- ONGC is planning to seek government support for its $6 billion deep water project in the KG basin and is reworking its field development plan to cut costs and boost output as current oil prices have halved and may not make the project commercially feasible. - Technical outlook suggests buying ONGC in the range of Rs. 245-247, targeting Rs. 252 with a stop loss of Rs. 242.50. - Canara Bank has cut its base rate by 0.25% to 9.65% and reported a 40.65% fall in Q1 net profit but a 4.47% rise in total income. - Technical outlook suggests buying Canara Bank in the range of Rs

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Global View
India Update
Today’s Event/ Stock in News
State-run Oil and Natural Gas Corporation (ONGC) is reportedly planning to seek government support for its $6-billion deep water
project in the KG basin. The company is also reworking its field development plan to trim capital spending and boost output to make the
project work at the current oil prices. ONGC is ever more convinced that the project, KG-DWN-98/2 field off the eastern coast, may not
be commercially feasible at the current oil prices, which have more than halved in a year to about $45 a barrel. ONGC is an Indian
multinational oil and gas company headquartered in Dehradun, India. It is India's largest oil and gas exploration and production
company.
Technical Outlook : Recently, the stock has given breakout of its consolidation range of 219.60 to 244.70 levels on daily chart. Apart from
this, stock has formed big bullish candlestick with above average volumes, which indicating for accentuate buying was seen and further
upside movement can be seen in few trading session. Moreover, prices have been trading above 21 DEMA on daily chart, which shows
short term trend is up. The momentum indicator RSI has given breakout of its downward falling trend line which point out for positive
breath in the stock. So for trading perspective, one could Buy in the range of 245-247 for the Target of 252 with the SL of 242.50.
Canara Bank has received its board's approval for reduction in the Base Rate by 25 bps from 9.90% to 9.65% for loans / advances
effective from October 07, 2015. The bank has reported 40.65% fall in its net profit at Rs 478.84 crore for first quarter ended June 30,
2015 as compared to Rs 806.86 crore for the same quarter in the previous year. However, total income of the bank has increased by
4.47% at Rs 12252.64 crore for quarter under review as compared to Rs 11728.01 crore for the quarter ended June 30, 2014.
Technical Outlook: On daily chart, recently price has taken support of its rising trend line at 253.40 levels. Beside, price has trading above
60 DEMA on daily chart, which indicating for short medium term is up. The momentum indicator RSI has moved above 40 levels on daily
chart which point out for positive breath in the stock. So for trading perspective, one could Buy in the range of 294-296 for the Target of
302 with the SL of 291
ONGC
CANBK
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Morning Tea
07th Oct 2015
Buy in the range of 294-296 for the Target of 302 with the SL of 291
Buy in the range of 245-247 for the Target of 252 with the SL of 242.50
USstocksfellonTuesday,endingafive-daywinningstreak,asinvestorsfocusedonupcomingquarterlyreportsthatareexpectedtoreflectadipincorporateearnings.
A surge in DuPont's stock helped keep the Dow Jones industrial average in positive territory but the S&P 500 and Nasdaq lost ground, with a sharp drop in biotech
stocks. The International Monetary Fund cut its global growth forecasts for a second time this year, citing weak commodity prices and a slowdown in China.
Underscoring concerns about the world economy, S&P 500 companies are expected to report a 4.2-percent fall in earnings in upcoming third-quarter reports, the
biggestdeclineinsixyears,accordingtoThomsonReutersdata.TheDowJonesindustrialaverageedgedup0.08percenttoendat16,790.19points.TheS&P500lost
0.36percentto1,979.92andtheNasdaqCompositedropped0.69percenttofinishthedayat4,748.36.
Asian stocks held firm on Wednesday as a sharp rebound in oil prices supported battered resource shares and emerging economy currencies,
while Japanese markets were tentative ahead of a crucial Bank of Japan policy meeting. MSCI's broadest index of Asia-Pacific shares outside
Japan gained 0.2 percent, led by a 0.4 percent rise in South Korea. Japan's Nikkei was almost flat ahead of the Bank of Japan policy
announcement later in the day. Although a string of weak Japanese economic data has raised speculation of fresh stimulus from the BOJ, most
market players believe governor Haruhiko Kuroda would prefer to sit tight for now. Data on Friday showing a surprisingly soft reading on US
jobs led many investors to scale back their expectations that the Federal Reserve would raise interest rates this year. That in turn has supported
riskier assets which had come under pressure partly on worries the Fed would tighten policy at a time of cooling growth in China and globally.
The Hang Seng index traded at 0.76 % to 21998.09, Japan's benchmark Nikkei 225 index traded at -0.17% to 18155.58, South Korea's Kospi index
up by 0.48 % to 2000.27 levels. The SGX Nifty suggests a flat opening for our markets as it is trading at 8165.

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Bulk Deal
Corporate Action / Result Calendar
SEBI Certified – Research Analyst www.choiceindia.com
Morning Tea
Corporate Action:
Bata India Limited; Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share
IL&FS Transportation Networks Limited; Rights 1:3 @ Premium Rs.80/- Per Share.
Result Calendar:
BAJAJCORP
07th Oct 2015
Security in Ban
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Sr.No Deal Date Security Code Security Name Client Name Deal Type Quantity Price
1 6/10/2015 513361 ISWL CRESTA FUND LIMITED S 8400000 2.62
2 6/10/2015 513361 ISWL ERISKA INVESTMENT FUND LTD B 8400000 2.62
3 6/10/2015 533304 CMAHENDRA CRESTA FUND LTD S 3621732 2.22
4 6/10/2015 533304 CMAHENDRA LTS INVESTMENT FUND LTD B 3621732 2.22
5 6/10/2015 500117 DCW LOTUS GLOBAL INVESTMENTS LIMITED B 1375000 20.90
6 6/10/2015 500117 DCW CRESTA FUND LIMITED S 1375000 20.90
7 6/10/2015 532387 PNC ERISKA INVESTMENT FUND LTD B 1000000 16.00
8 6/10/2015 532387 PNC CRESTA FUND LIMITED S 1000000 16.00
9 6/10/2015 530967 KYRALANDS INVENTURE GROWTH & SECURITIES LTD. B 926975 0.83
10 6/10/2015 530967 KYRALANDS INVENTURE GROWTH & SECURITIES LTD. S 746975 0.84

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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Ritesh Patel Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
07th Oct 2015
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt
Ltd., ou=Research Dept.,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2015.10.07 08:46:12 +05'30'