Trading View on Nifty and Banknifty future

support and resistance

 [27/09, 8:52 AM] Market Drona: Goodmorning!

As mentioned earlier big fisheries are eating retailers and jobbers!!

And I tried to read the data and tools to help ourself to be in right direction and effectively time the market by option and future on Indexes!  

Banknifty future Support at 29560/990/30150 to be on long side and Nifty future 11540 is the hope of the day! 

Bulls are well positioned above that.

Happy Trading!

Regards

EmmKay

Nifty and banknifty future Support and resistance

Support and resistance

Goodmorning!

Nothing change in the world and in the Indian economy apart of govt said they will take lower tax from Corporate! Which change the earning and overall scenario of index earning! Though just 6000 crs made a surge of 11%, it's area of thought. 

No change in view on

Nifty and banknifty at future levels as given below and shared earlier:

Indexes, Banknifty 30350/30200 are support and 30850/31660 resistence! 

Niftyfuture 11550/11680 are   Support  and resistances at  11770/11810  !

Happy Trading!!

GST rate cut on room tariffs; Double bonanza

*Hotels: GST rate cut on room tariffs; Double bonanza (Corp + GST cut)*

• FM today provided bonanza to corporates with reduction in tax rate from 34.3% to 25.2%.

• *GST council has provided another booster shot.* 

• *GST rates on room tariffs has been reduced as under*

*ADR upto*

Rs 1,000 – nil

Rs 1,000-Rs 7500 – from 18% to 12% and

Rs 7,500+ - from 28% to 18%

• *This should help Hoteliers to stimulate demand and consequently raise tariffs.* 

• Tax rates on hotels especially in the luxury segment had been one of the highest in India. 

• Government focus to boost domestic and inbound tourism (large gross foreign exchange earner of ~Rs 2tn) is constructive. 

• *GST cut as positive for all the branded hotel companies viz. IHCL, Lemon Tree, EIH and Chalet.*

• *After three consecutive years of healthy demand (likely minor blip in FY20 due to slowdown till now), it would be surprising if Hotel cos fail to capitalize on ARR growth.*

Indian Equity Sensex Jumps over 1500 pts

#Niftyfuture have made high of 550 pts in one go after the stimulus package announced by FM as Major cut in corporate taxes to ensure the growth and making FPIs happy on change in investing structure in India as corporate!

Major contributors are as follows:

This is certainly a positive move from the government in terms of continue on  reforms to ensure growth!  Good news for corporate and Equity 

But Setback for Bond Market! 

Will posting the detail impact of the move in next post! 

Have a great day!

India Announced New Corporate Tax Structure

India Govt announces Stimulus package in the form of changing the corporate tax structure, Details of the announcement as follows as per my view and understanding.

• A domestic company can pay income tax at 22% if they don't seek any exemption or incentives

• Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies

• Such companies also not required to pay Minimum Alternative Tax

• Companies availing exemptions can opt to pay tax of 22% after the exemption period is over

• Enhanced surcharge announced in Budget shall not apply on capital gains arising on sale of any securities including derivatives in the hands of foreign portfolio investors

• The govt expects to widen tax basket with lower tax rate

• Buybacks pre-July 5 exempted from buyback tax

• For new manufacturing companies that start production before March 2023 and incorporated on or after 1st October 2019, corporate tax rate brought down to 15% from 25%.

• Enhanced surcharge announced in Budget not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT

• MAT for companies that want to use tax exemptions cut to 15% from 18.5%

• Companies can opt for lower tax rate after expiry of tax holidays and concessions that they are availing now.

NEW TAX RATE WILL BE APPLICABLE FROM THE CURRENT FISCAL WHICH BEGAN ON APRIL 1.

Testimonials

Testimonials from traders and followers

Emmkay is a legend when it comes to accurate Intraday or positional calls. Every tip hits the target - bang on! One thing which I admired in him, is his simplicity. He never ever boasts or makes fun of anyone. He is simple and down to earth. Sharing bets during live markets hours is a herculean task, but he does that with ease. Looking forward to learning from him his *secret sauce* 

    Senthesh

Intraday Stock Trading Seminar - 2 Days workshop

Follow @EmmKay_RA

Seminar/Webinar on Intraday Stock Trading

TOPIC: "ADVANCED SKILLS FOR SHORT-TERM TRADING"

Delhi: Sept28th to Sept29th 2019

Webinar: On - 5th October to 6th october 2019

Investor phycology on market behavior

Seminar objective:

• Identification of Stock / Trend

• Trading  Range 

Lenders to Altico Capital

Default of 15 cr despite having cash in hand! 

Is this begging of new trend of defaulters.

HDFC and bajajfinance trading at 6X and 8x . Let's see how it would impact in the market. 

Will publish the my understanding on same later on facts or media hype!

Published as received!

#indiarating& research!

Reliance Result highlights

Reliance result

RIL HIGHLIGHTS • Record net profit of ₹ 39,588 crore, up 13.1%

• Highest ever PBDIT of ₹ 92,656 crore, up 26.8%

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• Record earnings for Petrochemicals, Retail and Digital services

• Jio crossed 300 million subscriber, ₹ 15,000 crore EBITDA milestones

• Retail crossed ₹ 100,000 crore revenue, 10,000+ stores milestones

• Record Quarterly Net Profit of ₹ 10,362 crore, up 9.8% YoY

• Demerger of tower and fibre assets of Jio completed

• Completed acquisition of Den Networks Limited and Hathway Cable and Datacom Limited

Energy Business

• Record Annual Petrochemical Segment EBIT at ₹ 32,173 crore, up 51.9%

• Highest ever petrochemical volumes at 37.7MMT, up 16%

• FY19 Refining EBIT of ₹ 19,868 crore, GRM $ 9.2/bbl, $4.3/bbl above Singapore Complex Margins

• 4QFY19 GRM $8.2/bbl, $5.0/bbl over Singapore Complex Margin

Retail

• Retail revenue up 89% to ₹ 130,566 crore

• Record Retail EBIT of ₹ 5,546 crore, up 169% YoY

• Retail now has 10,415 stores with reach across 6,600+ towns and cities, area of over 22 Mn sq. ft.

Jio

• EBITDA of ₹ 15,102 crore, up 2.25x on YoY basis, EBITDA margin of 38.9%

• Net profit of ₹ 2,964 crore

• India’s largest wireless data subscriber base (306.7 Mn as of 31 March)

• 10.9 GB per user per month; highest voice consumption per sub at 823 minutes per month

• Likely highest ARPU in the industry at Rs 126 per month in 4QFY19

Buy Sell for tomorrow stocks NSE

Stock shorts and long on trending bases for tomorrow trades.

Stock only tradeable if trade below previous low and high in respective sell and buy trend.

with a stop loss of respective high and low of the previous day!

Disc..stocks list given for education purpose only!

MCX

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