Weekly Review - 22nd May, 2017

Dear All,

GST Blues :-

While the rates prescribed by the Goods and Services Tax (GST) council are a mixed bag for India Inc, some segments such as adhesives, coal and lignite, hair oil, luxury cars, soaps, two-wheelers, and toothpaste are expected to benefit from lower duties. On the other hand, manufacturers of chocolates, paints, sanitary ware and white goods will be adversely affected due to higher taxes. The ET Intelligence Group analyses sector-wise impact of the GST rate structure.

Events of the Week :-

GST rates are finally fixed. In general, they are non-inflationary and fair to the pockets of a vast majority of population. The rates are progressive, which will go a long way in reducing income inequality and promoting inclusive growth in the economy. The setting up of an investigation committee headed by former FBI Director Mueller to look into the charges of Russian interference during Trump’s Presidential campaign would be significant for global financial markets. If the charges are proved, then an impeachment would become certain, leading to massive selloffs in the US markets as was the case during President Richard Nixon in 1974, when the market had fallen 25 per cent after he resigned in August 1974 fearing an imminent impeachment.

>>> Nifty Daily Chart <<<

>>> Click the chart to see on full screen <<<

Price Resisted @ 9530, if able to Cross above, May see 9680 Soon.

>>> Nifty Hourly Chart <<<

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9390 was a Good Support. We have advised our Clients to go Long with 9390 SL for 9680.

>>> Bank Nifty Daily Chart <<<

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Price must cross above 23020 for another 450 points rally.

>>> CNXIT Daily Chart <<<

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Key Resistance 10700, If not crossed - Expect a good correction.

>>> HINDZINC - Holding Long <<<

>>> Click the chart to see on full screen <<<

Holding our Long as per chart.

>>> Performance till 19th May, 2017 <<<

>>> Click the Image to see on full screen <<<

Above performance is not a Promise or guarantee for the given Profits or Loss.Performance given based on 1 lot at a time and clients Profit differ as per the margin availability and Number of Lots taken by them. We may or may not re-enter the Calls given here hit Stop Loss, as per market movement. The charts given above are just for educational purpose only and we don't recommend any Entry / Buy or Exit / Sell. Reader must taken their own decision or consult their qualified Analyst before making any decision