TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Equity benchmark Nifty50 has opened flat basis on Monday up by
1 point at 8667. Nifty had a luck-luster movement last week where it moved in a narrow
band of 125 points. Time to look forward to the follow up of Raghuram Rajans era
country central bank by the newly appointed governor Urjit Patel, the scenario is still far
from relax to him like rising inflationary Pressure and lower growth in domestic demand.
For the second time in 7 month and after 5 month of consistent of positive closing, Nifty
has ended marginally in red in this week. The Nifty is facing the lot of Resistance Levels
around 8680-8720 levels. Ahead of Fed Chair Jennet Yellen Speech and Last trading
Session of august F&O expiry the Nifty has witnessed some volatility but it was in the
very much trading range. The crucial levels for Nifty for next week is 8650-8680 up side
and 8550-8500 down side. If Nifty break the level of 8550 could witness the correction of
150-200 points.

BANK NIFTY : - The Bank Nifty open in Positive note on Monday up by 18 points or 0.1
percent at 19432. The Net-Performing Assets of Indias State run Banks. Measured of
their percentage of advances, has ballooned 5.4 per cent as on March 2015 to 11.5 per cent
in 15 month. The Government this time Choose to play safe by appointing Patel as the
New Reserve Bank of India Governor, and in this way basically ensuring smooth
transition, continuation of present policy of inflation targeting. Valuation wise Bank Nifty
at 19400 PE of Bank Nifty is 27.50 and may be quite expensive from its historic average
of around 18-20. Bank Nifty may be in the bubble zone already and we may see
significant correction. Even after any initial Euphoria. The Crucial Levels for Bank Nifty
is 19663-20031 upside and 19001-18682 down side.

Monday, 29 August 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY
DAILY

R2
8797

WEEKLY

R2
9000

MONTHLY

R1

PP

S1

8649

8575

8501

R1

PP

S1

8730

R2

8595

R1

9209

8353
S2

8460

PP

8801

S2

8597

8190

S1

S2

8393

7985

S2

BANK NIFTY
DAILY

R2
19885

WEEKLY

R2
20331

MONTHLY

R2
22176

R1

PP

S1

19443

19222

19001

R1

PP

S1

19621

19266

18911

R1

PP

S1

20084

19038

17992

50 DAYS

S2
18201
S2
15900

MOVING AVERAGE

21 DAYS

NIFTY

8652

8506

8225

7908

BANK NIFTY

19072

18631

17748

16808

PARABOLIC SAR

DAILY

WEEKLY

100 DAYS

18559

MONTHLY

NIFTY

8739

8331

7161

BANK NIFTY

18773

18559

14020

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
Symmetrical Wedge Pattern Which is the Reversal trend Signal. As we have seen in last
week the Nifty is traded in the Narrow range of 150-200 points. Now it seems that trend
has reverse into the Bearish Side in the Daily Chart has Formed the Bearish candle which
is also the signal of market reversal. If the Nifty is Not able to Sustain the levels of 85508500 level we could witness the level of 8400-8350 in near Term. Move Toward the 8600
levels in upcoming will lead the Nifty to break the level of 8780-8800 could touch the
level of 8990 in upcoming week. The Crucial levels for Nifty is 8500-8480 down side and
86800-8720 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 , both the indicators break Upper or Lower Band give the
early indication of Bullish or Bearish trend of the market respectively. Thus the Bank
Nifty Chart also formed the Double top Kind of Pattern which has Break below side,
from this Point we are Expecting if the trend continue for Upcoming week and it could
touch the level of 18500-18320 in Near-Term. If we look into the Fundamental 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 1945019860 up side and 19063-18872 Down side.

NSE EQUITY DAILY LEVELS

COMPANY
NAME

R2

R1

PP

S1

S2

ACC

EQ

1681

1659

1640

1618

1599

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

83
271
1141
593
2892
165
115
144
351
576
337
165
3091
391
4600
812
1384
1265
3353
157
919
250
255
1196
1056
90
798
1474
1442
37098
4984
240
121
56
514
1039
607
54
252
173
774
530
77
378
136

80
268
1131
589
2875
162
113
141
347
571
335
162
3066
385
4567
795
1376
1261
3337
156
910
248
254
1180
1038
87
789
1451
1434
36681
4950
239
118
54
508
1033
595
53
249
171
765
517
76
374
135

79
265
1111
584
2860
159
111
140
344
567
332
160
3045
378
4537
784
1362
1257
3317
155
905
245
253
1170
1027
86
781
1435
1425
36447
4930
238
116
53
500
1023
589
52
247
169
758
501
76
370
133

76
262
1101
580
2843
156
109
137
340
562
330
157
3020
372
4504
767
1354
1253
3301
154
896
243
252
1154
1009
83
772
1412
1417
3603
4896
236
113
51
494
1017
577
51
244
167
749
488
75
366
132

75
259
1081
575
2828
153
107
136
337
558
327
155
2999
365
4447
756
1340
1249
3281
153
891
240
251
1144
998
82
764
1396
1408
35796
4876
235
111
50
486
1007
571
50
242
165
742
472
75
362
130

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

GAIL INDIA LTD.

363

378

AURO PHARMA

765

789

CIPLA LIMITED

556

567

BHARTI INFRA

342

346

RELIANCE

1014

1027

ITC LIMITED

250

253

DR. REDDYS LAB

3010

3040

ASIAN PAINTS

1113

1123

HDFC BANK

1247

1257

ZEEL

503

506

BHARAT PETRO

593

595

MARUTI SUZUKI

4900

4920

IDEA CELLULAR

93

94

KOTAK BANK

778

780

ALKEM LAB

1538

1542

//
% CHANGE

+4.05 %
+3.25 %
+1.88 %
+1.31 %
+1.28 %
+1.14 %
+1.00 %
+0.88 %
+0.80 %
+0.53 %
+0.43 %
+0.42 %
+0.37 %
+0.30 %
+0.30 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

TATA STEEL

392

369

-5.79 %

WIPRO LTD.

520

490

-5.79 %

ADANI PORTS

273

257

-5.62 %

NTPC

166

157

-5.31 %

SBIN

258

246

-4.60 %

L&T

1494

1427

-4.49 %

LUPIN LIMITED

1576

1512

-4.06 %

AMBUJA CEMENT 276

266

-3.73 %

SUN PHARMA

783

755

-3.64 %

10

ICICI BANK

253

245

-3.39 %

11

ULTRATECH CEM 3926

3803

-3.13 %

12

ACC

1691

1638

-3.12 %

13

TCS

2603

2524

-3.02 %

14

TATA POWER

78

75

-2.95 %

15

TECH MAHINDRA 473

459

-2.80 %

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )

NSE CASH : BUY BANKINDIA NSE CASH ABOVE 116 TGT 123 SL 113.
NSE CASH : BUY JETAIRWAYS NSE CASH ABOVE 540 TGT 570 SL 518.
NSE CASH : BUY TITAN NSE CASH ABOVE 410 TGT 445 SL 397.
NSE FUTURE
NSE FUTURE : BUY TATASTEEL FUTURE ABOVE 375.70 TGT 385.70 SL 370.70
NSE FUTURE : BUY ICICIBANK FUTURE ABOVE 248.20 TGT 254.20 SL 245.20
NSE FUTURE : BUY ULTRACEMCO FUTURE ABOVE 3836 TGT 3916 SL 3796

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK
Reforms to aid growth; banking sector risks remain: Moody's - Moody's Investors
Service said continued reforms to enhance business environment and moderate inflation
will help India achieve robust growth but cautioned that rising contingent liability risks in
the banking sector could affect its credit quality. Evidence of success in policymakers'
efforts to introduce growth-enhancing economic and institutional reforms would provide
support for a rating upgrade, Moody's said in its Annual Credit Analysis as it forecast
GDP growth at around 7.5 per cent for next two years, "Sustained fiscal consolidation,
stable inflation at moderate levels and progress on reforms aimed at enhancing the
business environment would contribute to sustained growth at robust levels. In turn,
persistent income and profit growth would raise government revenues and contribute to
improved fiscal metrics. However, we expect the benefits to be very gradual," Moody's
said.
July private equity investments slump as big-ticket deals vanish - Private equity deal
momentum saw a significant downtrend in July with deals worth $ 768 million,
registering a decline of 73 per cent over the same period a year ago, largely due to
absence of big-ticket deals. According to assurance, tax and advisory firm Grant
Thornton, there were 86 PE deals worth $768 million in July this year while in the
corresponding period last year, there were 111 transactions worth $ 2,839 million. "PE
investments witnessed a downward trend both in terms of volumes 23 per cent year-onyear and values 73 per cent y-o-y, marking the month's lowest investment values in the
last three years due to absence of big-ticket investments only 3 investments above $50
million compared to 11 in July 2015," the report said.
Overall global investment in fintech companies totaled $ 99.4 billion, shows report Global investments in fintech companies across both venture-backed and non-venturebacked companies totaled $ 9.4 billion in the second quarter of this year, says a report.
However, investment directed to VC-backed financial technology startups fell 49 per
cent, the report said. According to the Pulse of Fintech, the quarterly global report on
fintech VC trends published jointly by KPMG International and CB Insights, despite this
decline, VC investment in fintech is on pace to exceed 2015 results. "Despite VC-backed
funding to fintech decreasing in Q2, overall fintech funding remains on track to surpass
2015 levels," says Ian Pollari, Global Co-Leader of Fintech, KPMG International.

Government expects tax revenues to increase after GST roll-out - The government
expects its tax buoyancy to increase after the goods and services tax is rolled out, a sharp
contrast to many experts warning of disruptions in tax machinery and slower revenue
growth in the initial years of this tax reform. In the medium term expenditure framework
released last week the government expects higher economic growth, GST and other
policy measures to help lift gross tax revenues to 10.9% of gross domestic product in
FY18 and 11.1% of GDP in FY of GDP in FY19. The Centre's tax-to-GDP ratio was
10.7% in FY15, almost same as projected 10.8% for the current fiscal.
Ind-Ra upticks GDP forecast to 7.8%; growth on but not speedy - Ind-Ra has revised
India's economic growth forecast to 7.8 per cent for the ongoing fiscal on better monsoon,
but said the economy is just "chugging along" despite the euphoria emerging after the
formation Modi government at the Centre. "India Ratings and Research has revised its
gross domestic product estimate for 2016-17 upwards to 7.8 per cent from its earlier
forecast of 7.7 per cent. The upward revision has been prompted by the progress of
monsoon and the sowing of kharif crop so far," the ratings agency said in its research
report on 'Review of the Economy'. With the area under kharif crop sowing 5.7 per cent
higher than a normal area so far, it said the agency expects the farm gross value added to
grow 3 per cent in the current fiscal as against 2.8 per cent forecasted earlier.
India should allow migration of China's excess manufacturing' - India should shed its
concerns over pollution and allow Chinese industries to shift their excess capacity to it
which would be benificial to both countries, state media here said. "India may need to
carefully think about whether it wants to resist or embrace the migration of China's
production capacity, which allegedly involves some investment in heavy polluting
industries," an article in the state-run Global Times said. Referring to reports of China
Railway Rolling Stock Corporation starting operations at its joint venture plant in
Haryana to manufacture and repair locomotives, it said, "the partnership is hardly
surprising seeing as India has one of the world's largest railway network, creating a huge
demand for engines and other railway equipment".

TOP ECONOMY NEWS

Income tax collection from the Mumbai zone, which sends one-third of the total direct tax
collections, grew by around 9% to Rs. 671.85 billion in April-July, driven by a massive
spike in advance collections from individuals.

For the second-straight month, India trimmed its holdings of American government
securities to USD 117.2 billion in June.
The Ministry of Railways has opted for a slab-wise revision of its coal freight based on
distance. Through this, there would be a 8-14% rise on coal freight rates for distances
between 100-700 km.
India's total installed solar capacity has grown by over 80% in the last 12 months to reach
8.1GW. Out of the 3.6 GW capacity added in this period, 2.7 GW has come from four
southern states with Tamil Nadu alone adding over 1.2 GW. These six states account for
80% of the capacity added in India.
India is renegotiating over a two-decade old tax treaty with Singapore and the revised
protocol will take into account the concerns of both.
The Union Cabinet gave its nod for signing of revised double taxation avoidance
agreement with Cyprus, a popular tax haven.
Domestic crude oil output fell 1.81% in July 2016 but natural gas output rose 3.27%.
The National Payments Corporation of India said the Unified Payments Interface will go
live for customers of 21 banks.
The Reserve Bank of India announced a slew of changes in fixed income and currency
markets such as allowing lenders to issue 'masala bonds' and to accept corporate bonds
under the liquidity adjustment facility.
The government is set to seek formal Cabinet approval for shutting down seven stateowned companies, with their respective line ministries apparently agreed. This would be
the first time that approvals for closing so many public sector undertakings is being
sought in one go.

TOP CORPORATE NEWS A green panel has deferred its decision on granting environment clearance to Indian Oil
Corporations Rs. 5.93 billion Styrene and Ethylene project at Panipat in Haryana, for
want of more information.

Apollo Tyres has said it is planning to invest around Rs. 16-17 billion during the current
fiscal, a major chunk of which will be for its Chennai facility. Additionally, it plans to
spend about EUR 200 million on its Hungary greenfield facility for the fiscal 2017.
Sun TV Network Limited said that it is confident on receiving approvals from the
Centre for its FM radio business, in which company invested around Rs. 6.20 billion.
Earlier, the Ministry of Broadcasting of the Government of India has refused to accept its
applications and the issue was a matter of dispute in various courts.
Tata Powers 50:50 joint venture with Exxaro Resources in South Africa, Cennergi
announced commencement of commercial operations for its 95 MW Tsitsikamma
Community wind farm project.
Manappuram Finance said it plans to raise Rs. 750 million through secured redeemable
non-convertible debentures.
Competition Commission has cleared IT company HCL Technologies' equity swap deal
to buy the business of Geometric Ltd.
Srei Infrastructure Finance Limited said it will raise Rs. 10 billion through a public
offer of non-convertible debentures.
Hindustan Petroleum Corp Limited and GAIL India Ltd will divest up to 50% stake
in the Rs. 300 billion petrochemical plant which is being set up in Andhra Pradesh.
ONGC Videsh Limited, the overseas arm of Oil and Natural Gas Corp, has received
one-year extension to explore a Vietnamese oil block in the contested waters of the South
China Sea.
Vodafone Group Plc's Indian arm is in exploratory talks around a possible merger with its
smaller domestic rival Idea Cellular.
Castrol India Limited, a unit of oil major BP Plc, is selling an up to USD 261 million
stake in Castrol India Limited in a block trade.
Reliance Communications has launched content delivery network 'Fast Edge' for faster
delivery of web content to users.

Honeywell launched a state-of-the-art electro Magnetic Interference and Electro Magnetic

Compatibility Lab at Honeywell Technology Solutions centre in Hyderabad.
Lupin Limited has received approval from the Central Drugs Standard Control
Organisation for Acotiamide 100 mg tablets used for treatment of indigestion.
IL&FS Engineering Services along with its joint venture partner Unitech Power
Transmission has bagged a contract worth Rs 1.36 billion from Power Grid Corporation
for a project in Gujarat.
Jindal Steel and Power Limited has secured long-term coal linkage of 1.18 mtpa for
power plants in Chhattisgarh.
Reliance Industries, has asked its 40,000-plus employees to stop using phones
connections of existing operators, like Airtel and Vodafone, and instead switch to its
own high-speed 4G Jio.
GAIL India Limited signed a memorandum of understanding with California-based
Bloom Energy for developing natural gas-based fuel cell power generation.
Tata Motors Distribusi Indonesia , a Tata Motors unit, has launched two newgeneration commercial vehicles in Indonesia - Tata ULTRA 1012 light truck and Tata
Xenon XT D-Cab 4x4 pick-up - at the Gaikindo Indonesia International Auto Show 2016.
Birla Corporation has completed acquisition of cement business, a wholly-owned arm
of flagship Reliance Infrastructure, for an enterprise valuation of about Rs. 48 billion.
JK Tyre has become the first Indian company to roll out 10 million truck/bus radial
tyres.
Lupin Limited said its subsidiary Gavis Pharmaceuticals has received approval from
the US health regulator to market generic linezolid tablets used for treating bacterial
infection in the American market.
New Delhi Television has got partial relief from Income Tax Appellate Tribunal in a case
related to payment of income tax. The ITAT has disallowed a tax claim by the Income
Tax department in excess of Rs. 220 million from the Delhi-based media company for the

assessment years 2007-08 and 2008-09.

ITC Limited has filed a case against Britannia Industries, claiming NutriChoice
Digestive Zero brand has copied the packaging of ITC's Sunfeast Farmlite Digestive All
Good biscuit.
Oil and Natural Gas Corp has awarded a multi-milliondollar frame agreement to US
energy giant GE Oil & Gas, under which the latter will support the state firm's
exploratory drilling campaign in shallow to medium waters for the next three years.
Tata Global Beverages may restructure China operations.
Jubilant Life Sciences has received approval from the US health regulator for
Telmisartan tablets, used for the treatment of hypertension, in the American market.
Strides Shasun has received approval from the US health regulator for Ranitidine tablets
used for treating intestinal and stomach ulcers and gastroesophageal reflux disease.
Tata Steel Limited has started exports of ferroshots from its steel plant at Kalinganagar
in Odisha.
Tata Consultancy Services, has settled an ongoing law suit with Orange County,
California. The company has paid USD 26 million to settle the three-year long dispute.
The Board of Directors of Nava Bharat Ventures Limited have approved sale of 100%
shares of Nava Bharat Lao Energy Pte Limited.
8K Miles Software Services Ltd announced its plans to raise Rs. 5 billion through a mix
of instruments including issue of equity shares or convertible bonds through qualified
institutional placement, among others.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Urjit Patel should count himself lucky. He will probably be the only Reserve Bank
governor since 1992 to be taking charge when there is calm on the macroeconomic front.
C Rangarajan from 1992 to 1997 had to tackle a macroeconomic mess, his successor
Bimal Jalan 1997-2003 had to face the Asian crisis. YV Reddy 2003-2008, after a point,

had to deal with surging capital flows, and D Subbarao 2008-2013 was busy tackling
one crisis after another throughout his stint. For Raghuram Rajan, it was the currency
crisis and, later, the problem of non-performing assets that afflicted state-run banks. In
that sense, the path appears relatively smooth for Patel except for the state of banks,
which is probably at its worst. Patel will have to carefully navigate the banking landmine.
Setting an ambitious target of having five million customers by 2020 and to become the
No 3 player in the extremely competitive industry, mid-sized lender Yes Bank Limited
made a foray into the credit card market. At a time when lenders are playing it safe by
sticking to their own customers to sell credit cards, the bank plans to go all out seeking
customers from outside for the unsecured lending product. "Credit card is central to our
customer acquisition plans. We don't believe there is anything like an internal customer or
an external customer," the bank's senior group president for retail and business banking
Pralay Mondal said.
State Bank of India will not need fair trade regulator CCI's approval for merging 5
associates and Bhartiya Mahila Bank with itself, a move that will create a global sized
bank with an asset base of Rs. 30 trillion.
The Gross Non-Performing Assets or bad loans, of Indias State Run Banks, Measured as
a percentage of their Advances, have ballooned 5.4 as on march 2015 to 11.3 per cent 15
months latter. As per the data Available with Reserve Bank of India. In Contrast, Such
bad loans of Private Banks or Foreign Entities in the Industry. Rose a relatively less
dramatic manner - from 2.2 percent to 2.8 percent for the former and from the 3.2 percent
to 3.7 per cent for the latter.
Private sector lender IndusInd Bank Limited has tied up with IBM to use its Cloud
commerce solutions to transform customer engagements and enhance its cross-sell
platforms. As a part of a three year strategic agreement, IBM will provide a cloud and
predictive analytics based multi-channel campaign management solution that enables
IndusInd Bank to strengthen its online banking presence while improving the product
holding per customer. In the highly competitive Indian retail banking space, businesses
need digital marketing solutions capable of sifting through large amounts of transactional
and interaction data from various touch points as well as strong analytical capabilitie.
IndusInd Bank has tied up with IBM to use its Cloud commerce solutions to transform
customer engagements and enhance its cross-sell platforms.

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