WEEKLY REPORT

Highlights of the Union Budget for 2019-20 (Apr-Mar), presented

by Finance Minister Nirmala Sitharaman in Lok Sabha:

GROWTH, INFLATION

* Well within capacity to reach $5-trln economy in few years

* India to become $3-trln economy in FY20

* India now 6th largest economy vs 11th five years ago

FINANCIAL SECTOR, MARKETS

* STT to be limited to gap between settlement, strike price

* Propose some leeway in Securities Transactions Tax

* Propose to implement steps to make tax compliance easier

* Bad loan tax norms for most NBFCs at par with banks

* To give PSU banks 700 bln rupees capital

* Banks' NPAs reduced by more than 1 trln rupees last year

* To let all NBFC to participate in trade receivable platform

* Propose to return regulation over housing fin cos to RBI

* Propose more power to RBI over NBFCs in Finance Bill

* Fundamentally sound NBFCs should get funding from banks, MFs

* Provision coverage ratio of banks highest in 7 years

* Six PSU banks enabled to come out of prompt corrective action

* Setting divestment target of 1.05 trln rupees for FY20

This week market was very volatile especially the last day because of budget, nifty has closed at 11811 by a 22.30 points increase by 0.19 %. This week Nifty opened at 11839 made high of 11981, made low of 11797 and closed at 11811.  NIFTY opened with a 51 points increase and kept increasing till 11981 but closed 170 points lower, at 11811. From this we can conclude that Bears doesn’t want Nifty to go beyond 1900 level. That makes it apparent that Bears are in power. This coming week might be more volatile. So keep SL in every trade.

On weekly bases resistance is 12010 and 12103 and support is 11591 and 11426.

Looking to our call performance on weekly basis we end up with Profit of ₹ 72050/- following are the details of our calls.

Calls Brought Forward from the previous weeks 18

Calls given 12

In profit closed 2

In loss closed 1

In no profit-loss closed 5

Didn’t trigger 4

And Total call running for next week 18   

IGL Profit = ₹ 74250        

JSWSTEEL No profit-loss

PERSISTENT didn’t trigger

POWERGRID Profit = ₹ 200

ACC No profit-loss

DMART No profit-loss

LUPIN Loss = ₹ 2400

INFRATEL didn’t trigger

M_MFIN No profit-loss

PFC No profit-loss

STAR didn’t trigger

BIOCON didn’t trigger