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Weekly Report 12th March to 16th March 2018.

Upcoming Week Nifty Movement:

Nifty closed the week on negative note losing around 0.30%. Nifty closed the week below its major level 10276 (closed at 10226.85), also gave its pattern breakout. The major indices of the Indian stock markets saw volatile trading through the week.

Support for the index lies in the zone of 10145 to 10030 where break out levels and medium term moving averages are lying. If the index manages to close below these

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Shield Researchlevels then the index can drift to the levels of 9950 to 9830 where the index has taken multiple supports in the month of October-2017 and long term moving averages are lying.

Resistance for the index lies in the zone of 10276 to 10325 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 10400 to 10535 from where the index broke down after consolidation.

Broad range for the week is seen from 9830 on downside & 10535 on upside.

The market failed to extend previous day's gains due to sell-off in last hour of trade on Friday as the benchmark indices closed mildly lower despite positive Asian cues. Investors looked for GST Council meet that is scheduled to be held on Saturday and macro data due on Monday.

On the stocks front, Nifty Metal and PSU Bank were biggest losers among sectoral indices, shedding 1.8 percent each. Nifty Bank index shed 0.7 percent but IT index gained half a percent.

Tata Steel was the biggest loser among Nifty50 stocks, falling 4.6 percent followed by Vedanta and Hindalco that declined over a percent.

Majority of banks stocks were under pressure. ICICI Bank, Axis Bank, SBI, Yes Bank, Canara Bank, Bank of Baroda, IDBI Bank and Punjab National Bank were down between 1 percent and 7 percent. However, Central Bank of India outperformed, rising 11%.

Dr Reddy's Labs declined 0.6 percent after its Medak unit in Hyderabad has received a Form 483 with five observations from the USFDA. Sun Pharma, Cipla and Lupin also slipped around a percent. Bajaj Finance, HDFC, TCS, IOC, Tech Mahindra and Eicher Motors among others gained 1-2 percent.

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WEEKLY INDEX LEVELS:Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

10226.85 10270 10098 9970 9670 10398 10570 10870

Kajaria Ceramics, PFC, REC, Delta Corp, Adani Transmission, Ashok Leyland, Oberoi Realty and NCL Industries rallied 1-6 percent. Reliance Communications, Adani Enterprises, SAIL and VIP Industries declined 4-10 percent.

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Upcoming Week Bank Nifty Movement:

Bank Nifty also opened upside at 24749.65, took resistance major level and trend line, made high 25085. While downside Bank nifty took support the major level 24000, made low 24085.70 but could not sustain below these levels closed at 24313.

Nifty Bank closed the week on negative note losing around 1.60%.

The index has closed around the support zone of 24300 to 24000 from where the index filled the gap. If the index manages to close below these levels then the index can drift to the levels of 23886 to 23610.

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Shield ResearchResistance for the index lies in the zone of 24600 to 25000 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 25380 to 25800 from where the index has opened gap down.

WEEKLY INDEX LEVELS:Bank Nifty CMP Pivot

PointSupport1 Support2 Support3 Resistance

1Resistance2 Resistance3

24313.25 24495 23904 23495 22496 24903 25494 26493

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Shield ResearchShares of Karnataka Bank -1.49 % (down 1.53 per cent), South Indian Bank -1.19 % (down 1.19 per cent) and YES Bank -1.41 % (down 1 per cent) were down in morning trade on Friday, dragging the Nifty Private Bank index into the negative zone.

Sunil Mittal-owned Airtel Payments Bank has been fined of Rs 5 crore by Reserve Bank of India (RBI) for breaching Know Your Customer (KYC) norms.

The central bank said that a "monetary penalty of Rs 50 million has been imposed on Airtel Payments Bank Limited for contravening the Operating Guidelines for Payments Banks and directions issued by RBI on KYC."

Earlier this week, RBI had fined three other banks — State Bank of India(Rs 40 lakh), Axis Bank (Rs 3 crore) and Indian Overseas Bank (Rs 2 crore) — for non-compliance of RBI norms relating to detection and reporting of counterfeit notes, classification of non-performing assets (NPAs) and violation of KYC norms, respectively.

After State Bank of India, the banker to the nation raised interest rates on bank fixed deposits; other banks are expected to follow. While the interest rates are expected to go up, investors are worried about the ongoing correction in stocks.

The power minister has said that State Bank of India is "worried" about its exposure to the Mundra power projects of both Adani Power and Tata Power. He also went on to express concerns over stressed assets in the power sector as a whole. Sunil Srivastava, Deputy MD of SBI spoke about the same.

Srivastava said that power is a stressed sector for the entire banking sector. According to him, there are 34 thermal power plants under stress.

There are still a few power plants that could be classified as non-performing assets (NPAs). However, not all gas-based power plants are under stress, he said.

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Shield ResearchIndian National Bank Employees' Federation (INBEF) has demanded stern action against auditors, directors, top executives of the bank as well as supervisory officials from Reserve Bank of India (RBI) in the Punjab National Bank (PNB) fraud.

The Insolvency and Bankruptcy Board of India (IBBI) on Thursday invited comments from the public on its proposal to make regulations that will govern the process of making regulations and consulting the public.

A South African court investigating corruption charges against former President Jacob Zuma and the Gupta family on Friday absolved Bank of Baroda BSE -2.12 % (BoB) of the charges of being in possession of “proceeds of crime”. But the state run Indian bank still faces a criminal complaint filed against it by the opposition Democratic Alliance party.

Bank of Baroda (BSE-2.12 %) may have to provide for a potential loss of Rs 120 crore on loans to the Gupta family companies in South Africa after the brothers, who are facing corruption charges, fled the country and the companies filed for bankruptcy. The development gains significance in the backdrop of the bank’s plan to exit the country by closing its operations at the end of this financial year.

The Reserve Bank is likely to increase its key rates by 0.25 per cent this year as inflation is expected to be at a higher range due to wide fiscal deficit and high prices of oil and farm produce, a report said on Friday.

The headline consumer price inflation (CPI) will not breach the 6 per cent mark which is the upper end of the target band for RBI, but moderation towards the 4 per cent target is also "unlikely", Care Ratings said in a report.

"A 0.25 per cent hike in repo rate is expected during 2018," the note added. The key repo rate at which it lends to the system stands at 6 per cent currently.

The RBI expects inflation to go up to between 5.1-5.6 per cent in the first half of the next fiscal and the April-September period, before cooling down.

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Shield ResearchTechnical Movement:

Biocon Limited: -

Biocon Limited: -

Trend of the stock is bullish, it took resistance previous weekly major level and reverse, next week it may again take support its previous breakout 570, one can go for buying with stop loss at 548 for the targets of 585-605 Trend of the stock is up in weekly chart and strategy advised is buy on dips.

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Shield ResearchThe Company focuses to reduce therapy costs of chronic diseases like autoimmune, diabetes, and cancer. Through its products and research services it is enabling access to affordable healthcare for patients, partners and healthcare systems across the globe. The Company has developed and taken a range of Novel Biologics, Biosimilars, differentiated Small Molecules and affordable Recombinant Human Insulin and Analogs from Lab to Market.

 Hexaware Limited:-

Technical Movement:

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Shield ResearchHexaware Limited:-

Trend wise Hexaware is highly bullish, the stock is giving weekly resistance breakout 350 (Made high 359.75) & gave strong closing near weekly major level at 358.05, also took support previous breakout in weekly chart. Next week If it sustains above 346 one can go for buying with stop loss at 330 for the targets of 360-375, Trend of the stock is up in daily chart and strategy advised is buy on dips.

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Previous ArchivesLAST WEEK RECO

STOCKSRECO PRICE TGT FOLLOW UP REMARK

ARVIND FUTURE 412 422-435, SL 395 Stop Loss Triggered Made High 416.35, CMP 390

BHARAT FORGE FUTURE

775 800-830, SL 740 Stop Loss Triggered Made High 781.95, CMP 749.10

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