TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The benchmark Nifty 50 opened on flat basis on Monday down by 2

points at 8670. On Monday the Nifty closed almost flat as inflation spike dashed

immediate October rate cut hopes by RBI, As we have seen the Nifty 50 remained

sideways in the whole month of August, The range high of Nifty 8750 has become a peak

which the bulls despite their best efforts are unable to breach. The Foreign Institutional

Investors have buyers in both cash derivatives Segment this helps Nifty to Sustain the

level of 8650. Now all eyes on the Federal Reserve Open Meeting Committee to have an

idea about different Fed members thinking about health of US Economic recovery and risk

Factors for the Global Economy. We are expect that the Nifty50 is in buy mode with

strong Support seen at 8650. Now For Any strength the Nifty has to Sustain the level of

8650-8680 for the target of 8720-8780 in near term. The Crucial levels for Nifty is 8680-

8700 is upside and 8600-8550 is down side.

BANK NIFTY : - The Bank Nifty opened in a Positive bias on Monday up by 66 Points

or 0.34 percent at 19029. The Banking sector’s Net Performing Assets almost doubled to

8.5 percent in the first quarter of this fiscal, driven by surging bad assets of state run

lenders. The spike was largely due to the doubling of NPAs at Public sector banks to 10.4

percent compared to 5.3 percent in June 2015. Although the RBI has taken various steps to

overcome the issue of NPA’s. The Board of Country largest lender State Bank of India has

approved merger of its Associates along with Bhartiya Mahila bank. As we have seen that

the Bank Nifty has traded in the range 18900-19400 in the last week. Now Break above

19440 could lead the Bank Nifty toward the levels of 19500-19800 in near term. The

Crucial levels for next week is 19450-19600 is up side and 19250-19050 is down side.

Monday, 22 August 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8790 8706 8664 8622 8538

WEEKLY R2 R1 PP S1 S2

8915 8737 8648 8559 8381

MONTHLY R2 R1 PP S1 S2

9245 8837 8633 8429 8021

BANK NIFTY

DAILY R2 R1 PP S1 S2

19771 19517 19390 19263 19009

WEEKLY R2 R1 PP S1 S2

21073 19841 19225 18609 17377

MONTHLY R2 R1 PP S1 S2

22134 20108 19095 18082 16056

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8647 8460 8180 7894

BANK NIFTY 18977 18467 17587 16757

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8761 8270 7128

BANK NIFTY 18400 18350 14050

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 8720.

Now it seems that trend has reverse into the Consolidation in the Daily Chart has Formed

the Bullish candle which is also the signal of market reversal. If the Nifty is able to Break

the 8720-8740 level we could see some positive Move Toward the 8800 levels in

upcoming week, break below 8600 could touch the level of 8490 in upcoming week. The

Crucial levels for Nifty is 8600-8550 down side and 8700-8750 is Upside.

PATTERN FORMATION ( BANK NIFTY )

Detail 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 19400 could

lead the Bank Nifty toward the level of 19800 in Near-Term the crucial level for Bank

Nifty is 19150-18850 down side and 19650-19800 is Upside.

NSE EQUITY DAILY LEVELS

COMPANY

NAME

R2 R1 PP S1 S2

ACC EQ 1720 1707 1694 1681 1668

ALBK EQ 79 79 78 77 77

AMBUJACEM EQ 280 277 275 272 270

ASIAN PAINT EQ 1139 1127 1114 1102 1089

AXISBANK EQ 602 595 591 584 580

BAJAJ-AUTO EQ 2961 2945 2933 2917 2905

BANKBARODA EQ 165 163 159 157 155

BANKINDIA EQ 116 114 113 111 110

BHEL EQ 143 142 141 140 139

BHARTIARTL EQ 358 354 350 346 342

CIPLA EQ 565 561 557 553 549

COALINDIA EQ 343 339 335 331 327

DLF EQ 171 169 168 166 165

DRREDDY EQ 3048 3028 3016 2996 2984

GAIL EQ 371 367 365 361 359

GRASIM EQ 4734 4685 4647 4598 4560

HCLTECH EQ 800 791 785 776 770

HDFC EQ 1385 1375 1367 1357 1349

HDFCBANK EQ 1256 1252 1247 1243 1238

HEROMOTOCO EQ 3400 3379 3359 3338 3318

HINDALCO EQ 161 159 158 156 155

HINDUNILVR EQ 923 916 909 902 895

ICICIBANK EQ 257 256 253 252 249

ITC EQ 253 252 250 249 247

INDUSIND BANK EQ 1210 1199 1193 1182 1176

INFY EQ 1047 1034 1026 1013 1005

JINDALSTEL EQ 91 89 87 85 83

KOTAKBANK EQ 791 785 780 774 769

LT EQ 1508 1500 1490 1482 1472

M&M EQ 1475 1464 1458 1447 1441

MRF EQ 37074 36561 36286 35773 35498

MARUTI EQ 4952 4926 4908 4882 4864

ONGC EQ 244 242 241 239 238

ORIENTBANK EQ 120 119 118 116 115

RCOM EQ 52 51 50 49 48

RELCAPITAL EQ 478 472 468 462 458

RELIANCE EQ 1029 1021 1014 1006 999

RELINFRA EQ 607 599 595 587 583

RPOWER EQ 54 53 52 51 50

SBIN EQ 264 261 257 254 250

SSLT( VEDL) EQ 184 181 177 174 170

SUNPHARMA EQ 799 791 785 777 771

TATAMOTORS EQ 518 513 511 506 504

TATAPOWER EQ 79 78 77 76 75

TATASTEEL EQ 400 395 389 384 378

UNIONBANK EQ 138 136 135 133 132

TOP 15 ACHIEVERS // TOP 15 LOOSERS

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )

NSE CASH : BUY SUNPHARMA NSE CASH ABOVE 795 TGT 835 SL 779.

NSE CASH : BUY PNB NSE CASH ABOVE 129 TGT 137 SL 125.

NSE CASH : BUY SBI NSE CASH ABOVE 258 TGT 281 SL 249

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 BHARTI INFRA 366 342 -6.49 %

2 TCS 2738 2603 -4.93 %

3 WIPRO LIMITED 543 520 -4.35 %

4 TECH MAHINDRA 493 473 -4.08 %

5 HCL TECH 814 781 -3.97 %

6 INFOSYS 1062 1021 -3.88 %

7 GAIL LIMITED 374 363 -2.75 %

8 HUL 935 910 -2.60 %

9 EICHER MOTORS 22321 21777 -2.44 %

10 BOSCH LIMITED 24548 23980 -2.31 %

11 ASIAN PAINTS 1137 1113 -2.11 %

12 SUN PHARMA 800 783 -2.09 %

13 RELIANCE 1035 1014 -2.02 %

14 TATA MOTORS 516 510 -1.32 %

15 ITC LIMITED 254 250 -1.24 %

SR.NO SCRIPT NAME PREV CLOSE

CMP % CHANGE

1 HINDALCO 146 158+8.61 %

2BANKBARODA 149 161 +8.05 %

3 CIPLA 515 556+7.92 %

4SBIN 243 258 +6.25 %

5 ADANI PORTS 258 273+5.73 %

6ULTRATECH CEM 3722 3926 +5.50 %

7 TATA STEEL 374 392+4.64 %

8AMBUJA CEMENT 264 276 +4.52 %

9 NTPC 160 166+3.86 %

10TATA POWER 75 78 +3.79 %

11 YES BANK 1290 1335+3.51 %

12ONGC 233 241 +3.42 %

13 ICICI BANK 245 253+3.23 %

14BHEL 138 142 +2.53 %

15 AURO PHARMA 747 765+2.35 %

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

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 FY1 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. With plan and non-

plan distinction being done away with from next financial year, the government expects

to bring more attention to capital spending. It wants to set aside more funds for capital

spending and expects to show a higher allocation from next fiscal.

Overall global investment in fintech companies totaled $ 99.4 billion, shows report -

Global investments in fintech companies across both venture-backed and non-venture-

backed companies totaled $ 9.4 billion in the second quarter of this year, says a report.

However, investment directed to VC-backed fintech 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 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

Funding and deal activity to VC-backed fintech companies in the first six months of 2016

are on pace to hit $14.8 billion across more than 820 deals by the end of 2016 at the

current run rate.

Inflation to remain up this fiscal: Kotak Institutional Equities - inflation is expected

to continue its rally through the rest of this fiscal, and while WPI is likely to average 3.9

per cent, CPI will average close to 5 per cent in 2016-17, says a report. According to a

report by Kotak Institutional Equities, with favourable monsoons, there is likely to be a

correction in food prices though headline inflation will continue to trend up through the

rest of the current fiscal. July WPI inflation surprised on the upside with 3.55 per cent

after 1.62 per in June. "This was the fourth consecutive positive reading after almost 1.5

years of contraction and we expect this trend to continue over the next few months,"

Kotak Institutional Equities said in a research note adding, "we expect WPI inflation to

average 3.9 per cent in this fiscal against (-)2.5 per cent in 2015-16 fiscal".

Indirect tax collection up 30 per cent in June quarter against last Financial Year -

The tax department is hopeful of meeting the revenue collection target for FY 2016-17, a

top official said. Indirect tax collection rose by about 30.8 per cent during April-June to

Rs. 1,99,970 crore, from Rs 1,52,740 crore collected in the year-ago period. The

collection up to June indicate that 25.7 per cent of the annual budget target of indirect

taxes has been achieved in the first three months of the fiscal. We have done very well so

far. Collection in the June quarter from central excise, customs and service tax put

together are 30 per cent more from the year-ago period," Central Board of Excise and

Customs chairman Najib Shah said on the sidelines of an event here. Asked if the Board

will be able to meet the target of revenue collection for FY2016-17, he said, "It is very

early to say how the year will be. Still, we are hopeful of achieving the target given to us

by the government for the entire fiscal.

Nasscom upbeat on software exports, will not revise 10-12% growth projection - The

Indian software exports industry body National Association of Software and Services

Companies on Wednesday said in spite of the current economic environment, it sees no

need to revisit its growth forecast of 10-12% in software exports. "There's a lot of

turbulence in global economy. We did mention some short term impact of Brexit on the

industry, but there is no need to revisit it," said R Chandrashekhar, president Nasscom. He

did, however, that Nasscom was keeping a close watch on factors such as Britain's exit

from the EU and its ripple effect on demand for technology services. Nasscom had said in

June that UK's decision to exit the European Union through a referendum will have an

immediate impact in the short term due to the uncertainty in the environment.

WPI inflation hits 23-month high of 3.55 per cent in July - Wholesale inflation

accelerated more than expected in July to touch a near two-year high as food prices rose

steeply. The Wholesale Price Index rose 3.55% from a year ago, compared with a 1.62%

rise in June, government data showed, against an expected 2.5% wholesale inflation. The

high numbers are in line with consumer inflation, which also shot up to a two-year high

of 6.07%. The government revised growth in wholesale price inflation for May to 1.24%,

from 0.79% earlier. "Global commodity prices have come off their lows and unfavourable

base effects have been contributing to the upside in inflation," said Upasna Bhardwaj,

senior economist at Kotak Mahindra Bank. The Reserve Bank of India which kept rates

unchanged in its August 9 monetary policy review — now gives more weight to

Consumer Price Index.

Government may pay Rs 34,600 crore as arrears in August salary: India Ratings and

Research - Government may disburse Rs. 34,600 crore to its employees in August salary

as arrears because of implementation of the 7th pay panel recommendations, India

Ratings and Research said. The government had last month announced that it will pay its

employees arrears arising out of implementation of the 7th Pay Commission award at one

go in August salary. "The combined outgo for the Centre on account of arrears for

January to July and payments for August will total Rs Rs 34,600 crore," Ind-Ra said in a

statement. The outgo due to the hike in salary and pension is unlikely to cause significant

systemic liquidity disruption, it said. The government has already notified the 2.57-time

hike in basic salary for 1 crore government employees and pensioners as per the 7th Pay

Commission recommendations. The pay hike has been made effective January 1, 2016.

✍ TOP ECONOMY NEWS

Seeking to facilitate electronic fund transfers, the Finance Ministry has asked other

ministries and departments to immediately open e-FPB accounts with the RBI for receipt

or payments exceeding Rs. 1 billion.

According to the Association of Mutual Funds in India data, investors poured in a net of

Rs. 1.03 trillion in MF schemes last month.

The wholesale price index based inflation rose to a near two-year high of 3.55% in July

up from 1.62% in June on the back of more expensive food items.

In order to promote less cash economy, the government has said it will bear the

transaction cost for all payments made to it through debit or credit cards and net banking.

Merger and acquisition deals worth USD 4 billion were announced in July, thanks to a

significant surge in domestic and inbound deal activity, taking the year-to-date deal tally

to USD 19.87 billion.

Drug price regulator NPPA fixed ceiling for 123 medicines last month while 118 cases of

overcharging by pharmaceutical companies were detected during the period.

Less than a fortnight after imposing anti-dumping duty on hot-rolled flat steel products

was imposed, the Finance Ministry has extend a similar levy on another grade of steel —

cold-rolled flat products.

The wholesale price index based inflation rose to a near two-year high of 3.55% in July

up from 1.62% in June on the back of more expensive food items.

In order to promote less cash economy, the government has said it will bear the

transaction cost for all payments made to it through debit or credit cards and net banking.

✍ TOP CORPORATE NEWS -

Lupin Limited said its subsidiary Gavis Pharmaceuticals has received final approval

from the US health regulator to market potassium chloride extended release capsules,

used for treating potassium deficiency in the bloodstream, in the American market.

Indiabulls Housing Finance has raised Rs. 8 billion by issuing non convertible

debentures on a private placement basis.

Dewan Housing Finance Corporation said it will raise up to Rs. 100 billion through

issuance of secured non-convertible debentures in one or more tranches.

Strides Shasun Limited said that it will hive off its commodity focused active

pharmaceuticals ingredients manufacturing unit as a separate business that would emerge

as a supplier to global Pharma firms.

Nestle India launched new variants in its Maggi Noodles portfolio and re-launched cup

noodles.

Reliance Communications announced the introduction of "Next-Gen app-to-app calling

in the country and worldwide". The offer launched by the company has been billed as

'Calling Ka Naya Tareeka ' and in this introductory offer it is offering 300 minutes of app-

to-app calling for Rs. 39.

To increase capital base, Bank of India has raised Rs. 5.40 billion through monetisation

of its non-core assets so far in 2016-17 and is planning to raise a similar amount in the

rest of the year.

Unitech Limited was Wednesday directed by the Supreme Court to deposit Rs150mn

principal amount by September-end to pay back investors who had bought flats in its

Gurgaon project but not got possession on time.

BHEL has secured an order to set up solar photovoltaic plants estimated to cost Rs. 1.69

billion.

Lubrizol Advanced Material India, announced the termination of all processor

agreements for its CPVC pipes and fittings with Astral Poly Technik Limited.

Natco Pharma has received an Establishment Inspection Report for its Kothur facility in

Telangana from the US health regulator after successful completion of an inspection.

Cadila Healthcare has received Establishment Inspection Report for its Changodar

manufacturing plant located near Ahmedabad from the US health regulator after

successful completion of inspection.

The launch of State Bank of India's much-awaited payments bank has been delayed

further, because its private partner wants to first launch its mobile telecom business

Reliance Jio, wait for it to stabilise before launching the payments bank.

Spark Minda group flagship firm, Minda Corporation Limited has formed a joint

venture with China's Shandong Beiqi Hai Hua Automobile Parts Co.

Tata Realty & Infrastructure is in advanced talks with a Macquarie Group and State

Bank of India to buy two road assets, more than doubling its investment in three years.

Tata Power Solar today said it has commissioned a 100 MW solar project for NTPC in

Anantapur, Andhra Pradesh, the biggest solar project commissioned using domestically

manufactured solar cells and modules.

JSW Steel will acquire 74% stake in JSW Praxair Oxygen Pvt Limited For Rs. 2.40

billion in cash.

Idea Cellular is rapidly expanding its 4G LTE services ahead of Reliance Jio's launch.

The company now offers high-speed next generation mobile broadband services in 390

towns spread over 32 districts in Maharashtra and Goa.

JK Lakshmi Cement has received environment clearance for expansion of its limestone

mine output in Rajasthan, entailing an investment of Rs. 1.20 billion.

Piramal Enterprises Limited announced that its wholly owned subsidiary in the US has

entered into an agreement to acquire 100% stake in Ash Stevens Inc., a US based

Contract Development and Manufacturing Organization, in an all cash deal for a

consideration of USD 42.95 million plus an earn-out consideration capped at USD 10

million. This potential transaction is expected to be completed by the end of August.

Power Grid Corporation of India Limited is looking to participate in intra-state

projects, a deviation from its traditional role as the central power transmission utility that

has been prompted by the reforms in state-run power distribution companies.

Some foreign players have expressed interest in partnering with Hindustan Petroleum

and GAIL to build a petrochemicals complex in Andhra Pradesh.

Roche has sued Zydus Cadila and India's central drug regulator at the Delhi High Court

over the approval and launch of breast cancer drug Vivitra. Roche is planning to block the

product from the market.

Dilip Buildcon has bagged Rs. 20.16 billion road project in Uttar Pradesh.

Wipro Limited has bought minority stake in Israeli cyber security company, Intsights

Cyber Intelligence for $1.5 million.

Trent Limited has assigned a capital outlay of Rs. 1.50 billion to expand to West Asia

and launch its own mass market apparel stores, apart from adding about 50 stores across

formats such as Westside and Star Bazaar.

The Government has slapped an additional penalty of USD 380 million on Reliance

Industries and its partners for producing less than targeted natural gas from eastern

offshore KG-D6 fields.

Singtel said it will buy 7.39% stake in Bharti Telecom Ltd, the holding company of

Bharti Airtel, for USD 659.5 million.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

State Bank of India chairman Arundhati Bhattacharya expects the lender's loan growth

to be faster than earlier forecasted. Speaking to reporters on the sidelines of the FICCI

organized banking conference Bhattacharya said she expects State Bank of India credit

growth to be revised upwards from the 12% projected at the start of the fiscal year.

"There are some new projects coming in and we could see credit growth of upwards of

12%," Bhattacharya said.

Private sector lender Axis Bank Limited, on Wednesday announced the launch of its

Contactless Secure+ Debit Card for regular savings account customers, to provide access

to a larger customer base with contactless technology. The card, launched on the Visa

payWave platform, will enable Axis Bank's customers to conveniently 'Just Wave to Pay'

at NFC-enabled point of sale terminals and also use the card as a normal debit card at any

POS terminal. At present, approximately 40% of the NFC-enabled point of sale have been

deployed by Axis Bank, it said in a statement.

Apart from State Bank of India and its associates, the rest of the public sector banks

along with foreign banks, are losing out on their share of primary bank relationships for

corporates, a report has said. "Foreign and nationalised banks have lost share of primary

banking relationships to new private banks," a joint report by industry body FICCI,

Indian Banks' Association and BCG said.

Kerala based private sector lender, Federal Bank has tied up with MMTC for

distribution of Indian Gold Coins, the first-Ever national gold offering by the

government, which was launched by Prime Minister Narendra Modi In November 2015.

"Through this tie-up with MMTC, the bank becomes the first among the private sector

banks to offer this product to its customers. Available presently in denominations of 5, 10

and 20 grams, the coins are distributed through select branches of the bank across the

country," said Jose K. Mathew, head, retail business, Federal Bank.

State-run lenders may offer concessional finance to private companies bidding for key

projects abroad as part of a strategy to step up strategic investment overseas. The

government is considering a mechanism to ensure the viability of such lending, said

officials aware of the matter. "A committee will be formed with the finance ministry

which will look into the issue," one of them said. "Infrastructure projects in those

countries where India has both strategic and economic interest will be given preference."

Panel members will include the deputy national security adviser and officials from other

ministries including external affairs and commerce.

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