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Trading Forex is not as easy as many people will tell you. A simple instance will help you to understand the complex nature of Forex trading. In stock market traders find it difficult to keep track of individual companies then it is quite easily understandable how difficult it will be to keep track of the economy of a country. In Forex trading you have to have to do exactly that. You have to keep track of the economy of the countries whose currencies you are trading. So it is evident that you need to learn Forex trading as it is all together a different ball game. Here we are presenting some of the most prominent reasons that stress on the effectiveness of learning Forex trading.

 Get STOCK TIPS/COMMODITY TIPS/FOREX TIPS LIVE TRIAL FROM HERE

Learning the basics of Forex – If you are new to world of Forex trading you need to start learning from the scratch. You need to begin with the basics of Forex trading unless you can not have a primary idea of Forex trading. You need to know the process of Forex trading – how to read the Forex quotes, how to execute the trades and how profit and loss is determined at the Forex market and so on. Without this preliminary idea of the Forex trading you can not start investing in the Forex trading.

Deciding of Forex trading plan – When you are trading at the Forex market you need to have a Forex trading strategy and for deciding that trading plan you need to have comprehensive idea of the Forex trading process and the current market trends. Without a well defined trading plan you will have no clue what to do at the Forex market. An effective learning process will help you to have an idea of the Forex trading and that is very much necessary for deciding on your trading plan.

Getting accustomed with Forex Trading – While you learn Forex trading you will get gradually accustomed with the Forex trading. This is will help you start with Forex trading and eventually become an experienced trader. It is true that until you start investing in the Forex market and have a first hand experience of the Forex market, you can not have complete conception of what Forex trading actually the learning process will help you to initially get accustomed with the Forex trading.

Analyzing Forex market trends – Once you have the basic idea of the Forex market, you should start learning about the advanced techniques of Forex trading. This will include the fundamental as well as technical analysis of the global currency market. To predict the future trends in the Forex market it is important that you have the skills to fundamentally and technically analyze the present market trends and these two techniques required specialized knowledge. So it is essential that you learn these methods properly to flawlessly predict the future of the currency pairs and make profit from Forex trading.

Using Forex robots – Forex robot is a vital part of Forex trading. These robots are basically software programs that are designed to keep track of the market trends and execute trades independently. You need to learn the techniques to customize the trading indicators on the basis of which the robot will do the trading on your behalf.

All said and done you must always remember that you can not learn everything in one day of in a short span of time. To learn Forex trading you have to spend considerable amount of time and have patience to learn the complete process. In fact a good trader is always a good leaner and the learning process is never ending and that is why as you keep trading, you get more knowledge of Forex trading. 

As a trader you must always remember that learning of the Forex trading is just the beginning and until and unless you apply your knowledge in the Forex trading, all your learning is a waste. So in every step that you take in your Forex market journey should be judged with the knowledge and experience that you have gained from the learning process. That will be the success of all the effort that you have put in while learning Forex trading.

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Events to watch this week

• Hike anticipated at March FOMC meeting
• Global growth uptick continues
• Major indices set records
• House of Lords seeks Brexit bill amendments

The Week ahead:

• The People’s Bank of China meets to set interest rates on Monday, 6 March
• Q4 eurozone gross domestic product is released on Tuesday, 7 March
• Japan releases Q4 GDP figures on Wednesday, 8 March
• China reports its trade balance on Wednesday, 8 March
• The European Central Bank holds a rate-setting meeting on Thursday, 9 March
• The US February employment report is released on Friday, 10 March

For the week,Global equities extended gains this week, and strong global manufacturing data suggested that economic momentum continues to improve. Yields on the 10-year US Treasury note rose strongly — to 2.49% from 2.32% — as investors moved to price in an interest rate increase from the US Federal Reserve. Despite growing economic optimism, oil prices fell this week on increased US inventories. West Texas Intermediate crude fell $1 per barrel to $53.00 this week while global Brent fell to $55.50 from $56.50. Volatility remains subdued, with the Chicago Board Options Exchange Volatility Index at 11.50.

NIFTY- 8,897.55
CRUDE OIL-Rs 3,557barrel
GOLD-Rs 29,020 gram
Rs/$-Rs 66.81

MARKET ROUND UP

After logging gains in prior five weeks, key benchmark indices took a breather in the week ended Friday, 3 March 2017 as investors resorted to profit booking. Key indices edged lower in four out of five trading sessions during the week.

In the week ended Friday, 3 March 2017, the Sensex fell 60.52 or 0.21% to settle at 28,832.45. The Nifty 50 index fell 41.95 points or 0.47% to settle at 8,897.55. The BSE Mid-Cap index fell 123.07 points or 0.91% to settle at 13,409.04. The BSE Small-Cap index gained 32.39 points or 0.24% to settle at 13,620.17.

Trading for first day of the week began on a subdued note as the key benchmark indices dropped on Monday, 27 February 2017 due to selling pressure in bank stocks. The barometer index, the S&P BSE Sensex, fell 80.09 points or 0.28% to settle 28,812.88, its lowest closing level since 21 February 2017.

Macro Economic Front:

On the Economic Front,India's dominant services industry returned to growth in February for the first time in four months, a private business survey showed on Friday, 3 March 2017. The Nikkei Services Purchasing Managers' Index, or PMI, in India came in at 50.3 in February of 2017, up from 48.7 in January. It was the first expansion after three months contraction but the weakest since October 2016 as output increased while employment has shown only one noteworthy monthly increase in the past one-and-a-half years. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

The GDP growth is estimated to be 7% in Q3 December 2016, as per the second advance estimates of national income from Central Statistics Office (CSO) under Ministry of Statistics and Programme Implementation. The growth in GDP during 2016-2017 is estimated at 7.1% as compared to the growth rate of 7.9% in 2015-2016.

Major Action &Announcement:

Maruti Suzuki India fell 2.37% to Rs 5,891.80. The company said its total sales rose 10.9% to 1.30 lakh units in February 2017 over February 2016. The announcement was made during market hours on Wednesday, 1 March 2017. The company's total domestic sales rose 11.7% to 1.20 lakh units in February 2017 over February 2016. Exports grew by 2.2% to 9,545 units in February 2017 over February 2016.

Tata Motors fell 0.41% to Rs 460.10. The company's total sales rose 2% to 47,573 vehicles in February 2017 over February 2016. The company's domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016. The announcement was made after market hours on Wednesday, 1 March 2017.

Mahindra & Mahindra (M&M) rose 0.84%. The company reported a 11% growth in its total tractor sales to 15,007 units in February 2017 over February 2016. The company's domestic tractor sales grew by 9% to 13,834 units in February 2017 over February 2016. Exports surged 35% to 1,173 units in February 2017 over February 2016. M&M's total auto sales declined 3% to 42,714 units in February 2017 over February 2016. Total domestic sales fell 2% to 40,414 units in February 2017 over February 2016. Exports dropped 13% to 2,300 units in February 2017 over February 2016. The company announced the monthly sales volume data during market hours on Wednesday, 1 March 2017.

Lupin rose 1.23%. The company announced during trading hours on Thursday, 2 March 2017, the launch of generic Prstiq (Desvenlafaxine Succinate) Extended-Release Tablets, 50 mg and 100 mg having received an approval from the United States Food and Drug Administration (FDA) earlier. Lupin'sDesvenlafaxine Succinate Extended-Release Tablets, 50 mg and 100 mg is the AB rated generic equivalent of Wyeth Pharmaceuticals' Pristiq Tablets. It is indicated for the treatment of major depressive disorder (MDD). Pristiq Tablets had annual US sales of approximately $859.9 million (IMS MAT December 2016).

State-run Coal India lost 2.09%. The company said that production of the company and its subsidiary companies was 96% of targeted production at 54.30 million tonnes in February 2017. Offtake was 94% of target at 47.73 million tonnes in February 2017. The announcement was made after market hours on Wednesday, 1 March 2017.

Wipro rose 1.41%. The company announced that it has completed the sale of its EcoEnergy division on 1 March 2017. Wipro said that the impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the Q4 March 2017 and year ending 31 March 2017 (FY 2017). The announcement was made before market hours on Thursday, 2 March 2017.

Global Front:

In Overseas Markets,the Labor Department said on Thursday, 2 February 2017 that initial jobless claims fell to their lowest level in over 40 years in the week ended 25 February 2017, potentially adding to rate hike expectations.

US President Donald Trump promised to provide tax cuts for companies and middle-class citizens, invest $1 trillion in infrastructure, and increase defence spending in his maiden speech to Congress on Wednesday, 1 March 2017. Trump made no suggestions on how he would pay for his plans.

Global Economic News:

Market prices in March Fed move
The week began with markets pricing in about a 50% chance of a hike in the federal funds rate at the Federal Open Market Committee meeting this month but ended with markets almost fully pricing in a quarter-percent hike. Hawkish comments from the troika of Fed chair Janet Yellen, Vice Chair Stanley Fischer and New York Fed president William Dudley helped seal expectations of a March hike.

Fresh records for major indices
More records were broken this week as the reflation rally extended further. The Dow Jones Industrial Average closed above 21,000 for the first time on Wednesday, while the S&P 500 Index brushed 2,400. London’s FTSE 100 also closed at a record high on Wednesday, boosted in part by a weak pound.

Brexit process hits speed bump
Despite suffering a defeat in the House of Lords over the Brexit bill, UK prime minister Theresa May insists her timetable for triggering Article 50 will not be delayed. The Lords voted to amend the Brexit bill in order to force the government to guarantee the rights of citizens of the European Union living in the UK. The bill will now be referred back to the House of Commons, where May is expected push to reject the amendment.

Earnings season draws to a close
With 98% of companies reporting for the fourth quarter of 2016, the earnings growth rate for the S&P 500 is 4.9%. According to FactSet Research, the fourth quarter will mark the first time the index has seen year-over-year growth in earnings for two consecutive quarters since Q4 2014 and Q1 2015. Sales growth for Q4 is running at a 4.9% rate, according to FactSet. The 12-month forward P/E ratio is now 17.9%, which is above the 5- and 10-year average.

GLOBAL CORPORATE NEWS

Economic optimism continues to build
A sizable uptick in the closely watched ISM manufacturing purchasing managers’ index and a jump to a 15-year high in the Conference Board’s consumer confidence measure were two standout data points in the United States this week, keeping the reflation trade firmly on track. China’s PMI showed strength as well, though the eurozone’s and United Kingdom’s PMIs were less robust. However, economic sentiment in the eurozone reached a six-year high. Also notable in the eurozone this week was an energy-driven rise in inflation to near the European Central Bank’s 2% target. This is the first time consumer price inflation has reached the target in four years.

NEW 52-WEEK HIGH BSE (A):

NEW 52-WEEK LOWS BSE (ALL):

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

Eyes will be set on the certain US economic data releases are:

Monday (06 Mar)
Factory Orders

Tuesday (07 Mar)
Consumer Credit

Wednesday (08 Mar)
Wholesale Trade

Thursday (09 Mar)
Jobless Claims & Natural Gas Report

Friday (10 Mar)
Employment Situation

Fundamental Pick of the week:

Buy GlaxoSmithKline Consumer Healthcare Ltd For Target Rs.5,910.

Strategy:

GlaxoSmithKline Consumer Healthcare closed 0.6% up in trade today at Rs5,108 vs. 0.5% fall in benchmark Nifty.

GSK Consumer is the market leader in health food drinks industry with market share of 70%. With its flagship brands Horlicks and Boost, it has successfully fend off competition from likes of Heinz and Mondelez.

The company would substantially benefit from lower tax rates in the GST regime as its current tax structure is quite high compared to other players.

Based on expected EPS of Rs181, the stock trades at attractive valuation of 28.2x FY18E earnings. We have a BUY rating on the stock with price target of Rs5,910.

Indian Market Outlook:

NIFTY OUTLOOK:

Supported by the firm global cues and better than expected GDP numbers, Nifty made a new 52-week high but finally settled with cut of nearly half a percent.

Markets are still overbought and we might see further consolidation in index ahead. However, the overall trend is bullish and hence we sug-gest traders to use any decline during this phase to accumulate quality stocks from the preferred list of sectors.

NIFTY FMCG OUTLOOK

* Nifty FMCG Index witnessed marginal profit taking in the passing week and closed slightly lower in line with the benchmark.

* Technically, it is wisely placed above its important moving averages (50,100 & 200 EMA) on daily chart and looks upbeat for an up move .

* Traders can consider fresh buying in select counters like   JUBLFOOD, HINDUNILVR, BRITANNIA from this space.

NIFTY MEDIA OUTLOOK

* Nifty Media Index also settled marginally lower after consolidating in a narrow range.

* It tested its important support zone placed around 2945 level and bounced back thereafter.

* Considering its overall chart formation, we expect strong surge in the near fu-ture.

* ZEEL, SUNTV are some of the better placed stocks in this space.

TECHNICAL VIEW:

Nifty Spot View

Nifty traded with volatile sentiments in last session due to profit booking at higher levels from traders. Next important support seen at 8800 level.Nifty likely to trade with sideways sentiments in thatsessio on profit booking at higher levels from traders. Nifty likely to trade with sideways sentiments and 8850 at lower side will be the trend deciding level. Higher side resistance seen at 8970 levels. However, some buying support at lower levels may limit the downside in NIFTY. Applying momentum Indicator RSI for 14-day period trading at level of 63.97 indicates that it is trading near over bought zone and may face resistance at higher levels.

Conclusion:

Now Bulls need a close above 9000 for a move towards 9050/9120/9200, Bears will get active below 8850 for a move towards 8800/8720.

Nifty did high of 8892 and low of 8850 so traded in the range, but in process broke the channel on downside. Break of 8850 shorts can be taken as fall can be seen till 8773 and bullish above 8900 for a move towards 8960/9000. Breakout above 8995 for a move towards 9083/9150.

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Get SURE FOREX SIGNALS FOR SURE PROFIT. Monthly 2500+ PIPS PROFIT ASSURED

Forex trading is the undoubtedly the most prospective investment medium. With more than USD 5 trillion turnover every day, it is the largest financial market in the world. Though the currency market is more stable than any other financial market like the stock market, the movement of the currencies for a few points can end up giving you huge returns. This is simply because of high leverage of Forex trading and nil transaction cost. Moreover, Forex trading offers you highest form of liquidity that is not possible in any other investment in the World. So while converting your profit to cash, you do not loose any money as transaction cost.

All said and done, but you can not miss the fact that the Forex market is the most risky investment as well. In fact according to the analysis of the Forex brokers large number of investors experience loss at the Forex market for so many different reasons. So if you want to ensure that you make good and consistent profit at the stock market, you have to learn the tricks of the trade. You must have a comprehensive knowledge of Forex trading. Here we are presenting an overview of the Forex trading that will help you to learn the methods of Forex market trading.

One of the striking features of the Forex market is its geographic disparity. As the Forex trading is operated from almost all the significant financial capitals of the world, the Global Forex market is open round the clock and day and night except the weekends. So it is the time zone difference that lets you trade at any time of the day and night. You must be wondering then how to keep watch on the Forex trading through all these long trading hours. The most effective solution for this is the automated Forex trading systems. These are computer software also known as the Forex robots that can keep watch on the global Forex market and also execute the trades on your behalf as per the pre conditions that are set by you. In fact these systems are capable of the saving your investment by selling and closing the position when the market trend is on the reverse. The first thing that you need to learn for Forex trading is to use the automated system and take maximum advantage of these specifically designed software for Forex trading.

The next thing that you need to learn in Forex trading is how to read the Forex quotes. In Forex trading the trades are done by buying or selling one currency with another currency. That means Forex trading is done on a pair of currency. One of the currency is the pair is said to be the base currency and the other is the trade currency. For trading the trade currency is used for buying or selling the base currency on which the profit and loss is determined. In the Forex quote the base currency is always considered as one unit and the price of that one unit of base currency is mentioned in respect of the trade currency. For example if you are trading for Euro and USD where Euro is the base currency. The quote will be presented like EURUSD = 1.0538, where you will get 1 Euro for 1.0538 USD. (All Figures are just an example)

Like any other financial market the key for success at the Forex market is to buy one currency at a lower rate and selling the currency at a higher rate. You can also do short selling of the currency. That means you can sell a currency at a higher rate and then buy the currency to close the position at lower rate. But this is a simple equation of Forex trading and the trickiest part of the trading is to identify the trend of the market and to rightly speculate when a certain currency will go up in the market. For that you have to learn the methods of fundamental and technical analysis that are used to speculate the trend of the Forex market and movement of individual currencies.

These are some of the vital aspects of Forex trading and once you have an in depth understanding of the Forex trading, surely you can expect to get rich from Forex trading.

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Margin-to-equity ratio in stock market;  Now the fact also should be brought into contemplation that you try to find specialized assessment about hours of daylight trade; you will get your hands on negative observations more readily than consoling psychiatric therapy. All the same the high-quality inference does make understandable perfect in case of spontaneous purchasing conclusions. To get ahead of through the verge into sensible day buy and sell in the market of any place in the world, it is to a great extent obligatory that you are outfitted with the full familiarity of the turf above and not here from in proof of payment of rationalized with the up to date market shifts so that you prefer at least probable stocks. Basically then can day businesses verify sensible. Given the simple and straightforward pre condition that you are in a profession in a place that is poles apart and are not capable to scrutinize the trading area significantly improved, it is meaningful that you should not decide on day businesses. There are new businesses opportunities as well in the share market everywhere, which do not call for necessitating you around the clock scrutiny.

What is the Margin-to-equity Ratio in Stock Market?

You will have the same opinion that the stock market will prove to be immensely encouraging for a wee number of investors in spite of the actuality that for others it maybe will not be the acceptable course of action. There are cases in point of a lot of investors who have become penniless. 'A little knowledge is a dangerous thing' is a very common and vastly true wise saying. Putting on next to nothing information and gambling into the stock market perceiving others producing immense wealth in all earthly probability will provide evidence of being hazardous for you. You could bring to an end bringing up the rear to your richly deserved wealth and habitual failures will very soon persuade you to make your way out from the online stock market panorama. Engineering and acquiring awareness by putting money in will certainly spin the bazaar in your support - a currency making podium.

Design your ambitions

You must also come on familiar terms with the basic necessity that you have got to design your ambitions and audition the diverse spending options in the bazaar. At first straighten out on petite investments with the intention that even though you put on or incur fatalities, you will in next to no time gain knowledge of the ins and outs of the deal. Just the once you are contented, you can settle on volume funds. You in all probability will decide on each and every one of the three dealing preferences, namely day business, interim trading and enduring investment. At one fell swoop proviso your foundation of source of revenue is exclusively the stock market; you will be able to broaden the horizons of your venture ambitions to a larger extent, for instance speculation in mutual funds, money futures, and accompanying venture goods. You can accordingly keep up equilibrium of your ventures and failures given the simple and straight forward pre condition that a few will by a nose cause inconvenience to you. Seeking singular venture alternatives will further more accede to you knowing which one goes well with you the most excellent and you can in that case put in money in volume in the understood opportunity.

Acts as our primary source of income

We see that the stock market provides us with a good opportunity to make a lot of money and use the stock market as our primary source of income. There are in addition the Margin-to-equity Ratios yet the fact also should be brought into consideration that Margin-to-equity Ratios are everywhere, in every trade. So what you need to do before you decide to use the stock market as your solitary or primary source of income is to gain sufficient first hand experience of the market. Put in money in small amounts – never go high-volume at the first shot. People on the odd occasion succeed that way. Just the once you have earned a suitable level of experience, you can take the jump – Yet the fact also should be brought into thoughtfulness that still with watchfulness. So now we have understood the ways of the stock market. We can therefore safely state that with all its pros and cons, we have assisted you in margin-to-equity ratio in stock market.

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This Video Will Show How Stock Market Traders, Commodity Traders and Forex Traders can actually earn good income by trading.

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Get 90% Accurate Live FOREX TRADING SIGNALS FOR 2500 Plus PIPS PROFIT IN A MONTH

Currency trading is a very enticing sector for each and every investor. Everyone can easily see loads and loads of alluring advertisements which are circulated in the various online platforms, television channels and business publications which vividly explain the huge amount of wealth which is present in this market. Currency trading is deemed as a steadily profitable investment by experts in comparison to the investment which deal with buying and selling stock options.

For small traders currency trading which is also known as forex trading is a potential death trap. People are often drawn into it by clever marketers who offer very enticing baits but once trapped these investors are caught in a vicious loss making trade cycle. The promises are never fulfilled and they never receive any profits. Due to all these reasons investors most often conclude that the currency trading market is a scam for all the investors.Here we discuss some of the facts about the forex markets and in doing so bust some common myths about the market –

·                     It is one of the easiest ways to make money – It is well known fact that money in reality does not grow on any tree. The Forex market is definitely not for those who want to become rich overnight. But this does not mean money is not made easily in the forex market. Lots of investors from various countries have been able to make a huge living out of the currency market by generating steady profits. Thus if one is careful and takes all the correct decisions he can easily make money from the forex market.

·                     Forex market gives huge returns without giving any sort of effort – There is a hard and fast rule regarding all the different types of investment which are made in h market in general. Investors who enter the market without any knowledge and understanding of the financial markets tend to fail in all their efforts to gain profits. For making profits each investor should try to gain a proper learning about the market of the trading of currencies. Thus forex trading can never lead to guaranteed profits without any knowledge of the business.

·                     Those brokers are the best who provide maximum leverage on the investor’s margin – Leverage in terms of financial trading signifies the use of the several financial instruments like the profit margin, which can cause an increase in the return from any investment. In simple terms it symbolizes that when an investor uses leverage from any broker, it means that the investor is using borrowed funds and not owned funds. In the forex business the more amounts of borrowed funds you use the less is the probability of profit margins.Thus to remain in the business one should always try and maintain the investments with the lowest amount of leverage or better still no leverage.

·                     RBI has provisions for forex investments with foreign brokers – In the modern times large number of brokers and investment websites claim that they provide the best and highest profit margins in money investment in the forex market. But all such claims are false and should be careful about all these websites as well as trading portals. RBI has clearly stated in its recent circular which is numbered as No. 53 which was dated on April 7th, 2011 as well as the circular No. 46 which was dated on September 17th, 2013 that any sort of international forex trading which done by using any portals which are present online and done with respect to the margin payments which are done by the customers for the purpose of forex trading done directly or Indirectly by the use of their credit cards or even net banking is strictly banned for all Indian residents. According to the Foreign Exchange Management Act of 1999 it is a punishable offence to transfer money to an account used for Forex trading.

But this does not signify that Indian individuals cannot invest in the various currency markets which are present across the world. Through various exchanges which are present in India like the Metropolitan Stock Exchange,Bombay Stock Exchange and also the National Stock Exchange one can easily get the opportunity to invest in the currency market. Also there is a varied list of all the registered brokers which are capable to deal with the currency market and they are all registered under the Securities and Exchange Board of India and present on its website.

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Events to watch this week

• US equities set more records

• Fed signals possible March rate hike

• Trump supports US border tax

• Le Pen gains in French polls

• Greece open to reforms

The Week ahead:

• US president Trump is scheduled to speak to Congress on Tuesday, 28 February

• French GDP data are scheduled to be released on Tuesday, 28 February

• Preliminary US fourth-quarter GDP data are scheduled to be released on Tuesday, 28 February

• PMI Manufacturing Index data are released on Wednesday, 1 March

• US initial jobless claims figures are released on Thursday, 2 March

• US Federal Reserve chair Yellen is scheduled to speak on Friday, 3 March

For the week,US equities continued setting records this week — including 10 record daily closing highs in a row for the Dow Jones Industrial Average as of 23 February. Investors remain optimistic that US president Donald Trump will cut taxes, reduce regulation and implement a sweeping infrastructure spending program. The S&P 500 Index is up 5.3% year to date and has gained over 21% over the past 12 months. Market volatility increased slightly this week, but continued to remain relatively low. The yield on the 10-year US Treasury bond fell 2.9% this week to 2.34%, as of early Friday morning. Oil prices remained relatively unchanged this week.

NIFTY- 8,939.50
CRUDE OIL-Rs 3,617barrel
GOLD-Rs 29,640 gram
Rs/$-Rs 66.83

MARKET ROUND UP 
Key benchmark indices clocked decent gains in a truncated week ended Thursday, 23 February 2017, as record hitting streak on Wall Street helped the upmove. A surge in index heavyweight Reliance Industries (RIL) and positive global stocks during the week also supported gains on the bourses. 
The Sensex moved above the psychological 29,000 mark in intraday trade on Thursday, 23 February 2017. The market gained in all the four sessions of the week. Indian stock markets remain shut on Friday, 24 February 2017 on account of Mahashivratri.
The Sensex gained 424.22 points or 1.49% to settle at 28,892.97. The Nifty 50 index rose 117.80 points or 1.33% to end at 8,939.50. 
The BSE Mid-Cap index rose 0.81%. The BSE Small-Cap index gained 0.89%. Both these indices underperformed the Sensex.

Macro Economic Front: 
On the Economic Front,International Monetary Fund (IMF) said on 22 February 2017 that India's overall outlook remains positive, although growth will slow temporarily as a result of disruptions to consumption and business activity from the recent withdrawal of high-denomination banknotes from circulation. But the nation's expansion will pick up again as economic reforms kick in, said the IMF in its latest assessment. IMF reduced is growth forecasts to 6.6% for fiscal year 2016-17 and to 7.2% in 2017-18. 
Challenges remain, however, and there is little scope for complacency. A key concern is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy.

Major Action &Announcement:
TCS gained 3.05%. TCS announced on 20 February 2017, that the board of directors of the company at a meeting held on 20 February 2017, approved a proposal to buyback up to 5.61 crore shares of the company for an aggregate amount not exceeding Rs 16000 crore, being 2.85% of the total paid up equity share capital, at Rs 2,850 per share.

Tata Motors rose 2.05%. Tata Motors said it is desirous of offering the sixth series of its rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 500 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 2 March 2017. The announcement was made during trading hours on Thursday, 23 February 2017.

Maruti Suzuki India rose 0.72%. The company announced that its smart hybrid vehicles Ciaz SHVS and Ertiga SHVS have crossed cumulative sales of 1 lakh units in February 2017. This marks the success of Maruti Suzuki's efforts in hybrid and electric mobility in India. The announcement was made on 20 February 2017. 

BhartiAirtel declined 0.93%. The company announced on 23 February 2017, that it has entered into a definitive agreement with Telenor South Asia Investments (Telenor) to acquire Telenor (India) Communications (Telenor India). The acquisition is subject to requisite regulatory approvals. As part of the agreement, Airtel will acquire Telenor India's running operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth. 

Shares of Reliance Industries (RIL) surged 9.97%. RIL announced at the fag end of market hours on Tuesday, 21 February 2017, that its subsidiary Reliance JioInfocomm (RJIL) breached the 100 million customer mark in 170 days. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides.

NTPC fell 2.54%. The stock was the top loser from the Sensex pack. The company said that the 115 megawatts (MW) out of 260 MW of Bhadla Solar Power Project of NTPC has been commissioned. With this, the installed capacity of NTPC's solar power projects has touched 475 MW. The total installed capacity of NTPC on standalone basis has become 41177 MW and that of NTPC group has become 48143 MW. The announcement was made on 22 February 2017. 

Global Front: 
In Overseas Markets,Asian markets made a mixed closing on Thursday, following their US counterparts after the Federal Open Market Committee released the minutes of its two-day meeting ended Feb. 1, where members believed it might be appropriate to lift U.S. interest-rates “fairly soon.”  Chinese stocks slipped, with realty and construction-related stocks leading declines, after reports emerged that China's financial regulators are working on new rules to rein in asset management risks. Meanwhile, European stocks ping-ponged between small gains and losses, as investors sifted through earnings reports and assessed the mixed tone on U.S. interest rates from the Federal Reserve.

Global Economic News:

Fed signals potential March rate hike 
In minutes released this week, US Federal Reserve officials signaled the potential for a rate hike at its next policy meeting in March. Citing potentially increased spending and reduced taxation under the Trump administration, the minutes suggest that the Fed may act more aggressively to keep a lid on inflation. The central bank increased the federal funds rate to between 0.5% and 0.75% in December and indicated then the potential for three quarter-percentage-point increases this year. Markets are expecting two rate hikes in 2017, and while odds of an increase have risen for March, they still remain low, at around 22%, according to data from CME.

Frexit fears rise on Le Pen's gains 
While French presidential candidates François Fillon and Emmanuel Macron still hold commanding leads over Marine Le Pen in the upcoming elections, the right wing candidate has narrowed the gap, according to French polls released this week. Ms. Le Pen favors dropping out of the euro currency, and the markets aren't taking any chances. In reaction to the polls, the spread on French five-year government bonds rose to its highest level since the eurozone debt crisis. Trading volume for credit default swaps on French government debt also surged as spreads spiked. Credit default swaps are held by some investors for insurance against debt defaults. Rising CDS spread levels indicate that investors believe the chance of a default has increased.

Greece open to reforms
Greece agreed to legislate pension and other structural reforms this week, generating some optimism that negotiations on its bailout terms would resume after months of gridlock. Yields on Greek government debt fell to their lowest level in a month, although much work remains to be done.

GLOBAL CORPORATE NEWS

Trump voices support for border tax
Donald Trump said this week that he supports a form of the proposed "border adjustment tax" (BAT), a tax on all imports. Trump suggested that such a tax would entice companies to relocate manufacturing operations to the United States, which would create more US jobs. Retail stocks have been pummeled in recent months over speculation that a border tax would be implemented. The retail industry imports most goods it sells in the US. J.C. Penney announced this week that it would close more than 100 stores, and rivals Kohl's and Macy's announced they would lease some of their retail space to other retailers in an effort to generate more revenue from real estate assets. Under the proposal, US export income would be tax free, which could benefit some energy companies, such as crude oil exporters.

NEW 52-WEEK HIGH BSE (A):

NEW 52-WEEK LOWS BSE (A):

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

Eyes will be set on the certain US economic data releases are:
Monday (27 Feb)
Pending Home Sales Index 
Tuesday (28 Feb)
Consumer Confidence
Wednesday (01 Mar)
PMI Manufacturing Index
Thursday (02 Mar)
Jobless Claims 
Friday (03 Mar)
PMI Services Index

Fundamental Pick of the week:
Derivative Ideas 
NIFTY futures added around 14.6% of open interest as long positions. It has rolled 49% into next series so far. Put writing was seen at 8900 and call writing was seen at 9000 strike. We suggest doing bull spread as per levels mentioned below.

Strategy:
BUY NIFTY 8900 CE AT 35 & SELL 9000 CE AT 6, NET PREMIUM PAID 29, SL 14, TARGET 80.

Indian Market Outlook:
Nifty futures traded with firm sentiments last week tracking bearish USD/INR futures prices and continue buying support from traders. It likely to trade with firm sentiments in current week as well on buying support at lower levels from traders. It witnessed strong buying support from traders and managed to hold the gains at higher levels at end of the week which indicates continuation of firm sentiments in current week as well. If it managed to sustain above 8900 level than it may witness firm sentiments till 9130 levels. Breaking of 8850 level with good volume will make Nifty bearish and down side may come due to selling pressure below that level. Overall trend for Nifty futures likely to remain positive for the week and may witness some profit booking at higher levels which may limit the upside in Nifty. Technically, It took good support of Fibonacci retracement levels which indicates continuation of firm sentiments. 8995 will be the Crucial level to watch out for in current week. Rise in volume and fall in open interest with firm price movement indicates resistance at higher levels in current week. 

TECHNICAL VIEW:

Nifty Spot View 
Nifty traded with firm sentiments in last session due to buying support from traders. Next important support seen at 8870 level. Nifty likely to trade with sideways sentiments and 8910 at lower side will be the trend deciding level for intraday session. Higher side resistance seen at 8990 levels. However, some profit booking at higher levels may limit the upside in NIFTY. Applying momentum Indicator RSI for 14-day period trading at level of 71.63 indicates that it is trading in over bought zone and may face resistance at higher levels.

Bank Nifty Future View 
Bank Nifty traded with firm sentiments due to buying support from traders. It likely to trade with sideways sentiments in Intraday session on profit booking at higher levels from traders. Bank Nifty has next resistance at 21150 levels while 20700 is the strong support for the same. If Bank Nifty trade firm then it may test next resistance of 21150 levels. Technically, Rise in volume and fall in open interest with volatile price movement indicates continuation of volatile sentiments in intraday session.

Conclusion:

High made was 8960 near our target of 8981 and closed above 8910 suggesting another attempt will be made to break the range of 8981 for next move towards 9050/9120. As the market moves higher traders need to tighter there SL, As per gann analysis only on close below 8827 the current uptrend will end, Till 8827 is held bulls will make merry and move towards the life highs of 9120. Trailing position is the best way to ride such strong trending market and not speculating when market will form a top. High made was 8982 near the gann angle resistance level, as we have been discussing in process doing our target of 8982 above 8910. Bulls should protect the level of 8847 now for the current trend to continue. Fresh long above 8990 for move towards 9060/9120.Bearish only below 8840 for a move towards 8757/8700/8672.

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What are stock markets? The stock market is a vital and fascinating source of income for both companies and share holders. The stock market makes it possible for almost anybody to buy stakes at a company that they know and have faith in. People who have been trading in company shares have seen it become a habit and then in many circumstances, their regular source of income. It is a very lucrative business as well for the share holder once he gets accustomed to the rules of the trade. His hard-earned money will grow in multiples if he is perseverance and enthusiastic enough. The stock market provides a lucrative opportunity for investors to rapidly grow their money. There is hardly any better way around to making quick cash! But all at once, the stock market is also very unpredictable and, in certain instances, it is a high-risk proposition. The following tips will prove to be handy if you wish to make the stock market your source of income. If you are an investor by profession, you would most certainly choose the stock market over any other form of investment. The returns in the stock market are much higher and quicker than anything else, and given the qualification that you are able to dedicate your full neutral time to the stock market, there is no better option available. Form a personal strategy that you can believe in earnestly. Just the once you have shaped your individual strategy of functioning, bond dutifully with it. Let us have a look at online trading and the Stock Market.

What is online trading?

Online stock trading is simply the modus operandi by which we can transact in stocks through the use of the internet. It offers a self-directed, broker-free advance to stock trading. It is an ultra-fast procedure where deals can be completed in a matter of a few seconds, without being at the mercy of the stock agent. Totally anyone with an online trading account, an internet connection and some ready money to do without can become involved in online stock trading. Online stock trading is more and more becoming massively accepted with the heaps of stock traders and greenhorns equally. All the same it, like any other form of trading, is not without its risks.

Online stock market business education groundwork

Online stock trading literally exposes you to the elements of the stock market. It can be very laborious to trade in competition online if you do not have adequate awareness of the stock market.  Albeit you have adequate comprehension and know-how of the stock market and are impulsive to take that first step, you ought to as well have a satisfactorily speedy and absolutely dependable internet connection. There are quite lots of above-board cases of populace having their internet connection snapping without apprehension when they are making online business deals. A large number of these inopportune public have had lasting hitches recuperating their money missing owing to a wobbly internet service. It is decisive to have a steadfast internet connection. Also remember that you will most indubitably run into mechanical matters like a listless operation, profound internet passage, or a dreadful server. Hence the brightest thing to do here is to have a backup organized. Unless you have the knowledge of different concepts like sensex, BSE…etc you can never progress and make good profits in the market.

Think and then invest

Understand that the stock market is one of the riskiest propositions. Start by investing money that you can do without. Albeit you are fast, do not augment your ventures drastically. For quick-fix traders, precariousness can be either a fortunate thing or a nuisance, conditional on how watchful and quick-acting they are. A triumphant dynamic dealer always looks to the fore to get the most out of on this explosive nature. A rapid climb in stock prices will signify that the on the go trader will without more ado be able to sell his stocks at a higher price and make a profit. A stock market is never conventional! Thus, we are able to find out about online trading and the Stock Market.

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Stop Worrying. Let Expert guide you and help you in EARNING PROFIT.FILL SHARE MARKET TRIAL FORM TO EARN

You have got to be on familiar terms with the fact that no enormous accomplishment has been consummated devoid of research. A first round research is vital to reap luscious profits from any business, not only the stock market. A form of investment market is a kind of a fair-play market. A type of investment market is an open market for the trading of company-owned form of investment as well as their derivatives at a consented price. The stock market is vast and intimidating. It is a huge cash-flow jungle with all the big and accomplished players just knowing what to hunt for and getting their right kill! One wrong step and you can fall at the jaws of failure. However you need not fail, need you? Especially if you are armed to the teeth with extensive research outcomes and what to do’s and what not to do’s! It is a huge and all-inclusive network of quite a lot of thousands of economic transactions. It dos not have a physical existence as an entity. However at the same time the form of investments are listed on a physically existing entity known as the form of investment exchange. All stock exchanges also deal in form of investments traded confidentially. So research is the important thing in stock market

Non liquid securities

This basically points to a definite value. In addition to all this, the large proportion of derivatives nullify each other which only means that a derivative wager on the possibility of an event occurring or not occurring is pitted against a comparable lacking in originality ante on the event not in point of fact happening. A lot of such comparatively non liquid securities are valued as per the specific model in place of an actual price in the share market. The stock markets are lucrative, are a lot more safe and sound than stocks, and for the most part a great deal more logical thing to do for investors than painstakingly investing in the market. The stock markets actually reroute your hard earned money through numerous channels and a more than enough blend of sundry ventures, in conjunction with stocks, bonds, intercontinental ventures, in addition to new securities that in cooperation bring about an enormously extra defensive fortification than the share bazaar perhaps will for ever warranty.

The stock market provides a very good chance for form of investment investors to quickly make money as well as grow their made money. There is practically no better way around to making such easy money! Yet the reality remains that at the same time, the stock market is also very unpredictable and very precarious.

How to take home a first-class turnover from your investments?

Fulfill scores of research and research-related studies. A dead ringer for what they say spend a lot more time to perfect your tools of the trade and one hour to use the tools, in the same way you are wealthy and wise if you devote the maximum of your time to research rather than action. Construct a graphic representation of the major companies. Cram their form of investment market history. Zero in on companies that have the best record of form of investment market winnings – there are many of them out there! Moreover be on the look out for the silent ones. Some of them may not have come under the public eye yet the reality remains that have been doing rather well for themselves in the form of investment market. Make the most of on such opportunities if you happen to come across some. You need on no account be hard line in the form of investment market. Being hard line may give you big gains upon a period of time, yet the reality remains that at the same time, they also bring in big risks! Thus, for all intents and purposes, have patience and play it safe. Your income may not be something to brag about yet the reality remains that it will at least be consistent and you will have that all important gain in the haggle serenity. Peacefulness is the leading ingredient or conclusion in the stock market; and it is one of the toughest things to get your hands on.

This was a small session on how research is the important thing in stock market.

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Events to watch this week

• Upbeat US data fuel growth, inflation hopes
• Yellen: Risky to wait too long to raise rates
• Mnuchin confirmed as US Treasury Secretary
• Greek bailout deadline in doubt

The Week ahead:

• US markets are closed for President's Day on Monday, 20 February
• China reports trade data on Tuesday, 21 February
• Flash purchasing managers’ indices are released globally on Tuesday, 21 February
• Eurozone consumer price data is reported on Wednesday, 22 February
• UK Q4 gross domestic product are reported on Wednesday, 22 February
• US existing home sales data are released on Wednesday, 22 February

For the week,Global equities continued their advance on increasing evidence of improved US economic growth and rebounding inflation. Major US indices again notched record highs during the week, though bond yields held steady. Despite the strong data, the yield on the 10-year US Treasury note fell to 2.415% from 2.43% a week ago. Oil prices dipped, with West Texas Intermediate crude at $53.50 a barrel versus $54.10 last week and global Brent falling to $55.60 from $57.10. Volatility, as measured by the Chicago Board Options Exchange Volatility Index (VIX), edged up to 12 from 10.9.

NIFTY- 8,821.70
CRUDE OIL-Rs 3,607barrel
GOLD-Rs 29,355 gram
Rs/$-Rs 67.02

MARKET ROUND UP

Indian equity benchmark indices viz. the S&P BSE Sensex and the Nifty 50 index registered small gains in the week ended Friday, 17 February 2017 amid mixed global cues. However, the overall sentiment in the broader market was subdued during the week.

The Sensex rose 134.50 points or 0.47% to settle at 28,468.75. The Nifty advanced 28.15 points or 0.32% to settle at 8,821.70. The BSE Mid-Cap index fell 0.33% and the BSE Small-Cap index declined 0.98%. Both these indices underperformed the Sensex.

Key benchmark indices eked out small gains in what was a volatile first trading day of the week on Monday, 13 February 2017. The Sensex had risen 17.37 points or 0.06% to settle at 28,351.62, its highest closing level since 6 February 2017.

Key benchmark indices settled with small declines in what was a lacklustre session of trade on Tuesday, 14 February 2017. The Sensex fell 12.31 points or 0.04% to settle at 28,339.31, its lowest closing level since 10 February 2017.

Macro Economic Front:

On the Economic Front,India's industrial production declined 0.4% in December 2016 over December 2015, snapping strong 5.7% growth recorded in November 2016. The manufacturing sector's production declined 2% in December 2016, contributing to the overall decline in industrial production.

The all-India general consumer price index (CPI) inflation dipped to 3.17% in January 2017 compared with 3.41% in December 2016. The data was announced after market hours on Monday, 13 February 2017.

The monthly inflation data based on wholesale price index (WPI) rose 5.25% (provisional) for the month of January 2017 as compared to 3.39% (provisional) for December 2016 and minus 1.07% during January 2016. The data was announced during market hours on Tuesday, 14 February 2017.

India's exports rose 4.32% to $22.11 billion in January 2017 and imports rose 10.7% to $31.95 billion. The data was announced after market hours on Wednesday, 15 February 2017. The monthly trade deficit narrowed slightly to $9.8 billion.

Major Action &Announcement:

Tata Motors tumbled 11.13%. The company's consolidated net profit fell 96.22% to Rs 111.57 crore on 4.31% decline in total income to Rs 68708.48 crore in Q3 December 2016 over Q3 December 2015. The result was announced during market hours on Tuesday, 14 February 2017.

Sun Pharmaceutical Industries (Sun Pharma) rose 3.11%. The company's consolidated net profit fell 4.72% to Rs 1471.82 crore on 10.13% rise in total income to Rs 8034.81 crore in Q3 December 2016 over Q3 December 2015. The result was announced during market hours on Tuesday, 14 February 2017.

Dr Reddy's Laboratories (DRL) declined 2.01%. The company said it received an unfavorable ruling in a US court regarding a patent infringement case. The announcement was made during market hours on Thursday, 16 February 2017.

DRL announced that the United States District Court for the District of New Jersey issued its opinion regarding Helsinn Healthcare's patent infringement claims against the company's proposed palonosetron product, pursuant to a paper NDA under section 505(b)(2) of the Food, Drug and Cosmetic Act.

Cipla advanced 2.29%. The company announced that it has launched adult Hepatitis B vaccine in India. Under a co-exclusive agreement with Serum Institute of India (SII), Cipla will market the vaccine for adults while SII will market it for adults and children. The announcement was made during trading hours on Friday, 17 February 2017.

Adani Ports and Special Economic Zone (APSEZ) fell 4.37%. The company's consolidated net profit rose 25.82% to Rs 849.75 crore on 29.48% rise in total income to Rs 2429.56 crore in Q3 December 2016 over Q3 December 2015. The result was announced during market hours on Tuesday, 14 February 2017.

TCS wasup 0.48%. The company said that its board will meet on 20 February 2017 to consider buyback of equity shares. The announcement was made after trading hours on Wednesday, 15 February 2017.

Tata Steel was up 0.04%. The company said that the National Trade Union Steel Coordinating Committee (Steel Committee) in the UK announced that its members have voted to support the company's proposals, including the proposal to close the pension scheme in the UK to future accrual. The announcement was made after trading hours on Wednesday, 15 February 2017.

Global Front:

In Overseas Markets,Japan's economy slowed again in the final quarter of 2016, as feeble spending by consumers took the shine off a pickup in exports and business investment. Japan's real gross domestic product grew 1% on an annualized basis in the three months through December for the fourth consecutive quarter of expansion, the longest stretch of gains since 2013, according to Cabinet Office data released on Monday, 13 February 2017.

China's producer price inflation picked up more than expected in January to near six-year highs. China consumer inflation also rose more than expected, nearing a three-year high as fuel and food prices jumped, data showed on Tuesday, 14 February 2017.

In US, retail sales rose 0.4% in January, a faster pace than had been expected, while the consumer price index rose 0.6% in the month, the largest amount in four years, though this was largely due to a rebound in the price of gasoline.

Global Economic News:

US economy shows signs of strength
After a run of strong economic data from the United States, hopes intensified this week that the reflationary period underway since late 2016 would prove more durable than the four prior upturns during the current business cycle, which began in early 2009. January retail sales were a major bright spot, rising a better-than-expected 0.4%, while December sales were revised up 1% versus a previously reported 0.6% advance. Firmer consumer prices at both the headline and core level, buoyant manufacturing output and upbeat regional Fed manufacturing surveys—particularly the Philadelphia Fed's manufacturing index — which soared to a 33-year high — added to investor optimism. 

Fed’s Yellen reiterates case for rate hikes
After a string of strong economic reports, markets expect the US Federal Reserve to hike rates in the first half of 2017, perhaps as soon as next month’s meeting of the Fed’s rate-setting committee. In congressional testimony this week, Chair Janet Yellen said that it would be risky to wait too long to raise interest rates and that the committee would consider hiking rates in coming meetings. Yellen holds press conferences once per quarter, and the two rate hikes this cycle have both come at meetings that were followed by press briefings. Her next press conference is scheduled for 15 March, with another on 14 June.

Mnuchin confirmed as Treasury pick
US president Donald Trump’s pick for treasury secretary, Steven Mnuchin, was confirmed by the US Senate this week and sworn into office shortly thereafter. Tax reform is expected to be Mnuchin's early focus with Trump unveiling his tax reform package in the next few weeks.

Greek bailout lenders at loggerheads
The International Monetary Fund and eurozone finance ministers remain at odds over the direction of the Greek bailout process. The two sides hope to iron out a deal early next week to allow the IMF to release €7 billion in aid to Greece ahead of European elections, which kick off next month. The creditors hope to keep Greece from becoming a campaign issue in elections in the Netherlands in March and in France in April and May for fear that the matter could further fuel an anti-European Union populist backlash. IMF and Eurogroup finance ministers have been unable to reach agreement on the IMF’s proposal to grant Greece some level of debt relief. Without that relief, the fund says, Greece’s debt is unsustainable.

GLOBAL CORPORATE NEWS

Comings and goings in Washington
It was an eventful week for appointees of President Trump. In addition to Mnuchin taking the helm at Treasury, the president accepted the resignation of his national security advisor, General Michael Flynn. Trump scrambled to nominate R. Alexander Acosta as labor secretary after fast food executive Andrew F. Puzder withdrew his nomination.

S&P 500 earnings on pace for back-to-back gains
With 75% of S&P 500 companies having reported (as of 15 February), aggregate earnings are up 5.2% year over year while revenues have grown 4.3%. According to Hedgeye Risk Management, if these trends hold up, the fourth quarter of 2016 will be the first time in two years that companies will have generated positive earnings for two straight quarters.

NEW 52-WEEK HIGH BSE (A):

NEW 52-WEEK LOWS BSE (A):

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

Eyes will be set on the certain US economic data releases are:

Monday (20 Feb)
US Holiday Market Closed

Tuesday (21 Feb)
PMI Manufacturing Index

Wednesday (22 Feb)
Existing Home Sales

Thursday (23 Feb)
Jobless Claims

Friday (24 Feb)
Consumer Sentiment

Fundamental Pick of the week:

Derivative Ideas Glenmark Pharmaceuticals Ltd For Target Rs. 980.00

After trading with bearish bias for over a week, GLENMARK posted decent recovery from day’s low on 16th February and settled near day’s high, indicating buyer’s interest at current levels. Early signs of recovery are also visible on the daily chart. Considering all, we recommend buying this stock.

Recommendation

Buy  Glenmark Pharmaceuticals Limited   @ 926-930 Stoploss 905 Target  980

Indian Market Outlook:

Markets rebounded swiftly today and gained over half a percent. The upbeat trade deficit figure aided a firm start which was supported by select index majors. Mostly sectoral indices traded in line with the benchmark and ended higher. Besides, recovery in the midcap and smallcap space added to the positivity. We feel the consolidation is not over yet and its range has slightly broadened now. A decisive move above 8850 in Nifty will trigger further up move else range bound bias will continue. Amidst all, stocks are witnessing moves on both sides so traders should focus more on trade management and maintain a balanced portfolio. .

*The Union Cabinet approved the merger of State Bank of India and its 5 associate banks - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT). The listed associate banks closed up 3-4.5%.

*Bharat Forge announced signing an agreement for a Joint Venture with Israel Aerospace Industries (IAI). Kalyani Strategic Systems (KSSL) and IAI signed the MoU during the Aero-India exhibition at Bangalore. Shares of Bharat Forge closed up 6%.

*Cadila Healthcare announced that the USFDA has inspected the company's Moraiya plant and did not issue observation (483) which meant that the plant met the manufacturing norms successfully. Shares closed up by 19.8%.

TECHNICAL VIEW:

Conclusion:

The NIFTY seems to be locked in a tussle spacing 8827-8715, that’s around a 115 points. Index may now look for an immediate technical trigger to break this deadlock. Some correction towards 8640-8580 levels may set in, if prices break the low @ 8715 mark. In the medium term, the SUPPORT zone now shifts upwards to 8537, the 3 week LOW; followed by 8330, that corresponds to 5 week’s LOW. On the other hand, If 8850 gets breached convincingly, upside to the July 2016 HIGH @ 8935 would be in contention.