February 21, 2017

Possible Nifty Scenario over 2 – 3 days
Possible scenario 2: Nifty may
~ 8890 face resistance at 8890 level

Nifty may open at 8880 level
~ 8815

~ 8720
Possible scenario 1: If Nifty sustains and
trades above 8860 level then traders may
see positive move to continue … ~ 8600

~ 8540

Previous supports & Resistance on intraday chart
Supports @ 6870, 7035, 7240, 7360, 7425, 7485, 7550, 7610, 7640, 7700, 7755, 7860, 7980, 8100, 8260, 8340, 8440, 8550, 8600, 8650, 8780, 8820
Resistance @ 8900, 8950, 9000, 9150


any company mentioned in this mail and/or its attachments. Foreign currencies denominated securities. HDFC Securities 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. Compensation of our Research Analysts is not based on any specific merchant banking. The views. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report. the values of which are influenced by foreign currencies effectively assume currency risk. securities and financial instruments dealt in the report. based upon information obtained in good faith from sources believed to be reliable. changes in the currency rates. If this report is inadvertently send or has reached any individual in such country. The information and opinions contained herein have been compiled or arrived at. Such information has not been independently verified and no guaranty.com Email: hdfcsecretailresearch@hdfcsec. Research analyst has not served as an officer. downloading. HDFC 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. It should not be considered to be taken as an offer to sell or a solicitation to buy any security. or intended for display. HDFC 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. or other services for. Opp. associates. RETAIL RESEARCH . does not have any financial interest in the subject company. director or employee of the subject company. Further Research Analyst or his relative or HDFC Securities Ltd. and should not be construed as an offer or solicitation of an offer. (Siddharth Deshpande). HDFC Securities Ltd and other group companies. diminution in the NAVs. corporate finance. country or other jurisdiction where such distribution. any person or entity who is a citizen or resident or located in any locality. hereby certify that all of the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. All such information and opinions are subject to change without notice. INH000002475. Office Floor 8. to buy or sell any securities or other financial instruments. representation of warranty. brokerage services or other advisory service in a merger or specific transaction in the normal course of business. This document is for information purposes only. or the income derived from them. their directors and employees may.com) RETAIL RESEARCH Tel: (022) 3075 3400 Fax: (022) 2496 5066 Corporate Office HDFC securities Limited. entry prices and/or other parameters mentioned in this document may or may not match or may be contrary with those of the other Research teams (Institutional. investment banking or brokerage service transactions. and buy or sell the securities of the company(ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or lender/borrower to such company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions. or its Associate may have beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the Research Report. I Think Techno Campus. Research entity has not been engaged in market making activity for the subject company. express or implied. or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. target price.Analyst : Siddharth Deshpande (Siddharth. Any holding in stock . Accordingly. Kanjurmarg (East). are subject to exchange rate fluctuations. distributed or published for any purposes without prior written approval of HDFC Securities Ltd . of the losses or the damages sustained due to the investments made or any action taken on basis of this report. HDFC Securities Ltd. HDFC Securities Ltd may from time to time solicit from. Mumbai 400 042 Phone: (022) 3075 3400 Fax: (022) 2496 5066 Website: www. which could have an adverse effect on their value or price. authors and the names subscribed to this report.No Disclaimer: This report has been prepared by HDFC Securities Ltd and is meant for sole use by the recipient and not for circulation. its directors. "Alpha". opinions. etc." Disclosure: We /I. the same may be ignored and brought to the attention of the sender. reproducing or for distribution to or use by. publication. reproduction. availability or use would be contrary to law or regulation or what would subject HDFC Securities Ltd or its affiliates to any registration or licensing requirement within such jurisdiction. printing.com "HDFC Securities Ltd. (MBA Finance). or its associate does not have any material conflict of interest. wherever mentioned. Crompton Greaves. estimates. analysts or employees do not take any responsibility. reduction in the dividend or income. HDFC Securities may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Building . state. (a) from time to time. In addition. neither HDFC Securities nor Research Analysts have any material conflict of interest at the time of publication of this report. This report has been prepared by the Retail Research team of HDFC Securities Ltd. is made as to its accuracy. or perform broking. Research Analyst or his/her relative or HDFC Securities Ltd. fluctuation in the prices of shares and bonds. its directors. We also certify that no part of our compensation was. investors in securities such as ADRs. is. Also Research Analyst or his relative or HDFC Securities Ltd. employees may have various positions in any of the stocks. have a long or short position in. completeness or correctness.hdfcsec. is a SEBI Registered Research Analyst having registration no. HDFC Securities and its affiliated company(ies). investment banking or merchant banking. Descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is not. financial or otherwise.B. ratings.deshpande@hdfcsec. especially. This document may not be reproduced. including but not restricted to. This report is not directed to. or may make sell or purchase or other deals in these securities from time to time or may deal in other securities of the companies / organizations described in this report. Near Kanjurmarg Station. USA. PCG) of HDFC Securities Ltd.