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Equity Research Report 07 March 2016 Ways2Capital .pdf



Original filename: Equity Research Report 07 March 2016 Ways2Capital.pdf
Title: TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Nifty50 started on a cautious note with a flat trade in morning on
Monday on the day of union budget 2016.The Nifty was trading at 7017 down 13 points
or 0.18 per cent. It touched a high of 7,053 and a low of 7,006. The Nifty started flat on
Tuesday but was still trading above its crucial support level of 7,000, weighed down by
losses in oil & gas, consumer durable, capital goods, auto stocks. With India's price-tobook versus return on equity premium dropping below 40 percent for the first time since
May 2015. In a super rally post Budget also boosted by strong Asian cues, the market is
making mighty gains. The Nifty is up 500 points, Nifty Bank surges more than 1500
points from Budget day lows in two trading session. The Nifty50 reclaimed it crucial
resistance level of 7,300 and was trading near its next crucial level of 7,350. FM Arun
Jaitley pledge to maintain FY16 fiscal deficit target at 3.5 per cent of the GDP. The
positive comes from Wednesday some anticipation of Policy easing by RBI amid positive
global market. The Crucial Support for Nifty is 7370-7220 and the Resistance for Nifty
is 7530-7680.
BANK NIFTY : - The Bank Nifty opened higher on Monday at 13818 up by 27 points
or 0.2 %. Bank Nifty jumped 4.7% , on Tuesday the Banking stocks was top gainer. The
Reserve Bank of India relaxed norms on tier-I capital relating to the treatment of certain
balance-sheet items, including property, which will help PSU Banks unlock capital
totaling about Rs. 35,000 crore. Bank Nifty opened with a terrific 3 per cent gain, which
is really large for an index. We are headed further higher. On Wednesday Once again the
interest rate sensitives like the banking and the auto stocks led the rally on hopes that the
Reserve Bank of India is likely to announce reduction of interest rate.

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

R2
7686

WEEKLY

R2
9287

MONTHLY

R2
8726

R1

PP

S1

S2

7532

7455

7378

224

R1

PP

S1

S2

7939

7265

6591

5243

R1

PP

S1

S2

7798

7334

6870

5942

BANK NIFTY
DAILY

R2

R1

PP

S1

15689

15244

14799

R1

PP

S1

16762

14722

R2

R1

PP

19094

16330

16579

WEEKLY

R2
20842

MONTHLY

S2
13909

S2

12682

8602

S1

S2

13566

10802

50 DAYS

100 DAYS

200 DAYS

14948

MOVING AVERAGE

21 DAYS

NIFTY

7196

7428

7692

7964

BANK NIFTY

14422

15254

16222

17109

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

6885

7588

8092

BANK NIFTY

13652

16485

18540

PATTERN FORMATION ( NIFTY )

Detail of Chart On the Above given weekly chart of Nifty Applied Bollinger Band along with Parabolic SAR. and the Bollinger
Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level it has
given the Gap up opening and it is breaking the channel line also and reverse in the bull trend which is indicating
the Bull movement for the Nifty the crucial Support for Nifty is 7370-7300 and the Resistance for Nifty is 75307680 , if the Nifty is able to break the level of 7500 we may witness the level of 7700 for next week.

PATTERN FORMATION ( BANK NIFTY )

Details of ChartOn the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. and the
Bollinger Band is in the spread range it almost touched the lower band but not break. the Bollinger Band and after
touching the level it is consolidating on Bull side ,Parabolic SAR The creating dot Upside which is the clear signal
towards the consolidation Market For The Bank Nifty , however the Bank Nifty crucial Support is 15000-14800
and the Resistance is 15600-15780 .

NSE EQUITY DAILY LEVELS
COMPANY NAME

ACC
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
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

R2

R1

PP

S1

S2

EQ

1266

1252

1242

1228

1218

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

54
205
903
423
2329
154
100
112
339
552
334
113
3327
352
3577
873
1140
1044
2893
83
863
226
324
948
1198
67
685
1237
1237
34886
3664
206
97
58
375
1020
481
48
196
94
883
353
60
295
132

53
204
883
418
2313
151
97
109
334
545
330
109
3288
346
3544
854
1126
1032
2864
81
856
224
319
933
1185
65
677
1215
1227
34556
3615
203
94
57
369
1013
476
48
192
90
869
348
60
291
129

50
201
871
414
2287
147
94
106
330
537
322
107
3244
339
3497
842
1116
1013
2826
79
849
221
317
907
1172
64
661
1201
1218
34090
3571
201
89
55
364
1008
466
47
185
87
861
343
59
288
123

48
200
851
409
2271
144
91
103
325
530
318
103
3205
333
3464
823
1102
1001
2797
77
842
219
312
892
1159
62
653
1179
1208
33760
3522
198
86
54
358
1001
461
46
181
84
847
338
59
284
120

46
197
839
405
2245
140
88
100
321
522
310
101
3161
326
3417
811
1092
982
2759
75
835
216
310
866
1146
60
637
1165
1199
33294
3478
196
81
52
353
996
451
45
174
80
839
333
58
281
114

TOP 15 ACHIEVERS

SR.NO

SCRIPT NAME

PREV
CLOSE

CMP

//

% CHANGE

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

1

VEDANTA

70.90

87.40

+23.27 %

1

2

SBI

156.30

188.30

+20.47 %

2

3

HINDALCO INDUS.

66.40

79.30

+19.43 %

3

4

ICICI BANK

187.00

220.10

+17.70 %

4

IPCA
LABORATORIE
ONGC

5

TATA STEEL

247.90

287.85

+16.12 %

5

6

BHEL

93.45

107.50

+15.03 %

7

PNB

72.20

83.00

8

ADANI PORTS

200.15

9

TATA MOTORS LTD

10

UNITED
LTD.

PREV CLOSE

SPIRITS 2592.35

CMP

2432.65

(a)374.40
P
609.25

353.00

209.40

200.35

OIL INDIA LTD.

318.40

309.95

6

WELSPUN INDIA

872.65

849.75

+14.96 %

7

1438.65

1406.40

225.75

+12.79 %

8

APOLLO
HOSPITALS
MPHASIS LTD.

439.65

429.90

306.30

344.15

+12.36 %

9

BANK OF BARODA

133.70

148.80

+11.29 %

10

11

INDUSIND BANK

821.90

914.00

+11.21 %

11

12

COAL INDIA LTD

295.25

327.10

+10.79 %

13

HDFC

1022.10

1129.10

14

YES BANK LTD

690.65

15

ITC LTD

287.60

MUTHOOT
179.60
FINANCE
BAJAJ AUTO LTD. 2337.40

575.75

176.10
2296.80

12

ASIAN
PAINTS 881.80
LTD.
PIDILITE INDUS. 605.55

867.25
596.95

+10.47 %

13

FINOLEX CABLES 237.15

234.45

759.20

+9.93 %

14

ARVIND LTD.

269.05

267.95

315.20

+9.60 %

15

M&M

1218.60

1216.35

% CHANGE

-6.16 %
-5.72 %
-5.50 %
-4.32 %
-2.65 %
-2.62 %
-2.24 %
-2.22 %
-1.95 %
-1.74 %
-1.65 %
-1.42 %
-1.14 %
-0.41 %
-0.18 %

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS PRIDICTION)
NSE CASH
1.

NIITTECH NSE CASH - LONG POSITION CAN BE MADE IN NIITTECH ABOVE 498
FOR TGT OF 543 AND SL OF 482.

2.

UCOBANK NSE CASH - A CONSOLIDATION BREAKOUT WAS SEEN IN UCOBANK
AND LONG POSITION CAN BE MADE ABOVE 36 FOR TGT AND OF 39.25 AND SL OF
34.85.

3.

INOXWIND NSE CASH - LONG POSITION CAN BE MADE ABOVE 310 IN INOXWIND
FOR TGT OF 335 AND SL OF 301 .

4.

BALRAMCHIN NSE CASH - LONG POSITION CAN BE MADE IN BALRAMCHIN
ABOVE 92 FOR TGT AND SL OF 101 ,89 RESPECTIVELY.

5.

QUICKHEAL NSE CASH - LONG POSITION CAN BE MADE IN QUICKHEAL ABOVE
245 FOR TGT AND SL OF 267 ,236 RESPECTIVELY.

NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
Public sector banks wrote off over Rs 1.14 lakh crore in last 3 fiscals: Arun Jaitley FM Arun Jaitley reportedly said that State-owned banks wrote off over Rs 1.14 lakh crore
debt during the last three financial years."The public sector banks have written off Rs
1,14,181 crore of debt during financial years 2013, 2014 and 2015." Jaitley stated that in
case of technical write-off, the recovery efforts continue as accounts remain the books of
branches.
Union Budget 2016-17 is well aligned with PM’s‘Make in India ’ and ‘Startup India
‘ campaign - We believe the Union Budget 2016-17 is well aligned with Prime
Minister’s ‘Make in India ’ and ‘Startup India ’ campaign. The budget focuses clearly on
growth, development, job creation and creating a better environment for doing business in
India. Besides a particular focus on startups by giving them exemption on their profits for
the first three years is a welcome move. The relaxation in capital gain tax for investment
in Funds of Funds and reducing the time frame to two years from three for availing long
term capital gain tax benefit in the unlisted space will further boost the investment in
startups. Also keeping the ‘Digital India ‘ momentum rolling during the budget,
introduction of electronic auction platform for the private placement market in corporate
bonds is a welcome move.
India Budget credit positive but uncertainties remain: Fitch - India's latest budget for
the 2017 fiscal year contains a number of elements that could be positive from a
sovereign rating perspective over the medium term, says Fitch Ratings. However,
uncertainties regarding implementation of the reform agenda and meeting targeted
revenue growth remain. Most notably, the budget for the fiscal year ending 31 March
2017. underscores the government's continued commitment to gradually broaden the
ambitious reform agenda. Further reforms, such as those pertaining to the financial sector,
agriculture and liberalisation of the FDI regime were announced in the latest budget,
indicating that the government retains its vision of how to structurally improve the
economy and create sustainable growth. Fitch maintains that improving the relatively
weak business environment through structural reforms that would support investment and
real GDP growth is a key factor that would be credit positive.

Sustained growth: India Feb Manufacturing PMI at 51.1 - The February
Manufacturing PMI At 51.1 , unchanged from January reading, the seasonally adjusted
Nikkei India Manufacturing Purchasing Managers Index–a composite single-figure
indicator of manufacturing performance–pointed to a second consecutive monthly
improvement in business conditions across the sector. Reflecting sustained growth of new
work, Indian manufacturers raised their production volumes in February. That said, the
rate of expansion eased since January and was marginal overall. Incoming new work
increased for the second straight month and at the quickest rate since last September.
According to survey members, underlying demand continued to improve. New business
from abroad also rose, although February saw a loss of growth momentum.
Manufacturing business conditions in India continued to improve.
Fiscal deficit of 3.5% is very credible step for the financial markets - The Union
Budget 2016, presented today by the Union Finance Minister Mr. Arun Jaitley is a
pragmatic and balanced act in the backdrop of global uncertainty. Maintaining a fiscal
deficit of 3.5% is a very credible step for the financial markets, robust outlays for
infrastructure, agriculture, rural and socio-economic schemes are also welcome moves,
however, one can argue that more could have been provided for recapitalization of banks
which are currently facing issues of mounting NPAs. Mr Jaitley once again relaxed the
FDI policy in several sectors, including insurance and pension and asset reconstruction
companies, to attract more overseas investments. The budget shows a lot of focus on rural
areas and Infrastructure - arguably two important growth drivers for the economy.
Fund allocation of Rs. 2.31 lakh crore to enhance infrastructure base - The Union
Budget 2016-17 is a step forward for the welfare of the people and growth in the country.
For the infrastructure development the government has announced fund allocation of at
Rs. 2.31 lakh crore that would aim to enhance the infrastructure base of the country.
Guideline for renegotiation of PPP contracts is a long standing demand from international
investors and will make the investment environment much more risk neutral. It is a big
step towards overseas funding comfort for PPP in infrastructure. 228% higher grants to
gram Panchayats & urban local bodies in accordance with FFC recommendations will
augment development process significantly in terms of providing basic facilities like
clean healthy water, sanitation, and other basic amenities leading to smart towns of future
. This budget restores balance in Rural Bharat and India Inc. The approach of the Finance
Minister is one of quantum jump rather than tinkering, which would accelerate the


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