MARKET-HUB

Nifty ends below 11,800,

Sensex down 191 pts; pvt

banks, metal stocks drag

Nifty ended 52.60 points

below at 11,788.90, while

Sensex was down 191.77

points at 39,394.64. About

1147 shares have advanced,

1354 shares declined, and

158 shares are unchanged.

Welspun Corp: Company

fixed July 5 as the record

date for the purpose of

determining the shareholders

eligible for a dividend, if

any, declared by the

shareholders at the ensuing

Annual General Meeting.

Reliance Capital - Brickwork

Ratings has revised rating to

BBB for long-term debt

program, market linked

debentures and subordinated

debt and A3 for short-term

debt program of the

company

ICICI Bank: Bank allotted

3,49,780 equity shares of the

face value of Rs 2 each

under the Employees Stock

Option Scheme.

Axis Bank rises 2% on

report of $1.3 bn share sale

plan

Shares of Axis Bank gained

over 2 percent intraday June

27 on a report of likely share

sale by the company.

The bank is likely to

consider a $1.3 billion share

sale, reported CNBC-TV18

quoting news agencies.

Glenmark Pharma gains on

USFDA approval

Shares of Glenmark Pharma

gained 2 percent in the early

trade on July 28 after

company received USFDA

approval for Ezetimibe and

Simvastatin Tablets.

Sun Pharma jumps 4% as

CLSA sees 35% upside on

strong India positioning

Sun Pharmaceutical

Industries shares rallied 4

percent intraday on June 26

after global brokerage CLSA

said it expects the stock to

return 35 percent on its

strong India positioning.

NEWS LETTER

Beyond Research,

Beyond Advice

29th June 2019

Issue – 355

Market News

MARKET-HUB

Results & Corporate Action

MARKET-HUB

Nifty Spot In Last Week :-

As we saw the Price Movement in Nifty Spot in last week that In Upside is

11,911.00 and in Downside 11,651.00.

Nifty Spot In Upcoming Week :-

There There is strong Resistance is 11,950 if sustain above this level then next up

level 12,020 to 12,100 possibility, 11,600 is strong support if sustain below this

level then next down level 11,560 to 11,380 possibility.

Bank Nifty in Upcoming week :

There is strong support is 30,600,if not close below this level Till buy on deep

upside target will be 31,305 if cross this level then next target 31,600 possibility,if

break 30,600 level then down side target 30,100 possibility.

Market Technical

Page: - 2

BANKNIFTY WEEKLY CHART

NIFTY WEEKLY CHART

Recommendation for next week

MARKET-HUB

COPPER:- If not close above 460 level Till then

sell on rise down side target will be 435 if close

below 435 then next target 418 possibility.

CRUDEOIL :- Buy in deep with sl 3,870 upside

target will be 4,170 if cross 4,170 level then next

target will be 4,250 to 4,300 possibility.

SILVER:- Buy on deep with stop loss 36,500

upside target will be 39,300 possibility.

GOLD:- Buy in deep around 33,500 to 33,300

with sl 33,000 day closing basis upside target

will be 34,900 to 35200 possibility.

Commodity Market

MARKET-HUB

USDINR: Investors can sell on rise with stop loss

of 70.20 down side target will be 68.90 if close

below 68.90 then next down target 68.50 to 67.70

possibility.

GBPINR: Investors can sell on rise with the

stop loss of 89.50 and down side target will be

87.20 possibility.

EURINR Buy in deep with sl 78.20 upside

target will be 79.50 possibility.

JPYINR: Investors can Buy in deep with stop

loss of 63.80 upside target will be 64.80

possibility ,Sell on rise with sl 65.50 down side

target will be 64.00 possibility.

Currency Market (Future Levels)

MARKET-HUB

One important thing happened during the week was that after a long time (since

April 11 of current year), Rupee went below the mark of 69 (68.91) against the US

Dollar in intraday trade.

Easing crude price and steadiness in dollar provided the support to Rupee. FIIs

were mostly on a buying side during the week.

The dollar index has been exhibiting a downward bias. President Donald Trump

also wanted that US Fed should keep the lower cheaper.

Most of the trader were cautious ahead of the G20 meeting at Japan between the

heads of US and China.

As per the latest news late Friday night Donald Trump narrated that there is high

possibility of reaching to some amicable solution with China. However, the detail

of proposed action is yet to be announced.

As IFA Global said, next week, “the euphoria ahead of Budget announcement and

the outcome of G-20 meeting will play a major role”.

Premium / Discount (USD/

INR) Based on Forward Rates

Duration Premium One month

Forward

0.25

Three month

Forward

0.50

Six month 1.18

One year 2.52

RBI reference Rates

Currency Rates

USD 69.22

GBP 87.74

Euro 78.59

100 Yen 64.01

Currency Corner

MARKET-HUB

Expectations Ahead of Budget:.

We are happy to present an interview with VK Sharma (HDFC Securities) as appeared on

Moneycontrol.com.

Smart money is moving towards value small & midcaps; invest in these stocks ahead of Budget

2019'

Apart from banking space, smart money is also moving into mid and small caps. But, here the

money is tracking attractive valuations and not visibility, V K Sharma, Head – PCG & Capital

Market Strategy, HDFC Securities, said in an interview with Moneycontrol’s Kshitij Anand.

Edited excerpts:

Q) What are your expectations from Modi 2.0 Budget?

A) We have set realistic expectations for the first Modi 2.0 Budget. We feel the importance of

the Budget has decreased since the implementation of GST, as the GST Council meets every

month. So each GST meeting becomes a budget day in old parlance.

Secondly, we believe that policymaking is a continuous process as the government tweaks its

trade-related policies to stay in line with international developments. So this is essentially

round the year phenomenon.

We expect the following three things from the Budget on July 5.

> The finance ministry keeps the fiscal deficit at 3.4 percent, unchanged from the interim budget.

> The FM borrows a page from Atal Bihari’s NDA government and does strategic disinvestment

of PSUs.

3. The FM ignites economy by higher Government expenditure.

Q) Will the govt retain the fiscal deficit target at 3.4 percent of GDP for FY20?

A) Yes, we believe the government will be able to keep the fiscal deficit target of 3.4 percent.

This would have been unimaginable in an economy that has slowed over the past three quarters.

However, the following reasons make us believe that it is possible

> Large inflow from RBI as a dividend or in any other form.

> Strategic sales of PSUs.

Q) Will there be financial sector reforms such as privatisation of some PSU Banks , capital

infusion, etc in the upcoming Budget?

A) Both are a possibility. While the money that comes from the banks could be used for the

recapitalisation. This, in turn, would allow the PSU banks to take up new lending and provide

stimulus to business.

Page: - 3

MARKET-HUB

Apart from capitalising banks, the government will have to ensure that the management of these

banks and their systems are strengthened, otherwise, this new lending will also soon be bad debt.

The government could announce strategic disinvestment of certain PSUs like BEML and others.

But, we believe the tonic coming from RBI may be sufficient and therefore the disinvestment

target may not be very ambitious this year.

Q) Will the govt give investment stimulus to boost growth in Budget 2019?

A) The government could raise infrastructure bonds to fund specific projects and there could be

sops to spur private investment.

The wheels of the economy which are clogged will run smoothly if the banks that were

conserving capital will start lending again.

Q) Amid recent fall in the markets, where are the pockets of opportunities. Where is the

smart money moving?

A) The money is moving where the visibility is. Only history will tell us how smart that move

was. Money is going into banking as this is the sector with the highest visibility in the near

future.

The money is also moving into mid and small caps. But, here the money is tracking attractive

valuations and not visibility.

In a slightly longer time frame, these small wonders have a lot of catching up to do, so expect

them to attract eyeballs. Small and Mid-caps are attracting more number of investors and are

seeing higher inflows.

Q) Any top stocks which investors can buy ahead of the Budget? And, why?

A) We like three banks - State Bank of India, Axis Bank, and ICICI Bank. They will see better

days ahead as the amounts that were written off are now written back. With the government

getting into action on the economic front, we expect these to do still better.

Infrastructure space is first off the block when a new government takes office. We like L&T and

UltraTech Cements in this space. UltraTech will see higher capacity utilisation which should

result in higher earnings.

BEML is one stock that straddles the infra-defence space with equal ease and is front line

contender for strategic disinvestment.

Disclaimer: The views and investment tips expressed by investment expert are his own. Users

are advised to check with certified experts before taking any investment decisions.