WEEKLY PERFORMANCE (3-6 OCT 2017): CASH PREMIUM SEGMENT

WEEKLY PERFORMANCE (3-6 OCT 2017)

CASH PREMIUM SEGMENT

TOTAL NO. OF CALLS GIVEN-11

TOTAL PROFIT-RS.-14,00,150/

ACCURACY-100%

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WEEKLY PERFORMANCE (3-6 OCT 2017): OPTION PREMIUM SEGMENT

WEEKLY PERFORMANCE (3-6 OCT 2017)

OPTION PREMIUM SEGMENT

TOTAL NO. OF CALLS GIVEN-09

TOTAL PROFIT-RS.-4,05,558/-

ACCURACY-89%

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WEEKLY PERFORMANCE (3-6 OCT 2017): Future Premium Segment

WEEKLY PERFORMANCE (3-6 OCT 2017)

FUTURE PREMIUM SEGMENT

TOTAL NO. OF CALLS GIVEN-15

TOTAL PROFIT-RS.-14,87,620/-

ACCURACY-100%

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GST Council Reduces Compliance Issues, Rates Cut on 27 Items

The Goods and Services tax (GST) council on Friday cut rates on 27 items and 12 services, and approved sweeping changes in rules to soothe frayed nerves of millions of small enterprises and exporters that have been battling with procedural irritants, delayed refunds and technical glitches on returns filing.

The Finance Minister Arun Jaitley-headed panel pushed for big changes in its 22nd meeting to iron out rough edges of the new tax system that has been hit by multiple pain points since it was rolled out on July 1.

The Council relaxed return filing rules for small and medium enterprises (SMEs), deferred the controversial reverse charge mechanism (RCM) till March 31, 2018, and hastened tax refunds for exporters battling cash crunch.

Jaitley said that the annual turnover threshold on the composition scheme has been raised from Rs 75 lakh to Rs 1 crore.

Under the scheme, traders, manufacturers and restaurants can pay tax at 1, 2 and 5 percent, respectively. The move to widen the turnover threshold is aimed at easing the compliance burden for taxpayers as they will have to file returns only once in a quarter as against monthly returns that needs to be filed by other normal taxpayers.

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PAN Card will not be Required for Jewellery

head of the assembly elections in Gujarat, the government has removed gems and jewellery dealers from the purview of the reporting requirement under the Prevention of Money Laundering Act (PMLA).

This effectively means that a PAN card will not be needed for jewellery purchases of over Rs 50,000.

The government rolled back August 23 notification that notified dealers in precious metals, precious stones and other high value goods as persons carrying on designated business and professions under the Prevention of Money Laundering Act, 2002.

Under the PMLA, every reporting entity is required to maintain record of all transactions of value exceeding Rs 10 lakh, all cross border wire transfers of more than Rs 5 lakh and all purchase and sale of immovable property of Rs 50 lakh or more. The Government of India has received representations from various associations in the gems and jewellery sector with respect to certain incongruities in August 23 notification, an official order said.

“After considering various aspects of the issue, the Government has decided to rescind the said notification,” it said. “A separate notification after due consideration of points raised and wider stakeholder consultation in this regard, shall be issued separately.”

Revenue Secretary Hasmukh Adhia said that there was a lot of misunderstanding about the notification and so that there is no panic in the market the government has decided to withdraw the notification. Under PMLA, all reporting entities, like banks, are required to report cash deposits over Rs 50,000.

Gujarat will go to assembly polls towards the end of the year.

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SEBI Rolls out Mutual Fund Reforms

The Securities and Exchange Board of India (SEBI) on Friday announced some reforms in the mutual funds industry. The regulator has categorised mutual funds into five schemes — equity, debt, hybrid, solution oriented, and other schemes.

Fund houses will be allowed to have one scheme in each category, except for index funds/ETFs tracking indices, fund of funds and thematic schemes investing in different sectors.

The move is to bring in uniformity in the characteristics of similar type of schemes launched by different mutual funds and to standardise the scheme categories. The regulator wants funds to clearly distinct schemes in terms of asset allocation, investment strategy, etc.

The reforms, which were anticipated by the industry, will make it easier for investors to evaluate their options before investing.

“The regulatory direction is supportive of our belief that for investors to make optimal choices, the industry needs to offer fewer well-defined choices rather than a plethora of clones,” said Aashish Somaiyaa, MD & CEO of Motilal Oswal AMC.

As per the circular, mutual funds would have to carry out the necessary changes in all respects within a maximum of 3 months.

The solution oriented schemes will have a specified lock-in period, but that would not be applicable to the existing investments made by an investor, registered SIPs (systemic investment plans) and incoming STPs (systemic transfer plans) in the current solution oriented schemes.

SEBI also defined the large cap, mid cap and small cap companies. The first 100 companies in terms of market capitalisation will be categorised as large cap companies, 101-250th companies as mid caps, and comapanies on ranks 251 onwards, will be defined as small caps.

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Morgan Stanley sells 17.67 lakh shares of Granules India

On October 6, 2017 Morgan Stanley (France) S.A. sold 17,67,051 shares of Granules India at Rs 119.37 on the NSE.

On Friday, Granules India ended at Rs 121.80, up Rs 7.10, or 6.19 percent on the NSE.

The share touched its 52-week high Rs 157.25 and 52-week low Rs 91.45 on 18 May, 2017 and 09 November, 2016, respectively.

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Nifty Likely to Reclaim 10K to Hit 10,140

Buy on Dips as Nifty Likely to Reclaim 10K to hit 10,140 this Coming Week

The Nifty50 gained 191 points on the weekly basis. The market witnessed buying action in largecap and midcap space. The index is likely to continue to head higher and it may scale up towards 10070-10140 in the coming week.

Since the past 3-4 months, the index is consolidating within a broad range of 10180-9685 levels representing a sideways trend. On the weekly chart, the index has formed a ‘Bullish’ candle with a long lower shadow indicating buying at lower levels.

The Nifty50 managed to surpass 50 percent retracement of recent fall (10178-9687). The Nifty managed to reclaim above 50-days moving average (DMA) and 100-DMA which indicates a gain in strength.

If the index crosses above 10,000 level next week then it would witness buying which would take the index towards 10,070-10,140 in the near term.

The daily strength indicator Relative Strength Index (RSI) and momentum oscillator Stochastic have both positive and are above their respective reference lines indicating positive bias. Buying on dips continues to be our preferred strategy.

On the lower side, 9945-9900 are likely to act as good support for any minor corrective action in the near term.

Here is a list of stocks which are looking attractive for the coming week. Jubilant FoodWorks, Bharat Forge, Petronet LNG, Bharat Financial, HCL Technologies looks bullish for near/short term.

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Nifty may Consolidate between 9800-10000

The Nifty50 is expected to consolidate with a positive bias above 9800-10000. The decline in volatility along with an increase in open interest at Put strikes suggests writing in Put options, which has led to positive consolidation.

So far the Nifty was mainly dragged by Nifty Bank due to short positions formed in the index. However, the support is expected to come from non-banking heavyweights. The coming up earnings season would also lead to a more stock specific scenario.

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India VIX has declined from 14 percent to 11.5 percent in the recent Nifty pullback. Buying from mutual funds has supported the markets. They have bought more than Rs 10,000 crore in the last few sessions

The rupee has appreciated after hitting Rs 65.80/USD levels. This has happened on account of buying in the debt segment from FIIs. This has nullified the equity selling from them.

One major factor in Nifty Futures is the lower premium with respect to spot. This is termed as the basis, which was seen as low as 8 points also.

This means shorts were formed in the Nifty. The cash buying support in the broader market leads to short covering in Nifty futures, which was primarily seen in Friday’s session.

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Tata Steel may move to Rs 760-770

“Tata Steel has had a very strong upside and almost at fresh all-time highs or rather fresh 52-week highs. I think once we get past or stay past this Rs 695 zone, you could easily have a fairly strong rally towards Rs 760-770.”

“Tata Steel is a place where people will see clear out-performance because the Nifty is still 200 points away. So any stock that is already at new highs or fresh intermediate highs, is likely to outperform,”

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