May month m agazine upload min

MONEY CLASSIC
MAGAZINE
stock market forexcommodity www.moneyclassicresearch.com
Investment
JOURNAL
KCOTSMODM ITO YC
FOREX

MCR
THINK OUT OF THE BOX
MCRL IT Solutions Pvt.Ltd.
Pla num Plaza 25, PU-4, Commercial,
Scheme No.54, Near Hotel Silver Shade INDORE (M.P.)
“A One Stop
SolutionF O R YO U R I T R E L AT E D
w w w. m c r l o g i t e c h . c o m
info@mcrlogitech.com
Web
Desktop
SOLUTIONS Mobile
D E V E L O P M E N T
SEO/SMO
SOLUTIONS
w w w. m c r l o g i t e c h . c o m
MONEY CLASSIC

The Stock Tips and other information given in the magazine
are purely a view-point of the team and there is no guarantee of the
returns. Hence all the readers are advised to apply their discretion
and consult their financial advisors before acting on any
recommendations given in the magazine. Money Classic will not be
responsible for any losses incurred (if any) by following our
recommendations.
All data and reports in the Money Classic magazine are only
information service for the readers and not the individualized
recommendations.
Feedback on Last Issue
We are glad to stress that the
accuracy achieved in the calls
given in last edition is near 90%.
Nine out of the ten calls
(predictions) were beneficial
and hit the target.
Keep it up MCR and congratulations for
consistent performance.
LEGALD I S C L A I M E R

FROM THE DIRECTOR'S DESK
ur magazine Money Classic
Oprovides the latest news and
trends on all the events of
na onal and interna onal importance and
affairs related to stock market. Money Classic
is a one stop source for the latest stock market
news and informa on on technical analysis.
We provide valuable recommenda ons from
whichthetradersandinvestorscanbenefit.
By having proper updates with the help
of Money Classic, one can gain good
knowledge in stock markets, commodity
markets and the forex markets. Money Classic
has established a brand image in the market
and we are looking to be a leader in the
na onal and interna onal markets as an
establishedfinancialperiodical.
MONEY CLASSIC
MR. DEEPAK MISHRA
In stock market trading the na onal
and interna onal news plays a very
important role on the price movements of
thestocks.Totradeinthestockmarketand
to gain a good profit from the stock
market, one should have a proper eye on
the current news and stories. The events
taking place in the country as well as in the
outer world, effects the price movements
inthestockmarket.

CONTANT
01
02
03
04
05
06
07
08
Monsoon prediction
2017 and its impact PAGE 01PAGE 01
PAGE 03
PAGE 07
PAGE 09
PAGE 11
PAGE 15
PAGE 17
PAGE 19
3 years of Modi government:
Start-up India Report Card
French election 2017:
Why is it important?
Dow Theory: The three t
rend market
UDAN: The new regional
connectivity scheme
(RCS) campaign
The universal trend
spotting indicator:
'Rainbow'
IPOs: The hottest public
issues of India
India First: new action
plans to increase GDP

09
10
11
12
13
14
15
PAGE 01PAGE 21
PAGE 33
PAGE 35
PAGE 37
PAGE 39
PAGE 41
PAGE 43
Cash and Future
recommendations
Foreign Exchange reserve
of India on a new high
Parabolic SAR: A best
combination with
Stochastics oscillator
Indian IT companies: under
pressure of Donald Trump's
policies
Fibonacci Calculation
FDI in Defence and
Aerospace
IIP: an index of
production and
manufacturing in India

Monsoon
prediction
2017 and its impact
onsoon plays crucial role in the economy of
Mthe country like India, where agriculture is
the greatest source of economy. Monsoon
season plays an essen al role in India as 70% of
employment is directly and indirectly depend on
agricultural sector. This is one of the major reasons for
dependence on monsoon season for economic growth of
India. The monsoon delivers about 70 percent of India's
annual rainfall, cri cal for crops such as rice, cane, corn,
co on and soybeans because nearly half of the country's
farmland lacks irriga on.A huge part of the GDP is
contributed by the agro based industry. The Indian
economy is highly sensi ve to agronomics and so a slight
change in the pa ern of the monsoon affects the food
prices.
India is likely to have higher monsoon rainfall this year as
the weather condi on has eased. It is raising prospects of
higher farm and economic growth. The state-run India
Meteorological Department forecasts this year's monsoon
rains at 96 percent of the 50-year average of 89 cm. The
condi ons are now becoming favourable for the further
advance of southwest monsoon. The southwest monsoon
is likely to set over Kerala on 30th of May with a model error
offourdays.
Impactofgoodmonsoon
inIndia
Impact on growth- it is expected that at the end of the ongoing year, the
growth in agricultural sector will increase. The export sector is also expected
to grow and this all will add points to the overall GDP growth of India. Normal
rainfall this year will add to the cyclical recovery, while easing infla onary
concerns. Spa al and temporal spread will also be key to minimise any
nega ve impact. With risks of an El Nino forma on seen beyond August, its
impact on India's monsoon will be lower as July-August are the crucial months
for farm output. Encouragingly, in recent years the agricultural sector has also
become more resilient to the weather due to changes in its composi on.
These es mates ease one of the pre-condi ons set by the RBI for its policy
stance, though we don't expect this to be a sufficient trigger to bring rate cuts
backtothetable.
Impactonagriculture-Agoodrainfalltendstoincreasetheproduc vityofrice,
sugarcane, millet, oil seeds and co on. This encourages the government to
easetheedgesontheexportofwheatandrice.Sugarproduc onwillrecoverin
2017-18duetogoodrainfall.Wemaynotneedtoimportsugar.Sugarcanearea
has risen as last year rainfall was abundant. This year's rainfall will help in
boos ngyields.
STOCK MARKET 01

Be er irriga on- A good rainfall increases the groundwater
level and replenishes the reservoirs. This helps in good
irriga onsystemandbe erhydroelectricitypoweroutput.
Reduc on in infla on- The good monsoon in the country also
increases the produc on of vegetables and fruits. This
reduces the price and thus calms down the infla on. We
con nue to expect benign infla on. The monsoon forecast
augurs well for India's macro and will give the government
legroomtosupportgrowth.
Impact on power sector- Since the water level will be higher
this year than last year, in several hydroelectric dams, there
will be sufficient electricity. During the intense heat of May
and June, rains act as a cooling factor and there will be not as
suchagreateruseofelectricitybecauseofhighrainfall.
Impact on rural demand- the modest contribu on of
agriculture to the overall GDP, the monsoon outlook would
havesomeimpactonconsump onsen ment,bothfor
consumer non-durables and big cket items such as
agriculture inputs, motorcycles, tractors etc. Nearly two-third
of gold demand comes from rural areas. Good monsoon
rainfall will increase farmers' income and consequently
demandfromthecountryside.
Impact on food infla on- good monsoon will decrease food
price. In that situa on brokers store grains in the expecta on
that they will sell when the price will rise. "It will also be
important to see the ming of El Nino vis-a-vis monsoon.
Good, well-distributed monsoon will keep food infla on risk
on the lower side and give RBI the elbow room to ignite
growthbykeepingliquidityaccommoda ve.
Impact on FMCG sector- a good monsoon has posi ve effects
on the FMCG sector. The demand rises and the input costs
decreasetoasignificantextend.
Forecasts of normal rains should provide tenta ve relief on the outlook for growth and infla on. It is important to note
that there is s ll a high degree of uncertainty around these projec ons and that spa al distribu on of rains will be
crucial. More clarity on these would be achieved only in June. It is con nue expec ng that MPC (monetary policy
commi ee) to remain on a long pause, with growth expected to recover, and with infla on bo oming out.
Predominantly an agrarian economy, favourable monsoon has bearing on the economy and market indices in India.
Announcement of a normal monsoon, apart from other macro-economic factors, buoyed investors' sen ments as the
markets touched a fresh high at 30,582.60 points at the me of closing.
STOCK MARKET 02

Modi
government:
START-UP INDIA REPORT CARD
3
years OF
ay 26, 2014 was the big
Mturning point for the
Indian poli cal history, as
Bhara ya Janata Party won a landslide
victory and became the ﬁrst poli cal
party in 30 years which acquired 282
seats in Lok Sabha elec on. Mr.
Narendra Modi was announced 14th
Prime Minister of India. From the day of
resultdeclara on,people'sexpecta on
is at its high and they were hoping for
the “Achhe Din”. Modi government
completed three on May 26 and
these three years Modi government
has faced many serious challenges.
As when the Modi government
came into power the Indian
economy was unstable. As per the
research there are subtle signs of
despera on whereas a majority of
people s ll have faith in the Modi
government.
Improved image with GST
The Parliament's last session seems to have changed people's percep on about the way
the ruling party has handled the Opposi on. The Goods and Services Tax bills where the
government was seen accommoda ng the concerns of the opposi on par es and the
state government in public percep on that has been received well.Around 65% of people
were impressed with the government, the way they handled Parliament eﬀec vely and
took opposi on along to deliver the key bills to bring about long-awaited economic
reforms.
STOCK MARKET 03

The infla on figures are favourable
enough to give the government an
opportunitytopatitsbackbutpeople
may not share the same sen ment.
The price of essen al commodi es
and cost of living has gone up in the
three years of the Modi government.
This is in spite of the fact that the
infla onhascomedowntobelow3%.
Majority of the people is not giving
the favour to the government for
keepingthepricesdown.
Prices down but cost of
living up
Women and Children
security-
Despite the fact that law and order is a
state subject, people seem to relate
incidents of crime with the Modi
government. The crime against women
and children has not come down.
However, in contrast to the debate over
growing intolerance in the country,
majority of people said that they did
not feel threatened in the country. They
arelookingsecurefuturesinIndia.
PM Narendra Modi's ambi ous project Swachh Bharat Abhiyan to promote sanita on and hygiene across the country has at
itshighwithsuccess.Ithasresultedinan11%increaseinschoola endanceinthepastoneyear.Thegovernment'scampaign-
Swachh Vidyalaya programme aimed to build 417,796 toilets out of which 98% has been completed. The government has
offeredRs15,000foranindividualtoilet,Rs20,000forAanganwaditoiletandRs54,000forschooltoiletcomplex.
Swachh Bharat Mission
The government admi ed in the Rajya Sabha that the overall unemployment is actually rising in the country especially among
the backward classes. While the overall unemployment rate is 5%, it is 5.2% for OBCs and for Scheduled Castes it was 3.1% in
2011whichhasnowrisento5%.Theunemploymentratewas4.9%in2013,4.7%in2012and3.8%in2011.
UNEMPLOYMENT-
STOCK MARKET 04

INFRASTRUCTURE DEVELOPMENT
The Modi government's push for
infrastructure has worked well in crea ng
a posi ve impression. Infrastructure
development in the fields of irriga on,
roads and telecom has become faster in
the last three years. Modi government has
also launched several signature projects
which would change the country's face.
The major infrastructure projects are
Sagarmala Project, Bharatmala Project,
Mumbai Trans Harbour Link, Shivaji
Memorial and Arunachal Pradesh on rail
map, Setu Bharatam project, Rashtriya
Rajmarg Zila Sanjoyokta Pariyojna, Inland
Waterways, Gujarat-Gorakhpur gas
pipeline, Chardham-Highway Project,
Highest Bridge of the world on river
Chenab.
DEMONETISATION
Prime M in ister Na ren d ra M o d i
announced that the high denomina on
notes of Rs 500 and Rs 1,000 would cease
to be legal tender from midnight
November 8, 2016. These old currency
notes were about 86% of the printed
currencyincircula onthatwereproposed
to be exchanged with the new notes of Rs
500andRs2,000byDecember30,2016.
The demone sa on was brought to tackle
mul ple objec ves. It was expected to
curb tax evasion problem, counterfeit
banknotes and terror financing,
corrup on and later it was also meant to
move towards a cashless or less-cash-
economy.AspertheIncomeTax
Amendment Act of November 28, 2016,
the government will tax unaccounted
income deposits at 50% and will only
prosecute those who, upon inves ga on,
are found to have engaged in illegal or
criminal ac vity. This move is hoped to
mo vate the transfer of wealth from the
blackeconomytothebanks.
Government's bold decision of
demone sa on was proved to be a right
one. However, demone sa on did not
succeed in reducing corrup on but it was
successful in figh ng and cracking down
black money and also helped in making
Indiacashlessaspartofthedigi sa on.
STOCK MARKET 05

Prices down but cost of
living up
SURGICAL STRIKES
On September 29, 2016, Indian Army confronted Pakistan military as the
Pakistani terrorists posi oned across the Line of Control (LoC). Surgical
strikes gain importance in India's case as Pakistan repeatedly shown its
inten on to use tac cal nuclear weapons on Indian Forces, even risking
the collateral damage to its own troops, to stop Indian military
opera ons. Therefore, the covert surgical strikes are a powerful weapon
for the Indian armed forces to carry out the necessary dirty work while
ensuring the status-quo between the opposing armies on the LoC.
because of this, India's image and influence in the world has improved
under the Narendra Modi government. Despite many policy observers
a acking the government for its handling of Pakistan, li le less than two-
thirds of all respondents believe that the Narendra Modi regime has
handled the neighbouring country suitably.Majority of people supported
the Modi government's Pakistan policy in the backdrop of last year's
surgical strikes. The Indian Army's surgical strikes seem to have boosted
theModigovernment'simageamongpeople.
War against black money
& corruption
Thewaronblackmoneycannotbeconcludedwithone
ac on alone and many more steps will be taken by the
Modi government in this regard. No one is there who
does not know that how PM Modi is ambi ous to
eradicate black money and corrup on. He has started
many drives like demone sa on, cashless economy,
mely upda ons on policies etc for figh ng against
black money and corrup on.However, the result is not
come appropriately. Even now, there are big loopholes
present in poli cal funding for black money hoarders.
Crooks can s ll make thousands of Rs 2,000 poli cal
dona on coupons and legi mise their black money
passing it to a poli cal ou it, perhaps created only for
this. This remains a big gap in the ba le against black
money. Also, the channels for large benami
transac ons in real estate and other assets remain
open.Goingahead,thesewillemergeaschallengesfor
theModi-government.
India's foreign policy
Modi's impressive outreach to the Indian Diaspora is also a key
to his approach to foreign affairs. He is the first Prime Minister
to view the diaspora as cri cal to India's economic growth story
and not surprising, therefore, that he reached out to the Indian
community in the foreign country. Modi managed to break the
deadlock with his out of the box approach when he signed a
government-to-government deal with France for the supply of
36 Rafale fighter jets. With Canada, Modi secured a landmark
nuclear energy deal, which will supply India with 3.2 million
kilos of uranium over a five-year period. What Modi's forays in
foreign policy have achieved so far is a sense in the outside
worldthatNewDelhifinallymeansbusiness.Modi'sunabashed
selling of India as an investment des na on is the most striking
aspectofModi'soutreachtotheWest.
STOCK MARKET 06

FRENCH ELECTION
2017Why is it important?
A er the Brexit vote in the UK and the
elec on of US President Donald Trump,
France is the latest country to deal a
blowtopoli csasusual.
What is new about this election?
The Socialists and the centre right have run France
since the 1950s, but the old model has been
sha ered.
Who were the
candidates?
The top five candidates
i n 2 0 1 7 ' s F r e n c h
e l e c o n w e r e , i n
alphabe cal order:
François Fillon (Les
Republicains), Benoît
Hamon (Socialists),
Marine Le Pen (Front
N a o n a l ) a n d
Emmanuel Macron
(Independent) and
Jean-Luc Mélenchon
(UnbowedFrance).
When was the
election?
Candidates were pi ed
against each other
twice – the first round
of the vote took place
on Sunday, April 23.
French elec ons always
take place on a Sunday.
France's voters have
rejected the two big
poli cal par es that
have governed for
d e c a d e s a n d a t a
crossroads on 23 April
no candidate won a
majority, a run-off was
held between the top
t w o c a n d i d a t e s ,
Emmanuel Macron of
En Marche! And Marine
Le Pen of the Na onal
Front (FN), which
M a c ro n wo n b y a
decisive margin on 7
May. French elec ons
always take place on a
Sunday.
STOCK MARKET 07

BanBS3modules
4 reasons
which make French
election so important-
1. France's political landscape fractures
Only a few months ago, the outcome of France's elec on was viewed as rela vely
certain. Abysmally unpopular President Francois Hollande declared in December that
he would not seek a second term, and it was widely expected that the winner of the
conserva veRepublicanParty'sprimarywouldhaveaclearpathtothepresidency.
Francois Fillon won the leadership race, but his campaign became quickly mired in
scandal a er allega ons surfaced earlier this year that he paid his family members
hundreds of thousands of taxpayer dollars for jobs they never worked. The corrup on
claims have dogged Fillon's run, and he was under formal inves ga on for misuse of
public funds.As Fillon's campaign had struggled, and with Hollande's Socialist party in
shambles, the field was open for the rise of centrist independent candidate Emmanuel
Macron. The front-runner, the former banker drew huge crowds to rallies as he
campaigned on a pla orm aimed at strengthening the European Union and reforming
the economy.Along with Macron, radical le ist Jean-Luc Melenchon and his party La
France Insoumise (loosely translated as “a France that won't bow down”) had seen a
rapid rise in polls. Melenchon, who compared himself to U.S. Sen. Bernie Sanders, had
vowed a 90 percent tax on people earning more than $425,000 and wanted to
implementa32-hourworkweek.Together,thesecandidatesmarkedafragmenta onin
French poli cs and a turn away from tradi onally powerful par es. As Fillon did not
manage to comeback, France has its first president ever to come from a non-
establishmentparty.
2. The biggest test for Europe's
far-right populists
Europe's far-right populist par es have
been rising in many countries amid the
refugeecrisis,aspateofterrora acksand
consistent an -EU sen ment. Although
many of these par es have existed for
decades, they have been emboldened by
Brexit and the elec on of U.S. President
Donald Trump.This year includes three
major elec ons in Europe: France, the
Netherlands and Germany. Far-right
populist par es played a significant role in
each of these contests, as they drag the
poli cal debate toward their extreme
an -immigra on, an -Islam views. The
Netherlands' leader Geert Wilders had a
disappoin ng finish in the Dutch elec ons
last month, while the Alterna ve for
Germany party has no hope of gaining
enoughofthevotetorule.
3. Relations with Russia
Three out of the four top contenders for the presidency all favoured a
friendlier approach to Russia, with Macron the only candidate who was an
outright cri c of Russian President Vladimir Pu n. Macron's campaign had
alleged that Kremlin-funded media outlets had been a emp ng to
interfere in the elec on by publishing defamatory ar cles against him as
wellasinaccuratepollsclaimingthatFillonwasinthelead.
Macron was forced to deny allega ons that he was secretly having a gay
affair, a er Russia's Sputnik news outlet published claims that he was
having extramarital rela ons and was backed by a “very wealthy gay
lobby.”
AnyofMacron'sopponentswouldbemorefavourabletowardtheKremlin.
Le Pen had urged an end to French sanc ons on Russia issued over the
country's annexa on of Crimea, and had travelled to Moscow to meet with
Pu n. Melenchon, too, was an -EU and had vowed to pull out of NATO ―
somethingthatwouldbeadelightforRussia.
Fillon, meanwhile, had called Russia sanc ons “pointless” and was also
accused of accep ng $50,000 from a Lebanese businessman to facilitate
a mee ng between the man and Pu n.
4. Fate of the European Union
Both Le Pen and Melenchon were campaigning for a withdrawal
from the European Union and a shi away from the interna onal
ins tu ons that make up the bedrock of modern Europe.
A French exit from the European Union could very well be the
beginning of the end for the trading bloc. France is a key player in
the EU as well as one of its largest economies, and its departure
would come on the heels of Brexit ― already a trauma c event for
the union.
Emmanuel Macron's elec on victory in
France may have put “some magic in the air”
in Berlin,as in the speech at the Élysée Palace
in Paris; he said he will do everything that is
necessary to fight terrorism. The centrist also
lists the global migra on crisis and climate
change among his challenges. Macron
believes the case for a stronger Europe has
gone by default, so how he makes that case
will reveal something about how far his
charmcantakehim.
STOCK MARKET 08

THETHREETRENDMARKET
DOW THEORY
Dow Theory is a 100 years old technical
tool which was formulated from a
series of Wall Street Journal editorials
authored by Charles H. Dow from 1900
to 1902. These editorials stated Dow's
beliefs on how the stock market
behaved and how the market could be
used to measure the health of the
business environment. Dow never
published his complete theory on the
markets due to his death but his
followers and associates had published
works that have expanded on the
editorials.
Upward trend in Dow Theory is a series of
successivelyhigherpeaksandhighertroughs.
A downward trend is a series of successively
lowerpeaksandlowertroughs.
An important part of Dow Theory is
dis nguishing the overall direc on of the
market. The theory uses trend analysis and
iden fies three trends within the market-
primary,secondaryandminor.
Primary Trend- A primary trend is the largest
trend las ng for more than a year. It is the
major trend of the market which makes it the
most important one to determine. The
primary trend will also impact the secondary
SIGNALS AND
IDENTIFICATION
OF TRENDS
One of the difficult aspects of
implemen ng Dow Theory is the
accurate iden fica on of trend
reversals. Peak and trough analysis is
one of the main techniques that are
used to iden fy trend reversals in Dow
Theory. A peak is defined as the highest
market price of a market movement.
The theory assumes that the market
does not move in a straight line but
from highs (peaks) to lows (troughs),
with the overall moves of the market
trendinginadirec on.
STOCK MARKET 09

and minor trends within the market. For
example, if in an uptrend the price
closes below the low of a previously
established trough, it could be a sign
thatthemarketisheadedlower,andnot
higher.When reviewing trends, one of
the most diﬃcult things to determine is
how long the price movement within a
primarytrendwilllastbeforeitreverses.
The most important aspect is to iden fy
the direc on of this trend and to trade
with it, and not against it, un l the
weight of evidence suggests that the
primarytrendhasreversed.
3. Minor Trend- the minor trend is generally the
correc ve moves within a secondary move may
be say the trend that goes against the direc on
of the secondary trend. It o en lasts less than
three weeks and it is associated with the
movements in the intermediate trend. Due to its
short-term nature and the longer-term focus of
Dow Theory, it is not of major concern but this
does not mean it is completely irrelevant. The
minor trend is watched with the large picture in
mind as these short-term price movements are a
part of both the primary and secondary trends.
Most of the users focus on the primary and
secondary trends, as minor trends include a
considerable amount of noise. If too much focus
is placed on minor trends, it can to lead to
irra onal trading as traders get distracted by
short-term vola lity and lose sight of the bigger
picture.
The important characteris c of a
secondary trend is that its moves are
o en more vola le than those of the
primarymove.
For example, an upward primary trend
will be composed of secondary
downwardtrends.Thisisthemovement
from a consecu vely higher high to a
consecu vely lower high. In a primary
downward trend the secondary trend
will be an upward move, or a rally. This is
the movement from a consecu vely
lowerlowtoaconsecu velyhigherlow.
STOCK MARKET 10

PM's new regional
connectivity scheme
rime minister narendra modi launches this regional air connec vity
Pscheme known as UDAN ( ude desh ka aam nagrik) on which is an an
ul mate league for raising the standards of the economy.This
campaign was commenced on 27th april 2017 from shimla airport at
Jubbarha , 22 km from here, and reach at the historic Ridge Maidan where
he addressaBJPrally. ThiswasModi'sfirstvisittoShimlaa erbecomingthe
Prime Minister. He had visited the town last in 2003 when he was the chief
minister of Gujarat. According to the reports, the Union Minister Jayant
Sinha on Friday said that central government's regional air connec vity
scheme -- UDAN -- which was launched on April 27 is slated to create
addi onal100airportsoverthenext2-3years.Themainaimofcommencing
this campaign is to facilitate each and every ci zen with standardized
services in affordable travelling expenses, and The scheme seeks to connect
unservedandunderservedairportsaswellasmakeflyingmoreaffordable.
But at the same me, The Minister for State for Civil Avia on was speaking at
the Confedera on of Indian Industry's (CII) annual session 2017 themed
'Future of Globaliza on: The fare per hour is Rs 2,500-a-hour flight launched
on Thursday is part of '(UDAN) scheme that makes air travel more affordable
to the common people. It also plans to enhance connec vity with more
airportsinthecountry.Thefirstregionalflightundertheschemewasflagged
off between Shimla and Delhi from Jubbarha , the tabletop airport located
2,196 metres above the sea level and 22 km from Himachal Pradesh capital
Shimla.
According to the minister, the UDAN scheme has market friendly features
such as removal of airport and naviga on charges, reduc on in ATF (air
turbine fuel) taxes and routes exclusivity for three years which would
incen vize air passenger carriers. The minister said that he is working with
aircra lessorstoreducetheriskpremium.
Inthisschememanyamendmentsalreadyhavebeenmadeandsomeareyet
tocomewhichwehavemen onedinthisar cle, gothrough
Indigo to induct 50 more
aircra , giving a major
boost to UDAN
ini a ve
As the 1st one it includes the IndiGo, the
country's largestairlinebymarketshare,has
announced plans to induct 50 smaller
aircra for regional routes, giving a major
boost to the government's 'UDAN' ini a ve
toboostregionalconnec vity.
In an interview it was noted that a
spokesperson from indigo said that It would
add about 50 turboprop aircra for regional
opera ons that would be run by a separate
division. Both travellers and operators have
responded well to UDAN, regional
connec vity scheme under which Alliance
Air,asubsidiaryofna onalcarrierAir
India, has connected Delhi and Shimla, and
Hyderabad based Trujet has connected
HyderabadtoCuddapaandNanded.
Trujet has already announced plans to add
more routes a er ini al success, while
Alliance Air's flights to Shimla from Delhi are
soldoutforthenexttwomonths.
IndiGo is expected to start turboprop
aircra opera on this year and is likely to
induct 20 planes by the end of the calendar
undertheUDANscheme.
STOCK MARKET 11

“In support of our Honourable
Prime Minister Narendra
Modi's UDAN vision, we are
embarking on a journey to build
a na onwide regional network
and connect ci es that have not
benefi ed from the growth in
Indianavia on,”
IndiGo president Aditya Ghosh said
in a statement. A pet project of
Modi, UDAN scheme seeks to
connect regional towns with a fare
cap of Rs. 2,500 per person per
hour.
The government provides a subsidy
to compensate for any opera onal
loss due to fare cap. Under the
scheme, Alliance Air is offering a
subsidised fare of Rs. 2,036 per
cket and is ge ng a government
subsidy of Rs. 3,500 per seat.
Alliance Air flies a 50-seater ATR
aircra on the route, but due to
payload limita ons, it “can offer
only 35 seats between Delhi and
Shimla, and between 12 and 19
seats in return,” a senior Air India
official said. “There is a lot of
demand for seats, which we are not
able to fulfil,” said the person who
requested not to be iden fied.
Another senior official said that
there is a technical solu on to
increase the number of seats
available and the airline are
working on it to make number of
seats available. Trujet flights, too,
have good demand, with about 80
percentofseatsoccupied.
The airline currently operates a
fleet of five 70-seater ATR aircra .
Out of these, 36 seats per flight are
soldundertheUDANscheme.
It sells these seats at Rs. 1,700 each, and seeks
government subsidy of Rs. 2,500 per seat.
Analysts feel it is too early to comment on the
success of UDAN scheme.
“Many of the routes that the Alliance and
TruJet have won appear to be high poten al,”
said Amber Dubey, India head of aerospace and
defense at global consultancy KPMG. He
pointed out that it's the summer holiday
season, when families generally travel and a lot
of people in Delhi and surroundings rush to hill
sta ons such as Shimla for a brief respite from
the scorching sun.
“A clear assessment of route profitability can be
done in January 2018 once the peak winter
season comes to an end,” Dubey said. “It would
be important to see the occupancy and yield on
non-RCS (regional connec vity scheme) seats
on these flights. That will be an indicator of
how sustainable the flights are once the VGF
(viability gap funding) is withdrawn a er three
years.”
STOCK MARKET 12

This scheme came up
with the another new
concept that is Special
treatment for women
entrepreneurs under
UDAN scheme Avia on
Secy
This concept is brought under this UDAN just to
indemnify the cause for the gender inequality as,
women must be ge ng all their rights what they
supposed to so Speaking at the event, the Civil
Avia on Minister said there is some way to go in
addressing gender inequality. It is a great
campaign which has been amended for the
Women entrepreneurs, according a top official as
he announced that they will get "single window
clearance" and other benefits to start an airline
under the regional air connec vity scheme.
Regional Connec vity Scheme is an opportunity
whereby women can set up a brand new airline,
assures that women will get special treatment.
We will give them single window clearance,
Women should come forward to start avia on
companies, Choubey said in the video message
recorded for the non-profit group Women in
Avia on Interna onal (WAI). The event,
organized by WAI, was also a ended by Choubey
and Civil Avia on Minister Ashok Gajapathi Raju.
As part of efforts to make flying more affordable
as well as connect unserved and underserved
airports, the government has unveiled the
ambi ousregionalconnec vityschemeUDAN.
Under UDAN, various incen ves would be
extended to the par cipa ng airlines, including
viabilitygapfunding,whilefareswouldbecapped
at Rs 2,500 for one-hour flights. Helicopter
servicesarealsocoveredunderthescheme.
"Wedohavesomewaytogoinaddressinggender
inequality, but the silver lining in the cloud is that
everybody has started accep ng that gender
inequality must be a thing of the past," he said.
Raju also felicitated the all-women crew of Air
India that flew around the world on a Delhi-San
Francisco flight. WAI unveiled the slogan 'Be Ki
Udaan, Desh Ka Swabhimaan' as part of
Interna onalWomen'sDaycelebra ons.
Bidding for next round of UDAN ights within
3 months: Government
The second phase of this scheme is the Bidding round of the regional
connec vity scheme or UDAN, which seeks to make flying affordable on
short domes c routes, is likely to conclude within the next three
months. "We are s ll deciding on when the bidding process will be open
and more flight services available to north Bihar," Union Minister of
StateforCivilAvia onJayantSinhasaidatapressconference.
He also said, as part of the second phase of the regional connec vity
scheme (RCS), the government will host an event where all interested
airline operators, as well as ci es and states interested in having
enhancedairconnec vity,willbeinvited.
Accoprdingly Under the rst round of RCS,
128 routes were awarded to ve
airlines last month.
The first flight under the first round of the scheme took off yesterday
with Alliance Air, the regional wing of Air India, opera ng a flight
between Shimla and Delhi. Under the RCS, fares on selected short
routesarecappedatRs2,500forone-hourflights.TheCentreandstates
provide financial assistance to airlines opera ng on the UDAN routes to
make flying affordable. Under the 'Ude Desh ka Aam Nagrik' (UDAN)
scheme, the government also aims to connect 45 unserved and under-
servedairports.Ontheconten ousissueofRegionalConnec vityFund,
Sinha said, "We are very close to resolu on and we think we have been
able to address the concerns". To provide funding for the flights
operated under RCS the government had decided to impose a levy of Rs
7,500 to Rs 8,500 per flight on every departure on major air routes such
as Delhi, Mumbai, Chennai, Hyderabad, Bengaluru and Kolkata. This has
been challenged in court by the Federa on of Indian Airlines (FIA),
which represents scheduled carriers like Indigo, Jet Airways, GoAir and
SpiceJet.
STOCK MARKET 13

Now Government set to lter or can say
'rene' regional air connectivity scheme
UDAN
According to a senior official, The government is looking to "refine" the
present norms for regional air connec vity scheme as it prepares for the
second round of bidding in three months. While the scheme became
opera onal a er the first flight from Shimla to the na onal capital, the
authori es have started the groundwork to comprehensively review its
framework, including those rela ng to the number of seats and exclusivity
period for an airline. The ambi ous scheme UDAN seeks to connect un-
served and under-served airports as well as make flying more affordable
forthemasseswhichisthisscheme'smainaim.
The Airports Authority of India (AAI) Chairman Guruprasad Mohapatra
saideffortsareontorefinethenormsforbiddingunderthescheme.
Thena onalairportoperatoristhenodalagencyforUDAN.
Mohapatra said in a personal interview that "(Before) the second round of
bidding, we will further refine (the scheme) a er extensive stakeholder
consulta ons,"No ng that dra guidelines will be prepared before the
next round of bidding, he said, "It is not necessary that the terms and
condi ons in the first round of bidding would remain the same." The
number of seats reserved for subsidized rates, exclusivity period given for
an airline on a par cular route, frequency of a par cular flight and other
aspects of UDAN will be looked into. "all these ques ons are open for
discussions,"Mohapatrasaid.A ergatheringviewsfromthestakeholders,
including states and airlines, the dra guidelines will be put up for public
comments before finalising the changes. Asked whether there could be
changes to the basic structure of UDAN itself, Mohapatra said there "could
be", depending on the sugges ons and how realis c these are. A er
gathering views from the stakeholders, including states and airlines, the
dra guidelines will be put up for public comments before finalizing the
changes. Asked whether there could be changes to the basic structure of
UDAN itself, Mohapatra said there "could be", depending on the
sugges onsandhowrealis ctheseare.
The official also said a separate round of bidding is likely for helicopters as
the ministry is looking at ways to make the scheme "more feasible and
a rac ve for helicopter operators". The focus is on hilly terrain in the
North-East in order to improve air connec vity in that region, she added.
Air Odisha Avia on got maximum number of 50 routes followed by Air
Deccan (34) and Turbo Megha Airways (18). The AI subsidiary Airline Allied
Serviceswilloperateon15routeswhileSpiceJetwonbidsfor11.
STOCK MARKET 14

THE UNIVERSAL
TRENDSPOTTING
INDICATOR:
'RAINBOW'
The Rainbow Moving Average Indicator is based on
Australian trader Daryl Guppy's Rainbow indicator.
The Rainbow MA indicator consists of 22 exponen al
moving averages (EMA) ranging from 9-period up to
100-period EMAs. These 22 EMAs are plo ed on the
price chart using the full colour spectrum which makes
the indicator look like a “rainbow”. But it's not just
about aesthe cs – the rainbow indicator is very useful
in highligh ng trend changes. It was popularized by
traderLarsGo wikintheGodmodetraderforum.
It o en happens that the MA lines don't have a
common dynamic and are intertwined. Thus, the
indicator shows the presence of the price range –
sideways trend. Since the indicator under
considera on is a trend one, its efficiency drops at the
moments of a flat, and the traders are advised to sit
s ll and avoid opening posi ons. The lack of posi on is
alsoaposi on.
The strategy dubbed “Rainbow” has already gained quite a lot of
popularity among traders not only those who trade short-term, but
also among long-term ones. The strategy is based on the Rainbow
indicator, which looks like a rainbow. This indicator is very good-
looking. But it's not just about the beauty; the Rainbow indicator is
very efficient and shows good results. Both professional and novice
traders can use this indicator. Any currency pair can be traded, the
indicatorisuniversal.
STOCK MARKET 15

Theindicatoruses
5 colors
yellow, blue, green, red and pink. Each
color consists of several MAs of
exponen al type. To be precise, the
composi on of the colors is the
following:
Yellow ЕМА: 2,3, 4, 5, 6, 7, 8, 9, 10, 11,
12, 13, 14, 15;
Blue ЕМА: 17, 19, 21, 23, 25, 27, 29, 31,
33, 35, 37, 39, 41;
Green ЕМА: 44, 47, 50, 53, 56, 59, 62,
65, 68, 71, 74;
Red ЕМА: 78, 82, 86, 90, 94, 98, 102,
106, 110, 114, 118, 122;
Pink ЕМА: 125, 130, 135, 140, 145, 150,
155, 160, 165, 170, 175, 180, 185, 190,
195, 200.
Spottrends-
The indicator allows seeing the full
depth of the market: long-term,
medium-term and short-term trends.
Such composi on also enables any
tradertousetheRainbowindicator.
Yellow moving averages indicate short-
term trends. The behaviour of this MA
will ﬁrst of all be interes ng for pipsers.
Blue MAs indicate the area for short-
term traders' ac vity – those who trade
intraday. Green MAs characterize
medium-term trends. Red lines show
the behavior of long-term traders, and
pink – that of the investors who hold
posi onsforseveralyears.
Buyandsellsignal-
The indicator is a trend one, so selling
and buying is quite easy. The most
powerful and accurate call to ac on is
forma on of a unidirec onal movement
of all moving averages. If the moving
averages are located in the following
order: yellow, blue, green, red and pink,
then we should buy. Simply put, in such
cases both speculators and investors
open orders to buy, thus forming a
bullish trend. When the colors of the
lines come in a reversal order, it is a
signaltosell.
You can see in this chart, here
the colors- yellow, blue,
green, red and pink are
located in the ascending
order, indica ng a bullish
trend, thus it is giving buy
signal, whereas a er some
me the reverse trend starts
thusitissellsignal.
STOCK MARKET 16

The hottest public issues of
IPO
INDIA
ndia emerged as one of the most ac ve
Iregional markets for IPOs with 26 such
offerings in the first three months of 2017.
Every investor has desire to make a life me of
moneyinthestockmarket,andanIPOisthemost
temp ng vehicle to realise it. Investors should do
well to analyse one to avoid any pain in the
future. A er BSE IPO got listed with 35% lis ng
gains, investors are now wai ng for other large
and a rac ve upcoming IPOs for investment in
2017. Ini al Public Offer (IPO), is the first sale of
shares by the privately owned company to the
public. The companies going public raises funds
through IPO's for working capital, debt
repayment, acquisi ons, and a host of other
uses.
Investor can apply for IPO Stocks by filling an IPO
Applica on Form. These forms are usually
available with stock brokers for free. Investor can
also apply for IPO Stocks online through Online
Stock Brokers like ICICI bank, Share Khan, and
RelianceMoney.
Here is a quick analysis of these
upcoming
IPOs1. Reliance Infrastructure Ltd- Anil Ambani Group
flagship Reliance Infrastructure Ltd has filed fresh
papers with markets regulator Securi es and
Exchange Board of India (Sebi) for its proposed
InvITFundini alpublicoffer(IPO)ofRs2,500crore.
The issue is being managed by Axis Capital, DSP
Merrill Lynch, UBS Securi es, SBI Capital Markets
and Yes Securi es. So far, only IRB Infrastructure
Developers' infrastructure investment trusts—IRB
InvIT Fund—has hit the market for an IPO. It is
aiming to raise more than Rs5,000 crore through
theissue.
2. Pushpanjali Realms and Infratech Limited- Public
issue of 26,46,000 equity shares of face value of Rs.
10/-eachfullypaidupforcashataPriceofRs.55/-
STOCK MARKET 17

per equity share aggrega ng Rs. 14.55 crores by
the company, of which 1,34,000 equity shares of
face value of Rs. 10/- each fully paid up and Issue
of 25,12,000 equity shares of face value of Rs.
10/- each fully paid up is hereina er referred to
asthenetissue.
3. Capacit'e Infraprojects Ltd- the company is yet to
disclose the number of shares and offer price of
shares having face value of Rs 10 each which it is
going to be issued. Capacit'e Infraprojects
Limited has booked over Rs 4,000 crores as on
January 31, 2017 comprising 51 ongoing
projects. The Company's consolidated revenue
from opera ons grew from Rs. 2,142.59 million
for Fiscal 2014 to Rs. 8,532.90 million for Fiscal
2016 and Rs. 8,473.73 million for the nine month
periodendedDecember31,2016.
4. Apex Frozen Ltd- Andhra Pradesh-based Apex
Frozen Ltd has filed a dra red herring
prospectus for an Ini al Public Offer (IPO). The
IPO will offer 8.7 million shares of face value of Rs
10 each. The ini al offer will comprise a fresh
issue of 7.25 million shares and on offer for sale
(OFS)ofupto1.45millionshares.
5. MAS Financial Services- In a bid to raise an
es mated amount of Rs 550 crore, through an
ini al public offer. It operates as an NBFC with a
strong presence in six Indian states as well as
Delhi. The company is likely to have an IPO of
fresh shares, worth upto Rs 307.40 crore, with an
offer for sale of upto Rs 242.60 crore, by exis ng
shareholders. While the face value of the shares
islikelytobeRs10.
6. Cochin Shipyard Ltd (CSL)- Cochin Shipyard Ltd
(CSL), India's largest largest public sector
shipyard, is planning to raise about Rs. 1,400-
1,500 crore through an ini al public offering
(IPO) and has filed ini al papers with the market
regulator. The IPO comprises 33,984,000 equity
shares consis ng of a fresh issue of 22,656,000
equity shares and an offer for sale of 11,328,000
equity shares by the President of India, sources
closetothedevelopmenttoldBusinessLine.
7. Nakshatra World Ltd- Gitanjali Gems' arm
Nakshatra World Ltd has filed dra papers
comprises 1.8 crore equity shares of Nakshatra
World, which offers jewellery under the brands
Nakshatra, Gili, Asmi, Sangini, Diya, Parineeta
andRivaaz.
While the exact size of the IPO could not be
ascertained,GitanjaliGemshadinDecemberlast
year announced that Nakshatra World would
raise up to Rs650 crore through an ini al public
offer. Proceeds of the issue will be u lised
towards funding working capital requirements
andothergeneralcorporatepurposes.
8. Bharat Road Network - The Company is a road
BOT Company in India, public issue consists of up
to29,300,000equitysharesoffacevalueofRs10
each of BRNL. The equity shares will have a face
value of Rs 10 and the final price band will be
decided in consulta on with the Book Running
Lead Managers (BRLMs). The issue size is
es matedtobearoundRs.1200crore.
9. Shri Ram Switchgears Ltd- Public issue of
26,70,000 equity shares of face value of Rs. 10/-
each fully paid up for cash at a Price of Rs. 19/-
per equity aggrega ng Rs. 5.07 crores of which
1,38,000 equity Shares of face value of Rs. 10/-
each fully paid up will be reserved for
subscrip on by Market maker to the issue. The
issue less the market Maker reserva on por on
i.e. Issue of 25,32,000 equity shares of face value
ofRs.10/-eachFullypaidupisthenetissue.
10. Shivalik Engineering Industries Ltd- Public issue
of 27,24,000 equity shares of face value of Rs.
10/- each fully paid up for Cash at a price of Rs.
21/- per equity share aggrega ng Rs. 5.72 crores
by our company, of which 1,44,000 equity shares
of face value of Rs. 10/- each fully paid up. The
issue less the market maker reserva on por on
i.e. Issue of 25,80,000 equity shares of face value
of Rs. 10/- each fully paid up is hereina er
referred to as the net issue. The face value of the
equity shares is Rs. 10/- each. The issue price is
Rs. 21/-. The issue price is 2.10 mes the face
value.
IPO
STOCK MARKET 18

new ac on plans to
increase
GDP
INDIA FIRST:
India is the fastest growing economy in the world today – an impressive
posi on it has held since it overtook China in the year 2015 – with the
Interna onal Monetary Fund (IMF) predic ng that India is likely to retain this
status by 2020. With the Gross Domes c Product (GDP) of the country
growing at more than 7% since 2014, the IMF has kept projec ons for India's
growth in 2016-2017 at 7.5%, which is remarkable since there has been a
forecast of the global growth projected at 3.4% in 2016 and 3.6% in 2017.
India is also the third-largest economy in the world regarding its purchasing
power parity according to the World Bank with the GDP of over USD 2.1
trillion. It was named amongst the top 10 Foreign Direct Investment (FDI)
des na ons in 2015.
MAKE IN INDIA
Prime Minister Narendra Modi launched the Make in India ini a ve on
September 25, 2014, with the primary goal of making India a global
manufacturing hub, by encouraging both mul na onal as well as domes c
companies to manufacture their products within the country. Led by the
Department of Industrial Policy and Promo on, the ini a ve aims to raise the
contribu on of the manufacturing sector to 25% of the Gross Domes c Product
(GDP) by the year 2025 from its current 16%. Make in India has introduced
mul ple new ini a ves, promo ng foreign direct investment, implemen ng
intellectualpropertyrightsanddevelopingthemanufacturingsector.
It targets 25 sectors of the economy which range from automobile to
Informa onTechnology(IT)&BusinessProcessManagement(BPM).
BUY INDIAN
As the Na onal Democra c Alliance government turns three later, the goalposts
seem to be fast shi ing from just Make in India to also Buy in India. A mega
policy is learnt to be in the works covering several key economic sectors, where
domes c procurement should be given preference. The sectors that the new
policy could cover are likely to have names where the government is the largest
consumer such as engineering, machinery and paper, among others. The Union
government has, in the recent past, come up with decisions for sectors such as
petroleum and steel, highligh ng preferen al domes c procurement, but the
new policy with the swadeshi focus is expected to be much larger in scope. This
has come at a me when many developed countries, including America and
STOCK MARKET 19

ADVANTAGES OF THIS
CAMPAIGN:
·Purchasing a locallyproduced good lets the
money stay within the same country as long
as the producer doesn't invest it in another
country.
·The prices of goods reduce because it
doesn't involve complex packing and
processing, the shipping price will reduce a
lot.
·Purchasing more goods will lead to higher
profits and the living standard of employers
whoworkinthecompanieswillincrease.
·As more products are produced locally, the
businesses grow and the revenue of the
government also will increase in the form of
taxes.
·The money saved from locally produced
goods can be invested back in local
businesses which will further improve the
qualityandnetworthofcompanies.
·Less processing of the goods will reduce
the pollu on several mes and make the
products durable and life span of product
increases.
The government of India has already taken several steps for some much-
needed change in the country. Numerous na onal developmental
projects have been launched in the recent years which cover a wide array
of sectors to ini ate economic reform as well as target social change.
Complementary to 'Make in India' that aims to promote the 25 sectors
iden fied for investment in manufacturing, the government has also
launchedprogressiveini a veslike:
Australia, are on an economic na onalism
spree. US President Donald Trump's
protec onist stance, especially related to
H1B visa, for instance, has significantly hurt
the informa on technology industry.
Purchasing locally produced goods is
beneficialtotheeconomyaslongaswealso
export what we produce apart from
domes cconsump on. 1.Digital India: The ini a ve will connect rural areas with high-speed
internet networks, boost electronics manufacturing, transforming India
intoadigitallyempoweredsocietyandknowledgeeconomy.
2.Start-Up India: The ini a ve aims at fostering entrepreneurship and
promo ng innova on by crea ng an ecosystem that is conducive to
growthofStart-ups.
3.Skill India: An ini a ve aims at encouraging the development of skill
force across India by including the Na onal Skill Development schemes.
Over400millionpeoplewillbetrainedinvariousskillsby2022.
4.Pradhan Mantri Jan-Dhan Yojana (PMJDY): This program plans to
ensure access to different financial services like availability of basic
savings bank account, access to need-based credit, remi ances facility,
insurance and pension to the classes in society that economically-
challenged.
5.Smart City: This is an urban renewal and retrofi ng program with a
mission to develop 100 ci es all over the country making them ci zen
friendlyandsustainable.
'Make in India' is the proof that the na on is willing to embrace growth by
adop ng changes on the journey to becoming an economic
superpower.Looking at these sta s cs, one cannot deny that India has an
incredible poten al to rise as an economic power with a prosperous
future. It is expected that the country's GDP will con nue to expand at an
average of over 7% which means nominal GDP will nearly double to
around USD 4.50 trillion (at current exchange rate) in 2025. India's
purchasing power parity in 2025 will thus be around USD 15 trillion by a
similar calcula on. It is also set to be the 5th largest consumer market by
the same year. It is crucial to make several reforms and introduce the right
typeofpoliciestomaintainthecurrenttrajectory.
STOCK MARKET 20

RUSHIL DECOR LTD
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
LATEST DIVIDEND DATE
DIVIDEND YIELD (%)
BOOK VALUE / SHARE ( ) [*S]
P/B RATIO ( ) [*S]
[*C] Consolidated [*S] Standalone
RUSHIL DECOR LTD - KEY FUNDAMENTALS
1.83%
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
CATEGORY SHARE (%)
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
74.98
0.29
75.27
67.82
7.45
0.68
14.4
12.95
210.34
13.71
8.37
76.24
848.53
-
PERIOD
1.07%
8.94%
12.43%
12.65%
107.70%
1186.95%
1.03%
8.98%
12.28%
12.79%
107.00%
1185.73%
1.34%
2.46%
6.86%
17.32%
17.10%
24.91%
1.20%
2.02%
6.73%
17.58%
18.23%
29.65%
RUSHIL DECOR LTD - FINANCIAL RESULTS RUSHIL DECOR LTD - SHAREHOLDING PATTERN
RUSHIL DECOR LTD- RETURNS
Rushil Decor Ltd is the leading company of Rushil Group.
The company deals in comprehensive engineered interior
products like Decorative Laminate Sheets and Plain
Particles Boards. The company has an integrated multi-
product modern facilities strategically located at Gujarat.
They operate via five marketing offices, 14 consignment
agents and 70 distributors. They acquired the laminate
manufacturing unit at Gandhinagar, Gujarat with installed
capacity of 840,000 Laminate sheets annually. The
company is in process of setting up Medium Density
Fiberboard (MDF) plant having an installed capacity of
90.000 CuM per annum for manufacturing Medium
DensityFibreboardatChikmagalur,Karnataka.
BUY RUSHIL ABOVE 740 TGT 810/880 SL 670
MAR 2017 MAR 2016 % CHGPARTICULARS ( CR)
PARAMETER VALUES
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
BSE NSE SENSEX NIFTY
CASHRECOMMENDATIONS
MONEY CLASSIC RESEARCH
1,086
17.04
44.26
10
5.00
15 SEP 2016
0.00
72.90
10.34
84.69
0.9
85.59
72.47
13.13
6.45
14.4
54.80
0.01
3.30
0.00
0.00
11.63
0.00
29.07
STOCK MARKET 21

RUSHIL DECOR LTD
68,282
72.85
20.51
10
120.00
29 MAY 2017
0.00
482.50
3.10
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
YES BANK LTD- KEY FUNDAMENTALSYes Bank is engaged in providing a range of banking and
financial services. The bank deals in four segments-
Treasury, Corporate/Wholesale Banking, Retail Banking
and Other Banking Operations. Investments, trading, all
financial markets activities undertaken on behalf of the
Bank's customers, maintenance of reserve requirements
and resource mobilization from other Banks and financial
institutions are included in the treasury segment. Lending,
deposit taking and other services offered to corporate
customers are included in the corporate or wholesale
banking segment. The retail banking segment includes
deposit taking, lending and other services offered to retail
customers. Para banking activities like third party product
distribution and merchant banking is included in other
bankingoperationssegment.
PARAMETER VALUES
YES BANK LTD
BUY YESBANK ABOVE 1470 TGT 1620/1750 SL 1300
CASHRECOMMENDATIONS
HIGHER HIGH & HIGHER LOWS IN DAILY CHAT.
RESISTANCE BREAKOUT IN DAILY CHART.
RSI INDICATE BUYING POSITION IN WEEKLY CHART
STOCK MARKET 22

PERIOD
4.47%
-5.47%
3.41%
27.95%
46.68%
170.50%
4.68%
-5.38%
3.47%
28.20%
46.61%
171.47%
1.37%
2.49%
6.89%
17.36%
17.13%
24.95%
1.23%
2.05%
6.76%
17.62%
18.27%
29.69%
YES BANK LTD- RETURNS
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
YESBANK
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
20.19
0.07
46.65
12.73
10.46
7.72
0.00
2.13
CATEGORY SHARE (%)
4348.99
1257.39
5606.38
1515.84
4090.54
914.12
456.49
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
3528.3
802.81
4331.11
1005.24
3325.87
702.11
420.53
23.26
56.62
29.44
50.79
22.99
30.2
-
YES BANK LTD - SHAREHOLDING PATTERN
CASHRECOMMENDATIONS
STOCK TAKING SUPPORT 1420 LEVELS.
HAMMER CANDLE PATTERN IN WEEKLY CHART.
ROUNDING PATTERN IN DAILY CHART SHOWING BUY POSITION
YES BANK LTD - FINANCIAL RESULTS
STOCK MARKET 23

ADANI ENTERPRISES LTD
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
ADANI ENTERPRISES LTD - KEY FUNDAMENTALS
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
CATEGORY SHARE (%)
12195.15
165.07
12360.22
11565.99
794.23
210.39
109.98
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
8151.19
213.95
8365.14
7785.08
580.06
141.76
109.98
49.61
-22.85
47.76
48.57
36.92
48.41
-
PERIOD
-3.74%
-2.26%
21.06%
83.82%
57.89%
-76.09%
-4.06%
-1.35%
21.07%
84.03%
57.83%
-76.08%
1.41%
2.53%
6.93%
17.40%
17.17%
24.99%
1.29%
2.11%
6.82%
17.69%
18.34%
29.77%
ADANI ENTERPRISES LTD - FINANCIAL RESULTS ADANI ENTERPRISES LTD - SHAREHOLDING PATTERN
ADANI ENTERPRISES LTD - RETURNS
Adani Enterprises Ltd operates in energy and logistics
sectors. The company deals in trading power port agro real
estate and others. They have diversified interests in power
mining oil and gas explorations natural gas distribution
businesses supported by port shipping and trading
activities. Their coal mining business includes mining
processing acquisition exploration and development of
mining assets. They undertake city gas distribution
business through their wholly owned subsidiary Adani Gas
Ltd. they operate real estate sector through their
subsidiaryAdaniInfrastructureand developersPvt Ltd.The
company commissioned two floating crane barge. They
started the work on setting up grain silos under Adani Agri
Logistics.
BUY ADANIENT ABOVE 120 TGT 140/160 SL 99
PARAMETER VALUES
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
CASHRECOMMENDATIONS
12,868
2.02
57.92
1
40.00
22 MAR 2016
0.34
34.25
3.42
74.92
2.62
18.13
0.00
0.22
2.58
0.00
1.54
STOCK MARKET 24

MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
INDIAN OIL CORPORATION LTD- KEY FUNDAMENTALSIndian Oil Corporation Ltd is India's is India's flagship
national oil company with business interests straddling the
entire hydrocarbon value chain - from refining pipeline
transportation and marketing of petroleum products to
exploration & production of crude oil & gas marketing of
natural gas and petrochemicals. The company is the
leading Indian corporate in the Fortune 'Global 500' listing
ranked at the 98th position in the year 2011.The company's
operations include refineries pipelines and marketing.
Indian Oil is a group of leading companies including LPGas
SERVO lubricants XTRAPREMIUM petrol and XTRAMILE
diesel and Propel Petrochemicals. In exploration and
production they operate in 11 oil and gas blocks and two
coal bed methane blocks while the overseas portfolio
consistsof10blocksspreadacross7countries.
PARAMETER VALUES
INDIAN OIL CORPORATION LTD
STOCK SHOWING UPTREND ON DAILY CHART.
HIGHER HIGH & HIGHER LOWS ON DAILY CHART.
RSI INDICATE BUY POSITION ON DAILY CHART.
CASHRECOMMENDATIONS
BUY IOC ABOVE 450 TGT 500/550 SL 420
203,826
35.16
11.94
10
45.00
24 MAR 2017
4.33
206.02
2.04
ADANI ENTERPRISES LTD
STOCK MARKET 25

PERIOD
-3.56%
-3.12%
9.00%
41.57%
108.85%
126.49%
-3.62%
-3.25%
8.97%
41.53%
108.70%
126.04%
1.34%
2.46%
6.86%
17.32%
17.10%
24.91%
1.32%
2.15%
6.86%
17.73%
18.38%
29.81%
INDIAN OIL CORPORATION LTD - RESEARCH REPORTS
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
INDIAN OIL CORPORATION LTD
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
CATEGORY SHARE (%)
100337.51
2059.34
102396.85
95928.9
6467.95
3720.62
4855.9
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
78415.51
741.36
79156.87
73679.38
5477.49
2005.89
2427.95
27.96
177.78
29.36
30.2
18.08
85.48
-
INDIAN OIL CORPORATION LTD - SHAREHOLDING PATTERN
MAR2017 MAR 2016 % CHGPARTICULARS ( CR)
CASHRECOMMENDATIONS
RSI IN DAILY CHART INDICATE BULLISH POSITION.
STOCK TAKING SUPPORT OF 422 LEVELS
THE BREAKOUT OF CONSOLIDATION WILL SHOW THE STRONG BULLISH POSITION
57.34
0.12
5.36
8.18
3.39
2.78
0.00
22.73
STOCK MARKET 26

TATA STEEL LTD
49,459
40.12
12.69
10
100.00
20 JUL 2017
2.06
511.31
1.00
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
TATA STEEL LTD - KEY FUNDAMENTALS
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
31.35
0.64
14.01
17.49
12.49
19.84
0.00
4.07
CATEGORY SHARE (%)
33896
263.5
34159.5
31499.22
2660.28
-1168.02
970.24
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
25955.06
123.32
26078.38
26343.73
-265.35
-3041.88
970.24
30.59
113.67
30.99
19.57
1102.56
61.6
-
PERIOD
4.06%
12.11%
4.98%
24.91%
56.69%
8.72%
4.31%
12.52%
5.12%
24.92%
57.01%
9.18%
1.49%
2.61%
7.01%
17.49%
17.26%
25.09%
1.28%
2.10%
6.81%
17.67%
18.33%
29.75%
TATA STEEL LTD - FINANCIAL RESULTS TATA STEEL LTD - SHAREHOLDING PATTERN
TATA STEEL LTD - RETURNS
Tata Steel is the 10th largest steel company of the world and
2nd most geographically diversified steel producer of the
world. They diversified their production business in India,
Europe and South East Asia.They have manufacturing units in
26 countries and a presence in 50 European and Asian
markets. The company together with their subsidiaries,
engagesinthemanufactureandsaleofsteelproductsinIndia
and internationally. They offer hot and cold rolled coils and
sheets, galvanized sheets, tubes, wire rods, construction
rebars and bearings. The company is in process of setting up a
Continuous Annealing and Processing Line at Jamshedpur
with a capacity of 0.6 mtpa under a joint venture company
with Japan-based Nippon Steel Corporation (NSC). The line
willproduceautomotivecoldrolledflatproductsandaddres.
FUTURE CALL BUY TATASTEEL FUTURE ABOVE 498 TGT 515/530 SL 475
PARAMETER VALUES
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
FUTURESRECOMMENDATIONS
STOCK MARKET 27

TATA STEEL LTD
139,387
-
-
1
100.00
08 SEP 2016
0.17
90.10
6.45
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
SUN PHARMACEUTICALS INDUSTRIES LTD - KEY FUNDAMENTALS
Sun Pharmaceutical Industries Ltd is an international
specialty pharma company. The company manufactures and
markets pharmaceutical formulations as branded generics as
well as generics in India the United States and several other
markets across the world. The company's business is divided
into four segments: Indian Branded Generics US Generics
International Branded Generics (ROW) and Active
PharmaceuticalIngredients(API).Theirbrandsareprescribed
in chronic therapy areas like cardiology psychiatry neurology
gastroenterology diabetology and respiratory. They make
specialty APIs including peptides steroids hormones and
anticancers. APIs and Dosage forms are made at 20 plants
across India Israel the United States Canada Hungary Brazil
Mexico and Bangladesh. The company also announces
another successful completion of Opiates business
acquisitioninAustraliaandalsoacquiresinsitevision.
PARAMETER VALUES
SUN PHARMACEUTICALS INDUSTRIES LTD
FUTURE CALL BUY SUNPHARMA FUTURE AROUND 540-550 TGT 590/630 SL 497
CONSOLIDATE BREAKOUT IN DAILY CHART.
FLAG PATTERN BREAKOUT IN DAILY.
MONTHLY TRENDLINE BREAKOUT SHOWN BULLISH POSITION.
STOCK MARKET 28

PERIOD
-10.96%
-9.60%
-13.98%
-18.42%
-25.52%
-1.85%
-11.07%
-9.64%
-13.89%
-18.67%
-25.47%
-1.73%
1.61%
2.73%
7.14%
17.63%
17.40%
25.24%
1.38%
2.20%
6.92%
17.79%
18.44%
29.88%
SUN PHARMACEUTICALS INDUSTRIES LTD- RETURNS
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
SUN PHARMACEUTICALS INDUSTRIES LTD
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
54.38
5.18
21.28
1.66
5.36
7.05
0.00
5.08
CATEGORY SHARE (%)
7912.66
122.15
8034.81
5459.53
2575.28
1729.09
239.92
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
7122.31
172.89
7295.2
4876.67
2418.53
1951.26
240.64
11.1
-29.35
10.14
11.95
6.48
-11.39
-
SUN PHARMACEUTICALS - FINANCIAL RESULTS SUN PHARMACEUTICALS INDUSTRIES LTD- SHAREHOLDING PATTERN
DEC 2016 DEC 2015 % CHGPARTICULARS ( CR)
WEEKLY & DAILY SUPPORT ON CHART.
RSI OVER SOLD IN WEEKLY & MONTHLY CHART RECOMMEND FOR BUY POSITION.
MACD CROSSOVER IN WEEKLY CHART INDICATE BUY POSITION.
STOCK MARKET 29

FORTIS HEALTHCARE LTD
10,514
-
-
10
-
-
0.00
82.67
2.46
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
FORTIS HEALTHCARE LTD- KEY FUNDAMENTALS
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
52.30
0.20
34.50
0.00
0.06
7.77
0.00
5.03
CATEGORY SHARE (%)
1133.38
58.93
1192.31
1082.84
109.47
15.65
481.56
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
1026.52
12.86
1039.38
1065.79
-26.41
-48.25
463.13
10.41
358.24
14.71
1.6
514.5
132.44
-
PERIOD
-0.20%
-5.95%
3.78%
15.04%
16.90%
85.01%
-0.15%
-5.75%
3.86%
15.19%
17.38%
85.28%
1.54%
2.66%
7.07%
17.55%
17.32%
25.15%
1.43%
2.26%
6.98%
17.85%
18.51%
29.95%
FORTIS HEALTHCARE LTD - FINANCIAL RESULTS AFORTIS HEALTHCARE LTD - SHAREHOLDING PATTERN
FORTIS HEALTHCARE LTD - RETURNS
- Fortis Healthcare Ltd is a super speciality hospitals' chain in
India. They have hospitals in 15 cities of India. For their
healthcare quality, they are internationally recognized by JCI
(Joint Commission International, USA) and NABH (National
Accreditation Board for Hospitals & Healthcare Providers,
India).Thecompanyisengagedinthebusinessofleasing,hire
purchase and other related financial services. FFSL went
public in Feb.'95 to augment resources to meet the needs of
its planned growth. The company obtained its category-I
merchant banking registration from SEBI in Apr.'95. The
company has been trying hard to recover money from various
clients through legal procedures and various other measures
and accordingly written off Rs 37.14 cr during the year 1999-
2000incaseswheretherearenochangesofanyrecovery.
FUTURE CALL BUY FORTIS FUTURE AROUND 195-196 TGT 210/224 SL 185
PARAMETER VALUES
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
STOCK MARKET 30

FORTIS HEALTHCARE LTD
31,556
24.56
32.60
5
100.00
22 MAR 2017
1.95
102.01
7.85
MARKET CAP ( CR)
EPS - TTM ( ) [*S]
P/E RATIO (X) [*S]
FACE VALUE ( )
LATEST DIVIDEND (%)
DIVIDEND YIELD (%)
P/B RATIO ( ) [*S]
SUN TV NETWORK LTD - KEY FUNDAMENTALSSUNTV Network Ltd is India's second largest television
network having power-packed Twenty TV channels, Forty
One FM Radio Stations, Two Daily Newspapers and Four
Magazines in several Indian languages. They by their
subsidiary- South Asia FM Ltd (SAFL) entered into a strategic
alliance with Red FM to further expand in FM Radio
broadcasting business in the North, West and East Indian
markets. During 2008, from January to April, SunTV Network
had launched its FM Radio Station under the brand 'S FM' at
different locations, such as Kanpur, Thiruvananthapuram,
Thrissur, Mangalore, Kannur (Kerala), Mysore and
Jamshedpur.
PARAMETER VALUES
FUTURE CALL BUY SUNTV FUTURE AROUND 805 TGT 845/875 SL 760
REVERSAL FROM BOTTOM
FALLING WEDGE IN DAILY CHART
CONSOLIDATION WILL BREAK FOR BULLISH POSITION
SUN TV NETWORK LTD
STOCK MARKET 31

PERIOD
-6.06%
-13.33%
13.64%
74.23%
112.54%
93.58%
-5.74%
-13.07%
13.96%
74.73%
112.51%
94.13%
1.49%
2.60%
7.01%
17.48%
17.26%
25.09%
1.37%
2.20%
6.91%
17.78%
18.44%
29.87%
SUN TV NETWORK LTD - RETURNS
1 WEEK
1 MONTH
3 MONTH
6 MONTH
1 YEAR
3 YEAR
SUN TV NETWORK LTD
PROMOTERS
BANKS/FIS
FIIS
INSURANCE
MUTUAL FUNDS
INDIAN PUBLIC
CUSTODIANS
OTHER
75.00
0.01
16.24
0.00
1.61
5.13
0.00
2.00
CATEGORY SHARE (%)
589.43
38.93
628.36
149.7
478.66
240.09
197.04
NET SALES
OTHER INCOME
TOTAL INCOME
TOTAL EXPENSES
OPERATING PROFIT
NET PROFIT
EQUITY CAPITAL
573.24
28.92
602.16
135.95
466.21
216.33
197.04
2.82
34.61
4.35
10.11
2.67
10.98
-
SUN TV NETWORK LTD - FINANCIAL RESULTS SUN TV NETWORK LTD - SHAREHOLDING PATTERN
STOCK TAKING STRONG SUPPORT 800 LEVELS
THREE OUTSIDES UP ON M 30 CHART.
BULLISH ENGULFING ON M 30 CHART
STOCK MARKET 32

FOREIGN EXCHANGE
reserve of India on a new high
Foreign Exchange Reserve
he Foreign Exchange Reserves of
TIndia are India's holdings of cash,
bank deposits, bonds, and other
ﬁnancial assets denominated in currencies
other than India's na onal currency, the
Indian rupee. The Reserve Bank of India
manages the reserves for the Indian
government and foreign currency assets are
the main component of the reserves. Foreign
exchange reserves act as the ﬁrst line of
defence for India in case of economic
slowdown, but acquisi on of reserves has its
own costs. Foreign exchange reserves
facilitate external trade and payment and
promote orderly development and
maintenance of foreign exchange market in
India.
Forexatanalltim
ehigh
India's foreign
exchange reserves
have clocked a fresh all-
me high of $375.71 billion
due to increase in foreign
currency assets. It increased by
unprecedented $2.985 billion in the week
that ended on May 5. The increase was majorly
due to an increase in the foreign currency assets
(FCAs). The reserves had increased by $1.594 billion to
$372.73 billion in the previous week.
The key components of India's
Foreign Exchange Reserves:
Foreign currency assets (FCAs): FCAs are the largest
component of the Foreign Reserves consis ng of US dollar
and other major non-US global currencies such as the
euro, pound and the yen. FCA rose by $2.474 billion in the
repor ng week. Addi onally, it also comprises
investments in US Treasury bonds, bonds of other selected
governments, deposits with foreign central and
commercialbanks.
Gold: Gold reserve is the gold held by the Reserve Bank of
Indiawiththeinten ontoserveasaguaranteetoredeem
STOCK MARKET 33

promises to pay depositors, note holders (e.g. paper
money),ortradingpeers,ortosecureacurrency.Thegold
reserves were stable for few weeks but it also increased
by$569.9millionto$20.438billion.
Special Drawing Rights (SDRs): The SDR was created by
the Interna onal Monetary Fund (IMF) as an
interna onal reserve asset in the year 1969 to
supplement its member countries' official reserves. It is
essen ally an ar ficial currency used by the IMF and is
basket of na onal currencies. SDRs' value decreased
marginally by $0.4 million to $1.459 billion and the
country's reserves with the fund also witnessed a dip by
$58.4millionto$2.288billion.
RBI's Reserve posi on with Interna onal Monetary
Fund (IMF): The RBI's reserve posi on with the IMF
declinedfrom58.4millionUSDto2.288billionUSD.
The rise can be a ributed to the likely maturi es in the
forwards market and also some spot buying from the
regulator as the Rupee had appreciated consistently over
thelastweek.
Downfa
ll
inForex
A er touching a record high,
foreign exchange reserves
were expected to rise further
but the India's foreign exchange reserves declined
marginally by $443.6 million to $375.27 billion in
the week to May 12, due to fall in foreign currency
assets. Gold reserves remained stable at $20.438
billion a er rising for the first me in past few
weeks in the previous week. The special drawing
rights with the Interna onal Monetary Fund
decreasedby$5.5millionto$1.454billion.
Important for a country to have
well amount of foreign exchange
reserves –
1. It increases the confidence in the monetary and
exchangeratepoliciesofthegovernment.
2.Itenhancesthecapacityofthecentralbankofthe
country tointerveneintheforeignexchangemarket
andcontrolanyadversemovementandstabilizethe
foreignexchangeratestoprovideamorefavourable
economic environment for the progress of the
country.
3. During me of any crisis foreign exchange
reserves come to the rescue of any country so as to
absorbthedistressrelatedtosuchcrisis.
4. It also adds to the comfort of market par cipants
that domes c currency is backed by external assets
and hence it also helps the equity markets of the
country, because due to strong reserves many
peoplefromforeigncountriesarewillingtoinvestin
the country having strong foreign exchange
reserves.
However holding too much foreign exchange
reservesisalsonotadvisablebecauseitinvolvesthe
opportunity cost of money ed in reserves rather
than inves ng somewhere else which could have
earnhigherreturnontheinvestedamount.
STOCK MARKET 34

Parabolic SAR:
A best combina on with Stochas cs oscillator
he Parabolic SAR (stop and
Treverse) indicator is a
dynamic indicator that is
used by many professional traders of
every market (Forex, Stocks, Op ons
and Futures). Parabolic SAR also
called as trend following indicator
which is designed to iden fy the
turning point in price ac on. It is
shown on the charts as a series of
small dots that are placed either
above or below the price. When the
price is trending to the upside, the
dots are below the price ac on and
when the price is trending to the
downside, the dots are placed above
the price ac on. It trails the price
movement un l the price move has
finishedandbeginstoreverse.
It is best used when the market is
trending. This tool does not
par cularly work at its best, when the
market is choppy and moving
sideways.
Combining the
SAR with Stochastics
oscillator
The parabolic SAR can be combined with many
indicators. The role of the parabolic SAR is to
determine trend direc on and any changes in that
direc on. It is best to combine it with indicators
designed to determine the strength of a trend not the
direc on of the trend. Thus parabolic SAR is not
combined with the indicator which is used to
determine a trend as this will only provide two sets of
trend confirma on signals. The indicator is combined
with an indicator that shows the strength of a trend,
and then when a strong trend has been iden fied, the
parabolic SAR can be used to determine op mal entry
and exit points. Let's see how this indicator works out
when combined with the Stochas cs oscillator and
whenusedasabreakoutpredictor.
STOCK MARKET 35

Parabolic SAR +
Stochastic Strategy
The strategy is about using the
posi oning of the Parabolic SAR indicator
to determine the trend of the currency
pair, and then using a cut-off mark on the
Stochas cs oscillator to know when to
pull the trigger to follow the trend for a
maximum of 40 to 540 pips. The system is
therefore only suitable for intraday
trading. A bit of mul ple me frame
analysis comes in as well, as the trend
direc on must be the same on the daily
chart, the 4-hour chart and the hourly
chart.
Implementing the Strategy
Thedailychartcanbewatchedoutinordertosee
where the trend of the currency pair is headed. If
the currency pair is in a downtrend, the dots of
the Parabolic SAR will be located above the
candles cks.Iftheassetisinanuptrend,thedots
of the Parabolic SAR will be located below the
candles cks. The 4 hour chart can be used to
confirm the trend that is also in consonance with
the trend detected on the daily chart. For
example, if the daily chart shows a downtrend
andthe4hourchartalsoshowsadowntrend
ENTRY SIGNALS
The entry signals are based on the cross of the lines
of the Stochas c oscillator rela ve to the posi on of
the 50 line, and at the same me, the posi on of the
ParabolicSARdotsrela vetothecandles cks.
LONG ENTRY
A long entry should be considered only
when the daily and 4 hour charts have
shown a currency pair which is in an
uptrend, confirmed by the appearance of
the dots of the Parabolic SAR indicator
belowthecandles cks.
Once the uptrend has been confirmed, the
trader can now place a LONG trade. We see
a demonstra on of the long trade setup in
thischartbelow:
Here we can see that the Stochas cs lines
crossed below the 50 line in the indicator
window and at the same me, the Parabolic
SARwasfoundbelowthecandles cks.SHORT ENTRY
A short trade should be made only when the
dailyand4hourchartshaveshownacurrency
pair which is in a downtrend, and which has
been adequately confirmed by the
appearance of the dots of the Parabolic SAR
indicator ABOVE the price ac on
candles.A erconfirma onofthedowntrend,
the trader should setup the short trade as
follows- We see a demonstra on of the short
tradesetupinthischartbelow:
Here we see the Stochas cs oscillator's lines
crossing above the 50 line in the indicator window
and at the same me, the Parabolic SAR was
located above the price ac on. The se ngs for the
stop loss, take profit and entry points are also
shown.
STOCK MARKET 36

S T O C K M A R K E T 47
In Donald J. trump's opening
addressa erbeingsworninasthe
45th president of the United
States of America on 20 January,
he conveyed a clear message to
the world — “From this day
forward, it's going to be only
A m e r i c a ﬁ r s t .” Tr u m p ' s
government follows two simple
rules: “Buy American and hire
American.” While Americans
applauded and cheered him on,
his speech has ra led the Indian IT
industry, which is deeply
dependent on America. A er all,
about 60 per cent of the $82-
billion so ware export revenue of
the Indian IT outsourcing industry
iscontributedbyNorthAmerica.
Some main points oil ministry encoded
In fact, Trump's victory as the upcoming US president
on 9 November had immediately sent shockwaves to
the Indian IT industry. Analysts and industry observers
were almost unanimous that the sector would have to
ba le a sense of uncertainty, to say the least. With the
US elec ng a president who has been extremely vocal
in his views against outsourcing, and assuming a
scenario wherein his electoral promises come to
frui on, it is no surprise that there will be an adverse
impact on the Indian outsourcing industry as a whole.
The industry should look for markets elsewhere and
make more serious a empts to enter the next orbit of
service delivery, focusing aggressively on value addi on
through digital transforma on, se ng up delivery
centresinlow-costtalentpocketsintheUS,acquiringUS-
basedtechnologyservicesandconsul ngcompaniesand
partneringwithstart-upecosystemtostayrelevantinthe
UStechnologybusiness.
under pressure of Donald Trump's policies
Indian IT companies
STOCK MARKET 37

The US already raised H-1B and L-1 visa costs in January
2016 — from $2,000 to $6,000 for H-1B and $4,500 for L-1
visas — for firms that employ 50 or more workers in the US,
with more than 50 per cent of them employed on H-1B or L-
1 visas. The eligibility criteria to a ain these visas will be
made more stringent during Trump's regime.
During his elec on campaign, Trump had said that he will
hike the minimum wage paid to H-1B visa holders, which
may reduce the job opportuni es for Indian IT professionals.
He also assured that he will impose 35 per cent tax on
American firms that lay off local workers and outsource jobs
to other countries including India.
While restric ons on the visa policies will be unwanted,
analysts believe the industry must gear up to embrace
changes. H1-B poten al restric ons are clearly a downside
for Indian IT players since that could result in restric on in
number of people as well as higher costs given the proposed
increase in the minimum salary levels to $100,000 per
annum.
However, the fact is, the industry is also changing
significantly in its delivery models with focus on AI, cloud,
robo cs, etc. Indian IT players are already adop ng the new
paradigm, but would need to accelerate adap on to the
changing landscape as a result of the shi in delivery models
as well as proposed changes in US H1B.
Trump's administra on's protec onist views would have a
further dampening impact on growth prospects of the
Indian IT industry, if the views were to crystallise into some
serious policy implementa ons.
Clearly, preparedness rather than panic seems to be the key
for the Indian IT industry. While there will not be a las ng
impact, there is expected some temporary impact. The
Indian IT industry is known for its resilience and its ability to
change. So, let's be ready and more agile instead of trying to
guess the unknown.
The new Trump administra on might reform the H1-B and L-1
visa schemes that allow Indian IT companies to send their
employees to work temporarily in the US. Currently, the H1-B
allows 65,000 temporary workers and 20,000 with advanced
degrees in technology-related fields from American
universi estoworkintheUSeachyear.
STOCK MARKET 38

FIBONACCI
C A L C U L AT I O N
Fibonacci retracement is a very
popular tool among technical traders
and is based on the key numbers
iden fiedbymathema cianLeonardo
Fibonacci in the thirteenth century.
However, Fibonacci's sequence of
numbers is not as important as the
m a t h e m a c a l re l a o n s h i p s ,
expressed as ra os, between the
numbersintheseries.
In technical analysis, Fibonacci
retracement is created by taking two
extreme points (usually a major peak
and trough) on a stock chart and
dividing the ver cal distance by the
key Fibonacci ra os of 23.6%, 38.2%,
50%, 61.8% and 100%. Once these
levels are iden fied, horizontal lines
are drawn and used to iden fy
possiblesupportandresistancelevels.
The Fibonacci sequence of numbers is
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144,
etc.
·Each term in this sequence is simply
the sum of the two preceding terms
(e.g. 1+2=3, 2+3=5) and the
sequence con nues infinitely. ·
O n e o f t h e r e m a r k a b l e
characteris cs of this numerical
sequence is that each number is
approximately 1.618 mes greater
than the preceding number (e.g.
21/13=1.6153,34/21=1.6190).· A
number divided by the next highest
number approximates .6180 (e.g.
13/21=.6190,21/34=.6176).
·A number divided by another two
places higher approximates .3820
(13/34=.382, 21/55=.3818). The
approxima on nears .3820 as the
numbers increase. This is the basis
forthe38.2%retracement.
·Also, note that 1 - .618 = .382. A
number divided by another three
places higher approximates .2360
(13/55=.2363,21/89=.2359).
This common rela onship between
every number in the series is the
founda on of the common ra os used
inretracementstudies.
STOCK MARKET 39

The numbers in the sequence are frequently seen in
nature and in art, represented by spirals and the
golden ra o. The easiest way to calculate the
sequence is by se ng up a table; however, this is
imprac cal if you are looking for, for example, the
100th term in the sequence, in which case the
formulacanbeused.
Formula:
UR = H - ((H-L)×percentage) UE = H + ((H-
L)×percentage)
DR = L + ((H-L)×percentage) DE = L - ((H-
L)×percentage)
Where,
H=HighRange
L=LowRange
UR=UptrendRetracement
UE=UptrendExten on
DR=DowntrendRetracement
DE=DowntrendExten on
Example- calcula on of the Fibonacci retracement's
uptrend and downtrend levels for X, where high
rangeis100andlowrangeis90.
Diﬀerence(H-L)=100-90=10.
Uptrend
Retracements
0% 100 - (10x0) $100
23.6% 100- 10x0.236) $97.64
38.2% 100- 10x0.382) $96.18
50% 100 - (10x0.5) $95
61.8% 100- 10x0.618) $93.82
76.4% 100- 10x0.764) $92.36
100% 100 - (10x1) $90
138.2% 100-10x1.382) $86.18
261.8% 100+(10x2.618) $126.18
200% 100 + (10x2) $120
161.8% 100+10x1.618) $116.18
138.2% 100+(10x1.382 $113.82
100% 100 + (10x1) $110
61.8% 100+(10x0.618) $106.18
Downtrend
138.2% 90 +10x1.382) $103. 82
100% 90 + (10x1) $100
76.4% 90+ (10x0.764) $97.64
61.8% 90+(10x0.618) $96.18
50% 90 + (10x0.5) $95
38.2% 90 + 10x0.382) $93.28
23.6% 90 +10x0.236) $92.36
0% 90 + (10x0) $90
Exten ons
Retracements
Exten ons
61.8% 90-(10x0.618) $83. 82
100% 90 - (10x1) $80
138.2% 90 - (10x1.382) $76.18
161.8% 90+(10x0.618) $73.82
200% 90 - (10x2) $70
261.8% 90 - (10x2.618) $63.82
STOCK MARKET 40

FDIin Defence and Aerospace
India has the third largest armed forces
in the world, with a phenomenal 31.1%
of its annual budget spent on capital
acquisi ons of defence equipment. The
aerospace sector is another key area of
poten al foreign collabora on for India,
having seen remarkable growth over
the last decade in the civil and defence
aerospace ﬁelds. India is currently the
9th largest civil avia on market in the
world, with projec ons seeing India as
the 3rd largest avia on market by the
year 2020. At present, a staggering 60%
of the defence equipment requirement
of the armed forces is met by imports.
Based on available sta s cs, a close ally
and the world's oldest democracy, the
United States of America is known to
be the largest supplier to the Indian
defence sector.
It has been announced that the
alloca on for the defence sector in
India's 2016-17 budget is approximately
Rs. 2244.56 billion (approx. USD 38
billion). Further, it is predicted that India
will invest more than USD 130 billion for
moderniza on of the defence sector
over the next 7 – 8 years. Based on
available sta s cs, the Indian avia on
sector is likely to see investments of USD
12.1 billion during 2012-17, with an
investment of USD 9.3 billion projected
fromtheprivatesectoralone.
In order to facilitate and a ract
substan al investments in these two key
sectors, the year 2016 has seen crucial
and strategic policy announcements by
the Government of India in the form of
the new Defence Procurement Manual
2016, the Na onal Civil Avia on Policy
2016 and liberaliza on of the foreign
direct investment regime in both the
defence and aerospace sectors. These
policy announcements coupled with the
economic poten al makes the Indian
defenceandaerospacesectorstwoof
the most a rac ve areas for future
investment by American (and other
foreign defence and aerospace players)
aswellasbylocalIndiancompanies.
STOCK MARKET 41

Foreign Direct Investment
in the Defence Sector
Shortly a er issuing the DPP 2016, on June 20,
2016, the Government of India substan ally
liberalized the Foreign Direct Investment (FDI)
policyinthedefencesector.
· FDI up to 100% is now permi ed in the
defence sector (subject to the industrial
licensing requirement under the
Industries Development and Regula on
Act,1951).
· FDI up to 49% in the defence sector is now
under the automa c route (i.e., without
the need for any prior foreign investment
approvals). Wherever it is likely to result
inaccesstomoderntechnologyinIndiaor
for other reason to be recorded, FDI
beyond 49% and up to 100% has now
been permi ed under the Government
approvalrouteonacasebycasebasis.
The above FDI limit for the defence sector has also
been made applicable to manufacturing of Small
Arms and Ammuni ons covered under Arms Act,
1959.
FDI in the aerospace sector
The Indian Government supports private investment in
both the civil and defense aerospace sector, with 100%
FDI allowed under the automa c route for most
ac vi es. There are certain investment limits for
domes c and foreign private par cipa on in various
aerospaceac vi es,aslistedbelow:
·100% FDI under the automa c route is permi ed for
Greenﬁeld airport projects. Up to 74% FDI under the
automa c route is permi ed for exis ng airport
projects with up to 100% permi ed under the
Governmentapprovalroute.
·Up to 49% FDI under the automa c route is permi ed
indomes cscheduledpassengerairlineswith100%FDI
permi edforNon-ResidentIndians("NRIs").
in Non-Scheduled Air Transport Service with FDI above
49% and up to 74% permi ed under the Government
approval route. 100% FDI is permi ed for NRIs in this
sector.
·Foreign airlines are also allowed to invest in the capital
of Indian companies opera ng scheduled and non-
scheduled Air Transport Services up to the limit of 49%
of their paid-up capital, subject to Government
approval.
inhelicopterservicesandseaplanes.
in ground handling services. FDI above 49% and up to
74% is permi ed under the Government approval
route.100%FDIispermi edforNRIsinthissector.
in maintenance and repair organiza ons, ﬂying training
ins tutesandtechnicaltrainingins tutes.
The investments are subject to relevant regula ons,
approvals from the avia on regulatory authori es and
securityandothercondi ons.
The recent poky guidelines of the Government of India
on FDI in the defence and aerospace sector is an
encouraging ini a ve in bringing together the
requirements of the services and of industry to work
together in crea ng a defence industrial complex that
Indiacanbeproudof.Theinvestmentsrequiredtomeet
the acquisi on targets are immense and are not within
the capability of the Government or Indian industry to
make these investments at the cost of say, social or
educa on expenditure. Hence, FDI is a necessity. It is a
fallacy to believe that greater security is achieved
through imports from OEMs and disallowing the OEMs
to create a manufacturing base in India. For OEMs to set
up plants and be organic to the na onal defence and
industrial complex the FDI norms must be further
liberalized. One method is to consolidate acquisi on
proposal of the three services and group them towards
providing the economies of scale that make for a viable
business case. The other is to address both rela ve and
absolutecapsinthissector.
STOCK MARKET 42

I PIan index of production
and manufacturing in India
Inde
x o f I n d u s t r i a l
Produc on (IIP) is an index
which helps us understand the
growth of various sectors in the
Indian economy such as mining,
electricity and manufacturing. IIP is
a short term indicator of industrial
growth ll the results from Annual
Survey of Industries (ASI) and
Na onal Accounts Sta s cs (Eg:
GDP)areavailable.
IIP is released by the Central
Sta s cs Oﬃce (CSO) of the
M i n i s t r y o f S t a s c s a n d
ProgrammeImplementa on.
IIP is published monthly, six weeks a er the reference month ends. Data for IIP are
collected by various source agencies under diﬀerent Acts/statutes. The IIP is compiled
onthebasisofdatasourcedfrom16ministries/administra vedepartments.
The base year of the index is given a value of 100. The current base year for the IIP series
in India is 2004-05. So, if the current IIP reads 180, it means that there has been 80%
industrialgrowthcomparedtothebaseyear,ie2004-05.
STOCK MARKET 43

The current IIP basket covers 682
representa veitems.
Mining(61items)–14.16%weight
Manufacturing(620items)–75.53%weight
Electricity(1item)–10.32%weight
IIP also gives us idea about use-based sectors
– another classifica on. Use-based sectors
include Basic Goods, Capital Goods and
IntermediateGoods.
Weighted arithme c mean of quan ty
rela ves with weights being allo ed to
various items in propor on to value added by
manufacture in the base year by using
Laspeyres'formula.
Items covered under IIP
Share of Industrial Sector
in the total GDP of India
The total Industrial sector has only round 27
percent share in the total GDP of India. Over
the last two decades, the share of
manufacturing sector has stagnated at 17 per
cent of GDP – out of a total of 27 per cent for
the industry which includes 10 per cent for
mining,quarrying,electricityandgas.
Share of Manufacturing in the GDP of India –
17%
Share of Mining, quarrying, electricity and gas
intheGDPofIndia–10%.
TotalshareofIndustrialSector=27%
Industry Data
Index of Industrial produc on released a data, according to that
industrialproductinIndiaincreasedby2.7percentyear-on-year
in March 2017, following an upwardly revised 1.9 percent rise in
the previous month and bea ng market expecta ons of a 1.5
percentgain.Outputrosefurtherfor
Mining-9.7percentfrom4.6percentinFebruary,
Electricity-6.2percentfrom1.2percent,
Manufacturing produc on grew at a slower pace 1.2 percent
from1.4percent.
In 2016/17 fiscal year, industrial output expanded by 5 percent.
Factory output had contracted by 0.1% in December a er
growing 5.7% in November, the fastest pace in 13 months,
driven mainly by a posi ve base effect. In an indica on that
consumerdemandisyettopickup,consumergoodsproduc on
contracted by 1%, mainly on account of a sharp fall in consumer
non-durablegoodsproduc on.
Industrial Produc on in India averaged 6.11 percent from 1994
un l 2017, reaching an all me high of 20 percent in November
of 2006 and a record low of -7.20 percent in February of 2009.
The impact of demone za on is not fully captured as IIP
numbers do not factor in unorganized sector data, thus there is
structural inconsistency in the data. Hence we need to look at
the period from April to January where there is a flat growth of
0.6%whichprovidesatruepicture.
STOCK MARKET 44

Factory Add. : MAKES INDIA CLEAN : 54-b Sk-2
Compound Lasudiya Mori Dewas Naka Indore

202-203, Modi Mension,
E B 250 Sch No. 94, Ring Road,
Indore (M.P.)
+91-731-650-0105
info@moneyclassicresearch.com
editor@moneyclassicresearch.com
In-depth
Analysis On Different
segments
MONEY CLASSIC
provides important updates, Latest News, New Trading Strategies
and covers all the above ﬁnancial segments.
MONEY CLASSIC

May month m agazine upload min

Recommended

Recommended

More Related Content

What's hot

What's hot (18)

Similar to May month m agazine upload min

Similar to May month m agazine upload min (20)

More from Money Classic Research

More from Money Classic Research (20)

Recently uploaded

Recently uploaded (20)

May month m agazine upload min