Commodity Research Report – 22nd April 2019

Wipro Ltd has announced the much awaited buyback on last Friday (16th April 2019). For detail please refer to note below. IndiaNivesh View According to IndiaNivesh Research, Annual report filing by the company and the data availability, acceptance ratio in excess of 90% is very likely for the retail shareholders.* Retail investors can lock in decent gains by participating in the buy back. *Retail shareholders are classified as the one’s who hold shares of market value upto 2 lakhs on the record date. *Calculations are made on basis of purchasing 615 shares at cmp of Rs.281. After buyback , remaining shares will be with the shareholder, which is assumed to be sold at CMP of Rs. 281. Other Information about the Buyback Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed Buyback Record date for the buyback is yet to be announced by the company The Entire procedure might take approximate 3/4 months   Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (“INSL”), for use by the recipient as information only and is not for circulation or public distribution. INSL includes subsidiaries, group and associate companies, promoters, employees and affiliates. INSL researches, aggregates and faithfully reproduces information available in public domain and other sources, considered to be reliable and makes them available for the recipient, though its accuracy or completeness has not been verified by INSL independently and cannot be guaranteed. The third party research material included in this document does not represent the views of INSL and/or its officers, employees and the recipient must exercise independent judgement with regard to such content. This document has been published in accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is not to be altered, transmitted, reproduced, copied, redistributed, uploaded or published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from INSL. This document is solely for information purpose and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. 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The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. INSL reserves the right to make modifications and alternations to this statement, as may be required, from time to time. Research Analyst has not served as an officer, director or employee of Subject Company One year Price history of the daily closing price of the securities covered in this note is available at www.nseindia.com and www.economictimes.indiatimes.com/markets/stocks/stock-quotes. (Choose name of company in the list browse companies and select 1 year in icon YTD in the price chart))

MARKET RECAP                                                                   Key Market Data Points After a long weekend, the domestic started yesterday’s session on a pessimistic note amid the on-going nervousness for the results of elections 2019. As the day progressed, selling intensified which forced the benchmarks to close with colossal loss. The index Nifty lost more than 150 points to close below 11600 mark. Meanwhile, the Nifty Bank index too remained under pressure and ended with a loss of more than 500 points. Right from the beginning of the session, market breadth remained strongly in the favour of declining counters. On the sectoral front, except NIFTY IT (+0.44%) all the other group indices closed in red. From the losers, NIFTY REALTY (-2.48%) and NIFTY PSU BANK (-2.45%) stocks remained under limelight. From the F&O space, DHFL (-11.94%), PCJEWELLER (-11.29%) and IBULHSGFIN (-9.21%) were the biggest losers. MARKET OUTLOOK Nifty Daily Chart:    Since last week, we have been stating about booking profits at higher levels in long positions. In line with the same we witnessed strong profit booking in the markets on the back of overbought conditions. The index Nifty yesterday underwent a major move on the downside which was in line with the expectation. However, this kind of magnitude was not expected. Now, at this juncture, the index is trading just above the previous decisive support level of 11550. If this support is held then we might witness a relief rally going ahead. In such scenario, 11700 – 11730 would act as strong resistance in the coming sessions. In case of further downside, breach of 11550 on closing basis might bring the markets into the ‘Sell on Rise’ mode. We continue to advice traders to avoid overleveraged positions and maintain strict stop loss.   Disclaimer)