TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : The Market has opened in Green on Monday. The 50 Shares Nifty is up by 26 points or 0.3 per cent at 7841. With some Global and Domestic cues. The Govt has cleared the double tax pact with Mauritius to invest in the equity market. The Chinese data indicate that the Chinese economy is Stabilizing. The MeT department predicted that arrival of monsoon over the coast of Kerala is likely to be delayed by a week. US retail and consumer confidence data shown highest of 13 month indicating the Fed rate hike possibility. From Domestic Front Exit polls on Monday shows that the big win for the BJP in Assam, Expecting the same thing from west Bengal, and some Tamil Nadu , And Kerala. The market has shown some positive movement after Monday losses. The Nifty trend is seems mixed in technical chart , Nifty is trading in the range of 7850-7940. The market is above it’s median term support levels. The inherent bullishness of the market has reached precipitous levels with expecting higher level of Nifty in near term. The Strong Support for Nifty50 is 7800-7750 and Resistance is 8080-8130.

BANK NIFTY : - The Market has opened in Green on Monday. The 50 Shares Nifty is up by 26 points or 0.3 per cent at 7841. With some Global and Domestic cues. The Govt has cleared the double tax pact with Mauritius to invest in the equity market. The Chinese data indicate that the Chinese economy is Stabilizing. The MeT department predicted that arrival of monsoon over the coast of Kerala is likely to be delayed by a week. US retail and consumer confidence data shown highest of 13 month indicating the Fed rate hike possibility. From Domestic Front Exit polls on Monday shows that the big win for the BJP in Assam, Expecting the same thing from west Bengal, and some Tamil Nadu , And Kerala. The market has shown some positive movement after Monday losses. The Nifty trend is seems mixed in technical chart , Nifty is trading in the range of 7850-7940. The market is above it’s median term support levels. The inherent bullishness of the market has reached precipitous levels with expecting higher level of Nifty in near term. The Strong Support for Nifty50 is 7800-7750 and Resistance is 8080-8130.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Onset of monsoon over Kerala likely to be delayed by a week - The onset of the Southwest monsoon over Kerala is likely to be delayed from the normal date of June 1. The Weather office said, The first negative signal since it forecast about the normal rain fall this season after two consecutive years of drought. The Statistical model used by Indian Meteorological Department for predicting the onset of monsoon indicates the southwest monsoon likely to set over Kearala on June 7 , With a model error ± 4 days. Indian Meteorological Department said on Sunday.

RBI, Finance Ministry share a mature relationship : Arun Jaitley - Regarding the speculation about a possible second term for Reserve Bank Governor Raghuram Rajan, Finance Minister Arun Jaitley declined to be drawn into the matter, according to reports.Jaitley stated that there is a "mature relationship" between the central bank and the government. We at the highest level, at the two institutions, have discussions and each consider each other's views and observations, FM added.On May 13, Rajan had said that he has enjoyed every moment of the job, but there is "more to do".

Growth Recovery in India becoming more broad-based: Morgan Stanley - Growth recovery in indian economy is becoming more ‘broad based ‘ with rise in Public sector capital expenditures and Foreign Direct Investment say Morgan Stanley in a report. Also going forward the consumption Growth is expected to pick up further. According to Global brokerage the Recovery in growth is becoming more broad based because of Public sector capital expenditure in Rural and Urban Area as well.

Indian Economy estimated to register 7.6 % growth in FY 16 : Arun Jaitley - The Union Finance Minister Arun Jaitley said that the Indian economy is estimated to register 7.6% growth in 2015-16, notwithstanding contraction of global exports and two consecutive years of shortfall in monsoon. Amid weaker outlook across the globe, he said that India experience of strong economic growth, comfortable price situation, low Current Account Deficit, and adherence to path of fiscal recovery have projected it as an outpost of opportunity for global investors. The Finance Minister Jaitley was speaking at a meeting with a group of Executive Directors of the World Bank Group here. The discussions held ranged from the performance of ongoing World Bank Projects in India to various policy issues related to the World Bank Group financing.

P-Notes , Mauritius Treaty will not impact FPIs, Says Jayant Sinha - Investors need to merely tweak their hedging strategy and not get too concerned over the change in participatory note rules by Securities and Exchange Board of India, Jayant Sinha , minister of state for finance, told a clutch of leading foreign portfolio investors on Thursday.Sinha along with Revenue Secretary Hasmukh Adhia were part of a conference call organized by Goldman Sachs for FPIs and their advisors. He stressed that the contracts signed by investors for P Notes are very flexible and the new Sebi regulations would not impact that," said "He was of the view that the P Note announcement doesn't change anything for the FPIs ," he said.

Q4 Banking Woes : Gross NPAs of 27 banks touch Rs. 2.49 Trillion - The ghost of Non Performing Assets continued to torment Indian banking sector in the quarter ended March 31, 2016. 27 out of 40 banks have announced their Q4 FY16 financial results so far and their combined gross NPAs grew 54.64% from Rs. 1,61,297 crore reported to touch Rs. 2,49,439 crore in Q3 FY16. Among public sector banks, 11 banks ’ combined gross NPAs were Rs. 2,01,318 crore for Q4 FY16, as against Rs. 1,21,720 crore in Q3 FY16, reflecting a sharp rise of 65.39% QoQ. Till date, gross NPAs of 11 private sector banks surged 21.58% to Rs. 48,121 crore for the quarter ended March 31, 2016 as against Rs. 39,577 crore reported in September -December 2015 period.

Britain exit from Europe Union can Open Opportunity for India: Report - An exit of Britain from the European Union , referred to as ' Brexit ', will create a lot of uncertainty within Europe, but can open up opportunities for India, says an SBI research report. British public will vote in a referendum on June 23 to decide whether the country will remain a part of the 28-nation bloc. According to the report by the SBI Economic Research Department, Brexit may actually strengthen India's position as a truncated EU may have to rework its negotiation strategy in order to gain market access. "This referendum will have geopolitical implications and will affect the relation of the rest of the world with Europe. But, our take is that though such an exit brings up a lot of uncertainty within Europe, it definitely opens up opportunities for India," the SBI report said.

HSBC Upgraded India to Neutral from Underweight - Global investment house, HSBC has upgraded India to 'neutral' from 'underweight' based on high-frequency economic numbers which suggests that growth might improve in second half of 2016, while normal monsoon is expected to boost rural demand. The global brokerage house has also raised Sensex target to 26,000 from 25000, based on valuation of 16 times price to earnings multiple for 2017. Sensex gained 163 points or 0.64 per cent to close at 25,653. Nifty advanced 46 points or 0.59 per cent to end at 7,860, above the psychological level of 7,800 mark, this may also add much needed confidence to the traders, and give renewed vigor to the bulls on D-Street to target 8,000 mark said HSBC.

India should resist being too ambitious about growth:Rajan - RBI Governor Raghuram Rajan reportedly said India should restrain itself from being “too ambitious” at a time when the world is full of uncertainties. “Given great uncertainty about outlook and policies of others in these times, a country like India should try to take sensible measures without getting too ambitious, Rajan was quoted as saying. Rajan stated that this will serve as a sound basis for strong and sustainable Indian growth as the world economy picks up.Rajan added that the world is growing “extremely slowly”, with the factors differing from one country to other, says report.

✍ TOP ECONOMY NEWS
Union Labour Minister has said the Employees Provident Fund Organisation may invest more than Rs. 60 billion in equity market during the current financial year.

Investors must pay taxes on money they earn in India and the domestic economy is now strong enough to depend on any "tax-incentivised route" to attract foreign investments, said Finance Minister.



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