TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : The Market has Opened Positive on Monday with the 50 shares Index

Nifty 50 was up 23 points or 0.26 per cent at 8564. The domestic equity Indices remained

cautiously positive amid the kick start of the monsoon session of parliament kicks. There

are hopes that much awaited Goods and Services Tax bill will finally see light of the day.

The Market stay positive thanks to upbeat economic data and the beginning of the Earning

Season on a positive note. The Morgan Stanley hope the Reserve Bank of India may cut

the key rate by 50 bps point in current fiscal on the back of inflation is expected to fall at

4.6 per cent. The Foreign Direct Investment October last year and may this year grew 46

percent to $ 62 billion after the launch of make in India programme according to report.

The immediate trend of the market quite strong and may remain intact till the momentum

does not fizzle out below 8480-8450 zone decisively. The Crucial levels for Nifty is 8590-

8640 up side and 8450-8480 is down side.

BANK NIFTY : - The Bank Nifty has opened in a Positive note on Monday up by 45

point or 0.24 percent at 18998. The Government has provide Rs. 22,915 crore of capital to

state run banks. Infusing Fund early in the Financial Year, as it look the boost lending and

shore up the Economic Growth. The biggest beneficiary of the capital allocation is State

Bank of India which gets nearly a third of the amount up-to Rs. 7,575 crore. According to

Fitch Rating report Indian Banks will need $ 90 billion in total additional Funds to meet

Global Capital Adequacy norms by 2019. Bad loans of the State Run Banks is Expected to

go up 10.1 per cent for the Current fiscal the Minister of State Finance Santosh Kumar

quoted as saying on Financial Stability Report. The Bank Nifty is Seems Positive for next

week it has Formed the Bullish Candle on daily chart. The Crucial levels for Bank Nifty is

19150-19280 up side and 18750-18615 down side.

Monday, 25 July 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8694 8582 8526 8470 8358

WEEKLY R2 R1 PP S1 S2

8862 8644 8535 8426 8208

MONTHLY R2 R1 PP S1 S2

9392 8780 8474 8168 7556

BANK NIFTY

DAILY R2 R1 PP S1 S2

19199 18839 18659 18479 18119

WEEKLY R2 R1 PP S1 S2

20612 19404 18800 18196 16988

MONTHLY R2 R1 PP S1 S2

22333 19837 18859 17341 14845

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8312 8149 7870 7828

BANK NIFTY 18016 17541 16581 16583

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 7984 7051 6501

BANK NIFTY 17465 16586 16335

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the Above given daily Chart of Nifty has Applied the Bollinger Band Along with

Parabolic SAR, both the indicators give the early indication of Bullish or Bearish trend of

the market. The uses of Bollinger Band varies from traders to traders Some buy when it

break the middle Band on upper Side and some buy after the break out of Upper band

from down respectively. On the Above given Chart of Nifty earlier it has touched the

Upper Band but was not able to break the level of strong resistance of 8600. Now it

seems that trend has reverse into the bear in the Daily Chart has Formed the Bearish

Engulfing candle which is also the signal of market reversal. If the Nifty is able to Sustain

the 8480 level we could see some positive trend for upcoming week, break below 8480

could touch the level of 8400 in upcoming week. The Crucial levels for Nifty is 8480-

8350 down side and 8580-8640 is Upside.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given Chart of Bank Nifty has Applied the Bollinger Band along with the

Parabolic , both the indicators give the early indication of Bullish or Bearish trend of the

market. Thus uses of Bollinger Band varies from traders to traders Some buy when it

break the middle Band on upper Side and some buy after the break out of Upper band

from down. On the above given Chart we could see that the price is near the middle Band

if it is able to sustain the middle Band level it could lead the Bank Nifty in bull side in

upcoming week. Break below middle Band which is around 18650 could lead the Bank

Nifty toward the level of 18400 in Near-Term the crucial level for Bank Nifty is 18650-

18470 down side and 18950-19200 is Upside.

NSE EQUITY DAILY LEVELS

COMPANY

NAME

R2 R1 PP S1 S2

ACC EQ 1713 1697 1687 1671 1661

ALBK EQ 76 74 73 72 71AMBUJACEM EQ 269 266 264 261 259ASIAN PAINT EQ 1059 1051 1047 1039 1035

AXISBANK EQ 551 544 538 531 525BAJAJ-AUTO EQ 2784 2755 2737 2708 2690

BANKBARODA EQ 155 152 151 148 147BANKINDIA EQ 109 107 106 104 103

BHEL EQ 143 142 140 139 137BHARTIARTL EQ 371 369 366 364 361

CIPLA EQ 526 523 517 514 508COALINDIA EQ 335 333 331 329 327

DLF EQ 161 160 156 155 151DRREDDY EQ 3668 3633 3606 3571 3544

GAIL EQ 407 402 396 391 385GRASIM EQ 4999 4952 4901 4854 4803HCLTECH EQ 734 732 726 724 718

HDFC EQ 1369 1359 1343 1333 1317HDFCBANK EQ 1241 1236 1228 1223 1215

HEROMOTOCO EQ 3297 3281 3266 3250 3235HINDALCO EQ 141 138 134 131 127

HINDUNILVR EQ 923 912 905 894 887ICICIBANK EQ 268 265 262 259 256

ITC EQ 260 255 251 246 242INDUSIND BANK EQ 1153 1148 1139 1134 1125

INFY EQ 1085 1079 1072 1066 1059JINDALSTEL EQ 72 70 69 67 66KOTAKBANK EQ 770 764 759 753 748

LT EQ 1593 1583 1568 1558 1543M&M EQ 1451 1446 1442 1437 1433MRF EQ 34889 34532 34333 33976 33777

MARUTI EQ 4468 4442 4424 4398 4380ONGC EQ 226 225 222 221 218

ORIENTBANK EQ 115 113 111 109 107RCOM EQ 54 52 51 49 48

RELCAPITAL EQ 418 413 406 401 394RELIANCE EQ 1024 1018 1012 1006 1000RELINFRA EQ 572 567 557 552 542RPOWER EQ 53 52 52 51 51

SBIN EQ 228 225 224 221 220SSLT( VEDL) EQ 182 176 165 159 148SUNPHARMA EQ 802 794 788 780 774TATAMOTORS EQ 518 512 503 497 488TATAPOWER EQ 74 73 72 71 70TATASTEEL EQ 375 371 363 359 351UNIONBANK EQ 132 129 127 124 122

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS)

Cash Pack

NSE CASH : BUY INFRATEL NSE CASH ABOVE 370 TGT 390 SL 360.

NSE CASH : BUY IDEA NSE CASH ABOVE 108 TGT 115 SL 105.

Future Pack

NSE FUTURE : SELL YESBANK FUTURE BELOW 1150TGT 1130 SL 1160.

NSE FUTURE : BUY UNION BANK FUTURE ABOVE 131 TGT 135 SL 129

NSE FUTURE : SELL KOTAKBANK FUTURE BELOW 750 TGT 740 SL 755.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 BANK BARODA 164 150-8.25 %

2 AXIS BANK LTD. 565 537-4.84 %

3 HUL 941 903-4.07 %

4 IDEA CELLULAR 111 106-3.96 %

5 SBIN 231 223-3.46 %

6 ONGC 230 222-3.39 %

7 BHARTI AIRTEL 378 367-3.05 %

8 WIPRO LIMITED 554 537-3.02 %

9 TATA STEEL 372 365-2.00 %

10 YES BANK LTD 1179 1156-1.91 %

11 M&M 1464 1440-1.66 %

12 ZEEL 471 464-1.58 %

13 KOTAK BANK 772 760-1.57 %

14 MARUTI SUZUKI 4472 4414

-1.28 %

15 BHEL 142.60 140.90 -1.19 %

SR.NO SCRIPT NAME PREV CLOSE

CMP % CHANGE

1 BHARAT PETRO 554 583+5.18 %

2AURO PHARMA 761 796 +4.56 %

3 ACC 1613 1683+4.34 %

4COAL INDIA LTD 318 331 +3.81 %

5 ULTRATECH CEM 3531 3640+3.08 %

6TATA MOTORS 494 507 +2.80 %

7 TCS 2445 2513+2.78 %

8ADANI PORTS 220 225 +2.20 %

9 BHARTI INFRAT 353 360+2.17 %

10ASIAN PAINTS 1025 1047 +2.06 %

11 SUN PHARMA 770 786+2.02 %

12POWERGRID COR 164 167 +1.86 %

13 AMBUJA CEMENT 260 265+1.86 %

14LUPIN LIMITED 1670 1700 +1.79 %

15 HCL TECH 717 728+1.57 %

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

Government Forgoes Rs. 17.15 lakh crore revenue due to tax incentives - A total of

Rs 17,15,461 crore revenue has been foregone by the government due to tax incentives in

the last three financial years, Parliament was informed today.

The amount foregone is estimated at Rs 93,047 crore in 2013-14; Rs 1,18,593 crore in

2014-15; and Rs 1,28,639 crore in 2015-16, Minister of State for Finance Santosh Kumar

Gangwar said in a written reply to Rajya Sabha. Likewise, the amount forgone Indirect

Tax is estimated at Rs 4,56,937 crore in 2013-14, Rs 4,35,756 crore in 2014-15; and Rs

4,82,489 crore in 2015-16. Gangwar said Rs. 13,03,344.61 crore was allocated for food

subsidy in 2016-17 and so far Rs 57,333 crore has been released.

Textile Sector to grow at 6 per cent to $ 40 billion in FY 2017 - After witnessing a de-

growth of 2 per cent in FY 2016, textile exports is expected to grow at 6 per cent to $ 40

billion in FY 2017, driven by the expectations of growth in the apparel segment and

higher Fibre prices, says ICRA in its research update on the Indian textile industry.

According to Anil Gupta, VP, Corporate Sector Ratings, ICRA Ltd "Despite volume

growth in most of the segments, de-growth in the value of textile exports during FY2016

was driven by lower Fibre prices. For FY2017, while raw-cotton export is expected to

decline, however, other segments, especially apparels, shall see positive volume growth,

especially due to improved export competitiveness supported by the recent financial

package for the textile industry."

Government not in favour of any fresh exemptions for new Japanese industrial

enclaves - With the government keen to weed out exemptions and lower the corporate tax

rate to an internationally comparable 25%, it is not willing to give any fresh ones. As a

result, the proposed Japanese enclaves for industries have hit a tax wall with the revenue

department making it clear that it cannot offer sops against its overall philosophy of

ending them. This issue figured in an inter-ministerial meeting called by Niti Aayog, said

a government official aware of the matter. "The revenue department is not in favour of

taking up any fresh exemptions," the official said. The final decision will be taken at the

highest level. The industrial townships are envisaged as integrated industrial parks with

ready made operational platforms having world-class infrastructure, plug-and-play

factories and investment incentives for Japanese firms. This is part of the Japanese

government's initiative to double investments in India to about $35 billion in the next five

years and strengthen bilateral economic ties. The government has already unveiled its

plan to remove corporate tax exemptions and bring down the rate to 25%.

India tops chart in financial inclusion progress: BCG - India has topped the chart

denoting the progress made by countries on the financial inclusion front as around 20

crore people have "gained access" to financial services, according to a report by global

consultancy firm BCG. However, the report said India and several other countries are not

effectively converting their economic growth into well-being improvements for their

citizens. "India also produced strong ...improvements but converted its strong growth into

well-being at a rate slightly below average," the Boston Consulting Group today said in

its report titled 'The Private-Sector Opportunity to Improve Well-Being: The 2016

Sustainable Economic Development Assessment'. The report noted that India also leads

the pack in progress on financial inclusion as nearly 200 million people have gained

access to financial services.

Growth in external private debt makes emerging economies vulnerable: Moody's -

The growth in debt levels over the decade-mainly driven by private debts makes

emerging market economies vulnerable to external shocks, global credit rating agency

Moody's Investors Service has said in a report. According to the report titled 'The

Evolution of Emerging Markets External Debt: Private Sector Debt Drives Broad-Based

Build-Up of Emerging Markets External Vulnerability Risks', the debt growth was

highest in the Asia-Pacific region. The largest increase were reported in external

borrowings in China, India, Indonesia, Taiwan and Malaysia, Moody's said. Driven by

growth in private debt in China, India and Indonesia, debt levels in the Asia-Pacific

region have grown at an average rate of 13.5 per cent, the report said.

States collect Rs 27,000 crore construction cess; spend Rs 5,600 crore - States and

Union Territories, which have collected Rs 26,962.18 crore as construction cess, had

spent only Rs 5,684.8 crore till March end this year, Labour Minister Bandaru Dattatreya

said today. In a written reply to the Rajya Sabha, the minister further said: "The

responsibility of collecting cess and its utilization for welfare of workers lies with the

respective state governments/UT administrations and state Building and other

Construction Workers' Welfare boards." Under the Building and Other Construction

Workers' Welfare Cess Act 1996, realty developers are required to pay cess of 1 per cent

of the total cost of construction incurred by the employer. The cess is levied for

augmenting the resources of the Building and Other Constructions Workers Welfare

Board.

FDI surges after 'Make in India', up 46% at $ 62 billion - Foreign direct investment

during October 2014 and May this year grew 46 per cent to USD 61.58 billion after the

launch of Make in India programme, Parliament was informed today. The initiative was

launched in September 2014 with an aim to promote India as an important investment

destination and a global hub for manufacturing, design and innovation. "During October

2014 to May 2016, FDI equity inflow has increased by 46 per cent i.e from $42.31 billion

to $61.58 billion in comparison to previous 20 months ," Commerce and Industry

Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

India's GDP growth to expand about 8% in next two years: S&P - S&P Global

Ratings has said the India story is "pretty solid" and praised the government's "long

game" handling of the economy to push up growth potential while giving attention to

immediate issues as well. Its forecast of 8% growth for the current financial year and the

next is, however, contingent on the government taking certain measures, including a

"wise choice" to head the Reserve Bank of India, the American ratings agency said.

Raghuram Rajan's three-year term as governor ends on September 4. "That view is

predicated on the steady, ongoing structural reform push including GST passage, a good

monsoon season this year, and a wise choice to head the Reserve Bank," S&P said in its

latest 'APAC Economic Snapshots' report released on Thursday.

✍ TOP ECONOMY NEWS

The Index of Mineral Production in the mining and quarrying sector grew 1.3% in May

2016 as compared to the same month last year to 129.5 with the total value of mineral

production being USD188.09bn.

Banks and financial institutions have sanctioned about Rs788.30bn funding for clean

energy projects, of which Rs334.83bn has been released till March end this year.

Indian life insurance industry closed the first quarter of the current fiscal with a new

business premium of Rs. 313.9 billion, logging a growth of 33.2%.

Cancelling a flight or denying boarding to a flier is going to cost heavily to domestic

airlines as the new guidelines by the aviation regulator DGCA provides for massive

compensation in such cases.

The government’s decision that oil producers would have to pay royalty to crude oil

producing states such as Assam, Gujarat, Andhra Pradesh, Rajasthan and Tamil Nadu at

pre-discount rates.

Exports rose by 1.27%, to USD22.57bn in June, against USD22.28bn in June 2015.

Imports, however, declined by 7.33% to USD30.66bn in June as compared to the year

ago period, when it was USD33.11bn.

Petrol price was cut by Rs2.25/l and diesel by 42p/l, the second reduction in rates this

month on global cues.

The Finance Ministry has imposed definitive anti-dumping duty on Plain Medium

Density Fibre Board imports from Vietnam and Indonesia.

Labour Minister Bandaru Dattatreya has said the Employees Provident Fund

Organisation may invest up to 12% of its Investable amount in equities over a period of

time.

Government fixed Rs3,119/g as the issue price for the 4th tranche of Sovereign Gold

Bonds scheme which opens for subscription.

The National Green Tribunal’s order to de-register diesel vehicles older than 10 years

plying in Delhi has again brought to the fore the difficulties of controlling ageing vehicles

in the country without a comprehensive scrappage policy.

The department of telecommunications has started issuing notices to six Telecom

operators for under-reporting revenues during 2008-09.

The National Highways Authority of India is in talks with LIC and the Employees

Provident Fund Organisation for fund mobilization.

The Centre has decided not to raise the foreign direct investment limit on newspapers and

periodicals to 49% from 26%.

Wind power producers are facing problems over payments and demand that affect close

to 11000 MW, or 40% of the wind power generating capacity in the country.

The Centre has released more than Rs. 280 billion so far this year to States under

MGNREGA to clear the last year’s liabilities and for running the programme in the

ongoing year.

Undisclosed income of Rs. 438.29 billion, both from domestic and foreign sources, has

been detected by government in the last two financial years.

There are 8,167 willful defaulters who owe banks an amount of Rs. 766.85 billion and

1,724 FIRs have already been filed in 2015-16.

✍ TOP CORPORATE NEWS -

BHEL has commissioned another 250 MW unit based on eco-friendly Circulating

Fluidised Bed Combustion technology, using low quality coal lignite as the primary fuel.

Idea Cellular slashed mobile internet rates to offer more value to the customers on their

4G, 3G and 2G data packs.

Tata Motors Limited will seek shareholder's approval at the upcoming annual general

meeting to raise Rs. 30 billion through non-convertible debentures this year.

Infosys has relaunched its employee stock option plan for junior to middle level

management staff.

Biocon limited has begun selling biosimilar insulinGlargine in disposable pens in the

second-largest market for insulin outside of the US and Europe.

Oil and Natural Gas Corporation or ONGC is seeking buyers for gas from a new

deepwater field in the KG Basin, which will be the first to supply under the new policy

that allows companies to charge a much higher rate for output from challenging fields.

Hero MotoCorp will phase out its Maestro, Impulse, Ignito and Passion XPro — the

models it had acquired under a licensing agreement with former partner Honda — by the

end of the current fiscal.

Ashok Leyland will be setting up a bus assembly plant in Kenya with an investment of

Rs. 700 million as part of its global expansion plans.

Reliance Industries is on the verge of starting commercial production of natural gas from

its coal-bed methane blocks in Madhya Pradesh.

Punjab & Sind Bank has paid Rs. 526 million dividend to the government for financial

year 2015-16.

Bharti Airtel has completed the sale of its subsidiary in Sierra Leone to France's Orange,

after having completed the sale of its unit in Burkina Faso to the same company in June.

Reliance Industries will infuse another Rs.150 billion in its telecom arm Jio through a

rights issue.

UltraTech Cement Limited is expected to complete its acquisition of Jaiprakash

Associates' cement plants within the next one year.

The government has ordered an enquiry into "operation and mismanagement" of Shree

Maheshwar Hydel Power Corp even as promoter Mukul Kasliwal and lender Power

Finance Corporation Limited trade charges of serious lapses that delayed and derailed

the country's first private hydropower venture.

Reliance Communications has incorporated an investment firm in the Netherlands in the

name of Aircom Holdco BV.

Sun Pharma, Glenmark and Aurobindo Pharma has received final approval from the US

health regulator USFDA for rosuvastatin calcium tablets, used in lowering cholesterol.

DLF Limited and Ridgewood Holdings Limited have realigned current shareholding

arrangement in their joint venture companies.

Mangalore Refinery and Petrochemicals Limited has announced lining up projects,

including a raw petroleum coke gas complex, worth Rs. 150 billion in the coming years.

BHEL has commissioned third unit of the 4x40 MW Teesta Low Dam hydroelectric

project stage-IV in West Bengal.

State Bank of India, has signed a Memorandum of Understanding with Brookfield Asset

Management to collaborate on investments in stressed assets.

Jindal Steel and Power Limited will move an ‘appropriate forum’ in connection with

the notice served by the Chhattisgarh government for recovering alleged excess payment

made against power purchased from the company.

Lupin Limited has launched its generic oral contraceptive Norgestimate and ethinyl

estradiol tablets in the American market after receiving nod from the US health regulator.

M&M Limited launched a new mild hybrid version of its new generation Scorpio priced

between Rs. 0.97 million and Rs. 1.40 million.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Yes Bank Limited is taking a bold bet on Nirma while negotiating to bankroll a lion's

share of funding required to complete the Rs. 94 billion acquisition of Lafarge's Indian

assets.

Bad Loans of the state owned Banks are likely to go up further to 10.1 per cent by the end

of current fiscal Minister of State Finance Santosh Kumar Said While Quoting on

Reserve Bank of India Financial Stability Report.

There are 8167 willful defaulter who owe Bank’s an Amount of Rs. 76,685 crore and

1724 FIR have already been filed in 2015-16 According to Government Report.

Government has Allocates Rs. 22,915 crore capital to state run Banks front loading the

Capital infusion to ensure Banks are able to step up credit, The State Bank of India has

got the Maximum Rs. 7,575 crore followed by Indian Overseas Bank, That got Rs. 3,101

crore of fund from Government “ The Capital Infusion exercise for the current year is

based on an assessment of need as assessment from the CAGR of credit Growth for the

last five years. Banks own Projections of credit Growth and on objectives Assessment of

the potential for growth of each Public Sector Bank’s The Ministry of Finance said in a

Statement.

Constrained by capital Public Sector Banks to see a lower loan Growth between 2016-17

and 2018-19. Clocking about 5 percent India Ratings, a local arm of US Headquartered

credit rating Fitch said in a research report. The reduced credit availability could restrict

Fund supply needed for a pick up in Economic Growth. However a moderation in credit

growth of Public Sector Banks is likely to start impacting the Nominal GDP pick up for

2018-18 and 2018-19.

Federal Bank has signed an Agreement with reliance Jio money for one-click Payment

service. Reliance Jio Money is a Wallet Application that will be launched soon for mobile

devices, where Federal Bank will enable a direct payment option for its customers.

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