TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Indian Benchmark Index Nifty has broken its range low of 8374 benchmark index closed

at 8349 on Friday, 86 points down from last trading session close of 8435. The Index displayed weakness on

Friday on the backdrop of poor Quarterly numbers. The new era of International politics has begun with

Donald Trump coming into power. On Friday much awaited Trump inaugural speech was basically clueless

about plan of “Trumponomics”, but was full of nationalistic rhetoric. Technically, Nifty is still in positive

zone. Market has been consolidating since many days and we were near to a breakout or breakdown, now.

Nifty may see breakout once it breaches levels of 8700 levels whereas a downfall would be seen if it breaches

levels of 8580. India’s benchmark index Nifty open in a negative on Monday trading session down by 20 points

at 8329. Nifty closed the Jan series almost 500 points up at pre-demonetization level of 8600 ahead of Budget

next week. Market sentiment is also upbeat for hopes of a “dream budget” this time to reduce the

demonetization pains ahead of state elections. but strict adherence of fiscal deficit target & capital market

taxation issues may also spoil the “feel good” party. Technically, Indian Stock Market is still in positive zone.

Now, Nifty is headed towards 9000 levels. We would see some profit booking that would be temporary in

nature. 8511 is a monthly reversal levels. The support for the Nifty is 8550-8496 and the resistance to the up

move is at 8707-8740 levels.

BANK NIFTY : - The Bank Nifty and Small Cap Indices ended in negative territory and closed at 18821,

300 points down from its last day’s close on Friday trading Session. The Bank Nifty open in a negative territory

on Monday trading Session down by 58 points at 18762. The Banking Shares Index remained flat on Tuesday.

It opened at 18762, made a high of 18910 and closed at 18842. it also participated in the rally with the high of

19054 and closed at 19023. The Index saw a charge of 300 points on the upside o Friday trading session. Bank

Nifty’s recent high of 19300 has been crossed and if the Index is able to sustain above 19500, then a big up

move towards 20000 levels is a possibility. Technically Bank Nifty need to stay above 19515 area for further

rally towards 19900-20000 zone. On the other side, sustaining below 19800 area, Bank Nifty may further fall

towards 19500-19100 & 18900 zone for the Next week trading sessions.

Monday, 30 January 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

8834 8710 8648 8586 8462

WEEKLY R2 R1 PP S1 S2

9573 8895 8556 8217 7539

MONTHLY R2 R1 PP S1 S2

10104 9028 8490 7952 6876

BANK NIFTY

DAILY R2 R1 PP S1 S2

20467 19957 19702 19447 18937

WEEKLY R2 R1 PP S1 S2

22633 20499 19432 18365 16231

MONTHLY R2 R1 PP S1 S2

24997 21081 19123 17165 13249

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8343 8299 8324 8276

BANK NIFTY 18745 18664 18673 18364

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8330 7945 7963

BANK NIFTY 18722 17640 16569

PATTERN FORMATION ( NIFTY )

Detail of Chart -On the Above given Chart of Nifty We can see that Nifty index has been given

positive trend or in the Range of 8400-8680 Range in Whole Week. . On the Daily Chart of Nifty it

has made the Bullish kind of Pattern. Which is a Clearly signal for Trend Continuation Signal for

Upcoming week. the levels of 8450 after which it created a high of 8680. If Trend is Followed, Nifty

would trade in Positive zone for next trading session and can touch the level of 8800. The Bollinger

Band is Also giving Signal that if it is Sustaining the Level of 8560 could move the Nifty toward the

8800 level. The support for the Nifty is 8551-8425 and the resistance to the up move is at 8760-8800

levels.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band

along with MACD. Both are the Indicators trading in Negative Territory and it is clearly visible if the

banking Index is able to Sustain the level of 19800 can uplift the index toward the 19900-20000 level

in near term. From this level we are Expecting the If Bank Nifty is able to Sustain the Level of

19750-19800 may go Further Up side to the level of 19920-19980-20000 Level for Next week or

sustaining below 19500 zone, Bank Nifty may further fall towards 19300-18950 area for next week

trading Session. The Support for Bank Nifty is at 19525-19152 and the Resistance 19950-20190 to the

up move is at 20150-20280-20360 levels.

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2ACC EQ 1452 1440 1432 1421 1412

ADANI PORTS EQ 310 308 306 304 302

AMBUJACEM EQ 236 234 232 230 228

ASIAN PAINT EQ 992 986 980 974 968

AXISBANK EQ 480 476 472 466 460

BAJAJ-AUTO EQ 2912 2885 2856 2814 2798

BANKBARODA EQ 172 168 166 164 162

BPCL EQ 738 725 715 700 688

BHEL EQ 146 140 138 132 128

BHARTIARTL EQ 332 322 312 303 294

BOSCH LTD EQ 23277 22889 22561 22173 21845

BHARTI INFRATEL EQ 358 356 354 352 350

CIPLA EQ 595 588 583 576 571

COALINDIA EQ 322 320 318 316 314

CAIRN INDIA LTD EQ 284 282 280 278 276

DRREDDY EQ 3039 3015 2988 2964 2937

GAIL EQ 499 491 486 478 473

GRASIM EQ 944 936 930 922 916

HCLTECH EQ 853 847 844 838 835

HDFC EQ 1403 1387 1358 1342 1313

HDFCBANK EQ 1312 1302 1292 1284 1276

HEROMOTOCO EQ 3291 3250 3225 3184 3159

HINDALCO EQ 198 194 190 186 182

HINDUNILVR EQ 888 876 864 852 848

ICICIBANK EQ 283 278 269 264 255

ITC EQ 270 263 260 253 255

INDUSIND BANK EQ 1284 1268 1247 1239 1224

INFY EQ 942 928 912 889 874

IDEA CELLULAR EQ 78 77 76 75 74

KOTAKBANK EQ 812 802 790 788 774

LT EQ 1485 1463 1448 1426 1411

M&M EQ 1280 1266 1254 1240 1228

MRF EQ 53891 53596 53338 53043 52785

MARUTI SUZUKI EQ 5992 5956 5890 5854 5788

ONGC EQ 210 207 205 202 200

NTPC EQ 182 180 175 173 168

RCOM EQ 32 32 31 31 30

RELCAPITAL EQ 476 470 466 460 456

RELIANCE EQ 1033 1028 1024 1019 1015

RELINFRA EQ 539 533 527 521 515

RPOWER EQ 46 45 44 43 42

SBIN EQ 273 270 264 261 255

SSLT( VEDL) EQ 260 259 257 256 254

SUNPHARMA EQ 647 644 638 635 629

TATA MOTORSDVR EQ 348 344 342 338 336

TCS EQ 2394 2377 2361 2344 2328

TATAMOTORS EQ 557 548 544 535 531

TATAPOWER EQ 82 81 80 79 78

TATASTEEL EQ 474 472 470 468 466

UNIONBANK EQ 147 145 143 141 139

YES BANK LIMITED EQ 1433 1415 1402 1384 1371

ZEEL EQ 525 511 498 484 471

TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 MPS LTD. 744 681 - 8.52 %

2 IPCl LAB 558 536 - 4.00 % -

43 REPRO INDIA LTD. 407 394 - 3.22 %

4 BAJAJ CORP LTD. 395 383 - 3.17 % -

35 AJANTA PHARMA 1781 1728 - 2.97 %

6 8K MILES SOFT 636 618 - 2.82 % -

27 ALEMBIC PHA. 593 576 - 2.82 %

8 PIRAMAL ENTER 1768 1718 - 2.79 % -

29 WIPRO LTD 477 465 - 2.58 %

10 KAVERISEED CMP 481 470 - 2.20 % -

211 ABB INDIA 1131 1110 - 1.87 %

12 VOLTAS LTD. 342 336 - 1.81 % -

113 JK PAPER LTD. 94.85 93.35 - 1.58 %

14 INFOSYS 948 942 - 0.69 % -

0

15 HUL 860 855 - 0.52 %

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1 HINDALCO INDUS. 171 190+ 11.13 %

2HDFC 1237 1373 + 11.02 %

3 IDEA CELLULAR 71 78+ 9.09 %

4BANK OF BARODA 154 167 + 8.65 %

5 KOTAK BANK 723 785+ 8.57 %

6BHEL 129 139 + 8.18 %

7 GRASIM 863 931+ 7.87 %

8ACC 1326 1430 + 7.86 %

9 ADANI PORTS 284 303+ 6.97 %

10AMBUJA CEMENT 217 232 + 6.94 %

11 ZEEL 467 496+ 6.34 %

12ULTRATECH 3471 3686 + 6.18 %

13 SBIN 251 266+ 6.13 %

14BHARAT PETRO 664 704 + 6.02 %

15 BAJAJ AUTO 2701 2854+ 5.67 %

NEXT WEEK STARS ( AS PER TECHNICAL ANALYSIS )

NSE FUTURE

NSE FUTURE : BUY ICICIBANK FUTURE ABOVE 274 TGT 280 SL 270

NSE FUTURE : BUY ASHOKLEY FUTURE ABOVE 93.50 TGT 96.50 SL 92

NSE FUTURE : SELL ASIANPAINT FUTURE BELOW 870 TGT 830SL 890

NSE CASH

NSE CASH : BUY VIPIND NSE CASH ABOVE 136 TGT 147 SL 132..

NSE CASH : BUY LIBERTSHOE NSE CASH ABOVE 180 TGT 198 SL 175.

NSE CASH : BUY RBLBANK NSE CASH ABOVE 412 TGT 443 SL 399.

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

FDI outflows matches FPIs’ in volatility - While foreign direct investment flowing into

India hit a high of $ 43 billion in the April-November period, a record $ 16.4 billion went the

other way amid private equity exits and other divestments. In fact, $ 6 billion rushed out in a mere

two months — October and November — according to the Reserve Bank of India’s latest

monthly bulletin. That almost matches foreign portfolio investment in terms of volatility — FPIs

pulled out a net $ 7.3 billion during those two months. While this could be partly attributed to PE

investors exiting through initial public offers and other avenues, some of it could be due to

repatriation of profits. Divestments and strategic sales too could have contributed to a one-time

spike in outflows, experts said. The FDI outflow of $16.4 billion is the highest-ever in a year,

even though the fiscal close is four months away from November. Outflows in the same period

last year amounted to $ 6.5 billion

Government raises Rs. 30,000 crore via disinvestment proceeds - The government

has raised around Rs. 30,000 crore from disinvestment proceeds, said department of investment

and public asset management secretary, Neeraj Gupta. This is the highest amount grossed through

the stake sale programme. In this fiscal, the government has budgeted around Rs. 56,500 crore

from disinvestment proceeds, of which Rs. 20,500 crore was to come through strategic sales. The

government will also divest its 10% stake in Moil Ltd. on Tuesday where it currently holds

75.58% stake. “We will do our best to achieve the disinvestment target,” said Gupta added.

FRBM panel to relax 2017-18 fiscal deficit target to 3-3.5%'. - The government

panel set up to review the working of Fiscal Responsibility and Budget Management Act, is

expected to relax the fiscal deficit target to 3-3.5 per cent of GDP for 2017-18, says a report.

According to Bank of America Merrill Lynch , the N K Singh Committee would build cyclicality

in setting fiscal deficit projections by switching to a target range 3-3.5 per cent from a point target

of 3 per cent. The NK Singh panel is expected to submit the new fiscal consolidation roadmap

report today. "After all India's growth typically drives fiscal deficits rather than the other way

round," BofA-ML said in a research note. The report noted that Finance Minister Arun Jaitley is

expected to target a fiscal deficit of 3.5 per cent of GDP -- same as that of 2016-17 in his

February 1 Budget. On the Reserve Bank's policy easing stance, the report said that the Central

Bank is expected to cut rates by 25 bps on February 8 and in April.

India's 'dynamic economy' to grow at 7.7%: UN - India is one of the most "dynamic

emerging economies" and is likely to grow at 7.7 per cent this year on strong private demand and

government reforms but excluding the effect of demonetisation, a UN report said today. It said

demonetisation undertaken in India will have a "significant impact" on consumer spending in the

short term but the country's economy will return to the about 7.6-7.7 per cent growth. When

asked as to why the UN has not taken into account demonetisation impact on growth forecast,

Economic Affairs Officer at UN ESCAP Matthew Hammil said: The UN report was prepared in

late November, then finalised in December."

November IIP 'false positive', doesn't reflect reality: Crisil - Descibing the official

data on the index of industrial production for November 2016, during which demonetisation was

announced, as a "false positive", Crisil Research has said that the latest IIP figures do not reflect

the true condition of the Indian manufacturing sector. Belying popular expectations, India's

factory output, as measured by the IIP released earlier this month, rose 5.7 per cent in November,

the first month of the government's demonetisation drive. Index of Industrial Production in

October had declined by 1.81 per cent, while there was a 3.4 per cent slide in the corresponding

month of last year.

Trade deficit may be in range of $ 100-110 billion by March-end: Report - The

country's trade deficit which improved by 25 per cent in the first nine months of financial year

2016-17 compared to last year, is likely to be in the range of USD 100-110 billion by March-end,

says a report. During April-December period of the fiscal 2016-17 the trade deficit was at USD

76.37 billion as against USD 100.08 billion in the same period last year. The trade deficit has

improved sharply by almost 25 per cent in the first nine months and with the present trend, the

overall trade deficit would be in the region of USD 100-110 billion for the year fiscal 2016-17"

Care Ratings said in a report.

High government debt limits room for quick deficit reduction: Moody's - Days

ahead of the budget, Moody's said its positive outlook on India reflects expectations of continued

policy reforms reducing government debt even as it feels that the high debt level limits room to

cut fiscal deficit quickly. Cautioning that India's debt-to-GDP ratio at 68.6 per cent is high

compared to peers, it said the economy will return to the previous trend by mid-2017 after

temporary effects of demonetisation fade away. "Our positive outlook on India's Baa3 credit

rating reflects our expectation that continued policy reforms will allow balanced growth to

support a sustainable reduction in the government's debt burden, currently a key constraint on

India's credit worthiness," Moody's Investors Service V-P Sovereign Risk Group William Foster

told PTI. He said persistent sizeable deficits imply that any reduction in India's debt burden will

largely rely on robust nominal GDP growth, which, in turn, is linked to a sustainable recovery in

private investment.

India Inc deal tally soars to $ 62.5 billion in 2016: Grant Thornton - India Inc's merger and

acquisition activity witnessed nearly 1,500 deals worth $ 62.5 billion in 2016 and with more

economic reforms expected, the current year is also likely to be 'action-packed', says a report.

According to assurance, tax and advisory firm Grant Thornton, M&A values clocked their highest, in

the last five years with transaction worth $ 48.5 billion through 516 M&A deals. In contrast, PE

activity slumped this year and registered its first decline in the last four years over increasing caution

in investor sentiments. There were 971 pure play PE deals worth $ 13.9 billion in 2016. "2016 has

been extremely action-packed with tremendous growth in deal activity and a slew of economic and

structural reforms," Harish HV, Partner at Grant Thornton India LLP said.

✍ TOP ECONOMY NEWS

Foreign exchange reserves rose by $ 688 mn to $ 359.8 billion in the week to January 13 helped

by increase in the foreign currency assets.

Gold imports witnessed a fall of about 32% to $ 17.7 billion in April-December of the current

fiscal, which is expected to keep a lid on the current account deficit.

SEBI plans to further tighten the regulations governing participatory notes amid persisting

concerns that this route is being used for illicit fund flows.

Claiming that demonetisation has affected country's growth, a major central revenue body has

asked Finance Minister not to implement Goods and Services Tax in a hurry and threatened to

take legal recourse in case their concerns are not addressed.

The Central Board of Direct Taxes has sweetened the deal for certain VC and PE funds investing

in start-ups, encouraging such funds to invest more with a promised beneficial tax treatment of

their future gains from transfer of shares.

A record 1.57mn renewable energy certificates were traded on the country’s two energy

exchanges, giving life to hope for a pick-up in the REC market.

India and the UAE signed as many as 13 pacts.

✍ TOP CORPORATE NEWS -

L&T Hydrocarbon, a wholly-owned subsidiary of Larsen & Toubro, has won orders worth

Rs. 17 billion order in its construction services vertical.

Mahindra & Mahindra Limited has acquired a majority stake in Hisarlar Makina Sanayi ve

Ticaret Anonim irketi for around USD19mn nearly Rs. 1.29 billion.

Future Consumer Limited has entered into an equal joint venture with Tilda Hain India

(part of the US-based Hain Celestial Group) to manufacture, market and distribute natural and

organic products.

Motherson Sumi Systems Limited has entered into an agreement to acquire Finnish truck wire

maker PKC Group for EUR 571 million about Rs. 40 billion. The acquisition will be made

through a wholly-owned subsidiary of MSSL.

PVR Limited will continue to invest Rs. 2.50-3 billion next fiscal to ramp up its screens across

the country.

GMR Infrastructure Limited has completed the international competitive bidding process for the

selection of a developer for Integrated Retail Development at the Delhi International Airport Ltd.

Tata Communications Limited said Tata Communications (Netherlands) has made an

investment in the Netherlands-headquartered Teleena Holding, becoming the single largest

shareholder in the company with 35% stake.

A major fire broke out in one of the manufacturing units of Amara Raja Batteries Limited

located in Chittoor district of Andhra Pradesh.

After selling its stake in KG gas block to ONGC Limited for USD 1.2 billion, Gujarat State

Petroleum Corporation is mulling a big financial restructuring including trimming stake in some

business like LNG and portfolio readjustment.

Infosys Limited has invested a little over USD 62 million from its USD 500 million innovation

fund in start-ups covering areas like IoT, automation and drones.

Reliance Industries is in talks to raise as much as USD 2.25 billion Rs. 153 billion in what

could be one of the biggest offshore debt issues by an Indian corporate as the energy-to-retail

conglomerate seeks to replace existing high-cost borrowings as well as build a war chest for its

aggressive expansion strategy in telecom.

Suzlon Group has bagged a 50.40MW order from a leading power utility in Gujarat.

State oil firms have spent 90% of this fiscal’s capital expenditure in the first nine months, with

ONGC Videsh, Oil India and Indian Oil Corporation having exceeded their annual targets already.

Bajaj Auto Limited is making a second attempt to enter Indonesia, this time pillion-riding on

the number one European bike brand.

Lupin Limited has received final approval for the generic version of anti-depressant Paroxetine

Extended Release tablets from the US health regulator.

Suven Life Sciences Limited has been granted a patent by Australia for a drug used in the

treatment of neuro-degenerative diseases.

Manpasand Beverages Ltd is planning to increase its production capacity to more than double

in the next 12-18 months. The company will set up four new manufacturing plants having total

production capacity of 0.2mn cases per day as against the current 0.17mn cases per day.

Sun Pharmaceutical Industries is looking to sell its US subsidiary, Ohm Laboratories, as

it looks to consolidate its operations in its biggest overseas market.

Cyient Limited said its subsidiary has signed a definitive agreement to acquire 100% equity in

the Certon Software Inc. in an all-cash deal.

Ajanta Pharma Limited said that there is no import alert by the USFDA on the company's

manufacturing unit in Aurangabad and it continues to supply to the US market.

Lupin Limited has launched generic version of contraceptives Ortho-Cyclen tablets after getting

approval from the US health regulator.

BASF, whose global business portfolio includes chemicals, agricultural solutions, and oil and gas,

plans to launch five products for rice crop protection in India.

North Eastern Carrying Corporation announced that it has bagged a contract worth Rs. 4 billion

from Tata Steel Limited for transportation of raw materials.

BHEL, in association with ABB, has bagged a project worth Rs13.60bn from Power Grid Corp.

JSW Steel has submitted a bid of Rs250bn to banks for debt-ridden Bhushan Steel.

Indian firms in December 2016 raised USD 2.8 billion in overseas borrowings, including that

from rupee denominated bonds.

Investments in domestic capital markets through participatory notes (P-Notes) have plunged to

41-month low of Rs. 1.57 trillion in December.

Biocon has bagged a MYR 300 million about Rs. 4.61 billion contract from the Ministry of

Health, Malaysia, to supply recombinant human insulin formulations for a period of three years.

Natco Pharma said the US health regulator has made six observations after the completion of

inspection of its Kothur formulation facility in Telangana.

Heineken International is caught in a bind as it is unable to remove chairman Vijay Mallya from

its Indian joint venture United Breweries despite owning a higher stake. The beleaguered

billionaire is causing reputational risks to United Breweries due to his legal battles with lenders

and investigation by government agencies for misappropriation of funds.

Atlanta has secured a Rs. 12.92 billion road project in Gujarat from the National Highways

Authority of India.

Jubilant Life Sciences has received ‘Responsible Care 14001:2013 certification’ under the

American Chemistry Council’s Responsible Care programme for its corporate office in Noida and

for its manufacturing Unit in Gajraula.

Tata Steel Limited will acquire 51% stake of Creative Port Development Pvt , a move that may

optimise in-bound and out-bound supply chain for its steel plants.

The Board of Directors of Multi Commodity Exchange Ltd took a decision to appoint a forensic

auditor for software provided by ODIN. The vendor company is owned and operated by 63

Moons Technologies Ltd, which was earlier known as Financial Technologies India Ltd.

SRS Ltd is in talks with multiplex operators including INOX and private equity players to sell its

cinema business.

Wipro signed an agreement to acquire Info SERVER SA, an IT service provider focussed on the

Brazilian market for USD 8.7 million.

Delhi High Court sought the responses of the Centre and Directorate General of Foreign Trade on

a plea by Cairn India Ltd challenging a single judge order dismissing its petition for exporting its

share of crude oil from Barmer oil field in Rajasthan.

Mezzion Pharma has filed a suit against Dr Reddy’s Laboratories in a US court. It has alleged

the supplier had committed fraud by hiding significant deficiencies in the Current Good

Manufacturing Practice, or CGMP, regulations enforced by the US health regulator.

NTPC Limited has raised EUR 500 million through overseas bonds sale that perhaps may be the

first longest tenor euro-denominated issuance by an Indian company.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

A State Bank of India-led consortium of lenders on Monday filed a plea in the Supreme Court

seeking to be included in the proceedings of a case involving Aircel, saying they would be

“severely” affected if the telco is restrained from earning revenue using its 2G airwaves, which

would impact repayment to creditors.

In a bid to create awareness about a bank's commitment towards their customers, the Banking

Codes and Standards Board of India will organise "Know Your Rights" programme in select

urban and rural areas of the country to enhance awareness on Banking Codes at the grassroot

level, a top official said here today.

With $ 336 million of total revenue in 2016, the lowest for investment banks in the last five

years, million-dollar annual bonuses have all but vanished. Shrinking business has not only taken

a toll on team sizes, but annual payouts as well. Global banks such as Citi, JPMorgan, Goldman

Sachs, Bank of America Merrill Lynch and Morgan Stanley among others have announced annual

bonuses — none in seven figures, according to bankers and head hunters.

India’s largest banks are building a consortium to test an interbank blockchain platform, putting

the country at the cutting edge of adoption of the technology that forms the backbone of

cryptocurrency Bitcoin. The move comes after the central bank’s technology arm the Institute for

Development and Research in Banking Technology released a white paper earlier this month

saying its pilot, for a blockchain platform to settle trade finance transactions, had been successful.

The government is likely to soon announce the second tranche of capital infusion in state-run

lenders, as it tries to assess their requirements to help them maintain appropriated regulatory

capital. Around six banks may get more than Rs. 10,000 crore in the second round. Banks have

made presentations to the finance ministry on their requirements, said a government official

aware of the deliberations.

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