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NIFTY FIFTY : The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of
market-moving economic data due this week. The US market ended marginally higher on
Friday amid rebound in crued oil prices. Investor sentiment was hit by low expectations
from the earnings season that is set to kick start with IT giant Infosys on Friday. There is
very high probability that we may see choppy action going forward. At least for the next
few trading session. Domestic equity witnessed a Subdued start on Tuesday trading
session on mixed Asian Cues, On Wednesday The Nifty50 was trading at 7,799 up 90
point or 1.17 per cent. The Rally in market was largely led by surplus monsoon Forecast
by the whether department this year after two consecutive droughts. The Economic data
released too influenced the market sentiment factory output grew by 2 per cent and retail
inflation dropped to 4.83 per cent in march from 5.26 in last month. The crucial levels for
Nifty is 7880-8000 up side and 7800-7750 in down side.
BANK NIFTY : - The Bank Nifty Open positive on Monday at 15623 up by 55 points or
0.35 per cent. The Reserve Bank of India Governor Raghuram Rajan said the interest rate
are now significantly lower and will continue to be so. The Banks having retail focus are
expected post better financial results in the fourth quarter ended March 31. The Supreme
Court expressed concern over the substantial bad debt burdening the countrys banks
and asked the Reserve Bank of india what it was doing as regulator to ensure that dues
were being recovered and not piling up. It also pushed the central bank to reveal the total
amount of such non performing assets, The Bank Nifty closed in a positive note last week
and we are expecting if it is able to sustain the level of 16300 we may witness the forward
movement. The Strong Support for Bank Nifty is 16150-15900 and Resistance is 1650016460.
WEEKLY
MONTHLY
R2
R1
PP
S1
S2
8105
7921
7829
7737
7553
R2
R1
PP
S1
S2
8787
8091
7743
7395
6699
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R1
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8789
8093
7745
7397
7003
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BANK NIFTY
DAILY
WEEKLY
MONTHLY
MOVING AVERAGE
21 DAYS
50 DAYS
100 DAYS
200 DAYS
NIFTY
7623
7420
7576
7890
BANK NIFTY
15710
15081
15799
16830
PARABOLIC SAR
DAILY
WEEKLY
MONTHLY
NIFTY
7784
6986
7901
BANK NIFTY
16260
13590
18056
Detail of Chart On the Above given chart of Nifty has applied the MACD along with Resistance Level
these are the trend identifying pattern and made the Resistance level in the Nifty daily
chart that made on the above given chart we have draw the Trend line for more than the
week period and it is not able to break the up level. However in upcoming trading session
it could break the upper level of channel line which is the strong Resistance for the
Nifty50 around 7880. Now we are expecting that if the Nifty is able to sustain the 7800
level we may witness the Bull trend of Nifty on the other hand if Nifty rebound the 78807950 level again we may see the positive rally in the index. The Strong Support for Nifty
50 is and the Resistance is 7800-7760.
Details of ChartOn the Above given chart of Bank Nifty has applied the MACD along with Resistance
Level these are the trend identifying pattern and made the Resistance level in the Bank
Nifty daily chart that made on the above given chart we have draw the Channel line for
more than the week period and it can able to reach the up level. However in upcoming
trading session it could break the upper level of channel line which is the strong
Resistance for the Bank Nifty around 16380-16450 . Now we are expecting that if the
Nifty is able to sustain the 16300 level we may witness the Bull trend of Bank Nifty on
the other hand if Nifty rebound the 16350-16380 level again we may see the positive rally
in the index. The Strong Support for Bank Nifty 50 is 15900-15880 and the Resistance is
16390-16450.
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TOP 15 ACHIEVERS
SR.NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
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SCRIPT NAME
BHEL
HINDALCO INDUS.
TATA MOTORS LTD
PREV
CLOSE
112
84.90
CMP
//
% CHANGE
133
+18.43 %
96.30
+13.43 %
370
408
+10.32 %
M&M
1215
1332
+9.60 %
339
369
+8.84 %
NTPC
126
137
+8.12 %
2394
2582
+7.84 %
ICICI BANK
225
240
+6.67 %
TATA STEEL
312
332
+6.58 %
BHARTI AIRTEL
330
351
+6.28 %
HERO MOTOCORP
2963
3148
+6.23 %
LUPIN LIMITED
1463
1548
+5.82 %
ACC
1390
1469
+5.69 %
BANK OF BARODA
144.35
152.45
+5.61 %
WIPRO LTD.
559
584
+4.63 %
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SCRIPT NAME
IPCA LAB
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555
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% CHANGE
493
-11.22 %
HINDUSTAN ZINC
186
165
-11.14 %
JAYPEE INFRA
8.25
7.65
37.85
35.15
-7.27 %
MALPHA
M M
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-7.13 %
RAJESH EXPORT
634
594
-6.25 %
UBL
828
797
INFOSYS
1219
1172
BEML LIMITED
975
941
INDIAN BANK
102
99
UNITED SPIRITS
2448
2377
VIJAYA BANK
31.55
31.45
IRB INFRA
223.95
223.33
SUN TV
359.70
358.90
KRUR VYSYA
472.50
472.10
BHARAT FORGE
830.20
830.05
-3.76 %
-3.68 %
-3.45 %
-2.93 %
-2.89 %
-0.32 %
-0.29 %
-0.22 %
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NSE FUTURE : SELL CENTURYTEX FUTURE BELOW 612 TGT 598 SL 616
NSE FUTURE : SELL JETAIRWAYS FUTURE BELOW 622 TGT 612 SL 627
NSE FUTURE : SELL MCLEODRUSS FUTURE BELOW 195 TGT 190 SL 197
NSE FUTURE : BUY RECLTD FUTURE ABOVE 165 TGT 170 SL 163
NSE FUTURE : SELL SRTRANSFIN FUTURE BELOW 977.50 TGT 960 SL 684
Govt may form panel to clear PSBs' bad loan mess - The Government is considering
forming a three-member committee to approve the bad loan settlement plans of public
sector banks. The move comes after the Centre's bid to clean up the bad-loan mess and
give PSBs a fresh start didn't elicit an enthusiastic response, according to source. Bankers
are not keen on a one-time loan settlement that involves taking a haircut, fearing
investigating agencies will come after them, Source. The panel will consist of an exSupreme Court judge, a former chief vigilance commissioner and a retired official of the
Comptroller & Auditor General. Banks can approach the panel with settlement proposals
for approval and execute them without fearing action against them, a top government
official told. The Non- Performing Assets of Public Sectors Banks more than doubled to
6.7 % at the End of Dec 2015 from 3.22 at the end of FY 13.
ASSOCHAM asks banks not to get swayed away by shrill in Mallya case Impressing upon the banks not to get swayed away by the shrill of public discourse
against the purported willful defaulters, apex industry body ASSOCHAM today said that
offer made by industrialist Vijaya Mallya should be considered carefully before rejecting
it, because his offer does convey his intention to repay the loans taken from the public
sector lenders. With so much shrill on the wilful defaulters, the banks and their principal
shareholder, the Government of India, should take a dispassionate view of the case rather
than being influenced by the media reports which at times get exaggerated in the rightor-wrong debate, ASSOCHAM Secretary General D S Rawat said in a statement. He
said, the main concerns for the banks consortium should be recovery of its assets which
have become NPAs and all genuine efforts must be made towards that end.
India Inc set to post best EBIDTA growth in six quarters: CRISIL Research CRISIL Research, Indias largest Independent and Integrated research house, expects
India Inc to report EBITDA growth of ~7% for the quarter ended March 31, 2016. That
will mark the fastest growth in six quarters, driven by higher gross margins derived from
lower commodity prices. Revenue growth would, however, remain lacklustre at ~2%
because of low commodity prices, weak investment demand, patchy demand recovery
and low pricing power because of competition.The analysis is based on 600 companies
that account for ~70% of the market capitalisation of the National Stock Exchange.
Government ability to prioritize the Reforms like GST will aid economic Recovery :
Arun Jaitley - India stands amid the most crucial phase of structural reforms since the
signifcant reforms undertaken 25 years ago. Economic revival is likely given that the
government is pressing ahead with its reform agenda, says Finance Minister Arun Jaitley
in an interview. The upcoming second half of the budget session of Parliament would see
the government magnifying emphasis on reforms such as goods and services tax
legislation, bankruptcy code, and amendments to the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act and prevention of corruption
law, he said. FM Jaitealy clarifies that GST should be done via consensus since its
implementation would entail everyone involvement including congress , Government as
per the Report.
FM: Indian economy estimated to register 7.6% growth in FY 2015-16 - The Finance
Minister Arun Jaitley said that Indian economy is estimated to register 7.6% growth in
FY 2015-16, notwithstanding contraction of global exports and two consecutive years of
shortfall in monsoon. Jaitley said that amid weaker outlook across the globe, Indias
experience of strong economic growth, comfortable price situation, low current account
deficit, and adherence to fiscal recovery path have projected it as an outpost of
opportunity for global investors. The Finance Minister was speaking on the theme of
Steering India towards Growth , at an event organized by Carnegie Endowment for
International Peace in Washington D.C. on the very first day of his US trip.
India plans to mobilize an investment of Rs. 1 lakh crore for ports: PM - Prime
Minister Narendra Modi has inaugurated the maiden Maritime India Summit in Mumbai,
asserting his government's resolve to restore India's position in global maritime sector.
"We Indians are inheritors of a glorious maritime heritage and world's first dock was built
at Lothal in Gujarat, during the Harappan civilization, Building upon our glorious
maritime tradition, we are working hard to achieve new heights in this area" he said.
Stressing on the importance of maritime transport, Prime Minister Narendra Modi said
that everyone should make sure that our lifestyle, transport systems and trading behaviour
do not spoil the ecology of the oceans. He also said, the architect of the Indian
Constitution Dr.Babasaheb Ambedkar, on whose 125th birth anniversary, the Maritime
India Summit was being inaugurated, was also the architect of the water and navigation
policy in India.
Bullish on India's growth prospects, International Finance Corporation has said offshore
rupee bonds can provide a new source of funding for Indian companies and they stand to
benefit in the longer term from comparative pricing landscape.
Stepping up its energy ties with Iran, India has lined up $20 billion as investment in oil
and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject
to provision of concessional rights.
Government is looking at a scheme for encouraging its employees to invest part of their
7th Pay Commission salary hike in a fund which would be used for recapitalisation of
state-owned banks.
Telangana government has invited Chinese infrastructure company Gezhoba, which was
associated with the construction of the famous Three Gorges dam in its country, to take
part in the construction of the irrigation projects in the state.
Growth in developing East Asia and Pacific has remained resilient and is expected to
ease only modestly during 2016-18, according to a new World Bank report. This outlook
is subject to elevated risks and countries should continue to prioritize monetary and fiscal
policies that reduce vulnerabilities and strengthen credibility, while deepening structural
reforms.
Foreign direct investment in the country surged to $42 bn during April-February in 201516, according to RBI data.
Fitch has maintained its GDP growth forecast for India for the fiscal year ending March
2016 at 7.5 per cent. Growth is expected to gradually accelerate to 7.7 per cent in FY17
and 7.9 per cent in FY18.
The Government will keep regulating cotton seed prices and will not allow companies
like the US biotechnology major Monsanto to exploit farmers.
The Income Tax department has activated the Aadhaar and net banking-based e-filing
verification system for taxpayers to file the first appeal before a tax officer, on similar
lines of online ITR filing.
Reserve Bank Governor Raghuram Rajan said the central bank holds around Rs.8 trillion
of government bonds with it.
With the share of states in central taxes seeing a quantum jump, Finance Minister Arun
Jaitley advised them to stick to fiscal discipline, spend on infrastructure and development
activities and to use Aadhaar for transferring benefits to people.
The government is making every effort to bring down the cost of production of urea and
exploring the option of setting up a plant in Iran using cheaper gas, Union Minister Nitin
Gadkari said.
Retirement fund body EPFO settled 11.8 million claims in 2015-16, out of which 96%
claims were settled within 20 days.
The India Meteorological Department has projected an above normal monsoon for 2016,
spelling good news for farmers and policymakers battling two years of consecutive
drought.
Owing
to the slowdown in China, low crude oil prices and overall sluggish trend in
advanced economies, the International Monetary Fund has cut its global growth forecast
at 3.2% in 2016. However, the Fund forecasts Indian economy to grow at the fastest pace
of 7.25% in 2016.
Moody's Investors Service says that lower remittances from Gulf Cooperation Council
economies, which have been hit hard by the slump in oil prices, will reduce the benefits
of cheaper oil imports for several Asia Pacific countries. Generally, weaker remittances
will immediately impact the recipient countries' credit profiles via their balance of
payment positions. A prolonged fall would also hurt economic growth, given the
importance of remittances to household incomes.
The
Finance Minister Jaitley held a bilateral meeting with United States Trade
Representative Ambassador Mr Michael Froman. The Finance Minister affirmed that the
sustained engagement and rapidly increasing trade and investment partnership between
India and the US are key elements of the bilateral engagement between the two countries
and India looks forward to strengthening and deepening this economic engagement. The
Finance Minister emphasized.
TOP CORPORATE NEWS Bajaj Auto and its Austrian partner KTM AG are extending their partnership to
Indonesia for selling Duke and RC brands of motorcycles of up to 400cc.
ITC Limited said it has adequate cigarette stocks available in the market despite shutting
all its manufacturing in the wake of the government rule that requires larger pictorial
warnings on packets.
Cairn India Ltd. has full indemnity from its former promoter Cairn Energy of UK
against levy of any tax for past deeds, including the two-year old Rs 204.95 billion
retrospective tax demand, its new owner Anil Agarwal has said.
Tata Power said its Singapore-based arm TPIPL has signed an agreement with KS Orka
Renewables Pte for sale of its 50 per cent stake in OTP Geothermal Pte for USD 30
million.
Sun Pharmaceutical Industries has received approval from the US health regulator for
its non-steroid drug BromSite used to treat inflammation and prevent pain in patients
undergoing contract Surgery.
Nokia has bagged a contract from Idea Cellular to roll out 4G in three circles and also to
expand the infrastructure for 3G and 2G networks.
Great Eastern Shipping Company Ltd has signed a contract to buy a Japan-built
second hand vessel, which will be delivered in the current quarter.
Orchid Pharma has received the Establishment Inspection Report from the US health
regulator based on the successful inspection closure for its API manufacturing facility in
Tamil Nadu Kancheepuram district.
The wind energy company arm of Suzlon Group has announced it has bagged a maiden
order of 105 MW from Greenko Group to be executed in Andhra Pradesh.
Jewellery exporter and retailer Rajesh Exports it has won a Rs.11.88 billion export order
from the United Arab Emirates.
NTPC Limited has supplied 100 MW of un-requisitioned surplus from its Dadri Stage-1
plant to Gujarat Urja Vitran Nigam.
Aditya Birla Nuvo said it has completed an additional 23% stake sale in its life insurance
firm Birla Sun Life Insurance Company to its Canadian joint venture partner Sun Life
Financial for Rs 16.64 billion.
Adani Enterprises has marked its entry into the wind energy segment by placing the
company first order for wind turbine generators with Inox Wind Ltd.
TTK Prestige Limited , through its wholly-owned subsidiary TTK British Holdings, has
acquired Silampos UK for an undisclosed sum.
Mahindra & Mahindra Farm Equipment Sector, launched new range of tractor Yuvo in
Madhya Pradesh.
Tata Steel, has signed an agreement to sell the loss-making 4.5 mt long-product
Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital for a
nominal consideration.
Hindustan Zinc Limited , a Vedanta group company, paid the government Rs. 29.95
billion as dividend on account of its 29.54% residual stake.
Two Japanese consortiums have bid for state-owned gas utility GAIL India Ltd's USD 7
billion tender for hiring nine newly built ships for ferrying LNG from the US.
Coal India Limited cuts prices of top grade coal by up to 40% on global cues.
Tata Chemicals Limited said its fertiliser plant at Haldia will be shut for about five
weeks in September-October due to interruption of ammonia supply.
Infrastructure firm JP Associates has pulled out of the project to set up an electronic chip
plant that entailed an investment of about Rs340bn.
Federal Bank tied up with Phillip Capital , a subsidiary of the Singapore headquartered
Phillip Capital group, for managing the NRI Portfolio Investment Scheme.
The
newly constituted Banks Board Bureau , headed by former CAG Vinod Rai, on
Friday held its first meeting that was attended by RBI Governor Raghuram Rajan and
Union Minister of State for Finance Jayant Sinha, among Others, The Bureau has been
constituted to recommend the government on selection of heads of Public sector banks
and financial Institutions and help lenders in developing strategies and capital raising
plan.
India's largest carrier Bharti Airtel received its payment bank license that is had applied
for in partnership with Kotak Mahindra Bank, a move that will help the companies take
Indian government's financial inclusion plans to the next level.
State-run Vijaya Bank, announced a reduction in term deposit interest rates by 25 basis
points.
Axis Bank Limited the, Third largest Private Sector Bank, Today announced a cut in its
lending rate by 0.15 per cent to bring it par with its large rivals.
The
Supreme Court expressed concern over the "substantial" bad debt burdening the
country's banks and asked the Reserve Bank of India what it was doing as regulator to
ensure that dues were being recovered and not piling up. It also pushed the central bank to
reveal the total amount of such nonperforming assets but relented when its lawyer said
such information may lead to a loss of confidence in the country's banks.
Uday Kotak targets HDFC and ICICI Bank in saving rate Gamble Uday Kotak has set a
scorching pace for everyone in the banking industry in the past two years. Kotak
Mahindra Bank's deposits, assets and profits have surged. But in a declining interest
rate scenario with credit and deposit growth stuttering, the banking industry is responding
by cutting lending, savings and deposit rates hoping to protect margins and boost lending.
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