TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Market has kick started the week on a strong note supported by Index heavyweight.

The Nifty is up 50 points or 0.7 per cent at 7784. Asian stocks open mixed, as oil prices rallied on supply

outages in Canada. The Chinese economy is showing fresh sign of stability amid a broader slowdown. The

Market is fluctuating in a band after the sharp run-up over the past 2-3 months. We are expecting the

short-term trend will be dictated by the remaining quarterly numbers and further announcement on

monsoon apart from global cues. What would determine the market movement for short-term is how

global market react to the rebound ,that we are seeing because of the US data. Although the Volatility in

the market will be continue Nifty may consolidate between 7600 to 8000 levels. With Nifty50 at 7900 on a

closing basis. We are heading for the 8000-8150 levels. The open Interest on 7900-8000 are very high and

they are still showing outstanding position it will be very difficult for Nifty to cross the level of 8000. The

Strong Support for Nifty is 7800-7700 and Resistance is 8050-8160.

BANK NIFTY : - The Bank Nifty has opened positive on Monday at 16357 up by 61 points or 0.4 per cent.

The Finance Ministry has said that the Fresh capital to Public Sector Banks will be linked to their

Performance , especially Recovery done by them, official have conveyed to Banks in an Interaction. The

Reserve Bank of India may face serious challenge from the softer interest rate regime when it come to

managing cash or liquidity in the system. The Reserve Bank of India has cautioned Banks from lending

more to power distribution companies or Discom in a recent letter to select state owned banks the

Regulator has advised them to exercise caution in giving new loans to the utilities remind them that any

additional exposure to Discom. The Nifty Trend seen bull side on technical basis. We could see the good

rally in Public Sector Banks in upcoming week. The Crucial levels for Bank Nifty is 16690-16700 down side

and 17150-17260 is up side.

TECHNICAL VIEW : NIFTY FUTURE

NIFTY FUTURE R2 R1 PP S1 S2

DAILY 8085 7951 7884 7817 7683

WEEKLY 8299 7973 7810 7647 7321

MONTHLY 8445 8025 7815 7605 7185

TECHNICAL VIEW : BANK NIFTY

BANK NIFTY R2 R1 PP S1 S2

DAILY 17883 17165 16806 16447 15729

WEEKLY 18890 17338 16562 15786 14234

MONTHLY 18935 17397 16628 15859 14321

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY FUTURE 7813 7696 7588 7837

BANK NIFTY 16504 15999 15722 16638

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY FUTURE 7956 7379 6840

BANK NIFTY 17038 14574 17596

PATTERN FORMATION ( NIFTY )

Detail of Chart -

On the Above given chart of Nifty has applied the Parabolic SAR along with Moving Average Conversion &

Diversions 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 for more than the week period and it is not able to

break the up level. However in upcoming trading session it could come back the level which is the strong

Resistance for the Nifty50 around 8000. Now we are expecting that if the Nifty is able to sustain the 7850

level we may witness the Bullish trend of Nifty for some more sessions on the other hand if Nifty rebound

the 7800-7850 level again we may see the positive rally in the index. The Strong Support for Nifty50 is 7800-

7750 and the Resistance is 7950-8000.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given chart of Bank Nifty has applied the Channel line along with MACD 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 is not able to break the up level.

However in upcoming trading session it could break the upper level which is the strong Resistance for the

Nifty50 around 16700. Now we are expecting that if the Bank Nifty is able to sustain the 16700 level we may

witness the consolidation trend of Bank Nifty for some more sessions on the other hand if Bank Nifty rebound

the 16700-16900 level again we may see the positive rally in the index. The Strong Support for Bank Nifty is

16500-16350 and the Resistance is 16900-17200.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2

ACC EQ 1472 1464 1453 1445 1434

ALBK EQ 54 53 53 52 51AMBUJACEM EQ 224 222 219 217 214ASIAN PAINT EQ 958 947 937 926 916AXISBANK EQ 501 496 491 486 481BAJAJ- AUTO EQ 2566 2549 2529 2512 2492BANKB ARODA EQ 159 158 156 154 152BANKINDIA EQ 88 87 86 86 85BHEL EQ 128 126 124 122 120BHARTIARTL EQ 367 363 358 354 349CIPLA EQ 542 537 534 529 526COALINDIA EQ 287 285 281 279 276DLF EQ 132 128 125 121 117DRREDDY EQ 2971 2940 2912 2881 2853GAIL EQ 407 397 377 367 347GRASIM EQ 4331 4301 4232 4202 4133HCLTECH EQ 735 729 721 715 707HDFC EQ 1225 1202 1180 1157 1135HDFCBANK EQ 1159 1153 1141 1135 1123HEROMOTOCO EQ 2976 2953 2924 2901 2872HINDALCO EQ 96 94 91 89 87HINDUNILVR EQ 870 857 839 826 808ICICIBANK EQ 234 232 227 225 220ITC EQ 325 322 319 316 313INDUSIND BANK EQ 1076 1069 1062 1055 1048INFY EQ 1219 1215 1203 1199 1187JINDALSTEL EQ 66 65 63 62 60KOTAKBANK EQ 739 728 718 707 697LT EQ 1333 1315 1298 1280 1263M&M EQ 1349 1337 1320 1308 1291MRF EQ 33789 33429 33140 32780 32491MARUTI EQ 3902 3877 3853 3828 3804ONGC EQ 208 206 204 202 200ORIENTBANK EQ 85 84 83 82 81RCOM EQ 55 54 52 51 49RELCAPITAL EQ 417 410 400 393 383RELIANCE EQ 998 991 983 976 968

RELINFRA EQ 553 539 523 509 493RPOWER EQ 51 51 50 49 48SBIN EQ 190 188 186 184 182SSLT( VEDL) EQ 105 102 100 97 95SUNPHARMA EQ 812 807 799 794 786TATAMOTORS EQ 399 395 390 386 381TATAPOWER EQ 72 71 70 69 68TATASTEEL EQ 333 328 325 320 317UNIONBANK EQ 132 129 123 120 114

NEXT WEEK STARS (AS PER TECHNIC AL ANALYSIS PRIDIC TION)

NSE C ASH

1. NSE CASH : BUY GODREJPROP NSE CASH ABOVE 328 TGT 357 SL 319.

2. NSE CASH : BUY ITDCEM NSE CASH ABOVE 141 TGT 154 SL 137.

3. NSE CASH : BUY RAYMOND NSE CASH ABOVE 472 TGT 516 SL 457.

4. NSE CASH : BUY GPPL NSE CASH ABOVE 165 TGT 180 SL 160.

5. NSE CASH : BUY RAMCOCEM NSE CASH ABOVE 496 TGT 541 SL 481.

NSE Future

1. NSE FUTURE : BUY PETRONET FUTURE ABOVE 285 TGT 288 SL 283

2. NSE FUTURE : BUY TATAELXSI FUTURE ABOVE 1925 TGT 1945 SL 1910

3. NSE FUTURE : BUY YESBANK FUTURE ABOVE 968 TGT 978 SL 960

4. NSE FUTURE : VEDL FUTURE ABOVE 102.50 TGT 104 SL 101.50

5. NSE FUTUR E : SELL ORIENTBANK FUTURE BELOW 83 TGT 81 SL 84.50

NSE - WEEKLY NEWS LET TERS

TOP NEWS OF THE WEEK

Indirect tax mop up grows 41% to Rs 64,394 crore in Apri l - Indirect tax collections witnessed

an increase of 41 per cent to Rs 64,394 crore mainly on the account of spurt in central excise realisation.

Revenue Secretary Hasmukh Adhia said excise duty mop up in April spurt by 70 per cent to Rs 28,252 crore

as against Rs 16,546 crore in the year-ago month. "Provisional revenue figures for indirect tax for April

2016 are Rs 64,394 crore, a 41 per cent growth over April 2015 of Rs 45,417 crore," Adhia said.

RBI wil l ing to unveil details of large borrowers, albeit for investigative agencies - The

Reserve Bank of India seems to be willing to make public the names of loan defaulters to the government

albeit on certain conditions. The central bank is open to disclosing the details of borrowers to the

government who have taken large loans of over Rs.5 crore. Moreover, RBI would share details of such

defaulters in case the information is sought by vigilance and investigative agencies, or for court cases, as

per the report.

India's fundamentals strong to attract investment: Shaktikanta Das - Ministry of Finance

said India will continue to attract investments because of the inherent strength and the return it offers to

investors. Amid concerns on how markets will react to the decision taken by India to tax capital gains from

Mauritius, Economic Affairs Secretary Shaktikanta Das said international community is moving away from

countries with zero tax regime. "India continues to be a robust economy and investments will come in

because of fundamentals of the economy and because of the strength and resilience of the economy and

return that India offers post tax," Das said.

Mauritius treaty amendment: Status quo on Participatory Notes taxation - India’s revised

tax treaty inked with Mauritius will have no bearing on investments via Participatory notes and the

existing dispensation will continue to apply on them government said. It also sees no impact on foreign

investment inflows on account of the revision. Revenue Secretary said.

Impact of drought on economy pegged at Rs. 6,50,000 Crore - Drought in 10 state is estimated

to impact the economy by at least Rs. 6,50,000 crore as about 33 crore people across 256 district are facing

the grave situation , a study has revealed. Due to two consecutive years of poor monsoon, water shortage

in reservoir as well as lowering of ground water table has created a serious challenge for the drought

affected areas in 10 states like Karnataka and Mahabharata the study by Assocham.

India well -Placed to maintain high growth despite drought, external pressures : UN

Report - In a world economy still ensnared in a low-growth trap, India is well-placed to maintain its high

growth rate despite the drought and the external pressures, according to UN analysts. The UN's mid-2016

report on the World Economic Situation and Prospects paints a "bleak picture" of the global economy

projecting a growth rate of 2.4 per cent this year and 2.8 per cent next year with little prospect for a turn

around, Lenni Montie, the Assistant Secretary-General for Economic Development, told reporters Thursday

after its release. In contrast, the report expected India to grow by 7.3 per cent this year and 7.5 per cent

next year, the strongest gross domestic product growth rate for large economy.

Raghuram Rajan says core inflation a bit higher than desired - India's core inflation remains

sticky and a bit higher than policymakers would like to see, Reserve Bank of India governor Raghuram

Rajan said on Friday. "Broadly core inflation has a been fairly sticky, a bit higher than we would want. It

hasn't moved up and down. We will continue on the task of anchoring expectations," Rajan said, speaking

at an event at the Chicago Booth business school in London. Rajan also said India was in the midst of a slow

recovery though there were signs of faster growth, with possible acceleration coming from a good

monsoon.

PEs, VCs may eye new tax havens l ike Sweden and Cyprus as Government tweaks

Mauritius pact - With India deciding to impose capital gains tax on investments coming from Mauritius

starting next year, private equity and venture capital funds may choose to structure investment through

other tax havens. But there too, they may take a close look at the special purpose vehicles that carry the

investments as there are fears that all such tax treaty may be amended. Fund managers and lawyers expect

high cost jurisdictions like the Netherlands, Sweden or even volatile countries like Cyprus as the next

destinations for routing India-specific investments. However, there will still have a significant impact on

private capital as most of the PE and VC investments are into unlisted companies, where capital gains will

be taxed at 40%, they said.

TOP ECONOMY NEWS

A Parliamentary panel has asked the Information and Broadcasting Ministry to consider the issue of long-

term financial support to Indian manufacturers of Set Top Boxes to help them face competition from

Chinese companies.

Project cost of as many as 238 infrastructure projects, monitored by the Statistics Ministry, have overshot

by Rs 1.6 trillion from their original estimates due to delays on account land acquisition forest clearances

and other reasons.

Steel consumption in India fell to 5.75 million tonnes in April, the lowest since the same month in 2015,

dealing a fresh blow to domestic manufacturers already battling cheap imports.

Iron ore traffic including pellets, at major ports, saw a sharp fall of 28.13% in the last fiscal as imports

declined heavily and hinterland movement of the ore was subdued because of weak demand.

Passenger car sales in India rose 1.87% in April on popular new models like Maruti Baleno and Renault

Kwid, although a subdued rural market continued to affect the overall sentiment according to the Director

General of Society of Indian Automobile Manufacturers .

Odisha government, which is giving final touches to its business process outsourcing policy, aims to create

10,000 BPO seats in the state, especially in the rural pockets.

Finance Minister Arun Jaitley reportedly said India can grow better and faster on the back of global

recovery and good monsoon.

Five leading Indian-owned businesses in the United Arab Emirates will invest over $3.68 bn in

infrastructure and industrial development initiatives in Uttar Pradesh after an MoU was signed in this

regard during an investment forum.

The Protocol for amendment of the Convention for the avoidance of double taxation and the prevention

of fiscal evasion with respect to taxes on income and capital gains between India and Mauritius was signed

by both countries today at Port Louis, Mauritius.

Corporate India's merger and acquisition activity witnessed a significant uptrend in April and touched

$3.64 billion, over two-fold jump over the corresponding period last year.

Government has initiated a probe into dumping of certain radial tyres from China that are used in buses,

lorries and trucks and may end up imposing duty on them to protect the domestic industry.

The state of Tamil Nadu has been placed on top in terms of growth in live investments attracted by the

irrigation sector. Compounded annual growth rate was over 32%.

The Parliament has passed the Insolvency and Bankruptcy Code. Finance Minister Arun Jaitley moved the

Insolvency and Bankruptcy Bill in Rajya Sabha on Wednesday for debate and passage. After a brief debate,

the Upper House passed the Bill.

Telecom operators owe the government Rs. 548 billion in licence fee, spectrum charges and arrears, of

which Rs. 443 billion is under litigation, Telecom Minister said.

India will file 16 cases against the US for violating WTO treaties as certain programmes of the western

country in the renewable energy sector are "inconsistent" with global norms, Parliament was informed.

Indirect tax collections jumped 42% in April on sharp rise in excise collections owing to increased duty on

petrol and diesel.

Iran has ended free shipping of crude oil to India and has asked refiners like Mangalore Refineries and

Essar Oil to arrange for freight, Oil Minister said.

The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for signing of a

Memorandum of Understanding between Securities and Exchange Board of India and Financial Services

Regulatory Authority, Abu Dhabi for mutual co-operation and technical assistance between the two

regulators.

In dismal news for the economy retail inflation , as measured by the Consumer price Index , reversing the

trend rose sharper than expected at 5.39 per cent for April compare to 4.83 in march. These numbers were

way higher that street expectation of a numbers above 5 per cent and something which definitely does not

augur well for the economy Specially for the Reserve Bank of India.

The India Meteorological Department, as well as Skymet, have made a forecast of "above normal"

monsoon this year. Monsoon will hit Kerala between May 28 and 30, two-three days before its normal

onset date of June 1, private forecasting agency Skymet said.

TOP CORPORATE NEWS -

Buoyed by sale of over 100,000 vehicles equipped with auto gear shift, Maruti Suzuki Limited plans to

offer this technologies in more models sold in the domestic market.

Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed

commercial assets worth Rs 15 billion during this fiscal as the realty firm seeks to achieve higher growth.

ITC Limited cigarette factories have resumed production in a phased manner with the specified 85%

graphical warning pending hearing by the Karnataka High Court.

Kalyan Jewellers is aiming for a turnover of INR 13,000 crore in the current fiscal year.

Emami Limited is aggressively looking at acquisitions in India and abroad, Chief Financial Officer N.H.

Bhansali has said.

The state-run Steel Authority of India Limited would curtail the strength of its workforce in a move

aimed to reduce the manpower cost in the company.

Public lender Bank of Baroda and Max Bupa, a specialist health insurer, today put in place a

bancassurance corporate agency agreement.

Eicher Motors, the maker of Bullet motorcycle has announced plan to invest Rs 10 billion in FY-17 to

fund its expansion plans.

ONGC Limited crude oil production has risen for the second consecutive year in 2015-16 but natural gas

output continues to decline.

Sun Pharmaceutical Industries has launched an innovative mobile app to connect doctors with

asthma patients.

L&T Finance Holdings Ltd plans to sell private equity and proprietary investments worth over Rs 8bn to

unlock value in current financial year.

Infosys Foundation, philanthropic arm of Infosys, has signed a pact with Indian Institute of Science

Education and Research , Pune, to support students from economically weaker section to pursue 'high

quality' education.

Crompton Greaves has signed a share purchase agreement with First Reserve International, a US

private equity fund for an enterprise value of 115 million euros.

UltraTech Cement has received approval from the board of directors to hike the registered foreign

portfolio investors limit to up to 30 % from existing 24 per cent.

Crompton Greaves has launched a smart ceiling fan which could sense the temperature in the room and

change the speed accordingly, in order to accelerate its growth in a fan market which is growing at a slow

pace.

Tata Steel has achieved a major breakthrough in its industrial park being developed at Gopalpur in

south Odisha with the project getting the status of a Special Economic Zone .

Kotak Mahindra Prime said Tuesday it will raise Rs 500 mn by issuing debentures on a private placement

basis.

Maruti Suzuki l imited has urged its component suppliers to make investment for the future as the

company's requirements are expected to grow, with it predicting double-digit expansion in annual sales at

least until 2020.

Emami Ltd. has relaunched male fairness cream Fair and Handsome to consolidate its share in the Indian

market, for which it will launch a new advertising campaign with its brand ambassador Shah Rukh Khan.

The government has asked global automotive technology companies Bosch and Cummins to provide

retrofitting technology to convert old diesel vehicles into electronic vehicles.

Havells India Ltd. on Tuesday said Karnataka Industrial Areas Development Board has allotted land

admeasuring 62 acres to it at Vasanthanarasapura Industrial Area, Tumkur, Karnataka, for establishing a

unit for manufacturing of cable & wire, MCB, LED, electronics, solar lights at a tentative rate of Rs 4.03

mn/acre.

Adani Power has raised Rs. 3.3 billion by allotments of non-convertible debentures on a private

placement basis.

Vedanta Resources has pegged its aluminium production cost below the level of US$ 1400 a tonne in

this financial year, aiming to close in on the gap with global producers like Rusal, Rio Tinto Alcan and

Norsk Hydro.

Sterl ite Technologies has won the Jaipur Smart City Phase - II Project. Jaipur was selected under the

Smart City Mission of the Ministry of Urban Development launched in 2015. This is Sterlite's second smart

city project win.

Reliance Jio Infocomm, Reliance Industries subsidiary, has launched its digital wallet service,

JioMoney Wallet, for Indian consumers, following the introduction of 4G services to the public through an

employee-driven invite system.

Hit hard by the retrospective tax, Cairn Energy plc of UK has offered to pay 15% of the Rs. 102 billion

principal amount in return for government lifting freeze on the 9.8% shares it holds in its erstwhile

subsidiary, Cairn India.

Zydus Cadila has received final approval from the US health regulator to market anti-diabetic Glyburide

tablets in the American market.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Lakshmi Vilas Bank new chief executive has drawn up an ambitious 10-year plan to revitalise business

and has set up big targets to improve performance on a variety of operational parameters.

The Reserve Bank of India may face serious challenge from the softer interest rate regime when it comes

to managing cash or liquidity in the system as significant fund flows could create a vacuum between

September and November this year.

Fresh capital to PSU banks will be linked to their performance, especially recoveries done by them — this is

the message that finance ministry officials have conveyed to banks in an interaction recently, said senior

bank officials.

Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said

even as he appeared favouring their case for easing of strict capital control measures to boost growth.

Kotak Mahindra Bank announces rise in earning at a time when most Indian Bank’s Profitability has

been marred by high levels of bad loans and Provisions Kotak Mahindra Bank Earning reflect the rise of

yet another Superior class Bank despite the Challenging time.

The Reserve Bank of India has cautioned Banks from lending more to power distribution companies or

dis com in a recent letter to select state owned banks the Regulator has advised them to exercise caution in

giving new loans to the utilities remind them that any additional exposure to Discom.

Public sector banks continue to report poor earnings on the back of worsening asset quality. Bengaluru-

headquartered public sector lender Vijaya Bank on Thursday reported a 26% drop in net profit for the

fourth-quarter ended March 2016 at Rs 71.3 crore on account of higher provisioning.

Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said

even as he appeared favouring their case for easing of strict capital control measures to boost growth. The

outspoken Governor also likened the situation in India to that of small and medium enterprises in

industrial countries, saying a need for faster growth is the central factor in both scenarios.

This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment

Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital

Equity/Commodities Research assessment and have been obtained from sources believed to be reliable.

This document is meant for the use of the intended recipient only.

This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for

general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees

shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities

Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in

this connection. This document is not to be considered as an offer to sell or a solicitation to buy any

securities or commodities.

All information, levels & recommendations provided above are given on the basis of technical &

fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for

errors of opinion. People surfing through the website have right to opt the product services of their own

choices.

Any investment in commodity market bears risk, company will not be liable for any loss done on these

recommendations. These levels do not necessarily indicate future price moment. Company holds the right

to alter the information without any further notice. Any browsing through website means acceptance of

disclaimer.