TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - Indian Equity Benchmark Index Nifty closed at 8822 after making high of 8896 in last

week; the Index has given breakout of its 4 month high of 8806. Next monthly level for the Nifty Index is at

8969. The Nifty closed in positive territory by gaining 0.32%. Market took major trigger from International

market as US President Donald Trump announced that he is soon reveal new tax reform. Market open on flat

note on Monday trading Session tracking strong global cues and cash market. Some profit booking have seen

due to F&O Expiry but every dip would be an opportunity for traders to go long in the market. Now, market is

headed towards new 52 week highs. Traders should go long at every dip in the market until it holds 8770

levels, Technically, Indian Stock Market is still in positive zone. F&O Expiry volatility is not ruled out and we

may see some sharp profit booking but traders can go long at every dip in the market. Once Nifty closes

below 8862 levels then traders can close all long positions and initiate short positions in the market but until

then every downfall would be an opportunity for traders to go long in the market. The Market sentiment may

be boosted by a dovish FOMC minutes but hawkish Reserve Bank of India MPC Minutes & Cautious IMF

stance on India’ Growth may also cap any significant Upside. The Significance levels for Nifty is 8980-9060

is up side and 8850-8760 is Down side.

BANK NIFTY : -The Bank Nifty has opened on a Negative note on Monday trading session down by 57

points or 0.27 per cent at 20494. Bank Nifty has made a life time high of 21042 on the news that Reserve

Bank of India has withdrawn the limit for purchase of shares of HDFC Bank. It is the major constituent of

Bank Nifty with a weightage of 31.66% in the index. However the index closed at 20551,around 490 points

down from its high. Bank Nifty remained strong on Tuesday trading Session. It opened at 20495, around 50

points down from its previous day’s close, made a low of 20472 and give strong closing of 20677.

Technically, Bank Nifty has to sustain over 20750 area for further rally towards 21050-21200. On the flip

side, sustaining below 20800 zone, Bank Nifty may fall towards 20650-20500 area in the near term.

Monday, 27 Febuary 2017

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY

DAILY R2 R1 PP S1 S2

9114 9004 8949 8894 8784

WEEKLY R2 R1 PP S1 S2

9423 9081 8910 8739 8397

MONTHLY R2 R1 PP S1 S2

10151 9263 8819 8375 7487

BANK NIFTY

DAILY R2 R1 PP S1 S2

21454 21088 20905 20722 20356

WEEKLY R2 R1 PP S1 S2

22395 21323 20787 20251 19179

MONTHLY R2 R1 PP S1 S2

25113 22009 20457 18905 15801

MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS

NIFTY 8748 8572 8476 8368

BANK NIFTY 20182 19583 19208 18711

PARABOLIC SAR DAILY WEEKLY MONTHLY

NIFTY 8747 8220 8084

BANK NIFTY 20497 18379 16970

PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of Nifty has Applied the Bollinger Band

As well as Parabolic SAR and the price action of the rise from lows has so far been within

the middle and upper Band. Entire technical indicators are trading into the heavy

overbought phase by steady boom found in short to medium terms given that, Index can

show strong profitable selling in next time so that, traders and investors should book profit

who have made boom pro trade from the below price, 8860-8780 would be Significance

Support for the Nifty and 9000-9120 Key Resistance for Nifty.

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 has been crossed upper Bollinger band of

20870 at last week at the end of February month expiry where the improvement can be found

growing ahead if Bank Nifty does remain on the level strongly. Entire medium to long term

technical indicators have been entered into the overbought phase so that; allay your short term

boom trade after breaking support and book profit from the rise. The Support for Bank Nifty

is 20760-20445 and 21080-21450 is key Resistance for Bank Nifty

NSE EQUITY DAILY LEVELS

COMPANY NAME R2 R1 PP S1 S2ACC EQ 1465 1450 1439 1425 2384

ADANI PORTS EQ 306 302 298 294 290

AMBUJACEM EQ 235 234 232 231 229

ASIAN PAINT EQ 1041 1027 1016 1002 991

AXISBANK EQ 536 530 524 518 512

BAJAJ-AUTO EQ 2845 2828 2807 2790 2769

BANKBARODA EQ 170 169 168 167 166

BPCL EQ 731 725 716 710 701

BHEL EQ 156 155 153 152 150

BHARTIARTL EQ 415 390 377 352 339

BOSCH LTD EQ 22405 22203 21976 21774 21547

BHARTI INFRATEL EQ 306 302 298 294 292

CIPLA EQ 598 595 590 587 582

COALINDIA EQ 335 332 328 325 321

CAIRN INDIA LTD EQ 296 292 286 282 278

DRREDDY EQ 2944 2915 2895 2866 2846

GAIL EQ 539 530 522 513 505

GRASIM EQ 1067 1046 1032 1011 997

HCLTECH EQ 858 848 842 832 826

HDFC EQ 1417 1403 1391 1377 1365

HDFCBANK EQ 1434 1412 1400 1378 1366

HEROMOTOCO EQ 3221 3192 3170 3141 3119

HINDALCO EQ 185 183 181 179 177

HINDUNILVR EQ 879 869 863 853 847

ICICIBANK EQ 290 286 282 278 274

ITC EQ 272 269 265 262 258

INDUSIND BANK EQ 1359 1352 1340 1333 1321

INFY EQ 1033 1020 1006 993 979

IDEA CELLULAR EQ 122 120 118 114 112

KOTAKBANK EQ 827 818 805 796 783

LT EQ 1525 1505 1487 1467 1449

M&M EQ 1323 1309 1302 1288 1281

MRF EQ 52957 52229 50971 50243 48985

MARUTI SUZUKI EQ 6123 6076 6064 5999 5969

ONGC EQ 198 196 194 192 190

NTPC EQ 169 167 166 164 163

RCOM EQ 39 38 37 36 35

RELCAPITAL EQ 530 525 520 515 510

RELIANCE EQ 1239 1212 1196 1169 1153

RELINFRA EQ 573 565 560 552 547

RPOWER EQ 48 47 46 45 44

SBIN EQ 275 272 271 268 267

SSLT( VEDL) EQ 270 266 262 258 254

SUNPHARMA EQ 688 680 674 666 660

TATA MOTORSDVR EQ 289 286 282 279 275

TCS EQ 2540 2510 2462 2432 290

TATAMOTORS EQ 469 466 462 459 229

TATAPOWER EQ 86 85 84 83 991

TATASTEEL EQ 492 489 483 480 512

UNIONBANK EQ 150 147 145 142 2769

YES BANK LIMITED EQ 1461 1453 1447 1439 166

ZEEL EQ 527 522 518 513 701

TOP 15 ACHIEVERS // TOP 15 LOOSERS

SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE

1 BHARTI INFRATEL 307 297 - 3.20 %

2 AMBUJ CEMENTS 238 232 - 2.60 % -

23 NTPC 169 165 - 2.50 %

4 ACC LTD. 1465 1438 - 1.88 % -

15 POWER GR CORP 202 199 - 1.68 %

6 GRASIM INDS. 1040 1024 - 1.51 % -

17 HDFC 1402 1385 - 1.20 %

8 M&M 1317 1304 - 0.93 % -

09 ITC LTD. 268 265 - 0.93 %

10 BHARTI AIRTEL 369 366 - 0.88 % -

011 DR. REDDY'S LABS 2912 2887 - 0.87 %

12 HINDALCO 183 182 - 0.84 % -

013 TATA POWER 84 83 - 0.77 %

14 LUPIN LTD. 1458 1450 - 0.60 % -

0

15 ZEEL 521 518 - 0.51 %

SR.NO SCRIPT NAME PREVCLOSE

CMP % CHANGE

1 IDEA CELLULAR 105 119 + 12.94 %

2 RELIANCE 1075 1182 + 9.97 %

3 AXIS BANK LTD. 489 528 + 7.98 %

4 BHARAT PETRO 679 717 + 5.69 %

5 ASIAN PAINTS LTD. 960 1009 + 5.02 %

6 TATA STEEL 468 485 + 3.75 %

7 COAL INDIA LTD. 316 327 + 3.62 %

8 TCS 2407 2481 + 3.07 %

9 HERO MOTOCORP 3087 3176 + 2.90 %

10 WIPRO LTD 475 486 + 2.26 %

11 TATA MOTORS LTD 452 462 + 2.08 %

12 HUL 841 858 + 2.02 %

13 ULTRATECH CEM 3718 3786 + 1.82 %

14 KOTAK BANK 796 810 + 1.81 %

15 GAIL INDIA LTD. 510 517 + 1.44 %

NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )

NSE FUTURE

NSE FUTURE : SELL TITAN FUTURE BELOW 431 TGT 421 SL 436.

NSE FUTURE : BUY DHFL FUTURE ABOVE 336 TGT 341 SL 333.

NSE FUTURE : BUY AXIS BANK FUTURE ABOVE 532 TGT 542 SL 527.

NSE CASH

NSE CASH : BUY HOVS CASH ABOVE 190 TGT 205 SL 183.

NSE CASH : BUY IL&FS ENG CASH ABOVE 62 TGT68 SL 58.

NSE CASH : BUY NCLIND CASH ABOVE 163 TGT 178 SL 155.

NSE - WEEKLY NEWS LETTERS

✍ TOP NEWS OF THE WEEK

Indian economy to reach $5 trillion by 2025: Morgan Stanley - India's millennial

population is a massive disruptive force and driven by this supportive demographics alongwith

government's policy action, Indian economy is likely to reach USD 5 trillion by 2025, says a

report. India's USD 2.2 trillion economy makes it the seventh largest in the world in terms of

nominal GDP (and the third largest in PPP terms), but the country's per capita income is less

significant. With a per capita income of USD 1,700, India ranks well behind some of the key

emerging markets, like China, Russia, Brazil, Indonesia, the Philippines, Mexico, and Turkey.

We expect a confluence of supportive factors, led by demographics, government policy action,

and globalisation, to lead to a sustained period of productive growth in the medium term,"

Morgan Stanley said in a research note adding "in our base case, we expect the Indian economy

to reach USD 5 trillion by FY2025.

India emerges 12th largest holder of US Govt securities in 2016 - India became

the 12th largest holder of US government securities at the end of 2016, with exposure worth

USD 118.2 billion. With holdings worth USD 1.09 trillion, Japan remained the largest holder of

these securities followed by neighbouring China with exposure to the tune of USD 1.06 trillion.

Latest data available with the US Treasury Department showed that India's holding stood at USD

118.2 billion in December last, slightly lower than USD 118.7 billion seen in November. At the

end of December 2015, India's exposure was to the tune of USD 116.8 billion.

With $36 billion in nine months, FDI may deliver a record - Overseas investment

in India is likely to surge to a record in the year ending March despite temporary growth hiccups

ascribed to the currency swap programme. This underscores India’s status as an island of

economic stability, especially as foreign direct investment flows worldwide slumped 13% last

year amid uncertainty thanks in part to a backlash against globalisation. India’s FDI in the

April-December period rose 22% to $35.8 billion from the year earlier. With three months to go

for the fiscal year end, the government expects fresh inflows into equity to top the $ 40 billion

India got in FY16. Total FDI — which includes inflows into unincorporated bodies, reinvested

earnings and other capital — in the nine months to December is pegged at $ 48 billion against $

55.5 billion for the whole of the last fiscal year.

Q3 '17 GDP estimate likely to be less than 6%: SBI report - The growth estimate in the country’s

economic output or gross domestic product may be scaled down to less than 6% for the FY’17 as

the impact of demonetisation hurt consumption and output, says a report by State Bank of India’s

research team. But FY’18 growth could move up faster if demand comes back faster post

remonetisation. “We estimate that Q3’17 GDP growth will be at 5.8% and Q4 it will recover to

6.4%. For FY17, we believe GDP growth will recover to 6.4%.” said the SBI research report.

The SBI report attributes the downward revision of growth estimate to demonetisation which

will have short-term negative impact on growth numbers though in the long-run growth will

increase as formalisation of economy increases and remonetisation happens at a faster pace.

India banking bailout cost "manageable" - IMF - The cost of recapitalising India's struggling

banks would be affordable even under a negative scenario, the International Monetary Fund said

on Wednesday, urging government steps to strengthen the financial system. Weighing into a

renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation

costs should be manageable" at between 1.5 and 2.4 percent of forecast GDP. Of that total, the

government's share would be between 1.0 and 1.6 percent of gross domestic product over the

four years to March 2019, assuming that 40 percent of loans have to be provided against. India's

finance ministry earlier backed a call by the Reserve Bank of India to set up a "bad bank",

saying urgency was needed to address troubled loans weighing on the banking sector.

GST adoption could raise India's GDP to over 8%: IMF - The adoption of the GST

could help raise India's medium-term GDP growth to over eight per cent and create a single

national market for enhancing the efficiency of the movement of goods and services, the IMF

said today. At the same time, the International Monetary Fund also expressed concerns over the

implementation of the Goods and Service Tax. Although some uncertainties remain around the

design and pace of implementation of the GST, its adoption is poised to help raise India's

medium-term GDP growth to above 8 per cent as it will create a single national market and

enhance the efficiency of intra-Indian movement of goods and services," the IMF said in its

annual country report on India. The IMF said larger than expected gains from the GST and

further structural reforms could lead to significantly stronger growth, while a sustained period of

continued low global energy prices would also be beneficial to India.

Brexit could help India-EU FTA: Report - Britain's exit from the European Union is

likely to positively impact the economic bloc's long- drawn negotiations over a free trade

agreement with India, according to a leaked document drawn up by the members of the EU

parliament. The document drawn up by Members of the European Parliament in the EU's

influential trade committee points to British Prime Minister Theresa May's stringent visa policy

towards Indian professionals as a major stumbling block to the FTA, which has been in the

works since 1997.

India to be fastest growing economy among G-20 nations: Moody's - India will

be the fastest growing economy among G-20 countries clocking a 7.1 per cent growth in 2017,

Moody's Investors Service said today. The Indian economy had slowed in the fourth quarter of

2016 due to the withdrawal of 86 per cent of the currency in circulation -- without an immediate

replacement. "India is forecast to have the fastest growing economy among all G-20 countries

with growth put at 7.1 per cent for 2017, down from a previous expectation of 7.5 per cent

because of the effects of demonetisation," Moody's said.

✍ TOP ECONOMY NEWS

The Finance Ministry is giving final touches to infusing around Rs 8,000 crore in public sector

banks as part of its second and final tranche for the current fiscal, 2015-16. The second round of

capital infusion is almost ready and in the next few days it should go to Finance Minister Arun

Jaitley for approval, sources said. The entire process should be over within a fortnight and then

the respective bank would start receiving funds, sources added.

The cost of recapitalising India's struggling banks would be affordable even under a negative

scenario, the International Monetary Fund said on Wednesday, urging government steps to

strengthen the financial system.

Faster remonetisation and return of discretionary consumer demand will push economic activity

in the latter part the fiscal, opined RBI Governor Urjit Patel while voting for no cut in interest

rate earlier this month.

The domestic direct selling industry is estimated to grow around three folds to cross Rs 25,000

crore mark by 2024-15 on burgeoning income, demographic dividend and favourable policy

environment. The growth momentum would also be supported by factors as growing

urbanisation and widening acceptance of the industry, the annual report released by the Indian

Direct Selling Association in association with PHD Chamber of Commerce and Industry said.

The Reserve Bank of India's six-member monetary policy committee cited concerns about

inflation in holding rates in February, with three of them specifying the need to shift the policy

stance to "neutral" from "accommodative," according to minutes from the meeting.

Wealthy investors continued to repose faith in portfolio managers or advisory services as the

assets under management of such entities rose to about Rs 12 lakh crore in the Indian capital

market at January-end.

It also marks the 13th consecutive monthly rise in asset base of portfolio managers.

The economy based on the gross value added is set to slip to 6.2 per cent in the December

quarter from 6.9 per cent a year ago, and GDP growth will decline to 6.5 per cent from 7.2 per

cent, said domestic rating agency Icra today.

The government hopes to overshoot the Rs. 45,500 crore disinvestment target for the current

fiscal amid strengthening of equity markets.

Sources said the Finance Ministry cleared disinvestment in two more PSUs last week. "The

response to recent disinvestment offers has been very good. It seems the disinvestment target for

the current fiscal may be exceeded," one of the officials said.

Wholesale inflation shot up to a 30-month high of 5.25 per cent in January as rising global crude

oil prices spiked domestic fuel cost, even as food prices moderated. The wholesale price index

based inflation, reflecting the annual rate of price rise, in December stood at 3.39 per cent. In

January 2016, the print was (-)1.07 per cent. The last comparable high level of WPI was

witnessed in July 2014 at 5.41 per cent.

The government has made no provision for its ambitious India Aspiration Fund, part of StartUp

India initiative, for the next financial year and has reduced the allocation to Rs 100 crore from

Rs 600 crore made earlier for the current fiscal.

The overall trade deficit has risen to $17.8 billion in Oct-Dec 2016 from $ 9.4 billion a quarter ago,

according to provisional data released by RBI and Ministry of Commerce and Industry. In

October-December 2015, the overall trade deficit was $ 16 billion. The trade deficit increased

sharply on a Q-o-Q basis as gold imports spiked and crude oil prices firmed up. In

October-December 2016 gold imports more than doubled to $ 9.8 billion from $ 4.0 billion.

✍ TOP CORPORATE NEWS -

Bharti Airtel Limited India's largest telecommunications services provider, on Thursday said

it has signed a definitive agreement with Telenor South Asia Investments Pte Ltd to acquire

Telenor India Communications Private Ltd.

Havells India is in advance negotiations with Lloyd Electric and Engineering Limited to

acquire its consumer durables business for around Rs. 1200 -1500 crore, to get a toehold in the

fast growing Indian air conditioners market that is dominated by global brands, said multiple

sources involved.

Asian Paints Limited today said its subsidiary Berger International will fully acquire Sri

Lanka's Causeway Paints in an all cash deal. "Berger International Pvt Ltd, Singapore, indirect

subsidiary of the company, has entered into a share purchase agreement with the existing

shareholders of Causeway Paints Lanka Ltd, Sri Lanka, for acquisition of 100 per cent stake in

CPLPL in an all cash deal," Asian Paints Ltd said in a BSE filing.

State-run power producer NTPC Limited today said It has commissioned 115 MW capacity out

of 260 MW of Bhadla Solar Power Project. "With this, the installed capacity of NTPC's solar

power projects touches 475 MW. The total installed capacity of NTPC on standalone basis has

become 41,177 MW and that of NTPC group has become 48,143 MW," NTPC said.

The Competition Commission today said it has approved the GE Pacific buying 49 per cent

stake in Alstom Bharat Forge Limited Power and four other deals. The acquisition of

certain retail businesses of Heritage Foods Limited by Kishore Biyani group firm Future Retail

Limited has also received the green signal from the regulator.

The stake sale in state-owned aerospace and defence company Bharat Electronics Limited

saw strong demand from institutional buyers which placed bids worth over Rs. 3,100 crore on

the first day of the offer today. The share sale attracted bids for over 2.09 crore shares as against

89.34 lakh shares offered to institutional investors, garnering subscription of 2.34 times,

according to the stock exchange data.

Ratings agency S&P expects IT services major Tata Consultancy Services to remain net

cash positive even if its Rs. 16,000 crore-buyback offer gets fully subscribed. The ratings and

outlook on Tata Consultancy Services are not affected by the company's Rs. 16,000 crore offer

for share repurchases, Standard & Poor's said in a statement.

IT major Cyient Limited on Wednesday announced that it has inked a Memorandum of

Understanding with US-based engineering simulation services provider ANSYS Inc to set up a

simulation lab at Cyient's experience enter in the city.

Ambuja Cement reported a 85.24 per cent increase in its consolidated net profit of Rs 205.70

crore for the fourth quarter ended December 30, 2016. Part of the Swiss cement giant

LafargeHolcim, the company has clocked a net profit of Rs 111.04 crore in the year-ago period,

Ambuja said in a BSE filing.

FMCG firm Nestle India, is looking to diversify into new segments like premium coffee

business, pet care, skin health and cereals while it looks at 2017 as a "year of aggression". It is

also planning consolidating its offerings and adding new categories so as continue with double

digit growth.

Infrastructure company Punj Lloyd today said it has won Rs 348 crore projects, including Rs

139 crores order from Adani and Rs 209 crore pipeline contract from Mumbai Port Trust. "The

company has received letter of award from from Adani for EPCC (design, engineering,

construction and commissioning) of refrigerated double wall storage tanks and mounded bullets

for its LPG Terminal at Mundra," Punj Lloyd said in a press release.

State-owned Indian Oil Corporation has threatened to reconsider plans to invest Rs.

52,000 crore on expansion of Paradip refinery in Odisha and setting up a petrochem project as

the state government is withdrawing tax sops. Indian Oil Corporation plans to expand the 15

million tonne a year Paradip refinery by 5 MT as well as set up a Polypropylene Plant and a

monoethylene glycol production facility at the site of the one-year old refinery.

Petronet LNG Limited, India's biggest liquefied natural gas importer, has more than

doubled its net profit to Rs. 397 crore in the third quarter ended December 31 as it handled

record volumes of imported gas. Net profit in October-December at Rs. 397 crore was 133 per

cent higher than Rs. 171 crore in the same period a year ago, Petronet Managing Director

Prabhat Singh told reporters here.

Maruti Suzuki Limited is racing ahead of the pack in making its vehicles compliant to new

crash regulations.

Wipro Limited 's consumer care and lighting business will expand its range of products to

detergents, energy drinks and fabric conditioners, intensifying competition in sectors dominated

by global giants Hindustan Unilever and Procter & Gamble.

PepsiCo's bottler Varun Beverages Limited today said it has hiked stake in its Zambia

subsidiary, Varun Beverages Limited, to 90 per cent.

✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK

The idea of setting up a state-owned asset reconstruction company or a bank to deal with

mounting bad loans is gaining traction and it needs to be created quickly, Chief Economic

Adviser Arvind Subramanian said on Wednesday. “Essentially, there seems like a growing

convergence towards the idea (of state-backed asset reconstruction company). The broad idea

that we should do like this is gaining traction,” he said.

Sufficient cash in both rural areas and cities, along with some bold and pragmatic decisions on

issues like bank' Non-Performing Assets will be key drivers for reverting to eight per cent

growth of the Indian economy, a leading industry lobby said here on Wednesday.

IDFC Bank is creating a renewable energy niche in loans, sanctioning Rs. 675 crore to a

Rajasthan-based solar power project owned by French company Solairedirect.

The Reserve Bank of India is proposing its toughest measures yet to recover loans from

defaulters by prescribing December deadline for the loan restructuring of top 50 defaulters in a

way that the assets turn viable and also in an environment where vigilance departments do not

stifle the right economic outcome.

The Finance Ministry has not received any communication with regard to reported merger of

Kotak Mahindra Bank and Axis Bank Limited, a senior official said. Mergers of private banks do

not come to Finance Ministry, rather it is for the regulator to see, said another official. "We are

not aware of any such plans. We have not received any expression of interest for Axis Bank by

any company," the official said, when asked about reports on merger of Kotak Mahindra Bank

with Axis Bank.

India’s state-owned general insurance giants Oriental Insurance, National Insurance, and United

India Insurance, who together have 34 per cent of the total market share and underwriting total

direct premium of over Rs. 33,000 crore, are likely to be merged to create a stronger entity to

fetch better valuations at the time of listing.

The Government is all set to bail out IDBI Bank with a Rs. 3,000-crore capital infusion to help it

maintain a healthy capital-adequacy ratio and pursue credit growth. The government has already

said it is still open to bring down its stake in the bank to below 50 per cent.

Top private sector lenders including ICICI Bank and Axis Bank Limited may see more bad

loans chocking their earnings growth in coming quarters, said Moody’s Investors Service in a

note. While we have been expecting asset quality to deteriorate for both, we had expected the

deterioration to come predominantly from their watchlist accounts

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