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Equity Research Report 10 April 2017 Ways2Capital .pdf



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TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian Equity Benchmark Index Nifty 50 opened at 9159 on Friday Trading
session. Nifty made a high of 9192 and closed at 9174, which was also its last day close. The Nifty
has started in a strong note on Monday trading session Nifty was up 47 points or 0.51 per cent at
9220. The markets were propped up this week and let us look at what the new financial year brings to
the table. This has been a very good year for the markets. The Global markets are benign at the
moment and no major triggers are expected at the moment. Domestically the new triggers will be the
earnings season which will kick off in middle of April. The next 2 weeks the markets have no major
trigger and one can expect side ways movement. After much back and forth between the Finance
Minister Arun Jaitley and his state counterparts, and stalling as states demanded compensation for lost
revenue, the government finally delivered on GST, with the roll out now set for July 1. This is a
landmark reform, one that has been in the making for a decade, which will economically unify the
country and significantly improve tax collection. RBI announced its First Bi-monthly Monetary
Policy Statement for 2017-18 where Monetary Policy Committee kept key interest rate unchanged at
6.25%. However the committee hiked Reverse Repo rate by 25 basis points to 6% from 5.75% and cut
the marginal standing facility rate is by 25 basis points to 6.5% from 6.75%. Time & Price action
suggests that the Nifty may mild correction next week which can take market to 9100 or 9000. The
Significance levels for Nifty 9266-9340 is Up side and 9190-9120 is Down side.
BANK NIFTY : - This week Bank Nifty opened at 21519 and made a high of 21588. The Index had
opened at 21512 and made a high of 21574 on Friday trading session & closed at 21444. SBI was up
by 0.81% and Kotak bank was up by 0.81% from its previous day close. Recent Financial stability
report by Reserve Bank of India states risks to banks remained elevated due to continuing
deterioration in asset quality, falling profitability and liquidity issues. Non-Performing Assets of
public sector banks soared to a staggering Rs. 6.8 lakh crore. Out of the Rs 6.8 lakh crore of
Non-Performing Assets of public sector banks, 70 per cent are those of big corporate houses. The
government and the RBI have begun taking steps in the right direction to address this issue. The Bank
Nifty gave a lackluster movement on its 1st weekly April Expiry and traded in a range of 175 points
from 21674 to 21489. Bank Nifty closed 21623 after making a high of 21674. The Significance levels
of Bank Nifty for Upcoming week is 21640-21820 is Up side and 21460-21380 is Down side. .

Monday, 10 April 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

9338

9266

9230

9194

9122

R2

R1

PP

S1

S2

9472

9312

9232

9152

8992

R2

R1

PP

S1

S2

9472

9312

9232

9152

8992

R2

R1

PP

S1

S2

21829

21647

21556

21465

21283

R2

R1

PP

S1

S2

22409

21835

21548

21261

20687

R2

R1

PP

S1

S2

22412

21838

21551

21264

20690

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

9101

8914

8726

8533

BANK NIFTY

21166

20600

19986

19264

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

9033

8834

8371

BANK NIFTY

21276

19897

18051

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of Nifty has Applied Bollinger Band and
Parabolic SAR both are the leading indicators. Prices are trading in positive territory, counter has
broken resistance of 9120 level, prices closed above 9120 on weekly basis, we may see bull run
in nifty from current level, we are expecting rally will continue till 10000 and 10500 level,
downside 7900 will act as major support zone, if prices break downside 7900 and closed below
7900 level it will be warning signal for bull.
.

PATTERN FORMATION ( BANK NIFTY )

Detail of Chart -On the Above given daily Chart of Bank Nifty has Applied the Bollinger Band
as well as Parabolic SAR. The Bank Nifty Chart Nifty makes bullish Gartley pattern on Weekly
chart which shows range bound move will continue with profitable selling below near resistance
21880 and 22000 from the high. The above target can be found up to 22200 by crossing 22360
and giving close on it. According to Down channel; fresh selling pro move breakdown can be
seen below 20890 and 20820 in Bank Nifty and the level will work as the crucial support in next
month.

NSE EQUITY DAILY LEVELS
COMPANY NAME

R2

R1

PP

S1

S2

ACC
ADANI PORTS

EQ
EQ

1496
356

1483
351

1467
348

1463
343

1456
340

AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BPCL
BHEL
BHARTIARTL
BOSCH LTD
BHARTI INFRATEL
CIPLA
COALINDIA
CAIRN INDIA LTD
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
IDEA CELLULAR
KOTAKBANK
LT
M&M
MRF
MARUTI SUZUKI
ONGC
NTPC
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATA MOTORSDVR
TCS
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK
YES BANK LIMITED
ZEEL

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
EQ
EQ
EQ
EQ
EQ

248
1097
518
2873
176
702
182
354
23020
357
597
289
305
2732
395
1083
862
1510
1454
3252
199
937
286
276
1436
1007
90
902
1738
1293
62293
6379
189
171
42
634
1446
600
51
297
274
693
289
2460
485
89
512
157
1586
555

246
1091
512
2850
172
687
178
349
22880
352
594
286
302
2700
391
1069
855
1497
1446
3233
196
932
282
275
1424
994
89
887
1710
1289
61627
6323
188
169
40
621
1425
581
50
292
272
680
286
2446
477
88
502
154
1571
550

243
1083
507
2823
171
665
177
345
22761
342
589
283
300
2681
387
1061
852
1482
1437
3215
194
926
278
272
1413
986
88
879
1690
1284
61114
6279
186
168
40
611
1414
571
49
292
269
671
284
2419
471
87
496
153
1560
547

241
1077
501
2800
167
650
173
340
22621
337
586
280
297
2649
383
1047
845
1469
1429
3196
191
921
274
271
1401
973
87
864
1662
1280
60448
6223
185
166
38
598
1393
552
49
285
267
658
281
2405
463
86
486
150
1545
542

238
1069
496
2773
166
628
172
336
22502
327
581
277
295
2630
379
1039
842
1454
1420
3178
189
915
270
268
1390
965
86
856
1642
1275
59935
6179
183
165
38
588
1382
542
48
283
264
649
279
2378
457
85
480
149
1534
539

TOP 15 ACHIEVERS
SR.NO

SCRIPT NAME

/

PREV
CLOSE

CMP

% CHANGE

SR.NO

TOP 15 LOOSERS
SCRIPT NAME

PREV CLOSE

CMP

% CHANGE

1

L&T

1574

1685

+ 7.02 %

1

INDIABULL HOU

997

955

- 4.20 %

2

BHARTI INFRATEL

325

347

+ 6.66 %

2

INFOSYS

1022

981

- 3.98 %

3

RELIANCE

1320

1406

+ 6.49 %

3

TECH MAHINDRA

459

443

-3.47 %

4

MARUTI SUZUKI

6015

6259

+ 4.05 %

4

SUN PHARMA

688

665

- 3.23 %

5

BHARAT PETRO

649

675

+ 3.92 %

5

TATA POWER

90

87

- 3.15 %

6

AXIS BANK LIMITED

490

504

+ 2.73 %

6

COALIND LTD

292

283

- 2.99 %

7

INDIAN OIL CORP

387

397

+ 2.66 %

7

HCL TECH

874

849

- 2.91 %

8

GAIL INDIA LIMITED

376

386

+ 2.57 %

8

ITC LIMITED

280

272

- 2.73 %

9

AMBUJA CEMENT

236

242

+ 2.45 %

9

AURO PHARMA

675

658

- 2.54 %

10

ULTRATECH CEM

3984

4081

+ 2.42 %

10

BANK OF BARODA

172

168

- 2.49 %

11

ZEEL

535

547

+ 2.25 %

11

LUPIN LIMITED

1445

1410

- 2.43 %

12

ADANI PORTS

339

347

+ 2.22 %

12

BHARTI AIRTEL

350

344

- 1.53 %

13

TATA STEEL

482

493

+ 2.18 %

13

SBIN

293

289

- 1.35 %

14

ACC LIMITED

1446

1468

+ 1.52 %

14

HDFC

1502

1484

- 1.16 %

15

HUL

911

924

+ 1.40 %

15

INDUSIND BANK

1425

1412

- 0.91 %

3
3
2
2
2
1
1

OPEN INTEREST INDEX F&O AND CASH SEGMENT ACTIVITY

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
GDP to grow at 7.7 per cent in 2018, says FM Arun Jaitley - Finance Minister Arun Jaitley
said global growth was picking up but emerging economies faced new challenges in terms of
inward-looking policies and rising protectionism, and tightening of financial conditions in global
markets. Speaking at the annual meeting of the New Development Bank , a bank promoted by
BRICS, Jaitley said Indian economy is pegged to grow 7.2% in 2017 and 7.7% in 2018. “But
there are newer challenges, notably a possible shift towards inward-looking policy platforms and
protectionism, a sharper than expected tightening in global financial conditions that could interact
with balance sheet weaknesses in parts of the euro area and increased geopolitical tensions,
including unpredictable economic policy of US,” he said.
He pointed to huge investment opportunity in India’s infrastructure space and the rest of emerging
economies while urging NDB to step up funding as existing multilateral lenders are unable to
meet the demand. He pegged India’s “unmet infrastructure funding needs” at $ 646 billion over
the next five years. Jaitley added that India has sought $ 2 billion in loans from NDB.
Reserve Bank of India set to get more power to deal with stressed assets - The government
plans legislation that will empower the Reserve Bank of India to deal much more effectively with
stressed assets than before as part of a broader plan to resolve banks' bad loans, a long-festering
issue that's been holding back the economy from achieving its full potential. The Centre may even
issue an ordinance to enable RBI to direct banks on dealing with stressed assets as moving the
Banking Regulation Act amendment through Parliament could take time, The reworked law will
also empower RBI to set up oversight panels that will shield bankers from later action by probe
agencies looking into loan recasts. Bad loans rose by over Rs. 1 lakh crore in the first nine months
of last fiscal to Rs. 6.07 lakh crore by December 31, 2016, minister of state for finance Santosh
Gangwar had said in a written reply to the Rajya Sabha. Public Sector Banks' Gross bad loans
stood at Rs. 5.02 lakh crore at the end of March 2016, up from Rs. 2.67 lakh crore at the end of
March 2015.
Government exceeds FY17 tax collection target at Rs 17.10 lakh crore - The government has
exceeded the tax collection estimates for 2016-17 fiscal at Rs. 17.10 lakh crore. The revised
estimates provided in Budget on February 1 had projected tax collections of Rs. 16.97 lakh crore.
The Finance Ministry in a statement said that tax collection of Rs 17.10 lakh crore is a growth of
around 18 per cent compared to last year. Revenue Secretary Hasmukh Adhia said, "Total net tax


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