TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - The Nifty50 started on a cautious note with a flat trade in morning on Monday on the day of union budget 2016.The Nifty was trading at 7017 down 13 points or 0.18 per cent. It touched a high of 7,053 and a low of 7,006. The Nifty started flat on Tuesday but was still trading above its crucial support level of 7,000, weighed down by losses in oil & gas, consumer durable, capital goods, auto stocks. With India's price-tobook versus return on equity premium dropping below 40 percent for the first time since May 2015. In a super rally post Budget also boosted by strong Asian cues, the market is making mighty gains. The Nifty is up 500 points, Nifty Bank surges more than 1500 points from Budget day lows in two trading session. The Nifty50 reclaimed it crucial resistance level of 7,300 and was trading near its next crucial level of 7,350. FM Arun Jaitley pledge to maintain FY16 fiscal deficit target at 3.5 per cent of the GDP. The positive comes from Wednesday some anticipation of Policy easing by RBI amid positive global market. The Crucial Support for Nifty is 7370-7220 and the Resistance for Nifty is 7530-7680. BANK NIFTY : - The Bank Nifty opened higher on Monday at 13818 up by 27 points or 0.2 %. Bank Nifty jumped 4.7% , on Tuesday the Banking stocks was top gainer. The Reserve Bank of India relaxed norms on tier-I capital relating to the treatment of certain balance-sheet items, including property, which will help PSU Banks unlock capital totaling about Rs. 35,000 crore. Bank Nifty opened with a terrific 3 per cent gain, which is really large for an index. We are headed further higher. On Wednesday Once again the interest rate sensitives like the banking and the auto stocks led the rally on hopes that the Reserve Bank of India is likely to announce reduction of interest rate.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
R2 7686
WEEKLY
R2 9287
MONTHLY
R2 8726
R1
PP
S1
S2
7532
7455
7378
224
R1
PP
S1
S2
7939
7265
6591
5243
R1
PP
S1
S2
7798
7334
6870
5942
BANK NIFTY DAILY
R2
R1
PP
S1
15689
15244
14799
R1
PP
S1
16762
14722
R2
R1
PP
19094
16330
16579
WEEKLY
R2 20842
MONTHLY
S2 13909
S2
12682
8602
S1
S2
13566
10802
50 DAYS
100 DAYS
200 DAYS
14948
MOVING AVERAGE
21 DAYS
NIFTY
7196
7428
7692
7964
BANK NIFTY
14422
15254
16222
17109
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
6885
7588
8092
BANK NIFTY
13652
16485
18540
PATTERN FORMATION ( NIFTY )
Detail of Chart On the Above given weekly chart of Nifty Applied Bollinger Band along with Parabolic SAR. and the Bollinger Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level it has given the Gap up opening and it is breaking the channel line also and reverse in the bull trend which is indicating the Bull movement for the Nifty the crucial Support for Nifty is 7370-7300 and the Resistance for Nifty is 75307680 , if the Nifty is able to break the level of 7500 we may witness the level of 7700 for next week.
PATTERN FORMATION ( BANK NIFTY )
Details of ChartOn the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. and the Bollinger Band is in the spread range it almost touched the lower band but not break. the Bollinger Band and after touching the level it is consolidating on Bull side ,Parabolic SAR The creating dot Upside which is the clear signal towards the consolidation Market For The Bank Nifty , however the Bank Nifty crucial Support is 15000-14800 and the Resistance is 15600-15780 .
NSE EQUITY DAILY LEVELS COMPANY NAME
ACC 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 INFY JINDALSTEL KOTAKBANK LT M&M MRF MARUTI ONGC ORIENTBANK RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL UNIONBANK
R2
R1
PP
S1
S2
EQ
1266
1252
1242
1228
1218
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
54 205 903 423 2329 154 100 112 339 552 334 113 3327 352 3577 873 1140 1044 2893 83 863 226 324 948 1198 67 685 1237 1237 34886 3664 206 97 58 375 1020 481 48 196 94 883 353 60 295 132
53 204 883 418 2313 151 97 109 334 545 330 109 3288 346 3544 854 1126 1032 2864 81 856 224 319 933 1185 65 677 1215 1227 34556 3615 203 94 57 369 1013 476 48 192 90 869 348 60 291 129
50 201 871 414 2287 147 94 106 330 537 322 107 3244 339 3497 842 1116 1013 2826 79 849 221 317 907 1172 64 661 1201 1218 34090 3571 201 89 55 364 1008 466 47 185 87 861 343 59 288 123
48 200 851 409 2271 144 91 103 325 530 318 103 3205 333 3464 823 1102 1001 2797 77 842 219 312 892 1159 62 653 1179 1208 33760 3522 198 86 54 358 1001 461 46 181 84 847 338 59 284 120
46 197 839 405 2245 140 88 100 321 522 310 101 3161 326 3417 811 1092 982 2759 75 835 216 310 866 1146 60 637 1165 1199 33294 3478 196 81 52 353 996 451 45 174 80 839 333 58 281 114
TOP 15 ACHIEVERS
SR.NO
SCRIPT NAME
PREV CLOSE
CMP
//
% CHANGE
SR.NO
TOP 15 LOOSERS
SCRIPT NAME
1
VEDANTA
70.90
87.40
+23.27 %
1
2
SBI
156.30
188.30
+20.47 %
2
3
HINDALCO INDUS.
66.40
79.30
+19.43 %
3
4
ICICI BANK
187.00
220.10
+17.70 %
4
IPCA LABORATORIE ONGC
5
TATA STEEL
247.90
287.85
+16.12 %
5
6
BHEL
93.45
107.50
+15.03 %
7
PNB
72.20
83.00
8
ADANI PORTS
200.15
9
TATA MOTORS LTD
10
UNITED LTD.
PREV CLOSE
SPIRITS 2592.35
CMP
2432.65
(a)374.40 P 609.25
353.00
209.40
200.35
OIL INDIA LTD.
318.40
309.95
6
WELSPUN INDIA
872.65
849.75
+14.96 %
7
1438.65
1406.40
225.75
+12.79 %
8
APOLLO HOSPITALS MPHASIS LTD.
439.65
429.90
306.30
344.15
+12.36 %
9
BANK OF BARODA
133.70
148.80
+11.29 %
10
11
INDUSIND BANK
821.90
914.00
+11.21 %
11
12
COAL INDIA LTD
295.25
327.10
+10.79 %
13
HDFC
1022.10
1129.10
14
YES BANK LTD
690.65
15
ITC LTD
287.60
MUTHOOT 179.60 FINANCE BAJAJ AUTO LTD. 2337.40
575.75
176.10 2296.80
12
ASIAN PAINTS 881.80 LTD. PIDILITE INDUS. 605.55
867.25 596.95
+10.47 %
13
FINOLEX CABLES 237.15
234.45
759.20
+9.93 %
14
ARVIND LTD.
269.05
267.95
315.20
+9.60 %
15
M&M
1218.60
1216.35
% CHANGE
-6.16 % -5.72 % -5.50 % -4.32 % -2.65 % -2.62 % -2.24 % -2.22 % -1.95 % -1.74 % -1.65 % -1.42 % -1.14 % -0.41 % -0.18 %
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION) NSE CASH 1.
NIITTECH NSE CASH - LONG POSITION CAN BE MADE IN NIITTECH ABOVE 498 FOR TGT OF 543 AND SL OF 482.
2.
UCOBANK NSE CASH - A CONSOLIDATION BREAKOUT WAS SEEN IN UCOBANK AND LONG POSITION CAN BE MADE ABOVE 36 FOR TGT AND OF 39.25 AND SL OF 34.85.
3.
INOXWIND NSE CASH - LONG POSITION CAN BE MADE ABOVE 310 IN INOXWIND FOR TGT OF 335 AND SL OF 301 .
4.
BALRAMCHIN NSE CASH - LONG POSITION CAN BE MADE IN BALRAMCHIN ABOVE 92 FOR TGT AND SL OF 101 ,89 RESPECTIVELY.
5.
QUICKHEAL NSE CASH - LONG POSITION CAN BE MADE IN QUICKHEAL ABOVE 245 FOR TGT AND SL OF 267 ,236 RESPECTIVELY.
NSE - WEEKLY NEWS LETTERS TOP NEWS OF THE WEEK Public sector banks wrote off over Rs 1.14 lakh crore in last 3 fiscals: Arun Jaitley FM Arun Jaitley reportedly said that State-owned banks wrote off over Rs 1.14 lakh crore debt during the last three financial years."The public sector banks have written off Rs 1,14,181 crore of debt during financial years 2013, 2014 and 2015." Jaitley stated that in case of technical write-off, the recovery efforts continue as accounts remain the books of branches. Union Budget 2016-17 is well aligned with PM’s‘Make in India ’ and ‘Startup India ‘ campaign - We believe the Union Budget 2016-17 is well aligned with Prime Minister’s ‘Make in India ’ and ‘Startup India ’ campaign. The budget focuses clearly on growth, development, job creation and creating a better environment for doing business in India. Besides a particular focus on startups by giving them exemption on their profits for the first three years is a welcome move. The relaxation in capital gain tax for investment in Funds of Funds and reducing the time frame to two years from three for availing long term capital gain tax benefit in the unlisted space will further boost the investment in startups. Also keeping the ‘Digital India ‘ momentum rolling during the budget, introduction of electronic auction platform for the private placement market in corporate bonds is a welcome move. India Budget credit positive but uncertainties remain: Fitch - India's latest budget for the 2017 fiscal year contains a number of elements that could be positive from a sovereign rating perspective over the medium term, says Fitch Ratings. However, uncertainties regarding implementation of the reform agenda and meeting targeted revenue growth remain. Most notably, the budget for the fiscal year ending 31 March 2017. underscores the government's continued commitment to gradually broaden the ambitious reform agenda. Further reforms, such as those pertaining to the financial sector, agriculture and liberalisation of the FDI regime were announced in the latest budget, indicating that the government retains its vision of how to structurally improve the economy and create sustainable growth. Fitch maintains that improving the relatively weak business environment through structural reforms that would support investment and real GDP growth is a key factor that would be credit positive.
Sustained growth: India Feb Manufacturing PMI at 51.1 - The February Manufacturing PMI At 51.1 , unchanged from January reading, the seasonally adjusted Nikkei India Manufacturing Purchasing Managers Index–a composite single-figure indicator of manufacturing performance–pointed to a second consecutive monthly improvement in business conditions across the sector. Reflecting sustained growth of new work, Indian manufacturers raised their production volumes in February. That said, the rate of expansion eased since January and was marginal overall. Incoming new work increased for the second straight month and at the quickest rate since last September. According to survey members, underlying demand continued to improve. New business from abroad also rose, although February saw a loss of growth momentum. Manufacturing business conditions in India continued to improve. Fiscal deficit of 3.5% is very credible step for the financial markets - The Union Budget 2016, presented today by the Union Finance Minister Mr. Arun Jaitley is a pragmatic and balanced act in the backdrop of global uncertainty. Maintaining a fiscal deficit of 3.5% is a very credible step for the financial markets, robust outlays for infrastructure, agriculture, rural and socio-economic schemes are also welcome moves, however, one can argue that more could have been provided for recapitalization of banks which are currently facing issues of mounting NPAs. Mr Jaitley once again relaxed the FDI policy in several sectors, including insurance and pension and asset reconstruction companies, to attract more overseas investments. The budget shows a lot of focus on rural areas and Infrastructure - arguably two important growth drivers for the economy. Fund allocation of Rs. 2.31 lakh crore to enhance infrastructure base - The Union Budget 2016-17 is a step forward for the welfare of the people and growth in the country. For the infrastructure development the government has announced fund allocation of at Rs. 2.31 lakh crore that would aim to enhance the infrastructure base of the country. Guideline for renegotiation of PPP contracts is a long standing demand from international investors and will make the investment environment much more risk neutral. It is a big step towards overseas funding comfort for PPP in infrastructure. 228% higher grants to gram Panchayats & urban local bodies in accordance with FFC recommendations will augment development process significantly in terms of providing basic facilities like clean healthy water, sanitation, and other basic amenities leading to smart towns of future . This budget restores balance in Rural Bharat and India Inc. The approach of the Finance Minister is one of quantum jump rather than tinkering, which would accelerate the
development process and put the Indian economy on a sustainable growth trajectory, while further expediting the “Make in India” programme and ‘Swaach Bharat Mission. RBI may require tight monetary stance for longer: IMF - International Monetary Fund reportedly said the central bank may require a “tight monetary stance for longer”. IMF added that the monetary stance remains appropriately tight for achieving near-term inflation objectives, says report. Favourable inflation dynamics gave the RBI room to cut the policy rate, while maintaining positive real interest rates broadly consistent with the ‘glide path ’ towards the medium-term inflation target,” IMF said. Sluggish economies and china troubles are key risk for Asia pacific Banks : S&P Sluggish economic growth in Asia-Pacific in 2016 is a key risk for banks in the region. Moreover, high-impact stress from China, while a low-probability occurrence, could hurt many Asia-Pacific banking systems through their direct and indirect exposures. That's according to a report, titled "Even As China Risk Looms Large, Economic Sluggishness Is A More Real Challenge For Asia-Pacific Banks In 2016," that Standard & Poor's Ratings Services published. Call drops: telcos to challenge Delhi HC order in SC - Telecom industry associations Cellular Operators Association of India and Association of Unified Service Providers of India - will appeal the order in the Supreme Court, “The initial drafts are ready for submission to the court,” a senior executive with one of the major telcos has been quoted as saying. “The lawyers are giving them final look overs and deciding on the senior lawyers that will represent them in the case.
TOP ECONOMY NEWS The government hiked import tariff value on gold and silver to USD 399 per 10 grams and USD 495 per kg, respectively, taking cues from global market. Government said it has identified over 150 projects under its ambitious 'Sagarmala' initiative that will mobilise more than Rs 4 trillion investment and create 100 million new jobs. India is engaging with EU to sort out regulatory issues and strengthen manufacturing
practices following the 28-nation block's ban on around 700 pharma products. The Reserve Bank of India on Tuesday relaxed norms relating to the treatment of certain balance-sheet items, including property, which will help banks unlock capital totaling about INR 40,000 crore. The government proposed to give income tax exemption to foreign companies for storing and selling oil to local refiners, a move that could spur interest from global oil producers in leasing the country's strategic petroleum reserve facilities. Providing clarity on spectrum trading deals, Finance Minister Arun Jaitley said right to use spectrum and its subsequent transfer is a service which will attract service tax. The Minister of Civil Aviation P Ashok Gajapathi Raju has said that the Budget 2016-17 has paved the way for developing India as a Maintenance, Repair and Overhauling hub of Asia. He said that the budget has made provisions for incentivising domestic value addition to help Make in India. Under this, the following provisions have been made for the MRO business in India. Finance Minister Arun Jaitley announcement that the government is considering allowing market prices for natural gas has not enthused the industry players. The FM said, "A proposal is under consideration for new discoveries and areas which are yet to commence production, first, to provide calibrated marketing freedom; and second, to do so at a predetermined ceiling price to be discovered on the principle of landed price of alternative fuels." Bullish on India, the International Monetary Fund has projected a robust growth rate of 7.3 per cent for the country this fiscal, picking up to 7.5 per cent next year. The government will soon start work on about Rs 500 billion projects that include overhauling of British-era bridges and construction of road overbridges and underpasses at unmanned railway crossings, Union Minister Nitin Gadkari said. Shaktikanta Das, the secretary for the Department of Economics, addressed the Economic India Times regarding the new budget during an interview.
The National Human Rights Commission has sent notices to Union Ministries of Finance and Health over reported imposition of excise duty on life-saving drugs making them costlier. The Commission has taken suo motu cognizance of a media report that the Centre has removed a custom duty waiver and also imposed excise duty on certain life saving drugs making them costlier for patients. Telecom operators moved the Supreme Court against telecom regulator Trai's regulation for compensation for call drops. The hearing for the matter is expected to come up on March 4th. More than three hundred thousand jewellers are participating in the three-day pan-India strike to protest against the proposed re-imposition of one percent excise duty on gold and diamond jewellery. Opposing the Budget proposal to permit 100% FDI in food processing segment, traders body CAIT said the move would adversely impact farmers and will result into mass unemployment. Government plans to set up four new major ports at Tamil Nadu, Maharashtra, West Bengal and Andhra Pradesh at an investment of Rs. 320 billion under PPP model. The current Finance Minister Arun Jaitley seems to continue this trend by planning to review the recently proposed scheme in his budget speech as per which 60% tax would be levied on withdrawal from the Employees Provident Fund contributions. To revive the financial sector in India currently plagued with stressed assets, FM Arun Jaitley in Union Budget 2016-17 vowed for comprehensive bankruptcy code, which will be enacted and brought in to deal with illicit deposit taking schemes.
TOP CORPORATE NEWS Gammon Infrastructure said it has completed the first tranche of stake sale in nine projects on approval from National Highways Authority of India and lenders. The infrastructure firm had announced to sell stakes in 9 projects valued at Rs67.5bn to
Brookfield and Core Infra India Fund; a deal that will fetch Rs5.63bn on completion as well as reduce its debt considerably. Tata Motors JLR India total sales grew by 54% year-on-year to 277 units compared to 179 units reported in the year-ago period. Engineering major Larsen and Toubro said its construction arm has bagged orders worth Rs22.13bn across various business verticals. Infosys Ltd. announced that it will collaborate with Microsoft Corp., a global leader in platform and productivity offerings, to deploy advanced analytics solutions to support healthcare organizations in their digital transformation. Aurobindo Pharma has received final approval from the US health regulator for generic version of an intravenous antidote to a pain-killer drug overdose. An antidote is a substance which can counteract a form of poisoning. Defence PSU BEML has bagged an order worth Rs9bn for the supply of Metro Coaches to Kolkata East-West Metro Line. A contract agreement was signed between Kolkata Metro Rail Corporation and BEML at Kolkata, BEML said. IDBI Bank Ltd has set an aggressive three-year target of doubling its business and sharply reducing bad assets, the lender said, a day after the Indian government said it would consider ceding control of the state-run bank through a share sale. Pharma major Cadila Healthcare Ltd on Tuesday said it has received final approval from the United States Food and Drug Administration to market anti-diabetic drugs called Glyburide and Metformin Hcl tablets USP.(HBL) The country largest car-maker Maruti Suzuki India today reported a marginal decline in total sales in February at 1,17,451 units as against 1,18,551 units in the same month last year. Tata Motors increased prices of its passenger vehicles by up to Rs 35,000 with immediate effect to offset the impact of infrastructure cess proposed in the Budget 201617.
Mahindra & Mahindra Ltd has sold 44,002 vehicles in February, a 16 per cent rise from the 38,030 units sold during the same month a year ago. Piramal Enterprises has acquired US-based healthcare software firm Adaptive Software for $24.5 million. The payment will be made in a staggered fashion, part of which will be made only if the company achieves performance targets. Adani Enterprises, the flagship firm of the Adani Group, has incorporated subsidiary Korba Clean Coal Pvt Ltd for carrying on the business of coal washing. Dr Reddy's Laboratories Limited had initiated a voluntary recall of Paricalcitol capsules of different dosages in the US market in November last year owing to the reports of breakage of capsules. JustDial is set to launch a Rs. 1 billion marketing blitz. The company, which recently launched a seller app, has tried to pivot away from its simple listing model. JustDial has started transactions on its app and is in the final stages of introducing one-click payment like Amazon in the US - effectively entering the e-commerce race. Dr Reddy's Laboratories is seeking approval from its shareholders for a share buyback for an aggregate amount not exceeding Rs. 1,569.42 crore. Tata Steel Ltd has received final environment clearance for its Rs18.8 billion expansion project to be carried out at Jamshedpur Steel Works in Jharkhand. State gas utility GAIL India Ltd has again postponed its US$ 7 billion tender for hiring nine newly-built ships to ferry liquefied natural gas from the US, by one month. Following the Budget proposal to levy infrastructure cess on automobiles, the country's largest passenger car maker Maruti Suzuki India said the ex-showroom prices of its models would go up in the range of Rs1,441 to Rs34,494 across its models. Tata Power, rolled out its third Tata Power Skill Development Institute , a Centre for Excellence for Power Plant Skills, at Maithon Power. The institute was inaugurated by Ashok Sethi, COO and executive director, Tata Power.
TOP BANKING AND FINANCIAL NEWS OF THE WEEK Welcoming Reserve Bank of India easing of rules to allow lenders to bolster capital ratios, Finance Minister Arun Jaitley today said the government will take all steps and provide resources to keep public sector banks in good health. A day after Finance Minister Arun Jaitley said the government may consider bringing down its stake in state-run IDBI Bank to below 50 per cent, the lender today announced a "transformational" plan entailing an investment of about Rs 20,000 crore over a threeyear period. In a move that will reduce Rs 35,000 crore worth of capital requirement burden for public sector banks, the Reserve Bank of India has revised norms allowing lenders to assign higher values to hidden assets in their balance sheet. Central Bank of India said its board has approved raising over Rs. 165 crore by issuing additional equity shares to insurance giant LIC on preferential basis. HDFC said it will raise Rs 2,000 crore via non-convertible debentures. DCB Bank Limited announced that it has acquired an equity stake of 5.81 per cent for Rs. 9.99 crore in its long standing business partner Annapurna Microfinance Pvt. Ltd. All India Bank Employees Association representing the employees of public and private sector banks, today criticised the government's move to privatise IDBI Bank stating instead of recovering the bad loans.
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