TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES

)
NIFTY FIFTY : - The Market has kick started the week on a strong note supported by Index heavyweight.
The Nifty is up 50 points or 0.7 per cent at 7784. Asian stocks open mixed, as oil prices rallied on supply
outages in Canada. The Chinese economy is showing fresh sign of stability amid a broader slowdown. The
Market is fluctuating in a band after the sharp run-up over the past 2-3 months. We are expecting the
short-term trend will be dictated by the remaining quarterly numbers and further announcement on
monsoon apart from global cues. What would determine the market movement for short-term is how
global market react to the rebound ,that we are seeing because of the US data. Although the Volatility in
the market will be continue Nifty may consolidate between 7600 to 8000 levels. With Nifty50 at 7900 on a
closing basis. We are heading for the 8000-8150 levels. The open Interest on 7900-8000 are very high and
they are still showing outstanding position it will be very difficult for Nifty to cross the level of 8000. The
Strong Support for Nifty is 7800-7700 and Resistance is 8050-8160.
BANK NIFTY : - The Bank Nifty has opened positive on Monday at 16357 up by 61 points or 0.4 per cent.
The Finance Ministry has said that the Fresh capital to Public Sector Banks will be linked to their
Performance , especially Recovery done by them, official have conveyed to Banks in an Interaction. The
Reserve Bank of India may face serious challenge from the softer interest rate regime when it come to
managing cash or liquidity in the system. The Reserve Bank of India has cautioned Banks from lending
more to power distribution companies or Discom in a recent letter to select state owned banks the
Regulator has advised them to exercise caution in giving new loans to the utilities remind them that any
additional exposure to Discom. The Nifty Trend seen bull side on technical basis. We could see the good
rally in Public Sector Banks in upcoming week. The Crucial levels for Bank Nifty is 16690-16700 down side
and 17150-17260 is up side.

TECHNICAL VIEW : NIFTY FUTURE
NIFTY FUTURE

R2

R1

PP

S1

S2

DAILY

8085

7951

7884

7817

7683

WEEKLY

8299

7973

7810

7647

7321

MONTHLY

8445

8025

7815

7605

7185

R2

R1

PP

S1

S2

DAILY

17883

17165

16806

16447

15729

WEEKLY

18890

17338

16562

15786

14234

MONTHLY

18935

17397

16628

15859

14321

TECHNICAL VIEW : BANK NIFTY

BANK NIFTY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY FUTURE

7813

7696

7588

7837

BANK NIFTY

16504

15999

15722

16638

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY FUTURE

7956

7379

6840

BANK NIFTY

17038

14574

17596

PATTERN FORMATION ( NIFTY )

Detail of Chart On the Above given chart of Nifty has applied the Parabolic SAR along with Moving Average Conversion &
Diversions these are the trend identifying pattern and made the Resistance level in the Nifty daily chart
that made on the above given chart we have draw the for more than the week period and it is not able to

break the up level. However in upcoming trading session it could come back the level which is the strong
Resistance for the Nifty50 around 8000. Now we are expecting that if the Nifty is able to sustain the 7850
level we may witness the Bullish trend of Nifty for some more sessions on the other hand if Nifty rebound
the 7800-7850 level again we may see the positive rally in the index. The Strong Support for Nifty50 is 78007750 and the Resistance is 7950-8000.

PATTERN FORMATION ( BANK NIFTY )

Details of Chart-

On the Above given chart of Bank Nifty has applied the Channel line along with MACD these are the trend
identifying pattern and made the Resistance level in the Bank Nifty daily chart that made on the above given
chart we have draw the Channel line for more than the week period and it is not able to break the up level.

However in upcoming trading session it could break the upper level which is the strong Resistance for the
Nifty50 around 16700. Now we are expecting that if the Bank Nifty is able to sustain the 16700 level we may
witness the consolidation trend of Bank Nifty for some more sessions on the other hand if Bank Nifty rebound
the 16700-16900 level again we may see the positive rally in the index. The Strong Support for Bank Nifty is
16500-16350 and the Resistance is 16900-17200.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC

EQ

1472

1464

1453

1445

1434

ALBK
AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ- AUTO
BANKB ARODA
BANKINDIA
BHEL
BHARTIARTL
CIPLA
COALINDIA
DLF
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE

EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

54
224
958
501
2566
159
88
128
367
542
287
132
2971
407
4331
735
1225
1159
2976
96
870
234
325
1076
1219
66
739
1333
1349
33789
3902
208
85
55
417
998

53
222
947
496
2549
158
87
126
363
537
285
128
2940
397
4301
729
1202
1153
2953
94
857
232
322
1069
1215
65
728
1315
1337
33429
3877
206
84
54
410
991

53
219
937
491
2529
156
86
124
358
534
281
125
2912
377
4232
721
1180
1141
2924
91
839
227
319
1062
1203
63
718
1298
1320
33140
3853
204
83
52
400
983

52
217
926
486
2512
154
86
122
354
529
279
121
2881
367
4202
715
1157
1135
2901
89
826
225
316
1055
1199
62
707
1280
1308
32780
3828
202
82
51
393
976

51
214
916
481
2492
152
85
120
349
526
276
117
2853
347
4133
707
1135
1123
2872
87
808
220
313
1048
1187
60
697
1263
1291
32491
3804
200
81
49
383
968

RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

553
51
190
105
812
399
72
333
132

539
51
188
102
807
395
71
328
129

523
50
186
100
799
390
70
325
123

NEXT WEEK STARS (AS PER TECHNIC AL ANALYSIS PRIDIC TION)
NSE C ASH
1. NSE CASH : BUY GODREJPROP NSE CASH ABOVE 328 TGT 357 SL 319.
2. NSE CASH : BUY ITDCEM NSE CASH ABOVE 141 TGT 154 SL 137.
3. NSE CASH : BUY RAYMOND NSE CASH ABOVE 472 TGT 516 SL 457.
4. NSE CASH : BUY GPPL NSE CASH ABOVE 165 TGT 180 SL 160.
5. NSE CASH : BUY RAMCOCEM NSE CASH ABOVE 496 TGT 541 SL 481.
NSE Future
1. NSE FUTURE : BUY PETRONET FUTURE ABOVE 285 TGT 288 SL 283
2. NSE FUTURE : BUY TATAELXSI FUTURE ABOVE 1925 TGT 1945 SL 1910
3. NSE FUTURE : BUY YESBANK FUTURE ABOVE 968 TGT 978 SL 960
4. NSE FUTURE : VEDL FUTURE ABOVE 102.50 TGT 104 SL 101.50
5. NSE FUTUR E : SELL ORIENTBANK FUTURE BELOW 83 TGT 81 SL 84.50

509
49
184
97
794
386
69
320
120

493
48
182
95
786
381
68
317
114

NSE - WEEKLY NEWS LET TERS
TOP NEWS OF THE WEEK
Indirect tax mop up grows 41% to Rs 64,394 crore in April - Indirect tax collections witnessed
an increase of 41 per cent to Rs 64,394 crore mainly on the account of spurt in central excise realisation.
Revenue Secretary Hasmukh Adhia said excise duty mop up in April spurt by 70 per cent to Rs 28,252 crore
as against Rs 16,546 crore in the year-ago month. "Provisional revenue figures for indirect tax for April
2016 are Rs 64,394 crore, a 41 per cent growth over April 2015 of Rs 45,417 crore," Adhia said.
RBI willing to unveil details of large borrowers, albeit for investigative agencies - The
Reserve Bank of India seems to be willing to make public the names of loan defaulters to the government
albeit on certain conditions. The central bank is open to disclosing the details of borrowers to the
government who have taken large loans of over Rs.5 crore. Moreover, RBI would share details of such
defaulters in case the information is sought by vigilance and investigative agencies, or for court cases, as
per the report.
India's fundamentals strong to attract investment: Shaktikanta Das - Ministry of Finance
said India will continue to attract investments because of the inherent strength and the return it offers to
investors. Amid concerns on how markets will react to the decision taken by India to tax capital gains from
Mauritius, Economic Affairs Secretary Shaktikanta Das said international community is moving away from
countries with zero tax regime. "India continues to be a robust economy and investments will come in
because of fundamentals of the economy and because of the strength and resilience of the economy and
return that India offers post tax," Das said.
Mauritius treaty amendment: Status quo on Participatory Notes taxation - India’s revised
tax treaty inked with Mauritius will have no bearing on investments via Participatory notes and the
existing dispensation will continue to apply on them government said. It also sees no impact on foreign
investment inflows on account of the revision. Revenue Secretary said.
Impact of drought on economy pegged at Rs. 6,50,000 Crore - Drought in 10 state is estimated
to impact the economy by at least Rs. 6,50,000 crore as about 33 crore people across 256 district are facing
the grave situation , a study has revealed. Due to two consecutive years of poor monsoon, water shortage
in reservoir as well as lowering of ground water table has created a serious challenge for the drought
affected areas in 10 states like Karnataka and Mahabharata the study by Assocham.
India well-Placed to maintain high growth despite drought, external pressures : UN
Report - In a world economy still ensnared in a low-growth trap, India is well-placed to maintain its high
growth rate despite the drought and the external pressures, according to UN analysts. The UN's mid-2016

report on the World Economic Situation and Prospects paints a "bleak picture" of the global economy
projecting a growth rate of 2.4 per cent this year and 2.8 per cent next year with little prospect for a turn
around, Lenni Montie, the Assistant Secretary-General for Economic Development, told reporters Thursday
after its release. In contrast, the report expected India to grow by 7.3 per cent this year and 7.5 per cent
next year, the strongest gross domestic product growth rate for large economy.
Raghuram Rajan says core inflation a bit higher than desired - India's core inflation remains
sticky and a bit higher than policymakers would like to see, Reserve Bank of India governor Raghuram
Rajan said on Friday. "Broadly core inflation has a been fairly sticky, a bit higher than we would want. It
hasn't moved up and down. We will continue on the task of anchoring expectations," Rajan said, speaking
at an event at the Chicago Booth business school in London. Rajan also said India was in the midst of a slow
recovery though there were signs of faster growth, with possible acceleration coming from a good
monsoon.
PEs, VCs may eye new tax havens like Sweden and Cyprus as Government tweaks
Mauritius pact - With India deciding to impose capital gains tax on investments coming from Mauritius
starting next year, private equity and venture capital funds may choose to structure investment through
other tax havens. But there too, they may take a close look at the special purpose vehicles that carry the
investments as there are fears that all such tax treaty may be amended. Fund managers and lawyers expect
high cost jurisdictions like the Netherlands, Sweden or even volatile countries like Cyprus as the next
destinations for routing India-specific investments. However, there will still have a significant impact on
private capital as most of the PE and VC investments are into unlisted companies, where capital gains will
be taxed at 40%, they said.

TOP ECONOMY NEWS
A Parliamentary panel has asked the Information and Broadcasting Ministry to consider the issue of longterm financial support to Indian manufacturers of Set Top Boxes to help them face competition from
Chinese companies.
Project cost of as many as 238 infrastructure projects, monitored by the Statistics Ministry, have overshot
by Rs 1.6 trillion from their original estimates due to delays on account land acquisition forest clearances
and other reasons.
Steel consumption in India fell to 5.75 million tonnes in April, the lowest since the same month in 2015,
dealing a fresh blow to domestic manufacturers already battling cheap imports.
Iron ore traffic including pellets, at major ports, saw a sharp fall of 28.13% in the last fiscal as imports

declined heavily and hinterland movement of the ore was subdued because of weak demand.
Passenger car sales in India rose 1.87% in April on popular new models like Maruti Baleno and Renault
Kwid, although a subdued rural market continued to affect the overall sentiment according to the Director
General of Society of Indian Automobile Manufacturers .
Odisha government, which is giving final touches to its business process outsourcing policy, aims to create
10,000 BPO seats in the state, especially in the rural pockets.
Finance Minister Arun Jaitley reportedly said India can grow better and faster on the back of global
recovery and good monsoon.
Five leading Indian-owned businesses in the United Arab Emirates will invest over $3.68 bn in
infrastructure and industrial development initiatives in Uttar Pradesh after an MoU was signed in this
regard during an investment forum.
The Protocol for amendment of the Convention for the avoidance of double taxation and the prevention
of fiscal evasion with respect to taxes on income and capital gains between India and Mauritius was signed
by both countries today at Port Louis, Mauritius.
Corporate India's merger and acquisition activity witnessed a significant uptrend in April and touched
$3.64 billion, over two-fold jump over the corresponding period last year.
Government has initiated a probe into dumping of certain radial tyres from China that are used in buses,
lorries and trucks and may end up imposing duty on them to protect the domestic industry.
The state of Tamil Nadu has been placed on top in terms of growth in live investments attracted by the
irrigation sector. Compounded annual growth rate was over 32%.
The Parliament has passed the Insolvency and Bankruptcy Code. Finance Minister Arun Jaitley moved the
Insolvency and Bankruptcy Bill in Rajya Sabha on Wednesday for debate and passage. After a brief debate,
the Upper House passed the Bill.
Telecom operators owe the government Rs. 548 billion in licence fee, spectrum charges and arrears, of
which Rs. 443 billion is under litigation, Telecom Minister said.
India will file 16 cases against the US for violating WTO treaties as certain programmes of the western
country in the renewable energy sector are "inconsistent" with global norms, Parliament was informed.
Indirect tax collections jumped 42% in April on sharp rise in excise collections owing to increased duty on
petrol and diesel.

Iran has ended free shipping of crude oil to India and has asked refiners like Mangalore Refineries and
Essar Oil to arrange for freight, Oil Minister said.
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for signing of a
Memorandum of Understanding between Securities and Exchange Board of India and Financial Services
Regulatory Authority, Abu Dhabi for mutual co-operation and technical assistance between the two
regulators.
In dismal news for the economy retail inflation , as measured by the Consumer price Index , reversing the
trend rose sharper than expected at 5.39 per cent for April compare to 4.83 in march. These numbers were
way higher that street expectation of a numbers above 5 per cent and something which definitely does not
augur well for the economy Specially for the Reserve Bank of India.
The India Meteorological Department, as well as Skymet, have made a forecast of "above normal"
monsoon this year. Monsoon will hit Kerala between May 28 and 30, two-three days before its normal
onset date of June 1, private forecasting agency Skymet said.

TOP CORPORATE NEWS Buoyed by sale of over 100,000 vehicles equipped with auto gear shift, Maruti Suzuki Limited plans to
offer this technologies in more models sold in the domestic market.
Godrej Properties is aiming to launch 15 new projects, including one in Noida, and sell its completed
commercial assets worth Rs 15 billion during this fiscal as the realty firm seeks to achieve higher growth.
ITC Limited cigarette factories have resumed production in a phased manner with the specified 85%
graphical warning pending hearing by the Karnataka High Court.
Kalyan Jewellers is aiming for a turnover of INR 13,000 crore in the current fiscal year.
Emami Limited is aggressively looking at acquisitions in India and abroad, Chief Financial Officer N.H.
Bhansali has said.
The state-run Steel Authority of India Limited would curtail the strength of its workforce in a move
aimed to reduce the manpower cost in the company.
Public lender Bank of Baroda and Max Bupa, a specialist health insurer, today put in place a
bancassurance corporate agency agreement.

Eicher Motors, the maker of Bullet motorcycle has announced plan to invest Rs 10 billion in FY-17 to
fund its expansion plans.
ONGC Limited crude oil production has risen for the second consecutive year in 2015-16 but natural gas
output continues to decline.
Sun Pharmaceutical Industries has launched an innovative mobile app to connect doctors with
asthma patients.
L&T Finance Holdings Ltd plans to sell private equity and proprietary investments worth over Rs 8bn to
unlock value in current financial year.
Infosys Foundation, philanthropic arm of Infosys, has signed a pact with Indian Institute of Science
Education and Research , Pune, to support students from economically weaker section to pursue 'high
quality' education.
Crompton Greaves has signed a share purchase agreement with First Reserve International, a US
private equity fund for an enterprise value of 115 million euros.
UltraTech Cement has received approval from the board of directors to hike the registered foreign
portfolio investors limit to up to 30 % from existing 24 per cent.
Crompton Greaves has launched a smart ceiling fan which could sense the temperature in the room and
change the speed accordingly, in order to accelerate its growth in a fan market which is growing at a slow
pace.
Tata Steel has achieved a major breakthrough in its industrial park being developed at Gopalpur in
south Odisha with the project getting the status of a Special Economic Zone .
Kotak Mahindra Prime said Tuesday it will raise Rs 500 mn by issuing debentures on a private placement
basis.
Maruti Suzuki limited has urged its component suppliers to make investment for the future as the
company's requirements are expected to grow, with it predicting double-digit expansion in annual sales at
least until 2020.
Emami Ltd. has relaunched male fairness cream Fair and Handsome to consolidate its share in the Indian
market, for which it will launch a new advertising campaign with its brand ambassador Shah Rukh Khan.

The government has asked global automotive technology companies Bosch and Cummins to provide
retrofitting technology to convert old diesel vehicles into electronic vehicles.
Havells India Ltd. on Tuesday said Karnataka Industrial Areas Development Board has allotted land
admeasuring 62 acres to it at Vasanthanarasapura Industrial Area, Tumkur, Karnataka, for establishing a
unit for manufacturing of cable & wire, MCB, LED, electronics, solar lights at a tentative rate of Rs 4.03
mn/acre.
Adani Power has raised Rs. 3.3 billion by allotments of non-convertible debentures on a private
placement basis.
Vedanta Resources has pegged its aluminium production cost below the level of US$ 1400 a tonne in
this financial year, aiming to close in on the gap with global producers like Rusal, Rio Tinto Alcan and
Norsk Hydro.
Sterlite Technologies has won the Jaipur Smart City Phase - II Project. Jaipur was selected under the
Smart City Mission of the Ministry of Urban Development launched in 2015. This is Sterlite's second smart
city project win.
Reliance Jio Infocomm, Reliance Industries subsidiary, has launched its digital wallet service,
JioMoney Wallet, for Indian consumers, following the introduction of 4G services to the public through an
employee-driven invite system.
Hit hard by the retrospective tax, Cairn Energy plc of UK has offered to pay 15% of the Rs. 102 billion
principal amount in return for government lifting freeze on the 9.8% shares it holds in its erstwhile
subsidiary, Cairn India.
Zydus Cadila has received final approval from the US health regulator to market anti-diabetic Glyburide
tablets in the American market.
TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Lakshmi Vilas Bank new chief executive has drawn up an ambitious 10-year plan to revitalise business
and has set up big targets to improve performance on a variety of operational parameters.
The Reserve Bank of India may face serious challenge from the softer interest rate regime when it comes
to managing cash or liquidity in the system as significant fund flows could create a vacuum between

September and November this year.
Fresh capital to PSU banks will be linked to their performance, especially recoveries done by them — this is
the message that finance ministry officials have conveyed to banks in an interaction recently, said senior
bank officials.
Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said
even as he appeared favouring their case for easing of strict capital control measures to boost growth.
Kotak Mahindra Bank announces rise in earning at a time when most Indian Bank’s Profitability has
been marred by high levels of bad loans and Provisions Kotak Mahindra Bank Earning reflect the rise of
yet another Superior class Bank despite the Challenging time.
The Reserve Bank of India has cautioned Banks from lending more to power distribution companies or
dis com in a recent letter to select state owned banks the Regulator has advised them to exercise caution in
giving new loans to the utilities remind them that any additional exposure to Discom.
Public sector banks continue to report poor earnings on the back of worsening asset quality. Bengaluruheadquartered public sector lender Vijaya Bank on Thursday reported a 26% drop in net profit for the
fourth-quarter ended March 2016 at Rs 71.3 crore on account of higher provisioning.
Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said
even as he appeared favouring their case for easing of strict capital control measures to boost growth. The
outspoken Governor also likened the situation in India to that of small and medium enterprises in
industrial countries, saying a need for faster growth is the central factor in both scenarios.

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