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It was a bloodbath on Dalal Street as the

Nifty tanked from the word go and

extended the selling pressure in late trade

to close lower for the sixth consecutive

session on February 28.

The Indian rupee has recovered from its

day's low but trading lower by 51 paise at

72.07 per dollar, amid selling seen in the

domestic equity market due to worries

over Coronavirus fears. It touched an

intraday low of 72.27 per dollar.

The decline was followed by a correction

across global mats as the coronavirus

continued to spread to the US and

Europe, which raised concerns over

global economic growth. The virus that

originated in China in late 2019 has now

spread to more than 50 countries.

lnduslnd Bank share price declined over

2 percent intraday on February 28 despite

the Reserve Bank of India approving the

appointment of Sumant Kathpalia as the

managing director and chief executive

officer at the private lender.

The long-awaited initial public offering

of SBI Cards and Payment Services, a

subsidiary of the country's largest lender

State Bank of India, is set to open for

subscription.It will open on March 2 for

four days, and will close on March 5.

Lemon Tree Hotels share price gained

6.7 percent intraday on February 28 amid

stock market carnage after the hospitality

company opened its second international

hotel in the Bhutanese capital Thimphu.

Aviation stocks plunged on February 28,

in sync with the broader market

sentiment, as concerns over rising cases

of coronavirus wiped out the risk appetite

of investors. Shares of InterGlobe

Aviation (IndiGo) and SpiceJet fell up to

5 percent.

HDFC Life Insurance Company,

Bandhan Bank and Info Edge will be

included in the Futures & Options

segment effective February 28, and

anecdotal evidence suggests that after

such inclusion most stocks rise in double

digits. The list of stocks under the F&O

segment will go up to 143 from 140 from

February 28, when the March series

begins.

The share price of RITES fell 5.7 percent

intraday on February 27, the day the

state-owned engineering services

company’s offer for sale opened for

subscription.

Biocon share price declined 2 percent in

the early trade on February 27 after the

pharma company received observations

for its Bengaluru facility from the US

drug regulator.

India Cements share price rose over 6

percent in early trade on February 27

after billionaire Radhakishan Shivkishan

Damani and his brother Gopikishan

Damani increased their stake in the

company for the second consecutive day.

Shriram Transport Finance Company

(STFC) has risen up to Rs 500 crore by

issuing bonds on private placement basis.

"The Allotment Committee - NCDs of

the company in its meeting held today

approved and allotted rated, listed,

secured, redeemable, non-convertible

debentures (NCD) of face value of Rs 10

lakh each on private placement basis,"

the company said in a regulatory filin

NEWS LETTER

Beyond Research,

Beyond Advice

29th February 2020

Issue – 388

Market News

MARKET-HUB

Results & Corporate Action

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Nifty Spot in Last Week:-

As we saw the Price Movement in Nifty Spot in last week that In Upside is

12,012.55 and in Downside 11,175.05

Nifty Spot in Upcoming Week:-

There is strong support is 10,950 if not close below this level then we will see buy in

deep upside target 11,400 to 11,500 possibility.

Bank Nifty in Upcoming week:-

There is strong support is 28,900 if not close below this level then we will see buy in

deep upside target 29,700 to 29,900 possibility if close below 28900 level then we

will see down side target 28,350 possibility.

Market Technical

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BANKNIFTY WEEKLY CHART

NIFTY WEEKLY CHART

Recommendation for next week

MARKET-HUB

COPPER: - Sell on rise with stop loss 440

down side target will be 413 possibilities,

down side 413 level strong support.

CRUDEOIL: - There is strong resistance is

3500 if not close above this level then we will see

sell on rise down side target 2975 possibility.

.

.

SILVER: - Buy in deep with stop loss

43,000 upside target will be 45,500

possibilities, if close below 43,000 levels then

down side target 41,700 possibility.

GOLD: - Sell on rise with stop loss

43,000 down side target will be 41000 to

40,300 possibilities.

Commodity Market

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Currency

FUT

LEVEL

DEMAND

ZONE LEVEL

CLOSE SUPPLY ZONE

LEVEL

D2 D1 S1 S2

USDINR 71.85 72.10 72.40 72.50 72.89

GBPINR 92.50 93.00 93.35 93.98 94.50

EURINR 78.78 79.19 79.94 80.40 81.25

JPYINR 65.67 66.09 66.67 67.00 67.50

USDINR: - Investors can buy on deep with

stop loss of 71.50 upside target will be

72.50 to 73.50 possibilities.

GBPINR: - Investors can sell on rise

with stop loss 94.00 down side target

will be 93.00 possibilities.

EURINR: - Investors can sell on rise

with stop loss 81.35 down side target

will be 80.20 to 79.20 possibilities.

.

JPYINR: Investors Sell on rise

with stop loss of 67.60 down side

target will be 66.16 possibilities.

Currency Market (Future Levels)

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Premium / Discount

(USD/ INR) Based on

Forward Rates

Duration Premium

One

month

Forward

0.26

Three

month

Forward

0.46

Six

month

1.26

One year 2.67

RBI reference Rates

Currency Rates

USD 71.61

GBP 92.63

Euro 78.17

100 Yen 65.06

Currency Corner

MARKET-HUB

How to plan your tax-saving investments for the year? Part1

(Based on an article on ET Money website: https://etmoneyblog.com/beyond-section-

80c-10-ways-to-save-taxes/

The best time to start planning your tax-saving investments is at the

beginning of the financial year. Most taxpayers procrastinate till the last

quarter of the year, resulting in hurried decisions. Instead, if you plan at

the start of the year, your investments can compound and help you

achieve long-term goals. Remember, tax-saving should be an additional

perk and not a goal in itself.

Use the following pointers to plan your tax-saving for the year:

Check the tax-saving expenses you already have – like insurance

premiums, children’s tuition fees, EPF contribution, home loan

repayment etc.

Deduct this amount from Rs 1.5 lakh to figure out how much to

invest. You needn’t invest the entire amount, if expenses are

covering the limit.

Choose tax-saving investments based on your goals and risk profile.

ELSS funds, PPF, NPS and fixed deposits are some of the popular

options.

This way, you can figure out how to exhaust the 80C limit. It is best to

begin investing in the first quarter of the financial year so that you can

spread the investments over the year. Doing this won’t burden you at the

end of the year and will also allow you to make informed investment

decisions

1. Tax saving with NPS under Section 80CCD (1B): Taxpayers can save

additional tax by investing up to ₹ 50,000 in NPS. This is over and

above the benefit, they can claim on contributions under Section

80c. They also have the option of utilizing NPS for the ₹ 1.5 lakh

limit of Section 80c. This combination will take total deduction one

can claim with NPS to ₹ 2 lakh.

2. Tax savings on Health insurance premiums under Section 80D: To

encourage self-financed health insurance, there is a tax incentive.

Section 80D allows for tax deductions from the total taxable income

towards the payment of health insurance premiums as well as

Page: - 3

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expenses incurred towards healthcare. Do check the policy

document to ascertain if premiums paid for it qualify for tax

deduction under Section 80D.

3. Tax savings on repayment of an Education loan under Section 80E:

Borrowing to realize higher education dreams is common these

days. Students who have availed an education loan to pursue their

education are provided a tax benefit on the repayment of the

interest component of the loan under Section 80E. This tax benefit

can be claimed by either the parent or the child (student),

depending on who repays the education loan to start claiming this

deduction.

This tax deduction is also available only on taking an education loan from

institutions and not from family members or friends and relatives.

Taxpayers can claim the deduction from the year they start repaying the

interest on the education loan and in the seven immediately succeeding

financial years or until the interest is paid in full, whichever is earlier.

There is no limit to the deduction claimed on the interest repayment.