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Indian benchmarks snap two days winning streak; Nifty ends below 9,150 mark-Research report-Sharetipsinfo

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Indian equity markets commenced the week on a sluggish note as the benchmarks showcased an unenthusiastic performance on Monday and settled with moderate cuts of over quarter percent. Marketmen turned cautious over the Centre's future reform policies in view of appointment of Yogi Adityanath as the Chief Minister of the country's most populous state. The MP from Gorakhpur, who lacks administrative experience, was unanimously elected the BJP legislature party leader at a meeting of the newly elected MLAs, in a move that took many by surprise. Sentiments remained subdued with a report that the all India Consumer Sentiments Index, measured by the BSE and CMIE, has hit a one-year low at 92.25 compared to 99.65 a year ago. This comes even as the wholesale price index based inflation jumped up to a 39-month high of 6.55%. However, losses remained capped with the report that the Cabinet approved four bills to implement a planned Goods and Services Tax (GST) bills, paving the way for Prime Minister NarendraModi to implement the landmark tax reform from July. The four bills are likely to be taken up by Parliament this week and a separate state GST bill in state assemblies later. Some support also came with the report that the implementation of GST is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points. Further, India has begun the process of dismantling some of the last remaining controls in the foreign direct investment (FDI) framework. The department of economic affairs (DEA) has floated a draft Cabinet note for inter-ministerial consultation to scrap the Foreign Investment Promotion Board (FIPB), in line with a plan announced by finance minister ArunJaitley in his February 1 budget.

The benchmark got off to a sedate opening tracking the dismal leads prevailing in Asian markets following Wall Street's declines and the G20's decision to drop a pledge to avoid trade protectionism. Thereafter, the indices traded in tight range below neutral line with moderate losses for most part of the session. Finally, the NSE Nifty, took a cut of over quarter percent to settle below the crucial 9,150 support level, while BSE Sensex slipped by over hundred points and closed above the psychological 29,500 mark.

 

Global Market Overview 

Asian markets made a mixed closing on Monday

Asian equity markets ended mixed on Monday following Wall Street's decline and the G20's decision to drop a pledge to avoid trade protectionism, while the Federal Reserve's less hawkish-thanexpected comments continued to weigh on the dollar. Chinese stocks bucked the weak trend to close higher, as gains among energy stocks offset declines in the realty sector. China's property market picked pace in February despite the government announcing a raft of measures to temper speculative demand, data showed on Saturday. Japanese markets were closed for the Vernal Equinox holiday.

 

US markets closed mostly lower on Monday

The US markets closed mostly lower on Monday, as investors were reluctant to make big bets without major economic or corporate news. Chicago Fed President Charles Evans said that the Federal Reserve is on track to raise interest rates twice more this year after a policy tightening last week and it could be more or less aggressive depending on inflation and fiscal policies from the Trump administration. The public comments from Evans were among the first since the US central bank lifted its policy rate a notch last week, as expected. It also forecast roughly two more moves in 2017 in a nod to low unemployment and some inflation pressures. Evans, who is a voter on the Fed’s policy-setting committee this year and supported last week’s move, also echoed a comment from Fed Chair Janet Yellen that suggested the central bank could try to push inflation, now at 1.7 percent, above a 2-percent target. Evans added that while that level of growth could be reached in any given year, he said it was hard to imagine given the economy is already doing well, the labor market is very strong, and sectors like automobile sales are at all-time highs. There is room to get inflation up to 2 percent and in fact going beyond 2 percent a little bit to make sure we get there, and that it’s a symmetric inflation objective.

On the economy front, the Chicago Fed national activity index rose more-than-expected last month. Federal Reserve Bank of Chicago said that Chicago Fed National Activity Index rose to a seasonally adjusted 0.34, from -0.02 in the preceding month whose figure was revised up from -0.05.

Technical Overview 

MARKET SYNOPSIS

* Yesterday, NSE-NIFTY witnessed sharp decline in the initial trade and later spent entire session oscillating in narrow range. Finally after registering high of 9,168 and low of 9,116 levels closed the day at 9,127 mark with loss of 33 points.

* NSE Cash segment has reported turnover of Rs22,650crore as compared to Rs31,890 crore earlier.Overall market breadth turned negative, where 787 stocks advanced against 860 declined stocks.

* Mixed trend was observed across all the sectoral indices during the day, where none of the sectoral indices reported gain of more than 0.5%. However, IT index emerged as a top loser with the decrease of 1.1%. 

NSE-NIFTY OUTLOOK

NSE-NIFTY slipped to three day low as index failed to continue prior daily up-trend. As mentioned earlier, our technical view will remain positive on NIFTY, but some decline or sideways movement cannot be ruled out before index resumes the uptrend and records fresh high, as (i) negative market breadth, (ii) overbought indicators and (iii) lack of positive trigger in market are signaling the same. On the lower side, NIFTY will find immediate support around break-out line (i.e. placed around 9,120 level) and in case of further fall, psychological mark-9,000 will continue to work as key support level. On the higher side, index major resistance observed around 9,200 and then at 9,500 levels.

As for the day, support is placed at around 9,050 and then at 9,000 levels, while resistance is observed at 9,170 and then around at 9,220 levels.

Vivimed labs Hyderabad company-Research Report- Sharetipsinfo

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Text Box: Company Overview:Vivimed Labs is a Hyderabad based manufacturer focused on pharmaceutical and speciality chemical sector. Company has 11 manufacturing plants (eight domestic and three overseas) across three continents. The healthcare vertical is engaged in the custom manufacturing, APIs and formulations for leading generics-manufacturing companies. The specialty chemicals segment produces active ingredients for a range of home, personal care and industrial products. In our recent interaction, management sounded optimistic about pharma driven revenue growth and maintaining lighter balance sheet.

 

Devlopment Growth:

Divestment to deleverage and refocus

In FY16, Vivimed divested a part of its Specialty Chemical business (comprising Home and Personal Care segments) to Clariant India for consideration of INR 3.25bn. This divestment was to reduce debt and to refocus on pharma and speciality chemical segments. With this divestment, Vivimed plans to focus on growing Pharmaceutical API, CMO and Finished Dosage formulations businesses in regulated markets. In speciality chemicals, company has retained niche business like photochromic, imaging chemicals, anti-microbial, hair colour etc. to drive growth and profitability. Divested product lines had a revenue of INR 1,450 mn with an EBIDTA margin of 20%. Vivimed has managed to reduce net debt from INR 9850 mn in FY15 to INR 8075 mn in H1FY17 and further decline is expected till INR 7000 mn by Q4FY17. Vivimed also sold branded ophthalmic formulations business (KlarSehenPvt ltd) for consideration of INR 730 mn in H1FY17 which will further help in debt reduction.

 

Performance highlights:.

Sector Line:

Pharmaceutical segment

Company manufactures APIs and formulations across diverse therapeutic segments and has a strong marketing presence across regulated and emerging markets. Vivimed partners with leading global pharmaceutical companies for custom manufacturing (CMO) assignments for APIs and generic formulations. It is associated with companies like Novartis, CIPLA, Wockhardt etc. and ~55-60% manufacturing capacity is used for contract manufacturing (gets fixed margins). Company is planning to reduce exposure of CMO (currently ~30% of pharma revenue; EBITDAM 16-18%) and focus on high margin API/formulation business.

Company manufactures APIs across 15+ therapeutic segments from three facilities (in Spain and Mexico). Anti-ulcer is a key therapeutic segment followed by anthelmintic, antidepressants, anti-infectives, anti-HIV etc. Company has relationships with 100+ customers across 70 countries and has filed 50+ DMFs with the USFDA and 150+ active DMFs worldwide. Vivimed has received ANDA for five products in US and it has commercialized 4 products namely Losartan, Donepezil, Amlodipine and Metronidazole. With increasing ANDA product launches, Alathur capacity utilization is expected to jump ~55-60% by FY18 vizaviz current ~35% utilization. In spite of competitive market, management expects steady (10- 15%) growth from formulation business. Vivimed plans to focus on molecules going off patent in FY18-19 and has 5-6 molecules in pipeline which will be commercialized in next 2-3 years.

 

Speciality Chemicals

The company had two facilities for Speciality Chemicals, Hyderabad and Bidar, of which Hyderabad facility will be transferred to Clariant post the sale of a portion of a speciality chemical business. Company has retained niche business like photochromic, imaging chemicals, anti-microbial, hair colour etc. Vivimed is in advanced talks with Japanese client for supplying key photochromic products. Company expects significant revenue contribution from photochromic with premium margins (~45-50%) in coming years. Vivimed has long standing relationships with companies like P&G, L'Oreal, Johnson& Johnson etc. for hair dyes and microbial segment. Company is working on complete range of photochromic products and other hair/shampoo related products to expand product/consumer base in coming years.


 

Highlights the fact:

1)Company has 11 manufacturing plants (eight domestic and three overseas) across three continents.

2)In speciality chemicals, company has retained niche business like photochromic, imaging chemicals, anti-microbial, hair colour etc. to drive growth and profitability.

3)Company is planning to reduce exposure of CMO (currently ~30% of pharma revenue; EBITDAM 16-18%) and focus on high margin API/formulation business.

4)Vivimed has received ANDA for five products in US and it has commercialized 4 products namely Losartan, Donepezil, Amlodipine and Metronidazole.

5)Vivimed plans to focus on molecules going off patent in FY18-19 and has 5-6 molecules in pipeline which will be commercialized in next 2-3 years.

 

Technically View:

 

The stock is currently trading above 50 days and 100 days, moving average that is all about good bullish& uptrend signal on daily base. RSI &MFI is present at 66 and 74respectivally, which is sideways& showing the uptrend formation for the short term period. The stock is currently in uptrend and now someupside is expecting with major support is found 90level. MACD line is greaterthen signal line 10 day Avg Volume is very high.

 

Weekly Nifty Trading View for the Week March 20, 2017 – Mar 26, 2017

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Events to watch this week

  • Federal funds rate target raised to 0.75%–1.00%

  • BOJ and BOE leave rates unchanged

  • China snugs monetary policy

  • UK parliament passes Brexit bill

  • Dutch populists fare worse than expected

The Week ahead:

  • The United Kingdom reports inflation data on Tuesday, 21 March

  • The Bank of Japan releases the minutes of its recent monetary policy meeting on Tuesday, 21 March

  • The US reports existing home sales data on Wednesday, 22 March

  • Fed chair Janet Yellen speaks on Thursday, 23 March

  • Global flash purchasing managers' indices are released on Friday, 24 March

For the week,Global equities rose this week after the US Federal Reserve indicated it will raise rates gradually and the populist Freedom Party fared worse than expected in Dutch elections. The US 10-year note yields fell to 2.51% from 2.58% a week ago despite this week’s hike in interest rates from the Fed. West Texas Intermediate crude prices were little changed, holding below $50 per barrel on continued high inventories. Global Brent was steady at $52. Volatility, as measured by the Chicago Board Options Exchange Volatility Index (VIX), stayed about the same, at $11.20.

NIFTY- 9,160.05
CRUDE OIL-Rs 3,197barrel
GOLD-Rs 28,519 gram
Rs/$-Rs 65.48

MARKET ROUND UP 
Domestic stock markets registered strong gains in the truncated week ended Friday, 17 March 2017, on the back of thumping victory for the BharatiyaJanata Party (BJP) in the Uttar Pradesh assembly elections. The barometer index, the S&P BSE Sensex, surged 702.76 points or 2.42% to settle at 29,648.99. The Nifty 50 index jumped 225.50 points or 2.52% to settle at 9,160.05. The market was closed on Monday, 13 March 2017 for holi.

The Sensex settled well above the psychological 29,000 level while the Nifty breached the crucial 9,000 mark and settled at a record closing.The BSE Mid-Cap index advanced 3.94%. The BSE Small-Cap index gained 3%. Both these indices outperformed the Sensex.

The ruling party at the centre, the BJP, had put up a decent show in remaining three states polls viz. Uttarakhand, Manipur and Goa while it succumbed to Congress party in Punjab.
The election results could provide a much needed boost to BJP to accelerate the pace of reforms, including the rollout of the crucial Goods and Services Tax (GST), slated to be implemented from 1 July 2017.

Key benchmark indices closed with small gains on the final trading session of the week on Friday, 17 March 2017. The Sensex rose 63.14 points or 0.21% to settle at 29,648.99, its highest closing level since 29 January 2015. 

Macro Economic Front: 
On the Economic Front,the all-India general CPI inflation increased to 3.65% in February 2017, compared with 3.17% in January 2017. The data was announced after market hours on Tuesday, 14 March 2017.
Another data showed that India's exports rose 17.48% at $24.49 billion in February 2017 over February 2016. Imports rose 21.76% to $33.38 billion in February 2017 over February 2016. The data was announced after market hours on Wednesday, 15 March 2017.

Major Action &Announcement:
State Bank of India (SBI) rose 0.75%. The bank said that its Central Board at a meeting held on 15 March 2017 accorded its approval for raising of equity capital uptoRs 15000 crore during the year ending 31 March 2017 (FY 2017) through various modes as may be decided at the opportune time. The announcement was made after market hours on Wednesday, 15 March 2017.

Axis Bank advanced 0.28%. The bank said that it has reviewed and decided to keep the marginal cost based lending rates (MCLRs) of the bank unchanged across the tenors, effective from 18 March 2017. The one yea MCLR stands unchanged at 8.25%. The announcement was made after market hours on Thursday, 16 March 2017. 

TCS declined 0.59%. The company announced that its customer, Bank Yahav, is successfully operational with the TCS BaNCS Universal Banking platform, in a first of its kind for the Israeli market. The announcement was made after market hours on Tuesday, 14 March 2017. 

Wipro rose 3.5%. The company announced the launch of the Wipro HOLMES Cloud BOT - a continuously learning digital consultant, that leverages Wipro's BoundaryLess Data Center solution. The announcement was made after market hours on Tuesday, 14 March 2017.

L&T advanced 3.94%. The company said that L&T Realty has executed share purchase deal for selling its entire stake of 51% in L&T South City Projects to Pragnya Group for a consideration of Rs 190 crore. The announcement was made after market hours on Tuesday, 14 March 2017.L&T announced during market hours on Thursday, 16 March 2017 that L&T Electrical & Automation FZE won a major order worth Rs 500 crore from Qatar Rail Company (QRAIL) for Phase I of Doha Metro.

Power Grid Corporation of India (PGCIL) was up 0.49%. The company said that its board of directors accorded approval for various investment proposals aggregating to Rs 1197.10 crore. The announcement was made on Saturday, 11 March 2017. 

Sun Pharmaceutical Industries (Sun Pharma) rose 3.39%. The company said that US Food and Drug Administration (USFDA) will lift the import alert imposed on the company's Mohali facility. The announcement was made during trading hours on Tuesday, 14 March 2017. The Mohali facility was inherited by Sun Pharma as part of its acquisition of Ranbaxy Laboratories in 2015. 

Global Front: 
In Overseas Markets,US Federal Reserve raised interest rates as expected without accelerating its timeline for future tightening. The Fed raised its benchmark lending rate a quarter point and continued to project two more increases this year. Fed said that it would raise the benchmark federal-funds rate to a range between 0.75% and 1%.
The People's Bank of China raised the interest rates it charges commercial banks in the money market on the seven-day, 14-day and 28-day loans--also known as reverse repurchase agreements or repos--each by 0.1 percentage point. 

The Bank of Japan (BOJ) left policy unchanged on Thursday, 16 March 2017, sticking with its expansionary measures even though other major central banks, including the Federal Reserve, are shifting away from years of unusually aggressive stimulus. 

Global Economic News:

Fed hikes rates, expects continued gradual rise 
The US Federal Reserve’s rate-setting committee pushed policy rates up a further quarter of a percent at its 15 March meeting and indicated that it expects to hike rates twice more this year. Chair Janet Yellen said that the Fed’s economic forecasts have not changed since the last rate hike in December and that the pace of future rate hikes would be gradual. Yellen also said the Fed has confidence that the economic recovery is robust and is resistant to shocks. Despite the Fed hiking rates at two of its last three meetings, financial conditions are easier today than they were on the day of the Fed’s December hike: Equity prices are higher, the 10-year US Treasury note yield is lower, the dollar is weaker and corporate bond spreads are narrower.

BOJ and BOE stand pat; China raises short-term rates
While the Bank of Japan is not in a position to hike rates anytime soon, the Bank of England might be closer to a hike than markets expected. One member of the Monetary Policy Committee, Kristin Forbes, voted to hike rates by 0.25% on Thursday, and several other members indicated they would consider voting to hike rates if activity or inflation picks up further. With Brexit looming, the BOE finds itself in a policy bind given the potential for economic and market volatility because the process is unfolding at a time when inflation pressures appear to be rebounding. In the wake of the Fed’s hike, the People’s Bank of China raised its reverse repo rate 10 basis points in an effort to keep the USD/CNY exchange rate stable and limit capital outflows. Thursday’s hike was the second this year. However, China’s official monetary policy benchmark deposit rate remains unchanged. 

UK parliament passes Brexit bill
After several weeks of legislative wrangling, the UK parliament this week passed the European Union (Notification of Withdrawal) Bill and the queen has given Royal Assent, clearing the way for the government to begin negotiations to leave the EU. The two-year process is expected to be triggered by the end of this month.
G20 finance ministers meet
US treasury secretary Steven Mnuchin is set to meet with his G20 counterparts for the first time this weekend in Germany. Trade and currency issues will no doubt be at the top of the agenda. Mnuchin met with German finance minister Wolfgang Schaeuble on Thursday, with Mnuchin vowing to avoid trade wars while seeking to secure reciprocal trading arrangements.

GLOBAL CORPORATE NEWS

Dutch populist party underperforms expectations
Support for Geert Wilder’s Freedom Party faded in the final days of the Dutch general election campaign with his party finishing a distant second to the Liberal Party, led by Prime Minister Mark Rutte. Wilders had led in the polls for several months, but his party secured just 20 seats in the Dutch parliament versus 33 for Rutte’s party. Rutte will now need to forge a coalition with several other parties, a process which is expected to be lengthy, as Rutte has ruled out including the Freedom Party in any coalition. In addition to eyeing the performance of populist factions, observers monitoring the electoral performance of populist factions report increasing political fragmentation in Europe. For example, the Netherlands now has 13 parties claiming seats in parliament, with the leading party garnering only 21% of the vote.

NEW 52-WEEK HIGH BSE (A):

ADANIENT

105.25

ADANIPORTS

329.05

BAJAJFINACE

1184.00

NEW 52-WEEK LOWS BSE (A):


NOT YET IN (A) CAT

-------

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:


M&m fIN. SERVICES

13.10

REPCO HOME FINACE

12.98

INDIABULLS

12.87

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:


BHARAT ELECTRONI

-89.66

COAL INDIA LTD

-8.47

JAIPRAKASH ASSO

-6.35



Eyes will be set on the certain US economic data releases are:
Monday (20 Mar)
Chicago Fed National Activity Index 
Tuesday (21 Mar)
Week Bill Auction 
Wednesday (22 Mar)
Existing Home Sales
Thursday (23 Mar)
New Home Sales & Jobless Claims 
Friday (24 Mar)
PMI Composite Flash

Fundamental Pick of the week:
Buy Lupin Ltd For Target Rs.1,520.00
The stock has made a strong bottom in the last few weeks at sub 1400 with strong volumes and positive price action in the last few days.

The key technical indicators and RSI has also reversed turning upwards and as the stock is in poised for a breakout from current levels.The stock has closed near its short term averages confirming the uptrend and the recent swing high of 1550 could be tested in the next few weeks.
Thus, for trade, long position can be initiated for target of Rs 1520 with a stop loss of Rs 1415.

Indian Market Outlook:
Market on March 17, 2017 
The Nifty opened gap-up above 9200 but could not build upon the early gains. The Index declined throughout the day and closed just above the daily upper Bollinger Band. Nevertheless, this is a minor correction and the larger trend still remains positive. In terms of the wave structure, the rally is getting sub-divided into lower degree waves and has the potential to sustain. The weekly close confirms the bullish inside bar breakout on the weekly chart, which indicates that the mediumterm trend is in favor of the bulls. Short-term and medium-term targets on the upside are 9230 and 9500, respectively. On the flip side, 9060-9000 will act as a key support area from a short-term perspective.

TECHNICAL VIEW:


S3

S2

S1

NIFTY

R1

R2

R3

9,000

9,060

9,125

9,160.05

9,245

9,275

9,340

Other technical observations 
On the daily chart, the Nifty is trading above the 20- day moving average (DMA) and the 40-DEMA, ie 8947 and 8806 respectively. The momentum indicator is in a bullish mode on the daily chart.
On the hourly chart, the Nifty is trading above the 20- hour moving average (HMA) and the 40-HEMA, ie 9134 and 9081 respectively. The hourly momentum indicator is in a bearish mode. 

Bank Nifty View
Long above 21300 for a move towards 21450/21500.Bearish below 21000 for a move towards 20800/20600. High madewas 21336 and low made was 21127 so bulls broke 21300 with gap up but bears became active and pushed the bank nifty below 21300, but bulls also did not let 21000 break so the range trade continues. Weekly close above 21000 is a very bullish sign as we have the Highest Weekly close. Long above 21300 for a move towards 21450/21500.Bearish below 21000 for a move towards 20800/20600. 

Conclusion:

The Indian equity markets zoomed after BJP’s overwhelming victory in Uttar Pradesh. The week that went by was a historic one for Nifty and Sensex in terms of new achievements. Nifty breached its all time high and crossed 9200, however, the 9200 mark acted as resistance for the benchmark index. Sensex too soared 616 points in a day on Thursday and closed at the peak level at 29,586. Foreign investors have renewed confidence after the UP elections results boosted hope of further reforms. On the other hand, as widely expected, the Federal Reserve raised interest rates for the second time in 3-months. Interestingly, Nifty sectoral indices set new records as the market negated the US Fed rate hike and continued with the upward momentum.

How to differentiate between profitable and non profitable shares?

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The stock market is an important place to deal with good stocks. In the stock market there are real as well as sundry stocks that function in the market. The stock market is always intended of growing up or sloping down gives us a wide variety of options. The stock market is a place where the stock investors are always interested to gain out higher dividends and pay returns. In the growing economy like ours the market scenario is always dependent on the work and functioning of the developed economy and any changes in their present scenario can bring in a drastic change in the market scenario of our economy.  So in order to understand the functioning of the market the people at large need to know the factors triggering the increase of a certain commodity or the decrease of other commodities as such. The investors in order to know the real stocks in which they need to invest come with the actual knowledge of the market at large. You should be able to know how to differentiate between profitable and non profitable shares?

 

Real stock Marketing

The real stock marketing gives us the actual scenario and the picture of what all is happening in the market. Here we have to give our self some space to understand as to how the real stock market functions and what are the prime factors that rotates the functioning of the market. We need to understand here that the stocks and the commodities are always on a run in the market and the upturning or downgrading of the market depends on how well we can rotate the price and demand of the commodities in the market in the real long run to come. The real stock market is something that is always on the high end values and includes commodities an investment that actually decides the way of trading in the market. This are the stocks that give you a hold in the market and at the same time can give you an idea of the other high end products in the market. In the market that we are dealing with, we will find a good amount of different commodities. Some of them will be on the higher end and will be capable of giving rich dividends however some of them will be on lower end with a lower trend of increasing ratio but are capable of giving you rich dividends in the longer run to come. The share market thus comes with a lifetime situations where the performance is the main parameter.

 

Knowing the real factor

The micro dynamics study of the market here means that the new concept and idea need to be tasted and fully applied into a section of the market before giving it a full fledged launch. The market will provide us with all other support like the target group, the demand  for the definite product and many such thing but the other things like creating the demand for the new concept, the market research and the concept generation that needs the maximum time and effort need to be done at the best possible shortest time. The market has its own time of functioning at the same time there is a definite life cycle of the product on its own which goes on its own process of slowdown. Thus here we need to understand that the market needs, demands and functioning are its own pace and the only thing can be done here is to modify it according to own ideas. In this, the initial step will be to do a market research to know as to which are the stocks that are bringing in the maximum profits. The investors should first of all make a list of all the performing and non performing stock in the market and thus prepare a portfolio for the stock investment. This in turn will help us prepare a guideline for ourselves. There is always a fear that the new concept or ideas generated may turn old by the time they are implemented as the market is growing at a very rapid and dynamic way. Summarizing these all together we will get a fair idea of the functioning and abnormalities of the market and will be in apposition to bring out the exact procedure as to how to differentiate between profitable and non profitable shares?

 

Nifty consolidates after a new high; Idea down 4%, sugar stocks rally

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Indian Indices: After paring some of their gains in early noon session, Indian equity benchmarks showed some recovery in late afternoon session and continued their trade in green with gain of around quarter of a percent. Sentiments remained upbeat as the Goods and Services Tax (GST) Council cleared all legislations required for marking a big step forward in India's plans for a countrywide rollout of the new tax regime from July 1. 

Traders took some encouragement with the Economic Affairs Secretary ShaktikantaDas’s statement that the Indian economy is strong enough to absorb the impact of the US Federal Reserve’s interest rate hike. Meanwhile, global rating agency Crisil blamed divergent growth dataprints for WPI-CPI variance. It said the main reason for the faster growth in manufacturing GDP is that growth in the value of inputs used for production has been slower than the value of the final output.

The BSE Sensex is currently closed at 29648.99, up by 63.14 points or 0.21% after trading in a range of 29627.62 and 29824.62. There were 11 stocks advancing against 18 stocks declining on the index, while 1 stock remained unchanged.

The broader indices were trading mixed; the BSE Mid cap index was down by 0.20%, while Small cap index was up by 0.01%.

The CNX Nifty is currently shut at 9160.05, up by 6.35 points or 0.07% after trading in a range of 9147.60 and 9218.40. There were 17 stocks advancing against 34 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

M&M Fin

311.25

5.71

Sadbhav

307.00

5.48

RTNPower

7.59

5.27

Torntpharm

1447.55

5.48

Losers

 

 

JPAssociat

14.00

-5.72

IDEA

107.90

-4.47

CRISIL

1889.70

-4.07

Wabag

601.15

-3.12

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

29,648.99

0.21

Nifty

9,160.05

0.07

 

Crporate Front: The total coal imports have been consistently reducing over the last three years, said PiyushGoyal, union minister of state (I/C) for coal, power, new & renewable energy and mines in a written reply in LokSabha. The Minister said in a statement that, “In 2016-17, as on 31.12.2016, the figure has reduced to 144.87 MT as compared to 146.12 MT for the same period in 2015-16.

 

Macroeconomic front: HDFC Chairman Deepak Parekh on Friday said the Goods and Services Tax (GST) regime can push up the country's growth by as much as 150-200 basis points (bps)."If we have a good GST system, lot of experts say GDP could go up by 150-200 bps," Parekh said at the India Today Conclave here.

 

On the global front: On the global front, European markets were trading in red as they took a bit of a breather after hitting record highs during Thursday's trading and investors also awaited euro zone trade figures and a G20 finance ministers meeting in Germany. However, Asian markets were trading in green. Back home, in scrip specific development, Trent traded higher after the company redeemed Commercial Paper amounting Rs 50 crore on March 14, 2017. The said Commercial Papers were issued on September 15, 2016.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28509.00

0.34

Silver

40873.00

0.68

Crude oil

3208.00

0.5

Natural Gas

190.20

-0.94

Alluminium

124.60

0.61

Copper

389.45

0.44

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were FMCG up by 3.01%, IT up by 0.66%, TECK up by 0.16% and Realty up by 0.13%, while Telecom down by 2.07%, PSU down by 0.69%, Bankex down by 0.51%, Capital Goods down by 0.49% and Utilities down by 0.46% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were ITC up by 6.23%, Wipro up by 1.59%, Tata Power up by 1.52%, Infosys up by 1.39% and HCL Tech up by 1.30%. On the flip side, Idea Cellular down by 3.50%, BhartiAirtel down by 2.73%, Tata Motors - DVR down by 1.96%, Bank of Baroda down by 1.90% and SBI down by 1.58% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 11.15 points or 0.64% to 1,748.29, KOSPI Index increased 14.5 points or 0.67% to 2,164.58, Hang Seng increased 21.65 points or 0.09% to 24,309.93 and Taiwan Weighted increased 70.86 points or 0.72% to 9,908.69. On the flip side, Nikkei 225 decreased 68.55 points or 0.35% to 19,521.59, Shanghai Composite decreased 31.49 points or 0.96% to 3,237.45 and Jakarta Composite decreased 16.19 points or 0.29% to 5,502.05.

European markets were trading mostly in red; Germany’s DAX decreased 51.36 points or 0.43% to 12,031.82 and France’s CAC decreased 5.06 points or 0.1% to 5,008.32. On the flip side, UK’s FTSE 100 increased 5.12 points or 0.07% to 7,421.07.

 

Federal Reserve raises rates by 25 basis points which saw US Dollar fall while stock indices rally

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Indian Indices: Asian indices opened in the green after a strong triple digit rally overnight on the Dow Jones as the Fed rate hike got discounted by the markets. US Dollar fell even as bond yields corrected with gold prices rising as the Fed indicated gradual rise in rates over the year.


Nifty will witness new highs on opening bell as foreign flows continue to be big buyers even as domestic mutual funds book profit. Rupee strength, improving longer term macros and local liquidity, all are seeing re-rating of Indian equities. For today expect mid-cap outperformance to continue even as foreign investors buy large cap heavy weights.


The BSE Sensex is currently trading at 29590.75, up by 192.64 points or 0.66% after trading in a range of 29482.83 and 29614.79. There were 27 stocks advancing against 3 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index surged 0.99%, while Small cap index was up by 0.91%.

The CNX Nifty is currently trading at 9145.95, up by 61.15 points or 0.67% after trading in a range of 9128.55 and 9152.90. There were 48 stocks advancing against 3 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

PCJeweller

402.10

4.32

Jindalstel

128.20

4.31

Adaniports

321.00

3.58

Balkrisind

1427.00

3.53

Group ATopLosers

 

 

Srtransfin

1047.20

-2.28

Concor

1232.00

-1.83

Cadilahc

443.40

-1.34

Unitdspr

2235.00

-1.46

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

29345

29550

Nifty

9055

9120

 

Technical view: Nifty finds strong support around 9050 while 9200 will act as resistance on the upside. Bank Nifty also finds strong support around 21000 while 21500 will act as resistance on the upside.


 

Trading ideas :Adani Enterprise (Buy above 101 for Target of 110 Stop Loss at 96.5): After being stuck in a narrow trading range for over 6 weeks, the stock is finally on the verge of a consolidation breakout. Volumes have already given a confirmation of the ongoing positive upswing. Other momentum oscillators also indicate strength in the current up move.


Derivative Snippets: In the yesterday’s trade, markets finally took a breather and ended the trade on a lackluster note. Nifty IT index was the biggest loser as Indian Rupee surpassed its June 2015 high. Short covering in Nifty 9000CE and short selling in 9000CE was witnessed.

FIIs were net buyers in cash market segment to the tune of Rs 1141 crore.

FII’s index future long/short ratio at 3x. Long positions were created in Index options in yesterday’s day.


Nifty Movers: The top gainers on Nifty were Adani Ports up by 3.24%, Tata Steel up by 2.61%, HCL Tech up by 1.81%, Hindalco up by 1.62% and Tata Motors - DVR was up by 1.52%. On the flip side, BhartiAirtel down by 0.80%, Hero MotoCorp down by 0.56% and Reliance Industries down by 0.38% were the few losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Metal up by 1.67%, Capital Goods up by 1.32%, Industrials up by 1.31%, Basic Materials up by 1.18% and IT was up by 1.12%, while Telecom down by 0.07% was the lone losing index on BSE.The top gainers on the Sensex were Adani Ports up by 3.58%, Tata Steel up by 2.41%, Larsen & Toubro up by 1.66%, Infosys up by 1.27% and Wipro was up by 1.27%. On the flip side, BhartiAirtel down by 0.67%, Hero MotoCorp down by 0.50% and Reliance Industries down by 0.31% were the few losers.

 

 

On the global front: On the global front, Global cues too provided strength to domestic bourses with Asian markets rallying at this point of time after the US Federal Reserve hiked interest rates, as expected, but signalled ‘gradual’ rises. The US markets bounced back in last session; with all the major bourses posting gains of over half a percent.

 

Global Signals:Asian markets were trading in green; KOSPI Index increased 11.64 points or 0.55% to 2,144.64, FTSE Bursa Malaysia KLCI gained 15.42 points or 0.9% to 1,732.78, Nikkei 225 rose 19.12 points or 0.1% to 19,596.50, Shanghai Composite jumped 21.32 points or 0.66% to 3,263.08, Jakarta Composite surged 55.77 points or 1.03% to 5,488.15, Taiwan Weighted added 88.89 points or 0.91% to 9,829.20 and Hang Seng was up by 311.21 points or 1.31% to 24,104.06.

 

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Domestic Market View :

Markets to make a positive start reacting to assembly results and IIP data

The Indian markets before going for a long weekend made a flat closing with a positive bias. Today, the start is likely to be in green and the traders will be rejoicing the assembly election outcome, which was mostly on the expected lines. A strong election win in the largest state of Uttar Pradesh has raised the probability of the BJP winning the 2019 general elections as well, putting sense of stability among investors. Traders are also likely to get support from the economy front, where the industrial production bounced back into expansion in January, kicking off the financial year’s last quarter on a positive note. The index of industrial production (IIP) rose 2.7% in January from a year ago, the second fastest monthly growth this financial year. However, there will be some cautiousness too, with the RBI warning of a possible spike in inflation and stressing the need to make digital payments “safe and secure”, even as it felt that the adverse and transient impact on the economy has “by and large” dissipated already. Traders will be eyeing the inflation data to be released later in the day for further cues. The banking stocks will keep buzzing, as the Finance Minister Arun Jaitley has discussed options on resolution of bad loans with RBI Governor Urjit Patel and other top officials in finance ministry but creation of a 'bad bank' to hold such loans seemed not on top of alternatives.

Indian benchmarks end marginally higher ahead of assembly elections results

Indian benchmark indices give up most of their early gains to close marginally higher on Friday, amid profit taking in selective frontline stocks. Today’s session largely remained characterized by consolidation as the aimless indices moved only sideways in a tight band ahead of Assembly poll results of five states on Saturday. Sentiments got some support after various exit polls suggested the Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) may comfortably cross the majority mark of 202 in the 403-seat UP Assembly, or come close to it. As for other states, most exit polls said the BJP was likely to retain power in Goa and wrest power from the Congress in Uttarakhand. Further, investors got some comfort with the report that the government's revenue collection from indirect tax during April-February grew by an impressive 22.2%, while that of direct tax rose by 10.7%. Total direct and indirect tax collections at February end stood at Rs 13.89 lakh crore, 81.5% of the target of Rs 16.99 lakh crore, as per the revised estimate for 2016-17. 

However, gains remained capped with CRISIL’s report that a revival in private sector investment cycle is likely to be deferred to fiscal 2019 as there is ample headroom in capacity utilization, stretched balance sheets and just a moderate pick-up in demand. In the next fiscal year ending March 2018, CRISIL predicts only a mild recovery due to an absence of fiscal and monetary stimuli and unsupportive global environment. Meanwhile, Telecom stocks gained traction on the report that the government is set to go for 5G spectrum auction this year -making an early move to initiate rollout of latest communications technologies. The government will also go for a fresh auction in 700 MHz band, which drew a blank last year as companies complained of high reserve price. Further, some auto stocks surged after the Vehicle sales across categories registered a marginal increase at 17,19,699 units in February 2017 from 17,03,736 in the same month last year. Domestic passenger vehicle sales rose by 9.01% y-o-y to 255,359 units in February, while Sales of commercial vehicles moved up 7.34% to 66,939 units in February. On the other hand, shares of gold loan companies like Manappuram Finance edged lower after the Reserve Bank of India (RBI) said NBFCs cannot lend more than Rs 20,000 in cash against gold. Earlier, NBFCs were allowed to disburse high value loans of Rs 1 lakh and above against gold only through cheque.

Global Market Overview 

Asian markets made a mixed closing on Thursday

The US markets closed mostly higher on Monday, as investors refrained from making sizable bets ahead of a Federal Reserve meeting that is widely expected to deliver an interest-rate increase. With no economic data, investors were instead focusing on the two-day Federal Open Market Committee meeting that kicks off Tuesday. Investors will be eager to glean signals about the timing and pace of future rate increases from the FOMC’s policy statement. The market is pricing in about three rate increases of a quarter of a percentage point each for 2017. The market sees an 88.6% probability that the policy-setting Federal Open Market Committee will vote for an interest-rate Wednesday, according to data from the CME Group. Expectations for a rate increase were cemented after solid February nonfarm-payroll data on Friday. According to a Federal Reserve Bank of New York survey released showed that a measure of US inflation expectations mostly flattened in February after having risen in the previous two months. The survey of consumer expectations, an increasingly influential gauge of prices for the US central bank, showed that year-ahead inflation expectations were flat at 3 percent last month. The three-year ahead reading edged up to 3 percent, from 2.9 percent in January.

The Nasdaq was up 14.05 points or 0.24 percent to 5,875.78, S&P 500 gained 0.87 points or 0.04 percent to 2,373.47, while the Dow Jones Industrial Average lost 21.5 points or 0.10 percent to 20,881.48.

Economic Overview 

January IIP surges to 2.7% against -0.4% in December

 

In a positive surprise, industrial output rose to 2.7% in January as compared to -0.4% in December. The cumulative growth for the period April-January 2016-17 over the corresponding period of the previous year stood at 0.6 percent.

Govt releases the draft rules for security of prepaid payment instruments

 

In a bid to make electronic payments more secure, the government has released the draft rules for transactions made through prepaid payment instruments (PPIs) like mobile wallets, smart cards and paper vouchers. The draft IT (Security of Prepaid Payment Instruments) Rules 2017, formulated by the Ministry of Electronics and Information Technology (MeitY) will ensure adequate integrity, security and confidentiality of electronic payments effected through PPIs. Till date, these instruments are not governed by norms or rules, as far as cyber security issues are concerned.

 

As per the draft rules, the PPIs need to ensure end-to-end encryption of the data exchanged. Besides, the e-PPI issuers should assist customers with regard to secure use of the prepaid payment instruments and should have a privacy policy posted on its website.

 

They will also have to appoint a chief grievance officer, whose contact details will have to be prominently displayed on the website and procedure by which customers or any other person who suffers as a result of violation of these rules can make complaints to the Grievance Officer.

 

Furthermore, the PPI issuer will also need to establish a mechanism for monitoring, handling and follow-up of any cyber incidents and breaches. The rules also specify that every wallet issuer should review its security measures at least once a year, and after any major security incident or breach, or before a major change to its infrastructure or procedures. The last date for submittingcomments on the draft is March 20.

 

Indian govt continue to engage with Trump administration on H1B visa issue

 

In order to ease the worries of Indian professionals over H1B visa, the government has said that the steps taken by the US were aimed at illegal immigration and added that they would continue to engage with both members of the US administration as well as members of the US Congress on their interests and concerns pertaining to not just H1B visa but other issues as well.

 

Talking on the discussions held between Foreign Secretary S. Jaishankar with his interlocutors in the US last week, External Affairs Ministry Spokesperson Gopal Baglay has said that there was a strong recognition as well as respect for Indian skills and contribution of the Indian technological manpower to the US economy. He also said it has been India's view that the presence of skilled Indian professionals is positive for the US economy as well, particularly when the US seeks to build a stronger economy. He pointed out that there are other advantages from the presence of Indian professionals in the US like backward linkages.

 

Calling the H1B visas a trade and business issue, Baglay further said that their views have been clearly conveyed to the concerned US interlocutors. He also said that the government believes that the plans of the US Administration for the US economy present an opportunity for the two countries to further consolidate their strong economic partnership.

Weekly Nifty Trading View for the Week March 13, 2017 – Mar 19, 2017

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Events to watch this week

  • US employment report beats expectations

  • ECB raises inflation forecasts

  • China lowers growth target

  • Potential second Scottish referendum?

The Week ahead:

  • The United States and Canada turn their clocks ahead one hour for daylight saving time on Sunday, 12 March
  • China releases retail sales figures on Tuesday, 14 March
  • Eurozone industrial production is reported on Tuesday, 14 March
  • US retail sales for February are released on Wednesday, 15 March
  • The US Federal Reserve meets to set interest rates on Wednesday, 15 March
  • The Netherlands holds a general election on Wednesday, 15 March
  • The Bank of Japan holds a rate-setting meeting on Thursday, 16 March
  • The Bank of England meets to set interest rates on Thursday, 16 March
  • The US reports industrial production data on Friday, 17 March

For the week,Global equities were little changed on the week, consolidating recent gains. The yield on the US 10-year Treasury note continued to advance this week in anticipation of tighter monetary policy, rising to 2.58% from 2.49% a week ago. Rising US crude oil inventories sent prices tumbling this week. West Texas Intermediate crude fell to $49.25 per barrel from $53 a week ago, while global Brent crude slumped to $52.10 from $55.50. Volatility, as measured by the Chicago Board Options Exchange Volatility Index (VIX), was little changed at 11.7.

NIFTY- 8,934.55
CRUDE OIL-Rs 3,228barrel
GOLD-Rs 28,337 gram
Rs/$-Rs 66.61

MARKET ROUND UP 
The market ended with small gains last week as investors remained on the sidelines ahead of the key state election results. Investors remained wary ahead of state assembly election results of five states on Saturday, 11 March 2017. Investors were also cautious ahead of a US Federal Reserve meeting next week in which policy makers are widely expected to raise interest rates. 
Negative global cues also weighed on investors trading sentiment. Geopolitical tensions spooked investors after North Korea launched four missiles into the Sea of Japan. Also, China posting a rare trade deficit in February also added to global growth worries.

The Sensex settled a tad below the psychological 29,000 level after flirting with that level during the week.
In the week ended Friday, 10 March 2017, the Sensex rose 113.78 points, or 0.39% to settle at 28,946.23. The Nifty 50 index rose 37 points, or 0.42% to settle at 8,934.55. The BSE Mid-Cap index fell 43.45 points, or 0.32% to settle at 13,365.59. The BSE Small-Cap index fell 15.21 points, or 0.11% to settle at 13,604.96.

Macro Economic Front: 
On the Economic Front,On macroeconomic data front, the index of industrial production (IIP) data for January 2017, will be released after market hours on Friday, 10 March 2017. India's industrial production fell by 0.4% year-on-year in December 2016, following a downwardly revised 5.6% growth in the previous month.

On the political front,results of various exit polls released on Thursday, 9 March 2017, showed that ruling party at the Centre, BJP, doing well in Uttar Pradesh, Uttarakhand, Goa and even Manipur, with the Congress and the AamAadmi Party locked in a tough contest in Punjab. However, the numbers given by the exit polls varied widely, suggesting convergences only in broad trends.
The exit polls predicted a hung assembly in the key state of Uttar Pradesh where BJP would emerge as the largest single party. Most polls also forecast a close fight between the Congress, which is seeking to return to power in Punjab after a hiatus of 10 years. They have predicted victory for BJP in Uttarakhand, but the saffron party, though likely to lead the table in Goa, was projected to fall short of a majority in the tiny coastal state.

In Uttar Pradesh, where five polls India News MRC, Times Now VMR, ABP Lokniti CSDS, India TV-C Voter and India Today Axis showed the BJP as leading the race, the saffron party's projected tally varied from 155 to 279 seats in 202 seats required for simple majority. The SP-Congress tally varied from 88 to 169 seats, while the BSP was shown winning just between 28 and 93 seats.
The exit polls showed Punjab witnessing a tight contest between the AamAadmi Party and the Congress. In Uttarakhand, three polls News 24 Today's Chanakya, India Today Axis and India News MRC showed the BJP winning the State. India TV- CVoter showed both the parties tied at 29-35 seats.

Final results of the elections which were recently held in five states including Uttar Pradesh, Goa, Uttarakhand, Punjab and Manipur are due on Saturday, 11 March 2017. For the bulk of legislation to be signed into law, approval from both houses of parliament is required. The BJP and its allies account for 339 of the 545 seats in the lower house, called the LokSabha, but they only hold 73 of the 250 seats in the upper house, or RajyaSabha.

Major Action &Announcement:
State Bank of India (SBI) was the top Sensex gainer last week. The stock rose 2.60% to Rs 272.05. SBI announced after market hours on Thursday, 9 March 2017, that its board will meet on Wednesday, 15 March 2017, to consider inter raising of funds through equity capital by way of follow-on public offer (FPO)/rights lssue/employees share purchase scheme (ESPS) /employee stock option scheme (ESOS)/qualified institutional placement (QIP)/American depositary receipt (ADR)/global depository receipt (GDR) and any other mode or a combination of these at the appropriate time. 

Telecom major BhartiAirtel rose 2.59% to Rs 364.80. BhartiAirtel and Millicom International Cellular SA announced after market hours on Friday, 3 March 2017, that they have through their respective subsidiaries entered into an agreement for Tigo Ghana and Airtel Ghana to combine their operations in Ghana. As per the agreement, Airtel and Millicom would have equal ownership and governance rights in the combined entity.

Reliance Industries rose 1.82% to Rs 1,281.40. A massive bulk deal of 39.61 crore shares representing about 12.2% stake of the company was executed on the scrip at Rs 1,292.05 per share in opening trade on BSE on Thursday, 9 March 2017.

Tata Steel was biggest Sensex loser last week. The stock fell 5.49% to Rs 467.80. The company announced on Tuesday, 7 March 2017, that Tata Steel UK informed employees that it completed the consultation process on a proposal to close the British Steel Pension Scheme to future accrual. During the consultation process the company spoke to more than 4,000 employees at more than 90 face-to-face briefings across the UK. It also received feedback through trade union representatives.

ICICI Bank fell 1.92% to Rs 270.55. The bank announced after market hours on Thursday, 9 March 2017, that the committee of executive directors of the bank approved the proposal for fund raising by way of issuance of Basel III compliant unsecured subordinated perpetual Additional Tier 1 Bonds in single/multiple tranches in any currency through public/private placement on terms as may be decided at the time of issuance.

Global Front: 
In Overseas Markets,Asian markets closed mostly higher, as investors eyed US rate hike next week. China’s central bank governor told a news conference that making monetary policy neutral would help China’s supply-side reforms, reinforcing expectations that liquidity would be relatively tight. The People’s Bank of China (PBOC) said that China will not devalue its currency to stimulate exports. China’s exports for January and February combined rose 4.0 percent from the same period last year, while imports surged 26.4 percent, suggesting solid improvement in demand domestically and abroad. European markets were trading in green as comments by European Central Bank President Mario Draghi continued to support the markets. 

Global Economic News:

US payrolls rise more than forecast
Nonfarm payrolls rose 235,000 in February, more than economists had forecast. The strong data, along with upward revisions to prior months, have prompted Fed watchers to begin to forecast a faster pace of tightening by the US Federal Reserve. In addition to the potential for more-frequent rate hikes, observers are discussing the prospect of the Fed beginning the process of reducing the size of its balance sheet late in 2017 or early in 2018. The unemployment rate dipped to 4.7%, while the labor participation rate rose to 63%.

ECB signals a lower sense of urgency
European Central Bank president Mario Draghi said this week that deflation risks in the eurozone have “largely disappeared,” as ECB inflation forecasts were raised to 1.7% from 1.3% for 2017 and 1.6% from 1.5% in 2018. In a sign of receding deflation concerns, the ECB dropped from its opening statement the phrase that it is prepared to use “all available instruments available within its mandate.” However, Draghi warned that downside risks remain, particularly around the geopolitical sphere.

China signals slightly lower growth ahead
At its annual meeting of the National People’s Congress, China announced it had trimmed its official economic growth target to 6.5% for 2017 from a range of 6.5%–7% in 2016. Actual growth in 2016 was 6.7%. Also this week, China reported a rare trade deficit. Analysts are wary of data from January and February given the variable timing of the Lunar New Year holiday.

US trade gap widens
The United States reported its largest monthly trade deficit in nearly five years this week. January’s deficit rose 9.6% from December, to $48.5 billion. US Commerce Secretary Wilbur Ross, calling for free and fair trade, said the latest data show that there is much work to be done on trade agreements.

GLOBAL CORPORATE NEWS

Scottish leader floats notion of second independence vote
Scottish first minister Nicola Sturgeon says late 2018 could be the best time for a second referendum on independence from the United Kingdom. The timing would coincide with the shape of the UK’s Brexit deal becoming clear, the minister said. Scotland voted in 2014 to remain a part of the UK, but Brexit has set off fresh calls for independence. Further related to Brexit, UK prime minister Theresa May continues to tussle with the House of Lords, with the upper chamber voting to amend the Article 50 bill to force Parliament to vote on the final outcome of the government’s negotiations with the European Union. The bill will now be sent back to the House of Commons, where it is expected to be overturned.

German factory orders hit air pocket
German factories started the year with a thud as new orders plummeted 7.4% in January, the largest drop since the depths of the financial crisis in 2009. Orders rose 5.4% in December and survey data have been strong, so economists warn not to read too much into one month’s data.

NEW 52-WEEK HIGH BSE (A):

BAJAJELEC

306.00

DCBBANK

163.90

ESCORTS

517.90

NEW 52-WEEK LOWS BSE (A):


RELIGARE

209.00

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:


BAJAJ ELECTRICAL

14.58

DELTA CORP

11.88

BLUE DART

9.79

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:


GAIL

-27.27

NATIONAL

-10.26

MANAPURAM

-9.18



Eyes will be set on the certain US economic data releases are:
Monday (13 Mar)
Labor Market Conditions 
Tuesday (14 Mar)
FOMC Meeting Begins & NFIB Small Business
Wednesday (15 Mar)
Consumer Price Index
Thursday (16 Mar)
Housing Starts& Jobless Claims 
Friday (17 Mar)
Consumer Sentiment


Fundamental Pick of the week:
STOCK IN FOCUS 
State Bank of India (SBI) closed 1.2% higher, outperforming benchmark NIFTY, which closed flat.SBI has been able to deliver relatively better operating performance compared to its peers despite elevated stress in balance sheet.
We believe that the Bank has been able to clean-up its loan book effectively, which reasonably assures us that it will continue to surprise positively on operating and asset quality fronts from FY18E onwards.
Further, we believe that demonetization drive will also have positive impact on SBI’s performance.
We reiterate our BUY recommendation on the stock with an SOTP-based Target Price of Rs320.

Indian Market Outlook:
NIFTY OUTLOOK:

Nifty traded with mix sentiments in last session due to profit booking at higher levels from traders. However, it recovered well from lower levels in second half of the session. Next important support seen at 8830 level.Nifty likely to trade with sideways sentiments in last session on profit booking at higher levels from traders. Nifty likely to trade with sideways sentiments and 8880 at lower side will be the trend deciding level for intraday session. Higher side resistance seen at 9000 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 63.88 indicates that it is trading near over bought zone and may face resistance at higher levels. 

TECHNICAL VIEW:


S3

S2

S1

NIFTY

R1

R2

R3

8,760

8,860

8,900

8,934.55

8,975

9,020

9,100

Nifty Spot View 
Bullish above 8995 for a move towards 9033/9080 Exit Poll results will be came out. Low made today was 8899 and high made was 8946 so both bulls and bears were not able to break the range we mentioned. Plan remains the same short below 8890 gann angle support for a move towards 8850/8780/8720 and long above 8895 break gann angle for a move towards 9033/9080/9120. Nifty will open with huge gap on Monday and can hit a new life highs, but does it mean that we blindly go long, As a matter of fact on May 16 when BJP got majority in LokSabha we closed marginally in green after an upmove of more than 6%.

Conclusion:
Nifty hovered in a narrow range for the entire week and settled marginally in green, citing caution ahead of the states election results. Amid all, rotational buying in select index majors helped index to sustain at higher levels.
Next week, markets will initially react to the outcome of state election results and IIP data. Going ahead, the two-day US Fed meet will also remain on the participants’ radar.

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Getting all the right updates of the stock market and then making the best choice of investment can both help you to remain profitable in the market. You would be able to make the right choice of stocks when you are ready to take the risks and so you have to try your best to remain confident in the market so that you get the right amount of profits. If you are not at all willing to take the risks of your investment then it would be quite difficult to win in the stocks. It is also to be noted that you have to get enough time to get a good understanding of the market by getting some good research done. You would find that the more efforts you try to make the study of the market situation, the safer you would feel in the market. You have to know how the condition of the market is if you really wish to get the maximum gains from it. It is also important to get the best website or any other source of information where you can make good benefits and you would be able to make good judgment of the stocks. If you try to predict the market then you would be nowhere in the market as it is very impossible to make any assumption of what would happen to your invested stocks. Experts try to go for fundamental analysis of the market but in this case too you cannot deny the fact that their studies do not always give the right information which might lead you to lose your income. Unless you are a knowledgeable person and you know how to deal in the stock market you would never be able to make any good profits from the stocks. Simply trying to make your stock investment would not give you any good profits unless you are able to take your best foot forward in the market. Determining the budget can also help you to get good income from your stocks and you would feel some positive energy in your body that is very important for you. Everybody has different concepts of the market and so you need to know the right investment plan for you looking at the market conditions. You also need to know how to find the best investment category for you?

 

Try to make investment online

You should be able to know how to deal in the market and understand about the concept of online stock market. If you are not really sure of the current conditions that are prevailing in the market then you would not get the best income. This would also make your confidence go low thereby making you to lose all your trust in the market. This is very wrong that might lead you to become a person who cannot take any thing in the market positively. So in keeping view of the stock market risks you should try to invest in the market very carefully. If you concentrate on the ups and downs of the stock market carefully then you might feel that it is a matter of luck that plays an important role and for this you have to make all things clear to you.

 

Never try to invest blindly in the stocks

If you try to invest your money in the stock market then you have to know that you have to keep your eyes open and look for better time so that you can get the best stocks without any difficulties or worries. You would be glad after reaping good and maximum profits from the market which would also make you experienced. You have to know whether day trading is useful for you in case you invest your money in it. So, different investors might try to choose different investment plans from the market in order to make good profits. You should also try to focus on your goals when you invest in it. Hence you have known how to find the best investment category for you?

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