US stocks ended with small gains on Wednesday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster interest rate hikes.

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Special Report
24-May-2018
Global markets at a glance
US stocks ended with small gains on Wednesday after
minutes from the Federal Reserve's latest meeting
suggested higher inflation may not result in faster interest
rate hikes.
Most Fed policymakers thought it likely another rate
increase would be warranted "soon" if the U.S. economic
outlook remains intact, and many participants saw little
evidence of general overheating of the labour market,
minutes of the central bank's last policy meeting
showed.The central bank has lifted borrowing costs once
so far this year, in March, and policymakers are currently
about evenly split between those who expect two more
rate rises this year and those who anticipate three.
Investors overwhelmingly expect a rate rise at the next
meeting on June 12-13.
Asian shares moved lower on Thursday as investors fretted
about new setbacks in U.S.-China trade talks, but negative
sentiment was tempered by U.S. Federal Reserve meeting
minutes suggesting it would not raise the tempo at which it
increases interest rates.
MSCI's broadest index of Asia-Pacific shares outside Japan
was flat, while Japan's Nikkei stock index was 0.6 percent
lower.A day after U.S. President Donald Trump said he was
not pleased with trade talks between the United States and
China, he called for "a different structure" in any trade
deal. The move added to uncertainty over the negotiations
and prompted a fall in stock markets.
Previous day Roundup
The Nifty50 not only broke below its crucial support placed
at 10,500 level on Wednesday but also its 50-days moving
average at 10,460 which resulted in a strong bearish candle
on the daily charts.
As long as Nifty50 trades below 10,500 levels, bears will
remain in control and the selling pressure could take the
index towards 10,350 levels on the downside. The next
crucial support is placed at 200-DMA around 10,240.The
Nifty50 remained under pressure from the word go. It
opened at 10,521 and rose marginally to hit an intraday
high of 10,533. It hit an intraday low of 10,417 before
closing the day 106 points lower at 10,430.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Commodities[-95.40],
Consumption[-20.85pts],PSE[-86.60pts],CPSE[-62.55
pts],Energy[-284.00pts],FMCG[-177.95pts],Auto[-
52.85pts],Pharma[-49.20pts],IT[-20.20pts],Metal[-
134.55pts],Realty[-2.55 pts], Fin Serv sector[-67.85 pts].
World Indices
Index Value % Change
DJI 24,834.40 -0.70
S&P500 2,719.00 -0.26
NASDAQ 6,873.75 -0.52
FTSE100 7,778.79 -0.12
NIKKEI 22,691.89 -1.18
HANG SENG 30,918.59 -1.00
Top Gainers
Company CMP Change % Chg
SBI 263.20 9.30 3.66
Tech Mahindra 697.45 11.05 1.61
Cipla 532.40 8.40 1.60
NTPC 166.55 1.40 0.85
Grasim 1,047.35 7.85 0.76
Top Losers
Company CMP Change % Chg
HPCL 287.00 -24.85 -7.97
Vedanta 252.65 -17.30 -6.41
Tata Steel 540.05 -36.75 -6.37
BPCL 373.95 -23.65 -5.95
ONGC 175.40 -9.80 -5.29
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
AXISGOLD 2725.85 123.15 4.52
BERGEPAINT 293.45 -13.05 -4.45
BRITANNIA 5604.4 95.65 1.71
DCMFINSERV 2.95 0.05 1.69
KEI 457.8 16.2 3.54
LIQUIDETF 1000.01 0 0
MMFL 1100.15 70.4 6.4
ARVSMART
Indian Indices
Company CMP Change % Chg
NIFTY 10430.40 -106.30 -1.01
SENSEX 34344.91 -306.33 -0.88
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
ABB 1208.65 -19.65 -1.63
ABCAPITAL 144.9 -4.1 -2.83
ACC 1325.3 -11.55 -0.87

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Special Report
24-May-2018
STOCK RECOMMENDATION [CASH]
TFCIL [CASH]
Ater touching its 9period high low average line this script
is moving towardds its crucial support level of 151, if its
breaks this level 149 can be the next level here sell on
weakness would be good opportunity to follow so we we
advice to SELL TFCIL BELOW 151 TGT 149-146 SL ABOVE
152.50
MACRO NEW
 Trends on SGX Nifty indicate a positive opening for the
broader index in India, a gain of 26.5 points, or 0.25
percent. Nifty futures were trading around 10,447.50
on the Singaporean Exchange.
 The summary released on Wednesday indicates a
substantial level of debate over how the Fed should
approach inflation. The minutes also pointed to an
interest rate hike at the June meeting amid debate
over how close the Fed might be getting to the end of
this rate-hiking cycle.The general sentiment was that
inflation would continue to rise toward the 2 percent
target. However, there was disagreement over how
confident the Fed should be after years of
undershooting, and what that would mean to policy.
 The dollar lost momentum on Thursday after the
minutes of the Federal Reserve’s last policy meeting
were seen as dovish and US President Donald Trump
proposed looking into imposing new tariffs on
imported cars.
 The euro was hampered by concerns over economic
slowdown in the currency bloc and political risks in
Italy, staying near a six-month low against the dollar
and a nine-month low versus the yen.
 Oil benchmarks fell on Wednesday after an
unexpected build in US crude and gasoline inventories
despite strong demand, and as traders weighed a
possible increase in OPEC crude output to cover any
shortfalls in supply from Iran and Venezuela. Brent
crude futures slipped 23 cents to settle at USD 79.80 a
barrel, while US crude lost 36 cents to USD 71.84 a
barrel.
RECOMMENDATIONS [FUTURE]
1.ASHOKLEY [FUTURE ]
The particular script has rebounded from its support level of
133 and closed with a good volume since it has clsoed above
its previous day 50% candle so we can remark a good bullish
sign here we advice you to BUY ASHOKLEY AROUND 146-147
TGT 150-153 SL BELOW 144.
2.IDEA [FUTURE]
After consolidating at its lower level a bullish breakout
candle is found at this level here we can get buying
opportunity on reversal so we advice to BUY IDEA FUTURE
TGT 56.20 TGT 57.20-59.20 SL BELOW 54.50

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Special Report
24-May-2018
MOST ACTIVE CALL OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY CE 10,600 12.3 3,53,487 40,04,100
NIFTY CE 10,500 33.4 3,04,672 34,61,625
NIFTY CE 10,700 5 2,44,314 39,68,550
SBIN CE 270 2.85 13,612 53,46,000
SBIN CE 280 0.95 12,271 47,61,000
TATASTEEL CE 580 2.75 8,376 20,64,706
SBIN CE 260 7.1 8,137 48,45,000
TATASTEEL CE 560 6.25 7,592 14,82,217
MOST ACTIVE PUT OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
BANKNIFTY PE 25,700 119.8 4,06,174 2,84,040
BANKNIFTY PE 25,500 29.3 3,76,204 6,16,600
BANKNIFTY PE 25,600 67 3,37,344 3,72,800
SBIN PE 260 4.2 12,938 53,43,000
SBIN PE 250 1.95 11,053 69,51,000
SBIN PE 240 1.15 10,507 89,97,000
TATASTEEL PE 540 11.35 7,266 6,30,234
TATASTEEL PE 560 22.85 5,180 5,54,903
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 26193 2181.34 47652 3921.34 273441 22383.16 -1739.9954
INDEX OPTIONS 1064034 97626.28 1065555 97787.23 913055 73702.70 -160.947
STOCK FUTURES 179748 11379.95 180312 11220.98 1267053 84191.18 158.9607
STOCK OPTIONS 148425 10004.41 148765 10006.21 151999 10357.74 -1.7957
-1743.7774
STOCKS IN NEWS
 Motilal Oswal Q4: Net Profit rose 64% at Rs 147.6
crore and Revenue was up 42.8% at Rs 752.1 crore
 DLF Q4: Net profit was up 70.5% at Rs 243.3 crore
and Revenue was down 38% at Rs 1,377.7 crore
NIFTY FUTURE
The Nifty50 not only broke below its crucial support
placed at 10,500 level on Wednesday but also its 50-days
moving average at 10,460 which resulted in a strong
bearish candle on the daily charts. As long as Nifty50
trades below 10,500 levels, bears will remain in control
and the selling pressure could take the index towards
10,350 levels on the downside. .so we advice to SELL
NIFTY FUTURE AROUND 10470-10480 TGT 10420-10350
SL ABOVE 10520.
INDICES R2 R1 PIVOT S1 S2
NIFTY 10576.00 10503.00 10460.00 10387.00 10344.00
BANKNIFTY 26017.00 25850.00 25736.00 25569.00 25455.00

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Special Report
24-May-2018
COMMODITY ROUNDUP
Sentiments remained weak for COMEX Gold after the break
under $1300 per ounce. The metal slipped near $1285 per
ounce today, marking another fresh five month low amid
continued firmness in US dollar. Large metals speculators
slightly increased their bullish net positions in the Gold
futures markets last week after two down weeks, according
to the latest Commitment of Traders (COT) data released by
the Commodity Futures Trading Commission (CFTC). The
non-commercial futures contracts of Gold futures, traded
by large speculators and hedge funds, totaled a net position
of 107,440 contracts in the data reported through Tuesday
May 8th. This was a weekly rise of 661 contracts from the
previous week. Speculative positions had dropped sharply in
the previous two weeks before this small increase. It is very
much likely that the recent week would have seen
resumption is selling by speculators and unless the prices
are back above $1300 levels, the fund buying is expected to
be lax. COMEX Gold is currently trading at $1286 per ounce,
down 0.26% on the day. MCX Gold futures also extended
losses and quote at Rs 30985 per 10 grams, almost
unchanged on the day.
Crude oil futures were flat Friday, clinging to this week's
significant gains amid U.S. rig count data. The total oil rig
count held at 844 in the week to May 18, according to Baker
Hughes. That's after U.S drillers added many rigs in the past
few weeks in hopes of capitalizing on surging oil prices. WTI
light sweet crude oil was at $71.28/bbl, down 21 cents, or
0.3%. Still, oil posted a wekly gain of nearly 1 percent,
touching a fresh 4-year peak along the way.
Prices rose amid amid speculation OPEC supplies are
dwindling.OPEC officials told Reuters that this month's spike
in oil prices is due to temporary geopolitical tensions and
not a fundamental re-balance in oil markets. Therefore, the
carter is expected to continue its supply quota plan with
Russia. The EIA reported that U.S. crude oil refinery inputs
averaged over 16.6 million barrels per day during the week
ending May 11, 2018, 149,000 barrels per day more than
the previous week's average. Refineries operated at 91.1%
of their operable capacity last week. his is up week over
week but still down year over year. Gasoline production
increased last week, averaging about 10.5 million barrels
per day. Distillate fuel production increased last week,
averaging over 5.0 million barrels per day. Despite rising
imports stocks moved lower. The EIA revealed that U.S.
commercial crude oil inventories decreased by 1.4 million
barrels from the previous week.
Total commercial petroleum inventories decreased by 0.7
million barrels last week.Demand remain strong.
RECOMMENDATIONS
GOLD
TRADING STRATEGY:
BUY GOLD JUN FUT ABOVE 31225 TGT 31275-31320 SL BELOW
31080
SELL GOLD JUN FUT BELOW 31160 TGT 31100-31050 SL ABOVE
31200
SILVER
TRADING STRATEGY:
BUY SILVER JUL FUT ABOVE 40375 TGT 40425-40500 SL BELOW
40300
SELL SILVER JUL FUT BELOW 40180 TGT 40000-39900 SL ABOVE
39910

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Special Report
24-May-2018
NCDEX INDICES
Index Value % Change
Barley 1476 0.27
Castor Seed 4050 -0.42
Chana 3625 -0.03
Coriander 4596 -0.54
Cotton Seed Oilcake 1257.5 -0.83
Guar Seed 10 MT 3820 -0.21
Jeera 15900 0.79
Mustardseed 4011 0.25
Soy Bean 3772 -0.45
Turmeric 7248 -0.4
RECOMMENDATIONS
GUARGUM5
BUY GUARGUM JUN FUT ABOVE 8270 tgt 8300-8340 SL
BELOW 8300
SELL GUARGUM5 JUN FUT BELOW 8140 tgt 8080 8030 SL
ABOVE 8180
DHANIYA
BUY DHANIYA JUN FUT ABOVE 4665 TGT 4685-4700 SL
BELOW 4645
SELL DHANIYA JUN BELOW 4580 TARGET 4560-4540 SL
ABOVE 4600
Demand moderated in Turmeric after recent gains in prices.
The total daily arrivals of 8000-9000 bags have been
reported in Nizamabad mandi, while 6000-5000 bags in
Erode mandi. The spot prices of turmeric decreased by Rs
70 per quintal, with the price range of Rs 6600-6700 per
quintal.
Meal export demand has supported buying in mustard seed
market. However, the total production in the current year is
anticipated at 72 lakh tonnes against 68 lakh tonnes
previously. Traders stated that spot prices increased by
more than Rs 20 per quintal today in Jaipur, while arrivals
were reported in the range of 4.50-5 lakh bags.
Crude oil futures were flat Friday, clinging to this week's
significant gains amid U.S. rig count data. The total oil rig
count held at 844 in the week to May 18, according to
Baker Hughes. That's after U.S drillers added many rigs in
the past few weeks in hopes of capitalizing on surging oil
prices. WTI light sweet crude oil was at $71.28/bbl, down
21 cents, or 0.3%. Still, oil posted a wekly gain of nearly 1
percent, touching a fresh 4-year peak along the way.
Prices rose amid amid speculation OPEC supplies are
dwindling.OPEC officials told Reuters that this month's spike
in oil prices is due to temporary geopolitical tensions and
not a fundamental re-balance in oil markets. Therefore, the
carter is expected to continue its supply quota plan with
Russia. The EIA reported that U.S. crude oil refinery inputs
averaged over 16.6 million barrels per day during the week
ending May 11, 2018, 149,000 barrels per day more than
the previous week's average. Refineries operated at 91.1%
of their operable capacity last week. This is up week over
week but still down year over year. Gasoline production
increased last week, averaging about 10.5 million barrels
per day.

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Special Report
24-May-2018
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 68.2139 Yen 61.7400
Euro 80.2400 GBP 91.4271
USD/INR
BUY USD/INR AROUND 68.50 TGT 68.70-68.90 SL 68.30
SELL USD/INR BELOW 68.30 TGT 68.10-67.90 SL 68.50
GBP/INR
BUY GBP/INR ABOVE 91.50 TGT 91.70-91.90 SL 91.30
SELL GBP/INR BELOW 91.20 TGT 91.00-90.80 SL 91.40
The rupee lost nearly half a percent to the dollar in a
choreographed southward journey as fear of higher oil
prices and rising US treasury yields continue to haunt
overseas investors and domestic importers.
The rupee closed at 68.01 Friday versus 67.70 a day earlier.
During the day, it dipped as much as 68.08 – the near 16-
month low level.
The bond market whipsawed showing early gains during
the day. The benchmark yield dipped as much as 12 basis
points amid speculation of new government measures.
Bond yields and prices move in opposite directions.
The USDCAD moved higher towards the end of the week
after having spent much of the past week chopping around
the 1.28 region. The region around 1.28 had seen a lot of
activity over the past week as the bulls and the bears in the
pair fought it out in that region for control of the pair. It
was a strong region of support and this was clear by the
consolidation and the ranging that we saw in that region.
The dollar rose to a five-month high against a basket of
major currencies on Friday, helped by weakness in the
euro as investors fretted about political uncertainty in
Italy.
The dollar index has climbed for five straight sessions,
posting a 1.2 percent weekly gain. It has risen 5 percent
since mid-February, with investors betting U.S. interest
rates will need to rise further to curb inflation.The euro on
Friday tracked its fifth successive weekly decline versus the
dollar, its first such fall since 2015.

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Special Report
24-May-2018
Date
Commodity/
Currency Pairs
Contract Strategy Entry Level Target Stop Loss Remark
23/05/18 NCDEX DHANIYA MAY BUY 4850 4900-4950 4800 NOT EXECUTED
23/05/18 NCDEX DHANIYA MAY SELL 4680 4660-4640 4700 OPEN
23/05/18
NCDEX
GUARGUM5
MAY BUY 8430 8480-8530 8380 NOT EXECUTED
23/05/18
NCDEX
GUARGUM5
MAY SELL 8130 8080 8030 8180 NOT EXECUTED
23/05/18 MCX GOLD JUN BUY 31150 31200-31250 31100 SL TRIGGERED
23/05/18 MCX GOLD JUN SELL 30070 30020-29070 31020 NOT EXECUTED
23/05/18 MCX SILVER JUL BUY 40250 40350-40450 39150 SL TRIGGERED
23/05/18 MCX SILVER JUL SELL 40190 40000-39900 39920 SL TRIGGERED
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
23/05/18 NIFTY FUTURE BUY 10570-10580 10520-10450 10620 NOT EXECUTED
23/05/18 IDEA FUTURE SELL 56.20 57.20-59.20 54.50 NOT EXECUTED
23/05/18 ASHOKLEY FUTURE BUY 144-144.50 148-150 142 OPEN
23/05/18 GRAPHITE CASH BUY 833 850-870 824 NOT EXECUTED

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Special Report
24-May-2018
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Disclaimer
NEXT WEEK'S MAJOR U.S. ECONOMIC REPORTS
MONDAY,
MAY 21
MONDAY, MAY 21
MONDAY,
MAY 21
MONDAY, MAY 21
MONDAY, MAY
21
MONDAY,
MAY 21
8:30 am
TUESDAY,
MAY 22
TUESDAY, MAY 22
TUESDAY,
MAY 22
TUESDAY, MAY 22
TUESDAY, MAY
22
TUESDAY,
MAY 22
WEDNESDA
Y, MAY 23
WEDNESDAY, MAY 23
WEDNESD
AY, MAY
23
WEDNESDAY, MAY
23
WEDNESDAY,
MAY 23
WEDNESDA
Y, MAY 23
9:45 am Markit manufacturing PMI (flash) May -- 56.5
9:45 am
10 am New home sales April 678,000 694,000
2 pm FOMC minutes
THURSDAY, MAY 24
8.30 am Weekly jobless claims 5/19 -- 222,000
10 am Existing home sales April 5.50 mln 5.60 mln
FRIDAY,
MAY 25
FRIDAY, MAY 25
FRIDAY,
MAY 25
FRIDAY, MAY 25 FRIDAY, MAY 25
FRIDAY,
MAY 25
8:30 am Durable goods orders April -1.% 2.6%
8:30 am
10 am Consumer sentiment index May 99.0 98.8
8:30 am Phily Fed index May 23.2