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Special Report
27 Jul-2017
Global markets at a glance
US stocks climbed modestly on Wednesday to record clos-
ing highs after the Federal Reserve kept interest rates un-
changed and strong earnings reports from Boeing and
AT&T. The US central bank's statement did not dramatically
sway Wall Street's major indexes, which hit all-time peaks
on a busy day of corporate earnings reports. A slide in fi-
nancial shares held back gains for the S&P 500. As broadly
expected by investors, the Fed maintained its benchmark
lending rate and said it was continuing the slow path of
monetary tightening. It said it expected to start winding
down its massive holdings of bonds "relatively soon" in a
sign of confidence in the U.S. economy.
The European markets posted gains in early trade Wednes-
day, before settling into a sideways pattern. Solid U.K. GDP
data and a number of positive corporate financial reports
helped the markets to log modest gains. Energy stocks also
benefitted from the continued rise in crude oil prices. The
pan-European Stoxx Europe 600 index advanced 0.49 per-
cent. The Euro Stoxx 50 index of euro zone blue-chip stocks
increased 0.51 percent, while the Stoxx Europe 50 index,
which includes some major U.K. companies, added 0.21
percent.
Stocks, bonds and commodities were all on a roll in Asia on
Thursday as bulls scented a softening in the Federal Re-
serve's confidence on inflation that promised to keep US
interest rates low for longer. MSCI's broadest index of Asia-
Pacific shares outside Japan climbed 0.5 percent to heights
not seen since January 2008. It has gained nearly 5 percent
so far this month. South Korea added 0.6 percent and Aus-
tralia 0.2 percent, while Japan's Nikkei was kept flat by a
firmer yen.
Previous day Roundup
Market registered modest gains on positive global cues.
The barometer index, the S&P BSE Sensex, rose 154.19
points or 0.48% to settle at 32,382.46. The Nifty 50 index
rose 56.10 points or 0.56% to settle at 10,020.65. The Nifty
settled above the 10,000 mark. Both the Sensex, and the
Nifty, hit record high in the intraday as well as on the clos-
ing basis.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Consumer Durables [up
58.37pts.], Capital Goods [up 156.48pts], PSU [up 5.61
pts], FMCG [up 57.60pts], Realty [up 13.06pts], Power [up
13.85pts], Auto [up 150.40pts], Healthcare [up 117.84
pts], IT [down 20.68pts], Metals [up
213.57pts], TECK [down 22.11pts], Oil& Gas [up 64.59pts].
World Indices
Index Value % Change
DJI 21585.00 +0.27
S&P500 2473.75 +0.35
NASDAQ 6422.75 +0.16
FTSE100 7452.32 +0.23
NIKKEI 20093.41 +0.22
HANG SENG 27019.52 +0.29
Top Gainers
Company CMP Change % Chg
YESBANK 1,722.00 104.15 6.44
INDUSINDBK 1,580.00 37.50 2.43
TATASTEEL 565.90 12.95 2.34
VEDL 280.50 6.25 2.28
CIPLA 574.60 12.20 2.17
Top Losers
Company CMP Change % Chg
AXISBANK 526.85 -18.10 -3.32
ZEEL 530.10 -8.60 -1.60
AMBUJACEM 264.60 -3.20 -1.19
ASIANPAINT 1,136.55 -13.55 -1.18
ACC 1,710.00 -16.10 -0.93
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
ADANIPORTS 391.65 0.90 0.23
ALICON 611.00 -10.90 -1.75
APOLLOTYRE 266.05 1.50 0.57
ASAL 95.45 0.90 0.95
AXISNIFTY 1,000.65 4.60 0.46
BAJFINANCE 1,691.15 63.65 3.91
BEML 1,657.00 8.05 0.49
Indian Indices
Company CMP Change % Chg
NIFTY 10020.65 +56.10 +0.56
SENSEX 32382.46 +154.19 +0.48
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
BHAGYAPROP 23.25 -0.60 -2.52
CRISIL 1,854.50 -30.50 -1.62
ESSDEE 40.00 0.50 1.27

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Special Report
27 Jul-2017
STOCK RECOMMENDATION [CASH]
GSFC [CASH]
The stock has shown good upside move today's trading
session rose with increased volume participation and
crossed above resistance level of 135.65 and close with
long bullish candle above this level for which the stock is
good to buy above 137 for the target of 140 -145 with SL
below 133.
MACRO NEW
 Results today: ITC, Dr Reddy's Labs, Biocon, Glenmark
Pharma, HCL Technologies, ICICI Bank, Idea Cellular, Ma-
ruti Suzuki, ONGC, Reliance Capital, IDFC Bank, IDFC,
Cholamandalam Investment and Finance, Exide Indus-
tries, Motilal Oswal, Tata Coffee, Tata Elxsi, Tejas Net-
works, Balmer Lawrie & Company, Novartis india, Su-
preme Industries, Aditya Birla Fashion, Automobile Cor-
poration Of Goa, Balaji Amines, Blue Dart Express, CMI,
Crompton Greaves Consumer Electrical, Syngene Inter-
national, Foseco India, IFB Industries, Kirloskar Brothers,
Kirloskar Pneumatic, Nocil, Onmobile Global, Redington
(India), Sagar Cements, TRF, Wabco India
 Capital First raises 140cr by issuing NCD's
 Bhushan Steel is now under insolvency resolution proc-
ess under the provisions of IBC
 Govt to sell upto 25% stake in NEEPCO, MSTC vio IPOs
 FIIs restricted from buying shares in Capital First
 Ashok Leyland to hike prices by 1% across models in Aug
 Tata Teleservices to raise 1300crs via equity/debt
 Siyaram Silk Mills to invest up to Rs 25 crore in Bal-
krishna Paper Mills
 Religare Finvest BM on July 31 to consider buyback pro-
posal of up to Rs 100 crore
RECOMMENDATIONS [FUTURE]
1.HINDZINC [FUTURE ]
Last trading session HINDZINC future made a high of 286.30
it’s strong resistance level and ended near this level with
bullish candlestick in daily chart. And since last session it
rose with rising OI in long side . we expect the lead to good
upside ahead. So we advise you to Buy above 286.50 for the
target of 290-295 with SL of 280.
2.YESBANK [FUTURE]
Last trading session YESBANK future good bounce back at
lower level and close above 1700 with bullish candlestick in
daily chart. It has made strong long position and open inter-
est has increased in long side, We expect the addition of
long positions to eventually go to upside ahead. So we ad-
vise you to Buy above 1725 for the target of 1750-1775 with
SL of 1700.

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Special Report
27 Jul-2017
MOST ACTIVE CALL OPTION
Symbol Op-
tion
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY CE 10,000 44.50 5,76,121 57,98,775
NIFTY CE 10,100 6.15 3,03,124 43,77,150
NIFTY CE 10,050 18.25 2,89,423 27,70,800
YESBANK CE 1,700 33.65 21,130 5,16,950
RELIANCE CE 1,620 9.50 15,567 11,68,500
RELIANCE CE 1,640 3.15 13,374 14,55,500
YESBANK CE 1,720 20.00 12,019 3,85,350
YESBANK CE 1,680 47.95 11,968 1,75,350
MOST ACTIVE PUT OPTION
Symbol Op-
tion
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY PE 9,900 3.15 4,32,208 56,15,925
NIFTY PE 10,000 14.40 4,05,722 45,77,850
NIFTY PE 9,950 5.10 2,52,630 34,80,150
RELIANCE PE 1,600 2.45 11,173 13,38,000
YESBANK PE 1,600 0.25 9,167 3,80,800
RELIANCE PE 1,620 6.80 8,443 10,14,000
YESBANK PE 1,620 0.35 7,848 1,45,250
AXISBANK PE 530 4.50 6,592 12,39,600
FII DERIVATIVES STATISTICS
BUY OPEN INTEREST AT THE END OF THE DAYSELL
No. of
Contracts
Amount in
Crores
No. of
Contracts
Amount in
Crores
No. of
Contracts
Amount in
Crores
NET AMOUNT
INDEX FUTURES 89219 6906.04 98388 7707.03 336950 26438.60 -800.99
INDEX OPTIONS 501374 41250.75 478595 39488.02 1187903 92118.90 1762.74
STOCK FUTURES 307719 22407.70 297549 21710.15 904269 63686.25 697.55
STOCK OPTIONS 104294 7772.69 104086 7781.01 119399 8887.77 -8.32
NET 1650.00
STOCKS IN NEWS
 Power sector's first InvIT IndiGrid to acquire 4 more
projects
 Vedanta to raise up to $1 billion in dollar bonds
 Thyssen Kurup CEO keen on tata steel merger before
sep
 KPIT Tech Says Chrys Capital Sells Its 13.8% Hldg In
Co On Account Of Closure Of Their Fund
 Snapdeal Board Approves Sale Of FreeCharge To Axis
Bank
NIFTY FUTURE
Last trading session NIFTY Future finally close above
10000 with bullish candlestick in daily chart, with help of
metal and banking stocks, also broader markets ended
positive mode, So we can follow buy on decline strategy.
We may see rise for that it will be good to buy Nifty fu-
ture around 9980-9990 for the target of 10050-10100
with SL of 9950
INDICES R2 R1 PIVOT S1 S2
NIFTY 10101.00 10063.00 10003.00 9981.60 9943.30
BANKNIFTY 24860.00 24765.00 24624.00 24529.00 24388.00

4. _____________________________________________________________________________________________________________________
Please refer to disclaimer Epic Research Ltd w w w . e p i c r e s e a r c h . c o
Special Report
27 Jul-2017
COMMODITY ROUNDUP
COMEX Gold slipped after hitting four week highs as record
high US equities triggered some profit selling. The metal
rose above $1260 earlier this week on weak US dollar
though upbeat global economic momentum is likely to keep
the metal under check on rallies. The dollar dropped near a
13-month low against a basket of major currencies as US
political woes dampened hopes for quick passage of
Trump's stimulus and tax reform agendas. However, COMEX
Gold eased last night as US equities edged up. The metal is
quoting at $1252.70 per ounce, down half a percent on the
day. MCX Gold futures tested lows under Rs 28400 levels
before closing around Rs 28480 mark, down marginally on
the day.
COMEX Silver futures slipped for a third session as recent
rally failed to extend. The commodity had hit a three week
high of $16.60 per ounce yesterday but buying has thinned
thereafter. The speculative interest remains poor and the
metal has taken a heavy beating today, following the cor-
rection in Gold. Firmness in base metals has not helped Sil-
ver much today. COMEX Silver is down 1.20% at $16.33 per
ounce right now. MCX Silver futures are currently trading at
Rs 37885 per kg, down 1.06% on the day as highs above Rs
38K gave up and selling intensified.
Pickup in demand resulted in Nickel prices rolling ahead in
last three weeks. The prices have reached a stage where the
metal is at 15 weeks high. Indian Nickel was last seen trad-
ing at Rs 637 per kg, down 0.90% on 26 July 2017. Moving
up from here would mean reaching critical levels of Rs 658
per kg. As per a report from World Bureau of Metal Statis-
tics (WBMS) Nickel market was in deficit during January to
May 2017 with apparent demand exceeding production by
54.3 kt. In the whole of 2016 the calculated deficit was
62000 tonnes. Reported stocks held in the LME at the end
of May 2017 were 12.9 kt higher than at the end of the pre-
vious year. Refined production in January to May 2017 to-
talled 673.2 kt and demand was 727.4 kt
Crude oil futures closed higher in the domestic market on
Tuesday as fresh pledges from Saudi Arabia and Nigeria to
respectively reduce crude exports and limit output raised
hopes of a market rebalance. Saudi Arabia which is the
world’s largest oil exporter agreed to limit its exports at 6.6
million barrels a day while Nigeria also committed to taking
part in production cuts if it reaches a production level of 1.8
million barrels a day.At the MCX crude oil futures for August
2017 contract closed at Rs 3086 per barrel up by 2.97 per
cent .
RECOMMENDATIONS
GOLD
TRADING STRATEGY:
BUY GOLD ABOVE 24450 TGT 28500 28600 SL BELOW
28400
SELL GOLD BELOW 28250 TGT 28200 28100 SL ABOVE
28300
SILVER
TRADING STRATEGY:
BUY SILVER ABOVE 38300 TGT 38500 38800 SL BELOW
38000
SELL SILVER BELOW 37400 TGT 37200 36900 SL ABOVE
37600

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Special Report
27 Jul-2017
NCDEX INDICES
Index Value % Change
BARLEY 1421 -0.59
CASTOR SEEDS 4490 +1.10
CORIANDER 4950 +0.63
COTTON SEED 1531 +0.53
GUAR SEED 3520 +2.50
JEERA 19425 +1.28
MUSTARDSEED 3686 +0.08
SOYA BEAN 3020 -0.13
TURMERIC 7048 +1.79
WHEAT 1675 -0.06
RECOMMENDATIONS
DHANIYA
BUY CORIANDER AUG ABOVE 5000 TGT 5030 5070
5120SL BELOW 4950
SELL CORIANDER AUG BELOW 4930 TGT 4900 4860 4810SL
ABOVE 4980
GUARGUM
BUY GUARGUM5 AUG ABOVE 7340 TGT 7110 7150 7200
SL BELOW 7030
SELL GUARGUM5 AUG BELOW 7120 TGT 6980 6940 6890SL
ABOVE 7060
NCDEX Guargum futures soared in last couple of hours, hit-
ting near three week highs amid excellent buying as a surge
above Rs 7000 per tonne mark helped lift the sentiments.
Fresh buying seems to be picking up in the futures after the
prices dropped heavily earlier this month. The benchmark
NCDEX Guargum futures dropped from highs above Rs 8000
to lows under Rs 6900 per tonne in first two weeks of July.
The counter ended at Rs 7278 per tone, up 3.34% on the
day. Guarseed futures also added 2.5% to end at Rs 3520
per quintal. In other commodities, Jeera added 1.30% while
Turmeric soared 1.80%. Sugar slipped heavily on profit sell-
ing as weak global cues hurt the sentiments.
Cardamom futures were trading higher during the morning
trade in the domestic market on Wednesday as investors
and speculators extended their positions in the agri-
commodity amid rise in physical demand for cardamom in
the domestic spot market. Further insufficient supplies on
higher physical arrivals from the major cardamom produc-
ing regions supported the upward trend in the domestic
cardamom prices. At the MCX cardamom futures for August
2017 contract was trading at Rs 1130 per kg up by 0.65 per
cent after opening at Rs 1113 against a previous close of Rs
1122.70. It touched the intra-day high of Rs 1130.90
Mentha oil futures were trading lower during the morning
trade in the domestic market on Wednesday as investors
and speculators cut down their positions in the agri-
commodity amid muted physical demand for mentha oil
from major consuming industries in the domestic spot mar-
ket. Further exiting of bets by traders in the spot market
was due to a fall in physical demand for mentha oil from
consuming industries at the domestic spot market against
sufficient stocks position on higher supplies from producing
regions.

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Special Report
27 Jul-2017
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 64.420 Yen 57.560
Euro 74.921 GBP 83.830
USD/INR
BUY USD/INR ABOVE 64.45 TGT 64.60 64.80 SL 64.25
SELL USD/INR BELOW 64.30 TGT 64.15 63.95 SL 64.50
EUR/INR
BUY EUR/INR ABOVE 75.10 TGT 75.25 75.45 SL 74.90
SELL EUR/INR BELOW 74.90 TGT 74.75 74.55 SL 75.10
CURRENCY MARKET UPDATES
The Indian rupee commenced slightly lower against the
dollar in early trades on Wednesday, July 26, 2017 due to
increased demand for the American currency from import-
ers. Dollar strengthening against other currencies overseas
as investors awaited a statement from the US central bank
also weighed on the rupee sentiment. However, domestic
stock markets opening higher limited the some of the
losses.
The domestic currency opened at Rs 64.42 against the dol-
lar and registered an intraday high and low of 64.3975 and
64.4475 respectively so far during the day. In the spot cur-
rency market, the Indian unit was last seen trading at
64.4325. The rupee had ended lower by 4 paise at 64.38
per dollar yesterday at the Interbank Foreign Exchange
market. Domestic benchmark indices edged higher in early
trade tracking positive global cues. At 9:17 IST, the ba-
rometer index, the S&P BSE Sensex rose 43.65 points or
0.14% at 32,271.92. The Nifty 50 advanced 13.15 points or
0.13% at 9,977.70.
Overseas, Asian stocks edged higher tracking positive ses-
sion from Wall Street overnight. US equities closed higher
yesterday, 25 July 2017, after a slew of major companies
reported better-than-expected quarterly results. Wall
Street had also set its sights on the Federal Reserve, as the
central bank kicked off a two-day monetary policy meeting
yesterday, 25 July 2017. The Federal Reserve will announce
its interest rate decision later today, 26 July 2017. The Fed-
eral Reserve had raised the target range for its federal
funds rate by 25 basis points to 1% to 1.25% during its June
2017 meeting.
Meanwhile, the dollar bobbed above a 13-month low
against a basket of major currencies on Wednesday, as in-
vestors awaited the U.S. Federal Reserve's policy state-
ment for clues on the timing of its next monetary tighten-
ing. The dollar index, which measures the greenback's
value against a basket of six major currencies, stood at
94.082. On Tuesday, it had fallen to as low as 93.638, the
lowest for the dollar index since June 2016.

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Special Report
27 Jul-2017
Date
Commodity/ Cur-
rency Pairs
Contract Strategy Entry Level Target
Stop
Loss
Remark
26/07/17 NCDEX DHANIYA AUG. BUY 4950 4980-5020 4900 TARGET HIT
26/07/17 NCDEX DHANIYA AUG. SELL 4860 4830-4790 4910 NOT EXECUTED
26/07/17 NCDEX GUARGUM AUG. BUY 7080 7110-7150 7030 TARGET HIT
26/07/17 NCDEX GUARGUM AUG. SELL 7010 6980-6940 7060 NOT EXECUTED
26/07/17 MCX GOLD AUG. BUY 28550 28600-28700 28500 NOT EXECUTED
26/07/17 MCX GOLD AUG. SELL 28350 28300-28200 28400 TARGET HIT
26/07/17 MCX SILVER SEP. BUY 38500 38700-38900 38100 NOT EXECUTED
26/07/17 MCX SILVER SEP. SELL 38000 37800-37500 38300 TARGET HIT
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
26/07/17 NIFTY FUTURE BUY 9950-60 10000-10050 9900 TARGET HIT
26/07/17 APOLLOTYRE FUTURE BUY 266 270-275 260 TARGET HIT
26/07/17 VEDL FUTURE BUY 278 282-288 272 TARGET HIT
26/07/17 CUB CASH BUY 163 170 155 OPEN

8. _____________________________________________________________________________________________________________________
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Special Report
27 Jul-2017
NEXT WEEK'S U.S. ECONOMIC REPORTS
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Disclaimer
TIME REPORT PERIOD ACTUAL
CONSENSUS
FORECAST
PREVIOUS
MONDAY, JULY 24
9:45 am Market manufacturing PMI (flash) July 53.2 -- 52.0
9:45 am Markit services PMI (flash) July 54.2 -- 54.2
10 am Existing home sales June 5.52 mln 5.57 mln 5.62 mln
TUESDAY, JULY 25
9 am Case-Shiller US home price index May -- 5.5%
10 am Consumer confidence index July 116.9 118.9
WEDNESDAY, JULY 26
10 am New home sales June 615,000 610,000
2 pm FOMC announcement 1-1.25% 1-1.25%
THURSDAY, JULY 27
8:30 am Weekly jobless claims 7/22 243,000 233,000
8:30 am Core capex orders June -- -0.2%
8:30 am Chicago Fed national activity index June -0.26
10 am Housing vacancies Q2 -- --
FRIDAY, JULY 28
8:30 am Gross domestic product Q2 2.7% 1.4%
8:30 am Employment cost index Q2 0.6% 0.8%
10 am UMich consumer sentiment July 93.2 93.1