MARKET-HUB

The Nifty50 has broken its

consolidation range and breached the

crucial psychological 11,000-mark

on March 6 amid Yes Bank

uncertainty and worries over the

spread of coronavirus.

SBI Cards and Payment Services,

the country's second-largest credit

card issuer on March 6 fixed the

final issue price for its initial public

offering at Rs 755 per share. The

issue closed on March 5.

A day after the Reserve Bank

imposed a moratorium on Yes Bank

and superseded its board, domestic

rating agency Icra on March 6

downgraded the crippled bank's

bonds worth Rs 52,612 crore. The

downgraded bonds are Basel III-

compliant Tier-II instruments and

include Rs 10,900 crore worth

hybrid bonds which has been

lowered to negative.

Antony Waste Handling Cell on

March 6 extended its initial public

offer subscription deadline by five

working days to March 16. The

company said weak market

conditions amid the Yes Bank crisis

had hit investment sentiment and led

to poor subscription numbers for its

offer until March 6, the scheduled

last day of the three-day issue.

Russia will not back an OPEC call

for extra oil output cuts and will

only agree to extending existing

curbs, a Russian source said on

March 6, threatening to derail a call

by OPEC ministers for deeper

reductions to cope with the

coronavirus outbreak.

Tata Motors share price plunged

more than 10 percent intraday on

March 6 after it announced a drop in

China sales due to coronavirus.

The coronavirus significantly

impacted China sales, with February

retail down around 85 percent

against the previous year, the

company said in a release.

Maruti Suzuki India share price shed

over 4 percent intraday on March 6

as the country’s biggest carmaker’s

production declined in February

2020.The company's total production

in February declined 5.4 percent at

1,40,933 vehicles against 1,48,959

units in the year-ago period.

Mahindra and Mahindra (M&M)

share price slipped 6 percent

intraday on March 6 after the

Mumbai-headquartered company

reported poor production and sales

numbers for February 2020.

Nippon Life India Asset

Management Company, in a note to

investors, has said it has marked

down the value of Yes Bank to zero

and restricted the subscription limit

to Rs 2 lakh per investor in the

schemes that have exposure to the

private lenders’ bond.

NEWS LETTER

Beyond Research,

Beyond Advice

07th March 2020

Issue – 389

Market News

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Results & Corporate Action

MARKET-HUB

Nifty Spot in Last Week:-

As we saw the Price Movement in Nifty Spot in last week that In Upside is

11,433.55 and in Downside 10,827.40

Nifty Spot in Upcoming Week:-

There is strong support is 10,500 if not close below this level then we will see buy in

deep upside target 11,200 to 11,400 possibility.

Bank Nifty in Upcoming week:-

There is strong support is 26,300 if not close below this level then we will see buy in

deep upside target 28,300 to 28,500 possibility.

3

Market Technical

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BANKNIFTY WEEKLY CHART

NIFTY WEEKLY CHART

Recommendation for next week

MARKET-HUB

COPPER: - Sell on rise with stop loss 441

down side target will be 413 possibilities,

down side 413 level strong support.

CRUDEOIL: - There is strong resistance

is 3,425 if not close above this level then

we will see sell on rise down side target

2975 possibility.

.

.

SILVER: - Sell on rise with stop loss

48,900 down side target will be 45,000

to 44,000 possibilities.

GOLD: - There is strong support is

43,290 if break this level then down side

target 42,000 possibilities.

Commodity Market

MARKET-HUB

Currency

FUT

LEVEL

DEMAND

ZONE LEVEL

CLOSE SUPPLY ZONE

LEVEL

D2 D1 S1 S2

USDINR 72.65 73.00 73.94 74.45 74.80

GBPINR 94.50 95.50 96.10 96.65 98.00

EURINR 80.48 81.25 83.72 84.50 84.85

JPYINR 68.90 69.45 70.17 71.59 72.30

USDINR: - Investors can sell on rise with

stop loss 74.95 down side target will be

73.90 possibilities.

GBPINR: - Investors can buy on deep

with stop loss 93.20 down side target

will be 96.65 to 98.00 possibilities.

EURINR: - Investors can sell on rise

around 83.00 with stop loss 83.77

down side target will be 81.50

possibility. .

JPYINR: Investors Sell on rise

around 71.50 with stop loss of 72.57

down side target will be 69.45

possibilities.

Currency Market (Future Levels)

MARKET-HUB

Premium / Discount

(USD/ INR) Based on Forward Rates

Duration Premium

One

month Forward

0.30

Three month

Forward

0.50

Six

month

1.30

One year 2.71

RBI reference Rates

Currency Rates

USD 73.28

GBP 94.37

Euro 81.61

100 Yen 68.27

Currency Corner

MARKET-HUB

How to plan your tax-saving investments for the year? Part2

(Based on an article on ET Money website: https://etmoneyblog.com/beyond-section-

80c-10-ways-to-save-taxes/

4) Tax savings on Interest component of Home loan under Section 24:

Homeowners with a home loan can claim tax deduction under Section 24

of the income tax on the interest component of their home loan. The

maximum tax deduction that a taxpayer can get here on interest payment

of home loan taken for a self-occupied property is ₹ 2 lakhs.

In case the property for which the home loan has been taken is not self-

occupied and is rented or deemed to be rented, no maximum limit for tax

deduction has been prescribed, and as a taxpayer, you can take a

deduction on the whole interest amount under Section 24.

But in cases where the borrower (homeowner) isn’t able to occupy the

property due to employment, business or profession carried on at any

other place, forcing them to reside at any other place; the amount of tax

deduction available under Section 24 is limited to ₹ 2 lakhs.

5) Tax savings on interest repayment on Home loan for first -time

owners under Section 80EE: First-time homeowners (you should not own

any other house property on the date of the sanction of a loan from a

financial institution) can claim tax deduction under Section 80EE up to ₹

50,000. This sum is over and above the ₹ 2 lakh limit under Section 24 of

the income tax act towards repayment of home loan interest.

The eligibility to avail this deduction includes the value of the house to be

less than ₹ 50 lakh, and the loan is for ₹ 35 lakh or less. This section was

first introduced in 2013-14 when it was available for only two financial

years. Since 2016-17, this section has been reintroduced, and the tax

benefit applicable till the loan is repaid, with the ₹ 50,000 annual cap.

6) Tax savings on rent paid in cases where HRA isn’t paid under Section

80GG: If you are salaried but do not receive HRA because you work in the

informal sector or because you are self-employed, you can claim

deduction towards rent paid under Section 80GG up to ₹ 60,000 in a

financial year. This deduction is not available to taxpayers who own a

house but live in a rented house in the same city. It cannot be availed by

Page: - 3

MARKET-HUB

taxpayers who own a house in another city and claim tax deduction under

Section 24 towards repayment of home loan interest on that house.

The deduction under this section is allowed on the lowest of the three

conditions, which will be ₹ 60,000:

At least 25% of the total income, excluding any capital gains. This

will be ₹ 1.5 lakh on an annual income of ₹ 6 lakh.

Actual rent minus 10% of income. This would be ₹ 84,000 if you

were paying ₹ 12,000 monthly rent (₹ 1.44 lakh – ₹ 60,000)

Or ₹ 60,000

7) Tax savings on interest earned from savings bank account under

Section 80TTA: All individual taxpayers and HUF can claim a tax deduction

on the interest earned from such savings under Section 80TTA within

limits. This is for all ordinary taxpayers who are not senior citizens.

Section 80TTB is applicable in the case of senior citizen taxpayers. The

interest earned could be from; savings accounts in bank or banking

companies, savings accounts in post offices, or savings accounts in co-

operative societies involved in the banking business.

The maximum deduction limit is ₹ 10,000 under this section, which

includes all the total of all the interest income earned from all the savings

account that one may have. Any interest earned over and above ₹ 10,000

is considered “Income from Other Sources” and, therefore, taxable. So, if

the interest income from three savings bank account adds to ₹ 12,000,

the deduction can be claimed up to ₹ 10,000 with the balance being

added under the head income from other sources.

To provide senior citizens the benefit of lower tax implication on interest

income, Section 80TTB was introduced from April 1, 2018, to benefit

senior citizens who tend to utilized interest from savings banks as well as

deposits as a component of their income in their old age. Under Section

80TTB deduction up to ₹ 50,000 or an amount from a specified income is

allowed from the total gross income.