TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : - The Market has opened in a Negative bias on Monday with the Equity
benchmark Nifty 50 was down 22 points or 0.25 percent at 8519. The Nifty 50 reversed a
trend in Monday trade and surged nearly 100 points to hit a fresh 52 week high of 8641.
The US Federal Reserve Policy maker took a step toward interest rate hikes this year but
stopped short of signaling that the move could come as soon as September. The Fed Left
the benchmark Policy rate unchanged. The Goods and Services Tax bill move one step
closer to reality, as the Union cabinet approved most of the amendments to the bill
suggested by the Opposition Party. These will be the Positive trigger for the market ahead.
The Nifty50 has been moving between 8475-8600 levels from the last nine trading
sessions and the range breakout has now opened the scope for a potential upward move
toward 8700-8800 level in near Term. The Crucial levels for Nifty for Next week is 87038751 up side and 8560-8470 is down side.

BANK NIFTY : - The Bank Nifty has Opened in a Negative bias on Monday down by 96
points or 0.50 per cent at 18594. The Reserve Bank of India Governor Raghuram Rajan
has said, The Government should ignore the high decibel noise against Prudent Monetary
Policies by vested interests in the interest of sustained Economic Growth. The
Government has asked the state run lenders to leverage the Rs. 22,915 crore. Capital it
provided them last week to raise more funds saying the banks should come up soon with
detailed plans on raising capital through public offering bonds and sale of Non-core
Assets. The Moodys investors Investors Services has said the Govt. Rs. 22,915 crore
equity infusion will provide some respite to the Public Sector Banks but their capital need
are significantly higher than the budgeted amount. The Bank Nifty Technically seems Bull
side around 19570-19850 for next week. The Crucial levels for Bank Nifty is 18750-18900
down side and 19150-19300 is up side.

Monday, 01 August 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY
DAILY

WEEKLY

R2

R1

PP

S1

S2

8725

8669

8641

8613

8557

R2

R1

PP

S1

S2

8749

8610

8471

8193

R1

PP

S1

S2

8907

8532

8157

7407

R1

PP

S1

S2

19189

19062

18935

18681

R1

PP

S1

S2

18919

18367

17263

PP

S1

S2

18706

17458

14962

9027
MONTHLY

R2
9657

BANK NIFTY
DAILY

R2
19443

WEEKLY

R2
20575

MONTHLY

19471

R2

R1

22450

19954

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

BANK NIFTY

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

78189

8024

7991

BANK NIFTY

17680

17185

17062

PATTERN FORMATION ( NIFTY )

Detail of Chart On the Above given daily Chart of Nifty has Applied the Bollinger Band Along with
Parabolic SAR, both the indicators give the early indication of Bullish or Bearish trend of
the market. The uses of Bollinger Band varies from traders to traders Some buy when it
break the middle Band on upper Side and some buy after the break out of Upper band
from down respectively. On the Above given Chart of Nifty earlier it has touched the
Upper Band but was not able to break the level of strong resistance of 8600. Now it
seems that trend has reverse into the bear in the Daily Chart has Formed the Bearish
Engulfing candle which is also the signal of market reversal. If the Nifty is able to Sustain
the 8480 level we could see some positive trend for upcoming week, break below 8480
could touch the level of 8400 in upcoming week. The Crucial levels for Nifty is 84808350 down side and 8580-8640 is Upside.

PATTERN FORMATION ( BANK NIFTY )

Details of ChartOn the Above given Chart of Bank Nifty has Applied the Bollinger Band along with the
Parabolic , both the indicators give the early indication of Bullish or Bearish trend of the
market. Thus uses of Bollinger Band varies from traders to traders Some buy when it
break the middle Band on upper Side and some buy after the break out of Upper band
from down. On the above given Chart we could see that the price is near the middle Band
if it is able to sustain the middle Band level it could lead the Bank Nifty in bull side in
upcoming week. Break below middle Band which is around 18650 could lead the Bank
Nifty toward the level of 18400 in Near-Term the crucial level for Bank Nifty is 1865018470 down side and 18950-19200 is Upside.

NSE EQUITY DAILY LEVELS

COMPANY
NAME

R2

R1

PP

S1

S2

ACC

EQ

1720

1685

1676

1666

1656

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

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

81
275
1201
558
2729
157
115
153
389
529
337
163
3035
390
4958
764
1407
1258
3271
136
920
276
259
1203
1090
92
765
1627
1468
34563
4921
227
121
54
449
1039
582
56
237
173
840
519
73
363
134

79
272
1163
549
2704
156
113
150
378
525
333
162
3003
387
4927
759
1399
1253
3235
135
915
273
257
1185
1083
88
756
1603
1460
34307
4844
224
129
53
443
1032
578
55
234
172
832
513
72
357
132

78
266
1116
543
2685
154
112
149
371
522
330
160
2987
385
4888
752
1387
1244
3194
133
905
272
252
1175
1079
86
751
1582
1455
34166
4707
222
118
52
438
1022
570
54
231
168
821
506
71
352
129

77
260
1078
534
2660
153
110
146
360
518
326
159
2955
382
4857
747
1379
1239
3158
132
900
269
250
1157
1072
82
742
1558
1447
33910
4630
219
116
51
432
1015
566
53
228
167
813
500
70
346
127

76
254
1031
528
2641
151
109
145
353
515
323
157
2939
380
4818
740
1367
1230
3117
130
890
268
245
1147
1068
80
737
1537
1442
33769
4493
217
115
50
427
1005
558
52
225
163
802
493
69
341
124

TOP 15 ACHIEVERS

SR.NO

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

SCRIPT NAME

EICHER MOTOR

PREV
CLOSE

19972.05

MARUTI SUZIKI

4550.55

ZEEL

474.75

POWER GRID COR

TCS

168.95
2558.95

ASIAN PAINT

1070.65

YES BANK

1182.75

ADANI PORT

226.15

INDUSIND BANK

1156.35

AXIS BANK

538.10

SUNPHARAM

504

BAJAJ AUTO

2700.85

GRASIM

4861

ULTRATECH

3670

HUL

906.95

CMP

22703.8
4877.45
503.5
178.35
2700.55
1124.15
1226.45
234.360
1195.50
555.50
529.90
2771.75
4975
3746.95
921.35

//

% CHANGE

+13.68
+7.18
+6.09
+5.56
+5.53
+5.00
+3.69
+3.60
+3.39
+3.23
+3.22
+2.63
+2.35
+2.10
+1.59

SR.NO

TOP 15 LOOSERS

SCRIPT NAME

PREV CLOSE

CMP

DR REDDY

3482.35

2972.10

TECHM

508.40

484.10

ICICIBANK

268.65

259.90

LT

1585.90

1524.60

IDEA

107.40

104.60

GAIL

391.65

382.45

BANK BARODA

155.85

152.45

COAL INDIA

333.75

326.90

ONGC

226.80

222.40

10

HEROMOTCO

3280.05

3283.45

11

BHEL

147.30

145.65

12

KOTAK BANK

764.40

756.30

13

RELIANCE

1022.75

1014.70

14

TATA STEEL

363.65

362.40

15

INFY

1080.85

1079.10

NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS)

Cash Pack
NSE CASH

BUY SUNPHARMA NSE CASH ABOVE 842 TGT 884 SL 821.

NSE CASH

BUY APOLLOTYRE NSE CASH ABOVE 165 TGT 176 SL 160.

NSE CASH

BUY DISHTV NSE CASH ABOVE 99 TGT 109 SL 95.

Future Pack
NSE FUTURE :

BUY APOLLOTYRE FUTURE ABOVE 163 TGT 169 SL 160.

NSE FUTURE :

BUY DABUR FUTURE ABOVE 309.30 TGT 315.90 SL 306.

NSE FUTURE :

BUY AMBUJACEM FUTURE ABOVE 272 TGT 278 SL 269.

% CHANGE

-14.65
-4.78
-4.37
-3.87
-2.61
-2.35
-2.18
-2.05
-1.94
-1.27
-1.12
-1.06
-0.79
-0.34
-0.16

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK
First quarter credit quality was the poorest in two years, says CARE Ratings Sectors like construction, iron & steel, chemicals continued to face financial stress with
dip in margins and profitability leading to higher number of credit rating downgrades in
the June quarter, CARE Ratings said Monday. This made the overall credit quality of
Indian companies the poorest in last two years. There has been a moderation in the
number of upgrades in the first quarter of the fiscal - 12% of surveillance cases were
upgraded compared with 16% in year ago period and 18% in first quarter 2014-15. The
rating company said that 14% of the surveillance cases were downgraded compared with
10% in Q1 2015-16. CARE's modified credit ratio, the ratio of upgrades and
reaffirmations to downgrades and reaffirmations, fell to 0.98% in the first quarter from
1.07% in the year ago period. The MCR was 0.90% three years back.
Government not in favor of any fresh exemptions for new Japanese industrial
enclaves - With the government keen to weed out exemptions and lower the corporate
tax rate to an internationally comparable 25%, it is not willing to give any fresh ones. As
a result, the proposed Japanese enclaves for industries have hit a tax wall with the
revenue department making it clear that it cannot offer sops against its overall philosophy
of ending them. This issue figured in an inter-ministerial meeting called by Niti Aayog,
said a government official aware of the matter. "The revenue department is not in favour
of taking up any fresh exemptions," the official said. The final decision will be taken at
the highest level.
Growth in external private debt makes emerging economies vulnerable: Moody's The growth in debt levels over the decade-mainly driven by private debts makes
emerging market economies vulnerable to external shocks, global credit rating agency
Moody's Investors Service has said in a report. According to the report titled 'The
Evolution of Emerging Markets External Debt: Private Sector Debt Drives Broad-Based
Build-Up of Emerging Markets External Vulnerability Risks', the debt growth was
highest in the Asia-Pacific region. The largest increase were reported in external
borrowings in China, India, Indonesia, Taiwan and Malaysia, Moody's said. Driven by
growth in private debt in China, India and Indonesia, debt levels in the Asia-Pacific
region have grown at an average rate of 13.5 per cent, the report said.

Government not in favour of any fresh exemptions for new Japanese industrial
enclaves - With the government keen to weed out exemptions and lower the corporate tax
rate to an internationally comparable 25%, it is not willing to give any fresh ones. As a
result, the proposed Japanese enclaves for industries have hit a tax wall with the revenue
department making it clear that it cannot offer sops against its overall philosophy of
ending them. This issue figured in an inter-ministerial meeting called by Niti Aayog, said
a government official aware of the matter. "The revenue department is not in favour of
taking up any fresh exemptions," the official said. The final decision will be taken at the
highest level. The industrial townships are envisaged as integrated industrial parks with
ready made operational platforms having world-class infrastructure, plug-and-play
factories and investment incentives for Japanese firms. This is part of the Japanese
government's initiative to double investments in India to about $35 billion in the next five
years and strengthen bilateral economic ties. The government has already unveiled its
plan to remove corporate tax exemptions and bring down the rate to 25%.
TOP ECONOMY NEWS
The government is set to start consultations for an ambitious plan to merge 13 state oil
firms to create a giant corporation whose revenue dwarfs global energy major Chevron.
Grappling with mobile call drop menace, telecom operators committed to install 0.1
million towers within a year, entailing investments of about Rs. 200 billion, and sought
more spectrum from the government.
To tackle the problem of call drops, telecom operators have installed 48,000 mobile
towers across the country in the last 45 days.
Coal block auctions and allotments have generated Rs.22.37 billion revenue till May this
year.
Central Board of Direct Taxes came out with draft rules for determining the quantum of
distributed income arising out of buy back of shares of unlisted companies for levy of tax.
The strong uptick in the southwest monsoon since the start of July has boosted the
sowing of kharif crops and given fresh life to reservoirs and major water bodies, which
were on the brink.
The special investigation team on black money has asked the enforcement directorate to

take action against 788 companies for not bringing export proceeds of more than Rs. 1
billion each.
Cellular Operators Association of India has pitched for a "mandatory" and "nondiscriminatory" grant of permission to all operators for deployment of in-building
telecom infrastructure in public buildings including airports and government offices.
The National Stock Exchange will auction investment limits for overseas investors for the
purchase of government debt securities worth Rs.72.64 billion.
TOP CORPORATE NEWS NHPC Limited has approved raising up to Rs. 45 billion through issue of corporate
bonds on private placement basis.
Syngene International Limited has lined up USD 200 million around Rs. 13.42 billion
capex to bolster its manufacturing capabilities over the next three years.
Skipper Limited, has set up a manufacturing unit in near Bollaram.
Oil and Natural Gas Corp will have to shell out Rs. 3.92 billion and Oil India over Rs.
11 billion after the Government ordered them to pay royalty at gross crude oil price and
not the net rate they actually realise.
Hindustan Unilever Limited has completed the sale of its rice exports business to LT
Foods.
Biocon Limited is planning to launch insulin glargine in Malaysia in the second half of
the current financial year as it has received regulatory nod from the country's health
regulator.
Khaitan Electricals Limited has approached the Board for Industrial and Financial
Reconstruction to declare it as a sick industry as its accumulated losses had exceeded the
net worth.
JSW Steel Limited is looking to raise up to USD 750 million about Rs. 50.32 billion
from international markets.

Diamond Power Infra Limited has approved a proposal for strategic debt restructuring
initiated by the banks.
The board of Cairn India and Vedanta Limited sweetened the merger deal by revising
terms of the merger of both companies. The shareholders of Cairn India will now get one
share in Vedanta and minority shareholders to get an additional four Redeemable
Preference Shares in Vedanta Ltd with a face value of Rs. 10 for every share held by
them.
Reliance Industries and its partner BP of UK have invested over Rs. 45 billion in the
flagging eastern offshore KG-D6 block to maintain gas output at current level despite the
steep natural decline that has set in the seven-year old fields.
Aurobindo Pharma Limited is planning to raise funds via a share sale to fund the
acquisition of Teva's European assets -- if its bid is accepted by this month.
IL&FS Engineering and Construction Services Company has received a letter of
acceptance from Nagpur Metro Rail Corporation for Rs. 5.33 billion.
Shilpa Medicare Limited has received without 483 for its SEZ formulations facility
situated at Jadcherla near Hyderabad from the United States Food & Drug Administration
Adani Transmission Limited has plans to raise Rs. 5 billion through offshore rupeedenominated Masala bonds.
Claris Lifesciences Limited has received the Abbreviated New Drug Application
approval from the USFDA for a local anaesthesia drug, Bupivacaine Hydroxhcloride.
Hindustan Construction Company has won a Rs. 17.50 billion contract from IRCON
International to construct two tunnels and a bridge in Jammu and Kashmir.
Amtek Auto has caught the fancy of foreign portfolio investors. The FPIs have almost
doubled their stake in the company to 9.17% in the quarter ended June 30, against 4.77%
as on March 31.
VISA Steel Limited has resumed operations at its Steel Melt Shop, Ladle Refining
Furnace, Vacuum Degassing & Rolling Mill facilities at its Kalinganagar plant in Odisha.

Jindal Steel & Power , the Central Vigilance Commission has endorsed the view of
Central Bureau of Investigation that there are no irregularities in the allocation of
Ramchandi coal block in Odisha.
Educomp Solutions Limited said it will divest its entire shareholding in its subsidiary
Vidya Mandir Classes Limited following invocation of corporate guarantee by ICICI
Bank to the company.
3i Infotech Limited said that ICICI Bank intends to discontinue some of the service
contracts with the company and its group firms, effective from July 31, 2016.
Lupin Limited announced today that its US subsidiary, Lupin Pharmaceuticals Inc. has
received tentative approval from the United States Food and Drug Administration to
market a generic equivalent of ViiV Healthcares Lexiva Tablets, 700 mg Fosamprenavir
Calcium Tablets, 700 mg. This product was filed from Lupins Goa formulations
manufacturing facility.
Volkswagen is in talks with Tata Motors to partner for a small car development
programme.
ITC Limited is soon going to expand its Sunfeast Yippee! brand of instant noodles into
the atta-based variant and will create a complete portfolio of such products including a
multigrain one to build a heath quotient for a category which recently was shrouded in
controversy regarding product safety.
Lupin Limited is in talks with Japan's Astellas and Shionogi to buy the off-patent
medicine brands they have separately put on the block.
Jaiprakash Power Ventures have agreed to acquire significant equity stake in the
company by converting part of their debt into equity. Senior bank officials said that
lenders decided to invoke strategic debt restructuring, a move that would enable them to
recast the loan by bring in new promoter in the company that is struggling to repay its
dues.
Bajaj Corp, will step up focus in the personal care category with new launches this year.
Glenmark Pharmaceuticals has received final approval from the US health regulator for
Potassium Chloride Extended Release Tablets, used for treating low levels of potassium

in blood.
Canara Bank has got shareholders' approval to raise capital by up toRs20 billion.
Reliance Communications launched a new data plan MoviNet, bundling movies with it
in a bid to attract data users.
Maruti Suzuki India Limited said it will start selling its light commercial vehicle,
Super Carry, by the end of next month.
Idea Cellular expanded its 4G LTE services to 9 districts of North East service area that
includes Agartala, Aizawl, Imphal, Kohima, Mokokchung, Senapati and Tura areas.
Tata Steel said the Quebec government will invest CAD 175 million about USD 133
million in its joint venture firm's direct shipping iron ore project.
P C Jeweller will raise up to Rs. 2.57 billion through issue of preferential shares to USbased investment firm Fidelity for business expansion.

TOP BANKING AND FINANCIAL NEWS OF THE WEEK

Canara Bank said it has got shareholders' approval to raise capital by up to Rs 2,000
crore. "The bank has concluded its 14th Annual General Meeting and transacted. raising
of capital up to Rs 2,000 crore by further issue of equity/preference shares or other
securities either by way of follow-on public issue, rights issue, private placement,
Qualified Institutional placement , or any other mode," Canara Bank said in a BSE filing.
The government has asked state-run lenders to leverage the Rs 22,915-crore capital it
provided them last week to raise more funds, saying the banks should come up soon with
detailed plans on raising capital through public offerings, bonds and sale of non-core
assets. The instructions were passed on when chief financial officers of public sector
banks met senior finance ministry officials in DELHI last week to discuss the capital
allocation. The recent fund infusion is meant for 13 13 state-run banks. Officials said 75
per cent of the allocation will be disbursed immediately while the balance will be linked
to banks' performance.

Indian Overseas Bank and Central Bank of India will benefit from the government's
recent capital infusion as they have got a higher share as a proportion of their share
capital, Moody's said today. "The capital infusion will improve their capitalisation at a
time when asset quality pressure and elevated provisioning costs have negatively affected
their financial performance," it said in its credit outlook titled, 'Indian Overseas Bank and
Central Bank of India benefit from Government capital infusion.
The Reserve Bank of India has come down hard on 13 banks and fined them for Rs. 27
crore for violation of FEMA and lapses in know your client rules. The matter relates to
irregularities in import remittances by several banks which came to light in October 2015.
"On the basis of inputs received from a public sector bank, the Reserve Bank undertook a
scrutiny on advance import remittances in 21 banks in October/November 2015," the RBI
said in a release.
State Bank of India and Macquarie Group, is in early talks with Moser Baer Energy to
acquire operational alternate power assets portfolio of the New Delhi-based company. be
launched soon for mobile devices, where Federal Bank will enable a direct payment
option for its customers.

LEGAL DISCLAIMER
This Document has been prepared by Ways2Capital (A Division of High Brow Market
Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained
herein are based on Ways2Capital Equity/Commodities Research assessment and have
been obtained from sources believed to be reliable. This document is meant for the use of
the intended recipient only.
This document, at best, represents Ways2Capital Equity/Commodities Research opinion
and is meant for general information only. Ways2Capital Equity/Commodities Research,
its directors, officers or employees shall not in any way to be responsible for the contents
stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and
all liabilities that may arise from information, errors or omissions in this connection. This
document is not to be considered as an offer to sell or a solicitation to buy any securities
or commodities.
All information, levels & recommendations provided above are given on the basis of
technical & fundamental research done by the panel of expert of Ways2Capital but we do
not accept any liability for errors of opinion. People surfing through the website have
right to opt the product services of their own choices.
Any investment in commodity market bears risk, company will not be liable for any loss
done on these recommendations. These levels do not necessarily indicate future price
moment. Company holds the right to alter the information without any further notice. Any
browsing through website means acceptance of disclaimer.
DISCLOSURE
High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does
not do business with companies covered in research report nor is associated in any

manner with any issuer of products/ securities, this ensures that there is no actual
or potential conflicts of interest. To ensure compliance with the regulatory body,
we have resolved that the company and all its representatives will not make any
trades in the market.
Clients are advised to consider information provided in the report as opinion only
& make investment decision of their own. Clients are also advised to read &
understand terms & conditions of services published on website. No litigations
have been filed against the company since the incorporation of the company.
Disclosure Appendix:
The reports are prepared by analysts who are employed by High Brow Market
Research Investment Advisor Pvt. Ltd. All the views expressed in this report
herein accurately reflects personal views about the subject company or companies
& their securities and no part of compensation was, is or will be directly or
indirectly related to the specific recommendations or views contained in this
research report.
Disclosure in terms of Conflict of Interest:
(a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no
financial interest in the subject company and the nature of such financial interest;
(b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no
actual/beneficial ownership of one percent or more in the securities of the subject
company,
(c) High Brow Market Research Pvt. Ltd. or its associate has no other material
conflict of interest at the time of publication of the research report or at the time of
public appearance;
Disclosure in terms of Compensation:
High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its
analysts, professionals reporting to analysts from owning securities of any
company in the analyst's area of coverage.
Analyst compensation: Analysts are salary based permanent employees of High
Brow Market Research Pvt. Ltd.

Disclosure in terms of Public Appearance:

(a) High Brow Market Research Pvt. Ltd. or its associates have not received any
compensation from the subject company in the past twelve months;

(b) The subject company is not now or never a client during twelve months
preceding the date of distribution of the research report.
(c) High Brow Market Research Pvt. Ltd. or its associates has never served as an
officer, director or employee of the subject company;
(d) High Brow Market Research Pvt. Ltd. has never been engaged in market
making activity for the subject company.