ICAI PRESENTATION

ICAI

PRESENTATION

BY ASHISH CHATURMOHTA,

Director, Sanctum Wealth

Management

Twitter Handle - @AshishChatur

DisclaimerThe following presentation is for educational purpose only, to understand the concept of technical analysis and other studies. We don’tintend anyone to trade or invest based on this educational presentation, nor we are liable for any losses of any decision taken based onthis presentation.

2

Sanctum Wealth Management Private Limited, SEBI (Research Analysts) Regulations 2014, Registration No. INH000003051Sanctum Wealth Management Private Limited (“Sanctum Wealth”) is registered with SEBI as a Stockbroker (corporate member on the Bombay Stock Exchange and National Stock Exchange),Research Analyst, Portfolio Manager, Depository Participant (with NSDL) and is an AMFI registered Mututal Fund Distributor. We hereby declare that our activities were neither suspended norhave we defaulted with any stock exchange authority with whom we are registered in the last five years. We have not been debarred from doing business by any Stock Exchange/SEBI or anyother authorities, nor has our certificate of registration been cancelled by SEBI at any point of time.Sanctum Wealth’s subsidiaries include, (1) Sanctum Wealth Advisors Private Limited which is engaged in the business of providing real estate advisory services and is registered with the RealEstate Regulatory Authority (2) Sanctum Foundation which is a section 8 Company.

Each We, Ashish Chaturmohta, Anway Bhujbal certify that the views expressed in this document are an accurate representation of our personal opinions on the stock or sector as covered andreported on by us herein. We furthermore certify that no part of the analyst's compensation was, is or will be related, directly or indirectly, to the specific recommendations or views asexpressed in this document. recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities ofcompanies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. This document isbeing supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part,for any purpose. 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 otherjurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Sanctum Wealth and/or its affiliates to any registration orlicensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to a certain category of investors. Persons in whosepossession this document may come are required to inform themselves of and to observe such applicable restrictions. This material should not be construed as an offer to sell or thesolicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.

Sanctum Wealth makes no representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information and opinions contained in this document. SanctumWealth its affiliates, and the employees of Sanctum Wealth and its affiliates may, from time to time, effect or have effected an own account transaction in, or deal as principal or agent in orfor the securities mentioned in this document. They may perform or seek to perform services for, or solicit business from, any company referred to in this report.

This report has been prepared on the basis of information, which is already available in publicly accessible media or developed through an independent analysis by Sanctum Wealth. While wewould endeavour to update the information herein on a reasonable basis, Sanctum Wealth and its affiliates are under no obligation to update the information. Also, there may be regulatory,compliance or other reasons that prevent Sanctum Wealth and its affiliates from doing so. Neither Sanctum Wealth nor its affiliates or their respective directors, employees, agents orrepresentatives shall be responsible or liable in any manner, directly or indirectly, for views or opinions expressed in this report or the contents or any errors or discrepancies herein or for anydecisions or actions taken in reliance on the report or the inability to use or access our service in this report or for any loss or damages whether direct or indirect, incidental, special orconsequential including without limitation loss of revenue or profits that may arise from or in connection with the use of or reliance on this report.

Sanctum Wealth and/or its affiliates and/or employees may have interests/positions, financial or otherwise in the securities mentioned in this report. To enhance transparency, SanctumWealth has incorporated a disclosure of interest statement in this document. This should however not be treated as endorsement of views expressed in this report.

Products and services, other than Broking products and services e.g. Research Reports are not exchange traded products. Disputes relating to the research activities of Sanctum Wealth do nothave access to exchange investor redressal or Arbitration mechanism. For any grievances, please write to [email protected].

Other Registrations:SEBI (Portfolio Mangers) Regulations 2020, Registration No. INP000005067SEBI (Depositories and Participants) Regulations, 1996, Registration No. IN-DP-248-2016SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, Registration No. INZ000011338Association of Mutual Fund in India (AMFI) ARN: 105768

mailto:[email protected]

Technical

Analysis

4

Top Down Analysis➢ Monthly➢ Weekly➢ Daily

Identify Market Structure➢ Patterns➢ Support & Resistance➢ Long term Trendline➢ Volume and Delivery activity

How to Identify Long Term Trends

5

➢ Bullish Patterns: Rounding bottom, Multi year breakout, Double Bottom, Inverted Head & Shoulders Pattern, Pole and Flag, etc

➢ Fibonacci retracement ratios

➢ Pickup in volumes and delivery %

➢ Institutional & HNI activity - Increase in Bulk & Block deal

➢ Comparative strength vs Peers vs Sectors vs Benchmark

➢ Liquidity, Index inclusion, Portfolio Concentration

➢ Buy Value stocks only once momentum sets in otherwise stuck in consolidation

➢ Stop loss either on time or particular % correction whichever is earlier depending on market cap

➢ Small Cap - Art of Exit

Top Down AnalysisMonthly

M05 N M06 N M07 N M08 N M09 N M10 N M11 N M12 N M13 N M14 N M15 N M16 N M17 N M18

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

-100

-200

-300

-400

8 C

6 C

4 C

2 C

4-BAJAJ FINANCE LIMITED - 12/12/19 F7

Monthly

QtyLine

Long term uptrendHigh top High Bottom formation

Rising Trendline support

Previous high acts as support

NBFC Crisis

Price 2400

Top Down AnalysisWeekly

N F12 M J O J13 A J S D M14 M A N F15 A J O J16 A J S D M17 M A N F18 A J O

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

-100

-200

-300

3 C

250 L

2 C

150 L

1 C

50 L


Weekly

Avg(CloseLine:S:50)

QtyLine

50 week moving average support

Price 2400

Top Down AnalysisDaily

28 D 18 28 J18 17 29 F 19 28 M 21 A 12 23 M 14 23 J 12 21 J 11 20 31 A 21 31 S 24 O 15 25

3200

3150

3100

3050

3 T

2950

2900

2850

2800

2750

2700

2650

2600

2550

2500

2450

2400

2350

2300

2250

2200

2150

2100

2050

2 T

1950

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

1 C

80 L

60 L

40 L

20 L


Daily

QtyLine

Double Bottom

High volumes Accumulation

Price 2400

Top Down AnalysisMonthly - Current

High 6430

2400

High 4868

Patterns

Rounding Bottom

11

M J J A S O N D J16 F M A 29 M J J A S O N D J17 F M 31 A M J J A S O N D J18 F M 28 A M J J A S

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

4 C

350 L

3 C

250 L

2 C

150 L

1 C

50 L

426.45

1-Dabur India Ltd. - 31/07/19 F7

Weekly

QtyLine

Breakout

Breakout Volume

320

260

Height =320-260=60

Target = 320 + 60 = 380

Retest of breakout level

Cup and Handle

12Source: Falcon7

N D J10 M A M J J A O N D J11 F M A J J A S O N D F12 M A M J J A O N D J13 F M M J J A S O N J14 F M A

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

5 C

4 C

3 C

2 C

1 C

1-TECH MAHINDRA LIMITED - 29/07/19 F7

Weekly

QtyLine

CUP

HANDLE

Neckline

Low 120

Breakout @290

Height=290-120=170

Target = 290+170 =460

Breakout onHigh volumes

Double Bottom

13

S O N D J15 F M A M J J 31 A S O N D J16 F M A M J J 29 A S O N

660

650

640

630

620

610

600

590

580

570

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

16 C

14 C

12 C

10 C

8 C

6 C

4 C

2 C

1-Tata Motors Limited - 29/07/19 F7

Weekly

QtyLine

Neckline

Botto m#1

430

280

Botto m#2

Momentum Breakout

High volume on Breakout

Height =430-280 =150

Target = 430+150 = 580

A M J J A S O D J16 F M A M J A S O N D J17 M A M J J A S N D

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

120 L

1 C

80 L

60 L

40 L

20 L

1-BATA INDIA LTD. - 26/07/19 F7

Weekly

QtyLine, Avg(QtyLine:S:10)

Bullish/Inverted Head and Shoulders

Source: Seediff

14

Neckline

Right Shoulder

Head

Left Shoulder

BreakoutHeight =605-400 =205

Target = 585+205 =790

Volumes on breakout

Ascending Triangle

15

A S 26 O N 28 D J15 30 F M A 24 M J 26 J A 28 S O 30 N D J16 22 F M 23 A M 27 J J 29 A S 30 O

1260

1240

1220

1200

1180

1160

1140

1120

1100

1080

1060

1040

1020

1 T

980

960

940

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

140 L

120 L

1 C

80 L

60 L

40 L

20 L

1-ASIAN PAINTS LIMITED - 29/07/19 F7

Weekly

QtyLine

Resistance line 920

700

Height =220

Target = 920 + 220 = 1140

Momentum Breakout

Volume Breakout

Rectangle

16N J14 M M J A O D F15 A M J S N J16 M A J A O D F17 M M J S N J18 M A J A

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

35 L

30 L

25 L

20 L

15 L

10 L

5 L

1-Info Edge (India) Limited - 02/08/19 F7

Weekly

QtyLine

Consolidation

1000

700

Height =300

Target = 1000 + 3000 = 1300

Momentum Breakout

Volume Breakout

Up move

Resumption of uptrend after consolidation

Bullish Falling Wedge

17

M J J A S O N D J07 F M 30 A M J J A S O N D J08 F 29 M A M J J A S O N D J09 30 F M A M J J A S O

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

7 C

6 C

5 C

4 C

3 C

2 C

1 C

1-HDFC Bank Ltd. - 31/07/19 F7

Weekly

QtyLine

Breakout

Target = High of wedge

Higher Volume

Pole & Flag Pattern

J19 03 07 09 11 15 17 21 23 25 29 31 F 06 08 12 14 18 20 22 26 28 M 07 11 13 15 19 22 26 28 A 03 05 09 11 15

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

350 T

3 L

250 T

2 L

150 T

1 L

50 T

1-Kalpataru Pow Trans Ltd - 01/07/19 F7

Daily

QtyLine

POLE

80 points

490 Target

FLAG

80 points410

330

Up move

Consolidation

Up move

Rising Channel

24 S 21 O 19 N 16 30 D 28 J19 25 F 22 M 22 A 18 M 17 31 J 28

1440

1420

1400

1380

1360

1340

1320

1300

1280

1260

1240

1220

1200

1180

1160

1140

1120

1100

1080

1060

1040

1020

1 T

980

960

940

920

900

880

860

840

820

800

780

760

740

720

700

680

660

250 L

2 C

150 L

1 C

50 L

1290.35

1-TITAN COMPANY LIMITED - 04/07/19 F7

Weekly

QtyLine, DelQtyLine

Support

Resistance

Support

Resistance

Resistance

Resistance

Be opportunistic

20

• Universal Cables – M – Line chart

• Vol – smart

• Avenue – Future Retail - Vmart

21

Two year consolidation

Volume

Higher the consolidation, the better..

38%

22

530%

• Page Industries

• Britannia

• KEC

23

160Breakout

Multi year high breakout

• Page Industries

• Britannia

• KEC

24

110%

Breakout

25

➢ Good Business – Pricing power & Competition, Sectoral Tailwind, Entry Barrier, Brand, Reputation Government Dependency, Industry Size, Innovation, Strategic Assets

➢ Good Management – High Corporate Governance, Strong Parentage, Promoter Holding, Focus of Management (Z,E), Pledge

➢ Political Connection

➢ Capital Intensity and Capital Efficiency of Industry

➢ Debt Levels – Avoid highly leveraged B/S, Low interest coverage ratio

➢ Increasing working capital cycle is concern, Cash conversion cycle

➢ Operating profit to convert into Cash Flow from Operations (50%)

➢ Consistency in Revenue and PAT growth

➢ Good reasonable ROC and ROCE

➢ ROCE (10 year G-Sec Yield + Long term Equity Premium) > 15%

➢ Ten year cycle – Upcycle Downcycle

➢ Revenue Growth, EBITDA and PAT growth

➢ Sector tailwind

➢ Revenue growth 10% for a decade, nominal GDP growth 14.5%.

➢ ROCE – EBIT/Capital Employed (ROCE > WACC)

➢ CAGR in Auditor renumeration vs CAGR in consolidated Revenue

Fundamentals

Recent

Case Studies

Financialization of Savings

➢ Indians have a habit of saving, but the bulk of household savings has been traditionally allotted to physicalassets like real estate and gold. An average Indian household holds 84% of its wealth in real estate and otherphysical goods, 11% in gold and the residual 5% in financial assets.

➢ Post demonetization in 2016, parallel economy (commonly known as black money) circulation came tostandstill, thereby hampering assets like Gold and Real-estate. This further got traction with GST in 2017 andsince then various asset classes have attracted investors. Post, 2017, savings started being converted into otherfinancial assets in a big way.

➢ The intensity of the trend in favor of financial assets can be gauged by the fact that the Assets UnderManagement (AUM) of the Indian mutual fund industry touched 32 trillion rupees in April, growing over four-fold in the last 10 years.

➢ Further, it is estimated that, in India, 1.25 crore people will turn 25 every year in India for the next 7 years,which will lead to further traction.

➢ Owing to the same, the following Industries are being benefited –➢ Broking Industry➢ Exchanges➢ Registrar & Transfer Agents

Brokerage Industry

➢ Rising Retail Participation

➢ Increasing Share of Internet and Mobile Trading

➢ Increasing Depository Accounts

➢ Institutional Investment into Equities

➢ Full Service Brokerages Continue to Maintain Market leadership

➢ Largest Equity Broker in India Powered by Proprietary Technology Platform

➢ Natural Beneficiary of Fundamental Transformation in the Indian Savings Environment

➢ Strong and growing distribution business :- third-party mutual funds, insurance products, fixed deposits, loansand pension products to its retail customers for commission income

➢ Superior Customer Experience through Product and Technology Innovation

➢ ICICI Group ecosystem, it has mutually beneficial agreements with various companies in the ICICI Group. ‘3-in-1 account’ facility linked to ICICI Bank savings and demat accounts.

➢ ICICI Sec’s growing investment banking business offers equity capital markets services and other financialadvisory services to corporate clients, the government and financial sponsors

➢ Strong Financial Performance with Significant Operating Efficiency

ICICI Securities

27 J 21 J 17 30 A 27 S 24 O 23 N 19 D 13 27 J20 22 F 14 28 M 26 A 27 M 22 J 18 J 14 27 A 20 S 15 28 O 23 N 18 D 15 29 J21 22 F 18 M 17 31 A

570

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

120 L

1 C

80 L

60 L

40 L

20 L

1-Icici Securities Limited - 30/07/21 F7Net

Daily

QtyLine, DelQtyLine, Avg(QtyLine:S:10)

9 months of correction

ICICI Securities

F 12 24 M 16 25 A 20 29 M 20 J 10 19 30 J 20 29 A 18 27 S 16 25 O 16 27 N 14 25 D 16 28 J21 15 27 F 16 25 M 18 30 A 22 M 12 24 J 11 22 J 12

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

120 L

1 C

80 L

60 L

40 L

20 L

725.00

1-Icici Securities Limited - 30/07/21 F7Net

Daily


Crossing of trendline indicating correction is over

ICICI Securities

Breakout

Volumes

Moved from 450 to 80078% in 3 months

Registrars & Transfer Agents

➢ Registrar help to facilitate holding of dematerialized securities enabling securities transactions to beprocessed by book entry.

➢ Transfer agents are the trusts or institutions that register and maintain detailed records of the transactionsof investors for the convenience of mutual fund houses

Central Depositary Services Limited (CDSL)

Computer Aided Management Systems (CAMS)

➢ It is promoted by the Bombay Stock Exchange. It has 20,667 DP Locations/service centers. It has a higherstockbroker base that trades more frequently and tends to benefit more in the rising markets vs NSDL, asclients trade more often. It works exclusively with some online brokers like Zerodha

➢ Computer Age Management Services Limited (CAMS) is a Mutual Fund Transfer Agency to the Indian AssetManagement Companies with a share of ~ 70% of the assets under management

CDSL v/s NSDL

• The cost of setting up a DP account with CDSL is more attractive than that with NSDL.

• The minimum net requirement for starting a DP account with CDSL is Rs.2 crores Vs Rs.3 crores for NDSL

• CDSL has a centralized server model that requires no upfront investment Vs setting up on-premise servers to connect to NSDL.

• Deposit requirement for CDSL is 50Lakhs, half of NSDL’s requirement of Rs1crore.

• CDSL offers a Tariff based on Slab System vs Fixed rate structure for NSDL.

• The difference in end customer for both CDSL & NSDL.

CDSL

J A S O N D J18 F M A M J 29 J A S O N D J19 F M A M 31 J J A S O N D J20 F M A 30 M J J A S O N

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

9 C

8 C

7 C

6 C

5 C

4 C

3 C

2 C

1 C

D

D

D

1-Central Depository Servic - 28/07/21 F7Net

Weekly


Rounding bottom over 3-years

Breakout level

Consolidation at breakout

Particulars Q3FY21 Q3FY20 Q4FY21 Q4FY20

Revenue 69 42 79 45

EBITDA 46 32 52 26

EBITDA % 67% 23% 65% 42%

PAT 56 14 56 21

Stock has absorbed post IPOselling and its hit new high

CDSL

J A S O N D J18 F M A M J 29 J A S O N D J19 F M A M 31 J J A S O N D J20 F M A 30 M J J A S O N D J21 F M A 30 M J J

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250

200

9 C

8 C

7 C

6 C

5 C

4 C

3 C

2 C

1 C

1329.35

D

D

D

1-Central Depository Servic - 28/07/21 F7Net

Weekly



Breakout level

CDSL


06 07 08 09 12 13 14 15 16 19 20 21 22 23 26 27 28 29 30 N 03 04 05 06 09 10 11 12 13 14 17 18 19 20 23 24 25 26 27 D 02 03 04 07 08 09 10 11 14 15 16 17

1530

1520

1510

1500

1490

1480

1470

1460

1450

1440

1430

1420

1410

1400

1390

1380

1370

1360

1350

1340

1330

1320

1310

1300

1290

1280

1270

1260

6 L

5 L

4 L

3 L

2 L

1 L

D

1-Cams - 28/07/21 F7Net

Daily


Cup and handle pattern10 weeks consolidation

Breakout level

Consolidation at breakout



09 15 21 27 N 06 12 18 24 D 07 11 17 23 30 J21 11 15 21 28 F 09 15 19 25 M 09 16 22 26 A 09 16 23 29 M 11 18 24 28 J 09 15 21 25 J 07 13 19 26

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

20 L

15 L

10 L

5 L

3169.30

D

D

D

1-Cams - 28/07/21 F7Net

Daily



Breakout level


Revenue 180 167 189 164

EBITDA 72 64 79 71

EBITDA % 40% 39% 43% 43%


Exchanges

➢ Exchanges are mediums through which a buyer and seller executes a transaction on a stock exchange. In theIndia Markets, 2 exchanges namely Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) arewidely used.

Bombay Stock Exchange (BSE)

➢ BSE has Derivative market share - 4%, Currency derivatives market share - 34-40% and Cash market share- 5.9%* , have high chances of coming on a growth trajectory soon.

➢ Bse has net cash of approx 1700 crores (~ 30% of Market Cap)(excluding clearing cash)➢ BSE holds 20% stake in CDSL, valuation of which comes to INR 2000 cr (After Holding co. discount)➢ New initiative like insurance, spot exchange and Inx are promising* but determining revenue at this point

of time from these platforms are difficult. However, these new launches clearly indicates the desire toexpand.

➢ Debt market offerings like Star MF portfolio are giving them a spot light in the Debt market.

M 31 A M J J A S O N D J18 F M 28 A M J J A S O N D J19 F M 29 A M J J A S O N D J20 F 28 M A M J J A S O N D

1200

1180

1160

1140

1120

1100

1080

1060

1040

1020

1 T

980

960

940

920

900

880860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340320

300

280

260

140 L

120 L

1 C

80 L

60 L

40 L

20 L

1-Bse Limited - 30/07/21 F7Net

Weekly


Inverted head and shoulders pattern after a long decline

Breakout level

Major decline post listing


M A M J J S O N D J18 F M M J J A S O N J19 F M A M J A S O N D J20 F A M J J A S O D J21 F M A M J

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250 L

2 C

150 L

1 C

50 L

1248.80

1-Bse Limited - 30/07/21 F7Net

Weekly


Moved from600 to 1410135% in 8 months

Breakout level


Revenue 158 150 165 150

EBITDA 39 18 50 8

EBITDA % 25% 12% 30% 6%


Digitalization

➢ Indian technology services could reach USD 300-350 billion in revenues by 2025➢ Values at roughly USD 1 trillion today, it is now among the biggest contributors to economic growth around the

world and especially in India—the industry now produces about 27% of the nation’s exports and provideslivelihoods for about 4.4 million people.

➢ 5% of the world’s largest companies, spend close to 6% of their revenues on technology. They have grown inmarket capitalization by an average of about 22% annually since 2015 and will represent an increasingly largeshare among global majors in the future.

➢ 70% of the world’s largest companies, spend only about 3% of revenues on technology; their marketcapitalization has declined by an average of about 2% since 2015. However post covid things have turnedupside down.

➢ Annual decline in global spending on traditional technology is likely to accelerate from 3-4% today to 8 to 10%,and the share of traditional services in India’s tech services revenues will likely fall from 70-72% to 40-45% by2025.

➢ Happiest Minds is a different IT company because 97% of the revenues are coming from digital whereas traditional ITcompanies get 30-50% from digital.

➢ The average cost per employee is much lower for Happiest Minds as compared to the global giants.

➢ It has 173 client and 87% of the business is repeat business. Over the last several years, ROE and ROCE has been wellabove 25%.

➢ The company has increased its utilization rate from 68% in FY18 to 83% in FY21.


Happiest Minds

21 23 25 29 O 06 08 12 14 16 20 22 26 28 30 N 05 09 11 13 17 19 23 25 27 D 04 08 10 14 16 18 22 24 29 31 J21 06 08 12 14 18 20 22 27 29 F 04 08 10 12 16

415

410

405

400

395

390

385

380

375

370

365

360

355

350

345

340

335

330

325

320

315

310

5 C

450 L

4 C

350 L

3 C

250 L

2 C

150 L

1 C

50 L

1-Happstmnds - 28/07/21 F7Net

Daily


Rounding bottom5-month consolidation

Breakout level


Happiest Minds

23 29 O 12 16 22 28 N 09 13 19 25 D 08 14 18 24 31 J21 12 18 22 29 F 10 16 22 26 M 10 17 23 30 A 12 19 26 30 M 12 19 25 31 J 10 16 22 28 J 08 14 20 27

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

5 C

450 L

4 C

350 L

3 C

250 L

2 C

150 L

1 C

50 L

1386.85

D

1-Happstmnds - 28/07/21 F7Net

Daily



Breakout level

Q3FY21 Q3FY20 Q4FY21 Q4FY20

Revenue 193 172 221 186

EBIDTA 51 24 56 22

EBIDTA % 27% 14% 25% 12%

Happiest Minds

persistentQ3FY21 Q3FY20 Q4FY21 Q4FY20

Revenue 1075 923 1113 926

EBIDTA 182 124 188 127

EBIDTA % 17% 13% 17% 14%

S N D F13 A J A O N J14 M M J S O D F15 A J A O N J16 M M J S O D F17 A J A S N J18 M M J A O D F19 A J A S N J20 M M J

960

940

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

60 L

50 L

40 L

30 L

20 L

10 L

1-Persistent - 30/07/21 F7Net

Weekly


Major 5-year consolidation

Breakout level

Persistent

J S N J15 M M J S N J16 M M J S N J17 M M J S N J18 M M J S N J19 M M J S N J20 M M J S N J21 M M J

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

80 L

70 L

60 L

50 L

40 L

30 L

20 L

10 L

3143.20

1-Persistent - 30/07/21 F7Net

Monthly



Breakout level

Persistent


Revenue 1075 923 1113 926

EBIDTA 182 124 188 127

EBIDTA % 17% 13% 17% 14%

Double bottom

Breakout level

Key pivotal support

Tata Elxsi

Breakout level


Breakout level

Tata Elxsi


Revenue 477 423 558 439

EBIDTA 144 94 168 109

EBIDTA % 30% 22% 32% 25%

➢ Steel is major component when It comes to Infrastructure development. Post covid, to normalize theeconomy, various countries announced various large infrastructure projects to create demand..

➢ China is the largest manufacturer and the largest consumer of Steel globally. Due to its largeoperations China supplied more than it produced. However, in order to support the Chineseeconomy, governments massive spend on infrastructure lead to China being a net importer of steelfrom a net exporter. This led to massive demand globally.

➢ China’s recent policies 1) No increase in Steel production for 2021 vs 20, 2) Reduction in Utilization inTangshan to control emissions, 3)Crackdown on Sintering / Coking in Shanxi: 4) Ultra low EmissionOnly 16 of 250+ achieved till date; 5) Removal of exports tariffs 6) Imposing of fresh restrictions

➢ Owing to the same, Indian companies have reported stellar numbers and repaid huge amount ofdebt in the last FY.

STEEL


J08 A J O J09 A J O D A10 J O D A11 J S D M12 J S D M13 J S D M14 J S D M15 J S D M16 J S D M17 J S D M18 J S D M19 J S D M20 J S

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

12 C

10 C

8 C

6 C

4 C

2 C

1-Tata Steel Limited - 28/07/21 F7Net

Weekly


Major multi year consolidation since 2008

Crossed major falling trendline

Huge volumes at lower levels

Tata Steel

2-year decline

M J J S O D J17 F A M J A S N D J18 M A J J A O N D F19 M M J J S O N J20 F A M J A S O D J21 M A M J

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

16 C

14 C

12 C

10 C

8 C

6 C

4 C

2 C

1365.00

1-Tata Steel Limited - 28/07/21 F7Net

Weekly


Moved from 450 to 1370204%

Tata Steel



Revenue 41902 35520 49977 36009

EBIDTA 9568 3557 14184 4799

EBIDTA % 23% 10% 28% 13%


High volumes at lower levels

Sail

2-year decline


Sail


➢ Sugar is a commodity item, the prices of which are a result of demand and supply.India is the second-largest producer of sugar. It contribute about 20% to the globalsupply. There are over 530 sugar mills in the country, but a significant chunk ofsugar production (80%) happens in UP, Maharashtra, and Karnataka.

➢ While producing sugar from sugarcane juice, molasses turns out to be a byproduct, which can be later used coproduce ethanol.

➢ Taking in numbers, one tonne of cane, mills can produce 115 kg of sugar (at 11.5%recovery) and 45 kg of molasses (18 kg) that gives 10.8 litres of ethanol.

➢ Goverment's latest step to increase ethanol blending into petrol due to rising fuelprices, will give a push to sugar industry.

➢ Hence, with this the margins of sugar companies are expected to touch mid teensfrom mid single digits.

➢ Prime minister Narendra Modi announced June 5, 2021 the target of 20% ethanolblended petrol has been advanced by five years to 2025

B. SUGAR


Breakout levelBalrampur Chini

Major multi year consolidation since 2006Between 200-30


Breakout level

Balrampur Chini

AFFLE

➢ Affle India Ltd is an ad tech company that helps advertisers drive useracquisition, improve engagement and increase the frequency oftransactions through mobile advertising using its proprietary consumerplatform.

➢ The share of digital ads in media budgets across industries is increasing.Players with scalable end-to-end offerings across the ad-tech valuechain, such as Affle, should be a beneficiary of the internet wave anddigital expansion.

➢ Affle provides end-to-end automated mobile advertising consumer platform, coupled with a cost per converted user (CPCU) model, drives ROI and ensures high client retention and strong network effects.

➢ Filed 14 patents in Singapore and the USA to fortify AI-driven intelligence & automation for conversion-driven marketing with key focus on conversational, vernacular and voice based intelligence.

Profit & Loss

Rs cr FY18 FY19 %

Revenue 167.2 249.4 49%

EBITDA 45.5 70.3 55%

EBIT 37.2 60.2 62%

Profit 27.8 48.8 76%

Breakout level

Praj Industries

Major multi year base formation since 2008 at lower levels

High volumes at lower levels

M06 J N M07 J N M08 J N M09 J N M10 J N M11 J N M12 J N M13 J N M14 J N M15 J N M16 J N M17 J N M18 J N M19 J N M20 J N M21 J

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

50

40

30

20 C

18 C

16 C

14 C

12 C

10 C

8 C

6 C

4 C

2 C

366.85

1-Praj Industries Ltd - 30/07/21 F7Net

Monthly



Breakout level

Praj Industries

AFFLE

Key Investors in parent company

Shareholding Pattern

as of Sep 2019

as of Sep 2019

Public shareholding >1%

AFFLE

09 13 14 16 19 20 21 22 23 26 27 28 29 30 S 04 05 06 09 11 12 13 16 17 18 19 20

1030

1020

1010

1 T

990

980

970

960

950

940

930

920

910

900

890

880

870

860

850

840

830

820

810

800

790

780

770

760

750

740

730

720

80 L

60 L

40 L

20 L

1-AFFLE (INDIA) LIMITED - 10/12/19 F7

Daily

QtyLine

960

Stock has absorbedpost IPO selling andits hit new high

Moved 26%from thelows

AFFLE

14 20 23 28 S 06 12 17 20 25 30 O 10 15 18 24 29 N 06 11 15 20 25 28 D 06

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

80 L

60 L

40 L

20 L

1341.20

1-AFFLE (INDIA) LIMITED - 10/12/19 F7

Daily

QtyLine

960

1739

81% in four months

AFFLE

30 O 29 N 25 D 19 J20 15 28 F 20 M 19 A 20 M 15 29 J 24 J 20 31 A 26 S 21 O 16 29 N 24 D 21 J21 15 29 F 24 M 23 A 22 M 19 J 14 25 J 22

6200

6 T

5800

5600

5400

5200

5 T

4800

4600

4400

4200

4 T

3800

3600

3400

3200

3 T

2800

2600

2400

2200

2 T

1800

1600

1400

1200

1 T

800

14 L

12 L

10 L

8 L

6 L

4 L

2 L

4185.25

1-Affle (india) Limited - 30/07/21 F7Net

Daily


960

2300

140%

173%

6285

Polycab India

➢ Demonetization and the introduction of GST have increased the pace at which the shift from the unorganizedto the organized is taking place. According to industry data, the share of the unorganized players has fallenfrom ~39% in FY14 to ~34% in FY18 and is expected to correct further to ~26% by 2023.

➢ Polycab has a robust network of dealers and distributors, which will enable it to capture this shift from theunorganized players extremely efficiently.

➢ Sustained investments in FMEG over FY14-21E (a third of overall capex) will help the company ramp uprevenue market share from ~1% currently to ~3% (~4x growth in revenues) over the next three-four years withsignificant operating margin ramp up potential.

➢ C&W industry is INR600bn plus (in FY19) has posted volume/value CAGR of 21%/12% over the same period.

➢ Polycab is taking several initiatives—channel financing, better inventory management, among others—toimprove cash flow which will gradually spur free cash

➢ ROCE has improved 700bps to ~21% over FY15-19.

Polycab India

Polycab has attained this market leadership riding following strategies:

➢ Sustained annual capex (higher than peers) to have the largest manufacturing capacity.

➢ Focus on availability of products (reflected in higher inventory days) with fast TAT.

➢ Strong dealer network penetration—Project Bandhan, Project Josh.

➢ High advertisement expenses to create brand pull, particularly for wires.

Polycab India

C&W industry market share is highly concentrated

Polycab - Largest C&W player, revenue 2x second largest player

Institutional and HNI activity

70

➢ Increase in Bulk and Block deal activity

➢ Institutional Investors/Analyst Meet

Polycab India

07 10 15 20 23 28 31 J 11 14 19 24 27 J 05 10 15 18 23 26 31 A 08 14 20 23 28 S 06 12 17 20

700

695

690

685

680

675

670

665

660

655

650

645

640

635

630

625

620

615

610

605

600

595

590

585

580

575

570

565

560

555

550

545

540

535

530

525

520

515

510

505

14 L

12 L

10 L

8 L

6 L

4 L

2 L

1-POLYCAB INDIA LIMITED - 10/12/19 F7

Daily

QtyLine

640

Moved 23% from lows

Pick up in volumes compared to recent

72

Analyst MeetInstitutional Investors/Analyst Meet

Polycab India

12 18 24 28 J 10 16 22 26 A 07 14 21 27 S 09 16 20 26 O 10 16 23 29 N 08 15 21 27 D 09

1180

1160

1140

1120

1100

1080

1060

1040

1020

1 T

980

960

940

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

14 L

12 L

10 L

8 L

6 L

4 L

2 L

968.35

1-POLYCAB INDIA LIMITED - 10/12/19 F7

Daily

QtyLine

640

1092

70% in 3 months

Rs. Crores Sep-18 Sep-19 %

Sales 1812 2242 24%

Operating Profit 213 270 27%

PBT 139 230 65%

Net Profit 89 192 116%

Quarterly Result

M

M

Polycab India

30 O 29 N 25 D 19 J20 15 28 F 20 M 19 A 20 M 15 29 J 24 J 20 31 A 26 S 21 O 16 29 N 24 D 21 J21 15 29 F 24 M 23 A 22 M 19 J 14 25 J 22

2050

2 T

1950

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

35 L

30 L

25 L

20 L

15 L

10 L

5 L

1850.65

1-Polycab India Limited - 30/07/21 F7Net

Daily


640

2033

218%

Thank You

75

Thank You

76

Gujarat Gas

➢ Pollution Control Measures to Drive PNG Industrial Volume Growth - National Green Tribunal (NGT) hasidentified 38 critically polluted areas, and directed all state pollution control boards to finalise a time-boundaction plan to bring all such industrial clusters within the safe parameters.

➢ About 38% of Delhi Mumbai Industrial Corridor which is expected to >60% of investment.

➢ The Govt. of Gujarat in co-operation with Guj Gas and Sabarmati Gas launched CNG Sahbhagi Yojana to set up214 CNG stations across the state at the cost of Rs8bn. The Gujarat Government has handed over Letter ofIntent (LOI) to the 214 dealers for setting up CNG stations

➢ Global LNG prices continue to remain under pressure owing to higher LNG supply, which rose by ~30mmt YoYto 240mmt in CY19 YTD. In GUJGA’s sourcing-mix, LNG accounted for 77%, while lower LNG prices led to rise inEBITDA/scm to Rs5.0 in 1HFY20.

Income Statement Shareholding Pattern

Gujarat Gas

Share of Gujarat Gas in India’s industrial PNG consumption

Gujarat Gas pipeline network and operating area

A S O N D J18 F M 28 A M J J A S O N D J19 F M 29 A M J J A S O

220

215

210

205

200

195

190

185

180

175

170

165

160

155

150

145

140

135

130

125

120

115

110

105

80 L

60 L

40 L

20 L

1-GUJGASLTD - 12/12/19 F7

Weekly

QtyLine

640

195

Cup and Handle pattern

Gujarat Gas

Accumulation

Rs. Crores Sep-18 Jun-19 Sep-19 % QoQ % YoY

Sales 1964 2615 2513 -4% 28%

Operating Profit 161 466 371 -20% 130%

PBT 58 360 261 -28% 350%

Net Profit 41 234 517 121% 1161%

Volume (mmscmd) 6.7 9.2 9.3 1% 39%

Quarterly Result

29 O N D J18 F M A M J J A 31 S O N D J19 F M A M J J A 30 S O N

250

245

240

235

230

225

220

215

210

205

200

195

190

185

180

175

170

165

160

155

150

145

140

135

130

125

120

115

110

105

100

80 L

60 L

40 L

20 L

225.70

195.69

1-GUJGASLTD - 12/12/19 F7

Weekly

QtyLine

195

232

19% in 6 weeks

Gujarat Gas

Abbott India

➢ Abbott India is the fastest growing listed MNC pharma company. It has outperformed the industry on aconsistent basis in women’s health, gastrointestinal, metabolic, pain, central nervous system and vaccines.

➢ Abbott’s strong growth track in power brands and capability of new launches on a fairly consistent basis (100products in the last 10 years)

➢ The company’s top 10 brands (power brands) together registered a revenue CAGR of ~17% in September 2015-19

➢ Access to innovative molecules from global parent to drive growth

➢ EBITDA margins have recovered from the lows of 11.8% in FY14 (adjusted) due to inclusion of one its top brand(Thyronorm) under price control (NLEM) to 18.4% in H1FY20.

➢ Recent tax amendments have the effect of reducing the company’s tax rate from 36% in FY19 to 25.2% fromFY20 onwards.

➢ Abbott India is a debt-free company and has seen its core RoEs improving from 72% in FY14 to 126% in FY19

Growth

N D 22 J18 F 23 M A 27 M J 29 J A 31 S O N 22 D J19 25 F M 29 A M 31 J J A

10200

10 T

9800

9600

9400

9200

9 T

8800

8600

8400

8200

8 T

7800

7600

7400

7200

7 T

6800

6600

6400

6200

6 T

5800

5600

5400

5200

5 T

4800

4600

4400

4200

4 T

3800

3600

3400

2 L

150 T

1 L

50 T

1-Abbott India Limited - 12/12/19 F7

Weekly

QtyLine

640

9000

Up move

Abbott India

High volume

Consolidation

N D J18 F M A M J 29 J A S O N D J19 F M A M 31 J J A S O N D

14500

14 T

13500

13 T

12500

12 T

11500

11 T

10500

10 T

9500

9 T

8500

8 T

7500

7 T

6500

6 T

5500

5 T

4500

4 T

3500

3 T

2 L

150 T

1 L

50 T

12680.50

1-Abbott India Limited - 12/12/19 F7

Weekly

QtyLine

9000

13050

45% in 4 months

Abbott India

Brokerage Industry

➢ Rising Retail Participation

➢ Increasing Share of Internet and Mobile Trading

➢ Increasing Depository Accounts

➢ Institutional Investment into Equities

➢ Full Service Brokerages Continue to Maintain Market leadership

➢ Largest Equity Broker in India Powered by Proprietary Technology Platform

➢ Natural Beneficiary of Fundamental Transformation in the Indian Savings Environment

➢ Strong and growing distribution business :- third-party mutual funds, insurance products, fixed deposits, loansand pension products to its retail customers for commission income

➢ Superior Customer Experience through Product and Technology Innovation

➢ ICICI Group ecosystem, it has mutually beneficial agreements with various companies in the ICICI Group. ‘3-in-1 account’ facility linked to ICICI Bank savings and demat accounts.

➢ ICICI Sec’s growing investment banking business offers equity capital markets services and other financialadvisory services to corporate clients, the government and financial sponsors

➢ Strong Financial Performance with Significant Operating Efficiency

ICICI Securities

25 M 28 J 27 J 27 A 30 S O 22 N 22 D 26 J19 25 F 26 M A 16 M 22 J 24 J 24 A 27 S 30 O

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

35 L

30 L

25 L

20 L

15 L

10 L

5 L

355.60

1-ICICI SECURITIES LIMITED - 12/12/19 F7

Daily

QtyLine

290

Post IPO Selling

ICICI Securities

High volume

ConsolidationBase formation

High volumeBut no new low

S 21 O 23 N 21 D 20 J19 18 F 15 M 18 A 16 M 20 J 18 J 16 30 A 29 S 30 O 31 N 29

395

390

385

380

375

370

365

360

355

350

345

340

335

330

325

320

315

310

305

300

295

290

285

280

275

270

265

260

255

250

245

240

235

230

225

220

215

210

205

200

195

190

185

180

175

170

165

35 L

30 L

25 L

20 L

15 L

10 L

5 L

354.70

1-ICICI SECURITIES LIMITED - 12/12/19 F7

Daily

QtyLine

290

365

26% in 2 months

ICICI Securities

SRF Ltd

➢ A clampdown on chemical manufacturing, tightener pollution control norms and the threat of US tariffs inChina caused disruption

➢ Indian specialty chemicals were the beneficiary

➢ Turnaround in specialty chemicals

➢ Dominant position in the market with largest market share

➢ Market leadership position in Nylon Tyre Cord Fabrics

➢ The company doubled its Hydroflurocarbon capacity to 50,000MT with an investment of INR3,800m

General Insurance

➢ General insurance industry (GI Ind), which has a size of Rs 1.70 tn on a GDPI basis as of FY19, offers financialprotection for motor, health, crop, fire, and marine, to various categories of customers such as retail, corporateand government.

➢ Significant under penetration of non-life insurance market – India’s general insurance penetration is one of thelowest among BRICS countries, offering ample opportunities in the near term

➢ Structural shift in market share away from State owned insurers – public sector companies dominate thesector

➢ India, as a country offers immense growth opportunities for non-life insurance sector, owing to the favorabledemographic dividend (with 65% of the population below the age of 35), and lower penetration at around1.2% of GDP (calculated), as against a world average of 2.78% (in CY17 according to Sigma 2018 Swiss report).

➢ The industry has shown strong growth in last few years (CAGR of 19% over FY15-19), owing to the expansion ofthe associated industries (likeautomobile & healthcare) and the introduction of new products coveringmiscellaneous risks associated with the current market scenario.

20 M 15 27 A 20 M 15 25 J 18 28 J 20 A 13 27 S 19 O 15 26 N 20 D 13 26 J19 17 29 F 20

2600

2550

2500

2450

2400

2350

2300

2250

2200

2150

2100

2050

2 T

1950

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

20 L

15 L

10 L

5 L

1-SRF Ltd. - 12/12/19 F7

Daily

QtyLine

2250

Double Bottom

SRF Ltd

High volumesDouble bottom

High volume

1st low

2nd low

A M 25 J J 19 A 28 S O 26 N D 24 J19 30 F M 28 A M 28 J J 23 A 30 S O 31 N D

3600

3550

3500

3450

3400

3350

3300

3250

3200

3150

3100

3050

3 T

2950

2900

2850

2800

2750

2700

2650

2600

2550

2500

2450

2400

2350

2300

2250

2200

2150

2100

2050

2 T

1950

1900

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

30 L

25 L

20 L

15 L

10 L

5 L

3309.15

1-SRF Ltd. - 12/12/19 F7

Daily

QtyLine

2250

3323

48% in 9 months

SRF Ltd

“When do you want get diagnosed?”

91

D J17 F M A M J A S O N D J18 M A M J J A S N D J19 F M A M J A S O N

10800

10600

10400

10200

10 T

9800

9600

9400

9200

9 T

8800

8600

8400

8200

8 T

7800

7600

7400

7200

7 T

6800

6600

6400

6200

6 T

5800

5600

5400

5200

5 T

4800

4600

4400

4200

4 T

1 C

80 L

60 L

40 L

20 L

7090.00

1-Maruti Suzuki India Ltd - 13/12/19 F7

Weekly

QtyLine

Maruti Suzuki

10,000

Breakdown confirmation

Reversal signal 8600

8,250

Double Top

COLD

FEVER

cmp 7090

Edelweiss Financial Services

23 J 26 J 30 A S 24 O 30 N D 21 J19 25 F 28 M A 25 M 31 J J 23 A 28 S O 24 N 28

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

50

40

30

140 L

120 L

1 C

80 L

60 L

40 L

20 L

114.50

1-Edelweiss Financial Servi - 13/12/19 F7

Daily

QtyLine

270

Breakdown

Consolidation

Resumption of downtrend

Volumes on declines

Support now acting as Resistance

206

COLDFEVER

ICU

cmp 115

Technical Analysis = Brahmastra

Art of exiting :

Arjun vs Abhimanyu

In Smallcap/high beta/fancy names/ new flavours/topnewsmakers you have to be Arjun not Abhimanyu

Who am I?

Vakrangee

J 17 25 A 10 21 30 S 15 25 O 12 23 31 N 16 24 D 12 20 29 J18 16 24 F 12 21 M 12 20 28 A 17 25 M 14 22

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

6 C

5 C

4 C

3 C

2 C

1 C

34.00

2-VAKRANGEE LIMITED - 21/06/19 F7Net

Daily

QtyLine

In uptrend forming high forming higher tops and higher bottoms

364

False HopeFrom low recovery of 15%

High Volumes

Further confirmation

Now less than 10th value cmp 34

High 515

PC Jeweller

25 O 18 31 N 22 D 14 27 J18 18 31 F 23 M 20 A 13 25 M 18 30 J 21 J 13 25 A 17 30 S 25 O

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

22 C20 C

18 C16 C14 C

12 C10 C8 C

6 C4 C2 C

52.05

2-PC JEWELLER LIMITED - 21/06/19 F7Net

Daily

QtyLine

In uptrend forming high forming higher tops and higher bottoms

Close 364

Intraday From low recovery of 67%

Highest volumes for the stock

cmp 52

High 600

Infibeam Avenues

16 26 A 13 23 M 10 18 28 J 13 21 29 J 17 25 A 10 21 30 S 18 27 O 16 25 N 13 21 30 D

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

50

40

30

20

14 C

12 C

10 C

8 C

6 C

4 C

2 C

45.15

2-INFIBEAM AVENUES LIMITED - 21/06/19 F7Net

Daily

QtyLine

Recovery from 140 to 225. But failed to move above the highs

First signal

cmp 45

High 242

“Avoid falling knives”

99

Stockholm syndrome

100

“is when kidnapped falls in love with kidnapper. Holding to dicey stocks where promoter ethics is hazy is exactly the same thing. Averaging it when it crashes is one step ahead – actually marrying the kidnapper”

DHFL

M 21 J 14 27 J 23 A 17 31 S 28 O 26 N 22 D 19 J19 15 28 F 21 M 20 A 16 M 16 29 J

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

-20

12 C

10 C

8 C

6 C

4 C

2 C

73.20

580.44

680.27

1-DEWAN HOUSING FINANCE - 21/06/19 F7

Daily

QtyLine, Avg(QtyLine:S:10), DelQtyLine

580

60% recovery from low of 274 to 438 next day

Consolidation

Huge Volumes on declines

Breakdown from consolidation

680

False Hope

New low

New lowNew low

Yes Bank

J 18 A 16 31 S 28 O 30 N 27 D 26 J18 23 F 22 M 23 A 24 M 23 J 20 J 18 A 16 31 S O 17 N 16 D 17 J19 15 29 F 26 M 28 A 30 M 29 J

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

230

220

210

200

190

180

170

160

150

140

130

120

110

100

90

80

70

60

25 C

20 C

15 C

10 C

5 C

109.60

285.05

382.97

1-YES BANK LIMITED - 21/06/19 F7

Daily

QtyLine, Avg(QtyLine:S:10), DelQtyLine

383

Gap down open at 285

Consolidation 285

Breakout

Again reversal from breakdown level

Breakout failure and Gap down opening at 343

COLD

FEVERICU

Gap down open at 213

Unsung Heroes

Less Pattern Great Return

103

Pfizer – Strong Parentage/Trusted Brand

104

D J01 F02 S A03 N J04 J05 A M06 O M07 D J08 F09 S A10 N J11 J12 A M13 O M14 D J15 F16 S A17 N J18 J19

4 T

3900

3800

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

3264.55

2-Pfizer Ltd. - 21/06/19 F7Net

Monthly

Higher Tops and Higher Bottoms

Honeywell Automation - Strong Parentage/Trusted Brand

105

S F08 J D M09 O M10 A J11 J N A12 S F13 J D M14 O M15 A J16 J N A17 S F18 J D M19

29 T

28 T

27 T

26 T

25 T

24 T

23 T

22 T

21 T

20 T

19 T

18 T

17 T

16 T

15 T

14 T

13 T

12 T

11 T

10 T

9 T

8 T

7 T

6 T

5 T

4 T

3 T

2 T

1 T

24658.60

2-Honeywell Auto India Ltd. - 21/06/19 F7Net

Monthly


Gillette India – Strong Parentage/Trusted Brand

106

J J05 J J06 J J07 J J08 J J09 J J10 J J11 J J12 J J13 J J14 J J15 J J16 J J17 J J18 J J19

8200

8 T

7800

7600

7400

7200

7 T

6800

6600

6400

6200

6 T

5800

5600

5400

5200

5 T

4800

4600

4400

4200

4 T

3800

3600

3400

3200

3 T

2800

2600

2400

2200

2 T

1800

1600

1400

1200

1 T

800

600

400

200

7450.65

2-Gillette India Ltd. - 21/06/19 F7Net

Monthly


HDFC Bank

107

F05 A F06 A F07 A F08 A F09 A F10 A F11 A F12 A F13 A F14 A F15 A F16 A F17 A F18 A F19

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

2414.20

2-HDFC Bank Ltd. - 21/06/19 F7Net

Monthly


10 Years: 19.74% 10 Years: 25.12% 10 Years: 18.08%



TTM: 23.34% TTM: 20.54% Last Year: 16.50%

Compounded Revenue Growth Compounded Profit Growth Return on Equity

Bajaj Finance

108

J08 J N A09 S F10 J D M11 O M12 A J13 J N A14 S F15 J D M16 O M17 A J18 J N A19

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

-100

3565.85

2-BAJAJ FINANCE LIMITED - 21/06/19 F7Net

Monthly





TTM: 37.56% TTM: 56.58% Last Year: 20.27%

Compounded Revenue Growth Compounded Profit Growth Return on Equity

Lower Price + Higher Attraction orHigher Price + Lower Attraction

109

RCOM, JP Associates, Suzlon, South Indian BankOrAarti Industries, 3M India, Godrej Properties

110

Past Heroes, not necessarily current heroes….

Reliance Infra

A01 N J02 J03 A M04 O M05 D J06 F07 S A08 N J09 J10 A M11 O M12 D J13 F14 S A15 N J16 J17 A M18 O M19

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

60 C

50 C

40 C

30 C

20 C

10 C

57.50

2-Reliance Infrastructu Ltd - 21/06/19 F7Net

Monthly

QtyLine

High 2641Jan, 2008

4x from low

Double from low

Unitech

J O F04 J O F05 J O F06 J O F07 J O F08 J O F09 J O F10 J O F11 J O F12 J

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

-20

180 C

160 C

140 C

120 C

100 C

80 C

60 C

40 C

20 C

1.00

2-UNITECH LTD - 21/06/19 F7Net

Monthly

QtyLine

Cmp 1

High 547Jan, 2008

5x from low

Lupin

J07 J N A08 S F09 J D M10 O M11 A J12 J N A13 S F14 J D M15 O M16 A J17 J N A18 S F19

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

800

700

600

500

400

300

200

100

8 C

7 C

6 C

5 C

4 C

3 C

2 C

1 C

712.80

2130.00

2-Lupin Limited - 21/06/19 F7Net

Monthly

QtyLine

October 2015

Sun Pharma

F11 J O F12 J O F13 J O F14 J O F15 J O F16 J O F17 J O F18 J O F19 J

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250

200

150

40 C

35 C

30 C

25 C

20 C

15 C

10 C

5 C

382.80

2-Sun Pharma Ltd - 21/06/19 F7Net

Monthly

QtyLine

High 1200April 2015

Dr Reddy

M S J10 M S J11 M S J12 M S J13 M S J14 M S J15 M S J16 M S J17 M S J18 M S J19 M

4400

4200

4 T

3800

3600

3400

3200

3 T

2800

2600

2400

2200

2 T

1800

1600

1400

1200

1 T

800

600

400

200

3 C

250 L

2 C

150 L

1 C

50 L

2551.55

2-Dr. Reddys Lab Ltd - 21/06/19 F7Net

Monthly

QtyLine

High 4386October 2015

Dating vs Marriage

• HEG

• Escorts.. Testing

118

Let’s Date…

• HEG


119

800%

HEG 2013 2014 2015 2016 2017

Sales 1,623 1,467 1,233 870 860

Operating Profit (Rs. Crore) 238 221 182 136 81

ROE % 12.3 9.4 4.1 -1.6 -5.7

PBDIT Margin % 18.9% 18.3% 16.7% 15.5% 10.2%

• HEG


120

Let’s Date…

More than 5 year consolidation

Breakout190

• HEG


121

No more date… I’m serious!

315%

ESCORTS 2012 2014 2015 2016 2017

Sales 3,894 6,292 3,986 3,367 4,094

Operating Profit (Rs. Crore) 182 385 41 147 272

ROE % 4.4 13.6 4.2 4.9 8.1

PBDIT Margin % 5.9% 7.4% 5.6% 6.3% 9.0%

• Page Industries

• Britannia

• KEC

122

You are the best!!

17000Breakout

High volume

23.6%

38.2%

50%

61.8%

100%

Fibonacci Retracement & Extension

Fibonacci Retracement Levels

100%

138.2%

161.8%

261.8%

Fibonacci Extension Levels

J13 M A M J A O N D F14 M M J J S O N J15 F A M J A S O D J16 M A M J

23 T

22500

22 T

21500

21 T

20500

20 T

19500

19 T

18500

18 T

17500

17 T

16500

16 T

15500

15 T

14500

14 T

13500

13 T

12500

12 T

11500

11 T

10500

10 T

9500

9 T

8500

8 T

7500

7 T

6500

8349.68

17958.93 (23.60% )

16122.61 (38.20% )

14638.46 (50.00% )

13154.31 (61.80% )

8349.68 (100.00% )

20927.23

1-BANKNIFTY.Rolling - 09/10/19 F7

Weekly

Fibonacci Retracement

J15 30 F M A M J J A S O N D J16 29 F M A M J J A S O N D 30

9500

9450

9400

9350

9300

9250

9200

9150

9100

9050

9 T

8950

8900

8850

8800

8750

8700

8650

8600

8550

8500

8450

8400

8350

8300

8250

8200

8150

8100

80508 T

7950

7900

7850

7800

7750

7700

7650

7600

7550

7500

7450

7400

7350

7300

7250

7200

7150

7100

7050

7 T

6950

6900

6850

6800

6750

6700

6650

6600

6550

6500

7399.18 (23.60% )

7727.60 (38.20% )

7993.02 (50.00% )

8258.45 (61.80% )

9117.72 (100.00% )

6868.33

1-Nifty 50 - 09/10/19 F7

Weekly

Fibonacci Extension

J O J09 A J O J10 A J O J11 A J O J12 A J O J13 A J O J14 A J O J15 A

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

-20

-40

25 C

20 C

15 C

10 C

5 C

712.75

742.81

504.68

448.15

356.74

51.25

289.50

119.07

357.31 (100.00% )

448.32 (138.20% )

504.55 (161.80% )

742.79 (261.80% )

1-TECH MAHINDRA LIMITED - 09/10/19 F7

Monthly

QtyLine

VOLUMES

128

M 30 J J A S O N D J15 F M A 30 M J J A S O N D J16 F M A 29 M J J A S O N D J17 F M 31 A M J J A S O

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

140

120

100

80

60

40

20

140 L

120 L

1 C

80 L

60 L

40 L

20 L

286.45

1-SHAKTI PUMPS (INDIA) LIMI - 31/07/19 F7

Weekly

QtyLine

Breakout

Breakout Volume

280

95

Height =280-95=185

Target = 280 + 195 = 475

Comparative Strength vs Peers vs Sectors vs Benchmark

129

Good Business Good Cycle – Buy on dips, Buy on Rallieseg HDFC Bank, Nestle India, Infosys, Asian Paints, Bajaj Finance

Good Business Bad Cycle – Be Opportunisticeg Tata Steel, L&T

Bad Business Good Cycle – Buy on every breakout, Sell on first significant reversaleg HEG, Rain Industries,

Bad Business Bad Cycle– Don’t toucheg JP Associates, RCOM, HCC,etc

130

Define your company

Reliance Industries

131S J08 M S J09 M S J10 M S J11 M S J12 M S J13 M S J14 M S J15 M S J16 M S J17

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

520

500

480

460

440

420

400

380

360

340

320

300

280

260

240

220

200

180

160

50 C

40 C

30 C

20 C

10 C

1-Reliance Industries Ltd - 12/12/19 F7

Monthly

QtyLine

Multi year consolidation8 years

Symmetrical Triangle Pattern

600

Higher volumes on up move

Reliance Industries

J D M08 O M09 A J10 J N A11 S F12 J D M13 O M14 A J15 J N A16 S F17 J D M18 O M19 A

1850

1800

1750

1700

1650

1600

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

50

50 C

40 C

30 C

20 C

10 C

1568.20


Monthly

QtyLine

1600

1614

600

194% in 33 months

Mutual Fund Industry

➢ Indian MF AUM as a share of GDP (11%) remains significantly lower than the world average of 62%

➢ Indian Mutual Fund has grown at CAGR of 17.4% over last 10 years, which is only second to China and twice ofGlobal AUM. India is 7th largest economy in the world, yet ranks 17th in terms of Mutual Fund AUM.

➢ Indian household savings as a percentage of GDP have declined over the recent past, RBI data indicate thathouseholds are moving higher shares of their savings to financial assets

➢ Within financial assets, the share of non-bank deposit instruments like mutual funds and insurance are on therise. Traditional physical savings avenues real estate and Gold have given stagnating or falling returns asopposed to higher returns in equity and debt.

➢ Fixed income returns trended down since FY12, hence from Retirement planning perspective MF imperative.

➢ Top 10 funds contributed ~82% to Industry AUM in FY19, showing that scale is crucial for thriving in theindustry. While the industry has seen an increase in the number of mutual fund players, it has also undergoneconsolidation, especially the mid-sized and smaller AMCs.


MF industry has witnessed healthy growth with AUM of ~Rs. 25.6 trillion as of end-September 2019; implying~17% CAGR for nearly two decades. From a more recent starting point (FY11) also, overall MF AUM growth hasshown a strong performance with through-the-cycle overall MF AUM CAGR (FY11 - FY19) of 19%.

Mutual Fund Industry AUM GrowthMF AUM to total deposits of Scheduled Commercial Banks


➢ MF Industry has 44 players with 5 largest AMCs commanding a market share of 58%.

➢ BIG are getting BIGGER – HDFC, ICICI and SBI market share of 38.7% in Mar’19 vs 25.2% in Apr’06.

➢ Bank/Financial conglomerate promoted AMCs enjoy distribution and brand advantage.

➢ Significant recent regulatory changes such as revised expense ratios will lower costs for mutual fundinvestors and should aid in greater retail participation

➢ Systematic Investment Plan (SIP) flows have seen high growth over the last five years and should be astrong driver for MF AUM growth. They have been persistent despite market volatility.

➢ Unique mutual fund investor count in the industry is still only ~20mn. This low penetration providesscope for strong future growth

➢ Equity-oriented schemes share increased from 33% in Mar’10 to 37% in Mar’19.

HDFC AMC

➢ Operates as an investment management firm. Offers portfolio management and advisory services to individuals,institutions, trusts, private funds, charitable organizations, and investment companies. HDFC Asset Managementserves customers in India.

➢ HDFC AMC is largest AMC with market share of 14% and AUM of Rs 3.43 lakh cr. Formidable size achieved due tobenefits Parentage/Trusted brand name, strong pan-India distribution network, operational efficiency, focus on thehigher-yield equity segment, and consistent fund performance over the past, led to healthy AUM growth at highlyprofitable levels.

➢ India’s under penetration of mutual funds relative to the world vs. competing areas of bank deposits/insuranceadditionally lends credence to longer-cycle growth from the “financialization” of savings. Company’s business modelchecks most of the investment criteria of a growing and high-ROE business, positive free cash flow and high dividendpayouts.

➢ HDFCAMC’s business is well positioned longer term, benefiting from its leadership position in the industry (andespecially equity) and its status as the most profitable AMC in the industry since 2011.

➢ The superior product mix helps company generate higher yield on AUM. The equity mix of AUM, at 47.7%, continuesto be higher than industry levels of 43.3%

➢ The AMC has been a net beneficiary of a ban on upfront commissions that has resulted in margins movingstructurally up. Further, it has been able to largely pass on all total expense ratio reductions to its distributors

HDFC AMC

as of Sep 2019

Shareholding Income Statement Key Ratios

HDFC AMC

28 S 14 25 O 12 23 31 N 19 28 D 14 24 J19 10 18 28 F 13 21 M 12 20 29 A 16 26 M 16 24

2080

2060

2040

2020

2 T

1980

1960

1940

1920

1900

1880

1860

1840

1820

1800

1780

1760

1740

1720

1700

1680

1660

1640

1620

1600

1580

1560

1540

1520

1500

1480

1460

1440

1420

1400

1380

1360

1340

1320

1300

1280

1260

1240

1220

1200

1180

1160

50 L

40 L

30 L

20 L

10 L

1-HDFC ASSET MANAGEMENT COM - 13/12/19 F7

Daily

QtyLine

1600 Double bottom breakout

1st Bottom

2nd Bottom

Moved 28%from lows

1760

Rs. Crores Mar-18 Mar-19 %

Sales 469 486 4%

Operating Profit 248 357 44%

Other Income 31 61 97%

Deprication 2 3 50%

PBT 277 415 50%

Net Profit 172 276 60%

Quarterly Result

HDFC AMC

21 S 21 O 23 N 21 D 20 J19 18 F 15 M 18 A 16 M 20 J 18 J 16 30 A 29 S 30 O 31 N 29

4200

4100

4 T

3900

3800

3700

3600

3500

3400

3300

3200

3100

3 T

2900

2800

2700

2600

2500

2400

2300

2200

2100

2 T

1900

1800

1700

1600

1500

1400

1300

1200

1100

1 T

900

150 L

1 C

50 L

2890.10

D

D

1-HDFC ASSET MANAGEMENT COM - 10/12/19 F7

Daily

QtyLine

1600

3844

1760

118% in 6 months

General Insurance

Significantly underpenetrated Non-Life Insurance Density/(Premium per capita)

ICICI Lombard

➢ The company commenced operations in FY02 and has built a large franchise by delivering a diverse set ofproducts in the corporate and retail segments. The company’s market share on GDPI basis stood at 8.2%among all non-life insurance insurers and 16.8% among private sector non-life insurers. It became the firstprivate sector non-life insurer in India to reach Rs100bn in GDPI in Fiscal 2017.

➢ Private insurers are gaining market share with ICICI Lombard as the leader among the private firms

➢ Improving profitability in motor segment due to change in regulations – a series of steps taken by the regulatorto drive penetration and bring rationality to competition could lead to acceleration in premium growth. MotorTP insurance stands mandatorily be sold for a period of 3 years and 5 years for 4 wheelers and 2 wheelersrespectively, starting 1st September 2018

➢ Conservative approach towards high growing crop insurance segment.

➢ Lower intensity from PSU players as they focus on profitability.

➢ The company’s better underwriting performance was also supported by its flexibility to enter/exit businesslines based on risk factors. Because of which share of losses incurred from each catastrophic event since FY13has been in the range of 1.5%-6.2%, while I-Lom’s overall market share, by GDPI, has been higher than 7%during the same time period

ICICI Lombard

D 18 29 J18 22 F 15 27 M 22 A 17 27 M 22 J 13 25 J 17 27 A 21 S 14 27 O 23 N 15 28

980

970

960

950

940

930

920

910

900

890

880

870

860

850

840

830

820

810

800

790

780

770

760

750

740

730

720

710

700

690

680

670

660

650

640

630

620

610

600

30 L

25 L

20 L

15 L

10 L

5 L

D

D

1-ICICI LOMBARD GENERAL INS - 10/12/19 F7

Daily

QtyLine

Base Formation

900

ICICI Lombard

D J18 F M A M J J A 31 S O N D J19 F M A M J J A 30 S O N

1520

1500

1480

1460

1440

1420

1400

1380

1360

1340

1320

1300

1280

1260

1240

1220

1200

1180

1160

1140

1120

1100

1080

1060

1040

1020

1 T

980

960

940

920

900

880

860

840

820

800

780

760

740

720

700

680

660

640

620

600

580

560

540

3 C

250 L

2 C

150 L

1 C

50 L

1349.50

D

D

D

D

1-ICICI LOMBARD GENERAL INS - 10/12/19 F7

Weekly

QtyLine

1400

900

55% in 12 months

Life Insurance

➢ Underpenetrated insurance market; India’s position in global insurance sector is a distant 11th position

➢ Economic growth prospects and rising income levels are long term positives for life insurance sector

➢ Life insurance dominate the insurance market in India although non-life recording faster growth

➢ LIC dominates the Life insurance sector of India; Private players making steady inroads

➢ High commissions charged by LIC agents; room for private sector to compete

➢ Capital requirements for life insurers; private players well placed on solvency front

➢ Private insurance players outpacing LIC on AuM growth

➢ Unit linked policies dominate product mix for ICICI Pru; SBI Life & HDFC Life more balanced

➢ Long gestation period to break-even averaging 8+ years hence unviable for foreign insurers which have noother foothold in India and life insurance sector expected shielded and favorable for the local players.

Life Insurance

Life Insurance penetration rate in India (%) Life Insurance premium per capita in India (US$)

HDFC Life Insurance

Quarterly Result

26 M 21 31 J 22 J 16 26 A 20 31 S 26 O 22 N 14 27 D 19 J19 11 23 F 14 26 M 22 A 15 30 M 23

580

570

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

2 C

150 L

1 C

50 L

572.50

D

1-HDFC LIFE INSURANCE COMPA - 11/12/19 F7

Daily


Rectangle ConsolidationBase Formation

410

HDFC Life Insurance

350

Correction

Accumulationat lower levels

M 21 J 22 J 26 A 31 S O 26 N D 19 J19 23 F 26 M A 23 M 29 J J 19 A 26 S O 22 N 26

690

680

670

660

650

640

630

620

610

600

590

580

570

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

8 C

6 C

4 C

2 C

572.50

D

1-HDFC LIFE INSURANCE COMPA - 11/12/19 F7

Daily


646

410

58% in 5 months

HDFC Life Insurance

ICICI Prudential Life Insurance

Quarterly Result

23 J A 30 S O N 24 D J18 30 F M A 30 M J J 24 A S O 24 N D 31 J19 F M 27 A M

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

2 C

150 L

1 C

50 L

490.10

D

DD

D

1-ICICI PRUDENTIAL LIFE INS - 11/12/19 F7

Daily


Bullish InvertedHead & Shoulders

410

380

Correction

Accumulationat lower levels


17 31 N 28 D 24 J19 18 31 F 26 M 26 A 23 M 21 J 17 28 J 24 A 21 S 18 O 16 30 N 26 D

580

570

560

550

540

530

520

510

500

490

480

470

460

450

440

430

420

410

400

390

380

370

360

350

340

330

320

310

300

290

280

270

260

250

240

350 L

3 C

250 L

2 C

150 L

1 C

50 L

490.10

D

D

D

1-ICICI PRUDENTIAL LIFE INS - 11/12/19 F7

Daily


537

380

41% in 5 months


Thank You

152

Symmetrical Triangle

153

D M08 O M09 A J10 J N A11 S F12 J D M13 O M14 A J15 J N A16 S F17 J D M18 O M19

1600

1550

1500

1450

1400

1350

1300

1250

1200

1150

1100

1050

1 T

950

900

850

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

50 C

40 C

30 C

20 C

10 C

1183.75


Monthly

QtyLine

630

230

560 Strong Breakout

960

Height =400

Target = 560 + 400 =

Volumes on breakout

154

Does all time high scare you??

High Volumesindicating buying

130%

• Universal Cables – M – Line chart

• Vol – smart

• Avenue – Future Retail - Vmart

155

Quality of high matters a lot..

143%

ICAI PRESENTATION

Documents