The S&P 500 fell on concerns over potential issues passing the Republican tax bill. Asian shares were higher but sentiment was cautious. The Nikkei fell due to a stronger yen. Big Japanese manufacturers reported improved business confidence. US retail sales and unemployment claims pointed to economic strength but could allow more Fed rate hikes. Fed raised rates as expected but kept its rate outlook unchanged. Nifty futures pointed to a positive open. Exit polls predicted a BJP majority in Himachal Pradesh and Gujarat state elections.

1. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
Global markets at a glance
Major U.S. stock indexes fell on Thursday, with the S&P 500
down the most in a month, as investor worries over
potential roadblocks to the Republicans' tax overhaul
morethan offset optimism over strong retail sales
data.Though congressional Republicans had reached a deal
on final tax legislation on Wednesday, Republican Senators
Marco Rubio and Mike Lee said on Thursday they would
not get behind the bill without changes to child tax credits.
Asian shares edged higher on Friday, on track for weekly
gains, though sentiment was kept in check by Wall Street's
weakness on concerns about the progress of U.S. tax
reform.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 0.04 percent in early trade, poised to gain 1.2
percent for the week.
But Japan's Nikkei stock index slipped 0.8 percent, down
1.3 percent for the week, feeling the pinch of a stronger
yen even amid fresh signs the economy is gathering
momentum.
Big Japanese manufacturers' business confidence improved
for a fifth straight quarter in the three months to
December to hit an 11-year high, the Bank of Japan's
quarterly tankan survey showed.
On Thursday, U.S. retail sales increased more than
expected in November and the number of Americans filing
for unemployment benefits dropped to near a 44-1/2-year
low last week. That pointed to sustained strength in the
economy that could pave the way for further Federal
Reserve interest rate hikes next year.
The Fed hiked interest rates on Wednesday but left its rate
outlook for the coming years unchanged even as
policymakers projected a short-term jump in U.S. economic
growth from the Trump administration's proposed tax cuts.
Previous day Roundup
The index opened at 10,229 and rose to an intraday high of
10,276. It slipped to an intraday low of 10,141 before
closing the day at 10,252, up 59 points.
According to Pivot charts, the key support level is placed at
10,170.37, followed by 10,088.63. If the index starts to
move higher, key resistance levels to watch out are
10,304.97 and 10,357.83.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Consumer Durables [-133.91 ],
CapitalGoods [ -0.74pts],PSU[ 40.63 pts],FMCG
[7 1.7 4 pts],Realty[6.12pts],Power[1.74pts],Auto
[ 91.83 pts],Healthcare[88.18pts],IT[4.11 pts],Metal
[38.71 pts],TECK[ 7.26pts], Oil& Gas [ 159.33 pts].
World Indices
Index Value % Change
DJI 24,508.66 -0.31
S&P500 2,656.00 0.00
NASDAQ 6408.00 -0.01
FTSE100 7,448.12 -0.65
NIKKEI 22,494.76 -0.89
HANG SENG 28,880.51 -0.99
Top Gainers
Company CMP Change % Chg
HPCL 437.25 13.90 3.28
Dr Reddys Labs 2,310.65 49.95 2.21
Cipla 590.45 12.30 2.13
Tech Mahindra 514.25 10.65 2.11
ITC 264.25 5.25 2.03
Top Losers
Company CMP Change % Chg
TCS 2,557.80 -70.60 -2.69
GAIL 487.10 -4.70 -0.96
UPL 719.60 -6.45 -0.89
Aurobindo Pharm 665.35 -3.80 -0.57
Sun Pharma 514.40 -2.45 -0.47
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
ALANKIT 56.5 -0.55 -0.97
AVTNPL 54.35 2.15 3.96
BALKRISIND 2441.3 3.7 0.15
BLBLIMITED 9.2 0.45 4.89
BRFL 219.05 2.05 0.94
CAMLINFINE 108.55 5.65 5.2
DCMSHRIRAM 574.8 29.45 5.12
Indian Indices
Company CMP Change % Chg
NIFTY 10252.10 59.10 0.58
SENSEX 33246.70 193.66 0.59
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
BHARATIDIL 5.95 -0.25 -4.2
DBCORP 348.4 -3.65 -1.05
DENABANK 24.35 -0.1 -0.41

2. _____________________________________________________________________________________________________________________
Special Report
15 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 , yesterday trading the market
was sideways due to which it could not break its support
of 345, hence ending with a doji 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 64 points higher at 10352 indicating a
positive opening for the domestic market.
 The exit polls predict a clear BJP majority in both
Himachal Pradesh and Gujarat. In Himachal Pradesh,
the BJP is expected to wrest power from the Congress
with a massive majority. In Gujarat, the BJP is
projected to win around 110 seats on average, just
short of the 115 seats out of 182 it won in 2012.
 Multi-specialty hospital chain Shalby which recently
concluded its Rs 504 crore initial public offering, will
list its shares on NSE as well as BSE today. The IPO,
which opened for subscription from December 5-7,
was subscribed 2.8 times at a price band of Rs 245-248
per share.
 SEBI on Thursday said it is still considering to make
defaulting corporates to disclose the negative
development to the regulator, markets and exchanges
mandatory.Tyagi said the decision was made as banks
had asked for more time as the Indian credit market
was different from its Western counterparts where
such a disclosure is mandatory.
RECOMMENDATIONS [FUTURE]
1. WOCKPHARM [FUTURE ]
This particular counter is trading just above its support level
747 & 760 also above its 9 period high low average which is
at 722 in daily & 740 in hourly chart, and it has made a clear
cut 52 weeks high breakout after reversing from its support
level of 747 (ntraday level) buy on cmp would be good to
follow so we advice to BUY WOCKPHARM FUTURE AT CMP
763 TGT 770-777 SL 755.
2.APOLLOTYRE [FUTURE]
APOLLOTYRE is getting a crucial support at the level of 240,
in the hourly chart its resistance zone is 244-246 on the
upside were its respecting its 9 & 26 period high low average
so we advice to SELL APOLLOTYRE FUTURE AROUND 246-244
TGT 240-236 SL ABOVE 250.

3. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
MOST ACTIVE CALL OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
BANKNIFTY CE 24,900 242 2,06,370 6,920
NIFTY CE 10,400 82.2 2,01,544 51,03,375
NIFTY CE 10,300 132.75 2,01,125 38,82,975
RELIANCE CE 920 27 9,144 12,13,000
RELIANCE CE 940 18.5 6,008 29,24,000
RELIANCE CE 960 11.9 4,057 30,45,000
INFY CE 1,020 16.25 3,878 5,75,000
INFY CE 1,040 9.25 3,098 4,42,000
MOST ACTIVE PUT OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
BANKNIFTY PE 24,500 0.05 2,38,758 6,85,960
NIFTY PE 10,000 59.75 2,08,060 96,04,800
NIFTY PE 10,100 79.6 1,75,319 48,49,500
RELIANCE PE 880 8 4,267 8,20,000
RELIANCE PE 900 13 3,589 9,67,000
INFY PE 1,000 12.85 2,570 3,59,500
MARUTI PE 9,000 98.4 2,412 72,675
INFY PE 980 7.2 1,978 4,91,000
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 31156 2585.73 21516 1818.23 219257 17606.77 767.4985
INDEX OPTIONS 992330 87633.75 1006433 88700.49 1204530 94978.06 -1066.7484
STOCK FUTURES 109945 7908.11 108098 7777.15 1043109 72051.10 130.9594
STOCK OPTIONS 80025 5834.50 80696 5875.12 66012 4721.16 -40.6136
-208.9041
SELL
STOCKS IN NEWS
 Gulf Oil Lubricants starts Commercial Production At
Chennai Plant
 Unitech - HDFC sells 12.9mn shares, invokes 82mn
pledged shares of Unitech
NIFTY FUTURE
Yesterday trading session Nifty was flat and continued its
sideways movement but during the last trading session
the market got the hint of the exit pole result of the
Gujrat election, which caused a reversal from the 10150
level, if today Nifty crosses its 10300 mark then its surly
a buy so we advice to Buy Nifty future around 10330-
10340 Tgt 10400-10460 sl 10280.
INDICES R2 R1 PIVOT S1 S2
NIFTY 10358.00 10305.00 10223.00 10170.00 10088.00
BANKNIFTY 25404.00 25286.00 25087.00 24969.00 24770.00

4. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
COMMODITY ROUNDUP
Gold futures traded higher on MCX as participants created
fresh positions due to a firm trend overseas, where gold
inched up as the dollar was nearly unchanged after
tumbling in the previous session following the US Federal
Reserve’s widely expected decision to raise interest rates.
The contract for February delivery was trading at Rs
28350.00, up by 0.55% or Rs 155.00 from its previous
closing of Rs 28195.00. The open interest of the contract
stood at 7344 lots.
The contract for April delivery was trading at Rs 28380.00,
up by 0.52% or Rs 148.00 from its previous closing of Rs
28232.00. The open interest of the contract stood at 1022
lots on MCX.
Comex gold futures rose 0.74% to $1,257.80 a troy ounce as
of 4:57 AM ET (09:57 AM GMT).
The Federal Open Market Committee on Wednesday raised
rates for the third time in 2017 as expected, forecasting
further rate hikes despite concerns over the slowing pace of
inflation.
Gold is sensitive to rising rates, which increase the
opportunity cost of holding non-yielding assets such as
bullion, while boosting the dollar, in which it is priced.
Fed officials also hiked their projection for economic growth
in 2017 to 2.5%, while growth in 2018 was expected to rise
to 2.5%, a 0.4% increase from the Fed’s September
projection.
Gold was also bolstered by comments from U.S. President
Donald Trump, who said he hopes to sign the tax reform bill
“in a very short period of time." The highly anticipated bill
will cut corporate taxes from 20% from 35%, which
investors believe would help companies invest more and
boost the economy.
Meanwhile the U.S. dollar index, which measures the
greenback against a basket of six major currencies, inched
forward 0.06% to 93.46.
Tepid inflation data has put pressure on the greenback, as
investors lower their expectations for a faster pace of rate
hikes next year.
The Labor Department said on Wednesday its Consumer
Price index rose 0.4% in November. However, year-over-
year core inflation was below expectations, rising just 1.7%.
Elsewhere on the Comex, silver futures surged 1.24% to
$16.065 a troy ounce. Among other precious metals,
platinum rose 0.97% to $883.85, while palladium were
down 0.21% to $1,001.92 an ounce.
RECOMMENDATIONS
GOLD
TRADING STRATEGY:
BUY GOLD DEC ABOVE 28370 TGT 28420 28520 SL BELOW
28270
SELL GOLD DEC BELOW 28170 TGT 28120 28020 SL ABOVE
28270
SILVER
TRADING STRATEGY:
BUY SILVER DEC ABOVE 37200 TGT 37400 37700 SL BELOW
37000
SELL SILVER DEC BELOW 36600 TGT 36400 36000 SL ABOVE
36800

5. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
NCDEX INDICES
Index Value % Change
Castor Seed 4470 0.34
Chana 3887 -2.99
Coriander 5390 2.06
Cotton Seed Oilcake 1676.5 0.48
Guar Seed 10 MT 3833 0.7
Jeera 21380 -2.33
Mustardseed 3963 -0.78
Soy Bean 2967 -1.4
Turmeric 7158 1.99
Wheat 1671 0.3
RECOMMENDATIONS
DHANIYA
BUY CORIANDER DEC ABOVE 5550 TGT 5600 5700 SL
BELOW 5500
SELL CORIANDER DEC BELOW 5400 TGT 5350 5250 SL
ABOVE 5450
GUARGUM
BUY GUARGUM5 DEC ABOVE 8560 TGT 8610 8710 SL
BELOW 8510
SELL GUARGUM5 DEC BELOW 8460 TGT 8410 8310 SL
ABOVE 8510
Cardamom futures traded higher on MCX as market players
widened their bets on strong physical demand of the spice
commodity in domestic and overseas market. Moreover,
tight supplies from the major producing regions too
supported the uptrend in cardamom prices.
The contract for January delivery was trading at Rs 1057.00,
up by 0.28 % or Rs 3.00 from its previous closing of Rs
1054.00. The open interest of the contract stood at 365
lots.
The contract for Februvary delivery was trading at Rs
1070.50, up by 0.20% or Rs 2.10 from its previous closing of
Rs 1068.40. The open interest of the contract stood at 177
lots on MCX.
eera futures rate declined on NCDEX, as speculators locked
in their prevailing profits in midst of eased demand from
domestic and overseas market. Meanwhile, surplus stock
levels and increase in supplies from growing belts also
dragged down the commodity rate further.
The contract for December delivery was trading at Rs
21705.00, decreased by 0.85% or Rs 185.00 from its
previous closing of Rs 21890.00. The open interest of the
contract stood at 2898 lots.
The contract for January delivery was trading at Rs
21805.00, down by 0.46% or Rs 100.00 from its previous
closing of Rs 21905.00. The open interest of the contract
stood at 10185 lots on NCDEX.
Coriander futures edged higher on NCDEX as participants
built up fresh positions, tracking rising demand in the spot
market. Further, limited arrivals from major producing belts
also fuelled the uptrend.
The contract for January delivery was trading Rs 5660.00,
up by 0.6% or Rs 34.00 from its previous closing of Rs
5626.00. The open interest of the contract stood at 41550
lots.

6. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 64.2798 Yen 57.0600
Euro 75.9980 GBP 86.3535
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 dollar held steady against other major currencies on
Thursday, as markets were still digesting the Federal
Reserve's latest policy statement, while looking ahead to a
string of U.S. economic reports due later in the day.In a
widely expected move, the Fed raised interest rates by
0.25 basis points to 1.50% at the conclusion of its policy
meeting on Wednesday.The central bank did not change its
projections for 2018, which include three more interest
rate hikes in both 2018 and 2019, disappointing
expectations for four rate hikes next year.In other news,
Congressional Republicans reached a deal on final tax
legislation on Wednesday, clearing the way for final votes
next week.
The U.S. dollar index, which measures the greenback’s
strength against a trade-weighted basket of six major
currencies, was little changed at 93.4 by 05:15 a.m. ET
(09:15 GMT), just off a one-week low of 93.33 hit
overnight.The euro was steady, with EUR/USD at 1.1821,
while GBP/USD rose 0.22% to 1.3447.
Earlier Thursday, official data showed that UK retail
sales rose more than expected in November.
Meanwhile, the euro zone registered its fastest growth in
business activity in almost seven years this month.
Elsewhere, the yen and the Swiss franc were lower,
with USD/JPY up 0.20% at 112.76 and with USD/
CHF gaining 0.30% to 0.9884.
The Swiss National Bank left its benchmark interest rate
unchanged at record-low -0.75%, in line with expectations.

7. _____________________________________________________________________________________________________________________
Special Report
15 Dec-2017
Date
Commodity/
Currency Pairs
Contract Strategy Entry Level Target
Stop
Loss
Remark
14/12/17 NCDEX DHANIYA DEC. BUY 5450 5500 5600 5400 TARGET HIT
14/12/17 NCDEX DHANIYA DEC. SELL 5350 5300 5200 5400 TARGET HIT
14/12/17
NCDEX
GUARGUM
DEC. BUY 8450 8500 8600 8400 TARGET HIT
14/12/17
NCDEX
GUARGUM
DEC. SELL 8300 8250 8150 8350 NOT EXECUTED
14/12/17 MCX GOLD FEB. BUY 28270 28320 28420 28170 NOT EXECUTED
14/12/17 MCX GOLD FEB. SELL 28100 28050 27950 28200 NOT EXECUTED
14/12/17 MCX SILVER MAR. BUY 36950 37000 37300 36800 NOT EXECUTED
14/12/17 MCX SILVER MAR. SELL 36750 36550 36250 36900 NOT EXECUTED
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
14/12/17 NIFTY FUTURE BUY 10315-10320 10250-10200 10360 NOT EXECUTED
14/12/17 AUROPHARMA FUTURE SELL 678-680 671-660 690 1ST TGT HIT
14/12/17 SUNTV FUTURE BUY 923 930-940 915 SL TRIGGRED
14/12/17 KOLTEPATIL FUTURE SELL 345 340-335 350 NOT EXECUTED

8. _____________________________________________________________________________________________________________________
Special Report
15 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%