The Bank Nifty opened higher on Monday at 13818 up by 27 points or 0.2 %. Bank Nifty jumped 4.7% , on Tuesday the Banking stocks was top gainer. The Reserve Bank of India relaxed norms on tier-I capital relating to the treatment of certain balance-sheet items, including property, which will help PSU Banks unlock capital totaling about Rs. 35,000 crore.

2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Nifty50 started on a cautious note with a flat trade in morning on
Monday on the day of union budget 2016.The Nifty was trading at 7017 down 13 points
or 0.18 per cent. It touched a high of 7,053 and a low of 7,006. The Nifty started flat on
Tuesday but was still trading above its crucial support level of 7,000, weighed down by
losses in oil & gas, consumer durable, capital goods, auto stocks. With India's price-to-
book versus return on equity premium dropping below 40 percent for the first time since
May 2015. In a super rally post Budget also boosted by strong Asian cues, the market is
making mighty gains. The Nifty is up 500 points, Nifty Bank surges more than 1500
points from Budget day lows in two trading session. The Nifty50 reclaimed it crucial
resistance level of 7,300 and was trading near its next crucial level of 7,350. FM Arun
Jaitley pledge to maintain FY16 fiscal deficit target at 3.5 per cent of the GDP. The
positive comes from Wednesday some anticipation of Policy easing by RBI amid positive
global market. The Crucial Support for Nifty is 7370-7220 and the Resistance for Nifty
is 7530-7680.
BANK NIFTY : - The Bank Nifty opened higher on Monday at 13818 up by 27 points
or 0.2 %. Bank Nifty jumped 4.7% , on Tuesday the Banking stocks was top gainer. The
Reserve Bank of India relaxed norms on tier-I capital relating to the treatment of certain
balance-sheet items, including property, which will help PSU Banks unlock capital
totaling about Rs. 35,000 crore. Bank Nifty opened with a terrific 3 per cent gain, which
is really large for an index. We are headed further higher. On Wednesday Once again the
interest rate sensitives like the banking and the auto stocks led the rally on hopes that the
Reserve Bank of India is likely to announce reduction of interest rate.
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY R2 R1 PP S1 S2
7686 7532 7455 7378 224
WEEKLY R2 R1 PP S1 S2
9287 7939 7265 6591 5243
MONTHLY R2 R1 PP S1 S2
8726 7798 7334 6870 5942

3. BANK NIFTY
DAILY R2 R1 PP S1 S2
16579 15689 15244 14799 13909
WEEKLY R2 R1 PP S1 S2
20842 16762 14722 12682 8602
MONTHLY R2 R1 PP S1 S2
19094 16330 14948 13566 10802
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 7196 7428 7692 7964
BANK NIFTY 14422 15254 16222 17109
PARABOLIC SAR DAILY WEEKLY MONTHLY
NIFTY 6885 7588 8092
BANK NIFTY 13652 16485 18540

4. PATTERN FORMATION ( NIFTY )
Detail of Chart -
On the Above given weekly chart of Nifty Applied Bollinger Band along with Parabolic SAR. and the Bollinger
Band is in the spread range it has break the lower band of the Bollinger Band and after breaking the level it has
given the Gap up opening and it is breaking the channel line also and reverse in the bull trend which is indicating
the Bull movement for the Nifty the crucial Support for Nifty is 7370-7300 and the Resistance for Nifty is 7530-
7680 , if the Nifty is able to break the level of 7500 we may witness the level of 7700 for next week.

5. PATTERN FORMATION ( BANK NIFTY )
Details of Chart-
On the Above given weekly chart of Bank Nifty applied Bollinger Band along with Parabolic SAR. and the
Bollinger Band is in the spread range it almost touched the lower band but not break. the Bollinger Band and after
touching the level it is consolidating on Bull side ,Parabolic SAR The creating dot Upside which is the clear signal
towards the consolidation Market For The Bank Nifty , however the Bank Nifty crucial Support is 15000-14800
and the Resistance is 15600-15780 .

6. NSE EQUITY DAILY LEVELS
COMPANY NAME R2 R1 PP S1 S2
ACC EQ 1266 1252 1242 1228 1218
ALBK EQ 54 53 50 48 46
AMBUJACEM EQ 205 204 201 200 197
ASIAN PAINT EQ 903 883 871 851 839
AXISBANK EQ 423 418 414 409 405
BAJAJ-AUTO EQ 2329 2313 2287 2271 2245
BANKBARODA EQ 154 151 147 144 140
BANKINDIA EQ 100 97 94 91 88
BHEL EQ 112 109 106 103 100
BHARTIARTL EQ 339 334 330 325 321
CIPLA EQ 552 545 537 530 522
COALINDIA EQ 334 330 322 318 310
DLF EQ 113 109 107 103 101
DRREDDY EQ 3327 3288 3244 3205 3161
GAIL EQ 352 346 339 333 326
GRASIM EQ 3577 3544 3497 3464 3417
HCLTECH EQ 873 854 842 823 811
HDFC EQ 1140 1126 1116 1102 1092
HDFCBANK EQ 1044 1032 1013 1001 982
HEROMOTOCO EQ 2893 2864 2826 2797 2759
HINDALCO EQ 83 81 79 77 75
HINDUNILVR EQ 863 856 849 842 835
ICICIBANK EQ 226 224 221 219 216
ITC EQ 324 319 317 312 310
INDUSIND EQ 948 933 907 892 866
INFY EQ 1198 1185 1172 1159 1146
JINDALSTEL EQ 67 65 64 62 60
KOTAKBANK EQ 685 677 661 653 637
LT EQ 1237 1215 1201 1179 1165
M&M EQ 1237 1227 1218 1208 1199
MRF EQ 34886 34556 34090 33760 33294
MARUTI EQ 3664 3615 3571 3522 3478
ONGC EQ 206 203 201 198 196
ORIENTBANK EQ 97 94 89 86 81
RCOM EQ 58 57 55 54 52
RELCAPITAL EQ 375 369 364 358 353
RELIANCE EQ 1020 1013 1008 1001 996
RELINFRA EQ 481 476 466 461 451
RPOWER EQ 48 48 47 46 45
SBIN EQ 196 192 185 181 174
SSLT( VEDL) EQ 94 90 87 84 80
SUNPHARMA EQ 883 869 861 847 839
TATAMOTORS EQ 353 348 343 338 333
TATAPOWER EQ 60 60 59 59 58
TATASTEEL EQ 295 291 288 284 281
UNIONBANK EQ 132 129 123 120 114

7. TOP 15 ACHIEVERS // TOP 15 LOOSERS
NEXT WEEK STARS (AS PER TECHNICALANALYSIS PRIDICTION)
NSE CASH
1. NIITTECH NSE CASH - LONG POSITION CAN BE MADE IN NIITTECH ABOVE 498
FOR TGT OF 543 AND SL OF 482.
2. UCOBANK NSE CASH - A CONSOLIDATION BREAKOUT WAS SEEN IN UCOBANK
AND LONG POSITION CAN BE MADE ABOVE 36 FOR TGT AND OF 39.25 AND SL OF
34.85.
3. INOXWIND NSE CASH - LONG POSITION CAN BE MADE ABOVE 310 IN INOXWIND
FOR TGT OF 335 AND SL OF 301 .
4. BALRAMCHIN NSE CASH - LONG POSITION CAN BE MADE IN BALRAMCHIN
ABOVE 92 FOR TGT AND SL OF 101 ,89 RESPECTIVELY.
5. QUICKHEAL NSE CASH - LONG POSITION CAN BE MADE IN QUICKHEAL ABOVE
245 FOR TGT AND SL OF 267 ,236 RESPECTIVELY.
SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
1 UNITED SPIRITS
LTD.
2592.35 2432.65
-6.16 %
2 (a)
P
374.40 353.00
-5.72 %
3 IPCA
LABORATORIE
609.25 575.75
-5.50 %
4 ONGC 209.40 200.35
-4.32 %
5 OIL INDIA LTD. 318.40 309.95
-2.65 %
6 WELSPUN INDIA 872.65 849.75
-2.62 %
7 APOLLO
HOSPITALS
1438.65 1406.40
-2.24 %
8 MPHASIS LTD. 439.65 429.90
-2.22 %
9 MUTHOOT
FINANCE
179.60 176.10
-1.95 %
10 BAJAJ AUTO LTD. 2337.40 2296.80
-1.74 %
11 ASIAN PAINTS
LTD.
881.80 867.25
-1.65 %
12 PIDILITE INDUS. 605.55 596.95
-1.42 %
13 FINOLEX CABLES 237.15 234.45
-1.14 %
14 ARVIND LTD. 269.05 267.95
-0.41 %
15 M&M 1218.60 1216.35 -0.18 %
SR.NO SCRIPT NAME PREV
CLOSE
CMP % CHANGE
1 VEDANTA 70.90 87.40 +23.27 %
2 SBI 156.30 188.30 +20.47 %
3 HINDALCO INDUS. 66.40 79.30 +19.43 %
4 ICICI BANK 187.00 220.10 +17.70 %
5 TATA STEEL 247.90 287.85 +16.12 %
6 BHEL 93.45 107.50 +15.03 %
7 PNB 72.20 83.00 +14.96 %
8 ADANI PORTS 200.15 225.75 +12.79 %
9 TATA MOTORS LTD 306.30 344.15 +12.36 %
10 BANK OF BARODA 133.70 148.80 +11.29 %
11 INDUSIND BANK 821.90 914.00 +11.21 %
12 COAL INDIA LTD 295.25 327.10 +10.79 %
13 HDFC 1022.10 1129.10 +10.47 %
14 YES BANK LTD 690.65 759.20 +9.93 %
15 ITC LTD 287.60 315.20 +9.60 %

8. NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
Public sector banks wrote off over Rs 1.14 lakh crore in last 3 fiscals: Arun Jaitley -
FM Arun Jaitley reportedly said that State-owned banks wrote off over Rs 1.14 lakh crore
debt during the last three financial years."The public sector banks have written off Rs
1,14,181 crore of debt during financial years 2013, 2014 and 2015." Jaitley stated that in
case of technical write-off, the recovery efforts continue as accounts remain the books of
branches.
Union Budget 2016-17 is well aligned with PM’s‘Make in India ’ and ‘Startup India
‘ campaign - We believe the Union Budget 2016-17 is well aligned with Prime
Minister’s ‘Make in India ’ and ‘Startup India ’ campaign. The budget focuses clearly on
growth, development, job creation and creating a better environment for doing business in
India. Besides a particular focus on startups by giving them exemption on their profits for
the first three years is a welcome move. The relaxation in capital gain tax for investment
in Funds of Funds and reducing the time frame to two years from three for availing long
term capital gain tax benefit in the unlisted space will further boost the investment in
startups. Also keeping the ‘Digital India ‘ momentum rolling during the budget,
introduction of electronic auction platform for the private placement market in corporate
bonds is a welcome move.
India Budget credit positive but uncertainties remain: Fitch - India's latest budget for
the 2017 fiscal year contains a number of elements that could be positive from a
sovereign rating perspective over the medium term, says Fitch Ratings. However,
uncertainties regarding implementation of the reform agenda and meeting targeted
revenue growth remain. Most notably, the budget for the fiscal year ending 31 March
2017. underscores the government's continued commitment to gradually broaden the
ambitious reform agenda. Further reforms, such as those pertaining to the financial sector,
agriculture and liberalisation of the FDI regime were announced in the latest budget,
indicating that the government retains its vision of how to structurally improve the
economy and create sustainable growth. Fitch maintains that improving the relatively
weak business environment through structural reforms that would support investment and
real GDP growth is a key factor that would be credit positive.

9. Sustained growth: India Feb Manufacturing PMI at 51.1 - The February
Manufacturing PMI At 51.1 , unchanged from January reading, the seasonally adjusted
Nikkei India Manufacturing Purchasing Managers Index–a composite single-figure
indicator of manufacturing performance–pointed to a second consecutive monthly
improvement in business conditions across the sector. Reflecting sustained growth of new
work, Indian manufacturers raised their production volumes in February. That said, the
rate of expansion eased since January and was marginal overall. Incoming new work
increased for the second straight month and at the quickest rate since last September.
According to survey members, underlying demand continued to improve. New business
from abroad also rose, although February saw a loss of growth momentum.
Manufacturing business conditions in India continued to improve.
Fiscal deficit of 3.5% is very credible step for the financial markets - The Union
Budget 2016, presented today by the Union Finance Minister Mr. Arun Jaitley is a
pragmatic and balanced act in the backdrop of global uncertainty. Maintaining a fiscal
deficit of 3.5% is a very credible step for the financial markets, robust outlays for
infrastructure, agriculture, rural and socio-economic schemes are also welcome moves,
however, one can argue that more could have been provided for recapitalization of banks
which are currently facing issues of mounting NPAs. Mr Jaitley once again relaxed the
FDI policy in several sectors, including insurance and pension and asset reconstruction
companies, to attract more overseas investments. The budget shows a lot of focus on rural
areas and Infrastructure - arguably two important growth drivers for the economy.
Fund allocation of Rs. 2.31 lakh crore to enhance infrastructure base - The Union
Budget 2016-17 is a step forward for the welfare of the people and growth in the country.
For the infrastructure development the government has announced fund allocation of at
Rs. 2.31 lakh crore that would aim to enhance the infrastructure base of the country.
Guideline for renegotiation of PPP contracts is a long standing demand from international
investors and will make the investment environment much more risk neutral. It is a big
step towards overseas funding comfort for PPP in infrastructure. 228% higher grants to
gram Panchayats & urban local bodies in accordance with FFC recommendations will
augment development process significantly in terms of providing basic facilities like
clean healthy water, sanitation, and other basic amenities leading to smart towns of future
. This budget restores balance in Rural Bharat and India Inc. The approach of the Finance
Minister is one of quantum jump rather than tinkering, which would accelerate the

10. development process and put the Indian economy on a sustainable growth trajectory,
while further expediting the “Make in India” programme and ‘Swaach Bharat Mission.
RBI may require tight monetary stance for longer: IMF - International Monetary
Fund reportedly said the central bank may require a “tight monetary stance for longer”.
IMF added that the monetary stance remains appropriately tight for achieving near-term
inflation objectives, says report. Favourable inflation dynamics gave the RBI room to cut
the policy rate, while maintaining positive real interest rates broadly consistent with the
‘glide path ’ towards the medium-term inflation target,” IMF said.
Sluggish economies and china troubles are key risk for Asia pacific Banks : S&P -
Sluggish economic growth in Asia-Pacific in 2016 is a key risk for banks in the region.
Moreover, high-impact stress from China, while a low-probability occurrence, could hurt
many Asia-Pacific banking systems through their direct and indirect exposures. That's
according to a report, titled "Even As China Risk Looms Large, Economic Sluggishness
Is A More Real Challenge For Asia-Pacific Banks In 2016," that Standard & Poor's
Ratings Services published.
Call drops: telcos to challenge Delhi HC order in SC - Telecom industry associations -
Cellular Operators Association of India and Association of Unified Service Providers of
India - will appeal the order in the Supreme Court, “The initial drafts are ready for
submission to the court,” a senior executive with one of the major telcos has been quoted
as saying. “The lawyers are giving them final look overs and deciding on the senior
lawyers that will represent them in the case.
TOP ECONOMY NEWS
The government hiked import tariff value on gold and silver to USD 399 per 10 grams
and USD 495 per kg, respectively, taking cues from global market.
Government said it has identified over 150 projects under its ambitious 'Sagarmala'
initiative that will mobilise more than Rs 4 trillion investment and create 100 million new
jobs.
India is engaging with EU to sort out regulatory issues and strengthen manufacturing

11. practices following the 28-nation block's ban on around 700 pharma products.
The Reserve Bank of India on Tuesday relaxed norms relating to the treatment of certain
balance-sheet items, including property, which will help banks unlock capital totaling
about INR 40,000 crore.
The government proposed to give income tax exemption to foreign companies for storing
and selling oil to local refiners, a move that could spur interest from global oil producers
in leasing the country's strategic petroleum reserve facilities.
Providing clarity on spectrum trading deals, Finance Minister Arun Jaitley said right to
use spectrum and its subsequent transfer is a service which will attract service tax.
The Minister of Civil Aviation P Ashok Gajapathi Raju has said that the Budget 2016-17
has paved the way for developing India as a Maintenance, Repair and Overhauling hub of
Asia. He said that the budget has made provisions for incentivising domestic value
addition to help Make in India. Under this, the following provisions have been made for
the MRO business in India.
Finance Minister Arun Jaitley announcement that the government is considering allowing
market prices for natural gas has not enthused the industry players. The FM said, "A
proposal is under consideration for new discoveries and areas which are yet to commence
production, first, to provide calibrated marketing freedom; and second, to do so at a pre-
determined ceiling price to be discovered on the principle of landed price of alternative
fuels."
Bullish on India, the International Monetary Fund has projected a robust growth rate of
7.3 per cent for the country this fiscal, picking up to 7.5 per cent next year.
The government will soon start work on about Rs 500 billion projects that include
overhauling of British-era bridges and construction of road overbridges and underpasses
at unmanned railway crossings, Union Minister Nitin Gadkari said.
Shaktikanta Das, the secretary for the Department of Economics, addressed the Economic
India Times regarding the new budget during an interview.

12. The National Human Rights Commission has sent notices to Union Ministries of Finance
and Health over reported imposition of excise duty on life-saving drugs making them
costlier. The Commission has taken suo motu cognizance of a media report that the
Centre has removed a custom duty waiver and also imposed excise duty on certain life
saving drugs making them costlier for patients.
Telecom operators moved the Supreme Court against telecom regulator Trai's regulation
for compensation for call drops. The hearing for the matter is expected to come up on
March 4th
.
More than three hundred thousand jewellers are participating in the three-day pan-India
strike to protest against the proposed re-imposition of one percent excise duty on gold and
diamond jewellery.
Opposing the Budget proposal to permit 100% FDI in food processing segment, traders
body CAIT said the move would adversely impact farmers and will result into mass
unemployment.
Government plans to set up four new major ports at Tamil Nadu, Maharashtra, West
Bengal and Andhra Pradesh at an investment of Rs. 320 billion under PPP model.
The current Finance Minister Arun Jaitley seems to continue this trend by planning to
review the recently proposed scheme in his budget speech as per which 60% tax would be
levied on withdrawal from the Employees Provident Fund contributions.
To revive the financial sector in India currently plagued with stressed assets, FM Arun
Jaitley in Union Budget 2016-17 vowed for comprehensive bankruptcy code, which will
be enacted and brought in to deal with illicit deposit taking schemes.
TOP CORPORATE NEWS -
Gammon Infrastructure said it has completed the first tranche of stake sale in nine
projects on approval from National Highways Authority of India and lenders. The
infrastructure firm had announced to sell stakes in 9 projects valued at Rs67.5bn to

13. Brookfield and Core Infra India Fund; a deal that will fetch Rs5.63bn on completion as
well as reduce its debt considerably.
Tata Motors JLR India total sales grew by 54% year-on-year to 277 units compared to
179 units reported in the year-ago period.
Engineering major Larsen and Toubro said its construction arm has bagged orders
worth Rs22.13bn across various business verticals.
Infosys Ltd. announced that it will collaborate with Microsoft Corp., a global leader in
platform and productivity offerings, to deploy advanced analytics solutions to support
healthcare organizations in their digital transformation.
Aurobindo Pharma has received final approval from the US health regulator for generic
version of an intravenous antidote to a pain-killer drug overdose. An antidote is a
substance which can counteract a form of poisoning.
Defence PSU BEML has bagged an order worth Rs9bn for the supply of Metro Coaches
to Kolkata East-West Metro Line. A contract agreement was signed between Kolkata
Metro Rail Corporation and BEML at Kolkata, BEML said.
IDBI Bank Ltd has set an aggressive three-year target of doubling its business and
sharply reducing bad assets, the lender said, a day after the Indian government said it
would consider ceding control of the state-run bank through a share sale.
Pharma major Cadila Healthcare Ltd on Tuesday said it has received final approval
from the United States Food and Drug Administration to market anti-diabetic drugs called
Glyburide and Metformin Hcl tablets USP.(HBL)
The country largest car-maker Maruti Suzuki India today reported a marginal decline in
total sales in February at 1,17,451 units as against 1,18,551 units in the same month last
year.
Tata Motors increased prices of its passenger vehicles by up to Rs 35,000 with
immediate effect to offset the impact of infrastructure cess proposed in the Budget 2016-
17.

14. Mahindra & Mahindra Ltd has sold 44,002 vehicles in February, a 16 per cent rise
from the 38,030 units sold during the same month a year ago.
Piramal Enterprises has acquired US-based healthcare software firm Adaptive Software
for $24.5 million. The payment will be made in a staggered fashion, part of which will be
made only if the company achieves performance targets.
Adani Enterprises, the flagship firm of the Adani Group, has incorporated subsidiary
Korba Clean Coal Pvt Ltd for carrying on the business of coal washing.
Dr Reddy's Laboratories Limited had initiated a voluntary recall of Paricalcitol
capsules of different dosages in the US market in November last year owing to the reports
of breakage of capsules.
JustDial is set to launch a Rs. 1 billion marketing blitz. The company, which recently
launched a seller app, has tried to pivot away from its simple listing model. JustDial has
started transactions on its app and is in the final stages of introducing one-click payment -
like Amazon in the US - effectively entering the e-commerce race.
Dr Reddy's Laboratories is seeking approval from its shareholders for a share buyback
for an aggregate amount not exceeding Rs. 1,569.42 crore.
Tata Steel Ltd has received final environment clearance for its Rs18.8 billion expansion
project to be carried out at Jamshedpur Steel Works in Jharkhand.
State gas utility GAIL India Ltd has again postponed its US$ 7 billion tender for hiring
nine newly-built ships to ferry liquefied natural gas from the US, by one month.
Following the Budget proposal to levy infrastructure cess on automobiles, the country's
largest passenger car maker Maruti Suzuki India said the ex-showroom prices of its
models would go up in the range of Rs1,441 to Rs34,494 across its models.
Tata Power, rolled out its third Tata Power Skill Development Institute , a Centre for
Excellence for Power Plant Skills, at Maithon Power. The institute was inaugurated by
Ashok Sethi, COO and executive director, Tata Power.

15. TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Welcoming Reserve Bank of India easing of rules to allow lenders to bolster capital
ratios, Finance Minister Arun Jaitley today said the government will take all steps and
provide resources to keep public sector banks in good health.
A day after Finance Minister Arun Jaitley said the government may consider bringing
down its stake in state-run IDBI Bank to below 50 per cent, the lender today announced a
"transformational" plan entailing an investment of about Rs 20,000 crore over a three-
year period.
In a move that will reduce Rs 35,000 crore worth of capital requirement burden for public
sector banks, the Reserve Bank of India has revised norms allowing lenders to assign
higher values to hidden assets in their balance sheet.
Central Bank of India said its board has approved raising over Rs. 165 crore by issuing
additional equity shares to insurance giant LIC on preferential basis.
HDFC said it will raise Rs 2,000 crore via non-convertible debentures.
DCB Bank Limited announced that it has acquired an equity stake of 5.81 per cent for
Rs. 9.99 crore in its long standing business partner Annapurna Microfinance Pvt. Ltd.
All India Bank Employees Association representing the employees of public and private
sector banks, today criticised the government's move to privatise IDBI Bank stating
instead of recovering the bad loans.

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