Epic Research Special Stock Market Report 07 June 2017

Global markets at a glance
US equities closed lower on Tuesday as Wall Street hedged bets ahead of key events slated for later this week. The Dow Jones industrial average fell about 45 points, with Boeing contributing the most losses. The S&P 500 closed
0.28 percent lower, with consumer discretionary leading decliners.
The European markets ended Tuesday’s session in the red,extending the weakness of the previous day.

Previous day Roundup
Equity benchmarks failed to hold its record high levels on Tuesday as investors preferred to book profits ahead of the outcome of monetary policy committee meeting due Wednesday.

IMD raises monsoon forecast to 98%, expects rain in major states by June-end
Aviation Minister in process of preparing Cabinet note to privatise Air India
Adani Enterprises stake in Adani Green Energy diluted to below 50 percent
Oil India makes hydrocarbon discovery in Baghjan, Assam
ONGC may buy out entire government’s stake in HPCL
Bhushan Steel in focus: Serious Fraud Investigation Office begins probe into 2 Bhushan group companies
Government may look at merger of infra lenders IIFCL and IFCI
GE Shipping says no significant capex in FY18: BS
Vivimed Labs gets zero US FDA observations for API facility at Sant Celoni, Spain

Sical Logistics receives letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs
289 crore for 3 years
Meera Industries’ wholly owned subsidiary company in the name and style of Meera Industries USA LLC, formed in North Carolina State of USA
Rattan India Infra says open offer for acquisition of up to 35 crore shares by a number of buyers
Rattan India Power says 32 crore warrants held in company by Yantra Energetics Private Limited stand lapsed

COMEX Gold extended a terrific run towards $1300 per ounce as traders focused on the developments in Indian markets post the GST rate announcements. Global investors have been buoyant on the metal after the weak non farm payrolls data for May. There is widespread thinking that
while Federal Reserve would press for a rate hike in June,chances of any further hikes this year are slim if the underlying trend in jobs data continues to show similar picture in coming months.

Trading Recommendations
BUY GOLD ABOVE 29590 TGT 29690 29900 SL BELOW 29350
SELL GOLD BELOW 29280 TGT 29180 28980 SL ABOVE 29380

The Indian rupee strengthened further against the dollar in early trades on Tuesday, 06 June 2017 on sustained selling of the American currency by banks and exporters. Besides, a higher opening of the domestic equity market backed the rupee.
BUY USD/INR ABOVE 64.40 TGT 64.60 64.80 SL 64.20
SELL USD/INR BELOW 64.20 TGT 64.00 63.80 SL 64.40

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