TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : The Market started off week on a flat-to-positive note. The Nifty advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of market-moving economic data due this week. The US market ended marginally higher on Friday amid rebound in crued oil prices. Investor sentiment was hit by low expectations from the earnings season that is set to kick start with IT giant Infosys on Friday. There is very high probability that we may see choppy action going forward. At least for the next few trading session. Domestic equity witnessed a Subdued start on Tuesday trading session on mixed Asian Cues, On Wednesday The Nifty50 was trading at 7,799 up 90 point or 1.17 per cent. The Rally in market was largely led by surplus monsoon Forecast by the whether department this year after two consecutive droughts. The Economic data released too influenced the market sentiment factory output grew by 2 per cent and retail inflation dropped to 4.83 per cent in march from 5.26 in last month. The crucial levels for Nifty is 7880-8000 up side and 7800-7750 in down side.

BANK NIFTY : - The Bank Nifty Open positive on Monday at 15623 up by 55 points or 0.35 per cent. The Reserve Bank of India Governor Raghuram Rajan said the interest rate are now significantly lower and will continue to be so. The Banks having retail focus are expected post better financial results in the fourth quarter ended March 31. The Supreme Court expressed concern over the “ substantial” bad debt burdening the country’s banks and asked the Reserve Bank of india what it was doing as regulator to ensure that dues were being recovered and not piling up. It also pushed the central bank to reveal the total amount of such non performing assets, The Bank Nifty closed in a positive note last week and we are expecting if it is able to sustain the level of 16300 we may witness the forward movement. The Strong Support for Bank Nifty is 16150-15900 and Resistance is 16500-16460.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
PMO push: Commerce Ministry plans to set up dedicated team for trade talks - The commerce department is considering setting up a specialised team to negotiate international trade deals. The move follows a nudge from the Prime Minister's Office amid concerns that India is not moving fast enough on its free-trade agreements and that it could have got a better deal on some of the pacts. At a recent meeting with senior officials from other ministries and departments, the PMO discussed the idea of building a team comprising officers from foreign services and trade lawyers official said consensus was reached in the issue in the meeting.

Govt may form panel to clear PSBs' bad loan mess - The Government is considering forming a three-member committee to approve the bad loan settlement plans of public sector banks. The move comes after the Centre's bid to clean up the bad-loan mess and give PSBs a fresh start didn't elicit an enthusiastic response, according to source. Bankers are not keen on a one-time loan settlement that involves taking a haircut, fearing investigating agencies will come after them, Source. The panel will consist of an ex-Supreme Court judge, a former chief vigilance commissioner and a retired official of the Comptroller & Auditor General. Banks can approach the panel with settlement proposals for approval and execute them without fearing action against them, a top government official told. The Non- Performing Assets of Public Sectors Banks more than doubled to 6.7 % at the End of Dec 2015 from 3.22 at the end of FY 13.

ASSOCHAM asks banks not to get swayed away by shrill in Mallya case - Impressing upon the banks not to get swayed away by the shrill of public discourse against the purported willful defaulters, apex industry body ASSOCHAM today said that offer made by industrialist Vijaya Mallya should be considered carefully before rejecting it, because his offer does convey his “intention” to repay the loans taken from the public sector lenders. “With so much shrill on the wilful defaulters, the banks and their principal shareholder, the Government of India, should take a dispassionate view of the case rather than being influenced by the media reports which at times get exaggerated in the ‘right-or-wrong ’ debate,” ASSOCHAM Secretary General D S Rawat said in a statement. He said, the main concerns for the banks ‘ consortium should be recovery of its assets which have become NPAs and all genuine efforts must be made towards that end.



India Inc set to post best EBIDTA growth in six quarters: CRISIL Research - CRISIL Research, India’s largest Independent and Integrated research house, expects India Inc to report EBITDA growth of ~7% for the quarter ended March 31, 2016. That will mark the fastest growth in six quarters, driven by higher gross margins derived from lower commodity prices. Revenue growth would, however, remain lacklustre at ~2% because of low commodity prices, weak investment demand, patchy demand recovery and low pricing power because of competition.The analysis is based on 600 companies that account for ~70% of the market capitalisation of the National Stock Exchange.

Government ability to prioritize the Reforms like GST will aid economic Recovery : Arun Jaitley - India stands amid the most crucial phase of structural reforms since the signifcant reforms undertaken 25 years ago. Economic revival is likely given that the government is pressing ahead with its reform agenda, says Finance Minister Arun Jaitley in an interview. The upcoming second half of the budget session of Parliament would see the government magnifying emphasis on reforms such as goods and services tax legislation, bankruptcy code, and amendments to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act and prevention of corruption law, he said. FM Jaitealy clarifies that GST should be done via consensus since its implementation would entail everyone involvement including congress , Government as per the Report.

IMD forecasts well-distributed rains, kindling hopes of economic revival - The weather office has forecast surplus, well-distributed monsoon rainfall this year after two consecutive droughts, cheering farmers and kindling hopes that the surge in rural demand after the expected good harvest will propel economic growth. The promising outlook from the country's most respected weather forecaster came along with encouraging data showing that consumer inflation had fallen below 5% while industrial output had bounced back after contracting for three months. This is expected to boost the demand Economic and Business sentiments after a long phase of farm distress Distress and overall demand slump. The India Meteorological Department said the monsoon will deliver 6% surplus rain in its fabled four-month journey from the Kerala coast to the lofty mountains in Kashmir.



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