TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : The Market has opened in Green on Monday, The Nifty up by 8 point or 0.12 per cent at 8228 but below its crucial level of 8250. The US Job creation tumbled in may, US crated 38,000 jobs in May vs. 162,000 expected its is in six year low level. Casting doubt on hopes for strong economic recovery as well as the Fed rate hike decision in this Summer.Although the Fed Chairperson Jennet Yellen is confident about the Economic Recovery and rate hike is possible Gradually she said in statement. This week was eventful with the Reserve Bank of India monetary policy review & the southwest monsoon has reached in the kerala coast as per Indian Meteorological Department prediction. If the Monsoon will be above than normal it will impact the market positively, we believe that if the Nifty is going to Sustain the Level of 8200-8250 can move upward the 8336-8450. The option call put data also Suggest upward move with most call strike is around 8400 and Put strike at 8000. The Strong Levels for The Nifty for Next week is 8150-8220 is downside and 8350-8380 on upside.

BANK NIFTY : - Bank Nifty is opened in positive note on Monday up by 125 points or 0.70 at 17796.S The Federal Reserve chair woman Jennet Yellen affirmed that the central Bank will not be raising the rate until the uncertainties of the economic outlook. Finance Minister Arun Jaitley reportedly said that the government is looking only at State Bank of India merging 5 subsidiaries as well as Bharatiya Mahila Bank with itself. The Reserve Bank of India may be poised to throw a lifeline to banks by easing tough bad-loan recognition norms, enforced as part of its asset-quality review, following an improvement in the behavior of some big-ticket borrowers, The global rating Agency Moody’s has estimated, The Indian Bank need funding around 1.20 lakh crore in 2020. The Bank Nifty Crucial level for Next week will be around 17700-17560 is down side 17800-18160.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Government will back state-run banks to commercially deal with bad loans - The government will back state-run banks to commercially deal with bad loans that have been a drag on their performance, finance minister Arun Jaitley said."Banks should be empowered and constitutionally protected to conduct commercially prudent settlements," Jaitley said on Monday after a review of the performance of public sector lenders. "Various suggestions have come up for empowering the banks, functioning in an environment, so that they can deal with the situation he said.Bankers will thrash out the framework needed to shield them from decisions on haircuts and the government is fully committed to support the banks in this regard, the minister said.

India pitches for rating upgrade with Fitch - India has pitched for a ratings upgrade with global agency Fitch Ratings, citing improvement in macroeconomic conditions and the government's commitment to fiscal consolidation."We highlighted the overall economic situation and in all the major sectors the challenges which the economy faces and what is the outlook for next year," economic affairs secretary Shaktikanta Das said after a two hour meeting with the representatives of the agency. Fitch Ratings had in December affirmed India's BBB- rating with a stable outlook, and has forecast 8 per cent growth for 2016-17. BBB- is the lowest investment grade and just a notch above junk grading. Chief economic adviser Arvind Subramanian had earlier said the government has pitched for a rating upgrade with Fitch, stating finance ministry is committed to fiscal consolidation path.

Global wealth managers cannot grow without including India: Report - Global wealth managers cannot expand without including India in their growth story as strong GDP growth rate, a huge young population, and an under-served market make it attractive for the segment, says a report."In an economy like India, that has a huge mid- to low-income group, wealth managers simply cannot think of expansion without including them in their growth story," said a Price water house Coopers report titled "Sink or swim: why wealth management can't afford to miss the digital wave". "Strong GDP growth rate, a huge young population, and an under-served market make wealth management an attractive segment in India," Vivek Belgavi, Partner, Financial Services - FinTech and Technology Consulting, PwC India, said on leveraging the technology in wealth management in India.

Speculation on 2nd term for RBI governor Raghuram Rajan refuses to die down - Reserve Bank of India Governor Raghuram Rajan kept the market guessing about his future at the central bank, putting the ball firmly back in the government's court. Governor Rajan came prepared for the question and read out a self-prepared statement to ensure that he didn't fumble for words."It will be cruel of me to spoil all the fun the press is having with all the speculation," Rajan said, with a dash of humour."If you know such cases, the decision is reached after discussion with the government and the incumbent. I am sure you will know when there is news. I will direct you all to the statements of the prime minister and the finance minister. That is all I have to say," he said.

Southwest monsoon to hit Kerala on June 9: IMD - All other criteria being already met, with the expected enhancement in cloudiness over Lakshdweep, the India Meteorological Department says that the onset of the south west monsoon is going to take place by June 9. "In view of strengthening of cross equatorial flow and deepening of westerlies over south Arabian sea and development of feeble off-shore trough along Karnataka-Kerala coast , onset of monsoon over Kerala is very likely by June 9," stated an IMD forecast.

RBI monetary policy: Here's what Raghuram Rajan had to say - The Raghuram Rajan Initial Comments In monetary policy statement of April 2016 we said we will watch macroeconomic and financial developments in the month ahead with a view to responding as space opens up. Incoming data since then show a sharp and unexpected upsurge in inflationary pressures emanating from a number of food items as well as the rise in commodity prices. We expect that a strong monsoon, astute food management as well as steady expansion in supply capacity especially in services could help offset these upward pressures. But, given the uncertainties, the Reserve Bank will stay on hold. However the stance of monetary policy remains accommodative and we will monitor macroeconomic and financial developments finding further scope for policy action. We will shortly review the Marginal Cost Lending Rate framework to iron out any issues and we believe that timely capital infusion into constrained public sector banks will aid credit flows he said.

India to be US$ 5 trillion economy in few years: Arun Jaitley - Finance Minister Arun Jaitley said. Very hopeful of getting the Constitution Amendment Bill on GST passed in the next session of Parliament, Minister of Finance, Corporate Affairs and Information & Broadcasting said, while addressing a very large gathering of Japanese Business leaders at a Seminar titled “India: Investment Promotion Seminar” in Osaka, organized by CII in partnership with the Indian Embassy in Japan, JETRO, Kankeiren, JICA and Osaka Chamber of Commerce and Industry here today. With the kind of reforms that have picked up pace, the Indian economy is well on course to touch USD 5 trillion in size in the foreseeable future, Mr Jaitley said. India’s failure at controlling population has resulted in the creation of a very large and young population, which is not only one of the largest markets of the world, but also a potential supplier of trained and skilled human resources for the world, which is one of the reasons why the size of the Indian diaspora has been increasing in most countries, Jaitley said.



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