7 Oct Tech View

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Nifty 7945
After flat opening Nifty has remained in a range bound movement throughout the day and finally ended with “DOJI” an uncertain candlestick pattern on daily chart. Daily as well as hourly momentum indicators are generating minor bearish reading on chart. Nifty intraday support placed at 7922 – 7895 levels and resistance placed at 7966 – 7988 levels.

Bank Nifty 15316
After flat opening Bank Nifty has remained in a box range and finally ended with “Small Black Candle” a minor bearish reading at this juncture on daily chart. Daily as well as hourly momentum indicators are reading bearish on chart. Bank Nifty intraday support placed at 15250 – 15200 levels and resistance placed at 15370 – 15425 levels.

Economic Times
 
Business Standard
Ø  Cost of power generation likely to increase by 33%
Ø  RBI should raise rates to contain inflation: IMF
Ø  China's growth to slow down to 7.4 per cent: World Bank
Ø  India's steel demand expected to grow 3.4% this year: WSA
Ø  ICICI Bank acquires 5.15% stake in Hindustan Motors
Ø  ‘Modi dividend’ may push up growth: World Bank
 
Ø  Govt seeks AG's opinion on need for Ordinance on coal blocks
Ø  All govts falter on renewable power purchase targets
Ø  PFC to appoint consultants for Power Project Monitoring Panel
Ø  Weak crude and Indonesian foray adds colour to Asian Paints
Business Line
 
Mint
Ø   Banks request clarity on tax treatment over bonds under Basel 3 
Ø  Corporate ratings upgrades hint early signs of recovery
Ø  IFC to invest $100 m in Bilt Paper equity 
Ø  JSW Steel in talks to buy London Mining 
Ø  Shipping Corp launches service to Myanmar      
 
Ø  Credit Suisse downgrades India, Indonesia equities
Ø  Amazon’s stake in seller may come under scrutiny
Ø  Hilton to sell New York’s Waldorf Astoria hotel for $1.95 billion
Ø  Disney to back Paris theme park’s $1.25 billion refinancing plan
Financial Express
 
Financial Chronicle
Ø  Corporate India’s upgrades outpace downgrades first time since H1FY12
Ø  India Inc’s spirits rise on falling commodity prices
Ø  Coalmin seeks land right transfer from CIL to allottees
Ø  Samsung Electronics to invest $14.7 bln in new S.Korea chip facility
 
Ø  Investor wealth zooms over Rs 23 lakh cr so far this year
Ø  Skype to bar calls on mobile,landline within India from Nov 10
Ø  Flipkart, Snapdeal & a billion disappointed customers
Ø  OilMin cuts natural gas supplies to small industry in Gujarat
Ø  World Bank trims China, East Asia 2014-2016 growth forecasts

1 Oct Tech View

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[08:24, 01/10/2014] Dhawal: Nifty 7964
Yesterday’s move clearly stated that Nifty is playing with 20 days EMA levels since mid September. Since three trading days, Nifty is experiencing volatility in later part of the day and providing uncertainty over bulls and bears. Daily as well as hourly momentum indicators are reading minor bearish. Nifty intraday support placed at 7940 – 7915 levels and resistance placed at 7986 – 8010 levels.

Bank Nifty 15392
After flat opening Bank Nifty has witnessed volatility throughout the day and finally ended with “DOJI” an uncertain candlestick pattern on daily chart. Daily as well as hourly momentum indicators are generating weak signal on chart. Bank Nifty intraday support placed at 15330 – 15280 levels and resistance placed at 15465 – 15530 levels.

Economic Times
 
Business Standard
Ø  US nod to build LNG plant to ship fuel to India
Ø  RBI unveils more measures to deepen trading in bond market
Ø  NTPC signs coal-swapping agreement with GSEC
Ø  US Treasury, Federal Reserve at cross purposes on debt during crisis: Study
Ø  Lenders fear coal block cancellations may spike NPA
Ø  SBI cuts short-term deposit rates to 6 per cent
 
Ø  PSBs may soon raise funds to meet capital needs
Ø  RBI policy: Rajan leaves interest rates unchanged at 8%
Ø  Rel Comm aims to bring debt under Rs 20K cr in two years
Ø  Rupee falls, sees worst month since Aug 2013
Ø  RBI projects GDP growth to accelerate to 6.3% next fiscal
Ø  JSW Steel cuts steel prices for October
Business Line
 
Mint
Ø  Business outlook, consumer confidence improve in Q2: RBI survey
Ø  Indianroots to open stores in Chicago, UK
Ø  Tata Starbucks has over 50 cities on radar for expansion
Ø  Promoter entity picks 9% stake in Hexaware for Rs532 cr 
Ø  DSP BlackRock Investment restricts flow into micro-cap fund 
Ø  IDFC brings down foreign investment limit to 48%       
 
Ø  New rules to slash Indonesian coal exports in short term at least
Ø  Starwood Hotels to shift HQ from US to India for a month
Ø  News Corp. to buy real estate business Move in $950 million deal
Ø  Microsoft builds Indian data centres to tap $1.7 billion market
Financial Express
 
Financial Chronicle
Ø  Cross-border tax rule for wholesale trading tightened
Ø  Open offer of Zuari, Deepak 'fair & reasonable': MCFL IDC
Ø  IVRCL puts up Rs 4,000 cr assets for sale to ease debt burden
Ø  Non-subsidised LPG cylinder price cut by Rs 21; ATF 3 %
 
Ø  Bankers rule out slashing lending, deposit rates
Ø  Microsoft eyes $2 trillion cloud market
Ø  Trai directs Loop to inform users about closure
Ø  Govt cuts import tariff value on gold & silver
Ø  Hero MotoCorp crosses 6 lakh sales mark in September
Ø  Austria sees scope for increasing trade with India

30 Sep Tech View

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Nifty 7958
After flat opening Nifty has remained in a range bound movement except last 45 minutes of trade where some bit of volatility was presence and finally ended with “DOJI” an uncertain candlestick pattern on daily chart. Daily as well as hourly momentum indicators are reading minor bearish. Nifty intraday support placed at 7935 – 7910 levels and resistance placed at 7986 – 8010 levels.

Bank Nifty 15473
After flat opening Bank Nifty has witnessed volatility in last hour of the day and finally ended with relatively “Long Black Candle” a bearish candlestick pattern on daily chart. Daily as well as hourly momentum indicators are reading bearish. Bank Nifty intraday support placed at 15420 – 15355 levels and resistance placed at 15530 – 15590 levels.

Economic Times
 
Business Standard
Ø   American cos keen on India opportunities
Ø  Govt not to sell NTC: Santosh Gangwar, Textiles Min
Ø  Conditional renewal to MCX-SX Clearing Corporation
Ø  Lenovo to close $2.1 bn IBM's x86 server biz deal
Ø  Toyota to recall 690,000 Tacoma vehicles in US
Ø  Rs 215-crore loan to Loop at stake, Axis Bank tells DoT
 
Ø  Strides Arcolab to buy Shasun Pharma in all-stock deal
Ø  Tata to build defence navigator for Honeywell 
Ø  Telangana govt proposes 1.26-lakh km water grid
Ø  Markets end lower ahead of RBI policy review
Ø  S&P re-rating should buffer rupee when US Fed raises rates
Ø  HDIL promoters revoke all pledged shares
Business Line
 
Mint
Ø  RBI set to hold rates to continue inflation fight
Ø  CCFI claims Greenpeace bent on derailing Indian agriculture 
Ø  Modi woos American corporates; promises tax stability 
Ø  ‘Infrastructure boost to reduce supply-demand mismatch in cement industry’
Ø   Govt cancels SEZs of Adani, Essar, Hindalco, six others
Ø  Bill to repeal 287 Acts will be tabled in Winter Session
Ø  NTPC uncertain on fate of 5 coal blocks       
 
Ø  IDFC’s PE arm sells SEZ, IT park for Rs1,100 crore
Ø  Tata Motors hires former Maruti COO Mayank Pareek in turnaround bid
Ø  Singareni Collieries to open India’s biggest underground mine
Ø  Crisil upgrades Mahindra & Mahindra to AAA
Ø  Lenovo says $2.1 bn IBM x86 server deal to close on Wed
Ø  Bhushan Steel vice-chairman Neeraj Singal released on bail
Financial Express
 
Financial Chronicle
Ø  FTIL exits MCX; completes 15% stake sale to Kotak Mahindra Bank
Ø  Possession, sale of foreign fireworks is illegal: DIPP
Ø  Vista Equity Partners to buy Vivek Ranadive-led Tibco Software Inc for $4.3 billion
Ø  RBI nudges banks in India to mine Facebook and Twitter to know customers better
 
Ø  Reliance MF to launch India-focussed funds abroad
Ø  Exchanges need to change mindset: BSE chief
Ø  Sebi reviews norms dealing with investor protection fund
Ø  Rush to join global hunt for biotech drug copies
Ø  Srei Infra to raise Rs 1,500 crore via NCDs
Ø  GMS Holdings to pick up 25% stake in Strides unit for $21.9m