Epic Research Special Stock Market Report 12 September 2017

Global markets at a glance
The S&P 500 surged over 1 percent to a record high close on Monday as tropical storm Irma caused less damage than expected in Florida, and after North Korea did not test-fire missiles over the weekend, which some had feared. All 11 major S&P 500 sectors rose, led by financial stocks, with insurers advancing as Irma, once ranked as one of the most powerful hurricane recorded in the Atlantic, lost power.Irma caused severe flooding in many Florida cities and left more than 6 million homes and businesses without power, but damage appeared to be less than expected.Tesla jumped 5.91 percent on news that China was studyiing when to ban the production and sale of cars using traditional fuels.

MACRO NEW
The Nifty50 futures on the Singapore Stock Exchange were trading 49 points higher at 10074.50 indicating a positive opening for the domestic market.

India’s retail inflation is expected to have picked up to a 5-month high in August, largely driven by higher food costs, a Reuters poll showed, easing pressure on RBI to cut interest rates again after poor growth data.

Sebi is expected to approve options trading in guar seed. That would make it the second commodity, after gold, in which options contracts can be traded.

STOCKS IN NEWS
ITC in focus – GST cess pulls cigarette sales down 8-9 percent in July-August
JSW Group in talks with China’s Zhejiang Geely for electric vehicles .
Sun Pharma gets US FDA nod for cholesterol drug, Fenofibrate tablet.

COMMODITY ROUNDUP
WTI Crude oil futures stayed supported after a massive tumble in last session as equities managed to edge up some- what receding global geopolitical concerns. Crude tumbled more than 3% on Friday and consolidated around $47.70 per barrel today. MCX Crude oil futures are trading at Rs 3054 per barrel, up 0.30% on the day amid sideways trading so far.Large speculators continued to push their bullish net positions higher in the silver futures markets, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

TRADING STRATEGY:
BUY GOLD OCT ABOVE 30100 TGT 30150 30250 SL BELOW 30050
SELL GOLD OCT BELOW 29930 TGT 29880 29780 SL ABOVE 29980

CURRENCY MARKET UPDATE
The Reserve Bank of India (RBI) purchased USD 2.953 billion of the US currency on net basis in July from the spot market. During the reporting month, it bought USD 4.893 billion and sold USD 1.940 billion in the spot market, according to the latest data from the central bank. The RBI intervenes in the foreign exchange market to contain volatility in the rupee market.The rupee on Monday retreated from its one-month high to end lower by 15 paise to 63.93 a dollar on overwhelming demand for the American currency from corporates and banks.

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like stock tips, binary option trading tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.
Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.
http://www.epicresearch.co/
or
mail us @ info@epicresearch.co

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001

%d bloggers like this: