Epic Research Special Stock Market Report 22 August 2017

Global markets at a glance
The S&P 500 ended up slightly on Monday after two days of declines, though simmering tensions between the United States and North Korea kept investors on edge and a drop in oil prices weighed on energy shares. Investors began to turn their focus to the Jackson Hole meeting of Federal Reserve Chair Janet Yellen and other global central bankers, due to start later this week. Investors are angling for the slightest hint on where monetary policy is headed. Fed Vice Chair William Dudley, who has in the past taken a more dovish approach to policymaking, earlier this month said the fact that financial conditions have recently eased despite Fed rate increases is a reason to keep plans to tighten policy in place.
Previous day Roundup
Market registered losses, extending previous trading session’s slide. The barometer index, the S&P BSE Sensex, fell 265.83 points or 0.84% to settle at 31,258.85.

MACRO NEW
Lupin Receives establishment inspection report (EIR) from US FDA for Aurangabad, April 2017 inspection ,US FDA inspection of Aurangabad Unit carried out in April 2017 is now closed
Jaypee Infratech Jaypee homebuyers won’t have to fill any claim forms by August 24
Biocon board approves transfer of biosimilar business to subsidiary Biologics India
Karnataka State Apellate Authority stayed order of Karnataka Pollution Control Board regarding closure of Ugar Sugar’s operation. Accordingly operations for plant started from August 21, which was earlier shut since August 8
V-Guard acquired 6,72,047 equity shares of GUTS Electro Mech, constituting 49.43 percent of paid up capital vide share purchase agreement

STOCKS IN NEWS
Jaypee Infra’s home buyers may get client tag cover: BS
NTPC/NHPC both companies take investors’ nod to raise funds
Visa Steel halts Kalinganagar operations as supplies halt:

COMMODITY ROUNDUP
Large speculators continued to push their bullish net positions higher in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of gold futures, traded by large speculators and hedge funds,totaled a net position of 187,734 contracts in the data reported through Tuesday August 15th. This was a weekly boost of 38,897 contracts from the previous week which had a total of 148,837 net contracts.

TRADING STRATEGY:
BUY GOLD ABOVE 29300 TGT 29350 29450 SL BELOW 29250
SELL GOLD BELOW 29050 TGT 29000 28900 SL ABOVE 29100

CURRENCY MARKET UPDATE
The Indian rupee regained strength against the dollar in early trades on Monday, 21 August 2017 on selling of greenback by banks and exporters. Domestic equities too opened on a firm note that supported the rupee sentiment. However, the US dollar’s strength against major global currencies capped the rupee’s gain.The domestic currency opened at Rs 64.07 against the dollar and climbed to a high of 64.0475 so far during the day. In the spot currency market, the Indian unit was last seen trading at 64.0550.

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