Saturday, September 24, 2016

THE WEEK AHEAD

Market may remain volatile ahead of near month F&O expiry


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 market trend in the near term.

The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month September 2016 series to October 2016 series. The near month September 2016 derivatives contracts expire on Thursday, 29 September 2016.

Investors will continue to track the progress of monsoon rains. The India Meteorological Department (IMD) in its weekly monsoon update issued on 22 September 2016 said that for the country as a whole, cumulative rainfall during this year's monsoon has so far upto 21 September 2016 been 5% below long period average (LPA).

Shares of interest rate sensitive sectors may see some action ahead of the monetary policy. The Reserve Bank of India (RBI) will unveil fourth bi-monthly monetary policy statement for the year ending March 2017 on 4 October 2016.

On the global front, US New Home Sales data for August 2016 will be unveiled on Monday, 26 September 2016. US CB Consumer Confidence data for September 2016 will be unveiled on Tuesday, 27 September 2016.

US Gross Domestic Product (GDP) data for the second quarter (Q2) (QoQ) will be unveiled on Thursday, 29 September 2016. US Pending Home Sales data for August 2016 will be unveiled on Thursday, 29 September 2016.

UK GDP data for the second quarter (Q2) will be unveiled on Friday, 30 September 2016.

THE WEEK THAT WAS

Market gains on positive global cues


The market rose last week mirroring gains in the global markets. Investors' risk appetite improved after the US Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year and in 2018. Concluding a two-day meeting, the Federal Open Market Committee (FOMC) announced that the federal funds rate will remain at 0.25% to 0.5%. The Fed also said risks to the economy have diminished since its last meeting in July. The Fed last raised rates in December 2015, the first hike in almost a decade.

In the week ended Friday, 23 September 2016, the Sensex rose 69.19 points or 0.24% to settle at 28,668.22. The gains for the Nifty 50 index were higher in percentage terms than those for the Sensex. The Nifty rose 51.70 points or 0.59% to settle at 8,831.55. The BSE Mid-Cap index rose 281.46 points or 2.16% to settle at 13,331.97. The BSE Small-Cap index rose 194.03 points or 1.52% to settle at 12,958.90. Both these indices outperformed the Sensex.

Trading for the week began on a dull note as key benchmark indices settled with small gains in a lacklustre trading session on Monday, 19 September 2016. The barometer index, the S&P BSE Sensex, rose 35.47 points or 0.12% to settle at 28,634.50. The gains for the Nifty 50 index were higher than those for the Sensex in percentage terms. The Nifty rose 28.55 points or 0.33% to settle at 8,808.40.

Auto, telecom sector stocks and index heavyweight Infosys led modest losses for key benchmark indices on Tuesday, 20 September 2016. The barometer index, the S&P BSE Sensex, fell 111.30 points or 0.39% to settle at 28,523.20. The Nifty 50 index fell 32.50 points or 0.37% to settle at 8,775.90. Weakness in global stocks weighed on sentiment on the domestic bourses.

Key benchmark indices ended near the flat line after holding positive zone for most part of the session on Wednesday, 21 September 2016. The barometer index, the S&P BSE Sensex, fell 15.78 points or 0.06% to settle at 28,507.42. The Nifty 50 index rose 1.25 points or 0.01% to settle at 8,777.15. With minuscule losses, the Sensex hit its lowest closing level in almost a week.

Banking, auto sector stocks and index heavyweights Reliance Industries and HDFC led decent gains for key benchmark indices on Thursday, 22 September 2016. The barometer index, the S&P BSE Sensex, rose 265.71 points or 0.93% to settle at 28,773.13. The gains for the Nifty 50 index were higher than those for the Sensex in percentage terms. The Nifty rose 90.30 points or 1.03% to settle at 8,867.45.

Banking, telecom sector stocks and index heavyweight Infosys led modest losses for key benchmark indices in a lacklustre trading session on Friday, 23 September 2016. The barometer index, the S&P BSE Sensex, lost 104.91 points or 0.36% to settle at 28,668.22. The Nifty 50 index lost 35.90 points or 0.4% to settle at 8,831.55.

Among the 30 Sensex shares, 19 rose, 10 shares fell and one stock was unchanged.
State-run ONGC was the biggest sensex gainer last week. The stock rose 3.66% to Rs 260.50.

Index heavyweight Reliance Industries rose 2.54% at Rs 1,102.95.

Tata Steel rose 3.58% to Rs 371.90.

Index heavyweight and cigarette major ITC fell 2.52% to Rs 253.85.

Index heavyweight and IT major Infosys fell 1.64% to Rs 1,043.

Asian Paints rose 2.89% to Rs 1,189.35 after Asian Paints (International) transferred its entire stake in Asian Paints (Lanka) to Berger International. Asian Paints said that as a part of the company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company, has transferred its entire holding of 99.18% held in the subsidiary company, Asian Paints (Lanka), Sri Lanka, to Berger International, Singapore, a wholly owned subsidiary of APIL. The transfer process has been completed on 19 September 2016.

ICICI Bank fell 1.36% to Rs 271.80. The initial public offer (IPO) of private sector life insurance company ICICI Prudential Life Insurance Company saw strong demand from investors. The IPO of ICICI Prudential Life Insurance Company (ICICI Prudential) ended with strong demand from investors. The issue received bids for 138.77 crore shares and it was subscribed 10.48 times. The bidding for the IPO concluded on 21 September 2016. The IPO had opened for bidding on 19 September 2016. The price band for the IPO was Rs 300 to Rs 334 per share. The IPO comprised sale of up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS will be paid to ICICI Bank.

HDFC Bank rose 1.16% to Rs 1,313.15 after the bank said that it has allotted 67,000 senior, unsecured, redeemable, long-term non-convertible bonds in the nature of debentures having face value of Rs 10 lakh each amounting to Rs 6700 crore on a private placement basis. The announcement was made on Thursday, 22 September 2016.

Axis Bank was the top Sensex loser last week. The stock fell 7.28% to Rs 557.40. The bank signed a Share Purchase Agreement with IFCI for acquisition of 73.28 lakh equity shares (13.67% of total outstanding shares) of face value of Rs 10 per share in Assets Care and Reconstruction Enterprise (ACRE) from IFCI at Rs 31 per share, resulting in a total cash consideration of Rs 22.72 crore. The transaction is subject to requisite regulatory approvals, including from Reserve Bank of India (RBI), Axis Bank said. The indicative time period for completion of transaction is January 2017, the bank said. ACRE had total assets of Rs 336 crore and total income of Rs 35.90 crore in the year ended 31 March 2016 (FY 2016). ACRE was registered with RBI as a securitisation company. The announcement was made after market hours on Friday, 16 September 2016.

Housing finance major HDFC rose 1.49% to Rs 1,421.15 after the company announced that it intends to raise Rs 1340 crore through issue of non-convertible debentures on private placement basis. The debentures of face value of Rs 1 crore will carry a coupon rate of 7.67% per annum and will have a tenor of 1 year 2 months. The object of the issue is to augment the long term resources of the company. The proceeds of the issue would be utilised for financing/refinancing the housing finance business requirements of the company. The issue opened on Friday, 23 September 2016 and closed on the same day.

Engineering and construction major L&T rose 1.44% to Rs 1,496.80. The company signed the principle contract with Vietnam Border Guard valued at $99.7 million for design and construction of high speed patrol vessels in India. The announcement was made on Thursday, 22 September 2016.

Shares of L&T Technology Services settled at Rs 865.10 on BSE, at a premium of 0.59% over the initial public offer (IPO) price of Rs 860 per share on its debut on the bourses on Friday, 23 September 2016. The stock made its debut at Rs 900, a premium of 4.65% over the IPO price. The company had priced the IPO at Rs 860 per share, the top end of the Rs 850-860 per share price band for the IPO. The IPO which closed on 15 September 2016 received strong response from investors. The IPO comprised of an offer for sale of 1.04 crore shares by engineering and construction major L&T. L&T Technology Services did not receive any funds from the IPO. L&T's stake in L&T Technology Services has fallen to 89.77% from 100% earlier after the IPO.

Dr Reddy's Laboratories rose 0.95% to Rs 3,181.10 after the company launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (Paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddy's Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market. The announcement was made on Monday, 19 September 2016.

Drug major Lupin fell 3.21% to Rs 1,488.75.

Car major Maruti Suzuki India (Maruti) rose 0.65% at Rs 5,602.20. The company said it has attained cumulative exports of 15 lakh vehicles. In 2015-16, the top five exported models for the company were Alto, Swift, Celerio, Baleno and Ciaz. Among destinations, Sri Lanka, Chile, Philippines, Peru and Bolivia emerged as the top markets for Maruti Suzuki export models. The newly launched light commercial vehicle, Super Carry, is also exported to South Africa and Tanzania and will be exported to SAARC countries in the future, Maruti said. The announcement was made on Friday, 23 September 2016.

State-run Power Grid Corporation of India rose 0.14% to Rs 175.80. The company said that its board of directors at a meeting held on 16 September 2016 accorded investment approval for "System Strengthening in Southern Region - XXI" at an estimated cost of Rs 562.25 crore, with commissioning schedule of 30 months progressively from the date of investment approval. The announcement was made after market hours on Friday, 16 September 2016.

On the macro front, the Union Cabinet on Wednesday, 21 September 2016, approved the proposals of Ministry of Finance on certain landmark budgetary reforms including the merger of Railway budget with the Union Budget, the advancement of the date of Budget presentation from the last day of February to the 1st of February every year and the merger of the Plan and the Non-Plan classification in the Budget and Accounts. The presentation of a unified budget will bring the affairs of the Railways to centre stage and present a holistic picture of the financial position of the Government, according to a government statement. Consequent to the merger, the appropriations for Railways will form part of the main Appropriation Bill.

The advancement of budget presentation by a month and completion of Budget related legislative business before 31 March would pave the way for early completion of Budget cycle and enable Ministries and Departments to ensure better planning and execution of schemes from the beginning of the financial year and utilization of the full working seasons including the first quarter. The exact date of presentation of Budget for 2017-18 would be decided keeping in view the date of assembly elections to be held in States. Meanwhile, the merger of plan and non-plan expenditure in the budget is expected to provide appropriate budgetary framework having focus on the revenue, and capital expenditure.

Separately, the Union Cabinet on Wednesday, 21 September 2016, gave its approval for raising a total of Rs 31300 crore in the current financial year (FY 2017) and to service the principal and interest against the Extra Budgetary Resources (EBR) of Rs 16300 crore by Government of India (GoI) to augment infrastructure spending. The move is intended to supplement the efforts of the government to improve infrastructure spending and to improve the revenue-capital mix of the expenditure for a more sustainable growth.

Meanwhile, the government on Thursday, 22 September 2016, named three outside experts as members of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI). The Appointments Committee of the Cabinet approved the names of Chetan Ghate, a professor at Indian Statistical Institute; Pami Dua, director at Delhi School of Economics (DSE); and Ravindra Dholakia, professor at Indian Institute of Management, Ahmedabad, as MPC members. The six-member MPC—the other three members are from RBI—will conduct its first monetary policy review on 4 October 2016. The members of the committee from RBI are Governor Urjit Patel, deputy governor R. Gandhi, who is also in charge of the monetary policy, and executive director Michael Patra. The RBI governor will have a casting vote in case of a tie.
Data released by the Reserve Bank of India (RBI) after trading hours on Wednesday, 21 September 2016, showed that India's current account deficit (CAD) narrowed to $0.3 billion or 0.1% of GDP in Q1 June 2016, which was significantly lower than CAD of $6.1 billion or 1.2% of GDP in Q1 June 2015. The contraction in the CAD was primarily on account of a lower trade deficit.

THE END SESSION ( 23 - 09 - 2016 )

Sensex, Nifty settle with modest losses


Banking, telecom sector stocks and index heavyweight Infosys led modest losses for key benchmark indices in a lacklustre trading session. The barometer index, the S&P BSE Sensex, lost 104.91 points or 0.36% to settle at 28,668.22. The Nifty 50 index lost 35.90 points or 0.4% to settle at 8,831.55. Weakness in European and Asian stocks weighed on sentiment on the domestic bourses. Key indices extended intraday slide towards the latter part of the trading session after hovering in a narrow range around the flat line till afternoon trade.

Index heavyweight Reliance Industries edged higher. Shares of L&T Technology Services settled near the initial public offer (IPO) price on its debut. Bharat Heavy Electricals (Bhel) dropped in volatile trade.

In overseas stock markets, European stocks edged lower after the euro zone flash composite Purchasing Managers' Index (PMI) fell to 52.6 in September 2016, from August's reading of 52.9. Asian stocks edged lower amid a slew of economic data. In mainland China, the Shanghai Composite settled 0.28% lower. In Hong Kong, the Hang Seng closed 0.39% lower. The MNI China business sentiment index came it at 55.8 in September 2016, up from a marginally revised 54.1 in August, driven by a faster increase in new orders and a further strengthening in confidence among manufacturing companies. In Japan, the Nikkei 225 Average ended 0.32% lower. Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed today, 23 September 2016. The IHS Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) rose to 50.3 in September from a final 49.5 in August on a seasonally adjusted basis.

US stocks registered modest gains yesterday, 22 September 2016, extending previous trading session's gains as investors digested several economic data releases and the Federal Reserve's latest monetary policy decision. US home resales unexpectedly fell in August 2016. The National Association of Realtors said yesterday, 22 September 2016 that existing home sales declined 0.9% to an annual rate of 5.33 million units.

The Sensex lost 104.91 points or 0.36% to settle at 28,668.22, its lowest closing level since 21 September 2016. The index rose 51.96 points or 0.18% at the day's high of 28,825.09. The index lost 145.75 points or 0.5% at the day's low of 28,627.38.

The Nifty lost 35.90 points or 0.4% to settle at 8,831.55, its lowest closing level since 21 September 2016. The index rose 17.75 points or 0.2% at the day's high of 8,885.20. The index lost 47.15 points or 0.53% at the day's low of 8,820.30.

The BSE Mid-Cap index rose 0.28%. The BSE Small-Cap index rose 0.08%. Both these indices outperformed the Sensex.

The market breadth indicating the overall health of the market was negative. On BSE, 1,496 shares declined and 1,168 shares rose. A total of 252 shares were unchanged.
The total turnover on BSE amounted to Rs 3653 crore, higher than turnover of Rs 3311.63 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Bankex index (down 1.23%), the BSE Utilities index (down 0.67%), the BSE Telecom index (down 0.43%) and the BSE Power index (down 0.61%) underperformed the Sensex. The BSE Auto index (down 0.24%), the BSE Capital Goods index (down 0.12%), the BSE Oil & Gas index (up 0.74%) and the BSE Realty index (up 1.01%) outperformed the Sensex.

Index heavyweight and software major Infosys was down 1.46% at Rs 1,043. The stock hit a high of Rs 1,059.85 and a low of Rs 1,040 in intraday trade.

Index heavyweight Reliance Industries was up 1.41% at Rs 1,102.95. The stock hit a high of Rs 1,109.20 and a low of Rs 1,088 in intraday trade.

Bank stocks edged lower. Among public sector banks, Canara Bank (down 1.75%), IDBI Bank (down 1.61%), Indian Bank (down 0.99%), State Bank of India (down 1.15%), Bank of India (down 1.05%), Punjab National Bank (down 1.21%), Union Bank of India (down 0.65%) and Bank of Baroda (down 0.21%) declined.

Among private sector banks, Axis Bank (down 5.84%), ICICI Bank (down 1.36%), Yes Bank (down 1.11%) and IndusInd Bank (down 0.77%) edged lower. Kotak Mahindra Bank (up 0.01%) and RBL Bank (up 0.56%) edged higher.

Index heavyweight HDFC Bank was up 0.42% at Rs 1,313.15. The stock hit a high of Rs 1,318.20 and a low of Rs 1,303 in intraday trade.

Telecom stocks declined. Reliance Communications (down 1.54%) and Idea Cellular (down 1.32%) edged lower. Bharti Airtel (up 0.08%) edged higher. Bharti Infratel was down 1.11%. Bharti Infratel is a telecom tower arm of Bharti Airtel.

Shares of L&T Technology Services settled at Rs 865.10 on BSE, at a premium of 0.59% over the initial public offer (IPO) price of Rs 860 per share on its debut on the bourses today, 23 September 2016. The stock made its debut at Rs 900, a premium of 4.65% over the IPO price. The stock hit a high of Rs 931 and low of Rs 860 in intraday trade. The company had priced the IPO at Rs 860 per share, the top end of the Rs 850-860 per share price band for the IPO. The IPO which closed on 15 September 2016 received strong response from investors. The IPO comprised of an offer for sale of 1.04 crore shares by engineering and construction major L&T. L&T Technology Services did not receive any funds from the IPO. L&T's stake in L&T Technology Services has fallen to 89.77% from 100% earlier after the IPO.

Shares of L&T shed 0.15% at Rs 1,496.80.

Bharat Heavy Electricals (Bhel) dropped in volatile trade. The stock lost 0.61% at Rs 146.20. The stock hit a high of Rs 150.70 and a low of Rs 145.75 in intraday trade. The company's chairman & managing director Atul Sobti said that the company recorded its highest-ever commissioning of projects and highest order booking in the last five years in the financial year ended 31 March 2016 (FY 2016), with significant traction in growth drivers. Addressing shareholders at the company's annual general meeting yesterday, 22 September 2016, Sobti said that enhanced focus on project execution has resulted in Bhel creating history by way of commissioning/synchronizing an all-time high 15,059 megawatts (MW) of power generating equipment during the year. Despite intense competitive pressure in the power and capital goods markets during the year, Bhel achieved the highest order booking in the last five years, at Rs 43727 crore, a 42% leap over FY 2015. The company ended FY 2016 with a total order book of Rs 110730 crore for execution in FY 2017 and beyond. The announcement was made after market hours yesterday, 22 September 2016.

Meanwhile, the government yesterday, 22 September 2016, named three outside experts as members of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI). The Appointments Committee of the Cabinet approved the names of Chetan Ghate, a professor at Indian Statistical Institute; Pami Dua, director at Delhi School of Economics (DSE); and Ravindra Dholakia, professor at Indian Institute of Management, Ahmedabad, as MPC members. The six-member MPC—the other three members are from RBI—will conduct its first monetary policy review on 4 October 2016. The members of the committee from RBI are Governor Urjit Patel, deputy governor R. Gandhi, who is also in charge of the monetary policy, and executive director Michael Patra. The RBI governor will have a casting vote in case of a tie.

Thursday, September 22, 2016

NIFTY INTRADAY VIEW ( 23 - 09 - 2016 )

NIFTY INTRADAY LEVELNIFTY PROBABLE HIGHNIFTY PROBABLE LOW
R48994BULL89128737
R38941UP BREAKOUT88778772
R28921UP CAUTIONLEVEL FOR LONGLEVEL FOR SHORT
R18908SELL88468785
PIVOT8846 LAST DAYCONFUSION TREND
S18827BUYOPEN8873
S28814DOWN CAUTIONHIGH8893.0
S38794DOWN BREAK OUTLOW8838.0
S48741BEARCLOSE8867.45
NIFTY MONTHLY LEVELNIFTY DAILY VOLATALITY0.62%
R26082LONGNIFTY WEEKLY VOLATALITY1.63%
R15976SHORT EXITNIFTY WEEKLY HIGH8893.0
S15765LONG EXITNIFTY WEEKLY LOW8750.0
S25659SHORTNIFTY DAY MEAN8821.5

THE END SESSION ( 22 - 09 - 2016 )

Nifty attains 2-week closing high


Banking, auto sector stocks and index heavyweights Reliance Industries and HDFC led decent gains for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 265.71 points or 0.93% to settle at 28,773.13. The gains for the Nifty 50 index were higher than those for the Sensex in percentage terms. The Nifty rose 90.30 points or 1.03% to settle at 8,867.45. Gains in global markets aided the upmove on the domestic bourses. The Sensex closed at its highest level in almost two-weeks. The Nifty attained two-week closing high.

In overseas stock markets, European and Asian stocks edged higher mirroring gains in the US market after the Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year and in 2018. US stocks registered strong gains yesterday, 21 September 2016, after the Federal Reserve kept interest rates unchanged but hinted at the possibility of a rate hike later this year. Concluding a two-day meeting, the Federal Open Market Committee (FOMC) announced that the federal funds rate will remain at 0.25% to 0.5%. The Fed also said risks to the economy have diminished since its last meeting in July. The Fed last raised rates in December 2015, the first hike in almost a decade.

Back home, the Sensex rose 265.71 points or 0.93% to settle at 28,773.13, its highest closing level since 9 September 2016. The index surged 364.50 points or 1.28% at the day's high of 28,871.92. The index rose 185.65 points or 0.65% at the day's low of 28,693.07.

The Nifty 50 index rose 90.30 points or 1.03% to settle at 8,867.45, its highest closing level since 8 September 2016 . The index jumped 116.20 points or 1.32% at the day's high of 8,893.35. The index rose 60.65 points or 0.69% at the day's low of 8,837.80.
The market breadth indicating the overall health of the market was strong. On BSE, 1,693 shares rose and 1,045 shares declined. A total of 235 shares were unchanged. The BSE Mid-Cap index rose 1.39%. The BSE Small-Cap index rose 1%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 3298 crore, higher than turnover of Rs 3180.94 crore registered during the previous trading session.

Among sectoral indices on BSE, the S&P BSE Finance index (up 1.65%), the S&P BSE Oil & Gas index (up 1.51%), the S&P BSE Bankex (up 1.49%), the S&P BSE Auto index (up 1.44%), the S&P BSE Capital Goods index (up 1.37%), the S&P BSE Power index (up 1.36%), the S&P BSE Utilities index (up 1.35%), the S&P BSE Energy index (up 1.30%), the S&P BSE Industrials index (up 1.28%), the S&P BSE Basic Materials index (up 1.26%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.20%), the S&P BSE Realty index (up 1.16%), the S&P BSE Telecom index (up 1.06%), the S&P BSE Metal index (up 1.03%) and the S&P BSE Healthcare index (up 1.02%), underperformed the Sensex. The S&P BSE Consumer Durables index (up 0.89%), the S&P BSE FMCG index (up 0.42%), the S&P BSE Teck index (down 0.12%) and the S&P BSE IT index (down 0.36%), outperformed the Sensex.

Banks were in demand. Among state-run banks, Punjab National Bank (up 3.87%), Bank of India (up 3.10%), Vijaya Bank (up 3%), Central Bank of India (up 2.90%), Bank of Baroda (up 2.88%), Allahabad Bank (up 2.87%), Andhra Bank (up 2.69%), IDBI Bank (up 2.68%), State Bank of India (up 2.39%), Syndicate Bank (up 2.34%), Canara Bank (up 1.94%), Dena Bank (up 1.72%), Punjab & Sind Bank (up 1.45%), Indian Bank (up 1.15%), Corporation Bank (up 0.80%), UCO Bank (up 0.65%), Bank of Maharashtra (up 0.48%) and United Bank of India (up 0.23%), edged higher.

Union Bank of India rose 3.08% at Rs 145.75 after the bank said that it has completed the acquisition of 49% shareholding of Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participations Renta S.A. and its affiliates (KBC Asset Management NV) on 20 September 2016. Accordingly, Union KBC Asset Management Company and Union KBC Trustee Company have become wholly owned subsidiaries of Union Bank of India. The announcement was made after market hours yesterday, 21 September 2016.

Last year, the board of Union Bank of India approved purchase of 49% stake in Union KBC Asset Management and Union KBC Trustee Company from KBC Participations Renta. KBC Participations Renta is a group company of Luxembourg-based KBC Asset Management NV. Union Bank of India and KBC Asset Management NV had formed two joint ventures - Union KBC Asset Management Company and Union KBC Trustee Company - in 2009 with 51% and 49% holding, respectively.

Among private sector banks, Federal Bank (up 3.10%), IndusInd Bank (up 2.98%), Yes Bank (up 2.34%), ICICI Bank (up 2.19%), Kotak Mahindra Bank (up 0.84%) and RBL Bank (up 0.67%), edged higher. City Union Bank (down 0.65%) and Axis Bank (down 1.01%), edged lower.

Index heavyweight HDFC Bank rose 1.25% at Rs 1,309 after the bank said it has allotted senior, unsecured, redeemable, long-term non-convertible bonds in the nature of debentures amounting to Rs 6700 crore on a private placement basis. The announcement was made during market hours today, 22 September 2016.

Index heavyweight and housing finance major HDFC rose 1.71% at Rs 1,416 after the company announced that it intends to raise Rs 1340 crore through issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.67% per annum and will have a tenor of 1 year 2 months. The issue will open and close on the same day tomorrow, 23 September 2016. The announcement was made after market hours yesterday, 21 September 2016.
Index heavyweight Reliance Industries rose 1.52% at Rs 1,087.65. The stock hit a high of Rs 1,095.50 and a low of Rs 1,079.10 in intraday trade.

Aurobindo Pharma jumped 6.33% to Rs 857.15 after the company during trading hours today, 22 September 2016, said it received tentative approval of Dolutegravir 50mg from US Food & Drug Administration (USFDA) for the treatment of HIV. This important milestone marks the first FDA approval of a generic version of Dolutegravir (DTG), an integrase strand transfer inhibitor recommended for use in treatment-naïve patients by the US Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO). Through an innovative collaboration with ViiV and the Clinton Health Access Initiative, Inc. (CHAI), the product is expected to be launched in sub-Saharan Africa in late 2016. The approved Abbreviated New Drug Application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Tivicay, of ViiV Healthcare. ViiV Healthcare and Aurobindo Pharma signed a licensing agreement in 2014 that allows Aurobindo Pharma to supply Dolutegravir 50mg in 92 licensed countries, following completion of required local regulatory approval processes.

Auto stocks rose. TVS Motor Company (up 4.83%), Escorts (up 3.48%), Eicher Motors (up 3.18%), Hero MotoCorp (up 2.27%), Maruti Suzuki (India) (up 1.69%), Tata Motors (up 1.52%), Ashok Leyland (up 1.14%) and Bajaj Auto (up 0.80%), edged higher.
Mahindra & Mahindra (M&M) rose 0.43% at Rs 1,413.60. The company announced the proactive inspection of a fluid hose on all New Generation Scorpio & NuvoSport vehicles, manufactured till June 2016. This is in keeping with the company's customer centric approach, the company said. The inspection and subsequent rectification will be carried out free of cost for all New Generation Scorpio & NuvoSport customers, who will be individually contacted by the company. As an endeavor to ensure a hassle free experience for its customers, the company is proactively carrying out this activity, it said. This action is also in compliance with SIAM's voluntary code on vehicle recall, M&M said. The announcement was made after market hours yesterday, 21 September 2016.

Engineering and construction major L&T rose 1.88% at Rs 1,499 after the company said it has signed the principle contract with Vietnam Border Guard valued at $99.7 million for design and construction of high speed patrol vessels in India as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard. The announcement was made during market hours today, 22 September 2016.

The Sensex bounced back today, 22 September 2016, after two-day fall. The Sensex had lost 127.08 points or 0.44% in the preceding two trading sessions to settle at 28,507.42 yesterday, 21 September 2016, from its close of 28,634.50 on 19 September 2016. The Sensex has gained 320.96 points or 1.13% in this month so far (till 22 September 2016). The Sensex has risen 2,655.59 points or 10.17% in calendar year 2016 so far (till 22 September 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 6,278.52 points or 27.91%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 304.15 points or 1.05%. The Sensex is off 1,251.61 points or 4.17% from a record high of 30,024.74 hit on 4 March 2015.

On the macro front, data released by the Reserve Bank of India (RBI) after trading hours yesterday, 21 September 2016, showed that India's current account deficit (CAD) narrowed to $0.3 billion or 0.1% of GDP in Q1 June 2016, which was significantly lower than CAD of $6.1 billion or 1.2% of GDP in Q1 June 2015. The contraction in the CAD was primarily on account of a lower trade deficit.

Wednesday, September 21, 2016

John Murphy's Ten Laws of Technical Trading



Study long-term charts. Begin a chart analysis with monthly and weekly charts spanning several years. A larger scale map of the market provides more visibility and a better long-term perspective on a market. Once the long-term has been established, then consult daily and intra-day charts. A short-term market view alone can often be deceptive. Even if you only trade the very short term, you will do better if you're trading in the same direction as the intermediate and longer term trends.

@@@@@@@@@@@@

Determine the trend and follow it. Market trends come in many sizes – long-term, intermediate-term and short-term. First, determine which one you're going to trade and use the appropriate chart. Make sure you trade in the direction of that trend. Buy dips if the trend is up. Sell rallies if the trend is down. If you're trading the intermediate trend, use daily and weekly charts. If you're day trading, use daily and intra-day charts. But in each case, let the longer range chart determine the trend, and then use the shorter term chart for timing.

@@@@@@@@@@@@

Find support and resistance levels. The best place to buy a market is near support levels. That support is usually a previous reaction low. The best place to sell a market is near resistance levels. Resistance is usually a previous peak. After a resistance peak has been broken, it will usually provide support on subsequent pullbacks. In other words, the old "high" becomes the new low. In the same way, when a support level has been broken, it will usually produce selling on subsequent rallies – the old "low" can become the new "high."

@@@@@@@@@@@@

Measure percentage retracements. Market corrections up or down usually retrace a significant portion of the previous trend. You can measure the corrections in an existing trend in simple percentages. A fifty percent retracement of a prior trend is most common. A minimum retracement is usually one-third of the prior trend. The maximum retracement is usually two-thirds. Fibonacci retracements of 38% and 62% are also worth watching. During a pullback in an uptrend, therefore, initial buy points are in the 33-38% retracement area.

@@@@@@@@@@@@@@

Draw trend lines. Trend lines are one of the simplest and most effective charting tools. All you need is a straight edge and two points on the chart. Up trend lines are drawn along two successive lows. Down trend lines are drawn along two successive peaks. Prices will often pull back to trend lines before resuming their trend. The breaking of trend lines usually signals a change in trend. A valid trend line should be touched at least three times. The longer a trend line has been in effect, and the more times it has been tested, the more important it becomes.

@@@@@@@@@@@@@

Follow moving averages. Moving averages provide objective buy and sell signals. They tell you if existing trend is still in motion and help confirm a trend change. Moving averages do not tell you in advance, however, that a trend change is imminent. A combination chart of two moving averages is the most popular way of finding trading signals. Some popular futures combinations are 4- and 9-day moving averages, 9- and 18-day, 5- and 20-day. Signals are given when the shorter average line crosses the longer. Price crossings above and below a 40-day moving average also provide good trading signals. Since moving average chart lines are trend-following indicators, they work best in a trending market.

@@@@@@@@@@@@@

Track oscillators. Oscillators help identify overbought and oversold markets. While moving averages offer confirmation of a market trend change, oscillators often help warn us in advance that a market has rallied or fallen too far and will soon turn. Two of the most popular are the Relative Strength Index (RSI) and Stochastics. They both work on a scale of 0 to 100. With the RSI, readings over 70 are overbought while readings below 30 are oversold. The overbought and oversold values for Stochastics are 80 and 20. Most traders use 14-days or weeks for stochastics and either 9 or 14 days or weeks for RSI. Oscillator divergences often warn of market turns. These tools work best in a trading market range. Weekly signals can be used as filters on daily signals. Daily signals can be used as filters for intra-day charts.

@@@@@@@@@@@@

Trade MACD. The Moving Average Convergence Divergence (MACD) indicator (developed by Gerald Appel) combines a moving average crossover system with the overbought/oversold elements of an oscillator. A buy signal occurs when the faster line crosses above the slower and both lines are below zero. A sell signal takes place when the faster line crosses below the slower from above the zero line. Weekly signals take precedence over daily signals. An MACD histogram plots the difference between the two lines and gives even earlier warnings of trend changes. It's called a "histogram" because vertical bars are used to show the difference between the two lines on the chart.

@@@@@@@@@@@@@

Use ADX. The Average Directional Movement Index (ADX) line helps determine whether a market is in a trending or a trading phase. It measures the degree of trend or direction in the market. A rising ADX line suggests the presence of a strong trend. A falling ADX line suggests the presence of a trading market and the absence of a trend. A rising ADX line favors moving averages; a falling ADX favors oscillators. By plotting the direction of the ADX line, the trader is able to determine which trading style and which set of indicators are most suitable for the current market environment.

@@@@@@@@@@@@@@@

Include volume and open interest. Volume and open interest are important confirming indicators in futures markets. Volume precedes price. It's important to ensure that heavier volume is taking place in the direction of the prevailing trend. In an uptrend, heavier volume should be seen on up days. Rising open interest confirms that new money is supporting the prevailing trend. Declining open interest is often a warning that the trend is near completion. A solid price uptrend should be accompanied by rising volume and rising open interest.

@@@@@@@@@@@@@@@

Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.
- John Murphy

Tuesday, September 20, 2016

NIFTY INTRADAY VIEW ( 21 - 09 - 2016 )

NIFTY INTRADAY LEVELNIFTY PROBABLE HIGHNIFTY PROBABLE LOW
R48842BULL88468730
R38816UP BREAKOUT88178759
R28807UP CAUTIONLEVEL FOR LONGLEVEL FOR SHORT
R18800SELL88298761
PIVOT8784 LAST DAYBEAR WITH LV
S18751BUYOPEN8816
S28745DOWN CAUTIONHIGH8816.0
S38736DOWN BREAK OUTLOW8759.0
S48710BEARCLOSE8775.9
NIFTY MONTHLY LEVELNIFTY DAILY VOLATALITY0.65%
R26082LONGNIFTY WEEKLY VOLATALITY1.83%
R15976SHORT EXITNIFTY WEEKLY HIGH8848.0
S15765LONG EXITNIFTY WEEKLY LOW8689.0
S25659SHORTNIFTY DAY MEAN8768.5

THE END SESSION ( 20 - 09 - 2016 )

Market snaps 4-day rising streak


Auto, telecom sector stocks and index heavyweight Infosys led modest losses for key benchmark indices. The barometer index, the S&P BSE Sensex, fell 111.30 points or 0.39% to settle at 28,523.20. The Nifty 50 index fell 32.50 points or 0.37% to settle at 8,775.90. Weakness in global stocks weighed on sentiment on the domestic bourses.
In overseas stock markets, European stocks were mixed. Asian stocks edged lower as investors awaited the outcomes of separate policy meetings of the US Federal Reserve and Bank of Japan (BOJ). The BOJ begins a two-day monetary policy meeting today, 20 September 2016. The central bank will conduct a comprehensive review of its stimulus programme after failing to reach its 2% inflation target. 

Investors are divided on what steps the central bank will take. Some expect that the BOJ will push back additional easing steps, while making its government bond buying more flexible to steepen the yield curve. Others expect the BOJ to launch fresh stimulus through a further push into negative territory and increased asset purchases. The central bank had kept its pledge to increase the monetary base at an annual pace of about 80 trillion yen and left the interest rate unchanged at minus 0.1% at its July 2016 meeting. Policymakers also decided to increase the annual exchange-traded equity funds purchase target to 6 trillion yen from the previous 3.3 trillion yen.

US stocks registered tiny losses yesterday, 19 September 2016, after a choppy session, with telecommunications shares lagging. The US Federal Reserve policy makers begin their two-day policy meeting today, 20 September 2016. The Fed is expected to keep its benchmark interest rate unchanged in the wake of recent downbeat US economic indicators. The Fed left the target range for its federal funds rate unchanged at 0.25% to 0.5% for the fifth time during its July 2016 meeting.

Back home, the Sensex fell 111.30 points or 0.39% to settle at 28,523.20, its lowest closing level since 15 September 2016 . The index rose 64.31 points, or 0.22% at the day's high of 28,698.81. The index fell 153.97 points, or 0.54% at the day's low of 28,480.53.

The Nifty 50 index fell 32.50 points or 0.37% to settle at 8,775.90, its lowest closing level since 15 September 2016 . The index rose 8.05 points, or 0.09% at the day's high of 8,816.45. The index fell 49.10 points, or 0.56% at the day's low of 8,759.30.

The market breadth indicating the overall health of the market was negative. On BSE, 1,513 shares declined and 1,197 shares rose. A total of 209 shares were unchanged. The BSE Mid-Cap index fell 0.09%. The BSE Small-Cap index fell 0.26%. The losses for both these indices were lower than the Sensex's decline in percentage terms.
Among the sectoral indices on BSE, the S&P BSE Metal index (up 0.34%), the S&P BSE Oil & Gas index (up 0.18%), the S&P BSE Basic Materials index (down 0.01%), the S&P BSE Energy index (down 0.04%), the S&P BSE Healthcare index (down 0.06%), the S&P BSE Finance index (down 0.11%), the S&P BSE Bankex (down 0.31%), the S&P BSE Consumer Durables index (down 0.32%), the S&P BSE Teck index (down 0.37%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.38%) and the S&P BSE Telecom index (down 0.38%), outperformed the Sensex. The S&P BSE IT index (down 0.42%), the S&P BSE FMCG index (down 0.52%), the S&P BSE Capital Goods index (down 0.53%), the S&P BSE Utilities index (down 0.57%), the S&P BSE Auto index (down 0.62%), the S&P BSE Industrials index (down 0.62%), the S&P BSE Power index (down 0.75%) and the S&P BSE Realty index (down 1.94%), underperformed the Sensex.

The total turnover on BSE amounted to Rs 5323.51 crore, higher than turnover of Rs 3615.78 crore registered during the previous trading session.

Index heavyweight and software major Infosys fell 1.02% at Rs 1,050.35. The stock hit a high of Rs 1,057.25 and a low of Rs 1,046.50 in intraday trade.

Banks stocks witnessed selling pressure. Among state-run banks, IDBI Bank (down 2.05%), Allahabad Bank (down 1.85%), United Bank of India (down 1.37%), Syndicate Bank (down 1.06%), Dena Bank (down 0.79%), UCO Bank (down 0.77%), Punjab & Sind Bank (down 0.56%), State Bank of India (down 0.55%), Bank of Maharashtra (down 0.48%), Bank of India (down 0.47%), Punjab National Bank (down 0.47%), Union Bank of India (down 0.18%) and Corporation Bank (down 0.12%), edged lower. Bank of Baroda (up 0.24%), Indian Bank (up 0.35%), Vijaya Bank (up 0.50%) and Andhra Bank (up 0.84%), edged higher.

Canara Bank gained 0.50% at Rs 304.20 after the bank's board of directors scheduled a board meeting on 23 September 2016 to consider raising of capital by way of a rights issue and strengthening of capital to risk weighted assets ratio (CRAR) of the bank. The announcement was made after market hours yesterday, 19 September 2016.

Among private sector banks, Federal Bank (down 2.84%), IndusInd Bank (down 1.82%), RBL Bank (down 1.43%), Kotak Mahindra Bank (down 1.08%), City Union Bank (down 0.27%), Axis Bank (down 0.25%) and HDFC Bank (down 0.19%), edged lower. ICICI Bank (up 0.06%) and Yes Bank (up 2.25%), edged higher.

Karur Vysya Bank rose 1.12% at Rs 482 after the bank said that its board of directors approved a 5-for-1 stock split proposal. The announcement was made after market hours yesterday, 19 September 2016.

Most auto stocks declined. Hero MotoCorp (down 2.43%), Bajaj Auto (down 1.96%), TVS Motor Company (down 1.23%), Tata Motors (down 1.07%) and Ashok Leyland (down 0.65%), edged lower. Maruti Suzuki (India) (up 0.53%), Eicher Motors (up 1.16%) and Escorts (up 5.31%), edged higher.

Mahindra & Mahindra (M&M) fell 0.45% to Rs 1409.75. The company announced that India Ratings and Research (Ind-Ra) has assigned 'Provisional IND AAA' rating with stable outlook for the company's proposed issue of Rs 475 crore non-convertible debentures. The ratings agency has also assigned 'IND A1+' rating for the company's proposed issue of Rs 700 crore commercial papers. The announcement was made after market hours yesterday, 19 September 2016.

Telecom stocks declined. Bharti Airtel (down 1.59%), Idea Cellular (down 1.06%) and Reliance Communications (down 0.92%) edged lower.

Bharti Infratel rose 1.82%. Bharti Infratel is a telecom tower arm of Bharti Airtel.
Adani Ports and Special Economic Zone (APSEZ) fell 2.16% at Rs 270.15. The company announced that its Australian subsidiary has entered into an agreement to acquire ownership of Abbot Point Bulkcoal Pty (APB), an Australian registered company performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Australia. Under the agreement, Abbot Point Operations Pty (APO) acquires 100% of shares in APB from Glencore Coal Queensland Pty upon receiving certain approvals.

Key indices corrected after a four-day rising streak. The Sensex rose 280.96 points or 0.99% in four trading days to end at 28,634.50 yesterday, 19 September 2016, from its close of 28,353.54 on 12 September 2016. The Sensex has gained 71.03 points or 0.25% in this month so far (till 20 September 2016). The Sensex has risen 2,405.66 points or 9.21% in calendar year 2016 so far (till 20 September 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 6,028.59 points or 26.80%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 554.08 points or 1.91%. The Sensex is off 1,501.54 points or 5% from a record high of 30,024.74 hit on 4 March 2015.

IMPORTANT DETAILS OF INCOME TAX SUMMONS , SURVEY ,SEARCH (आयकर के छापे संबंधी महत्वपूर्ण जानकारी)

आज के परिपेक्छ में ब्यापारियों के घर के सभी सदस्यों के लिए पूर्ण उपयोगी :-
( समय न हो तो भी ध्यान कर पढें )

Income tax Summons, Survey, Search (आयकर के छापे संबंधी महत्वपूर्ण जानकारी)

संकलन:CA.अमृत पोरवाल, मुंबई
amrit@asj.co.in

सावधान!!! अगर आपने पिछले कुछ वर्षो में अपने बैंक खातो में बडीें रोकड रकम जमा करी है, बिना PAN दिये Fixed deposit, Current Account खोले है, Penny stock से Capital Gain कमाया है, Bogus Purchase या खर्चे के बिल, loan Entries, Gift, Donation आदि की हेराफेरी की है तो आप आयकर विभाग की नजर में हैं। आपको इस संबंधी मिले नोटिस का संतुष्टिजनक जवाब नही दिया है तो आप पर कभी भी Enquiry, Survey, Search यानी छापे की कार्यवाही हो सकती हैं।

अगर ऐसा होवे तो निम्न सावधानीयॉं बरते।

जब आयकर अधिकारी आपके यहां आये तो सबसे पहले Notice/ कागजात देखकर यह जान ले कि कौनसी धारा के तहत आयकर अधिकारी आप के यहां आये हैं, नोटिस पर आपका पूरा नाम व पता ठीक से चैक करके ही कार्यवाही आगे बढने दें।

ये नोटिस निम्न प्रकार के हो सकते हैं।

1 Section 131 : Summons to conduct enquiry and to attend & record statement:

✅ इस धारा के तहत अधिकारीयों को न तो आपके घर या दुकान में कुछ भी search करने का अधिकार है न हीं कुछ Seize करना का। केवल आपसे किसी विशेष विषय पर पूछताछ करके आपका बयान (Statement) दर्ज करने हेतु आये हो सकते हैं। बयान अपनी स्वेच्छा से, अपनी भाषा में लिखे न कि अफसरो द्वारा लिखाये जा रहे अनुसार।

✅ सावधान रहे कि आजकल अक्सर अधिकारी केवल धारा 131 का Summons लेकर आते है आपकी कुर्सी पर बैठ कर, आपके फोन, CC TV बंद करा कर आपके यहां Search/ Surveys शूरू कर देते है, जो पूर्णतया गैर काऩुनी है, फिर कुछ आपत्तिजनक पाये जाने पर आपको परेशानी में डाल देते है या Enquiry को survey या सर्च में बदल सकते हैं, अतः पहले से सतर्क रहै एवं आप विनम्रता पूर्वक अनुचित कार्यवाही का विरोध करें एवं उनके उच्चाधिकारी के फोन पर विरोध दर्ज करा सकते है़। नही मानने पर अपने बयान में ये तथ्य जरूर लिखे कि आपके. फोन ले लिये गये या बंद कराये गये या calls उनके द्वारा लिये गये। CC TV बंद कराये गये एवं आपका घर या दुकान बिना वारंट के Search किये गये।

2 Survey u/s 133(1) /133(5)/ 133B

a. to verify books of account, stock & cash at place of business & record statement

b. to obtain details of expenditure incurred at a function/ program etc & record statement

C. Door to door survey to collect information

✅ इन धाराओ में भी आपकी दुकान में या घर में Search नही की जा सकती हैं। केवल account books, stock & cash चेक करके आपका बयान दर्ज किया जा सकता हैं। Books या कागजात अधिग्रहित (impound) किये जा सकते है़। आपको बयान/statement की copy लेने का अधिकार हैं। तुरंत अवश्य मांगे।

✅ ध्यान रहे, अगर व्यवसायिक पता (office address) घर का दिया हुआ है तो वे घर पर भी Survey कर सकते है, पर Search नहीं।

✅Survey में आपकी व्यक्तिगत सर्च नही ली जा सकती। वे आपको आपकी जेब से स्वयं सब सामग्री निकालने को कहते हैं, जो गैर कानूनी हैं। किसी भी ताले या दरवाजे को तोडा नही जा सकता हैं वे आपसे कह कर ताला खुलवाते हैं। केवल Search में ही ऐसे अधिकार हैं।

✅ Summon हो या Survey हो या सर्च, आपका बयान, सोच समझ कर, स्वेच्छा से, स्वस्थ मन से दें, अगर आप थके हुए /अस्वस्थ है या आपको रात भर सोने नही दिया गया है तो तभी बयान नही दें, नही मानने पर सभी सही तथ्य बयान में अवश्य लिखे की आप थके हुए है, सोये नही है, मानसिक तनाव या दबाव में हैं, आपको मारा, पीटा, अपमानित/ प्रताडित किया गया, डराया गया या धमकाया गया हैं, डरे नहीं, बेझिझक सभी सही तथ्य अवश्य लिखे। यह आपका बयान है न कि अधिकारीयो का। बयान की तारीख व समय भी लिखे।

✅ बयान अपनी समझ की भाषा में ही लिखे। दबाव में आकर किसी भी तरह की स्वीकारोक्ति (Surrender, confession or admission) लिखने की बजाय धीरज पूर्वक ये कहे/ लिखे कि मैं कागजात/ records/ हिसाब आगि चैक करके ही सही जवाब दे पाउंगा या कुछ कह पाउंगा। स्वीकार (Surrender) करने के लिये आपके पास आगे अन्य मौके भी रहेंगे।

याद रहे कि आपका स्वीकारोक्ति का बयान ही आप के लिये बेहद नुकसानदायक साबित हो सकता हैं।

✅ आजकल यह भी देखा गया है कि कुछ अफसर action के दौरान या बाद की जांच में, अपनी पसंद के "तथाकथित Expert CA को आपकी मदद के लिये बुलाने को कहते हैं जिसके साथ उनकी सांठगांठ होती हैं। अपने भरोसेमंद CA को ही बुलायें,अन्यथा आपका बडा नुकसान हो सकता है।

✅ जांच के दौरान अधिकारीयो से समुचित सहयोग करे़ं, उलझे नही, अपनी बात नम्रता पूर्वक रखें। धीरज बनाये रखें।

अब Raid (छापे) के बारे में जान लें।

3. Search u/s 132 ( छापा) केवल इसी धारा के तहत आपका घर या दुकान Search की जा सकती हैं। Search Warrant पर लिखा हुआ आपका पूरा नाम व पता ठीक से चैक करके ही कार्यवाही आगे बढने दें।

✅ अधिकारीयो के id card ठीक से check कर के Search Warrant में लिखे Control Room के नंबर पर फोन करके अधिकारीयो की
Authenticity बेझिझक confirm करें। दो सम्माननीय व्यक्तीयों को पंच (witness) के रूप में बुलाना अनिवार्य है। इस तरह आप फर्जी सर्च से बच सकते हैं।

✅ आपको अपने CA को बुलाने का अधिकार है मगर वो किसी भी कार्यवाही में हस्तक्षेप नही कर सकता।
हॉं, Records verification में मदद अवश्य कर सकता हैं।

✅ आयकर छापे का मुख्य उद्देश्य आयकर की चोरी को पकड़ना है आयकर की चोरी को रोकना है आयकर का छापा पड़ने का मुख्य कारण इन में से एक है :--

✅ धारा 131(1) या 142(1) में आए नोटिस का विधिवत रुप से पालन नहीं करना। मतलब जवाब नहीं देना या संतुष्टि पूर्ण रूप से जवाब नहीं देना।

✅आयकर अधिकारी को यह विश्वास हो की आपके पास अघोषित आय, संपत्ति, ज्वेलरी आदि है।

✅ इसलिए जब भी आयकर का छापा पड़ता है एक व्यक्ति को निम्न चीजों का सामना करना पड़ता है!

✅आपके पास जितने भी लूज पेपर पड़े हैं उन पर लिखी हुई रकमो का हिसाब देना।

(इंसान का एक स्वाभाविक स्वभाव होता है जितने भी लूज पेपर पड़े होते हैं वह सोचता है कि यह कभी मेरे काम आएंगे। अक्सर पाया गया है कि वह सिर्फ उसके खुद के तकलीफ देने के अलावा कोई काम नहीं आता। उसके कारण मानसिक तनाव आर्थिक हानि समय का नुकसान के इलावा कुछ भी हाथ नहीं आता। समझदारी इसी में है कि रोज के रोज लुज़ पेपर को देखकर समझ कर फाड़ देना। कई बार इंसान सोचता है कि यह पेपर बिल्कुल सही है मैं इसका जवाब दे सकता हूं लेकिन मित्रों ज्यादा समय बीत जाने के बाद हमको याद नहीं आता कि यह पेपर किस काम का था और उसमें उसका संबंध खाता बही से दिखाना बड़ा मुश्किल हो जाता है)

✅ इसलिए समझदार व्यक्ति अपने CA को भी कह कर रखता है कि जब आप ऑडिट करें तो मेंरे स्टाफ के पास कितने लूज पेपर्स या रजिस्टर या डायरी पड़े हैं उसका भी रिपोर्ट देवे। विशेष तौर पर अकाउंटेंट, चौकीदार, स्टोर कीपर, सेल्स मैन, प्रोजेक्ट डिपार्टमेंट, खरीद विभाग, प्रोडक्शन विभाग आदि में।

(रोज़ की रोज़ पेपर फाड़ना रोज़ की रोज़ अकाउंट्स को लिखना रोज़ की रोज़ हिसाब मिलाना अत्यावश्यक है इसका तो नियम बना ले एवं पालन भी करें)

✅ आपके पास जितनी भी ज्वैलरी पड़ी है उसका समय-समय पर निरीक्षण करके वैल्यूएशन करवाना इसके लिए आयकर विभाग का एक सर्कुलर भी निकला हुआ है जिसके अनुसार घर की प्रत्येक शादीशुदा महिला के लिए 500 ग्राम प्रत्येक अविवाहित महिला के लिए लड़की के 250 ग्राम तथा प्रत्येक पुरुष या बच्चे का 100 ग्राम ज्वैलरी तक कुछ भी नहीं पूछा जाएगा और यह माना जाएगा यह घोषित है!

✅ अगर आपको उससे ज्यादा की ज्वैलरी घोषित सिद्ध करनी है तो सभी प्रकार की ज्वैलरी के बिल, उसके भुगतान की रसीद, उसका भुगतान करने का सबूत उस समय की बैंक स्टेटमेंट या बैंक की पासबुक की कॉपी आपके पास होना बहुत आवश्यक है।

✅ रोज़ की रोज़ अपने बिजनेस वाली फर्मों के अकाउंटस को तो लिखना आवश्यक है ही अपनी व्यक्तिगत खाता बही को भी रोज की रोज लिखाने की आदत डालें इसके लिए अपने अकाउंटेंट को कहे तथा अपनी ऑडिट वाली टीम को भी कहे की इसकी भी रिपोर्ट देवे।

✅अपने कंप्यूटर को भी महीने में कम से कम एक बार चेक करने की आदत डालें। व्यर्थ की फाइलों को हटाए व्यर्थ के हिसाब को भी हटाए समय-समय पर प्रॉपर फॉर्मेट कराएं सही ढंग से फॉर्मेट करने का तरीका सीख ले व्यर्थ की पेन ड्राइव फ्लॉपी आदि ना रखें समय-समय पर इनको भी चेक करना सीख लें!
(अगर कोई कंप्यूटर पुराना हो गया हो और काम नहीं आ रहा तो उसको बेच दे)

✅ अपने मोबाइल फोन को भी महीने में कम से कम एक बार चेक करने की आदत डालें। व्यर्थ की images, SMS, Whatsapp chat, email correspondence, व्यर्थ के हिसाब को भी हटाए । समय-समय पर factory reset करें। आपको अगर छापे की आशंका है तो आज ही फोन को contact back up लेकर factory reset करें। अपने staff के फोन भी।

✅अपने कार्यालय व घर में भी समय-समय पर सारी अलमारीयों को चेक करें व्यर्थ के पेपर, व्यर्थ के पेन ड्राइव आदि वहां से भी हटा दें याद रखें इसकी बहुत बड़ी कीमत चुकानी पड़ती है!

(जिसके ऊपर गुजरती है वही जानता है कि यह कितनी बड़ी और समझदारी की राय है अगर समय पर नहीं समझे तो बहुत बड़ी कीमत दे कर ही इसको समझना पड़ता है)

✅ जब भी आप कोई मूल्यवान संपति खरीदें जैसे कार ज्वेलरी चांदी सोफा जमीन या जायदाद आदि तो उसका बिल वह भुगतान करने का सबूत बैंक पासबुक या स्टेटमेंट एवं जिसको भुगतान किया है उसकी रसीद एक अलग फाइल में डालने की आदत डाल दे! उस फाइल में चाहे 10 साल पुराना भी बिल हो उसी में पड़ा रहने दे जब भी आयकर का छापा पड़ता है तो हर संपत्ति का जवाब देना पड़ता है!

✅ अगर कोई संपति 6 साल पहले से खरीदी हुई है तो उसका कोई हिसाब नहीं देना पड़ता लेकिन यह साबित करना पड़ता है की इसे 6 साल पहले खरीदा गया था इसलिए बिल / कागजात बहुत आवश्यक है कोई कारण से बिल नहीं मिल रहा है तो अन्य सबूत अवश्य पेश करें। विदेश मे स्थित अघोषित संपत्ति के लिये 16 वर्ष की समय सीमा है।

✅ Finance Act 2016 की धारा 197(c) के तहत आपने 6 वर्ष से पहले की भी अघोषित आय या संपत्ति अगर IDS -2016 में declare नही की है तो वह उस वर्ष की आय मानी जायेगी जिस वर्ष में आपको उस संबंधी Assessment का notice दिया जायेगा, यद्धपि यह प्रावधान विवादित हैं।

✅ इसी प्रकार से आपने कोई आयकर चुकाया है तो उसके चालान की प्रति को एक फाइल में डाले. आयकर विभाग आपसे सालो पुरानी डिमांड (Arrears) का नोटिस दे सकता है क्योंकि कोई समय सीमा नहीं है अगर आपके पास इसके भुगतान की चालान नहीं है तो आपको मय ब्याज के उसको भरना पड़ेगा।

✅ अगर आप किसी फर्म में पार्टनर है या डायरेक्टर है और अब आपका उससे संबंध कोई कारण से हट गया है तो आप तुरंत उस से ऑफिशियली अलग हो जाएं। कारण की अगर उसके छापा पड़ेगा तो आप पर भी छापा पड़ेगा। ध्यान रहे ज्यादातर पूरे ग्रुप पर छापा पड़ता है और विभाग इस बात का ध्यान नहीं रखता कि अभी आप उस में एक्टिव नहीं है। इसलिए आप जिस जिस में पार्टनर है या डायरेक्टर है तो आपको यह सुनिश्चित करना चाहिए उस फर्म ने समय पर आयकर का विवरण भर दिया है तथा आयकर चुका दिया है। उस फर्म की आयकर विवरण, बैलेंस सीट, प्रॉफिट एंड लॉस एकाउंट, उस में विद्यमान आपके खाते की कॉपी आदि अपने पास समय समय पर लेकर रखे।

✅ अपने घर पर अनाधिकृत रुप से ब्लू फिल्म, foreign Currency या शराब आदि नहीं रखे।
(जब भी आयकर कर का छापा पड़ता है तो विभाग इस का भी ध्यान रखता है और आप को व्यर्थ कानूनी पचड़े में पड़ना पड़ता है)

✅ अब कुछ बातें आप के अधिकार के संबंधित :--
👇
✅ आप यह सुनिश्चित कर सकते हैं छापा मारने वालों के आई कार्ड को मांगकर देख कर जांच कर की छापा मारने वाले आयकर अधिकारी ही है

✅ शुरू में आप उनकी भी तलाशी ले सकते हैं।

✅ महिलाओं की जांच केवल महिला अधिकारी ही कर सकती है!

✅ अगर आपको बीमारी से संबंधित कोई प्रॉब्लम खड़ी हो गई है तो आप को यह अधिकार है कि आप डॉक्टर को बुलाएं इससे आपको कोई नहीं रोक सकता।

✅ आप देर रात होने पर सो सकते है।

✅ बच्चे समय पर स्कूल जा सकते हैं।

✅ आप आयकर अधिकारी को समुचित व्यवहार करने के लिए टोक सकते हैं। न मानने पर Control Room में उच्चाधिकारी को शिकायत कर सकते है। Control Room का नंबर Search Warrant में मौजूद रहता हैं।

✅ जो भी ज्वैलरी जब्त की जाती है उसकी एक प्रॉपर लिस्ट बनाई जाती है उसको एक या अधिक बॉक्स में सील किया जाता है इस समय आप कृपया ध्यान रखें कि उनको सही ढंग से रखा जा रहा है या नहीं। आपको अधिकार है कि आप कहें कि इनको ठीक ढंग से रखें।

✅ ज्वेलरी का जब मूल्यांकन किया जाता है उस समय अगर वह ज्वैलरी आपकी नहीं है है तो आप स्पष्ट कर सकते हैं और अगर आपको ध्यान रहे जिस आदमी की ज्वेलरी है उसका नाम बता सकते हैं!

✅ जब भी ज्वैलरी की मूल्यांकन होती है उसमें आप सावधानी बरतें उस समय अगर आप के बयान भी लिए जा रहे हैं तो आप उनको निवेदन कर दें कि एक बार मूल्यांकन का काम हो जाए उसके बाद बयान जारी रख सकते हैं!

✅ जो ज्वैलरी जब्त की गई है उसके ऊपर आप भी हस्ताक्षर या अपनी कोई सील लगा सकते हैं!

✅. क्या-क्या जब्त किया जा सकता है :--

✅ अघोषित रोकड़, ज्वेलरी, लॉकर, प्रोमिजरी नोट्स, चेक्स, ड्राफ्ट आदि

✅. बुक्स ऑफ एकाउंट्स,डायरी, लूज पेपर, रजिस्टर

✅ कंप्यूटर हार्ड डिस्क, पेन ड्राइव, CD, फ्लॉपी, moblie phone, data card आदि

✅ संपत्ति से संबंधित कागजात आदि

✅ क्या-क्या नहीं जब्त किया जा सकता
👇
✅ प्रत्येक शादीशुदा महिलाओं पर 500 ग्राम अविवाहित पर 250 ग्राम मेल सदस्य के लिए 100 ग्राम तक की ज्वैलरी

✅ स्थाई संपत्ति जैसे की घर जायदाद या ऑफिस या फैक्ट्री

✅ स्टॉक जो की व्यवसाय के संबंधित है

✅ वह संपत्ति जो घोषित है आयकर विवरण में या बुक्स ऑफ एकाउंट्स में या वेल्थ टैक्स के रिटर्न में!

👉अपना आपा/ नियंत्रण न खोये। धीरज पूर्वक परिस्थति का सामना करें।
अपने CA से शीघ्र संपर्क कर सलाह लें।

*संकलन-संशोधन :CA.अमृत पोरवाल,[truncated by WhatsApp]