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 15735 up by 81 points or 0.61 per cent . The rally in the Bank Nifty come from the Govt. Support toward the Public Sector Banks. St. Louis Fed chief James Bullard wants the US Federal Reserve to press the button on further rate liftoff as he feels the US central bank has largely met its goals on the employment an and inflation fronts . Traders and speculators in the futures market have started initiating fresh long positions on Nifty Bank, 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 16200-16475 and Support for Bank Nifty is 15635-15000.

NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Call drop case: TRAI to comply with Supreme Court order - The Telecom Regulatory of Authority of India , reportedly, said it will comply with Supreme Court order asking to consider the amendment of penalty based on technical aspects of call drops. TRAI Chairman RS Sharma said, "Whatever has been ordered by the Supreme Court shall be complied with." Supreme Court on March 17 asked TRAI to review call drop penalty regulation in view of technical issues. The apex court has asked the regulatory body to base their stand considering the papers dealing with technical aspects of call drops.
India must move to a lower interest rate regime: Arun Jaitley - Finance Minister Arun Jaitley defended the move to cut interest rates on small saving schemes saying that the country has to move to a lower interest rate regime to steer the economy towards a more efficient path of growth. In the direction that the economy is following, there cannot be a situation where the bank lending rates have to come down but the deposit rates are high. They both are linked,” Jaitley said at a press conference in New Delhi.
WPI down for 18th consecutive month, Fed maintains status quo - The Indian equity markets just about managed to extend its winning streak to the third consecutive week. Hopes of interest rate cut by the RBI in its next meet, rising crude oil price and decision of Fed to keep interest rates unchanged brought some cheer on the bourses. Fed scaled down its forecast for the number of rate increases to two in 2016 from an earlier projection of four. Spurt in crude oil prices which rose above US$40 per barrel for the first time since Dec. 3 enthused the participants too. Expectations are major producers will announce an output freeze on April 17 in Doha. The Indian currency continued to show strength against the US Dollar. It was down by 0.7% during the week. Wholesale prices fell for the 16th straight month in February, with WPI declining 0.91% compared with a 2.61% fall in the corresponding period of the previous year.
World is facing increasingly dangerous situation - Raghuram Rajan - RBI Governor Raghuram Rajan said the world is facing increasingly dangerous situation and a new international agreement on the lines of Bretton Woods is needed to prevent central banks. We will eventually require a new international agreement along the lines of Bretton Woods, and some reinterpretation of the mandates of internationally influential central banks, Rajan said. Rajan added that central banks in developed countries find all sorts of ways to justify their policies , We can pretend all is well with the global monetary non-system and hope that nothing goes spectacularly wrong, Rajan said.
Indian economic growth expected to improve to 7.7% in FY17: ICRA - The fresh project pipeline appears robust, commencement of work will lag announcements, given moderate capacity utilization in some sectors. A sizeable portion of the planned rise of Rs. 1.2 trillion in Central Plan Outlay in 2016-17 is to be funded through extra-budgetary sources, progress on which will influence the pace of infrastructure augmentation and economic growth. In ICRAs view, Indian economic growth is expected to improve to 7.7% in FY17.
GST to push India's economic growth rapidly: Vijay Kelkar - The introduction of Goods and Services Tax is an important reform which will lead India into next rapid phase of economic growth, said former chairman of 13th Finance Commission Vijay Kelkar. "The most important reform will be GST which will bring this country as one market. Launching of GST has taken us into next very rapid phase of growth," Kelkar, said. The major central and state taxes will get subsumed into GST which which will reduce the multiplicity of taxes, bringing down the compliance cost. With GST, the burden of Central sales tax will also be phased out.
Government looks to tap idle cash of PSUs - The government has begun a mega exercise to get public sector companies to buy back their shares and take a slice of the estimated Rs 2.6 lakh crore lying idle with them. Although the move is meant for the government to raise more resources, one of the objectives is to get state-run companies, including unlisted ones, to leverage their balance sheets better and raise more loans from the market. While a list of companies is being prepared based on their capital expenditure plans, sources said the focus is on companies which are just sitting on a cash pile. In addition, companies which have high cash and low debt are the other focus area. "Some of our PSUs have traditionally been conservative and have not relied much on market borrowings. But, greater market borrowings also increase scrutiny , which is often desirable," said an officials.
Performance of Non-Govt Non-Banking Financial and Investment Companies, 2014-15: RBI - The Reserve Bank of India released the data related to the performance of Non-Government Non-banking Financial and Investment companies for 2014-15. The data have been compiled based on audited annual accounts data of 23,293 companies. data pertaining to 22,899 companies are based on Ministry of Corporate Affairs systems , data for 363 companies are as collated by Department of Statistics and Information Management, Reserve Bank of India,while the data for the remaining 31 companies are obtained from Capitaline Plus data Services, which closed their accounts during the period April 2014 to 2015. The data draw a comparative picture over the three years period 2012-13 to 2014-15 based on a common set of companies. Explanatory notes pertaining to statements are given at the end. According to the provisional estimate of population paid-up capital supplied by MCA, GoI, the select 23,293 NGNBF&I companies accounted for 77.8 per cent of all NGNBF&I companies as on March 31, 2015.
RBI to cut rates by 25 bps on Apr 5, 50 bps in FY17: BofA-ML - Reserve Bank is likely to go for a 50 basis points rate cut next fiscal year and out of this 25 bps cut may be affected in the policy review meet next month amid slackening economic recovery, says a report. The financial services major said it estimated that old GDP growth slipped to 4.6 per cent in the December quarter, well below our calculated 7-7.5 per cent potential. Our lead industrial indicator is slipping as industrial production contracted for three consecutive months through January.Declining inflation and negative industrial outlook have strengthened a case for RBI cutting interest rate in its first bi-monthly monetary policy for 2016-17 on April 5.
FM Jaitley: interest rates in India are "extraordinarily" high - Finance Minister Arun Jaitley stated that the interest rates in India are "extraordinarily" high, as per media reports. Jaitley reportedly said that the existing tax-free interest rate of up to 8.7 per cent on small saving instruments translates into an effective interest of 12-13 per cent on deposits The government had announced cut in interest rate on PPF to 8.1%.


✍ TOP ECONOMY NEWS
India's foreign exchange reserves surged by $2.54 bn to $353.40 billion , according to RBI.
RBI said that the foreign currency assets stood at $329.99 billion on March 11.

Foreign Investment Promotion Board out of 33 foreign investments proposals received gave a nod to 15 FDI proposals worth Rs. 7,261.6 crore on March 7.



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