TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The benchmark Nifty 50 opened on flat basis on Monday down by 2 points at 8670. On Monday the Nifty closed almost flat as inflation spike dashed immediate October rate cut hopes by RBI, As we have seen the Nifty 50 remained sideways in the whole month of August, The range high of Nifty 8750 has become a peak which the bulls despite their best efforts are unable to breach. The Foreign Institutional Investors have buyers in both cash derivatives Segment this helps Nifty to Sustain the level of 8650. Now all eyes on the Federal Reserve Open Meeting Committee to have an idea about different Fed members thinking about health of US Economic recovery and risk Factors for the Global Economy. We are expect that the Nifty50 is in buy mode with strong Support seen at 8650. Now For Any strength the Nifty has to Sustain the level of 8650-8680 for the target of 8720-8780 in near term. The Crucial levels for Nifty is 8680-8700 is upside and 8600-8550 is down side.

BANK NIFTY : - The Bank Nifty opened in a Positive bias on Monday up by 66 Points or 0.34 percent at 19029. The Banking sector’s Net Performing Assets almost doubled to 8.5 percent in the first quarter of this fiscal, driven by surging bad assets of state run lenders. The spike was largely due to the doubling of NPAs at Public sector banks to 10.4 percent compared to 5.3 percent in June 2015. Although the RBI has taken various steps to overcome the issue of NPA’s. The Board of Country largest lender State Bank of India has approved merger of its Associates along with Bhartiya Mahila bank. As we have seen that the Bank Nifty has traded in the range 18900-19400 in the last week. Now Break above 19440 could lead the Bank Nifty toward the levels of 19500-19800 in near term. The Crucial levels for next week is 19450-19600 is up side and 19250-19050 is down side.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Government expects tax revenues to increase after GST roll-out - The government expects its tax buoyancy to increase after the goods and services tax is rolled out, a sharp contrast to many experts warning of disruptions in tax machinery and slower revenue growth in the initial years of this tax reform. In the medium term expenditure framework released last week the government expects higher economic growth, GST and other policy measures to help lift gross tax revenues to 10.9% of gross domestic product in FY18 and 11.1% of GDP in FY1 of GDP in FY19. The Centre's tax-to-GDP ratio was 10.7% in FY15, almost same as projected 10.8% for the current fiscal. With plan and non-plan distinction being done away with from next financial year, the government expects to bring more attention to capital spending. It wants to set aside more funds for capital spending and expects to show a higher allocation from next fiscal.

Overall global investment in fintech companies totaled $ 99.4 billion, shows report - Global investments in fintech companies across both venture-backed and non-venture-backed companies totaled $ 9.4 billion in the second quarter of this year, says a report. However, investment directed to VC-backed fintech startups fell 49 per cent, the report said. According to the Pulse of Fintech, the quarterly global report on fintech VC trends published jointly by KPMG International and CB Insights, despite this decline, VC investment in investment in fintech is on pace to exceed 2015 results. "Despite VC-backed funding to fintech decreasing in Q2, overall fintech funding remains on track to surpass 2015 levels," says Ian Pollari, Global Co-Leader of Fintech, KPMG International Funding and deal activity to VC-backed fintech companies in the first six months of 2016 are on pace to hit $14.8 billion across more than 820 deals by the end of 2016 at the current run rate.

Inflation to remain up this fiscal: Kotak Institutional Equities - inflation is expected to continue its rally through the rest of this fiscal, and while WPI is likely to average 3.9 per cent, CPI will average close to 5 per cent in 2016-17, says a report. According to a report by Kotak Institutional Equities, with favourable monsoons, there is likely to be a correction in food prices though headline inflation will continue to trend up through the rest of the current fiscal. July WPI inflation surprised on the upside with 3.55 per cent after 1.62 per in June. "This was the fourth consecutive positive reading after almost 1.5 years of contraction and we expect this trend to continue over the next few months," Kotak Institutional Equities said in a research note adding, "we expect WPI inflation to average 3.9 per cent in this fiscal against (-)2.5 per cent in 2015-16 fiscal".



For Quick Trial – 08962000225
Or mail us here: [email protected] or visit http://www.ways2capital.com/free-trial.php
Contact 0731-6626222
Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
For Reports And Tracksheets - http://www.ways2capital.com/downloads.php