RepleteBell Indian Equity Market Update

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Wednesday, 13th 2017

Indian equity benchmarks edged lower ahead of U.S. Fed meet due later tonight and last phase of Gujarat Assembly Election tomorrow.

The Federal Reserve is expected to raise interest rates after its meeting on Wednesday, and it’s anticipated that the European Central Bank will reveal details of plans to taper asset purchases on Thursday.

The S&P BSE Sensex fell 175 points or 0.53 percent to 33,053 and the NSE Nifty 50 Index declined 47 points or 0.46 percent to 10,193.

Seventeen out of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Realty Index’s 2.2 percent drop. On the other hand, the S&P BSE Oil & Gas Index was the top sectoral gainer, up 0.5 percent.

Fab Four Stocks Of The Day
  • Punj Lloyd: The Delhi-based infrastructure construction company rose as much as 13.5 percent, the most in three months, to Rs 23.40 after it bagged multiple orders worth Rs 1,453 crore from GAIL India and NHAI.
  • DIC India: The Kolkata-based chemical maker was locked in a 20 percent upper circuit at Rs 590 after it said that the company has identified a buyer for the sale of its 12,830-square meter land in Mumbai.
  • Hindustan Copper: The Kolkata-based copper producer rose as much as 8.35 percent, the most since Nov. 16, to Rs 96.70 after the company said that it has re-opened its coal mine located in Jharkhand. The mine is expected to produce 2.25 lakhs metric tonne of copper ore annually.
  • JK Cement: The Kanpur-based cement maker rose as much as 8.4 percent, the most in over six months after the Supreme Court allowed cement companies to use pet coke for manufacturing purpose.
ArcelorMittal, SAIL Are Said To Sign India Steel Deal Soon

State-run Steel Authority of India Ltd. has finalized terms for a Rs 6,000 crore plant with ArcelorMittal to cater to the automobile sector, a deal that’s been in the works for more than two years, according to a person familiar with the development.


The agreement for the automotive grade steel plant is likely to be approved next week by SAIL’s board, the person said, asking not to be identified as the matter wasn’t public.

Dredging Corporation Surges On Signing Contract With NHAI For Supplying Sand

Shares of the Vishakhapatnam-based dredging service provider rose as much as 4.89 percent, the most since Dec. 8, to Rs 681.65. Dredging Corporation of India signed an agreement with National Highways Authority of India for facilitating the supply of sand for highways construction work, the company said in a press release.

Unitech Nosedives As SC Stays NCLT Order

Shares of the Gurugram-based troubled real estate developer fell sharply after the Supreme Court stayed NCLT order passed against Unitech. The stock fell as much as 9.8 percent, the most in over four months, to Rs 6.90.

NCLT had on Friday allowed the government to appoint 10 nominee directors on the board of the company and restrained current directors from acting as board members.

Unitech appealed in the top court against the NCLT order which was today stayed by the Supreme Court.

*News Source- Bloomberg

Technical summary for 14th December,2017

Indian Equity

After made a all time high of 10490.45 NIFTY trading in a range of 300 points only. Trend is looking downward as it made  lower lows and lower highs. According to fibonacci 10147.50 and 9959 are next support zones for NIFTY. RSI & MACD both are going downward direction. Overall trend is looking week.

NSENIFTY is long term Bullish as the 144 days moving average of 9,907.80 is increasing. The Relative Strength Index is at 46.94 in the neutral territory. The Relative Momentum Index is at 51.54 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -17.70, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 77.85. This value is in the overbought territory.

Weekly Pivot Point Resistance and Support

The first weekly resistance level is at 10,346.55 while the second resistance level at 10,427.45. The first weekly support level is at 10,109.05 while the second support level is at 9,952.45.

Additional information:-

Tomorrow’s projected High: 10,244.75, the projected Low:10,118.05. The top 21-day Bollinger band is at: 10,443.53 while the bottom 21-day Bollinger band is at: 10,031.83.

DISCLAIMER: – we are not a SEBI research analyst. Views posted here only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline to interpreting specified analysis methods.  This information should only be used by investors and traders who are aware of the risk inherent in securities trading.


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Sachin Sival is the founder and CEO of Replete Equities, an options trading company that specializes in delta hedging. A self-taught trader, Sachin has a passion for volatility trading and stock trading. Sachin loves to hone his skills by reading up on new strategies and techniques as well as taking part in industry events. In addition to being a successful entrepreneur, Sachin also takes pleasure in photography - as a hobby.

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