TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The Equity benchmark Nifty 50 has opened in a flat note on
Monday up by 11 points or 0.12 percent at 8583. On Monday the Nifty has took Support around 8540 and bounced back from there and closed at 8607. Market have been stuck in the trading range of 8540 to 8730 for almost a month, Now we expect that we could get clarity on breakout or breakdown in the upcoming week. Federal Reserve Chair Jennet Yellen’s speech reflected optimism over the economy and an expectation that interest rate hikes are near. The Nifty is Still in a broad range with upside resistance of being at 8820-8880 and Support at 8650-8620. There are no major Events lined up, the Nifty is expected to trade in narrow range. The Nifty is still holding bullish Pattern with a bit of pause for previous session for the further high. The Significance Resistance level for Nifty is 8800-8850 and Support level is 8650-8600.
BANK NIFTY : - The Bank Nifty opened in a Negative note on Monday down
by 21 points or 0.10 per cent at 19174. Bank Nifty has traded in a very broad range of 600-700 points in this week. Amid rising Net Performing Assets, Reserve Bank of India asked banks to put in place clear policies for sale of the stressed assets to Securitization and Reconstructions and firms and secure two external valuation Purpose in case the exposure tops Rs. 50 crore. The Bank Nifty has managed to Close the level of 19800, which is a crucial Support for Bank Nifty. The near term Bank Nifty would witness the level of 20150-20200. The Significance Resistance levels for Bank Nifty is 1985020150 and Support is 19750-19600.
Monday, 05 September 2016
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
8966
8858
8804
8750
8642
R2
R1
PP
S1
S2
9562
9006
8728
8450
7894
R2
R1
PP
S1
S2
8987
8863
8801
8739
8615
R2
R1
PP
S1
S2
20205
19973
19857
19741
19509
R2
R1
PP
S1
S2
22127
20465
19634
18803
17141
R2
R1
PP
S1
S2
20414
20036
19847
19658
19280
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
NIFTY
8687
8546
8332
8147
BANK NIFTY
19335
18814
18115
17538
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8400
7269
7054
BANK NIFTY
18068
14700
14129
200 DAYS
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. Along with that the Nifty dalily Chart is Froming the Bullish Pattern Pattern Which is the Continuous trend Signal. As we have seen in last week the Nifty is traded in the broad range of 8650-8900 Levels. Now it seems that trend could be continue into the bullish Side in the Daily Chart has Formed the Bullish candle which is also the signal of bull market. If the Nifty is able to Sustain the levels of 8700-8750 level we could witness the level of 8900-8950 in near Term. Move Toward the 8600 levels in upcoming will lead the Nifty to break the level of 8480-8300. The Crucial levels for Nifty is 8580-8680 down side and 8880-8900 is Upside.
PATTERN FORMATION ( BANK NIFTY )
Detail of Chart - In the Above given Chart of Bank Nifty has Applied the Bollinger Band along with the Parabolic , The USage of bollinger Band differ from Trader-toTrader indication of Bullish or Bearish trend of the market respectively. Thus the Bank Nifty Chart also formed the Bullish Engulfing Kind of Pattern which is a bullish signal for market, from this Point we are Expecting if the trend continue for Upcoming week and it could touch the level of 19950-20250 in Near-Term. If we look into the Fundmaentals of Bank Nifty the P/E of Bank Nifty is arounf 24 which is the overbought Territory and could seen the Bearish Movement for Upcoming time. The Crucial Levels for Bank Nifty is 19450-19860 up side and 19063-18872 Down side.
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
S1
S2
ACC
EQ
1708
1688
1677
1657
1646
ALBK AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BANKINDIA BHEL BHARTIARTL CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY JINDALSTEL KOTAKBANK LT M&M MRF MARUTI ONGC ORIENTBANK RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ
85 281 1184 606 3070 169 119 138 329 587 339 153 3171 401 4701 791 1454 1292 3645 160 930 266 265 1202 1046 85 819 1527 1501 40144 5256 243 125 52 561 1046 638 53 257 177 794 557 80 379 143
85 278 1176 603 3034 168 117 137 324 582 336 151 3147 399 4659 787 1446 1288 3614 159 925 263 262 1196 1038 83 816 1515 1485 39522 5210 240 124 50 551 1029 625 52 256 174 787 554 79 376 141
83 276 1163 598 2979 164 116 136 315 577 333 150 3114 393 4598 783 1434 1284 3582 156 921 262 262 1189 1032 82 812 1501 1460 38379 5143 238 123 49 539 1016 604 52 253 171 778 551 78 373 139
83 273 1155 595 2943 163 114 134 310 572 330 148 3090 391 4556 779 1426 1280 3551 155 916 259 260 1183 1024 80 809 1489 1444 37757 5097 235 122 47 529 999 591 51 252 168 771 548 77 370 137
81 271 1142 590 2888 159 113 133 301 567 327 147 3057 385 4495 775 1414 1276 3519 152 912 258 259 1176 1018 79 805 1475 1419 36614 5030 233 121 46 517 986 570 51 249 165 762 545 76 367 135
TOP 15 ACHIEVERS SR.NO
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
PREV CLOSE
SCRIPT NAME
CMP
TATA MOTORS
503
549
HERO MOTOCORP
3304
3577
ULTRATECH CEM
3803
4085
ICICI BANK
245
261
L&T
1427
1505
ZEEL
506
533
HDFC
1366
1439
BANK BARODA
158
166
BAJAJ AUTO LTD.
2858
2998
MARUTI SUZUKI
4920
5160
YES BANK LTD.
1326
1388
GAIL LTD.
378
395
TATA POWER
75
79
KOTAK BANK
780
813
ADANI PORTS
257
268
// % CHANGE
SR.NO
+9.15 % +8.26 % +7.41 % +6.52 % +5.45 % +5.42 % +5.33 % +5.09 % +4.89 % +4.87 % +4.66 % +4.53 % +4.29 % +4.20 % +4.07 %
1 2 3 4 5 6 7 8 9 10 11 12 13 14
15
TOP 15 LOOSERS SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
KAVERI SEED
373
327
-12.37 %
IDEA CELLULAR
93
84
-10.11 %
RCOM
53
49
-8.71 %
CYIENT LTD.
523
481
-7.95 %
GATI LIMITED
148
138
-7.03 %
UTTAM SUGAR
52
48
-6.72 %
DLF LIMITED
159
150
-6.07 %
TORRENT POWER 193
181
-6.04 %
NESTLE INDIA
6831
6439
-5.73 %
RAMCO SYSTEM
512
484
-5.60 %
BALRAMP CHIN
108
102
-5.38 %
ASHOK LEYLAND 87.70
83.00
-5.36 %
EID PARRY
248
235
-4.95 %
BHEL
139
136
-2.40 %
RELIANCE
1027
1013
-1.42 %
NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS ) NSE FUTURE NSE FUTURE
:
BUY AMARAJABAT FUTURE ABOVE 992 TGT 1010 SL 982.
NSE FUTURE
:
BUY APOLLOTYRE FUTURE ABOVE 195 TGT 200 SL 192.50
NSE FUTURE
:
BUY PETRONET FUTURE ABOVE 360 TGT 370 SL 355
NSE CASH NSE CASH
:BUY TITAN NSE CASH ABOVE 421 TGT 450 SL 412.
NSE CASH
:BUY SCI NSE CASH ABOVE 74.50 TGT 80.50 SL 71.50.
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK India's Q1 FY17 GDP at 7.1% vs 7.5% Year-on-Year - The Central Statistics Office, Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product for the first quarter Q1, of 2016-17, both at constant and current prices, along with the corresponding quarterly estimates of expenditure components of the GDP. Estimates Of GVA By Economic Activity At constant prices3. GDP at constant prices in Q1 of 2016-17 is estimated at Rs. 29.17 lakh crore, as against Rs. 27.24 lakh crore in Q1 of 2015-16, showing a growth rate of 7.1 percent. Quarterly GVA at Basic Price at constant prices for Q1 of 2016-17 is estimated at Rs. 27.38 lakh crore, as against Rs. 25.51 lakh crore in Q1 of 2015-16, showing a growth rate of 7.3 per cent over the corresponding quarter of previous year. Fiscal Deficit: April-July Revenue receipts stand at Rs. 2.56 lakh crore - The April-July Fiscal Deficit stands at Rs.3.93 lakh crore versus Rs. 3.85 lakh crore of the budgeted target for the fiscal year ending in March 2017, as per government data. Government data says that Revenue deficit in same period is Rs.3.3 lakh crore, 93% of FY17 estimate, while Non-tax revenue stood at Rs.34,098 crore. Total receipts of the government during the four months was Rs. 2.63 lakh crore or 18.2% of the estimates for the current year. Total expenditure of the government during April-July was nearly Rs. 6.57 lakh crore, or 33.2% of the entire year estimates. Of the total expenditure, plan spending was over Rs.1.98 lakh crore and non-plan was over Rs. 4.59 lakh crore. The Government to now focus on Increasing the Banks “ability to Support Growth : FM The Finance Minister said that all these legislations along with different structural reforms made by the Government in the last two years will help in boosting the growth and the overall development of the country. Arun Jaitley The Union Finance Minister, said that Indo-US trade will get a boost due to business to business, business to Government and Government to Government interaction between the two countries. The Finance Minister said that foreign investment is important for India in order to have larger investment in infrastructure sector. Jaitley said that the Government will now focus on increasing the banks’ ability to support growth. The Finance Minister was speaking when the members of the visiting US CEOs Forum called on him in his office here today. The Finance Minister further said that enabling Constitution Amendment Bill relating to Goods and Service Tax has been recently approved unanimously by both the Houses of Parliament. Besides it, the Bankruptcy Code has also been approved. The Finance
Minister said that all these legislations along with different structural reforms made by the Government in the last two years will help in boosting the growth and the overall development of the country. RBI Governor argues for Independent Central Bank for macroeconomic stability of the country - In his last public speech as the RBI Governor , Dr. Raghuram G. Rajan explained why central banking was not as easy as it appeared - just raising or cutting interest rates - and why it needed decisions, sometimes unpopular or hard-to-explain ones, to be made under conditions of extreme uncertainty and argued in favour of having an independent central bank and the role and responsibilities of the central bank governor. The central bank governor has to make difficult policy choices often in the face of uncertainties after weighing the alternatives as best as one can. He cited the example of 2013, when due to weak macro fundamentals the rupee tumbled and it was necessary to get back the confidence of international investors and how he, who had just taken over as the Governor of the Reserve Bank of India, had to decide on introducing the FCNR scheme in the midst of uncertainties. That the decision proved to be beneficial for the country, the Reserve Bank and the banks, taught him that "Policy making invariably involves taking measured risks in the face of uncertainty." He then made out a case for India to have a strong and independent central bank so that it could ensure macroeconomic stability. High growth rate mandatory for collective well being: Arun Jaitley - A high growth rate is a requisite if the benefits of growth are to percolate down to the last man, especially minorities. Post 1991 economic liberalization, the acceleration of growth rate has led to substantial reduction in poverty. All communities have shown reduction in poverty levels, however on an uneven basis, says Union Finance Minister, Arun Jaitley, speaking at a Conference on Empowerment through Education – ‘Taalim-o-Tarbiyat ’ in Mumbai. While higher growth rate impacts all by way of offering economic opportunities, certain minorities have lagged behind and those areas need to be addressed. Despite the poverty rate among Muslim community declining from 52% in 1991 to about 27% in 2011, some communities like Jains and Parsis have overcome the challenge of poverty, he said. Jaitley said education is the key to improve the conditions faster which would aid conversion of skills into opportunities. Madarasa is an important institution in imparting education for children of Muslim community and complimented the efforts of leaders like Zafar Sareshwala, for blending technology and traditional teachings, he said. The world is facing two kinds of challenges – political and economic. India is on a better wicket on both the fronts. “Barring occasional skirmishes, often magnified by media, there are no major incidents in our country. Our society continues to speak in one voice” Jaitley said.
Recognizing the diversity of India, the framers of the Constitution had provided for minority protection and had affirmed that government remains committed to the welfare of minorities, he added. Expect current a/c surplus of $ 4 billion in June quarter: Nomura - Japanese brokerage Nomura today said the country is likely to post first quarterly current account surplus in nine years in the June quarter at $ 4 billion or 0.8 per cent of the GDP. "We believe this swing in the current account balance will be driven by a sharp narrowing of the merchandise trade deficit," it said in a note. It added that despite weak global demand which has resulted in subdued non-oil exports, services exports and remittances, imports have contracted sharply. The imports are lower on weak investment demand, lower oil prices and a sharp correction in gold imports which were 48 per cent lower in the AprilJune period, it said. The note said that imports are likely to remain subdued for the remainder of the year as all the indicators are pointing to further weakness in nonagriculture growth. Current Account Deficit, or the difference between inflow and outflow of foreign exchange, came in at 1.1 per cent of GDP in 2015-16, 1.3 per cent in 2014-15, 1.7 per cent in 2013-14 and a record high of 4.8 per cent of GDP in 2012-13. GST to bring biggest business reform: Tax expert - The proposed Goods and Services tax regime is set to bring in biggest business reform, a tax expert said here today. "GST is just not tax reform. I say it is going to bring biggest business reform," A2Z Taxcorp Executive Director Bimal Jain said at Bharat Chamber of Commerce-organized interaction on GST draft law. According to him the implications will not be the same for all and depend on how each one does business. Jain also called upon the industry to prepare sector wise concerns seriously. Referring to various concerns of a few sectors on the issue, Jain urged that unless these are corrected they might have to suffer, beside highlighting benefits of GST. Service Tax Chief Commissioner S K Panda said concerns should be pointed out quickly to the government so that those can be taken into consideration when the final legislation is drafted. Panda said that he has raised at several locations of the draft, word service is missing instead of goods and services tax. � TOP ECONOMY NEWS The mines ministry has allotted 30 mineral blocks for exploration to Mineral Exploration Corporation Limited to enhance confidence among private exploration agencies. India’s biggest telecom spectrum auction will now start from October 1 instead of September 29, as the operators have suggested that there should be a gap of three working
days between the mock auction and the actual start of sale of airwaves. The auto industry suffered a loss of Rs. 40 billion in 8 months following the ban on sale of diesel vehicles in engine capacity of 2,000 cc and above in Delhi/NCR. Drugs Prices Control Order will be amended in the next 15 days to enable the regulator NPPA to fix prices of about 350 medicines whose market data is not available. The revised tax treaty with Mauritius, which allows India to tax capital gains on investments routed through the island nation, will tackle round tripping of funds and curb tax evasion. India Inc's overseas borrowings fell by 44% to USD 1.2 billion in July this year as against USD 2.14 billion in the same period a year ago. Sebi has eased restrictions on 201 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion and suspected money-laundering activities. The Indian economy grew at 7.1% in the first quarter of the fiscal, with good performance of sectors including manufacturing, electricity, financial services and public administration. Growth in the eight core sectors stood at 3.2% in July mainly due to sharp uptick in refinery products and a sustained rise in coal production. The index had grown by 5.2% in the previous month of June. The Cabinet allowed contractors to move to the new speedier arbitration process, approved release of 75% of the amount in dispute against bank guarantee and provided for a conciliation board comprising of independent domain experts in new contracts. The Indian economy grew at 7.1% in the first quarter of the fiscal, with good performance of sectors including manufacturing, electricity, financial services and public administration. Growth in the eight core sectors stood at 3.2% in July mainly due to sharp uptick in refinery products and a sustained rise in coal production. The index had grown by 5.2% in the previous month of June.
The Cabinet allowed contractors to move to the new speedier arbitration process, approved release of 75% of the amount in dispute against bank guarantee and provided for a conciliation board comprising of independent domain experts in new contracts. � TOP CORPORATE NEWS DLF Limited has shortlisted bidders for stake sale in its rental arm and has allowed access to virtual data room and vendor diligence reports. Prime Focus Technologies , subsidiary of Prime Focus Limited, has secured close to USD 20 million in first round of funding from Ambit Pragma. Reliance Communications Limited is planning to offer voice calling over LTE by the end of the year, giving users another option to make voice calls, and is holding talks with major network providers to finalise a player within a fortnight. A government-appointed panel examining a dispute over migration of gas from Oil & Natural Gas Corporation -held blocks in the Bay of Bengal to adjacent fields of Reliance Industries will submit its report to the Ministry of Petroleum by August 31. The pensioners of Britannia Industries Limited and the biscuit-making major have agreed to settle a decade-long dispute to pay pensions due to employees who retired after March 2003. Cipla Limited said its US arm InvaGen Pharmaceuticals Inc has received final approval from the American health regulator to market generic Bupropion Hydrochloride extended release tablets used for treatment of major depressive disorder. A central green panel has given environment clearance to Steel Authority of India Limited Rs. 54.19 billion expansion and modernisation project for its Rourkela plant in Odisha. Reliance Communications Limited is evaluating its options regarding spectrum in 700 MHz band, which will be auctioned for the first time in India. The Department of Posts has blacklisted HCL Infosystems Limited and its subsidiaries for a period of six months debarring the company from participating in any tenders issued
by it. IndiGo will seek shareholders’ approval for increasing its borrowing limit to Rs. 200 billion. Havells India Limited plans to invest Rs. 3 billion in the current financial year in expansion of its manufacturing base and is considering diversifying into various consumer electronics businesses including water purifiers and personal grooming. The Competition Commission has raided Eveready Industries Limited corporate office in Kolkata. Tata Steel Limited has finally given up the plan to set up 5.5 mtpa green-field integrated steel plant in Chhattisgarh’s Bastar district. Lupin Limited has received tentative approval for its generic version of anti-depressant Paroxetine extended-release tablets from the US health regulator. Welspun India Limited has appointed consultancy firm Ernst & Young to look into alleged lapses in its products supply after the US-based Target Corp terminated contract with the textiles maker. In a bid to achieve 100% Bharat Stage-IV fuel production, the Indian Oil Corporation Limited, will invest around Rs. 13.30 billion in two phases, to complete the conversion from BS-III to a cleaner fuel by the end of this year. DHFL Limited is hitting the market with a public issue of non-convertible debentures aimed at mopping up Rs. 100 billion for its operations. Tata Motors Limited has carried out raids in 19 locations across the country in recent months to help curb counterfeit products, as part of its campaign against spurious spare parts that started in 2012-13. Coal India Limited said its shareholders have approved buyback of 108.9 million shares worth Rs. 36.50 billion. Neuland Laboratories Limited said its board has approved merger of Neuland Health Sciences and Neuland Pharma Research with the company.
Carborundum Universal Limited inaugurated its Research and Development centre at its industrial ceramics division in Hosur, Tamil Nadu. Aurobindo Pharma and Intas are among the final contenders for the UK and Irish portfolio of Israeli generics behemoth Teva, put up for sale to comply with European antitrust regulations. Oswal group is in the process of selling its stake in listed broadcaster New Delhi Television Limited. Indian Oil Corporation., also boosting its liquefied natural gas business, is lifting purchases of the fuel to take advantage of a price plunge amid a glut. In a move to counter Reliance Jio, Bharti Airtel has slashed 4G and 3G mobile internet charges by up to 80% to as low as Rs. 51/GB under a special scheme. Dr. Reddy’s Laboratories Limited has launched Nitroglycerin sublingual tablets, a therapeutic equivalent generic version of Nitrostat sublingual tablets, in the US market. Vedanta Limited 1980 MW Talwandi Saboo thermal power plant has become fully operational with the 660 MW third unit starting commercial generation. A Centre's green panel has given environmental clearance to Reliance Industries for expansion of its jetty facility in Jamnagar, Gujarat, for handling chemical and petrochemical products at a cost of Rs. 7.50 billion. Cadila Healthcare Limited, Torrent Pharma & GSK Pharma are in a three-way race to acquire top-selling zinc-based multi-vitamin brand owned by Chennai based Apex Labs. PTC India Financial Services Limited has entered into arrangements with scheduled commercial banks whereby the banks will issue letters of credit to project companies in the renewable energy space. Zee Entertainment Enterprises Limited, confirmed that it was in advance level talks to sell its sports channel bouquet, which it operates under the Ten Sports brand. In a partial exit from Brazil, Shree Renuka Sugars Limited is all set to hive off larger of
the two plants of its Brazilian subsidiary Renuka do Brasil S/A. The move aims to reduce its consolidated debt burden by almost 50%. � TOP BANKING AND FINANCIAL NEWS OF THE WEEK The South Indian Bank Limited has launched Unified Payment Interface facility- an initiative promoted by NPCI towards creating "Cash less Society". Canada Pension Plan Investment Board that manages pension fund assets has received RBI approval to increase stake beyond 5% to 10% in Kotak Mahindra Bank. IDBI Bank Limited has raised capital of Rs. 15 billion through Basel III compliant Additional Tier-1 bonds to enhance capital adequacy. IDBI Bank Limited has cut its stake in CARE to 3.40% from 6.12%. The Reserve Bank of India asks banks to lay down clear policy on stressed assets sales, Amid rising Net-Performing Assets, RBI asked banks to put in place clear policy for sale of Stressed Assets to Securitization and reconstruction firms and Secure two external Valuation purpose in case the exposure tops Rs. 50 crore. In order to further strength the banks ability’s to resolve the Stressed Assets Effectively. RBI has come out with an "improved framework" governing sale of such assets by banks to securitisation companies , reconstruction companies , other banks or non-banking financial companies or financial institutions. Three out of the 10 provisionally licensed small banks are set to begin operations in the next few months as they have met the regulatory requirements and put in place the systems needed. The Reserve Bank of India has issued the final licence to Capital Local Area Bank, Suryodaya and newly listed Equitas. This could also see some competition for deposits in smaller towns against the developed ones. The Reserve Bank of India after outgoing Governor Raghuram Rajan will deal with a markedly different set of priorities, Deutsche Bank said in a special report. "There is little basis to guess the path of monetary policy to be pursued by the RBI under Governor-elect Urjit Patel, but there is sufficient empirical evidence to underscore the desirable path," it noted in the report released this week.
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