Epic Research Special Stock Market Report 12 July 2017

Global markets at a glance
US stocks ended little changed on Tuesday in a session marked by knee-jerk reactions to events in Washington that drove investors to first worry then hope about prospects for the Trump administration’s economic agenda.Stocks fell sharply in late-morning trading after emails disclosed by President Donald Trump’s eldest son cited Russian support for his father’s 2016 election campaign.The Dow Jones Industrial Average closed up 0.55 point to 21,409.07, the S&P 500 lost 1.9 points, or 0.08 percent, to 2,425.53 and the Nasdaq Composite added 16.91 points, or 0.27 percent, to 6,193.31.

MACRO NEW
Intelligence Bureau raises red flag over allowing 100% FDI in domestic airlines
Tata Steel divests entire stake in JV company
Tata Steel to sell SAW mills in UK to Liberty House Group
US FDA Issues Warning Letter To Vista Pharma’s Telanana Unit
Adani Power to transfer Mundra Power unit to subsidiary
UCO Bank employees to go on strike on 15th July
Reliance Industries says Jio Prime members to enjoy all unlimited for 3 months with rs 399 plan
Maruti Suzuki takes pole position in utility vehicle market in Q1 Fy18
Tata Global Beverage to divest stake in groups firm to
parent
Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
South Indian Bank shareholders approve raising Rs 500 cr

STOCKS IN NEWS
Godrej Consumer Products drops soap prices up to 8%, expects positive H2
NCLT asks united bank to clarify on Era infra
ICICI bank and Firfax to sell 20% together in IICI Lombard IPO
HMT to close 3 subsidiaries and dispose of their assets

COMMODITY ROUNDUP
Gold dropped four month low, extending recent spell of correction as upbeat global economic expansion continued to hurt the sentiment for the yellow metal. Indian buying remains a major worry for the broad global Gold market and not much of an upside is being seen in the near term.COMEX Gold futures are trading at $1210 per ounce, down 0.24% on the day. MCX Gold futures are trading at Rs 27742 per 10 grams, down 0.20% on the day.

TRADING STRATEGY:
BUY GOLD ABOVE 27820 TARGET 27870 27971 SL BELOW 27751
SELL GOLD BELOW 27700 TARGET 27650 27549 SL ABOVE 27769

CURRENCY MARKET UPDATES
The Indian rupee added gains in early trades against the dollar on Tuesday, 11 July 2017 amid increased supply of the American currency by exporters and fresh foreign capital inflows. Besides, a higher start in domestic equities coupled by weakness in the dollar overseas, supported rupee.The domestic currency opened at Rs 64.46 against the dollar and registered an intra-day high and low of 64.45 and 64.49 respectively so far during the day.

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