TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Market open positive note on monday after losing more than 6 percent in previous week. The Nifty climbed 97.65 points or 1.40 percent to 7078.After a tumultuous ride last week, the market gained strength with support from metals, auto, capital goods and oil & gas sectors mostly. Posting its biggest rally of gain in a month, Global markets are currently in an oversold territory due to concerns regarding commodity prices, muted emerging markets economic growth, and slowdown in China, The China central bank fixed the yuan sharply stronger, easing fears of depreciation, Oil briefly rallied in the overnight session after Saudi Arabia, Russia, and Venezuela lead an effort to freeze output at January levels, dashing hopes of a cut in production. Due to sluggish demand and concerns over the global economic outlook. However Chinese markets will remain volatile for next 3-4 months. It is a sea of red across Dalal Street from Tuesday as investors gear up for Union Budget .The crucial levels for Nifty is 6700 down side and 7200 is Up side the weekly Resistance for Nifty is 7269-7409 and the weekly Support is 7129-6989.


BANK NIFTY : - The Bank Nifty open in Positive trend on Monday trading session at 15206 up by 44 points or 0.6 per cent. The Bank Nifty is currently trading at 14425 up by 442 point or 3.17 per cent. Bank shares have remained a pain point for the stock market over the past one year – set by NPA issues and weak credit demand –State-run banks like SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra Modi of rising bad loans, capital requirements of state-run banks and the impact of bad loans on their profitability were discussed. We are expecting the positive movement for Bank Nifty in upcoming weeks. The Support for Bank Nifty Is 14320-13800 and Resistance is 14600-15020.

NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
PM calls Rajya Sabha, Lok Sabha leaders to discuss Budget session - Prime Minister Narendra Modi has called for a meeting of leaders from major political parties to seek their cooperation for the smooth running of Parliament during the Budget session beginning next week. The Budget Session of the Parliament will begin on February 23. The first session will continue till March 16 the second session will take place from April 25 to May 13.

New crude import policy for spot purchases soon: Oil Minister - Union Minister for Petroleum & Natural Gas, Dharmendra Pradhan on Monday said that his ministry will soon move a cabinet note on crude import policy that will do away with tendering and allow spot purchases. Under the tendering route, the country normally pays higher prices and suffers delays while a system of spot purchases will ensure better delivery at lower prices.

Draghi says ECB won't hesitate to act in March - The European Central Bank will not hesitate to act to boost its stimulus in March if it believes that recent financial-market turmoil or lower oil prices could weigh further on consumer prices, ECB President Mario Draghi said on Monday.“The ECB is ready to do its part,” Draghi told the European lawmakers in Brussels. Last month, Draghi had stated that the central bank would review and possibly reconsider stimulus to drive up stubbornly low inflation.

Raghuram Rajan says not in favour of undervaluing exchange rate - The Reserve Bank of India and the government don’t favour undervaluation of the exchange rate, RBI Governor Raghuraman Rajan reportedly said. “There are those who argue that in countries such as China, Japan and Korea business enterprises grew via an undervalued exchange rate,” Rajan was quoted as saying at the India MSME Summit-2016. The exchange rate will not be a source of either comparative advantage or disadvantage, Rajan said. Rajan reportedly said that RBI wants the exchange rate to be reasonably predictable and reasonably stable.

ASSOCHAM Reaction: WPI for January 2016 - Apex industry body ASSOCHAM today said that fall in continuous fall in India’s wholesale prices is in line with industry’s


expectation due to multiple factors like decline in prices of crude oil and other commodities, global weak demand, negative sentiments resulting from global economies such as China and Japan, continuous decline in exports and others.

FIPB approves 10 FDI proposals worth Rs. 607 crore - FIPB on Monday approved 10 FDI proposals worth Rs. 607 crore, says report. FIPB also approved Glenmark Pharma, Cipla, DEN Networks' FDI proposals.
While FIPB defered 8 & rejected 5 FDI Proposals.

Non-tax receipts top Rs 2 lakh crore: Finance Ministry - Government has collected over Rs 2 lakh crore as non-tax receipts in the current fiscal, with biggest pie coming from the dividends paid by state-owned firms and the Reserve Bank. It had budgeted over Rs 2.21 lakh crore for 2015-16 from non-tax receipts, which include dividends, profits and interests receipts. "Annual collection of non tax receipts is over Rs 2 lakh crore. Biggest share flows from dividends paid by Public Sector Undertakings, RBI," a finance minister said.

WPI inflation to inch up to 2% by March 2016, says CARE – Headline deflation witnessed a significant moderation for the fifth consecutive month. WPI was recorded at negative 0.90% for Jan’16 compared with -0.73% in the previous month and -0.95%recorded in the corresponding period of the previous fiscal However, the persistent rise in prices of primary articles for five consecutive months has been the main component building the inflationary pressure.

Chinese companies and banks face rising risks as economy rebalances: S&P - China's growth is steadying and rebalancing, thus shifting the focus to consumption. At the same time, rising credit costs and weakening profitability in China's banking sector are tightening liquidity for weak corporate borrowers. Can consumption stay strong and how will this affect China's central and regional governments, financial institutions, and its various industries.

Can FM afford the much-needed rural focus in budget - One thing almost every economist analysts agree in their projections for the Union Budget is that the Finance Minister should turn his focus on the rural sector this time around after two years of failed monsoon, which along with a slowdown in the government's flagship scheme MNREGA




and slower rise in minimum support prices for agro-commodities left the rural economy in the shambles, drying up demand for consumer durables and bikes and cars, which has in turn hit toplines of a vast part of India Inc.

FIIs sell shares worth Rs. 1,123 crore; 2016 net selling reaches US$ 2.1 billion - In the wake of rising uncertainty over the health of world economy, the foreign investors continued their net selling in Indian equities on Tuesday, which dragged the equity market. According to the Central Depository Services India Ltd data, the Foreign Portfolio Investors were net sellers to the tune of Rs. 1,123.05 Crore in equities on Tuesday. FPIs were net sellers of Rs. 526.82 crore in debt segment. This made their total net selling in Indian securities market to Rs. 1,649.87 crore in a single day.

Moody's sees India's GDP growth at 7.5% in 2016-17 - Moody's reportedly said it expects that the government will cut spending to maintain deficit in line with 3.5% of GDP. Moody's forecast stable GDP growth for India at around 7.5% in 2016-2017. The firm warned the generally robust economic environment is constrained by “banks’ balance sheet repair, says report. Moody's said that India's economy is powered by sustained growth in consumer spending.

US cos may line up $27 billion investments in India in two years: USIBC - American companies invested an over $15 billion ever since the Narendra Modi government came to power and are expected to further increase the investments by $27 billion in the next two years, according to US-India Business Council (USIBC). "The reforms undertaken by India in the last two years under Prime Minister Modi's leadership are resonating very well with the US companies," USIBC President Mukesh Aghi said today.

Make In India Week: Rs. 15.2 lakh crore commitment by corporates - First ever Make In India Week in Mumbai with the biggest show of manufacturing prowess, concluding on a high note. Created avenues for showcasing, connecting and collaborating for manufacturing in India Promoted an Investment enabling environment Provided encouragement to to Design, Innovation, Youth and Startups Provided a platform where global CEOs, think tanks, policy makers, Diplomats and Political leaders converged Addressing the Closing Press Conference in Mumbai, the Make In India Week witnessed a business commitment of Rs 15.20 lakh crore in investment.




TOP ECONOMY NEWS
India's exports in January fell 13.6% from a year earlier to $21.07 billion, declining for the 14th consecutive month; contraction in imports narrowed the trade gap to an 11-month low.

Wholesale price inflation touched -0.90% in January, compared with -0.73% in the previous month, holding in the negative zone for 15 months in a row, showed official data released on Monday.



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