NIFTY50, traded with mixed momentum for the week ended on 15th September, for early two days

of the week, it rose, but traded in red region, however closed the week in green region to settle at
10085.40, up by 1.515% against last weeks close of 9934.80.

A sneak in international counter part of Nifty, showed the similar kind of momentum during the
week, and SGX nifty recorded a gain of 1.84% from previous close of 9940, to settle at 10123.

Indices rose on positive Indian macroeconomic data, of industrial output, retail and wholesale
inflation. Annual wholesale inflation, for the month of August, which has gone down below the level
of 2% at 1.88% recorded in July, has come up to the level of 3.24%.It was recorded at mere 1.09% for
the corresponding month, in the previous year. Along with whole sale inflation, retail inflation also
accelerated to the level of 3.36% for the month of August, compared to 2.36% in previous month.
Further providing cushion to prevent Nifty to go to red region, was the number of Indian Industrial
production, which rose to 1.2% for the month of July. Further IIP for June, which was recorded at
contraction of 0.2%, has been revised upward to the level of -0.1%.

Agriculture being the one of the major profession followed in India, monsoon cant be ignored. As
per IMD latest report, cumulative rainfall during this year's monsoon till 13 September has been 6%
below the normal rainfall.

We expect Nifty to trade with positive sentiment in the coming week, it course of direction, will
however be dependent on trend in global markets, investment by foreign portfolio investors (FPIs)
and domestic institutional investors (DIIs), the movement of rupee against the dollar.

USD/INR, despite positive macro economic data, INR depreciated to the level of 64.17 against last
weeks settlement of 63.92., on weak current account deficit data. Indias current account deficit
rose to 3 years high to $14.3billion or at 2.4% of GDP for the current first quarter of 2017-18.For the
corresponding quarter of last year, CAD was recorded at 0.1% of GDP. But the positive note was
Foreign exchange reserve, which rose to $400.73 billion from previous number of $398.12billion.

Coupling with mounting current account deficit, USD/INR has made a double bottom pattern, which
is bullish signal, in weekly chart, and prices are expected to surge to the level of 64.951.

Nifty50: Nifty is expected to trade with positive momentum in the coming week and may touch the
level of 10050, which is a major resistance for nifty. If it breaches this level, then it may further push
itself to the level of 11,000 in short trend.

Bank Nifty: Bank nifty has made evening star pattern in weekly chart, we can also see negative
divergence, so we expect bank nifty to fall to the level of 23145, in a longer trend.

Power finance Corporation:

NSE PFC, extended its gaining streak for third consecutive week, as it will be financing Telangana
State Generation Corporation (TSGenco), worth 4000crores, for the construction of prestigious
Yadadri Power Plant.
However, on technical front, PFC looks weak, as it has made a bearish harami pattern in daily chart
pattern, traders may take short position, with strict stop loss of 134.30 and hols for the target of
128.10.