Sunday, December 03, 2017

Weekly Review - 04th Monday, 2017

Dear All,


>>> The Senate passed the massive GOP tax bill <<<

The US Senate passed the Tax Cuts and Jobs Act (TCJA) just after 2 a.m. ET on Saturday, moving the US one step closer to the biggest overhaul of the federal tax code in more than 30 years.
The Senate bill would make sweeping changes to individual and business taxes, while also affecting various industries like healthcare. In all, the cuts total a little less than $1.5 trillion in revenue over 10 years.

Negative for Indian Pharma Industry also :-

Obamacare's individual mandate:- The penalty for not having health insurance created by the Affordable Care Act, or Obamacare, would be abolished . The Congressional Budget Office says this would result in 13 million more people without coverage by 2027.

The corporate tax rate would become 20%:- This would plunge from the current 35% and, unlike the individual provisions, would be permanent.

Allow businesses to fully deduct business expenses:- Firms could fully deduct business expenses as soon as they spend money, an increase from the current 50% cap.

Increase the child tax credit:- The credit would jump to $2,000 per child from the current $1,000.

Increase the threshold for the alternative minimum tax :- The bill would raise the income level at which a tax filer would need to use the AMT, a parallel set of tax rules designed to ensure wealthy people don't take large enough deductions to eliminate their entire tax bill.

Change the inflation adjustment for individual tax brackets:- The bill would switch the rate of growth for tax brackets to the chained consumer price index from the normal consumer price index (CPI). Typically, chained CPI grows as a slower rate.

Give a deduction for pass-through businesses:- Businesses in which the owner takes the profits from the firm as income are known as pass-throughs (like limited liability corporations or S-corporations). These firms would be able to take a 23% deduction on this income. There are guardrails to make sure this does not apply to professional service firms like accounting firms or hedge funds.

The standard deduction:- The Senate TCJA would almost double the standard deduction to $24,000 for married filers and $12,000 for single filers.

The medical expense deduction: - Currently, if a person's annual medical expenses are above 10% of their qualified income, the amount above that threshold can be deducted. The Senate bill would temporarily lower that to 7.5% of income through 2018.

The estate tax:- Currently, if the estate of an individual is greater than $5.6 million, that person's heirs must pay taxes above that level. The bill would increase that threshold to $11 million.

The state and local tax deduction:- Taxpayers will be able to deduct up to $10,000 in state property taxes, but could no longer deduct state and local income or sales taxes.

Suspend a slew of itemized deductions and exemptions:- Tax breaks for everything from moving to commuting by bike would be eliminated.

>>>Week Ahead :-<<<

The outcome of the Reserve Bank of India's (RBI) monetary policy meeting, macroeconomic data, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses next week.
The RBI's monetary policy committee (MPC) will meet on Tuesday, 5th and Wednesday, 6th December 2017 for the fifth bi-monthly monetary policy decision for FY 2018. The resolution of the MPC will be placed on the RBI website at 14:30 IST on Wednesday, 6 December 2017.

In the previous meeting on 4 October 2017, the RBI kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6% on the basis of an assessment of the current and evolving macroeconomic situation. Consequently, the reverse repo rate under the LAF remains at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.25%.

On the macro front, Markit Economics will unveil the result of a monthly survey on the performance of India's services sector in November 2017 on Tuesday, 5 December 2017.

On the global front, US ISM non-manufacturing purchasing managers index (PMI) data for November 2017 will be unveiled on Tuesday, 5 December 2017.

US ADP nonfarm employment change data for November 2017 will be unveiled on Wednesday, 6 December 2017.

Japan Q3 gross domestic product (GDP) data will be unveiled on Thursday, 7 December 2017.

US nonfarm payrolls data and US unemployment rate data for November 2017 will be unveiled on Friday, 8 December 2017.

>>> Nifty Weekly Chart <<<

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

Price tends to break the interim support channel, If breaks May possibly test 10015.

>>> Nifty Daily Chart <<<

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

Resisted @ 10405 - and breaks important supports, might be moving as Wave C.

>>> Bank Nifty Daily Chart <<<

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

Might be an ABCDE Correction. Support @ 25160 - 24975 - 24700 - 24370. Resistance @ 25350 & 25580.

>>> Bank Hourly Chart <<<

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

Middle line Support Broken. Resistance @ 25340 - 25460 - - 2550.

>>> CNXIT - Daily Chart - Posted Last Weekly Review <<<

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

Posted Last Weekly Review - IT Index may Resist @ 11350.

>>> Nifty IT - Daily Chart <<<

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

Support @ 10800 & 10650.

>>> TechM - Hourly Chart <<<

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

Classic Expanding Triangle. Break below the Triangle may trigger more Selling.

>>> CNXPSUBank - Daily Chart <<<

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

After Recapitalization News - Price failed to Move UP. Support @ 3745 and 3600.

>>> SBIN - Hourly Chart <<<

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

SBIN may consolidate further. Support @ 310 & 300. NO Holdings.

>>> CNXPHarma - Hourly Chart <<<

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

US - Senate passed a massive tax reform bill overnight on Saturday. Major Changes to the Code in the Bill - Says - The penalty for not having health insurance created by the Affordable Care Act, or Obamacare, would be abolished - Must a Big NEGATIVE for INDIAN Pharma Industry also CAUTION ADVISED ON ALL PHAMRA STOCKS.
9003 and 9045 Support. Below 9000 More fall likely.

>>> SUNPHARMA - Daily Chart <<<

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

Many queries about Sunpharma Since we booked Profit last week. Above chart - doesn't look in good shape. Channel Resisted and if breaks below 510 or 500 may trigger a good Sell off. Caution Advised.

>>> CNXMetal - Hourly Chart <<<

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

Metal Index Breached Crucial Support 3640 - May test 3510-3500.

>>> VEDL - Hourly Chart - Posted Last Weekly Review <<<


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

Mentioned Support Line 294.

>>> VEDL - Hourly Chart - Broken Support - More Rall Likely <<<

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

Stop Loss hit and Exited with a Loss of Rs.3500/-

>>> CNX Financial Service Index <<<

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

Financial Service Index - Might break down below 13300.

>>> LICHSGFIN - Weekly Chart <<<

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

Hit SL earlier and Exited. Trend Line may support the Price.

>>> Performance so far in Dec 2017 <<<


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

>>> N4A - Whatsapp <<<


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