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Weekly Report 26th March to 30th March 2018.

Upcoming Week Nifty Movement:

The markets witnessed a strong up move led by sharp short-covering on Monday but after that market remained in range with intraday volatility.

The benchmark indices remain extreme volatile during the week as Nifty gained nearly 200 points on Monday but remained flat for next three days and fell sharply in Friday's trading session as it lost 165 points.

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Shield ResearchNifty closed the week on negative note losing around 1.90%.

Support for the index lies in the zone of 10030 to 9980 where break out levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 9800 to 9600 where the index has taken multiple supports in the month of October-2017 and long term moving averages are lying.

Resistance for the index lies in the zone of 10050 to 10200 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 10350 to 10450 from where the index broke down after consolidation.

Broad range for the week is seen from 9600 on downside & 10450 on upside.

The Nifty50 encountered resistance at 10,200 during the week and finally slipped below the highest Put base of 10,000. It is getting affected by adverse domestic and global news flows. The volatility has not responded to the market decline and remained almost flat at 15.45 percent in comparison to the previous week. If volatility declines below 14 percent, it would provide some comfort to the current jittery market conditions.

The week’s market fall was mainly contributed by banking heavyweights. The Bank Nifty made a new low a day before the Nifty on Friday. As the Nifty has come close to the highest Put base of 10,000, some consolidation may be seen in the upcoming truncated week. The Nifty50 saw its weakest close in the last five months for the week ended March 24. The index is down nearly 2 percent for the week and about 4.4 percent or 460 points so far in the month of March.

The index closed with losses of nearly 2 percent for the week ended March 23 but there were plenty of stocks which suffered double-digit fall of up to 30 percent.

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Shield ResearchMarkets across the globe including India suffered a knee-jerk reaction after US President Donald Trump signed a memorandum that could impose tariffs on up to USD 60 billion of imports from China.

Reacting to the news, China unveiled plans to impose tariffs on up to USD 3 billion of US imports in retaliation against US tariffs on Chinese steel and aluminum products which fuelled fears of other countries coming out with their own set of protectionism measures.

First four day’s price action of Nifty50 was almost neutral with two positive pull back candles and two bearish candles. But, Friday’s huge gap-down move accompanied with the global uncertainty created havoc on Indian markets.

This has technically tilted the balance in favor of bears that are already on a rampage since February 2018. However, as the market already corrected in the last two months with a price damage of around 10 percent the incentives for bears after Friday’s gap down opening appears to be little.

As such, the Indian market has been on a consolidation mode since the start of the year, led by factors such as LTCG imposition, liquidity issues, raising bond yields and volatile global markets. The Nifty metal index is down around 3 percent, led by cuts in Hindalco, Vedanta and Tata Steel.

The Street could be spooked largely on the back of escalating of trade wars between US and China. This, after China on Friday announced new tariffs on US goods. The US had earlier this month said that it will be imposing import tariffs on steel and aluminum, a move largely seen as a precursor to this decision.

The market could also continue to react to the interest rate hike announced by the US central bank on Thursday. It implies an improvement in the US economy and a possible redirection of fund flows from emerging markets to developed economies.

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WEEKLY INDEX LEVELS:Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

9998.05 10059 9890 9783 9508 10166 10334 10610

Prime Minister Narendra Modi in 2016 approved the constitution of BBB as a body of eminent professionals and officials to make recommendations for appointment of Whole-time Directors as well as non-Executive Chairmen of PSBs.

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Upcoming Week Bank Nifty Movement:

The Bank Nifty index slipped nearly 1100 points for the week on the back of selling in both the private and the public sector pack. As the US raised interest rates by another 25 bps, this did not go well with market participants.

However, post the trade war talks between US and China, the index witnessed its highest intraday fall for the week where it started below the important support levels of 24,000 and closed near the week’s low.

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Shield ResearchSupport for the index lies in the zone of 23850 to 23600. If the index manages to close below these levels then the index can drift to the levels of 23200 to 23000.

Resistance for the index lies in the zone of 24200 to 24300 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 24500 to 24800 from where the index has opened gap down.

Broad range for the week is seen from 23000 on downside & 24800 on upside.

Private sector lender ICICI Bank has raised Rs 4,000 crore by selling perpetual bonds to marquee institutional investors including Axis, Birla, HDFC, SBI, Reliance and ICICI Prudential mutual funds, a move that will help strengthen the bank’s capital base, said two people familiar with the matter.

This bond sale comes at a time when about six state-owned banks, including IDBI Bank, Bank of Maharashtra, Dena Bank, Uco Bank, Corporation Bank and United Bank of India, have collectively withdrawn Rs 13,000-14,000 crore worth of perpetual bonds in the past one month with special regulatory dispensation.

The country's largest lender SBI today said it had classified Chennai-based jewellery firm Kanishk Gold Pvt Ltd (KGPL) as fraud account in November 2017.The sanctioned aggregate limits of Rs 215 crore by SBI in a consortium arrangement has been classified by the bank as fraud on November 16, 2017 for having misrepresented the financial statements from 2009 and liquidated primary security, SBI said in a clarification sought for a news report by exchanges.

Shares of state-run Union Bank of India plunged to 11-year low a day after the Central Bureau of Investigation (CBI) registered a case against the Hyderabad-based Totem Infrastructure and its promoters and directors - Tottempudi Salalith and his wife Tottempudi Kavita - for allegedly defrauding a consortium of eight banks for close to Rs 1,400 crore. The Union Bank of India stock fell 8.76 per cent or 8.30 points to 86.40 level on the BSE.

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WEEKLY INDEX LEVELS:Bank Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

23710.15 24003 23337 22965 21926 24376 25043 26081

Technical Movement:

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Balrampur Chini Mills Limited: -

Balrampur Chini Mills Limited: -

Trend of the stock is bearish, it completed its bearish flag pattern, if it will give pattern breakout then will take support previous breakout 70 & bounce back. Next week if it will touch the level of 70, one can go for buying with stop loss at 50 for the targets of 85-100 Trend of the stock is up in weekly chart and strategy advised is buying on dips.

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Shield ResearchTechnical Movement:

 Bharat Financial Inclusion Limited:-

Bharat Financial Inclusion Limited:-

Trend wise Bharatfin is highly bullish, also gave its bullish flag pattern breakout & closed above. The stock has taken support its major level 1047, also took support previous breakout in weekly chart & reverse. Next week If it sustains above 1055 one can go for buying with stop loss at 1020 for the targets of 1080-1120, Trend of the stock is up in daily chart and strategy advised is buy on dips.

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Previous ArchivesLAST WEEK RECO

STOCKSRECO PRICE TGT FOLLOW UP REMARK

Divi’s Lab Future 1070 1090-1125 Done 1st TGT Made High 1115.55, CMP 1038.45

Hcl Tech Future 975 1005-1035 Did Not Execute Made High 962.95, CMP 957.35

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