NIFTY SPOT: 6987.05 :- EQUITY RESEARCH LAB

EQUITY TIPS :-

Nifty Future R1: 7146 R2: 7284 R3: 7441

Pivot: 6990 S1: 6852 S2:6695 S3: 6558

CHART INTERPRETATION :-

Nifty spot close at 6987.05 on Monday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal
and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 7008.95 on Monday. The stock market in India fell almost by half a percent on Monday amid a day of wild gyrations. Nifty and Nifty Bank index hit fresh 52- week low as the Budget was being announced. Market participants seemed disappointed with the announcements which saw Nifty breached past its previous low of 6869. Banking stocks plunged after the finance minister proposed a lower-than-expected Rs 25,000 crore to be provided for recapitalisation of public sector banks.

INTRADAY STRATIGY:-

 Sell Nifty Below the 6950 for the tgt of 6900-6850 with the sl of 7010 .

CORPORATE NEWS :-

Finance Minister Arun Jaitley presented his third Budget, wherein; he stressed on Indian economy's resilience amidst the current global economic turmoil. Government has given 3.5% fiscal deficit target Inspite of global and domestic headwinds. This depicts the government is optimistic on the domestic economic condition. Another positive is that the Finance Minister has not hiked the service tax. But GST is being fully ignored here, which is not so impressive. STT on options is to be raised to 0.05% from 0.017%.

Relief to small tax payers: The government raises the ceiling of tax rebate under section 87A from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income up to Rs 5 lakhs. Increase the limit of deduction of rent paid under section 80GG from Rs 24000 per annum to Rs 60000, to provide relief to those who live in rented houses.

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NIFTY SPOT:7029.75 EQUITY RESEARCH LAB

EQUITY TIPS :- 

Nifty Future R1: 7092 R2: 7130 R3: 7173
Pivot: 7049 S1: 7011 S2:6968 S3: 6930

CHART INTERPRETATION :-
Nifty spot close at 7029.55 on Friday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :_

NIFTY FUTURE:-

 Nifty future closed at 7055.15 on Friday. Nifty ended down 6% for February series basis, after the fall of 6.5% in January expiry. Market wide rolls were at its two year low largely because of low rollover in Private Banks, Cement and Real Estate sector.

INTRADAY STRATIGY:-

 Buy Nifty above the 7030 for the tgt of 7080-7130 with the sl of 6960 .

CORPORATE NEWS :-

The survey has expressed concern over approval of GST Bill being elusive so far and the disinvestment programme falling short of targets.

The survey points out that even as real growth has been accelerating, nominal growth has been falling. The survey cautions that if the world economy remains weak, India's growth will face considerable headwinds.

The survey states that the fiscal deficit target of 3.9% of GDP for the year 2015-16 seems achievable. CPI inflation seen around 4.5 to 5 per cent in 2016-17.

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GBPINR OUTLOOK :- EQUITY RESEARCH LAB

EQUITY RESEARCH LAB :-

GBP recovered despite top lawmakers continued to debate the merits of a historic referendum that could enable the UK to leave the European Union in June. Since UK Prime Minister David Cameron reached an agreement with European Commission leaders on Friday that granted Britain special status in the European bloc, the pound has plummeted more than 3% against the dollar. The pound encountered further downward pressure on Wednesday after a Bloomberg survey determined that sterling could drop as low as 1.35 versus the greenback within a week of Britain's departure, a level last seen in 1985. On Wednesday, International Monetary Fund head Christine Lagarde warned that the steady growth achieved by the nation could be threatened in the months leading up to the June 23 vote. It came as HSBC cautioned that a potential Brexit could cause the pound to drop another 20%, creating a sharp rise in imports and spiraling inflation, which could force the Bank of England to raise interest rates. A yes vote in the referendum cold also lead to heightened risks of contagion throughout the euro zone if other top nations decide to follow suit and demand special considerations from the EU. Sterling traders will focus on Thursday's UK GDP data. The second estimate of the fourth quarter GDP is supposed to stay at 0.5% quarter-on-quarter, with the yearly print expected to remain at 1.9%. Technically now GBPINR is getting support at 96.1425 and below same could see a test of 95.8025 level, And resistance is now likely to be seen at 96.64, a move above could see prices testing 96.7975.

GBPINR Daily Market Synopsis :

GBPINR trading range for the day is 95.74-96.74.

GBP recovered despite top lawmakers continued to debate the merits of a historic referendum that could enable the UK to leave the European Union in June.

Prime Minister David Cameron's announcement of a June 23 referendum on Britain's membership in the EU has sparked "Brexit" fears.

The charismatic mayor of London and Conservative Party MP has caused a serious blow to Prime Minister Cameron's effort to keep the UK inside EU.

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NIFTY SPOT: 6970.60 EQUITY RESEARCH LAB

EQUITY TIPS :-

Nifty Future R1: 7011 R2: 7055 R3: 7080

Pivot: 6986 S1: 6943 S2:6917 S3: 6874

CHART INTERPRETATION :-

Nifty spot close at 6970.60 on Thursday . Technical and fundamental of the market is weak nifty break the level of 7000 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 6968.50 on Thursday. The Indian stock market fell for the third straight day after the Rail Budget 2016 failed to boost market sentiments. Selling pressure during F&O expiry saw the Nifty close at fresh 52-week low. The decline was led by the power, realty, capital goods, banking and utilities stocks.

INTRADAY STRATIGY:-

Sell Nifty below the 6960 for the tgt of 6900-6850 with the sl of 7030 .

CORPORATE NEWS :-

Railway Budget: The Union Railway Budget 2016-17 focused on capacity creation in the rail sector, with an increased outlay of about Rs. 1.21 lakh crore, and on completion of the ongoing projects rather than announcing new ones. Extending 2015's measure, passenger fares remain the same. Mr. Suresh Prabhu's announcements included India's first rail auto hub, boost to e-catering, connectivity to North-East and Wi-Fi in railway stations.

Coal India rose 1.7% to Rs 300 after railway minister Suresh Prabhu in the Railway Budget 2016-17, kept freight rates unchanged and also announced review of tariff policy.

Reliance Capital said its board approved the transfer of its commercial finance division into a separate wholly-owned subsidiary.

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USDINR OUTLOOK : EQUITY RESEARCH LAB

EQUITY RESEARCH LAB :- 

Rupee settled flat amid depreciation of currency pair in spot mainly due to selling by exporters. Foreign holdings of rupee-denominated debt are falling at the fastest pace since December as losses in Indian bonds deepen and the currency hovers near a record low. The nation’s sovereign notes have turned into Asia’s worst performers in 2016, from the best in the previous two years, amid concern Prime Minister Narendra Modi’s Feb. 29 budget will show fiscal discipline is slipping away. The rupee has weakened 3.6 percent this year in the region’s worst performance after the South Korean won as a broader emerging-market selloff spurred outflows from Indian stocks. The yield on government notes due January 2026 has climbed 22 basis points since the new 10-year benchmark debt was issued early last month. It was down two basis points at 7.80 percent as of 11 a.m. in Mumbai on Wednesday, according to prices from the Reserve Bank of India’s trading system. The government may seek to borrow an unprecedented 6.8 trillion rupees in the financial year starting April 1. That’s 13 percent higher than this year’s 6 trillion rupees estimate. The deficit target may be raised to 3.7 percent from 3.5 percent. Wholesale prices fell for a 15th straight month in January, declining an annual 0.90 percent, driven down by tumbling oil prices, government data showed. The wholesale fuel prices dropped 9.21 percent from a year ago in January, while prices of manufactured goods declined 1.17 percent year on year. Technically now USDINR is getting support at 68.9175 and below same could see a test of 68.8225 level, And resistance is now likely to be seen at 69.095, a move above could see prices testing 69.1775.

USDINR Daily Market Synopsis :

USDINR trading range for the day is 68.82-69.17.

Rupee settled flat amid depreciation of currency pair in spot mainly due to selling by exporters.

Foreign holdings of rupee-denominated debt are falling at the fastest pace since December as losses in Indian bonds deepen.

The yield on government notes due January 2026 has climbed 22 basis points since the new 10-year benchmark debt was issued early last month.

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NIFTY SPOT: 7018.70 :_ EQUITY RESEARCH LAB

EQUITY TIPS :-
Nifty Future R1: 7100 R2: 7181 R3: 7227

Pivot: 7054 S1: 6972 S2:6926 S3: 6845

CHART INTERPRETATION :-

Nifty spot close at 7018.70 on Wednesday . Technical and fundamental of the market is weak So may be nifty reach the level of 7300 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE: Nifty future closed at 7019.05 on Wednesday. Bears continued to control bulls as the Sensex crashed more than 300 points for second consecutive session on Wednesday. Fall in global markets on oil rout dampened sentiment again. Railway Budget and expiry of February derivative contracts will be closely watched on Thursday.

INTRADAY STRATIGY: Sell Nifty below the 7000 for the tgt of 6950-6900 with the sl of 7070 .

CORPORATE NEWS :-

GMR Infrastructure said that the International Arbitral Tribunal has ruled in favour of the company's subsidiary with regard to the operation of Ibrahim Nasir International Airport.

ITC lost 2.08% to Rs 287.70 with the stock extending recent slide triggered by concerns that the government may hike tax on all tobacco products in the upcoming Union Budget by upto 40%.

Punj Lloyd Ltd has bagged Rs. 308 crore order for the construction of luxury villas in Dubai, the UAE.

Glenmark Pharmaceuticals has received the final nod from the US health regulator for generic oral contraceptive norgestimate ethinyl estradiol tablets.

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EQUITY RESEARCH LAB :- NIFTY SPOT: 7234.55

EQUITY TIPS :-

Nifty Future R1: 7261 R2: 7283 R3: 7308

Pivot: 7236 S1: 7215 S2:7189 S3: 7168

CHART INTERPRETATION :-

Nifty spot close at 7234.55 on Monday . Technical and fundamental of the market is weak So may be nifty reach the level of 7300 Soon, but from that level nifty spot may be show reversal and taste new level of 6900-6750.

Mechanical indicator stochastic RSI also showing bearish trend.

INDEX OUTLOOK :-

NIFTY FUTURE:-

Nifty future closed at 7240.70 on Monday. The market closed higher for fourth consecutive session on Monday, driven by oil & gas, Pharma, metals and select banks stocks. Positive global cues also supported Indian equities.

INTRADAY STRATIGY:-

Buy Nifty above the 7240 for the tgt of 7280-7320 with the sl of 7150 .

CORPORATE NEWS :-

Rashtriya Chemicals and Fertilizers rose 7.8% to Rs 43.40 on BSE on reports the company is likely to receive clearance for setting up a new urea plant in Maharashtra.

Shares of two footwear makers (Liberty shoes & Bata India) rose on BSE on reports the government is considering a package of tax incentives for the labour-intensive leather, gems and jewellery sectors in the forthcoming Union Budget 2016-17.

Rajesh Exports has won Rs. 840-crore export order from the UAE of designer range of gold and diamond-studded jewellery and medallions.

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