Epic Research Special Stock Market Report 13 June 2017

Global markets at a glance
U.S. technology shares fell a second day after spreading to Asia and Europe on concern the group had risen too far too quickly. The pound retreated as an embattled Theresa May fought to survive the fallout from the British general
election. The Nasdaq 100 Index capped its biggest two-day decline since September after closing Thursday with a 21 percent gain for the year.

Previous day Roundup
Trading for the week began on a dull note as the key benchmark indices registered modest losses on negative global cues.

MACRO NEW
Tejas Networks’ IPO opens on June 14
Cosmo Films launches new product – Direct thermal printable paper in both top coated and uncoated varietie
Shreyas Shipping signs JV with Suzue corporation(Engaged in multi modal logistics)
Capital First BM on June 15th, to issue NCD’s Ess Dee Aluminum to suspend operations at Kolkata plant w.e.f July 1st due to financial stress
Jeevan Scientific informed exchanges about the successful completion of first USFDA audit
MEP Infra in talks with Korean, Chinese firms for road project tie ups
Monsanto, bayer cropscinece cut India investments No merit in Infosys whistleblower charges says SEBI
Tata power eyes 80 town for distribution in J&K
HPCL, BPCL, IOC: Private fuel retailers to revise price daily

STOCKS IN NEWS
RIL, Bharti, Idea: Jio accuses bharti, Vodafone and idea of cartelization
Spcejet, Indigo, Jet airways: Airline companies may push up fares to lighten GSt load
Power stocks: Govt. to review status of stressed power assets
Govt allows PFC to issue bonds free of capital gains tax

COMMODITY ROUNDUP
COMEX Gold futures stabilised after the recent correction from seven month highs on ideas that speculative buying remains active. Equities slipped lower at the start of the week and Gold capped its losing spree. A sharp surge in
Crude oil futures also supported the yellow metal. COMEX Gold is quoting at $1270 per ounce, almost unchanged on the day. MCX Gold futures are trading at just under Rs 29000 per 10 grams mark.

TRADING STRATEGY:
BUY GOLD ABOVE 29050 TGT 29250 29450 SL BELOW 28950
SELL GOLD BELOW 28900 TGT 28800 28600 SL ABOVE 29000

CURRENCY MARKET UPDATES
The Indian rupee closed over one week low against the US dollar tracking losses in the global equity and currencies markets. Traders are cautious ahead of the key macro economic data due later on Monday.
The rupee closed at 64.44—a level last seen on 1 June, down 0.29% from its Friday’s close of 64.25. The rupee opened at 64.35 a dollar and touched a high and a low of 64.32 and 64.46, respectively.

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