The Federal Reserve raised interest rates by 0.25% at its policy meeting, as expected. Global stock markets closed mixed in reaction, with the Dow and Nasdaq ending higher but the S&P 500 closing slightly lower. The Fed also increased its forecast for 2018 US GDP growth. In other markets, Asian stocks edged higher after the Fed decision, while commodity prices were mixed with gold falling slightly and oil rising on news of a pipeline shutdown in the North Sea. The document then provides analysis and recommendations for various Indian and global stocks and indices, as well as commodities.

1. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
Global markets at a glance
The S&P 500 ended slightly lower on Wednesday pressured
by the financial sector after the Federal Reserve announced
a widely expected interest rate hike but kept its rate
outlook for coming years even as it projected faster US
economic growth.
The quarter-percentage-point rise in the overnight lending
rate, which marked the third hike this year, came along
with an increase to the Fed's 2018 gross domestic product
growth forecast to 2.5 percent from 2.1 percent.
The Dow and the Nasdaq ended higher but the S&P could
not sustain gains in choppy trading after the Fed
statement.
The S&P was dragged lower by a late-session tumble in
bank stocks, which tend to get a profit boost from higher
interest rates. The financial sector's 1.3 percent drop for
the day suggested, however, that investors may have
expected a more hawkish Fed.
The Dow Jones Industrial Average rose 80.63 points, or
0.33 percent, to end at 24,585.43, the S&P 500 lost 1.26
points, or 0.05 percent, to 2,662.85 and the Nasdaq
Composite added 13.48 points, or 0.2 percent, to 6,875.80.
The consumer staples sector was the strongest of the S&P's
11 sectors with a 0.5 percent gain. The S&P utilities sector
pared gains after hitting a session high to end up 0.3
percent.
Investors were also keeping a sharp eye on progress in the
Republicans' push for a US tax law overhaul that would
involve a corporate tax cut.
Asian stocks edged higher on Thursday after the Federal
Reserve delivered a much-anticipated interest rate hike but
flagged caution about inflation, tempering expectations for
future tightening, which weighed on the dollar and
Treasury yields.
Previous day Roundup
Bears took control of D-Street after a positive start on
Tuesday and pushed the index towards key short-term
moving averages such as 5-days exponential moving
average (DEMA), 20-DEMA, and 50-DEMA. The index
formed a bearish candle after a strong rally was seen in the
previous three trading sessions. The index rose from 10,034
levels to 10,329, which translates into a gain of nearly 300
points.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Consumer Durables [-7.96 ],
CapitalGoods [-171.59pts],PSU[-75.38 pts],FMCG[-
109.96pts],Realty[-39.43pts],Power[-28.67pts],Auto[-
201.92 pts],Healthcare[-89.31pts],IT[107.75pts],Metal[-
103.77 pts],TECK[-36.99pts], Oil& Gas [-84.01 pts].
World Indices
Index Value % Change
DJI 24,585.43 0.33
S&P500 2,671.00 0.07
NASDAQ 6,425.63 0.13
FTSE100 7496.51 -0.05
NIKKEI 22,748.07 -0.04
HANG SENG 29,203.00 -0.06
Top Gainers
Company CMP Change % Chg
Dr Reddys Labs 2,256.35 63.45 2.89
Adani Ports 402.50 10.75 2.74
ONGC 183.30 4.40 2.46
GAIL 491.90 10.70 2.22
Lupin 846.80 7.65 0.91
Top Losers
Company CMP Change % Chg
HPCL 414.95 -17.60 -4.07
Bharti Infratel 355.40 -12.65 -3.44
Tata Power 90.55 -3.00 -3.21
BPCL 498.95 -15.25 -2.97
Idea Cellular 93.35 -2.40 -2.51
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
AEGISCHEM 273.9 -0.35 -0.13
ALANKIT 51.3 2.55 4.97
AUBANK 712.85 9.45 1.33
BALAMINES 650.1 7.9 1.22
BLBLIMITED 7.65 0.75 9.8
BPL 91.3 10.1 11.06
BRFL 214.55 2.45 1.14
Indian Indices
Company CMP Change % Chg
NIFTY 10240.20 -82.10 -0.80
SENSEX 33227.99 -227.80 -0.68
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
BHARATIDIL 6.55 -0.3 -4.58
DNAMEDIA 9.5 -0.45 -4.74
ELECTHERM 159.5 -14.5 -9.09

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Special Report
14 Dec-2017
STOCK RECOMMENDATION [CASH]
KOLTEPATIL [CASH]
This particular counter is trading near to its 52 weeks high
and prepared for downward movement after making a
confirmation bear candle below 9period high low average.
The only support level in the case of KOLTEPATIL was 358
below which it has closed , from the daily chart sell on
low would be good to follow so we recommend to SELL
KOLTEPATIL BELOW 345 TGT 340-335 SL ABOVE 350.
MACRO NEW
 The Nifty50 futures on the Singapore Stock Exchange
were trading 44.5 points higher at 10266 indicating a
positive opening for the domestic market. .
 The Federal Reserve came through on a widely
expected interest rate hike following its two-day policy
meeting this week, while sharply raising its economic
growth forecast for 2018. The move will push the
target range to 1.25 percent to 1.5 percent. The rate is
pegged to a wide variety of debt instruments, such as
credit cards and adjustable-rate mortgages.However,
the burst may be short-lived. Growth is projected to
come back down to 2.1 percent in 2019 and 2 percent
in 2020, though both are above the respective 2
percent and 1.8 percent forecasts three months ago.
 NSE will auction investment limits for overseas
investors for purchase of corporate bonds worth over
Rs 7,300 crore today. The auction will be conducted on
NSE's e-bid platform from 1530 hrs to 1730 hrs after
the close of market hours, the exchange said in a
circular.
 China’s central bank unexpectedly raised borrowing
costs following the Federal Reserve’s decision to
tighten monetary policybasis points.
RECOMMENDATIONS [FUTURE]
1. SUNTV [FUTURE ]
This particular counter is trading just above its support level
884 above its 9 period high low average, In the hourly chart
and daily chart it is continuosly respecting its 9 period high
low average and it has made a clear cut 52 weeks high
breakout after reversing from its support level of 889 , now
the 922.30 is looking first hurdle and trend is positive so buy
on high would be good to follow so we advice to BUY
SUNTV FUTURE ABOVE 923 TGT 930-940 SL 915.
2.AUROPHARMA [FUTURE]
This particular counter is forming three inside down pattern
after getting rejection from the level of 690, on the
downside it has a support level at 656, sell on rise would be
good to follow since it may reverse from its support so we
advice to SELL AUROPHARMA AROUND 678-680 TGT 671-
660 SL ABOVE 690.

3. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
MOST ACTIVE CALL OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY CE 10,300 97.75 2,17,741 38,38,500
NIFTY CE 10,400 59 2,16,321 46,35,825
NIFTY CE 10,500 34.45 1,94,443 63,44,175
RELIANCE CE 940 15.9 3,655 29,42,000
INFY CE 1,020 13.15 3,421 5,60,500
MARUTI CE 9,200 130.5 3,097 79,650
VEDL CE 300 4.55 2,780 29,12,000
INFY CE 1,040 7.65 2,338 5,65,000
MOST ACTIVE PUT OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
BANKNIFTY PE 25,200 216.6 2,10,227 1,46,240
NIFTY PE 10,000 64.3 1,68,528 85,61,400
NIFTY PE 10,100 88.75 1,60,519 47,28,525
MARUTI PE 9,000 91.25 2,978 99,375
INFY PE 1,000 15.55 2,350 2,21,500
MARUTI PE 9,100 130 1,969 45,975
TATASTEEL PE 680 14.3 1,769 5,60,000
RELIANCE PE 900 15.3 1,734 9,53,000
FII DERIVATIVES STATISTICS
BUY OPEN INTEREST AT THE END OF THE DAY
No. of
Contracts
Amount in
Crores
No. of
Contracts
Amount in
Crores
No. of
Contracts
Amount in
Crores
NET AMOUNT
INDEX FUTURES 19858 1722.70 18310 1457.20 213803 17266.60 265.5036
INDEX OPTIONS 484055 42118.89 480726 41851.01 1189812 94214.12 267.8773
STOCK FUTURES 103482 7357.45 98251 6975.56 1043176 72590.44 381.8906
STOCK OPTIONS 79141 5635.15 78741 5595.28 64729 4695.09 39.8705
955.142
SELL
STOCKS IN NEWS
 Syndicate Bank opens QIP with floor price of Rs 88.5/
share
 Century Textiles grants right to Grasim India to
manage, use and control VFY business for a duration
of 15 years for royalty of Rs 600 crore
NIFTY FUTURE
From the daily chart its clear that nifty is continuosly
moving range bound , the upcoming result of the Gujrat
election is creating a trill, as the investors are waiting the
outcome, on the upside 10324 is a crucial resitance and
on the downside its 10094 and 10000, trader should be
maintain strict stoploss for trading today since due to
range bound nature of nifty may triggred shortterm
stoplosses so we recommend to sell on rise Nifty future
around 10300-10280 tgt 10250-10200 sl above 10360.
INDICES R2 R1 PIVOT S1 S2
NIFTY 10346.00 10269.00 10219.00 10142.00 10092.00
BANKNIFTY 25198.00 25099..00 25018..00 24919..00 24838..00

4. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
COMMODITY ROUNDUP
Gold futures for February delivery on the Comex division of
the New York Mercantile Exchange fell 0.06% to $1,246.10 a
troy ounce.
Overnight, gold prices remained under pressure on Monday
despite weakness in the dollar as data showed money
managers slashed their bullish bets on the precious metal to
a 17-week low ahead of a widely expected Federal Reserve
interest rate hike.
Fresh from a three-week losing streak, gold prices struggled
to pare recent losses as investors awaited the final Federal
Reserve meeting of the year which is slated to get underway
on Tuesday, with a policy decision due Wednesday.
As well as the policy decision on interest rates, investors are
expected to parse the Federal Reserve’s update to the
summary of economic projections for clues on future
monetary policy.
According to investing.com’s fed rate monitor tool, 100% of
traders expect the Federal Reserve to hike interest rates on
Wednesday. In anticipation of further monetary policy
tightening, traders have slashed their bullish bets on gold to
a 17-week low.
Large speculative net long position fell 51,100 to 173,300, a
17-week low, the CFTC said on Friday.
Gold is sensitive to moves in U.S. rates, which lift the
opportunity cost of holding non-yielding assets such as
bullion.
In line with gold, silver ready went down by Rs 25 to Rs
37,775 per kg and weekly-based delivery slumped below
the Rs 37,000-mark by falling Rs 215 to Rs 36,900 per kg.
Silver coins too plummeted by Rs 1,000 each to Rs 70,000
for buying and Rs 71,000 for selling of 100 pieces.
Brent crude futures, the international benchmark for oil
prices, passed the $65 mark on Tuesday to hit their highest
level since June 2015 as a shutdown of a North Sea pipeline
raised concerns of a supply shortage.
The UK's Forties oil pipeline, the country's largest at a
capacity of 450,000 barrels per day (bpd), shut down on
Monday after cracks were revealed.
The pipeline carries about 40% of UK North Sea crude oil,
Britain’s largest capacity transporting about 450,000 barrels
a day.
The news sent the London barrel soaring to an intraday high
of $65.70. At 6:07AM ET (11:07GMT), Brent oil was last up
1.38% at $65.57, while futures for the U.S.
benchmarkgained 0.53 % at $58.30.
RECOMMENDATIONS
GOLD
TRADING STRATEGY:
BUY GOLD DEC ABOVE 28270 TGT 28320 28420 SL BELOW
28170
SELL GOLD DEC BELOW 28100 TGT 28050 27950 SL ABOVE
28200
SILVER
TRADING STRATEGY:
BUY SILVER DEC ABOVE 36950 TGT 37000 37300 SL BELOW
36800
SELL SILVER DEC BELOW 36750 TGT 36550 36250 SL ABOVE
36900

5. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
NCDEX INDICES
Index Value % Change
Castor Seed 4455 -0.89
Chana 4009 -2.55
Coriander 5341 0.11
Cotton Seed Oilcake 1670 1.95
Guar Seed 10 MT 3806 0.75
Jeera 21870 0.51
Mustardseed 3997 0.76
Soy Bean 3007 0
Turmeric 7448 0.87
Wheat 1630 0.25
RECOMMENDATIONS
DHANIYA
BUY CORIANDER DEC ABOVE 5640 TGT 5690 5790 SL
BELOW 5590
SELL CORIANDER DEC BELOW 5550 TGT 5500 5400 SL
ABOVE 5600
GUARGUM
BUY GUARGUM5 DEC ABOVE 8450 TGT 8500 8600 SL
BELOW 8400
SELL GUARGUM5 DEC BELOW 8360 TGT 8310 8210 SL
ABOVE 8410
Barley futures exhibited mixed trend on NCDEX. December
contract declined as investors engaged in profit locking,
while January contract bounced on firm demand from
domestic and overseas market.
The contract for December delivery was trading at Rs
1500.00, down by 1.02 % or Rs 15.5 from its previous
closing of Rs 1515.5. The open interest of the contract
stood at 10 lots on NCDEX.
The contract for January delivery was trading at Rs 1497.50,
bounced by 0.64 % or Rs 9.5 from its previous closing of Rs
1488.00. The open interest of the contract stood at 10 lots
on NCDEX.
Coriander futures edged lower on NCDEX as participants cut
down their bets, tracking weak demand in the spot market.
Further, higher supplies from major growing regions also
influenced coriander futures.
The contract for December delivery was trading at Rs
5280.00, down by 1.03% or Rs 55.00 from its previous
closing of Rs 5335.00. The open interest of the contract
stood at 990 lots.
The contract for January delivery was trading at Rs 5345.00,
down by 1.2% or Rs 65.00 from its previous closing of Rs
5410.00. The open interest of the contract stood at 42110
lots on NCDEX.
Cardamom futures edged down on MCX as speculators
locked in profits at prevailing levels amid weaker demand at
physical market. Further, an increase in supply levels from
producing belts against sufficient stock levels fuelled the
downtrend.
The contract for January delivery was trading at Rs 1051.40,
down by 0.35 % or Rs 3.70 from its previous closing of Rs
1055.10. The open interest of the contract stood at 363
lots.

6. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 64.4525 Yen 56.8700
Euro 75.7768 GBP 85.9410
GBP/INR
BUY GBP/INR AROUND 87.00 TGT 87.10-87.20 SL 86.90
SELL GBP/INR ABOVE 86.00 TGT 85.90-85.80 SL 86.10
EUR/INR
BUY EUR/INR ABOVE 76.80 TGT 76.90-77.00 SL 76.70
SELL EUR/INR BELOW 75.80 TGT 75.70-75.60 SL 75.90
The pound pared back gains against the dollar on
Wednesday after the latest UK jobs report showed that
pay growth picked up in the three months to October, but
there was another drop in the number of people in
employment.
GBP/USD was at 1.3346 by 05:22 AM ET (10:22 AM GMT),
from around 1.3361 earlier.
The number of people employed fell by 56,000 during the
three months to October, the most since mid-2015, the
Office for National Statistics reported.
The unemployment rate remained steady at a 42-year low
of 4.3%.
Average earnings, including bonuses, rose by 2.5% in the
three months to October, up from 2.2% last month.
Excluding bonuses, average earnings rose by just 2.3%.
Data on Tuesday showed that UK inflation spiked to 3.1%
in November and the ONS said wages in real terms
dropped by an annual 0.2%.
Sterling remained higher against the euro, with EUR/
GBP down 0.2% to 0.8799 from around 0.8792 earlier.
The U.S. dollar index, which measures the greenback’s
strength against a trade-weighted basket of six major
currencies, edged down 0.06% to 94.00.
The dollar edged lower overnight after Democrat Doug
Jones beat Republican Roy Moore in a bitter U.S. Senate
race in Alabama.

7. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
Date
Commodity/
Currency Pairs
Contract Strategy Entry Level Target
Stop
Loss
Remark
12/12/17 NCDEX DHANIYA DEC. BUY 5450 5500 5600 5400 NOT EXECUTED
12/12/17 NCDEX DHANIYA DEC. SELL 5350 5300 5200 5400 TARGET HIT
12/12/17
NCDEX
GUARGUM
DEC. BUY 8450 8500 8600 8400 NOT EXECUTED
12/12/17
NCDEX
GUARGUM
DEC. SELL 8300 8250 8150 8350 TARGET HIT
12/12/17 MCX GOLD FEB. BUY 28200 28250 28350 28100 NOT EXECUTED
12/12/17 MCX GOLD FEB. SELL 28000 27950 27850 28100 TARGET HIT
12/12/17 MCX SILVER MAR. BUY 37000 37200 37600 36800 NOT EXECUTED
12/12/17 MCX SILVER MAR. SELL 36600 36400 36000 36800 OPEN
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
12/12/17 NIFTY FUTURE BUY 10315-10320 10250-10200 10360 NOT EXECUTED
12/12/17 SUNTV FUTURE BUY 888 880-870 898 NOT EXECUTED
12/12/17 HDIL FUTURE BUY 53.70-53.80 54.70– 55.70 52.70 NOT EXECUTED
12/12/17 SUNTV FUTURE BUY 886 876-860 904 NOT EXECUTED

8. _____________________________________________________________________________________________________________________
Special Report
14 Dec-2017
NEXT WEEK'S U.S. ECONOMIC REPORTS
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Disclaimer
TIME REPORT PERIOD ACTUAL
CONSENSUS
FORECAST
PREVIOUS
MONDAY, DEC. 4
10 am Job openings Oct. 6.1 mln
TUESDAY, DEC. 12
6 am NFIB small-business index Nov. 103.8
8:30 am
2 pm Federal budget Nov. -$137 bln
WEDNESD
AY, DEC.
13
WEDNESDAY, DEC. 13
WEDNESDA
Y, DEC. 13
WEDNESDAY, DEC.
13
WEDNESDAY,
DEC. 13
WEDNES
DAY,
DEC. 13
8:30 am Consumer price index Nov. 0.1%
8:30 am
2 pm FOMC announcement 1-1.25%
2:30 am Janet Yellen press conference
THURSDAY, DEC. 14
8:30 am Weekly jobless claims 12/9
8:30 am Retail sales Nov. 0.2%