 667.05 650 633 622 678 689 706

GRASIM INDS LTD Positive 1520.6 1507 1493 1473 1541 1561 1576

GUJARAT GAS LTD Positive 671.35 654 636 624 685 696 715

HAVELLS INDIA Positive 992.3 986 979 967 1005 1017 1024

HCL TECH LTD Negative 985.3 980 974 964 996 1006 1012

HOUSING DEV FIN Positive 2494.95 2483 2471 2451 2515 2535 2547

HDFC ASSET MANAG Positive 2973.15 2946 2918 2881 3011 3048 3076

HDFC LIFE INSURA Negative 696.2 684 672 650 718 740 752

HDFC BANK LTD Neutral 1508.35 1501 1494 1483 1519 1530 1537

HERO MOTOCORP LT Positive 2943.65 2930 2915 2901 2959 2973 2988

HINDALCO INDS Positive 382.3 377 370 366 388 392 398

HINDUSTAN PETRO Positive 297.25 295 294 291 299 302 303

HINDUSTAN UNILEV Negative 2460.2 2443 2426 2415 2471 2482 2498

VODAFONE IDEA LT Positive 10.45 11 10 10 12 12 12

IDFC FIRST BANK Neutral 56.95 57 56 55 59 60 61

INDRAPRASTHA GAS Positive 533.55 521 507 495 547 559 572

INDIABULLS HOUSI Positive 268.15 264 260 253 275 282 287

INDUSIND BANK Positive 1008.9 1000 990 980 1021 1032 1042

INDUS TOWERS LTD Positive 244.6 242 240 237 247 250 252

INTERGLOBE AVIAT Positive 1729.6 1717 1705 1689 1744 1759 1771

INFOSYS LTD Positive 1571.8 1562 1551 1542 1581 1591 1601

INFO EDGE Positive 4978.1 4922 4866 4822 5022 5066 5123

INDIAN OIL CORP Negative 110.85 110 110 109 111 112 113

ICICI PRUDENTIAL Positive 619.6 614 608 604 624 628 633

INDIAN RAILWAY C Positive 2077.75 2060 2042 2016 2104 2130 2148

ITC LTD Neutral 203.6 202 201 200 205 207 207

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JINDAL STEEL & P Positive 408.35 398 388 383 414 420 430

JSW STEEL LTD Negative 695.35 685 674 666 703 712 722

JSW ENERGY LTD Negative 153.6 151 149 146 156 159 161

JUBILANT FOODWOR Neutral 3117.9 3093 3069 3042 3143 3169 3193

JUST DIAL LTD Negative 975.1 964 951 930 997 1018 1031

CUMMINS INDIA Positive 871.9 860 849 841 879 887 898

KOTAK MAHINDRA Neutral 1733.05 1720 1708 1694 1746 1760 1772

LIC HOUSING FIN Neutral 468.2 466 464 461 471 474 476

LUPIN LTD Positive 1164.25 1157 1149 1142 1171 1177 1185

LARSEN & TOUBRO Neutral 1514.45 1508 1500 1490 1526 1536 1543

L&T FINANCE HOLD Positive 95.05 94 93 92 95 97 97

L&T INFOTECH LTD Negative 4122.15 4081 4040 3968 4194 4266 4308

L&T TECHNOLOGY S Neutral 2885.45 2858 2830 2784 2932 2978 3007

DR LAL PATHLABS Negative 3146 3104 3062 3028 3180 3214 3255

MAHANAGAR GAS LT Positive 1151.2 1133 1113 1101 1165 1177 1196

MAX FINANCIAL SE Positive 1079.6 1065 1049 1035 1094 1109 1124

MANAPPURAM FINAN Positive 164.1 163 162 161 165 166 166

MAHINDRA & MAHIN Negative 793.5 789 784 779 799 804 809

M&M FIN SERVICES Positive 158.65 158 157 155 160 161 162

MARICO LTD Negative 509.55 507 503 499 514 517 521

MRF LTD Negative 80554.65 80081 79607 79073 81089 81623 82097

MARUTI SUZUKI IN Positive 7596.25 7546 7495 7419 7673 7749 7799

MOTHERSON SUMI Negative 235.3 233 232 229 238 240 242

MINDTREE LTD Neutral 2551.5 2522 2494 2471 2573 2596 2624

MUTHOOT FINANCE Positive 1489.95 1479 1467 1459 1499 1507 1519

NIPPON LIFE INDI Positive 368.15 363 357 352 373 378 384

NATIONAL ALUMIN Positive 80.05 74 69 63 84 89 94

NBCC INDIA LTD Neutral 54.4 54 53 53 56 57 58

NESTLE INDIA LTD Neutral 17506.15 17434 17361 17268 17601 17694 17767

NAVIN FLUORINE I Positive 3709.8 3642 3575 3524 3760 3811 3878

NCC LTD Neutral 86.55 83 81 79 87 89 92

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NMDC LTD Positive 182.1 179 176 173 185 188 191

NTPC LTD Neutral 116.15 116 115 114 118 119 120

OIL INDIA LTD Positive 162.05 158 154 151 165 168 172

OIL & NATURAL GA Neutral 122.35 122 120 119 124 126 127

PAGE INDUSTRIES Neutral 29588.35 29439 29288 29195 29683 29776 29926

PIDILITE INDS Positive 2155.2 2133 2112 2090 2177 2200 2220

PI INDUSTRIES Positive 2939.9 2897 2856 2824 2971 3003 3044

PIRAMAL ENTERPRI Positive 2417.05 2375 2333 2260 2490 2563 2606

PETRONET LNG LTD Positive 227.85 227 226 225 229 230 231

PUNJAB NATL BANK Positive 43.35 42 42 41 43 44 45

POWER FINANCE Positive 124.15 122 122 120 125 126 127

PFIZER LTD Positive 5578.95 5536 5492 5450 5623 5666 5709

PVR LTD Negative 1374.35 1359 1345 1329 1389 1405 1419

POWER GRID CORP Neutral 231.85 232 230 230 233 234 235

RBL BANK LTD Positive 214.7 212 209 206 218 221 225

REC LTD Positive 142.55 141 140 138 144 146 147

RELIANCE INDS Negative 2086 2070 2053 2024 2115 2144 2161

STEEL AUTHORITY Positive 133.2 130 128 126 134 136 138

STATE BANK IND Positive 426.75 423 419 414 431 437 440

SBI LIFE INSURAN Positive 1002.1 994 985 973 1016 1029 1038

SHRIRAM TRANSPRT Positive 1372.55 1361 1349 1335 1388 1402 1414

SIEMENS LTD Neutral 2011.45 2003 1993 1980 2025 2039 2048

SHREE CEMENT Neutral 28390.2 28179 27968 27585 28772 29154 29365

SRF LTD Positive 7118.65 7062 7004 6962 7161 7202 7260

SUN PHARMA INDU Positive 676.3 670 665 660 680 685 691

SUN TV NETWORK Negative 538.35 533 527 520 547 555 561

TATA STEEL LTD Positive 1184 1169 1153 1143 1195 1205 1221

TATA CONSULTANCY Negative 3336.75 3317 3296 3258 3375 3413 3434

TECH MAHINDRA LT Positive 1105.1 1088 1071 1061 1115 1125 1142

TATA CONSUMER PR Positive 765.65 760 754 750 771 776 782

TORRENT POWER LT Positive 452.4 446 438 431 461 468 476

TATA POWER CO Positive 122.55 121 119 118 123 125 126

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RAMCO CEMENT/THE Neutral 1037.55 1033 1027 1019 1047 1055 1061

TORRENT PHARMA Positive 2936.05 2880 2825 2775 2985 3035 3090

TITAN CO LTD Negative 1728.05 1710 1690 1661 1758 1788 1807

TATA CHEMICALS Positive 721.9 718 713 707 728 734 739

TATA MOTORS LTD Positive 342.8 339 335 332 346 349 354

TRENT LTD Positive 881.35 862 843 831 893 905 923

TVS MOTOR CO LTD Positive 621.55 617 612 606 629 636 641

UNITED BREWERIES Positive 1429.75 1394 1358 1335 1453 1476 1511

UJJIVAN FINANCIA Neutral 209.4 206 203 200 211 215 217

UNITED SPIRITS Neutral 670.8 661 653 646 676 683 692

UPL LTD Negative 809.1 803 797 792 815 819 826

ULTRATECH CEMENT Negative 6869.45 6826 6782 6705 6947 7024 7068

VEDANTA LTD Positive 267.75 263 257 254 271 275 280

VOLTAS LTD Positive 1042.55 1029 1017 1001 1058 1074 1086

WIPRO LTD Neutral 547.4 543 540 537 550 554 556

YES BANK LTD Positive 13.65 14 14 14 14 14 15

ZEE ENTERTAINMEN Positive 219.15 217 215 212 221 223 225

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Forthcoming Economic Event Calendar


Date Event Date Event

US China

30-Jun ADP Employment Change 30-Jun Manufacturing PMI

30-Jun MNI Chicago PMI 30-Jun Non-manufacturing PMI

30-Jun Pending Home Sales MoM 1-Jul Caixin China PMI Mfg

1-Jul Markit US Manufacturing PMI 3-Jul Caixin China PMI Services/Composite

1-Jul ISM Manufacturing 9-Jul New Yuan Loans CNY

2-Jul Change in Nonfarm Payrolls

India UK

30-Jun Eight Infrastructure Industries 30-Jun Lloyds Business Barometer

1-Jul Markit India PMI Mfg 4-Jul Markit UK PMI Manufacturing SA

5-Jul Markit India PMI Services/Composite 7-Jul Markit/CIPS UK Services PMI

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Momentum Picks: Strategy Follow up


Duration: Intraday

Date Scrip

Idirect

Code

Strategy Recommended Price Targets SL Gain/Loss % Comment

28-Jun-21 Nifty Nifty Buy 15838-15860 15898/15948 15796.00 0.00 Closed at cost

28-Jun-21 Axis Bank AXIBAN Buy 762.00-764.00 769.80/777.00 755.70 0.90 Target 1 achieved

28-Jun-21 Glenmark GLEPHA Buy 650.00-651.00 656.40/662.50 644.30 1.70 Target 2 achieved

Duration: Cash Positional

Date Scrip Idirect Code Strategy Recommended Price Targets SL Gain/Loss % Comment

8-Jun-21 Mindtree MINLIM Buy 2420 2670.00 2285.00 5.00 Book 50% profit at 2536.00

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Gladiator Stocks: Open Recommendations


Back to Top

Date Scrip Name Strategy Recommendations Price Target Stoploss Time Frame

15-Jun-21 Sanghvi Movers Buy 188-196 230.00 172.00 3 Months

14-Jun-21 Tata metalik Buy 1115-1140 1355.00 1020.00 3 Months

14-Jun-21 Caplin point Buy 660-675 780.00 598.00 3 Months

14-Jun-21 Tata motors Buy 348-358 405.00 324.00 3 Months

31-May-21 Reliance Ind Buy 2140-2190 2490.00 2010.00 3 Months

16-Apr-21 Escorts Buy 1220-1245 1420.00 1105.00 6 Months

All the recomedations are in Cash segment

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19June 29, 2021 ICICI Securities Ltd. | Retail Equity Research

Price history of last three years

Source: Spider Software, ICICI Direct Research

KEC International NRB Bearing

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Product Guidelines......


• In case of intraday stock recommendations, execute the trade within +/- 0.25% of the recommended range provided inthe report. The stock recommendation has to be execute after the first 5 minutes of trade and only up to 11:00 am. In

case of Nifty future execute after the first 5 minutes of trade and up to 03:00 pm

• In case of positional recommendations, execute the recommendations in the range provided in the report

• Once the recommendation is executed, it is advisable to maintain strict stop loss as provided in the report. For positionalrecommendation maintain stop loss on daily closing basis

• We adapt a trading strategy of booking 50% profit when the position is in profit by 4-5% and trail stop loss on remainingposition to the entry point (In case of positional stock recommendations)

• In case of intra day Nifty futures recommendation, once recommendation is activated, consider booking 50% profit near1

stTarget (tolerance of 3 points) and trail stop loss to cost for remaining positions

• If the recommended intra day stock hits the target price before getting activated, then it is considered not initiated

• The Intra day recommendations are valid only for the day and should be squared off by 15:10 hrs. The positionalrecommendations are valid only for the prescribed period and are to be squared off at the end of mentioned period

unless communicated otherwise through separate mail or on i-click to gain page

• Only stocks in derivatives segment have been considered for intra day recommendations

• Medium to long-term prospects of a stock does not have any bearing on the intra day view

Trading portfolio allocation

• It is recommended to spread out the trading corpus in a proportionate manner between the various technical researchproducts

• 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 ‘Momentum Pick’ product carries 2 to 4 intraday recommendations. It is advisable to allocate equalamount to each recommendation

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June 29, 2021 ICICI Securities Ltd. | Retail Equity Research 21Source: ICICI Direct Research

Recommended product wise trading portfolio allocation

Duration

Momentum Picks-

Intraday

10% 30-50% 2 Stocks 1-2% Intraday

Momentum Picks-

Positional

25% 8-10% 8-10 Per Month 5-8% 14 Days

Yearly Technical 25% 12-15%7-9 Per Year 20-30% 1 Year

Gladiator Stocks 35% 10-13% 15-20% 6 Months

Cash 5%

-

100%

Number of Calls Return Objective

Product Product wise

allocation

Allocations

Max allocation

In 1 Stock

Opportunity Based

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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 suggest continuation of existing trend

Candlesticks Glossary


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Pankaj Pandey Head – Research [email protected]

ICICI Direct Research Desk,

ICICI Securities Limited,

1st Floor, Akruti Trade Centre,

Road No 7, MIDC,

Andheri (East)

Mumbai – 400 093

[email protected]


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We/I, Dharmesh Shah, Nitin Kunte, Ninad Tamhanekar, Pabitro Mukherjee, Vinayak Parmar Research Analysts, authors and the names subscribed to this report, here by 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 compensations, is, or will be directly or indirectly related to the specific recommendation(s) or

view(s) in this report. We confirmed that above mentioned Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding twelve months and do not serve

as an officer, director or employee of the companies mentioned in the report

Terms & conditions and other disclosures:

ICICI Securities Limited (ICICI Securities) is a full-service, integrated investment banking and is, inter alia, engaged in the business of stock brokering and distribution of financial products.

ICICI Securities is Sebi registered stock broker, merchant banker, investment adviser, portfolio manager and Research Analyst. ICICI Securities is registered with Insurance Regulatory Development Authority of India

Limited (IRDAI) as a composite corporate agent and with PFRDA as a Point of Presence. ICICI Securities Limited Research Analyst SEBI Registration Number – INH000000990. ICICI Securities Limited SEBI Registration

is INZ000183631 for stock broker. ICICI Securities is a subsidiary of ICICI Bank which is India’s largest private sector bank and has its various subsidiaries engaged in businesses of housing finance, asset

management, life insurance, general insurance, venture capital fund management, etc. (“associates”), the details in respect of which are available on www.icicibank.com.

Recommendation in reports based on technical and derivative analysis centre on studying charts of a stock's price movement, outstanding positions, trading volume etcas opposed to focusing on a company's

fundamentals and, as such, may not match with the recommendation in fundamental reports. Investors may visit icicidirect.com to view the Fundamental and Technical Research Reports. Our proprietary trading and

investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein.

ICICI Securities Limited has two independent equity research groups: Institutional Research and Retail Research. This report has been prepared by the Retail Research. The views and opinions expressed in this

document may or may not match or may be contrary with the views, estimates, rating, target price of the Institutional Research.

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

ICICI Securities. While we would endeavour to update the information herein on a reasonable basis, ICICI Securities is under no obligation to update or keep the information current. Also, there may be regulatory,

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

information herein is solely for informational purpose and shall not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments. Though

disseminated to all the customers simultaneously, not all customers may receive this report at the same time. ICICI Securities will not treat recipients as customers by virtue of their receiving this report. Nothing in

this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions

expressed in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. This may

not be taken in substitution for the exercise of independent judgment by any recipient. The recipient should independently evaluate the investment risks. The value and return on investment may vary because of

changes in interest rates, foreign exchange rates or any other reason. ICICI Securities accepts no liabilities whatsoever for any loss or damage of any kind arising out of the use of this report. Past performance is not

necessarily a guide to future performance. Investors are advised to see Risk Disclosure Document to understand the risks associated before investing in the securities markets. Actual results may differ materially

from those set forth in projections. Forward-looking statements are not predictions and may be subject to change without notice.

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 encourages independence in research report preparation and strives to minimize conflict in preparation of research report. ICICI Securities or its associates 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 and their

relatives have any material conflict of interest at the time of publication of this report.

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 or

their relatives 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 and ICICI Securities as a entity 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 may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Neither

the Research Analysts nor ICICI Securities have been engaged in market making activity for the companies mentioned in the report.

We submit that no material disciplinary action has been taken on ICICI Securities by any Regulatory Authority impacting Equity Research Analysis activities.

This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution,

publication, availability or use would be contrary to law, regulation or which would subject ICICI Securities and affiliates to any registration or licensing requirement within such jurisdiction. The securities described

herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such

restriction.


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