NIFTY FIFTY : - Indian Bench Mark Index Nifty has given breakout of its weekly target 8598 and made a high of 8672 Last week Nifty closed at 8641 after making a low of 8327. The Nifty Index rallied by 3.5% in last week. Bull has shown strong control on Indian Market on Friday,

2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - Indian Bench Mark Index Nifty has given breakout of its weekly target 8598 and made a
high of 8672 Last week Nifty closed at 8641 after making a low of 8327. The Nifty Index rallied by 3.5% in
last week. Bull has shown strong control on Indian Market on Friday, where Nifty rallied 0.45% the equity
benchmark Nifty opened at 8611 and made a low of 8607, the index rallied to make high of 8673 and closed at
8641. Nifty open flat note on Monday down by 6 points at 8635. Speculative movement is expected on UP
election. First phase of election will start from 11th
Feb and results will be declared on 15th
of March. RBI to
announce its Monetary Policy on 8th
Feb, expectation of which will also have a major impact on the markets.
Federal Reserve to announce its Monetary policy, This may also affect the market movement. Market is still in
Positive zone and traders should go long at every dip in the market. Some profit booking can’t be ruled out but
every downfall would be temporary and an opportunity for traders to go long in the market. Nifty is now
headed towards 8900-9000 levels. Market would enter into negative zone, if it closes below 8627 levels. For
now, Market has taken monthly reversal and 9000 levels would achieve in upcoming days for Nifty irrespective
of any temporary downfall. The Significance levels of Nifty is 8628-8565 is Down side and 8825-8962 is Up
side.
BANK NIFTY : - Bank Nifty outperformed the Nifty and rallied 4.72% to make a high of 19795 and closed
at 19708, the Index low was 18722 and opening was at 18762. Bank Nifty also participated in the rally on
Friday and made a high of 19795 and closed at 19708, 235 points up from its previous day’s close of 19473.
ICICI Bank has risen by 4.64%, which has 19% weight-age in the Banking Index. Bank’s credit growth is
likely to remain subdued at 5-6 per cent in the current financial year on weak loan demand and as debt market
continues to offer better priced. Although, Bank Nifty is in Positive momentum and would drive market
towards specified targets. Traders can hold long positions with stoploss of 19726 for Bank Nifty spot levels on
closing basis. The Resistance to the up move is at 20180-20270-20380-20576 levels and Support for Bank
Nifty is at 19890-19760-19650 for next week
Monday, 6 Febuary 2017

3. TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY R2 R1 PP S1 S2
8848 8768 8728 8688 8608
WEEKLY R2 R1 PP S1 S2
9331 8893 8674 8455 8017
MONTHLY R2 R1 PP S1 S2
9331 8893 8674 8455 8017
BANK NIFTY
DAILY R2 R1 PP S1 S2
20715 20319 20121 19923 19527
WEEKLY R2 R1 PP S1 S2
22259 20711 19937 19163 17615
MONTHLY R2 R1 PP S1 S2
22171 20691 19951 19211 17731
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 8464 8365 8356 8295
BANK NIFTY 19146 18868 18779 18434
PARABOLIC SAR DAILY WEEKLY MONTHLY
NIFTY 8432 7989 8084
BANK NIFTY 18860 17726 16970

4. PATTERN FORMATION ( NIFTY )
Detail of Chart - On the Above given Chart of Nifty We can see that Nifty index has been trading in
the Range of 8700-8780 Range in Whole Week. . We also see that the index is building a Bearish
Kind of’ Pattern. The Bullish Pattern had made in the levels of 8350 after which it created a high of
8780. If Trend is Followed, Nifty would trade in Positive zone for next trading session and can touch
the level of 8900. The Bollinger Band is Also giving Signal that if it is not Sustaining the Level of
8340 could move the Nifty toward the 9000 level. The Support for the Nifty is 8600-8650-8700 and
the Resistance to the up move is at 8760-8800 levels.

5. PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -On the Above given daily Chart of BANK NIFTY has Applied the Bollinger Band
along with MACD. Both are the Indicators trading in Positive Territory and it is clearly visible if the
banking Index is able to Sustain the level of 20050 can move the index toward the 20350-20400 level
in near term. From this level we are Expecting the If Bank Nifty is able to Sustain the Level of 20250
may go Further Up side to the level of 20300-20450 Level for Next week or sustaining below 20100
zone, Bank Nifty may further fall towards 19900-19550 area for next week trading Session. The
Support for Bank Nifty is at 20050-19950 and the Resistance to the up move is at 20250- 20500
levels..

6. NSE EQUITY DAILY LEVELS
COMPANY NAME R2 R1 PP S1 S2
ACC EQ 1456 1441 1425 1410 1394
ADANI PORTS EQ 316 310 306 300 296
AMBUJACEM EQ 234 232 230 228 226
ASIAN PAINT EQ 998 992 986 980 974
AXISBANK EQ 499 495 487 483 475
BAJAJ-AUTO EQ 2831 2820 2805 2794 2779
BANKBARODA EQ 194 190 183 179 172
BPCL EQ 710 704 696 690 682
BHEL EQ 144 143 141 140 138
BHARTIARTL EQ 366 360 356 350 346
BOSCH LTD EQ 23169 22779 22557 22167 21945
BHARTI INFRATEL EQ 308 303 299 294 290
CIPLA EQ 630 619 599 588 568
COALINDIA EQ 330 328 324 322 318
CAIRN INDIA LTD EQ 289 283 278 272 267
DRREDDY EQ 3205 3174 3128 3097 3051
GAIL EQ 488 484 477 473 466
GRASIM EQ 969 957 948 936 927
HCLTECH EQ 847 839 828 820 809
HDFC EQ 1419 1407 1396 1384 1373
HDFCBANK EQ 1327 1317 1307 1297 1287
HEROMOTOCO EQ 3249 3231 3216 3198 3183
HINDALCO EQ 199 195 192 188 185
HINDUNILVR EQ 861 855 847 841 833
ICICIBANK EQ 288 285 281 278 274
ITC EQ 278 275 273 270 268
INDUSIND BANK EQ 1339 1323 1297 1281 1255
INFY EQ 951 942 932 923 913
IDEA CELLULAR EQ 115 112 110 107 105
KOTAKBANK EQ 784 774 767 757 750
LT EQ 1506 1494 1475 1463 1444
M&M EQ 1283 1271 1262 1250 1241
MRF EQ 53855 52453 51251 49849 48647
MARUTI SUZUKI EQ 6188 6160 6128 6100 6068
ONGC EQ 204 203 201 200 198
NTPC EQ 174 173 172 171 170
RCOM EQ 43 39 37 33 31
RELCAPITAL EQ 511 500 485 474 459
RELIANCE EQ 1058 1045 1038 1025 1018
RELINFRA EQ 554 545 537 528 520
RPOWER EQ 49 47 46 44 43
SBIN EQ 282 280 276 274 270
SSLT( VEDL) EQ 265 257 253 245 241
SUNPHARMA EQ 655 651 646 642 637
TATAMOTORSDVR EQ 344 338 336 330 328
TCS EQ 2276 2257 2224 2205 2172
TATAMOTORS EQ 536 529 524 517 512
TATAPOWER EQ 83 82 81 80 79
TATASTEEL EQ 485 479 473 467 461
UNIONBANK EQ 180 174 162 156 144
YES BANK LIMITED EQ 1413 1406 1396 1389 1379
ZEEL EQ 523 509 500 486 477

7. TOP 15 ACHIEVERS // TOP 15 LOOSERS
SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
1 BHARTA INFRA 353 299 - 15.27 %
2 TCS 2357 2232 - 5.31 % -
5
3 AUROBINDO 713 684 - 4.05 %
4 TATAMOTORS
LTD.
541 522 - 3.57 % -
3
5 NTPC 177 171 - 3.13 %
6 KOTAK BANK 785 765 - 2.52 % -
2
7 ONGC 204 200 - 1.74 %
8 WIPRO LTD 465 457 - 1.68 % -
1
9 BAJAJ AUTO LTD. 2854 2808 - 1.61 %
10 HCL TECH 844 830 - 1.59 % -
1
11 AMBUJA CEM 232 229 - 1.52 %
12 BHARAT PETRO 704 698 - 0.87 % -
0
13 HUL 855 849 - 0.72 %
14 GAIL LTD. 482 478 - 0.69 % -
0
15 INFOSYS 942 936 - 0.64 %
SR.NO SCRIPT NAME PREV
CLOSE
CMP % CHANGE
1
IDEA CELLULAR
78 109 + 40.32 %
2
BANK OF BARODA
167 186 + 11.18 %
3
BHARTI AIRTEL
323 353 + 9.28 %
4
ITC LTD.
257 273 + 6.08 %
5
DR. REDDY'S LABS
2994 3144 + 5.01 %
6
CIPLA
580 607 + 4.78 %
7
SBI
266 277 + 4.17 %
8
INDUSIND BANK
1253 1303 + 3.98 %
9
AXIS BANK LTD.
472 490 + 3.77 %
10
ICICI BANK
272 281 + 3.51 %
11
MARUTI SUZUKI
5915 6115 + 3.37 %
12
TECH MAHINDRA
467 480 + 2.86 %
13
L&T
1439 1480 + 2.83 %
14
COAL INDIA LTD.
317 326 + 2.64 %
15
BHEL
139 142 + 2.22 %

8. NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )
NSE FUTURE
NSE FUTURE :BUY DISHTV FUTURE ABOVE 89 TGT 92 SL 87.50
NSE FUTURE :BUY UNION BANK FUTURE ABOVE 155 TGT 160 SL 152
NSE FUTURE :BUY MARUTI FUTURE ABOVE 6200 TGT 6300 SL 6150NIFTY
NSE CASH
NSE CASH : BUY GULFPETRO NSE CASH ABOVE 94.60 TGT 103 SL 92.
NSE CASH : BUY QUICKHEAL NSE CASH ABOVE 281 TGT 297 SL 274
NSE CASH : BUY PVR NSE CASH ABOVE 1280 TGT 1355 SL 1250.

9. NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Indian economy to grow 7-7.5 per cent in FY'18: Arvind Panagariya - Niti Aayog
vice-chairman Arvind Panagariya today expressed hope that the economic growth
in the next fiscal year would be in the range of 7-7.5 per cent. He said. By nature, I
am an optimist, so I would remain on the higher side of it. So, if you feel that this
range is too wide, personally, I would narrow it down to 7-7.5 per cent and maybe
on the higher side of it with higher probability," Panagariya said. Niti Aayog vice
chairman's statement assumes significance as it comes after the Economic Survey
today. The pre-budget document pegged India's economic growth for 2017-18 in
the range of 6.75-7.5 per cent.
India one of world's largest recipients of FDI: Economic Survey - India has
become one of the largest recipients of foreign direct investment on account of
reform measures taken by the government, the Economic Survey for 2016-17 said
today. FDI reform measures were implemented, allowing India to become one of
the world's largest recipients of foreign direct investment ... India's FDI has risen
sharply over time," the document, which was tabled in Parliament, said. In the most
recent year, it said FDI is running at an annual rate of USD 75 billion, which is not
far short of the amounts that China was receiving at the height of its growth boom
in the mid-2000s.
Black money: It could be Rs 3 lakh crore or Rs 7.3 lakh crore, says Economic
Survey - The amount of potential black money in the system could be Rs. 3 lakh
crore or Rs 7.3 lakh crore, says the Economic Survey. To estimate amount of black
money, the Survey has used assumptions of soil rates - rate at which notes are
considered to be too damaged to use and have been returned to the central bank - of
other countries. The survey has used assumptions of soil notes of other countries to
arrive at the number. "Using relative soil rates for the $50 and $20 notes and
applying them to comparable Indian high denomination notes, yields an estimate of

10. the amount not used for transactions, and hence potentially black, of about Rs 3
lakh crore," said the Economic Survey in Demonitisation: to Defy or Demonitise.
Rs 3 lakh crore represents 2% of the GDP.
India's fiscal deficit reaches 94% of the budget estimate in December - Fiscal
deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget
target against 87.9 per cent for the same period a year ago. In value terms, the
April-December fiscal deficit stood at Rs 5.01 lakh crore, or 93.9 per cent, of
2016-17 Budget estimates. The fiscal deficit stood at 87.9 per cent in the
corresponding nine months a year ago, as per 2015-16 BE. Fiscal deficit, the gap
between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33
lakh crore, or 3.5 per cent of the GDP, for the fiscal 2016-17.
Economic Survey calls for need to set up government owned ARC to revive
economy - The Economic Survey has called for a need to set up government owned
asset reconstruction company in an attempt resolve the problems of mounting bad
debts and revive the economy. This move, the Survey hints, could also ring fence
PSU bankers from being questioned by investigative agencies on resolution of bad
loans. The Economic Survey for 2016-17 has proposed setting up of Public Sector
Asset Rehabilitation Agency which would "take charge of the largest, most difficult
cases, and make politically tough decisions to reduce debt." The share of bad loans
have touched 11.4% of total loans as on March 2016. "If PSU banks grant large
debt reductions, this could attract the attention of the investigative agencies. But
taking over large companies will be politically difficult, as well," said the survey.
Budget 2017: Tax incentives to corporates to cost Rs 83,492 cr in FY1 - The
government's revenue foregone in the form of incentives to corporates in the
current fiscal is estimated to grow nearly 8.63 per cent to over Rs 83,492 crore. As
per the Budget document 2017-18, the revenue foregone stood at Rs 76,857.70
crore in the 2015-16 fiscal. Revenue foregone on account of deduction of export
profits of units located in SEZs (section 10A and 10AA) is estimated at Rs 20,492
crore in the current fiscal year. Companies take advantage of various concessions to
reduce tax liability, while individuals park their funds in tax savings scheme to

11. reduce tax burden. Revenue foregone on deduction of profits of undertakings
engaged in generation, transmission and distribution of power would be Rs
12,401.04 crore in 2016-17 compared to Rs 11,416 crore in the last fiscal year, the
document said.
Budget 2017 shows resolve for fiscal prudence: Moody's - Acknowledging India's
resolve to stick to fiscal consolidation road map as laid out in the 2017-18 Budget,
Moody's today flagged "hurdles" to the revenue collection target. The rating agency
also expressed concern over the budgeting of lesser capital -- Rs. 10,000 crore for
infusion into public sector banks in 2017-18, which it said is a "credit negative". The
government has budgeted for a lower fiscal deficit at 3.2 per cent of GDP next fiscal
and 3 per cent in 2018-19. "Moody's expects the government to achieve its targets,
based on achievable budget assumptions and demonstrated commitment to fiscal
prudence, but also note that spending commitments are significant and structural
hurdles to rapid increases in revenue collection are apparent," Moody's Investors
Service said.
✍ TOP ECONOMY NEWS
Eight core industries register a growth of 5.6% in December 2016 on the back of
healthy output recorded by refinery products and steel.
Government revised GDP growth for fiscal year 2015/16 to 7.9% from 7.6%
projected earlier. Government will also announce second advance GDP estimates of
FY17 on Feb 28.
India's economy should grow between 6.75% and 7.5% in the financial year
beginning on April 1, as per the Economic Survey.
The Centre’s fiscal deficit touched 94% of the full year target by December 2016
while the revenue deficit breached the Budget estimate in the nine months of the
fiscal.

12. The Central Board of Direct Taxes issued the clarifications on implementation of
GAAR provisions, which is to kick-in from April 1 this year.
According to the data released by the Securities and Exchange Board of India ,
mutual fund managers invested a net sum of Rs. 47.77 billion this month.
Foreign investors have pulled out a little over Rs56bn from the Indian capital
market so far this month, concerned about "lower prospects" of economic growth
compared with other emerging markets.
Country's foreign exchange reserves surged for the second consecutive week by
USD 932.4 million to USD 361 billion in the week to January 20 on account of rise
in foreign currency assets.
Government plans to divest Rs. 110 billion worth of stake in PSU general insurance
companies to meet the steep disinvestment target of Rs. 725 billion next fiscal.
Rules for anti-tax avoidance and place of effective management are "here to stay"
and will be implemented from April 1, the government said emphasising the rules
have been delayed long enough and cannot be deferred any more.
Investment outlay for Bharat Sanchar Nigam Ltd has been reduced to Rs. 43 billion
for 2017-18, compared to the Budget Estimate of Rs. 73.17 billion for the current
fiscal.
RBI allowed NRIs access to the exchange traded currency derivatives market to
hedge currency risk arising out of their investments in India, a move aimed at
providing them additional heding options.

13. ✍ TOP CORPORATE NEWS -
Natco Pharma said a US District Court has ruled in favour of its marketing partner Mylan by
invalidating Israel-based Teva Pharmaceuticals’ patents related to multiple sclerosis drug
Copaxone 40 mg/ml.
Oil and Natural Gas Corp has received the first installment of USD 19 million from
Venezuela's state oil firm Petroleos de Venezuela towards recovering pending dividend.
Rural Electrification Corp has signed loan agreement with Tamil Nadu's power generation
and transmission utilities for financial assistance of Rs. 68.90 billion.
Coal India’s unions are demanding a levy Rs. 20/ton the dry fuel to help the company's
pension fund get enough cash.
Telenor has approached Aircel and Reliance Communication to explore a merger via share
swap, as consolidation grips the Indian airwaves.
Lokesh Machines Limited has signed up with Taiwanese company Tongtai Machine & Tool
Co Ltd to manufacture hi-speed vertical machining centre model EZ5 for the Indian market as
well as for re-export from its new facility at Kallakal near Hyderabad.
After acquiring Reliance Cement Company, Birla Corporation Limited has re-christened
Reliance Perfect Cement brand as MP Birla Perfect Cement and launched it in the fast-growing
central India market.
NLC India Limited is planning to buy back shares worth Rs. 14.91 billion from the existing
shareholders of the company.
Lokesh Machines Ltd is set to enter into an agreement with EMCO GmbH of Austria for the
manufacture and sale of the latter's machines in India and export supplies.
Fitch Ratings has assigned NTPC Limited EUR500 million, 2.75% notes due in 2027, a final
rating of ‘BBB—’, which denotes investment grade.
Jain Irrigation Systems Limited will raise $ 200 million through issuance of dollar bonds

14. — for the first time — to overseas investors, primarily to retire debt.
Aditya Birla Group plans to invest Rs. 70 billion in the next two years in Andhra Pradesh on
expanding existing businesses.
The Competition Commission has approved Schneider Electric's proposed purchase of the
remaining 26% in power backup solutions provider Luminous.
Larsen & Toubro Limited has bagged orders worth Rs 12.86 billion for construction jobs.
UK Steel workers' unions have given their backing to Tata Steel Limited UK's pension plan in a
bid to rescue thousands of jobs and allow a merger with ThyssenKrupp to go ahead.
Maruti Suzuki India Limited said that it will increase prices of products ranging from Rs
1,500 to Rs 8,014 (ex-showroom, Delhi) across models.
Hindustan Petroleum Corporation Limited and GAIL India Ltd signed a pact with
Andhra Government for setting up a Rs 400 billion petrochemical plant in the state.
Balrampur Chini Mills Limited signed an agreement with Ganesh Explosives to sell its
entire 53.96% stake in its subsidiary Indo Gulf Industries Ltd.
Granules India Limited has announced its move to invest USD20mn in its wholly-owned
subsidiary Granules Pharmaceuticals Inc.
Dishman Pharmaceuticals and Chemicals Ltd has received an Establishment Inspection
Report from the US health regulator on closure of inspection of its Bavla facility in Gujarat.
NLC India Limited is installing 500 MW solar power plants for Rs. 21.70 billion at various
places in Tamil Nadu. It said the power plants are expected to generate 83 crore unit of power per
annum.
NHPC Limited board of directors may consider a proposal for buyback of shares.
IL&FS Engineering and Construction Company Ltd has received Letter of Intent for
two Rural Electrification Works under Deen Dayal Upadhyay Gram Jyoti Yojana, and Integrated
Power Development Works of West Bengal State Electricity Distribution Company Limited,

15. Kolkata worth Rs. 5.16 billion.
Ashok Leyland announced the opening of its new assembly plant in Bangladesh capital
Dhaka.
Kwality Limited new unit in Haryana, has started commercial production.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
State Bank of India, the country’s biggest lender, is seeking to increase its stake in its two
credit-card joint ventures with diversified American conglomerate General Electric, as
demonetisation increasingly drives consumers to spend online or through cards.
IDBI Bank officials internally quarrelled over the approach to sanction fresh loans to
Kingfisher Airlines as a bunch of executives insisted on collateral before signing off on the dotted
line while the top management overruled the juniors and instead went with Kingfisher Airlines
brand as a guarantee which did not even have legal backing, the CBI alleges.
Banks are taking it on their chin from many sides - the government, the regulator, customers and
even from competitors in the market. While many are grumbling that there is no credit demand,
banks find the market is slowly slipping from under their hands thanks to them being
uncompetitive, which is partly of their own making and partly due to regulatory obstacles.
The Economic Survey for the year 2017 warned banks against thwarting efforts of
interoperability of the payments systems as it believes that the success of digitalisation and
financial inclusion depends on the payment modes being interoperable across financial
institutions.
Bank credit growth is likely to remain subdued at 5-6 per cent in the current financial year on
weak loan demand and as debt market continues to offer better priced, according to a report.
Deposit growth is likely to ease further to 12 per cent by end-March 2017, with banks cutting
deposit rates and easing cash availability in the system, from 14.7 per cent as on January 6, said
the report by rating agency Icra.
The Reserve Bank of India has stepped in to prevent loss making banks from defaulting on bonds
that were raised to boost their capital adequacy ratio- the minimum capital that banks keep as a
cushion against defaults on loans.

16. Banks will get an option to exit the unsold portion of the bad loans that are held as security
receipts on their books. This follows an announcement by Arun Jaitley in the Union Budget that
allows listing of SR at the stock exchanges. When banks sell bad loans to asset reconstruction
companies, a part of the loan is sold for cash and for remaining part of bad loans, the ARCs issue
SR which are similar to bonds which would be redeemed over five to seven years. Thus in a way,
the bad loans sold to ARCs continue to be in the books of banks in form on investments. As of
now, banks received 15% of loan sold in cash and balance as SRs.
Public sector Indian Bank has revised its rates for foreign currency interest rates on term deposits
with immediate effect. As per the revised interest rate for FCNR deposits, in USD terms, the
revised interest rate has been fixed at 2.26 per cent for deposits of one year and above but less
than two years from the existing 2.20 per cent.
Government owned banks will have to tap the equities market and quickly sell non-core assets
since the union budget have allocated just about Rs. 10,000 crore capital for banks what are
struggling with huge pile up of bad loans.

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