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 85908640 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

WEEKLY

MONTHLY

R2

R1

PP

8694

8582

8526

R2

R1

PP

S1

8862

8644

8535

8426

R2

R1

PP

S1

S2

8474

8168

7556

PP

S1

S2

9392

8780

S1

S2

8470

8358
S2
8208

BANK NIFTY
DAILY

R2

R1

19199
WEEKLY

18839

R2

R1

20612
MONTHLY

18659

18479

PP

19404

18800

18119

S1

S2

18196

16988
S2

R2

R1

PP

S1

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 84808350 down side and 8580-8640 is Upside.

PATTERN FORMATION ( BANK NIFTY )

Details of ChartOn 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 1865018470 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
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

76
269
1059
551
2784
155
109
143
371
526
335
161
3668
407
4999
734
1369
1241
3297
141
923
268
260
1153
1085
72
770
1593
1451
34889
4468
226
115
54
418
1024
572
53
228
182
802
518
74
375
132

74
266
1051
544
2755
152
107
142
369
523
333
160
3633
402
4952
732
1359
1236
3281
138
912
265
255
1148
1079
70
764
1583
1446
34532
4442
225
113
52
413
1018
567
52
225
176
794
512
73
371
129

73
264
1047
538
2737
151
106
140
366
517
331
156
3606
396
4901
726
1343
1228
3266
134
905
262
251
1139
1072
69
759
1568
1442
34333
4424
222
111
51
406
1012
557
52
224
165
788
503
72
363
127

72
261
1039
531
2708
148
104
139
364
514
329
155
3571
391
4854
724
1333
1223
3250
131
894
259
246
1134
1066
67
753
1558
1437
33976
4398
221
109
49
401
1006
552
51
221
159
780
497
71
359
124

71
259
1035
525
2690
147
103
137
361
508
327
151
3544
385
4803
718
1317
1215
3235
127
887
256
242
1125
1059
66
748
1543
1433
33777
4380
218
107
48
394
1000
542
51
220
148
774
488
70
351
122

TOP 15 ACHIEVERS

SR.NO

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

SCRIPT NAME

BHARAT PETRO

PREV
CLOSE

554

AURO PHARMA

761

ACC

1613

COAL INDIA LTD

318

ULTRATECH CEM
TATA MOTORS

3531
494

TCS

2445

ADANI PORTS

220

BHARTI INFRAT

353

ASIAN PAINTS

1025

SUN PHARMA

770

POWERGRID COR
AMBUJA CEMENT
LUPIN LIMITED

164
260
1670

HCL TECH

717

CMP

583
796
1683
331
3640
507
2513
225
360
1047
786
167
265
1700
728

//

% CHANGE

+5.18 %
+4.56 %
+4.34 %
+3.81 %
+3.08 %
+2.80 %
+2.78 %
+2.20 %
+2.17 %
+2.06 %
+2.02 %
+1.86 %
+1.86 %
+1.79 %
+1.57 %

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

PREV CLOSE

CMP

BANK BARODA

164

150

AXIS BANK LTD.

565

537

HUL

941

903

IDEA CELLULAR

111

106

SBIN

231

223

ONGC

230

222

BHARTI AIRTEL

378

367

WIPRO LIMITED

554

537

TATA STEEL

372

365

10

YES BANK LTD

1179

1156

11

M&M

1464

1440

12

ZEEL

471

464

13

KOTAK BANK

772

760

14

MARUTI SUZUKI

4472

4414

15

BHEL

142.60

140.90

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.

% CHANGE

-8.25 %
-4.84 %
-4.07 %
-3.96 %
-3.46 %
-3.39 %
-3.05 %
-3.02 %
-2.00 %
-1.91 %
-1.66 %
-1.58 %
-1.57 %
-1.28 %
-1.19 %

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 degrowth 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 governments 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 Tribunals 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 years 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 Banks 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 Banks 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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