TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : The market has opened on a strong note Monday. The Nifty is up 51 points or 0.7 percent at 7561. Equity benchmarks remained strong in morning trade following positive global cues. as traders began to take a more positive view of the European Central Bank's monetary policy decision last week. The India's industrial output during January contracted, The Government is hopeful of passing the GST bill in the second half of the budget session, Reserve Bank Governor Raghuram Rajan said the economy is recovering, but the process of recovery is volatile. The European Central Bank's decision to expand its balance sheet is a welcome move and would fuel a short-term rally in equity markets across the globe. The Federal Reserve decision on Wednesday to hold rates steady and pencil in fewer rate hikes reflects a central bank feeling its way through tremendous uncertainty. Now the focus will shift to local issues such as earnings, corporate performance, RBI april policy move, The domestic risk of environment right now has become normal and neutral environment and may be now we will start seeing some money flows towards emerging market. The crucial levels for Nifty is 7480-7300 downside and 7670-7860 is Upside.

BANK NIFTY : - The Bank Nifty opened higher on Monday at 15309 up by 141 points or 0.97 per cent . The rally in the Bank Nifty come from some announcement in favour of the Banking Industry. The Federal Reserve and Bank of Japan decided to keep their monetary policy steady rather than increasing its firepower. Traders and speculators in the futures market have started initiating fresh long positions on Nifty Bank, ahead of RBI's money policy review.The Reserve Bank of India April policy move can be positive for the market there is a possibility of rate cut by RBI so rally in Bank Nifty will be continue , The Resistance for Bank Nifty is 15806-16230 and Support for Bank Nifty is 15376-14940
NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Parliament panel on land bill to meet on Monday - A Parliamentary panel is expected to meet on Monday to discuss the controversial land acquisition bill of 2015, The Joint Committee on the Right to Fair Compensation & Transparency in Land Acquisition, Rehabilitation and Resettlement Bill 2015, headed by BJP MP S.S. Ahluwalia will take a view on the remaining clauses of the bill. The NDA Government is hopeful that a consensus will emerge on all issues related to the bill, The committee has already been given at least five extensions.
Manufacturing projects with investments worth over Rs 12 lakh crore under implementation - Projects with investments worth just Rs 1.6 lakh crore i.e. a meagre 11 per cent of total investments worth about Rs 15 lakh crore announced in manufacturing sector across India have actually been recorded as of September 2015, according to a recent study by ASSOCHAM.“Manufacturing sector in India attracted live investments worth about Rs 33 lakh crore about one-fifth of the total live investments worth over Rs 164 lakh crore attracted by various sectors across India as of September 2015, noted the study titled‘Impact analysis of delay in investment implementation in manufacturing,’ conducted by The Associated Chambers of Commerce and Industry of India.
Global economy finding it hard to restore pre-Great Recession growth rates: Rajan - RBI Governor Raghuram Rajan said in speech at First Ramnath Goenka Memorial, New Delhi. The global economy is finding it hard to restore pre-Great Recession growth rates–every report of the IMF seemingly downgrades its previous growth forecasts. Why has the recovery been so slow, The immediate answer is that the financial boom preceding the Great Recession left industrial countries with an overhang of debt, and debt, whether on governments, households, or banks, is holding back growth. While the remedy may be to write down debt so as to revive demand from the indebted, it is debatable whether additional debt fueled demand is sustainable. At any rate, large-scale debt write-offs seem politically difficult even if they are economically warranted.
India won’t remain insulated from global volatility: IMF Chief - India is currently under the wings of its robust current account position, the country would not remain unbrushed against any developments taking place across the globe. The fact that global economy is hedged against a recession does not lull the significance of a synchronized policy action across countries, said Christine Lagarde, Managing Director, International Monetary Fund, in an interview. The world’s financial sector is sturdier and prone to rebound, as it was back in 2008, when the world economy had been hit by financial tempests, Lagarde said.
IIP numbers disappointing: Raghuram Rajan - Reserve Bank Governor Raghuram Rajan reportedly said the economy is recovering, but the process of recovery is volatile. "We are in recovery. That's broadly what we said before and by and large, we would stick to that, Rajan said.The RBI chief described index of industrial production numbers released yesterday as "certainly somewhat disappointing", Rajan stated that the growth is "not as strong as we would like as a country. we have to see how it progresses".
Bank of Japan keeps deposit rate unchanged at -0.1% - At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided upon the following. The Bank decided,by an 8-1 majority vote, to set the following guideline for money market operations for the intermeeting period.The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace of about 80 trillion yen. The Bank will purchase Japanese government bonds so that their amount outstanding will increase at an annual pace of about 80 trillion yen.
February CPI Inflation eases to 5.18%; bolsters rate cut hope - India's consumer price index eases to 5.18 percent as compared to 5.69% in Jan helped by a fall in food prices, after edging up for six straight months. Street had forecasted a CPI of 5.53% and were astounded by the 40 bps fall. CPI Food Price Inflation was at 5.30% as compared to 6.85% in January. CPI Rural Inflation was at 5.97% as against 6.32% in January. CPI Urban Inflation was at 4.30% as against 4.81% in January. The General Indices for the month of February 2016 for Rural, Urban and Combined are 127.8, 123.8 and 125.9 respectively. The latest data further adds to rate cut case by RBI after better than expected WPI data.
Real Estate Bill cleared in Lok Sabha and Rajya Sabha - The Lok Sabha approved the Real Estate (Regulation and Development) Bill, 2016. The bill seeks to create a set of rights and obligations for both the consumers and developers and encourage both of them to live up to the expectations of each other as per the agreement entered into by both of them. Moving the Bill pending in Lok Sabha after it got passed in Rajya Sabha on March 6, Minister of Housing & Urban Poverty Alleviation M. Venkaiah Naidu clarified the position on the issues such as how the Bill will be applicable to existing projects.
Remove cess and surcharges as effective tax on corporates above 34 %: ASSOCHAM - Making out a strong case for removal of cess and surcharges of various types, the ASSOCHAM has approached the Finance Ministry for a clear road-map for reduction of corporate tax to 25 per cent, which is effectively over 34 per cent at present. In a post-Budget memorandum to the Finance Ministry, the chamber said the surcharge and education cess was originally introduced for a short period of time but the same is being continued from year to year. This has pushed up the overall tax rate sharply for the corporate sector to 34.608 per cent.


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