US stocks were mixed on Thursday, seesawing between positive and negative territory during the session as strong economic data offset disappointing earnings reports from several companies.

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Special Report
04-May-2018
Global markets at a glance
US stocks were mixed on Thursday, seesawing between
positive and negative territory during the session as strong
economic data offset disappointing earnings reports from
several companies.
A sharp drop after the open had pushed the S&P 500 and
the Dow Jones Industrial Average below their 200-day
moving averages, a key technical indicator of longer-term
momentum, but both indexes pared losses to rise back
above those levels.The Dow Jones Industrial Average rose
37.37 points, or 0.16 percent, to 23,962.35, the S&P 500
lost 3.97 points, or 0.15 percent, to 2,631.7 and the Nasdaq
Composite dropped 3.73 points, or 0.05 percent, to
7,097.16.
Shares of insurer American International Group Inc and
drug distributor Cardinal Health Inc plunged after the
companies reported quarterly results. AIG, down 6.2
percent, and Cardinal Health, down 19.6 percent, were
among the biggest drags on the S&P 500.
Asian shares were steady while the Japanese yen held onto
overnight gains in early trading on Friday as financial
markets turned their attention to the looming US payrolls
data for fresh catalysts.Investors were cautious after a
largely weak performance on Wall Street overnight as
some disappointing earnings reports offset strong
economic data, while bond yields slid after a surprising
slowdown in euro zone inflation.
Previous day Roundup
The Nifty which opened with a gap up failed to hold onto
the momentum and closed just above its crucial support
level of 10,700 making a Bearish Belt Hold kind of pattern
on the daily charts.
A ‘Bearish Belt Hold’ pattern is formed when the opening
price becomes the highest point of the trading day
(intraday high) and the index declines throughout the
trading day making up for the large body. The candle will
either have a small or no upper shadow and small lower
shadow.Formation of a Bearish Belt Hold pattern after a
bullish candle does not augur well for the bulls, but as long
as Nifty holds above 10,680-10,700 levels, the momentum
should continue.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Commodities[-3.55],
Consumption[-48.35pts],PSE[7.65pts],CPSE[2.80
pts],Energy[-62.20pts],FMCG[-331.90pts],Auto[-
56.55pts],Pharma[5.25pts],IT[-280.35pts],Metal
[27.80pts],Realty[ -5.25 pts], Fin Serv sector[ 17.65 pts].
World Indices
Index Value % Change
DJI 23,930.15 0.02
S&P500 2,627.25 -0.16
NASDAQ 6,650.00 -0.22
FTSE100 7,502.21 1.08
NIKKEI 22,458.83 -0.22
HANG SENG 30,208.51 -0.35
Top Gainers
Company CMP Change % Chg
Sun Pharma 536.00 20.80 4.04
Bharti Infratel 324.95 11.15 3.55
NTPC 174.30 3.90 2.29
Tata Steel 585.45 10.95 1.91
Axis Bank 533.40 9.65 1.84
Top Losers
Company CMP Change % Chg
HCL Tech 925.70 -74.80 -7.48
Idea Cellular 63.95 -3.30 -4.91
UPL 707.90 -25.50 -3.48
Eicher Motors 29,878.40 -643.85 -2.11
Kotak Mahindra 1,233.55 -23.30 -1.85
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
21STCENMGM 45.55 -0.9 -1.98
5PAISA 424.85 21.2 4.99
ASIANHOTNR 319.3 3.7 1.16
ASTEC 691.25 45.05 6.52
CYIENT 806.4 17.6 2.18
DCMFINSERV 2.15 0.1 4.65
ECEIND 367.35 73.45 19.99
ARVSMART
Indian Indices
Company CMP Change % Chg
NIFTY 10679.70 -38.30 -0.36
SENSEX 35103.14 -73.28 -0.21
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
ABGSHIP 6.55 0.25 3.82
ABMINTLTD 27.6 -1 -3.62
ADHUNIK 3.45 -0.05 -1.45

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04-May-2018
STOCK RECOMMENDATION [CASH]
KEC [CASH]
The particular script has made a breakout above 417
which was the crucia resistance level ,now it has closed
above it, from this level it may face a resistance around
425 so buy on breakout would be good opportunity to
trade. Here we recommend you to buy KEC around 425-
426 tgt 432-440 sl below 420.
MACRO NEW
 Trends on SGX Nifty indicate a negative opening for
the broader index in India, a fall of 33.5 points or 0.31
percent. Nifty futures were trading around 10,673-
level on the Singaporean Exchange.
 The high quantum of impaired assets will restrict the
credit growth for fiscal 2018-19 to 8 percent, and India
Inc will borrow more from cheaper sources abroad, a
report said on Thursday. External commercial
borrowings (ECBs) will go up to USD 27-32 billions on
the back of relaxed norms announced by the Reserve
Bank of India and the high rate of borrowing
domestically, ratings agency Icra said.Icra's group head
for financial sector Karthik Srinivasan said the state-
run banks' problems will stem from the high
provisioning needed for bad assets and the need to
meet mandated capital requirements.
 Private equity and venture capital firms in India
invested USD 7.9 billion across 180 deals in the
quarter ended 31 March, led by large transactions in
the infrastructure and real estate sectors, according to
EY’s private equity monthly deal tracker.The rise in
investments in the first quarter of 2018 was led by
USD 3.1 billion pumped into infrastructure and real
estate projects. That compares with the USD 305
million invested in the year earlier period.
 Security in ban period for the next day's trade under
the F&O segment includes companies in which the
security has crossed 95 percent of the market-wide
position limit.
RECOMMENDATIONS [FUTURE]
1.BPCL [FUTURE ]
From the daily its clear that the this scirpt is in downtrend
and now has made a breakout after moving in a range or
channel fooling the bulls to enter the market so here we go
for sell on weakness so we advice you to SELL BPCL future
around 382– 383 tgt 376-370 sl above 387
2.RELIANCE [FUTURE]
This particular counter has made a doji at the support level
of 965,, today it may rebound from its specified support
level here buy on rise would be a good strategy to follow so
we advice you to buy RELIANCE FUTURE around 965-968 tgt
975-985 sl below 960.

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Special Report
04-May-2018
MOST ACTIVE CALL OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY CE 11,000 30.15 1,12,157 51,12,450
BANKNIFTY CE 25,700 39 1,02,831 2,23,880
NIFTY CE 10,700 152.45 98,088 23,03,250
MARUTI CE 9,500 39.7 12,549 2,47,200
MARUTI CE 9,200 83 9,546 1,79,775
AXISBANK CE 520 32.2 9,195 16,56,000
AXISBANK CE 540 20.45 8,872 8,80,800
RELIANCE CE 1,000 29.9 8,057 24,68,000
MOST ACTIVE PUT OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
BANKNIFTY PE 25,000 27.85 1,96,016 8,68,840
BANKNIFTY PE 25,200 53 1,47,675 5,83,880
BANKNIFTY PE 25,100 37.85 1,13,857 2,87,320
AXISBANK PE 500 8.3 8,170 29,54,400
AXISBANK PE 480 5.15 6,519 23,74,800
MARUTI PE 8,500 102.6 5,760 73,575
AXISBANK PE 520 12.95 5,654 16,24,800
PCJEWELLER PE 200 46 5,528 9,49,500
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 23753 2133.20 28123 2458.21 155470 13300.41 -325.0088
INDEX OPTIONS 869328 83378.96 872436 83471.77 734024 61455.30 -92.813
STOCK FUTURES 137362 9685.56 147762 10162.43 1130736 80039.55 -476.8699
STOCK OPTIONS 85452 6223.34 86056 6230.17 66081 4774.72 -6.8296
-901.5213
STOCKS IN NEWS
 Tata Motors sells 53,511 units in April 2018 against
28,844 units April 2017
 Eicher Motors total motorcycle April sales up 26.7%
at 76,187 units versus 60,142 units
NIFTY FUTURE
The Nifty which opened with a gap up failed to hold onto
the momentum and closed just above its crucial support
level of 10,700 making a Bearish Belt Hold kind of
pattern on the daily charts.A ‘Bearish Belt Hold’ pattern
is formed when the opening price becomes the highest
point of the trading day (intraday high) and the index
declines throughout the trading day making up for the
large body. The candle will either have a small or no
upper shadow and small lower shadow.Formation of a
Bearish Belt Hold pattern after a bullish candle does not
augur well for the bulls, but as long as Nifty holds above
10,680-10,700 levels, the momentum should continue.
so we advice to SELL NIFTY FUTURE AROUND 10675-
10670 TGT 10620-10550 SL above 10720.
INDICES R2 R1 PIVOT S1 S2
NIFTY 10755.00 10717.00 10682.00 10644.00 10679.00
BANKNIFTY 25623.00 25477.00 25470.00 25324.00 25317.00

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Special Report
04-May-2018
COMMODITY ROUNDUP
MCX Aluminium futures extended their losses yesterday as
the global price action remained tepid. The local futures
crashed under Rs 150 per kg and closed down 3% at Rs
146.35 per kg. The US has indicated it could ease sanctions
against Russian aluminium producer Rusal that have sent
global Aluminium price soaring to seven year top, leading a
crash of nearly 10% near $2200 per tonne in the metal
prices on LME on Monday. The US Treasury said if billionaire
Oleg Deripaska sold his stake in the company, the world's
second-largest aluminium producer by output, it could cut
or lift the sanctions. It also extended the time limit for US
and non-US citizens to wind up business with the company
by almost five months, to October 23. Since the sanctions
against Rusal were introduced on April 6, global Aluminium
prices have risen by as much as a third as the metal makes
6% of the world's supply of the metal. LME Aluminium
stayed under pressure yesterday too and stayed near the
recent lows. At 429.7 million barrels, US crude oil
inventories are in the lower half of the average range for
this time of the year. Total products supplied over the past
four-week period averaged over 20.4 million barrels per
day, up by 4.3% from the same period last year. Over the
past four weeks, motor gasoline product supplied averaged
9.4 million barrels per day, up 1.3% from the same period
last year.
Crude oil futures stayed mixed after testing near one week
low as steady buying emerged on strength in stock markets
thereafter. MCX Crude oil futures closed around Rs 4550
per kg levels. US crude oil inventories increased last week
ending April 20, and the refining sector fell 328,000 barrels
per day from the previous week's average, the US Energy
Information Administration (EIA) said in a report. According
to the Weekly Petroleum Status Report, US commercial
crude oil inventories, excluding those in the Strategic
Petroleum Reserve, of the week ending April 20 increased
by 2.2 million barrels from the previous week. At 429.7
million barrels, US crude oil inventories are in the lower half
of the average range for this time of the year.
COMEX Gold futures slipped to a five week low on strength
in US stocks and sound economic data. DOW jumped above
24000 mark on strong quarterly results from some of the
biggest US companies and Gold stayed slippery, falling
under $1320 levels. MCX Gold futures extended losses too
and closed just above at Rs 31200 per 10 grams mark. The
Indian Rupee edged up a bit back after testing its 14 month
low last week and a further rally in the INR could cap local
Gold in coming days.
RECOMMENDATIONS
GOLD
TRADING STRATEGY:
BUY GOLD MAY FUT AROUND 31120-31140 TGT 31200-31250 SL
BELOW 30980
SELL GOLD MAY FUT AROUND 30825-30820 TGT 30780-30730 SL
ABOVE 30870
SILVER
TRADING STRATEGY:
BUY SILVER MAY FUT ABOVE 39700 TGT 39750-39800 SL BELOW
39650
SELL SILVER MAY FUT AROUND 39200-39180 TGT 39150-39100 SL
ABOVE 39250

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04-May-2018
NCDEX INDICES
Index Value % Change
Barley 1422 1.61
Castor Seed 3986 -0.28
Chana 3565 2.44
Coriander 4697 0.11
Cotton Seed Oilcake 1222 2.99
Guar Seed 10 MT 3811 0.22
Jeera 15815 0.44
Mustardseed 3798 1.09
Soy Bean 3671 0.05
Turmeric 7380 3
RECOMMENDATIONS
GUARGUM5
BUY GUARGUM MAY FUT ABOVE 8490 tgt 8520-8550 SL
BELOW 8460
SELL GUARGUM5 MAY FUT BELOW 8370 tgt 8340/8300 SL
ABOVE 8400
DHANIYA
BUY DHANIYA MAY FUT ABOVE 4740 TGT 4770-4800 SL
BELOW 4710
SELL DHANIYA MAY BELOW 4640 TARGET 4610-4580 SL
ABOVE 4670
The dollar held steady just below its strongest level since
mid-January on Monday, leaving the euro pinned near
three-month lows, as a pullback in US treasury yields kept a
lid on the US currency's recent rally.
Traders are readying for German inflation data and
consumer spending numbers due out of the US later to see
whether the dollar can continue a run of gains that has
encouraged some analysts to predict the currency, which
has weakened for most of the past year, can strengthen
further.
The 10-year US Treasury yield surpassed 3 per cent last
week, encouraging investors to buy the dollar and cut their
euro exposure. Positioning data shows that net long euro
positions by speculators fell last week, albeit it from a multi-
year high, suggesting investors remain bullish on the single
currency.
"With US yields meandering around the 3 per cent market,
in the near term the dollar can definitely rise further," said
Alvin Tan, FX strategist at Societe Generale. "That said, we
think longer term the euro can move higher."
The dollar's index against a basket of six major currencies
rose 0.1 per cent to 91.652, down from Friday's high of
91.986, its strongest level since Jan. 11.
The single currency dropped 0.1 per cent to $1.2114, not
far from its lows last week of $1.2110.
The euro enjoyed a strong rally at the start of this year but
doubts over the speed at which the European Central Bank
will normalise monetary policy and some signs the region's
economic rebound has peaked left the currency stuck in a
trading range before the dollar's recent bounce.
The dollar index had risen more than 1.3 per cent last week
for its biggest weekly gain in over two months.

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Special Report
04-May-2018
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 66.6093 Yen 60.7900
Euro 79.8579 GBP 90.6020
USD/INR
BUY USD/INR AROUND 67.10 TGT 67.30-67.60 SL 66.90
SELL USD/INR BELOW 66.70 TGT 66.50-66.30 SL 66.90
GBP/INR
BUY GBP/INR ABOVE 91.20 TGT 91.40-91.60 SL 91.00
SELL GBP/INR BELOW 90.60 TGT 90.40-90.20 SL 90.80
The US dollar rallied to a four-month high on Monday as
the 10-year Treasury yield’s climb toward the
psychologically important 3 percent level spurred buying of
the greenback, leaving the euro and yen lower. The 10-
year yield hit its highest in over four years at 2.998
percent, driven by worries about the growing supply of
government debt and accelerating inflation as oil and
commodity prices climb. The rupee made a muted start on
Friday morning with a loss of 8 paise at 66.83 against the
dollar.
Overall, sentiment remained subdued due to a gradual
increase in crude oil prices, stirring up more concerns over
a widening trade deficit.
The domestic currency on Thursday recovered mildly and
closed at 66.75. The rupee on wednesday nosedived 52
paise to hit a 14-month low of 66.90 against the US dollar,
the third biggest single-day fall for the domestic currency
this year, amid surging crude prices coupled with
headwinds on the macro-economic front in form of
widening trade deficit. This was the lowest closing for the
rupee since February 22, 2017.
The dollar held steady against a basket of currencies on
Monday, having pulled back from a 3-1/2-month high set
late last week, pressured by a decline in the benchmark US
10-year Treasury yield. The dollar’s index against a basket
of six major currencies stood at 91.519, steady on the day
but down from Friday’s high of 91.986.The US 10-year yield
has since come off that peak and fell 3 basis points on
Friday to 2.957 percent, down from a four-year high of
3.035 percent struck on Wednesday.

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Special Report
04-May-2018
Date
Commodity/
Currency Pairs
Contract Strategy Entry Level Target
Stop
Loss
Remark
03/05/18 NCDEX DHANIYA MAY BUY 4760 4790-4820 4730 NOT EXECUTED
03/05/18 NCDEX DHANIYA MAY SELL 4600 4570-4540 4630 NOT EXECUTED
03/05/18
NCDEX
GUARGUM5
MAY BUY 8490 8520-8550 8460 1st TARGET HIT
03/05/18
NCDEX
GUARGUM5
MAY SELL 8370 8340/8300 8400 TARGET HIT
03/05/18 MCX GOLD MAY BUY 31000-31060 31100-31150 30950 TARGET HIT
03/05/18 MCX GOLD MAY SELL 30825-30820 30780-30730 30870 NOT EXECUTED
03/05/18 MCX SILVER MAY BUY 39100 39150-39200 39050 TARGET HIT
03/05/18 MCX SILVER MAY SELL 38295-39290 39250-39200 38350 NOT EXECUTED
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
03/05/18 NIFTY FUTURE SELL 10675-10670 10620-10550 10720 SL TRIGGERED
03/05/18 BPCL FUTURE SELL 378– 377 374-370 382 OPEN
03/05/18 RELIANCE FUTURE BUY 965-968 975-985 960 OPEN
03/05/18 KEC FUTURE BUY 425-426 432-440 420 NOT EXECUTED

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Special Report
04-May-2018
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Disclaimer
NEXT WEEK'S MAJOR U.S. ECONOMIC REPORTS
IME (ET) REPORT PERIOD ACTUAL FORECAST PREVIOUS
MONDAY, APRIL 30
8:30 am Personal income March 0.4%
8:30 am Consumer spending March 0.2%
8:30 am Core inflation March 0.2%
9:45 am Chicago PMI April 57.4
TUESDAY, MAY 1
9:45 am Markit manufacturing PMI April
10 am ISM manufacturing index April 59.3%
10 am Construction spending March 0.1%
Varies Motor vehicle sales April 17.5 mln
WEDNESDAY, MAY 2
8:15 am ADP employment April 241,000
2 pm FOMC statement
THURSDAY, MAY 3
8.30 am Weekly jobless claims 4/28
8:30 am Trade deficit March -$57.6bln
8:30 am Productivity Q1 0.0%
8:30 am Unit labor costs Q1 2.5%
9:45 am Markit services PMI April
10 am ISM nonmanufacturing index April 58.8%
10 am Factory orders March 1.2%
FRIDAY, MAY 4
8:30 am Nonfarm payrolls April 103,000
8:30 am Unemployment rate April 4.1%
8:30 am Average hourly earnings April 0.3%