TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Market has opened in a Negative bias on Monday with the Equity

benchmark Nifty 50 was down 22 points or 0.25 percent at 8519. The Nifty 50 reversed a

trend in Monday trade and surged nearly 100 points to hit a fresh 52 week high of 8641.

The US Federal Reserve Policy maker took a step toward interest rate hikes this year but

stopped short of signaling that the move could come as soon as September. The Fed Left

the benchmark Policy rate unchanged. The Goods and Services Tax bill move one step

closer to reality, as the Union cabinet approved most of the amendments to the bill

suggested by the Opposition Party. These will be the Positive trigger for the market ahead.

The Nifty50 has been moving between 8475-8600 levels from the last nine trading

sessions and the range breakout has now opened the scope for a potential upward move

toward 8700-8800 level in near Term. The Crucial levels for Nifty for Next week is 8703-

8751 up side and 8560-8470 is down side.

BANK NIFTY : - The Bank Nifty has Opened in a Negative bias on Monday down by 96

points or 0.50 per cent at 18594. The Reserve Bank of India Governor Raghuram Rajan

has said, The Government should ignore the high decibel noise against Prudent Monetary

Policies by vested interests in the interest of sustained Economic Growth. The

Government has asked the state run lenders to leverage the Rs. 22,915 crore. Capital it

provided them last week to raise more funds saying the banks should come up soon with

detailed plans on raising capital through public offering bonds and sale of Non-core

Assets. The Moody’s investors Investors Services has said the Govt. Rs. 22,915 crore

equity infusion will provide some respite to the Public Sector Banks but their capital need

are significantly higher than the budgeted amount. The Bank Nifty Technically seems Bull

side around 19570-19850 for next week. The Crucial levels for Bank Nifty is 18750-18900

down side and 19150-19300 is up side.

Monday, 01 August 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8725 8669 8641 8613 8557

WEEKLY R2 R1 PP S1 S2

9027 8749 8610 8471 8193

MONTHLY R2 R1 PP S1 S2

9657 8907 8532 8157 7407

BANK NIFTY

DAILY R2 R1 PP S1 S2

19443 19189 19062 18935 18681

WEEKLY R2 R1 PP S1 S2

20575 19471 18919 18367 17263

MONTHLY R2 R1 PP S1 S2

22450 19954 18706 17458 14962

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY - - - -

BANK NIFTY - - - -

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 78189 8024 7991

BANK NIFTY 17680 17185 17062

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 8480-

8350 down side and 8580-8640 is Upside.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On 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 18650-

18470 down side and 18950-19200 is Upside.

NSE EQUITY DAILY LEVELS

COMPANY

NAME

R2 R1 PP S1 S2

ACC EQ 1720 1685 1676 1666 1656

ALBK EQ 81 79 78 77 76AMBUJACEM EQ 275 272 266 260 254ASIAN PAINT EQ 1201 1163 1116 1078 1031

AXISBANK EQ 558 549 543 534 528BAJAJ-AUTO EQ 2729 2704 2685 2660 2641

BANKBARODA EQ 157 156 154 153 151BANKINDIA EQ 115 113 112 110 109

BHEL EQ 153 150 149 146 145BHARTIARTL EQ 389 378 371 360 353

CIPLA EQ 529 525 522 518 515COALINDIA EQ 337 333 330 326 323

DLF EQ 163 162 160 159 157DRREDDY EQ 3035 3003 2987 2955 2939

GAIL EQ 390 387 385 382 380GRASIM EQ 4958 4927 4888 4857 4818HCLTECH EQ 764 759 752 747 740

HDFC EQ 1407 1399 1387 1379 1367HDFCBANK EQ 1258 1253 1244 1239 1230

HEROMOTOCO EQ 3271 3235 3194 3158 3117HINDALCO EQ 136 135 133 132 130

HINDUNILVR EQ 920 915 905 900 890ICICIBANK EQ 276 273 272 269 268

ITC EQ 259 257 252 250 245INDUSIND BANK EQ 1203 1185 1175 1157 1147

INFY EQ 1090 1083 1079 1072 1068JINDALSTEL EQ 92 88 86 82 80KOTAKBANK EQ 765 756 751 742 737

LT EQ 1627 1603 1582 1558 1537M&M EQ 1468 1460 1455 1447 1442MRF EQ 34563 34307 34166 33910 33769

MARUTI EQ 4921 4844 4707 4630 4493ONGC EQ 227 224 222 219 217

ORIENTBANK EQ 121 129 118 116 115RCOM EQ 54 53 52 51 50

RELCAPITAL EQ 449 443 438 432 427RELIANCE EQ 1039 1032 1022 1015 1005RELINFRA EQ 582 578 570 566 558RPOWER EQ 56 55 54 53 52

SBIN EQ 237 234 231 228 225SSLT( VEDL) EQ 173 172 168 167 163SUNPHARMA EQ 840 832 821 813 802TATAMOTORS EQ 519 513 506 500 493TATAPOWER EQ 73 72 71 70 69TATASTEEL EQ 363 357 352 346 341UNIONBANK EQ 134 132 129 127 124

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS)

Cash Pack

NSE CASH : BUY SUNPHARMA NSE CASH ABOVE 842 TGT 884 SL 821.

NSE CASH : BUY APOLLOTYRE NSE CASH ABOVE 165 TGT 176 SL 160.

NSE CASH : BUY DISHTV NSE CASH ABOVE 99 TGT 109 SL 95.

Future Pack

NSE FUTURE : BUY APOLLOTYRE FUTURE ABOVE 163 TGT 169 SL 160.

NSE FUTURE : BUY DABUR FUTURE ABOVE 309.30 TGT 315.90 SL 306.

NSE FUTURE : BUY AMBUJACEM FUTURE ABOVE 272 TGT 278 SL 269.

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 DR REDDY 3482.35 2972.10-14.65

2 TECHM 508.40 484.10-4.78

3 ICICIBANK 268.65 259.90-4.37

4 LT 1585.90 1524.60-3.87

5 IDEA 107.40 104.60-2.61

6 GAIL 391.65 382.45-2.35

7 BANK BARODA 155.85 152.45-2.18

8 COAL INDIA 333.75 326.90-2.05

9 ONGC 226.80 222.40-1.94

10 HEROMOTCO 3280.05 3283.45-1.27

11 BHEL 147.30 145.65-1.12

12 KOTAK BANK 764.40 756.30-1.06

13 RELIANCE 1022.75 1014.70-0.79

14 TATA STEEL 363.65 362.40

-0.34

15 INFY 1080.85 1079.10 -0.16

SR.NO SCRIPT NAME PREV CLOSE

CMP % CHANGE

1 EICHER MOTOR 19972.05 22703.8 +13.682

MARUTI SUZIKI 4550.55 4877.45 +7.18

3 ZEEL 474.75 503.5 +6.094

POWER GRID COR 168.95 178.35 +5.56

5 TCS 2558.95 2700.55 +5.536

ASIAN PAINT 1070.65 1124.15 +5.00

7 YES BANK 1182.75 1226.45 +3.698

ADANI PORT 226.15 234.360 +3.60

9 INDUSIND BANK 1156.35 1195.50 +3.3910

AXIS BANK 538.10 555.50 +3.23

11 SUNPHARAM 504 529.90 +3.2212

BAJAJ AUTO 2700.85 2771.75 +2.63

13 GRASIM 4861 4975 +2.3514

ULTRATECH 3670 3746.95 +2.10

15 HUL 906.95 921.35 +1.59

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

First quarter credit quality was the poorest in two years, says CARE Ratings -

Sectors like construction, iron & steel, chemicals continued to face financial stress with

dip in margins and profitability leading to higher number of credit rating downgrades in

the June quarter, CARE Ratings said Monday. This made the overall credit quality of

Indian companies the poorest in last two years. There has been a moderation in the

number of upgrades in the first quarter of the fiscal - 12% of surveillance cases were

upgraded compared with 16% in year ago period and 18% in first quarter 2014-15. The

rating company said that 14% of the surveillance cases were downgraded compared with

10% in Q1 2015-16. CARE's modified credit ratio, the ratio of upgrades and

reaffirmations to downgrades and reaffirmations, fell to 0.98% in the first quarter from

1.07% in the year ago period. The MCR was 0.90% three years back.

Government not in favor 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.

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.

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%.

✍ TOP ECONOMY NEWS

The government is set to start consultations for an ambitious plan to merge 13 state oil

firms to create a giant corporation whose revenue dwarfs global energy major Chevron.

Grappling with mobile call drop menace, telecom operators committed to install 0.1

million towers within a year, entailing investments of about Rs. 200 billion, and sought

more spectrum from the government.

To tackle the problem of call drops, telecom operators have installed 48,000 mobile

towers across the country in the last 45 days.

Coal block auctions and allotments have generated Rs.22.37 billion revenue till May this

year.

Central Board of Direct Taxes came out with draft rules for determining the quantum of

distributed income arising out of buy back of shares of unlisted companies for levy of tax.

The strong uptick in the southwest monsoon since the start of July has boosted the

sowing of kharif crops and given fresh life to reservoirs and major water bodies, which

were on the brink.

The special investigation team on black money has asked the enforcement directorate to

take action against 788 companies for not bringing export proceeds of more than Rs. 1

billion each.

Cellular Operators Association of India has pitched for a "mandatory" and "non-

discriminatory" grant of permission to all operators for deployment of in-building

telecom infrastructure in public buildings including airports and government offices.

The National Stock Exchange will auction investment limits for overseas investors for the

purchase of government debt securities worth Rs.72.64 billion.

✍ TOP CORPORATE NEWS -

NHPC Limited has approved raising up to Rs. 45 billion through issue of corporate

bonds on private placement basis.

Syngene International Limited has lined up USD 200 million around Rs. 13.42 billion

capex to bolster its manufacturing capabilities over the next three years.

Skipper Limited, has set up a manufacturing unit in near Bollaram.

Oil and Natural Gas Corp will have to shell out Rs. 3.92 billion and Oil India over Rs.

11 billion after the Government ordered them to pay royalty at gross crude oil price and

not the net rate they actually realise.

Hindustan Unilever Limited has completed the sale of its rice exports business to LT

Foods.

Biocon Limited is planning to launch insulin glargine in Malaysia in the second half of

the current financial year as it has received regulatory nod from the country's health

regulator.

Khaitan Electricals Limited has approached the Board for Industrial and Financial

Reconstruction to declare it as a sick industry as its accumulated losses had exceeded the

net worth.

JSW Steel Limited is looking to raise up to USD 750 million about Rs. 50.32 billion

from international markets.

Diamond Power Infra Limited has approved a proposal for strategic debt restructuring

initiated by the banks.

The board of Cairn India and Vedanta Limited sweetened the merger deal by revising

terms of the merger of both companies. The shareholders of Cairn India will now get one

share in Vedanta and minority shareholders to get an additional four Redeemable

Preference Shares in Vedanta Ltd with a face value of Rs. 10 for every share held by

them.

Reliance Industries and its partner BP of UK have invested over Rs. 45 billion in the

flagging eastern offshore KG-D6 block to maintain gas output at current level despite the

steep natural decline that has set in the seven-year old fields.

Aurobindo Pharma Limited is planning to raise funds via a share sale to fund the

acquisition of Teva's European assets -- if its bid is accepted by this month.

IL&FS Engineering and Construction Services Company has received a letter of

acceptance from Nagpur Metro Rail Corporation for Rs. 5.33 billion.

Shilpa Medicare Limited has received without 483 for its SEZ formulations facility

situated at Jadcherla near Hyderabad from the United States Food & Drug Administration

Adani Transmission Limited has plans to raise Rs. 5 billion through offshore rupee-

denominated Masala bonds.

Claris Lifesciences Limited has received the Abbreviated New Drug Application

approval from the USFDA for a local anaesthesia drug, Bupivacaine Hydroxhcloride.

Hindustan Construction Company has won a Rs. 17.50 billion contract from IRCON

International to construct two tunnels and a bridge in Jammu and Kashmir.

Amtek Auto has caught the fancy of foreign portfolio investors. The FPIs have almost

doubled their stake in the company to 9.17% in the quarter ended June 30, against 4.77%

as on March 31.

VISA Steel Limited has resumed operations at its Steel Melt Shop, Ladle Refining

Furnace, Vacuum Degassing & Rolling Mill facilities at its Kalinganagar plant in Odisha.

Jindal Steel & Power , the Central Vigilance Commission has endorsed the view of

Central Bureau of Investigation that there are no irregularities in the allocation of

Ramchandi coal block in Odisha.

Educomp Solutions Limited said it will divest its entire shareholding in its subsidiary

Vidya Mandir Classes Limited following invocation of corporate guarantee by ICICI

Bank to the company.

3i Infotech Limited said that ICICI Bank intends to discontinue some of the service

contracts with the company and its group firms, effective from July 31, 2016.

Lupin Limited announced today that its US subsidiary, Lupin Pharmaceuticals Inc. has

received tentative approval from the United States Food and Drug Administration to

market a generic equivalent of ViiV Healthcare’s Lexiva Tablets, 700 mg Fosamprenavir

Calcium Tablets, 700 mg. This product was filed from Lupin’s Goa formulations

manufacturing facility.

Volkswagen is in talks with Tata Motors to partner for a small car development

programme.

ITC Limited is soon going to expand its Sunfeast Yippee! brand of instant noodles into

the atta-based variant and will create a complete portfolio of such products including a

multigrain one to build a heath quotient for a category which recently was shrouded in

controversy regarding product safety.

Lupin Limited is in talks with Japan's Astellas and Shionogi to buy the off-patent

medicine brands they have separately put on the block.

Jaiprakash Power Ventures have agreed to acquire significant equity stake in the

company by converting part of their debt into equity. Senior bank officials said that

lenders decided to invoke strategic debt restructuring, a move that would enable them to

recast the loan by bring in new promoter in the company that is struggling to repay its

dues.

Bajaj Corp, will step up focus in the personal care category with new launches this year.

Glenmark Pharmaceuticals has received final approval from the US health regulator for

Potassium Chloride Extended Release Tablets, used for treating low levels of potassium

in blood.

Canara Bank has got shareholders' approval to raise capital by up toRs20 billion.

Reliance Communications launched a new data plan MoviNet, bundling movies with it

in a bid to attract data users.

Maruti Suzuki India Limited said it will start selling its light commercial vehicle,

‘Super Carry’, by the end of next month.

Idea Cellular expanded its 4G LTE services to 9 districts of North East service area that

includes Agartala, Aizawl, Imphal, Kohima, Mokokchung, Senapati and Tura areas.

Tata Steel said the Quebec government will invest CAD 175 million about USD 133

million in its joint venture firm's direct shipping iron ore project.

P C Jeweller will raise up to Rs. 2.57 billion through issue of preferential shares to US-

based investment firm Fidelity for business expansion.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Canara Bank said it has got shareholders' approval to raise capital by up to Rs 2,000

crore. "The bank has concluded its 14th Annual General Meeting and transacted. raising

of capital up to Rs 2,000 crore by further issue of equity/preference shares or other

securities either by way of follow-on public issue, rights issue, private placement,

Qualified Institutional placement , or any other mode," Canara Bank said in a BSE filing.

The government has asked state-run lenders to leverage the Rs 22,915-crore capital it

provided them last week to raise more funds, saying the banks should come up soon with

detailed plans on raising capital through public offerings, bonds and sale of non-core

assets. The instructions were passed on when chief financial officers of public sector

banks met senior finance ministry officials in DELHI last week to discuss the capital

allocation. The recent fund infusion is meant for 13 13 state-run banks. Officials said 75

per cent of the allocation will be disbursed immediately while the balance will be linked

to banks' performance.

Indian Overseas Bank and Central Bank of India will benefit from the government's

recent capital infusion as they have got a higher share as a proportion of their share

capital, Moody's said today. "The capital infusion will improve their capitalisation at a

time when asset quality pressure and elevated provisioning costs have negatively affected

their financial performance," it said in its credit outlook titled, 'Indian Overseas Bank and

Central Bank of India benefit from Government capital infusion.

The Reserve Bank of India has come down hard on 13 banks and fined them for Rs. 27

crore for violation of FEMA and lapses in know your client rules. The matter relates to

irregularities in import remittances by several banks which came to light in October 2015.

"On the basis of inputs received from a public sector bank, the Reserve Bank undertook a

scrutiny on advance import remittances in 21 banks in October/November 2015," the RBI

said in a release.

State Bank of India and Macquarie Group, is in early talks with Moser Baer Energy to

acquire operational alternate power assets portfolio of the New Delhi-based company. be

launched soon for mobile devices, where Federal Bank will enable a direct payment

option for its customers.

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