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Market News · 2020. 2. 29. · MARKET-HUB down side target 41,700 possibility. GOLD COPPER: - Sell...
Transcript of Market News · 2020. 2. 29. · MARKET-HUB down side target 41,700 possibility. GOLD COPPER: - Sell...
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MARKET-HUB
It was a bloodbath on Dalal Street as the
Nifty tanked from the word go and
extended the selling pressure in late trade
to close lower for the sixth consecutive
session on February 28.
The Indian rupee has recovered from its
day's low but trading lower by 51 paise at
72.07 per dollar, amid selling seen in the
domestic equity market due to worries
over Coronavirus fears. It touched an
intraday low of 72.27 per dollar.
The decline was followed by a correction
across global mats as the coronavirus
continued to spread to the US and
Europe, which raised concerns over
global economic growth. The virus that
originated in China in late 2019 has now
spread to more than 50 countries.
lnduslnd Bank share price declined over
2 percent intraday on February 28 despite
the Reserve Bank of India approving the
appointment of Sumant Kathpalia as the
managing director and chief executive
officer at the private lender.
The long-awaited initial public offering
of SBI Cards and Payment Services, a
subsidiary of the country's largest lender
State Bank of India, is set to open for
subscription.It will open on March 2 for
four days, and will close on March 5.
Lemon Tree Hotels share price gained
6.7 percent intraday on February 28 amid
stock market carnage after the hospitality
company opened its second international
hotel in the Bhutanese capital Thimphu.
Aviation stocks plunged on February 28,
in sync with the broader market
sentiment, as concerns over rising cases
of coronavirus wiped out the risk appetite
of investors. Shares of InterGlobe
Aviation (IndiGo) and SpiceJet fell up to
5 percent.
HDFC Life Insurance Company,
Bandhan Bank and Info Edge will be
included in the Futures & Options
segment effective February 28, and
anecdotal evidence suggests that after
such inclusion most stocks rise in double
digits. The list of stocks under the F&O
segment will go up to 143 from 140 from
February 28, when the March series
begins.
The share price of RITES fell 5.7 percent
intraday on February 27, the day the
state-owned engineering services
company’s offer for sale opened for
subscription.
Biocon share price declined 2 percent in
the early trade on February 27 after the
pharma company received observations
for its Bengaluru facility from the US
drug regulator.
India Cements share price rose over 6
percent in early trade on February 27
after billionaire Radhakishan Shivkishan
Damani and his brother Gopikishan
Damani increased their stake in the
company for the second consecutive day.
Shriram Transport Finance Company
(STFC) has risen up to Rs 500 crore by
issuing bonds on private placement basis.
"The Allotment Committee - NCDs of
the company in its meeting held today
approved and allotted rated, listed,
secured, redeemable, non-convertible
debentures (NCD) of face value of Rs 10
lakh each on private placement basis,"
the company said in a regulatory filin
NEWS LETTER
Beyond Research,
Beyond Advice
29th February 2020
Issue – 388
Market News
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MARKET-HUB
Results & Corporate Action
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MARKET-HUB
Nifty Spot in Last Week:-
As we saw the Price Movement in Nifty Spot in last week that In Upside is
12,012.55 and in Downside 11,175.05
Nifty Spot in Upcoming Week:-
There is strong support is 10,950 if not close below this level then we will see buy in
deep upside target 11,400 to 11,500 possibility.
Bank Nifty in Upcoming week:-
There is strong support is 28,900 if not close below this level then we will see buy in
deep upside target 29,700 to 29,900 possibility if close below 28900 level then we
will see down side target 28,350 possibility.
Market Technical
Page: - 2
BANKNIFTY WEEKLY CHART
NIFTY WEEKLY CHART
Recommendation for next week
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MARKET-HUB
COPPER: - Sell on rise with stop loss 440
down side target will be 413 possibilities,
down side 413 level strong support.
CRUDEOIL: - There is strong resistance is
3500 if not close above this level then we will see
sell on rise down side target 2975 possibility.
.
.
SILVER: - Buy in deep with stop loss
43,000 upside target will be 45,500
possibilities, if close below 43,000 levels then
down side target 41,700 possibility.
GOLD: - Sell on rise with stop loss
43,000 down side target will be 41000 to
40,300 possibilities.
Commodity Market
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MARKET-HUB
Currency
FUT
LEVEL
DEMAND
ZONE LEVEL
CLOSE SUPPLY ZONE
LEVEL
D2 D1 S1 S2
USDINR 71.85 72.10 72.40 72.50 72.89
GBPINR 92.50 93.00 93.35 93.98 94.50
EURINR 78.78 79.19 79.94 80.40 81.25
JPYINR 65.67 66.09 66.67 67.00 67.50
USDINR: - Investors can buy on deep with
stop loss of 71.50 upside target will be
72.50 to 73.50 possibilities.
GBPINR: - Investors can sell on rise
with stop loss 94.00 down side target
will be 93.00 possibilities.
EURINR: - Investors can sell on rise
with stop loss 81.35 down side target
will be 80.20 to 79.20 possibilities.
.
JPYINR: Investors Sell on rise
with stop loss of 67.60 down side
target will be 66.16 possibilities.
Currency Market (Future Levels)
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MARKET-HUB
Premium / Discount
(USD/ INR) Based on
Forward Rates
Duration Premium
One
month
Forward
0.26
Three
month
Forward
0.46
Six
month
1.26
One year 2.67
RBI reference Rates
Currency Rates
USD 71.61
GBP 92.63
Euro 78.17
100 Yen 65.06
Currency Corner
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MARKET-HUB
How to plan your tax-saving investments for the year? Part1
(Based on an article on ET Money website: https://etmoneyblog.com/beyond-section-
80c-10-ways-to-save-taxes/
The best time to start planning your tax-saving investments is at the
beginning of the financial year. Most taxpayers procrastinate till the last
quarter of the year, resulting in hurried decisions. Instead, if you plan at
the start of the year, your investments can compound and help you
achieve long-term goals. Remember, tax-saving should be an additional
perk and not a goal in itself.
Use the following pointers to plan your tax-saving for the year:
Check the tax-saving expenses you already have – like insurance
premiums, children’s tuition fees, EPF contribution, home loan
repayment etc.
Deduct this amount from Rs 1.5 lakh to figure out how much to
invest. You needn’t invest the entire amount, if expenses are
covering the limit.
Choose tax-saving investments based on your goals and risk profile.
ELSS funds, PPF, NPS and fixed deposits are some of the popular
options.
This way, you can figure out how to exhaust the 80C limit. It is best to
begin investing in the first quarter of the financial year so that you can
spread the investments over the year. Doing this won’t burden you at the
end of the year and will also allow you to make informed investment
decisions
1. Tax saving with NPS under Section 80CCD (1B): Taxpayers can save
additional tax by investing up to ₹ 50,000 in NPS. This is over and
above the benefit, they can claim on contributions under Section
80c. They also have the option of utilizing NPS for the ₹ 1.5 lakh
limit of Section 80c. This combination will take total deduction one
can claim with NPS to ₹ 2 lakh.
2. Tax savings on Health insurance premiums under Section 80D: To
encourage self-financed health insurance, there is a tax incentive.
Section 80D allows for tax deductions from the total taxable income
towards the payment of health insurance premiums as well as
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MARKET-HUB
expenses incurred towards healthcare. Do check the policy
document to ascertain if premiums paid for it qualify for tax
deduction under Section 80D.
3. Tax savings on repayment of an Education loan under Section 80E:
Borrowing to realize higher education dreams is common these
days. Students who have availed an education loan to pursue their
education are provided a tax benefit on the repayment of the
interest component of the loan under Section 80E. This tax benefit
can be claimed by either the parent or the child (student),
depending on who repays the education loan to start claiming this
deduction.
This tax deduction is also available only on taking an education loan from
institutions and not from family members or friends and relatives.
Taxpayers can claim the deduction from the year they start repaying the
interest on the education loan and in the seven immediately succeeding
financial years or until the interest is paid in full, whichever is earlier.
There is no limit to the deduction claimed on the interest repayment.