TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - Indian Benchmark Index Nifty has broken its range low of 8374 benchmark index closed at 8349 on Friday, 86 points down from last trading session close of 8435. The Index displayed weakness on Friday on the backdrop of poor Quarterly numbers. The new era of International politics has begun with Donald Trump coming into power. On Friday much awaited Trump inaugural speech was basically clueless about plan of “Trumponomics”, but was full of nationalistic rhetoric. Technically, Nifty is still in positive zone. Market has been consolidating since many days and we were near to a breakout or breakdown, now. Nifty may see breakout once it breaches levels of 8700 levels whereas a downfall would be seen if it breaches levels of 8580. India’s benchmark index Nifty open in a negative on Monday trading session down by 20 points at 8329. Nifty closed the Jan series almost 500 points up at pre-demonetization level of 8600 ahead of Budget next week. Market sentiment is also upbeat for hopes of a “dream budget” this time to reduce the demonetization pains ahead of state elections. but strict adherence of fiscal deficit target & capital market taxation issues may also spoil the “feel good” party. Technically, Indian Stock Market is still in positive zone. Now, Nifty is headed towards 9000 levels. We would see some profit booking that would be temporary in nature. 8511 is a monthly reversal levels. The support for the Nifty is 8550-8496 and the resistance to the up move is at 8707-8740 levels.
BANK NIFTY : - The Bank Nifty and Small Cap Indices ended in negative territory and closed at 18821, 300 points down from its last day’s close on Friday trading Session. The Bank Nifty open in a negative territory on Monday trading Session down by 58 points at 18762. The Banking Shares Index remained flat on Tuesday. It opened at 18762, made a high of 18910 and closed at 18842. it also participated in the rally with the high of 19054 and closed at 19023. The Index saw a charge of 300 points on the upside o Friday trading session. Bank Nifty’s recent high of 19300 has been crossed and if the Index is able to sustain above 19500, then a big up move towards 20000 levels is a possibility. Technically Bank Nifty need to stay above 19515 area for further rally towards 19900-20000 zone. On the other side, sustaining below 19800 area, Bank Nifty may further fall towards 19500-19100 & 18900 zone for the Next week trading sessions.
Monday, 30 January 2017
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES ) NIFTY DAILY
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
8834
8710
8648
8586
8462
R2
R1
PP
S1
S2
9573
8895
8556
8217
7539
R2
R1
PP
S1
S2
10104
9028
8490
7952
6876
R2
R1
PP
S1
S2
20467
19957
19702
19447
18937
R2
R1
PP
S1
S2
22633
20499
19432
18365
16231
R2
R1
PP
S1
S2
24997
21081
19123
17165
13249
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
8343
8299
8324
8276
BANK NIFTY
18745
18664
18673
18364
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
8330
7945
7963
BANK NIFTY
18722
17640
16569
PATTERN FORMATION ( NIFTY )
Detail of Chart -On the Above given Chart of Nifty We can see that Nifty index has been given positive trend or in the Range of 8400-8680 Range in Whole Week. . On the Daily Chart of Nifty it has made the Bullish kind of Pattern. Which is a Clearly signal for Trend Continuation Signal for Upcoming week. the levels of 8450 after which it created a high of 8680. If Trend is Followed, Nifty would trade in Positive zone for next trading session and can touch the level of 8800. The Bollinger Band is Also giving Signal that if it is Sustaining the Level of 8560 could move the Nifty toward the 8800 level. The support for the Nifty is 8551-8425 and the resistance to the up move is at 8760-8800 levels.
PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band along with MACD. Both are the Indicators trading in Negative Territory and it is clearly visible if the banking Index is able to Sustain the level of 19800 can uplift the index toward the 19900-20000 level in near term. From this level we are Expecting the If Bank Nifty is able to Sustain the Level of 19750-19800 may go Further Up side to the level of 19920-19980-20000 Level for Next week or sustaining below 19500 zone, Bank Nifty may further fall towards 19300-18950 area for next week trading Session. The Support for Bank Nifty is at 19525-19152 and the Resistance 19950-20190 to the up move is at 20150-20280-20360 levels.
NSE EQUITY DAILY LEVELS COMPANY NAME
R2
R1
PP
S1
S2
ACC ADANI PORTS
EQ EQ
1452 310
1440 308
1432 306
1421 304
1412 302
AMBUJACEM ASIAN PAINT AXISBANK BAJAJ-AUTO BANKBARODA BPCL BHEL BHARTIARTL BOSCH LTD BHARTI INFRATEL CIPLA COALINDIA CAIRN INDIA LTD DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK ITC INDUSIND BANK INFY IDEA CELLULAR KOTAKBANK LT M&M MRF MARUTI SUZUKI ONGC NTPC RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SBIN SSLT( VEDL) SUNPHARMA TATA MOTORSDVR TCS TATAMOTORS TATAPOWER TATASTEEL UNIONBANK YES BANK LIMITED ZEEL
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 EQ EQ EQ EQ EQ
236 992 480 2912 172 738 146 332 23277 358 595 322 284 3039 499 944 853 1403 1312 3291 198 888 283 270 1284 942 78 812 1485 1280 53891 5992 210 182 32 476 1033 539 46 273 260 647 348 2394 557 82 474 147 1433 525
234 986 476 2885 168 725 140 322 22889 356 588 320 282 3015 491 936 847 1387 1302 3250 194 876 278 263 1268 928 77 802 1463 1266 53596 5956 207 180 32 470 1028 533 45 270 259 644 344 2377 548 81 472 145 1415 511
232 980 472 2856 166 715 138 312 22561 354 583 318 280 2988 486 930 844 1358 1292 3225 190 864 269 260 1247 912 76 790 1448 1254 53338 5890 205 175 31 466 1024 527 44 264 257 638 342 2361 544 80 470 143 1402 498
230 974 466 2814 164 700 132 303 22173 352 576 316 278 2964 478 922 838 1342 1284 3184 186 852 264 253 1239 889 75 788 1426 1240 53043 5854 202 173 31 460 1019 521 43 261 256 635 338 2344 535 79 468 141 1384 484
228 968 460 2798 162 688 128 294 21845 350 571 314 276 2937 473 916 835 1313 1276 3159 182 848 255 255 1224 874 74 774 1411 1228 52785 5788 200 168 30 456 1015 515 42 255 254 629 336 2328 531 78 466 139 1371 471
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
HINDALCO INDUS.
171
190
HDFC
1237
1373
IDEA CELLULAR
71
78
BANK OF BARODA
154
167
KOTAK BANK
723
785
BHEL
129
139
GRASIM
863
931
ACC
1326
1430
ADANI PORTS
284
303
AMBUJA CEMENT
217
232
ZEEL
467
496
ULTRATECH
3471
3686
SBIN
251
266
BHARAT PETRO
664
704
BAJAJ AUTO
2701
2854
% CHANGE
+ 11.13 % + 11.02 % + 9.09 % + 8.65 % + 8.57 % + 8.18 % + 7.87 % + 7.86 % + 6.97 % + 6.94 % + 6.34 % + 6.18 % + 6.13 % + 6.02 % + 5.67 %
TOP 15 LOOSERS SR.NO
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
1
MPS LTD.
744
681
- 8.52 %
2
IPCl LAB
558
536
- 4.00 %
3
REPRO INDIA LTD. 407
394
- 3.22 %
4
BAJAJ CORP LTD. 395
383
- 3.17 %
5
AJANTA PHARMA 1781
1728
- 2.97 %
6
8K MILES SOFT
636
618
- 2.82 %
7
ALEMBIC PHA.
593
576
- 2.82 %
8
PIRAMAL ENTER 1768
1718
- 2.79 %
9
WIPRO LTD
477
465
- 2.58 %
10
KAVERISEED CMP 481
470
- 2.20 %
11
ABB INDIA
1131
1110
- 1.87 %
12
VOLTAS LTD.
342
336
- 1.81 %
13
JK PAPER LTD.
94.85
93.35
- 1.58 %
14
INFOSYS
948
942
- 0.69 %
15
HUL
860
855
- 0.52 %
4 3 2 2 2 1 0
NEXT WEEK STARS ( AS PER TECHNICAL ANALYSIS ) NSE FUTURE NSE FUTURE : BUY ICICIBANK FUTURE ABOVE 274 TGT 280 SL 270 NSE FUTURE : BUY ASHOKLEY FUTURE ABOVE 93.50 TGT 96.50 SL 92 NSE FUTURE : SELL ASIANPAINT FUTURE BELOW 870 TGT 830SL 890
NSE CASH NSE CASH : BUY VIPIND NSE CASH ABOVE 136 TGT 147 SL 132.. NSE CASH : BUY LIBERTSHOE NSE CASH ABOVE 180 TGT 198 SL 175. NSE CASH : BUY RBLBANK NSE CASH ABOVE 412 TGT 443 SL 399.
NSE - WEEKLY NEWS LETTERS ✍ TOP NEWS OF THE WEEK
FDI outflows matches FPIs’ in volatility - While foreign direct investment flowing into India hit a high of $ 43 billion in the April-November period, a record $ 16.4 billion went the other way amid private equity exits and other divestments. In fact, $ 6 billion rushed out in a mere two months — October and November — according to the Reserve Bank of India’s latest monthly bulletin. That almost matches foreign portfolio investment in terms of volatility — FPIs pulled out a net $ 7.3 billion during those two months. While this could be partly attributed to PE investors exiting through initial public offers and other avenues, some of it could be due to repatriation of profits. Divestments and strategic sales too could have contributed to a one-time spike in outflows, experts said. The FDI outflow of $16.4 billion is the highest-ever in a year, even though the fiscal close is four months away from November. Outflows in the same period last year amounted to $ 6.5 billion
Government raises Rs. 30,000 crore via disinvestment proceeds - The government has raised around Rs. 30,000 crore from disinvestment proceeds, said department of investment and public asset management secretary, Neeraj Gupta. This is the highest amount grossed through the stake sale programme. In this fiscal, the government has budgeted around Rs. 56,500 crore from disinvestment proceeds, of which Rs. 20,500 crore was to come through strategic sales. The government will also divest its 10% stake in Moil Ltd. on Tuesday where it currently holds 75.58% stake. “We will do our best to achieve the disinvestment target,” said Gupta added.
FRBM panel to relax 2017-18 fiscal deficit target to 3-3.5% '. - The government panel set up to review the working of Fiscal Responsibility and Budget Management Act, is expected to relax the fiscal deficit target to 3-3.5 per cent of GDP for 2017-18, says a report. According to Bank of America Merrill Lynch , the N K Singh Committee would build cyclicality in setting fiscal deficit projections by switching to a target range 3-3.5 per cent from a point target of 3 per cent. The NK Singh panel is expected to submit the new fiscal consolidation roadmap report today. "After all India's growth typically drives fiscal deficits rather than the other way round," BofA-ML said in a research note. The report noted that Finance Minister Arun Jaitley is expected to target a fiscal deficit of 3.5 per cent of GDP -- same as that of 2016-17 in his February 1 Budget. On the Reserve Bank's policy easing stance, the report said that the Central Bank is expected to cut rates by 25 bps on February 8 and in April.
India's 'dynamic economy' to grow at 7.7%: UN - India is one of the most "dynamic emerging economies" and is likely to grow at 7.7 per cent this year on strong private demand and
government reforms but excluding the effect of demonetisation, a UN report said today. It said demonetisation undertaken in India will have a "significant impact" on consumer spending in the short term but the country's economy will return to the about 7.6-7.7 per cent growth. When asked as to why the UN has not taken into account demonetisation impact on growth forecast, Economic Affairs Officer at UN ESCAP Matthew Hammil said: The UN report was prepared in late November, then finalised in December."
November IIP 'false positive', doesn't reflect reality : Crisil - Descibing the official data on the index of industrial production for November 2016, during which demonetisation was announced, as a "false positive", Crisil Research has said that the latest IIP figures do not reflect the true condition of the Indian manufacturing sector. Belying popular expectations, India's factory output, as measured by the IIP released earlier this month, rose 5.7 per cent in November, the first month of the government's demonetisation drive. Index of Industrial Production in October had declined by 1.81 per cent, while there was a 3.4 per cent slide in the corresponding month of last year.
Trade deficit may be in range of $ 100-110 billion by March-end: Repor t - The country's trade deficit which improved by 25 per cent in the first nine months of financial year 2016-17 compared to last year, is likely to be in the range of USD 100-110 billion by March-end, says a report. During April-December period of the fiscal 2016-17 the trade deficit was at USD 76.37 billion as against USD 100.08 billion in the same period last year. The trade deficit has improved sharply by almost 25 per cent in the first nine months and with the present trend, the overall trade deficit would be in the region of USD 100-110 billion for the year fiscal 2016-17" Care Ratings said in a report.
High government debt limits room for quick deficit reduction : Moody's - Days ahead of the budget, Moody's said its positive outlook on India reflects expectations of continued policy reforms reducing government debt even as it feels that the high debt level limits room to cut fiscal deficit quickly. Cautioning that India's debt-to-GDP ratio at 68.6 per cent is high compared to peers, it said the economy will return to the previous trend by mid-2017 after temporary effects of demonetisation fade away. "Our positive outlook on India's Baa3 credit rating reflects our expectation that continued policy reforms will allow balanced growth to support a sustainable reduction in the government's debt burden, currently a key constraint on India's credit worthiness," Moody's Investors Service V-P Sovereign Risk Group William Foster told PTI. He said persistent sizeable deficits imply that any reduction in India's debt burden will largely rely on robust nominal GDP growth, which, in turn, is linked to a sustainable recovery in private investment.
India Inc deal tally soars to $ 62.5 billion in 2016 : Grant Thornton - India Inc's merger and acquisition activity witnessed nearly 1,500 deals worth $ 62.5 billion in 2016 and with more economic reforms expected, the current year is also likely to be 'action-packed', says a report. According to assurance, tax and advisory firm Grant Thornton, M&A values clocked their highest, in the last five years with transaction worth $ 48.5 billion through 516 M&A deals. In contrast, PE activity slumped this year and registered its first decline in the last four years over increasing caution in investor sentiments. There were 971 pure play PE deals worth $ 13.9 billion in 2016. "2016 has been extremely action-packed with tremendous growth in deal activity and a slew of economic and structural reforms," Harish HV, Partner at Grant Thornton India LLP said. � TOP ECONOMY NEWS
Foreign exchange reserves rose by $ 688 mn to $ 359.8 billion in the week to January 13 helped by increase in the foreign currency assets.
Gold imports witnessed a fall of about 32% to $ 17.7 billion in April-December of the current fiscal, which is expected to keep a lid on the current account deficit.
SEBI plans to further tighten the regulations governing participatory notes amid persisting concerns that this route is being used for illicit fund flows.
Claiming that demonetisation has affected country's growth, a major central revenue body has asked Finance Minister not to implement Goods and Services Tax in a hurry and threatened to take legal recourse in case their concerns are not addressed.
The Central Board of Direct Taxes has sweetened the deal for certain VC and PE funds investing in start-ups, encouraging such funds to invest more with a promised beneficial tax treatment of their future gains from transfer of shares.
A record 1.57mn renewable energy certificates were traded on the country’s two energy exchanges, giving life to hope for a pick-up in the REC market.
India and the UAE signed as many as 13 pacts.
� TOP CORPORATE NEWS L&T Hydrocarbon, a wholly-owned subsidiary of Larsen & Toubro, has won orders worth Rs. 17 billion order in its construction services vertical.
Mahindra & Mahindra Limited has acquired a majority stake in Hisarlar Makina Sanayi ve Ticaret Anonim irketi for around USD19mn nearly Rs. 1.29 billion.
Future Consumer Limited has entered into an equal joint venture with Tilda Hain India (part of the US-based Hain Celestial Group) to manufacture, market and distribute natural and organic products.
Motherson Sumi Systems Limited has entered into an agreement to acquire Finnish truck wire maker PKC Group for EUR 571 million about Rs. 40 billion. The acquisition will be made through a wholly-owned subsidiary of MSSL.
PVR Limited will continue to invest Rs. 2.50-3 billion next fiscal to ramp up its screens across the country.
GMR Infrastructure Limited has completed the international competitive bidding process for the selection of a developer for Integrated Retail Development at the Delhi International Airport Ltd.
Tata Communications Limited said Tata Communications (Netherlands) has made an investment in the Netherlands-headquartered Teleena Holding, becoming the single largest shareholder in the company with 35% stake. A major fire broke out in one of the manufacturing units of Amara Raja Batteries Limited located in Chittoor district of Andhra Pradesh. After selling its stake in KG gas block to ONGC Limited for USD 1.2 billion, Gujarat State Petroleum Corporation is mulling a big financial restructuring including trimming stake in some business like LNG and portfolio readjustment.
Infosys Limited has invested a little over USD 62 million from its USD 500 million innovation fund in start-ups covering areas like IoT, automation and drones.
Reliance Industries is in talks to raise as much as USD 2.25 billion Rs. 153 billion in what
could be one of the biggest offshore debt issues by an Indian corporate as the energy-to-retail conglomerate seeks to replace existing high-cost borrowings as well as build a war chest for its aggressive expansion strategy in telecom.
Suzlon Group has bagged a 50.40MW order from a leading power utility in Gujarat. State oil firms have spent 90% of this fiscal’s capital expenditure in the first nine months, with ONGC Videsh, Oil India and Indian Oil Corporation having exceeded their annual targets already.
Bajaj Auto Limited is making a second attempt to enter Indonesia, this time pillion-riding on the number one European bike brand.
Lupin Limited has received final approval for the generic version of anti-depressant Paroxetine Extended Release tablets from the US health regulator.
Suven Life Sciences Limited has been granted a patent by Australia for a drug used in the treatment of neuro-degenerative diseases.
Manpasand Beverages Ltd is planning to increase its production capacity to more than double in the next 12-18 months. The company will set up four new manufacturing plants having total production capacity of 0.2mn cases per day as against the current 0.17mn cases per day.
Sun Pharmaceutical Industries is looking to sell its US subsidiary, Ohm Laboratories, as it looks to consolidate its operations in its biggest overseas market.
Cyient Limited said its subsidiary has signed a definitive agreement to acquire 100% equity in the Certon Software Inc. in an all-cash deal.
Ajanta Pharma Limited said that there is no import alert by the USFDA on the company's manufacturing unit in Aurangabad and it continues to supply to the US market.
Lupin Limited has launched generic version of contraceptives Ortho-Cyclen tablets after getting approval from the US health regulator. BASF, whose global business portfolio includes chemicals, agricultural solutions, and oil and gas, plans to launch five products for rice crop protection in India.
North Eastern Carrying Corporation announced that it has bagged a contract worth Rs. 4 billion from Tata Steel Limited for transportation of raw materials. BHEL, in association with ABB, has bagged a project worth Rs13.60bn from Power Grid Corp.
JSW Steel has submitted a bid of Rs250bn to banks for debt-ridden Bhushan Steel. Indian firms in December 2016 raised USD 2.8 billion in overseas borrowings, including that from rupee denominated bonds.
Investments in domestic capital markets through participatory notes (P-Notes) have plunged to 41-month low of Rs. 1.57 trillion in December. Biocon has bagged a MYR 300 million about Rs. 4.61 billion contract from the Ministry of Health, Malaysia, to supply recombinant human insulin formulations for a period of three years.
Natco Pharma said the US health regulator has made six observations after the completion of inspection of its Kothur formulation facility in Telangana. Heineken International is caught in a bind as it is unable to remove chairman Vijay Mallya from its Indian joint venture United Breweries despite owning a higher stake. The beleaguered billionaire is causing reputational risks to United Breweries due to his legal battles with lenders and investigation by government agencies for misappropriation of funds. Atlanta has secured a Rs. 12.92 billion road project in Gujarat from the National Highways Authority of India. Jubilant Life Sciences has received ‘Responsible Care 14001:2013 certification’ under the American Chemistry Council’s Responsible Care programme for its corporate office in Noida and for its manufacturing Unit in Gajraula.
Tata Steel Limited will acquire 51% stake of Creative Port Development Pvt , a move that may optimise in-bound and out-bound supply chain for its steel plants. The Board of Directors of Multi Commodity Exchange Ltd took a decision to appoint a forensic auditor for software provided by ODIN. The vendor company is owned and operated by 63
Moons Technologies Ltd, which was earlier known as Financial Technologies India Ltd.
SRS Ltd is in talks with multiplex operators including INOX and private equity players to sell its cinema business.
Wipro signed an agreement to acquire Info SERVER SA, an IT service provider focussed on the Brazilian market for USD 8.7 million. Delhi High Court sought the responses of the Centre and Directorate General of Foreign Trade on a plea by Cairn India Ltd challenging a single judge order dismissing its petition for exporting its share of crude oil from Barmer oil field in Rajasthan. Mezzion Pharma has filed a suit against Dr Reddy’s Laboratories in a US court. It has alleged the supplier had committed fraud by hiding significant deficiencies in the Current Good Manufacturing Practice, or CGMP, regulations enforced by the US health regulator.
NTPC Limited has raised EUR 500 million through overseas bonds sale that perhaps may be the first longest tenor euro-denominated issuance by an Indian company.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
A State Bank of India-led consortium of lenders on Monday filed a plea in the Supreme Court seeking to be included in the proceedings of a case involving Aircel, saying they would be “severely” affected if the telco is restrained from earning revenue using its 2G airwaves, which would impact repayment to creditors.
In a bid to create awareness about a bank's commitment towards their customers, the Banking Codes and Standards Board of India will organise "Know Your Rights" programme in select urban and rural areas of the country to enhance awareness on Banking Codes at the grassroot level, a top official said here today.
With $ 336 million of total revenue in 2016, the lowest for investment banks in the last five years, million-dollar annual bonuses have all but vanished. Shrinking business has not only taken a toll on team sizes, but annual payouts as well. Global banks such as Citi, JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley among others have announced annual bonuses — none in seven figures, according to bankers and head hunters.
India’s largest banks are building a consortium to test an interbank blockchain platform, putting
the country at the cutting edge of adoption of the technology that forms the backbone of cryptocurrency Bitcoin. The move comes after the central bank’s technology arm the Institute for Development and Research in Banking Technology released a white paper earlier this month saying its pilot, for a blockchain platform to settle trade finance transactions, had been successful.
The government is likely to soon announce the second tranche of capital infusion in state-run lenders, as it tries to assess their requirements to help them maintain appropriated regulatory capital. Around six banks may get more than Rs. 10,000 crore in the second round. Banks have made presentations to the finance ministry on their requirements, said a government official aware of the deliberations.
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