Equity Research Report 31 August 2015 Indore Ways2Capital

INDORE, India - Aug. 31, 2015 - PRLog -- TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Nifty futures/Bank Nifty futures market closed on 8014/17249 . According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 7927 will be small support for Nifty futures and 16946 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 7685 level and Bank Nifty futures can touch 16083 level in next few days. It will be hard support for Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8140 for Nifty futures and 17708 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8359 and 18623 for Bank Nifty futures.

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

✍RBI can use Forex reserves to reduce volatility: Raghuram Rajan - The Reserve Bank of India will not have any "hesitation" in using foreign exchange reserves to reduce currency volatility, governor Raghuram Rajan reportedly said.Rajan added that India's macro-economic problems were "under control" although the country would need to focus on increasing domestic production as an effective way.The central bank's priority remained to help economic growth by bringing down inflation along a "glide path", says Rajan.

✍ Oil exploration stocks sink to record lows - Oil exploration stocks continue to sink deeper to lower levels on the back of relentless selling pressure in the market as Crude Oil prices extend its record breaking losing streak as world economic slowdown looms.The NYMEX Crude Oil futures for October expiry are quoted at $ 39.47 per barrel, down as much as 2.5 percent in Asian trades. The contract touched a low at $ 39.01 so far. The Brent October futures too are down 1.5 percent at $ 44.25 per barrel.Just a year ago, the Crude Oil futures were trading above $ 100 per barrel.The major oil exploration stocks are currently trading at multi-year lows. ONGC, Aban Offshore and Cairn India have tumbled over 5 percent each to Rs. 243, Rs. 262 and Rs. 135, respectively.Hindustan Oil Exploration has plunged over 4 percent to Rs. 36.50, and Oil India has dropped over 3 percent to Rs. 442.

✍ Alembic Pharma gains 1% after getting approval from USFDA - Shares of Alembic Pharmaceuticals Ltd were trading higher 1% at Rs. 671.50 on BSE today. The pharma company gets approval for anti-inflammatory drug Celecoxib, as per media reports.The stock opened at Rs. 676 as against the previous close of Rs. 667.95 on BSE. It has hit a high of Rs. 723 and a low of Rs. 671 on BSE today.Total traded quantity on the counter stood at over 8637 odd-shares on BSE.

✍ SEBI Board approves new norms for commodity derivatives - Market regulator SEBI on Monday announced new norms for commodities derivatives market under which exchanges and brokers will need to comply with rules applicable to stock brokers.The new regulations will be effective September 28, the date from which SEBI would begin regulating the commodity derivatives market.The new norms, approved by SEBI's Board on Monday, will enable integration of commodities derivatives and securities trading in an orderly manner.SEBI said that the new regulations provide for compliance of the Securities Contracts Regulation Regulations, 2012, which are currently required to be complied with by stock exchanges.The major compliances include norms related to net worth, shareholding norms, composition of board, corporatization and demutualization and setting up of various committees, turnover, infrastructure, etc.To ensure a smooth transition, SEBI has prescribed specific timelines for complying with the different provisions of the regulations.

✍ DLF raises Rs. 375 cr from NCD - DLF on Monday raised INR 375 crore through non-convertible debentures as the realty major tries to boost internal cash flows amid a sluggish property market.Earlier this month, DLF had raised INR 1,000 crore through NCDs, the company's first capital market issuance since getting a relief from the Securities Appellate Tribunal.DLF said that it has allotted 12.25% privately placed fully-paid non-convertible debentures of a principal amount of INR 375 crores...redeemable for cash at par in separate series within a period of 4 years 11 months and 18 days from the date of allotment.These debentures would be secured by certain immovable assets of DLF's wholly-owned subsidiary and will be listed on the Bombay Stock Exchange.Over the last few years, DLF has raised INR 100bn through the sale of non-core businesses and land parcels to cut debt and boost cash flows.The company has already exited from the hospitality, cinema and insurance businesses. It has also sold a large land parcel in Mumbai.

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