Open recommendations Date Scrip I-Direct Code Action ...vid.investmentguruindia.com/report/2020/June/Momentum_Picks11June2020.pdfLupin Buy Bata India Buy Pidilite Ind Buy Duration:

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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 11, 2020For Instant stock ideas:

SUBSCRIBE to mobile notification on

ICICIdirect Mobile app…

Open Recommendations

Gladiator Stocks

Click here to know more…

Scrip Action

Lupin Buy

Bata India Buy

Pidilite Ind Buy

Duration: 6 Months

New recommendations

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

11-Jun-20 Nifty Nifty Sell 10098.00-10124.00 10058.00/ 10011.00 10163.00 Intraday

11-Jun-20 Lupin LUPIN Buy 930.00-934.00 941.80/950.20 923.40 Intraday

11-Jun-20 Motherson Sumi MOTSUM Sell 95.00-96.00 94.50/93.70 96.70 Intraday

10-Jun-20 Amrutanjan Healthcare AMRHEA Buy 385.00-394.00 430.00 364.00 14 Days

Open recommendations

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

9-Jun-20 Aurobindo Pharma AURPHA Buy 765.00-778.00 850.00 730.00 14 Days

8-Jun-20 HPCL HINPET Buy 210.00-218.00 244.00 198.00 14 Days

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

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Nifty Technical Picture

Positive: IT, Pharma, Agri Inputs,

Midcap

Neutral: Metals, Media

Open High Low Close

10072.60 10148.75 10036.85 10116.15

2

Indices Close 1 Day Chg 1 Day % Chg

SENSEX Index 34247.50 290.36 0.86

NIFTY Index 10116.15 69.50 0.69

Nifty Futures 10118.70 84.40 0.84

BSE500 Index 13161.34 89.88 0.69

Midcap Index 12659.34 101.84 0.81

Small cap Index 11955.04 108.99 0.92

SGX Nifty 10100.00 -18.70 -0.18

* SGX Nifty at 7:30 am

Domestic Indices

Sectors in focus (Intraday):

Intraday Short term

Trend

Support 10050-10000 9700

Resistance 10150-10230 10500

20 day EMA 9685

200 day EMA 10567

Mom

entum

Pic

ks

ICICI Securities Ltd. | Retail Equity Research

Technical Outlook

Source: Bloomberg, Spider, ICICI Direct Research

NSE Nifty Daily Candlestick Chart

NSE (Nifty): 10116

NSE Nifty Daily Candlestick Chart

Key support breakdown

Daily Stochastic pointing downward, indicating corrective bias

7511

8055

10328

8997

12430

Day that was…

Equity benchmarks took a breather after past two session’s profit of

booking. The Nifty ended Wednesday’s session at 10116, up 70 points

or 0.7%. The market breadth turned positive with A/D ratio of 1.6:1.

Sectorally, banks, IT outshone while auto and metal underperformed.

Technical Outlook

- The price action formed an inside bar as index traded in a narrow

range and confined within previous sessions trading range,

indicating pause after past two sessions profit booking. The fag

end buying demand in banking stocks helped index to end the

session near days high

- Key point to highlight during the week is that, index reacted twice

in past three sessions from 100 days SMA placed around 10300,

indicating intermediate resistance at 10300. In case index manages

to surpass 10300 mark, we believe another 100 to 150 points up

move cannot be ruled out. However, upside would be capped at

10500 as we do not expect further acceleration, since weekly

stochastic oscillator is hovering at overbought territory (placed at

86), indicating impending breather. Thus, we expect index to

continue with its choppy corrective move, going ahead

- We expect ongoing corrective decline to eventually drag its feet

towards key support threshold of 9700 as it is confluence of:

- 38.2% retracement of last up move (8997-10328), 9820

- last week’s low is at positive gap area 9706 – 9580)

- On expected lines, broader markets relatively outperformed the

benchmark as both Nifty midcap and small cap indices have seen

rejuvenated upward momentum on breakout of five week’s

consolidation. Meanwhile, we have seen significant improvement

in market breadth as ~80% components of CNX 500 index have

closed above 50 days EMA compared to last two week’s reading of

40%, indicating broad based participation

- In the coming session, volatility would remain high owing to

weekly derivative expiry sessions. The formation of lower high

signifies corrective bias. Hence, only a decisive move above

previous sessions high would open further pullback option open,

else extended correction. Thus, pullback towards 10098 – 10124

should be used to create short position for target of 10011

Structurally, over past three months index have already rallied 38%,

hauling weekly stochastic to approach overbought condition at 84. As

Nifty has already retraced more than 50% of entire CY-20 decline

(12430-7511), at 9970 along with overbought condition of weekly

stochastic oscillator, we believe upside would be limited from hereon,

and expect retracement of recent rally in coming weeks

100 Days

SMA

Action

Price Range

Target

Stoploss

Nify Future Intraday Recommendation

10163.00

Sell

10058.00/ 10011.00

10098.00-10124.00

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Bank Nifty: 21100

June 11, 2020 ICICI Securities Ltd. | Retail Equity Research 3

Nifty Bank daily change Technical Outlook Bank Nifty Index – Weekly Candlestick Chart


The Bank Nifty rebounded after Tuesday sharp decline and

closed higher by ~2% on Wednesday on back of strong global

cues. The up move was broad based as all the 12 index

constituents closed in the green. The Bank Nifty ended the

session at 21100, up by 375 points or 1.8%.

Technical Outlook

• The daily price action formed a bull candle which remained

enclosed inside previous session high-low range signalling

consolidation after the last two weeks strong rally of more

than 20%

• Going ahead, we believe the index has major hurdle around

22000 levels being the high of April 2020 (21967) and 38.2%

retracement of the entire Feb-Mar 2020 decline (31649-

16116), failure to move above which will keep the bias

corrective

• The index is expected to consolidate with corrective bias in

the broad range of 22000-19500 amid stock specific action in

the coming sessions. It would help the index to cool off the

overbought condition of daily stochastic oscillator (currently

placed at 55), formed after recent sharp rally

- The index has support in the range of 19000-19500 as it is

the confluence of the following technical observations:

- 50% retracement of recent rally 17105-21619)

placed at 19360 levels

- The positive gap area of June 1, 2020 is placed at

(19297-19633)

- The last week low is also placed at 19630 levels

• In the coming session, Bank Nifty is opening on a flat to

negative note on back of muted global cues. We expect the

index to witness profit booking at higher levels. Hence, use

up move towards 21170-21230 for creating short position for

target of 20960 with a stoploss of 21330

Among the oscillators the daily stochastic remain in down trend

indicating continuation of the corrective bias in the coming

sessions

16116

Major support

breakdown

21967

Open High Low Close

20760.95 21251.45 20671.55 21100.10

Indices Close Change Change%

Nifty Bank 21100.10 375.20 1.81

31649

17105

Daily Stochastic in downtrend signalling continuation of the

corrective bias

21807

Intraday Short term

Trend

Support 20860-20670 19000

Resistance 21250-21430 22000

20 day EMA 19917

200 day EMA 25372

Nifty Bank Technical Picture

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Stock Picks


Motherson Sumi Systems (MOTSUM) – Daily candlestick Chart

Lupin (LUPIN) – Daily candlestick Chart


Duration: Intraday

Technical Observations


Daily 14 periods RSI giving sell signal

Price breakout from the last six weeks consolidation range and base at 20 days

EMA signalling continuation of the up trend

Daily 14 periods RSI in up trend sustaining

above its nine periods average

Double top at the 200 days EMA signalling

corrective bias in the coming sessions

CMP 929.10

Action Buy

Initiation Range 927.00-931.00

Target 938.30/949.00

Stop Loss 919.40

Rationale

Price breakout from the last six

weeks consolidation range and

base at 20 days EMA signalling

continuation of the up trend

CMP 94.90

Action Sell

Initiation

Range

94.60-95.40

Target 93.80/92.60

Stop Loss 96.20

Rationale

Double top at the 200 days EMA

signalling corrective bias and 14

periods RSI giving sell signal

200 days EMA

20 days EMA

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5

Buy Amrutanjan Health Care (AMRHEA) in the range of 385.00-394.00

June 11, 2020 ICICI Securities Ltd. | Retail Equity Research

Source: Bloomberg, Spider Software, ICICI Direct Research


Stock Picks

Target: 430.00 Stop Loss: 364.00

Duration: 14 days

• The stock has registered a

resolute breakout from the

downward sloping channel

formation containing the last two

months price activity. In the

process it has also closed above

the 200 days EMA placed at | 380

levels signalling reversal of the

corrective consolidation and

offers fresh entry opportunity

• The breakout from the falling

channel is supported by strong

volume of more than 15 times the

50 days average volume of 2.5

lakhs share per day highlighting

larger participation in the direction

of trend

• It has already taken 37 sessions to

retrace 80% of the previous 05

sessions up move (| 301-440). A

slower retracement signals

inherent strength and a higher

base formation

• We believe, the stock has

immediate support at | 364 as it is

the confluence of the upper band

of the recent channel breakout

area and 61.8% retracement of

the last two days up move (| 340-

404)

• We expect the stock to accelerate

upward momentum and head

towards | 430 levels being the

61.8% retracement of the Fed-Mar

decline (| 555-253)

Recommendation initiated on i-click to gain at 15:26 on June 10, 2020

The daily stochastic has generated a buy signal

A resolute breakout from downward sloping channel

formation on the back of rising volumes, signals

strength and offers fresh entry opportunity

320

Daily Bar Chart

A slower retracement

highlights healthy

consolidation and a

higher base formation

Target @

430440

301

253

200 days EMA

555

275

A strong volume at the breakout area signals larger participation in the direction of trend

Support

@ 364

340

404

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6

Buy Aurobindo Pharma (AURPHA) in the range of 765.00-778.00




Stock Picks


Duration: 14 days

• The stock is in strong up trend

forming higher peak and higher

trough in all time frame. The

entire up move since March low

of | 289 is well channelled

signalling sustained demand at

elevated levels. It has recently

rebounded taking support at the

lower band of the channel thus

offering fresh entry opportunity

• Structurally, it has registered a

major breakout during mid April

as it resolved above the highs of

Sep’19 (| 639) and Feb’20 (| 617)

as can be seen in the adjacent

chart

• It has immediate support placed at

| 730 levels being the confluence

of the current week low (| 729)

and the 38.2% retracement of

recent up move (| 655 – 791)

placed around | 730 levels

• Among oscillators, the daily

MACD is seen consolidating near

its nine periods average thus

supports the overall positive bias

• We expect the stock to maintain

its up trend and head towards |

850 levels as it is the price parity

with the previous up move (| 655-

791) as projected from the current

week low of | 729 signals upside

towards | 850 levelsRecommendation initiated on i-click to gain at 11:02 on June 09, 2020

Strong volume at the breakout area

The stock in strong up trend trading in a rising channel signaling sustained demand at

elevated levels. It has recently rebounded taking support at the lower band of the

channel thus offering fresh entry opportunity

Daily Bar Chart

617

Target @ 850

support @

730

684

289

639Major breakout area

655

791

The daily MACD is seen consolidating near its nine periods average thus

supports the overall positive bias

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7

Buy Hindustan Petroleum Corp (HINPET) in the range of 210.00-218.00




Stock Picks


Duration: 14 days

• The share price logged a resolute

breakout from the downward

sloping trend line drawn adjoining

highs of Oct’19 (| 328) and Apr’20

(|229) and has also closed above

the 50 days EMA (| 196) indicating

conclusion of secondary

corrective phase and resumption

of primary up trend. Thereby

offering fresh entry opportunity to

ride next leg of up move

• Structurally, we believe the stock

has undergone a strong base

formation near | 160 as over past

seven months on two occasions

stock has bounced from key

support threshold of | 160. The

strong rebound from key support

area indicates elevated buying

demand

• On the downside, we believe

support is placed at | 198 being

23.6% retracement of ongoing up

move (| 170 – 205), which also

confluence with 50 days EMA is

placed at | 198

• Among oscillators, the daily 14

periods RSI is seen sustaining

above its nine periods average

indicating strength

• We expect the stock to accelerate

upward momentum and head

towards | 244 levels in coming

sessions as it is the 50%

retracement of last major decline

seen during October’2019 – March

2020 (| 320 – 164), at | 246

Recommendation initiated on i-click to gain at 10:02 on June 08, 2020

The daily 14 periods RSI sustaining above its nine periods average thus validates positive bias

Falling trendline breakout confirms conclusion of corrective phase, auguring well for next leg of up moveDaily Bar Chart

50 Days

EMA

170

Target @

244

support

@ 198

228

164

328

150

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Market Activity Report


Global Equity Market PerformanceGlobal Currency, Commodities and Bond

Advance Decline

Source: Bloomberg, Investing, ICICI Direct Research

0

500

1000

1500

2000

2-Jun 3-Jun 4-Jun 5-Jun 8-Jun 9-Jun 10-Jun

Advances Declines

Close1 Day %

Change

Currency

USD INR 75.61 0.0

Dollar Index 95.99 -0.1

EURO USD 1.13 0.2

GBP USD 1.27 0.0

JPY 106.96 -0.1

Swiss Franc 0.94 -0.1

Commodities ($)

Gold 1,740.00 1.1

Brent 40.81 -1.0

Copper 5,907.00 2.3

Silver 18.13 1.9

Yield (bps change)

India 105.77 0.00

US 0.72 -3.56

EURO -0.33 -2.42

Japan 0.01 -0.01

-0.8

-0.1

-0.7

-0.1

-1.1

-0.7

0.9

-1.0

-2.1

-2.5 -1.5 -0.5 0.5 1.5

France

UK

Germany

China

Japan

Hong Kong

India

US

Brazil

% Change

1 Day Change

1 Day Change

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Market Activity Report


Sectoral Indices Performance Fund Flow activity of the last 5 sessions

Source: Bloomberg, ICICI Direct Research

India - Sectoral Close1 Day %

Change

Sensex 34,247.1 0.9

Nifty 10,116.2 0.7

BSE Auto 14,723.9 -1.0

Bankex 24,102.8 1.8

Capital Goods 12,856.5 -0.2

Consumer

Durables20,613.0 0.0

FMCG 11,036.1 0.2

Healthcare 16,332.5 0.8

IT 14,832.0 0.6

Metal 7,273.8 -0.4

Oil & Gas 12,586.5 -0.4

Power 1,565.3 0.2

Realty 1,598.2 1.8

BSE 500 13,161.3 0.7

BSE Midcap

Index12,659.3 0.8

BSE Small Cap 11,955.0 0.9

-847

47

-1,238

-733

501

-1,500

-1,100

-700

-300

100

500

4-Jun 5-Jun 8-Jun 9-Jun 10-Jun

Rs C

rore

Date

DII

2,905

98

813

491

-919-1,300

-300

700

1,700

2,700

4-Jun 5-Jun 8-Jun 9-Jun 10-Jun

Rs C

rore

Date

FII

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Trend Scanner

June 11, 2020 ICICI Securities Ltd. | Retail Equity Research 10Source: Bloomberg, ICICI Direct Research

52 Weeks Low

Negative Trend Universe: NSE 500

Candlestick Pattern

Positive Trend Universe: NSE 500 52 Weeks High

Oversold Stocks

Overbought Stocks

Lupin 928.35 0.97 880.00 21

TCS 2108.75 1.77 2003.00 32

HDFC 1809.30 2.10 1669.00 36

Jubilant Foodworks 1706.50 2.38 1652.00 27

Scrip Name Close

Change

%

20-Day

SMA

Delivery

( %)

Scrip Name LTP

NA

Bullish Candlestick Formations Bearish Candlestick Formations

Scrip Name Pattern name LTP Scrip Name Pattern name LTP

Lupin Continuation 929.6 Gujarat Gas Dark Cloud Cover 291.0

Navin Fluorine Engulfing 1595.0 KRBL Evening Star 232.2

Crompton Engulfing 237.0 PVR Continuation 1006.0

NBCC Engulfing 24.6 Shopper Stop Continuation 190.4

Scrip Name LTP Stochastic

Zydus Wellness 1262 12.6

Procter & Gamble Health 4189 12.6

Dabur India 462.2 27.7

Scrip Name LTP

Dr Reddy's 4120

GMM Pfaudler 4475

Shilpa Medicare 565

Inox Leisure 237.00 -6.84 220.00 38

Scrip Name Close

Change

%

20-day

SMA

Delivery

(%)

Scrip Name LTP Stochastic

Cochin Shipyard 271 83.2

Bajaj Finance 2460.15 75.1

Heat Map

Indusind

Bank

500

Hindalco

147 Shree

Cement

21,513 Reliance

Ind.

1,572 Kotak

Bank

1,332

7.7% 3.1% 2.4% 2.3% 2.2%

HDFC Ltd

1,809

TCS

2,109

SBI

188

Axis Bank

427

Vedanta

106

2.1% 1.8% 1.8% 1.8% 1.4%

ICICI

Bank

353

HCl Tech

579

TechM

591

HUL

2,120 JSW

Steel

191

1.3% 1.0% 0.7% 0.6% 0.5%

Grasim

Ind

615 HDFC

Bank

992

Cipla

643

Eicher

17,090

ITC

199

0.5% 0.5% 0.5% 0.4% 0.3%

Maruti

5,676

NTPC

98 Adani

Ports

347

Ultratech

3,792 Tata

Motors

111

0.2% 0.2% 0.1% 0.0% 0.0%

Nestle

16,535 Bharti

Airtel

567 Bharti

Infratel

233

Infosys

716

Dr Reddy

4,113

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

Power

Grid

170 Sun

Pharma

499 Bajaj

Finance

2,436 Asian

Paints

1,636

Wipro

217

-0.3% -0.3% -0.3% -0.4% -0.6%

BPCL

379

L&T

947

IOC

90

Britannia

3,377

UPL

425

-0.7% -0.7% -0.8% -1.1% -1.3%

Zee Ent.

190

M&M

472 Bajaj

Finserv

5,223

ONGC

88

Titan

977

-1.4% -1.4% -1.7% -1.9% -2.0%

Tata Steel

324

Coal India

141 Bajaj

Auto

2,717

GAIL

98 Hero

Moto

2,292

-2.5% -2.5% -2.6% -3.0% -4.0%

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Intraday Supports and Resistance (Cash)


Scrip Name Trend Close S1 S2 S3 R1 R2 R3

NIFTY 50 Neutral 10116.15 10053 9989 9941 10165 10213 10277

S&P BSE SENSEX INDEX Neutral 34247.05 34014 33781 33613 34415 34583 34815

NIFTY BANK Neutral 21100.1 20765 20428 20185 21344 21588 21924

NIFTY 50 FUTURES Neutral 10142.4 10068 9995 9952 10185 10227 10301

NIFTY BANK FUTURES Neutral 21285 20850 20415 20190 21510 21735 22170

ACC LTD Neutral 1275.3 1257 1238 1224 1290 1304 1323

AMBUJA CEMENTS Neutral 192 188 185 181 194 197 200

ADANI POWER LTD Neutral 38.8 39 38 38 40 40 41

ADANI ENTERPRISE Negative 151.85 149 148 145 154 157 158

ADANI PORTS AND Negative 346.55 342 337 333 352 355 361

ASHOK LEYLAND Neutral 52.7 51 50 48 53 54 56

AMARA RAJA BATT Neutral 662.5 654 647 641 668 674 681

APOLLO HOSPITALS Negative 1355.65 1332 1309 1285 1378 1401 1424

ASIAN PAINTS LTD Negative 1635.95 1617 1599 1570 1664 1693 1711

APOLLO TYRES LTD Negative 105.65 104 102 101 106 108 109

AUROBINDO PHARMA Positive 796.95 780 763 753 808 817 835

AXIS BANK LTD Negative 427.45 417 408 400 435 442 452

BAJAJ FINANCE LT Negative 2435.65 2402 2367 2333 2471 2505 2540

BATA INDIA LTD Negative 1391.2 1379 1367 1353 1405 1419 1431

BHARTI AIRTEL Negative 567.1 562 556 549 575 582 588

BHARAT ELECTRON Negative 73.45 71 70 69 74 76 77

BHARAT HEAVY ELE Positive 31.3 30 29 28 31 33 33

BHARAT FORGE CO Negative 353.95 348 341 332 364 373 380

BALKRISHNA INDS Neutral 1148.35 1127 1106 1090 1164 1180 1201

BIOCON LTD Positive 389.95 385 378 374 396 400 407

BAJAJ AUTO LTD Negative 2717.2 2680 2641 2579 2781 2843 2881

BAJAJ FINSERV LT Negative 5223 5140 5058 4956 5324 5426 5508

BANK OF BARODA Neutral 47 47 45 45 48 49 50

BANK OF INDIA Neutral 42.2 41 40 39 43 44 46

BOSCH LTD Negative 10806.1 10631 10454 10175 11087 11366 11542

BHARAT PETROL Negative 378.95 374 368 362 385 390 396

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BERGER PAINTS Neutral 494.65 490 485 481 499 503 508

BRITANNIA INDS Negative 3377 3340 3304 3250 3431 3484 3521

CANARA BANK Positive 104.85 100 97 94 106 109 112

CONTAINER CORP Negative 410.05 405 399 391 420 429 435

CADILA HEALTHCAR Positive 369.2 361 353 348 373 379 386

CENTURY TEXTILE Neutral 314.6 311 308 304 318 322 326

CESC LTD Neutral 626.7 618 610 599 637 648 656

CHOLAMANDALAM IN Positive 155.7 152 147 144 160 163 168

CIPLA LTD Neutral 642.95 639 634 628 650 656 661

COLGATE PALMOLIV Negative 1356.25 1343 1329 1307 1379 1401 1415

COAL INDIA LTD Negative 140.7 139 137 135 144 147 148

DABUR INDIA LTD Neutral 461.9 456 450 441 471 480 486

DIVI LABS LTD Negative 2394.65 2366 2337 2298 2434 2473 2502

DLF LTD Positive 156.8 153 151 148 159 161 164

DR REDDY'S LABS Positive 4112.5 4070 4028 3968 4172 4232 4275

EICHER MOTORS Neutral 17090.05 16922 16754 16580 17265 17439 17607

EQUITAS HOLDINGS Negative 50.5 49 46 45 52 54 56

ESCORTS LTD Negative 941.8 933 923 913 953 963 973

EXIDE INDUS LTD Neutral 158.3 158 156 155 161 162 164

FED BANK LTD Positive 49.8 48 47 46 50 51 51

GAIL INDIA LTD Negative 98.1 97 94 92 102 104 107

GODREJ CONSUMER Negative 632.65 617 602 578 656 680 694

GMR INFRASTRUCTU Neutral 21.25 20 20 19 21 22 22

GLENMARK PHARMA Neutral 401.45 399 395 391 407 411 415

GRASIM INDS LTD Neutral 614.75 608 601 592 624 633 640

HAVELLS INDIA Positive 558.15 546 532 525 567 574 588

HCL TECH LTD Positive 578.7 573 566 559 586 594 600

HOUSING DEV FIN Neutral 1809.3 1788 1766 1750 1826 1842 1864

HDFC BANK LTD Negative 991.85 980 968 959 1002 1012 1023

HERO MOTOCORP LT Negative 2292.25 2253 2212 2142 2364 2434 2475

HINDALCO INDS Neutral 146.95 144 140 138 150 152 156

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HINDUSTAN PETRO Negative 207.85 204 201 196 212 217 220

HINDUSTAN UNILEV Neutral 2119.6 2100 2081 2066 2134 2149 2168

VODAFONE IDEA LT Neutral 10.85 9 8 7 11 12 13

IDFC FIRST BANK Neutral 25.75 26 25 25 27 27 29

INDRAPRASTHA GAS Neutral 466 460 455 449 471 477 482

INDIABULLS HOUSI Positive 161.8 149 137 129 170 177 190

INDUSIND BANK Positive 499.6 472 444 425 519 538 566

INTERGLOBE AVIAT Negative 1035.6 1008 982 951 1065 1096 1122

INFOSYS LTD Negative 715.85 711 705 700 721 725 731

INDIAN OIL CORP Negative 89.95 88 87 85 91 93 94

ICICI PRUDENTIAL Neutral 396.95 393 388 382 403 408 413

ITC LTD Neutral 199.05 197 195 192 202 205 207

JINDAL STEEL & P Negative 142.25 141 138 136 146 148 150

JSW STEEL LTD Negative 190.95 186 182 179 193 196 201

JSW ENERGY LTD Positive 47.25 47 46 45 49 50 52

JUBILANT FOODWOR Positive 1706.5 1681 1656 1639 1723 1740 1765

JUST DIAL LTD Negative 397.4 390 383 371 409 421 428

CUMMINS INDIA Negative 390.9 387 381 378 396 399 405

KOTAK MAHINDRA Neutral 1332.25 1310 1286 1269 1350 1368 1391

LIC HOUSING FIN Neutral 266.2 258 250 245 272 277 285

LUPIN LTD Positive 928.35 919 909 900 938 947 957

LARSEN & TOUBRO Negative 946.55 935 923 911 958 971 982

L&T FINANCE HOLD Neutral 63.15 63 61 60 65 65 67

MAHANAGAR GAS LT Negative 993.3 980 968 953 1007 1022 1034

MAX FINANCIAL SE Neutral 483.2 471 459 452 490 497 509

MANAPPURAM FINAN Neutral 142.85 140 138 136 144 146 148

MAHINDRA & MAHIN Positive 472.05 466 460 451 481 490 496

M&M FIN SERVICES Negative 154.45 151 148 143 160 165 168

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MARICO LTD Negative 335.8 331 327 324 338 341 345

MRF LTD Negative 63796.35 63234 62671 62091 64377 64957 65520

MARUTI SUZUKI IN Negative 5675.6 5614 5552 5489 5739 5802 5864

MOTHERSON SUMI Negative 94.65 92 91 88 96 99 101

MINDTREE LTD Negative 909.1 874 837 816 931 953 989

MUTHOOT FINANCE Positive 971.1 940 909 884 996 1021 1052

NATIONAL ALUMIN Negative 32.4 31 31 30 32 33 33

NBCC INDIA LTD Neutral 24.5 22 20 18 27 28 31

NESTLE INDIA LTD Negative 16534.7 16352 16170 15930 16774 17014 17196

NIIT TECH LTD Neutral 1404.55 1385 1364 1339 1431 1456 1476

NCC LTD Negative 30.85 29 28 27 31 32 33

NMDC LTD Negative 89.9 88 86 84 91 94 95

NTPC LTD Positive 98.15 98 96 95 101 102 104

OIL INDIA LTD Neutral 94 93 91 89 97 99 101

OIL & NATURAL GA Negative 88.25 87 85 83 90 93 94

PAGE INDUSTRIES Negative 19367.65 19136 18903 18697 19575 19781 20014

PIDILITE INDS Negative 1454.75 1442 1429 1408 1476 1497 1510

PIRAMAL ENTERPRI Negative 1044.3 1018 991 967 1069 1093 1120

PETRONET LNG LTD Negative 253.05 251 249 245 258 261 264

PUNJAB NATL BANK Positive 33.85 32 31 29 34 35 37

POWER FINANCE Negative 85.4 82 80 78 86 88 91

PVR LTD Negative 1004.5 969 935 882 1056 1109 1143

POWER GRID CORP Negative 170.05 169 167 166 171 173 174

RBL BANK LTD Positive 164.2 147 131 120 175 185 202

REC LTD Neutral 100.9 99 96 95 102 104 106

RELIANCE INDS Neutral 1572.15 1548 1525 1509 1588 1604 1627

STEEL AUTHORITY Negative 31.6 32 31 31 33 33 34

STATE BANK IND Neutral 187.7 185 182 180 190 192 195

SHRIRAM TRANSPRT Negative 635 618 600 589 648 660 678

SIEMENS LTD Negative 1102.05 1087 1072 1051 1123 1144 1160

SHREE CEMENT Positive 21513.3 21239 20964 20778 21700 21886 22161

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SRF LTD Neutral 3641.55 3610 3578 3525 3695 3748 3780

SUN PHARMA INDU Neutral 499.15 493 487 480 506 513 520

SUN TV NETWORK Negative 386 380 375 369 392 399 404

TATA STEEL LTD Negative 324 321 317 311 330 336 340

TATA CONSULTANCY Positive 2108.75 2078 2047 2020 2137 2164 2195

TECH MAHINDRA LT Negative 590.5 583 576 569 598 604 612

TATA CONSUMER PRODUCT Positive 384.65 378 372 364 392 400 406

TORRENT POWER LT Neutral 331.05 326 321 317 334 337 342

TATA POWER CO Neutral 42.8 42 42 41 44 44 45

RAMCO CEMENT/THE Neutral 616.4 610 604 596 624 632 637

TORRENT PHARMA Positive 2458.9 2409 2358 2326 2492 2524 2575

TITAN CO LTD Negative 977.25 963 948 925 1001 1024 1039

TATA CHEMICALS Negative 311.5 308 303 298 318 323 327

TATA MOTORS LTD Negative 111.4 109 107 105 114 116 118

TVS MOTOR CO LTD Neutral 343.85 337 330 317 356 368 375

UNITED BREWERIES Negative 1009.65 997 982 967 1026 1042 1056

UJJIVAN FINANCIA Positive 211.55 199 187 179 218 227 238

UNITED SPIRITS Neutral 608.4 598 588 580 616 624 634

UPL LTD Negative 425 418 412 404 433 442 448

ULTRATECH CEMENT Positive 3792.45 3759 3727 3674 3844 3897 3929

VEDANTA LTD Positive 106.1 103 102 99 108 110 112

VOLTAS LTD Neutral 553.45 547 539 533 561 567 575

WIPRO LTD Negative 217 215 213 210 220 223 226

YES BANK LTD Neutral 30.4 29 29 29 30 31 31

ZEE ENTERTAINMEN Negative 189.8 187 185 181 194 198 200

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Forthcoming Economic Event Calendar


Date Event Date Event

US China

10-Jun FOMC Meeting 15-Jun Retail Sales YTD YoY

15-Jun Industrial Production MoM 18-Jun New Home Prices MoM

28-Jun GDP Annualized QoQ 22-Jun FX Net Settlement - Clients CNY

29-Jun PCE Deflator MoM 27-Jun Industrial Profits YoY

29-Jun Wholesale Inventories MoM 30-Jun Manufacturing PMI

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

India UK

12-Jun CPI YoY 8-Jun Bank of England Bank Rate

12-Jun Industrial Production YoY 15-Jun GDP QoQ

15-Jun Wholesale Prices YoY 22-Jun Retail Price Index

29-Jun Fiscal Deficit INR Crore 29-Jun Nationwide House PX MoM

30-Jun GDP Annual Estimate YoY 30-Jun GfK Consumer Confidence

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Momentum Picks: Strategy Follow up


Duration: Intraday

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

10-Jun-20 Nifty Nifty Sell 10130.00-10155.00 10091.00/ 10036.00 10196.00 90 points target 2 almost achieved

10-Jun-20 Dr Reddy's Laboratories DRREDD Buy 4114.00-4120.00 4149.80/4184.00 4083.40 - No trade

10-Jun-20 Bajaj Finance BAJFI Sell 2457.00-2463.00 2436.20/2412.00 2483.80 - No trade

Duration: Cash Positional

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

2-Jun-20 Tata Elxsi TATELX Buy 810.00 910.00 748.00 7.00 Book 50% profit at 868.00

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Gladiator Stocks: Open Recommendations


Back to Top

Date Scrip Name Strategy Recommendations Price Target Stoploss Time Frame

10-Jun-20 Lupin Buy 905.00-927.00 1080.00 835.00 6 Months

2-Jun-20 Bata India Buy 1390.00-1425.00 1625.00 1270.00 6 Months

1-Jun-20 Pidilite Ind Buy 1450-1490 1670.00 1320.00 6 Months

1-Jun-20 Procter Gamble & Health Buy 4170-4230 5090.00 3570.00 6 Months

24-Apr-20 Ipca Laboratories Buy 1580.00-1630.00 1885.00 1440.00 6 Months

All the recomedations are in Cash segment

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Price history of last three years

Source: Spider Software, ICICI Direct Research

Aurobindo Pharma Amrutanjan Health Care

HPCL

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Product Guidelines......


• In case of intraday stock recommendations, execute the trade within +/- 0.25% of the recommended range provided in

the 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 positional

recommendation 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 remaining

position 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 near

1st

Target (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 positional

recommendations 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 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 ‘Momentum Pick’ product carries 2 to 4 intraday recommendations. It is advisable to allocate equal

amount to each recommendation

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June 11, 2020 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, hereby 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 compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. Analysts are not registered as research analysts by FINRA and are not associated

persons of the ICICI Securities Inc. It is also 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 Limited is a SEBI registered Research Analyst with 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

ICICI Securities is one of the leading merchant bankers/ underwriters of securities and participate in virtually all securities trading markets in India. We and our associates might have investment banking and other business relationship with a significant percentage of

companies covered by our Investment Research Department. ICICI Securities generally prohibits its analysts, persons reporting to analysts and their relatives from maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.

Recommendation in reports based on technical and derivative analysis centre on studying charts of a stock's price movement, outstanding positions, trading volume etc as 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 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.


Disclaimer

Documents

Open recommendations Date Scrip I-Direct Code Action ...vid.investmentguruindia.com/report/2020/June/Momentum_Picks11June2020.pdfLupin Buy Bata India Buy Pidilite Ind Buy Duration: