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 86808700 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 sectors 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 NPAs. 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

8790
WEEKLY

8706

R2

S1

8664

8622

S2
8538

R1

PP

S1

8737

8648

8559

R1

PP

S1

S2

8837

8633

8429

8021

R1

PP

S1

S2

19517

19390

19263

19009

R1

PP

S1

S2

19225

18609

PP

S1

19095

18082

8915
MONTHLY

PP

R2
9245

S2
8381

BANK NIFTY
DAILY

R2
19771

WEEKLY

R2
21073

MONTHLY

19841

R2

R1

22134

20108

MOVING AVERAGE

21 DAYS

NIFTY

17377
S2
16056

50 DAYS

100 DAYS

200 DAYS

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
AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
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
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

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
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

79
280
1139
602
2961
165
116
143
358
565
343
171
3048
371
4734
800
1385
1256
3400
161
923
257
253
1210
1047
91
791
1508
1475
37074
4952
244
120
52
478
1029
607
54
264
184
799
518
79
400
138

79
277
1127
595
2945
163
114
142
354
561
339
169
3028
367
4685
791
1375
1252
3379
159
916
256
252
1199
1034
89
785
1500
1464
36561
4926
242
119
51
472
1021
599
53
261
181
791
513
78
395
136

78
275
1114
591
2933
159
113
141
350
557
335
168
3016
365
4647
785
1367
1247
3359
158
909
253
250
1193
1026
87
780
1490
1458
36286
4908
241
118
50
468
1014
595
52
257
177
785
511
77
389
135

77
272
1102
584
2917
157
111
140
346
553
331
166
2996
361
4598
776
1357
1243
3338
156
902
252
249
1182
1013
85
774
1482
1447
35773
4882
239
116
49
462
1006
587
51
254
174
777
506
76
384
133

77
270
1089
580
2905
155
110
139
342
549
327
165
2984
359
4560
770
1349
1238
3318
155
895
249
247
1176
1005
83
769
1472
1441
35498
4864
238
115
48
458
999
583
50
250
170
771
504
75
378
132

TOP 15 ACHIEVERS
SR.NO

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

PREV
CLOSE

SCRIPT NAME

CMP

HINDALCO

146

158

BANKBARODA

149

161

CIPLA

515

556

SBIN

243

258

ADANI PORTS

258

273

ULTRATECH CEM

3722

3926

TATA STEEL

374

392

AMBUJA CEMENT

264

276

NTPC

160

166

TATA POWER

75

78

YES BANK

1290

1335

ONGC

233

241

ICICI BANK

245

253

BHEL

138

142

AURO PHARMA

747

765

//
% CHANGE

+8.61 %
+8.05 %
+7.92 %
+6.25 %
+5.73 %
+5.50 %
+4.64 %
+4.52 %
+3.86 %
+3.79 %
+3.51 %
+3.42 %
+3.23 %
+2.53 %
+2.35 %

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

BHARTI INFRA

366

342

-6.49 %

TCS

2738

2603

-4.93 %

WIPRO LIMITED

543

520

-4.35 %

TECH MAHINDRA 493

473

-4.08 %

HCL TECH

814

781

-3.97 %

INFOSYS

1062

1021

-3.88 %

GAIL LIMITED

374

363

-2.75 %

HUL

935

910

-2.60 %

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 %

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

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 nonplan 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-venturebacked 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 VCbacked 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 appto-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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(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an
officer, director or employee of the subject company;
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market
making activity for the subject company.