US Treasury Secretary Steven Mnuchin's comments that the US and China had agreed to drop their tariff threats and hold more trade talks boosted global stock markets. In particular, the Dow rose to a two-month high on reduced fears of a trade war. In India, the Nifty closed lower for a fifth consecutive session, breaking below important support levels. Commodity prices were mixed with gold prices declining as the US dollar strengthened following reduced trade war tensions.

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Special Report
22-May-2018
Global markets at a glance
US stocks rose on Monday and gains in industrials helped
propel the Dow to a more than two-month closing high,
after a truce between the United States and China calmed
fears that a trade war might be imminent.
U.S. Treasury Secretary Steven Mnuchin's comments over
the weekend that the two countries had put the prospect
of a trade war "on hold" and agreed to hold more talks to
boost U.S. exports to China boosted stocks at the opening,
with the Dow Jones Industrial Average leading the charge
higher.
Mnuchin said on Sunday the United States and China had
agreed to drop their tariff threats, and China on Monday
praised a significant dialing back of tensions.
Stocks rose on Monday as US Treasury Secretary Steven
Mnuchin declared the US trade war with China "on hold"
following an agreement to drop their tariff threats that had
roiled global markets this year.
US S&P mini futures rose 0.60 percent in Asian trade on
Monday.
Previous day Roundup
The Nifty which started on a positive note failed to gather
momentum and close marginally above its crucial support
placed at 10,500 levels on Monday making a solid bear
candle on the daily charts.
The index slipped for a fifth consecutive session in a row. It
broke below its crucial support placed at 50-DEMA, and
100-DMA placed at 10,557, and 10,538 respectively.Bears
have tightened their hold on D-Street which is evident from
the fact that the widely tracked Supertrend indicator gave
a sell signal on the charts today. MACD gave a sell signal on
daily charts last week.
The Nifty which opened at 10,616 rose to an intraday high
of 10,621 but then bulls took control and pushed the index
below 10600 levels. The index slipped to an intraday low of
10,505 before closing 79 points lower at 10,516.
Index stats
The Market was very volatile in last session. The sartorial in
dices performed as follow; Commodities[-35.65],
Consumption[56.65pts],PSE[-1.15pts],CPSE[3.95
pts],Energy[-9.50pts],FMCG[-179.00pts],Auto[-
229.85pts],Pharma[-228.65pts],IT[24.70pts],Metal[-
63.00pts],Realty[-9.95 pts], Fin Serv sector[-89.55 pts].
World Indices
Index Value % Change
DJI 24,715.09 0.00
S&P500 2,729.75 0.62
NASDAQ 7,354.34 -0.38
FTSE100 7,778.79 -0.12
NIKKEI 23,031.25 0.44
HANG SENG 31,432.80 1.22
Top Gainers
Company CMP Change % Chg
SBI 244.45 5.60 2.34
BPCL 393.85 7.50 1.94
Bharti Infratel 321.70 5.55 1.76
TCS 3,556.75 54.70 1.56
Idea Cellular 52.85 0.75 1.44
Top Losers
Company CMP Change % Chg
Sun Pharma 443.75 -21.15 -4.55
Dr Reddys Labs 1,893.05 -88.95 -4.49
UPL 682.55 -26.90 -3.79
Yes Bank 334.15 -11.35 -3.29
Tata Motors 295.90 -8.70 -2.86
Stocks at 52 Week’s HIGH
Symbol Prev. Close Change %Chg
ATNINTER 0.2 0 0
BRITANNIA 5597.05 -72.25 -1.29
COLPAL 1222.2 -2.2 -0.18
GSS 91.2 4.1 4.5
HINDUNILVR 1605.8 -30.1 -1.87
INDOSTAR 572 13 2.27
LIQUIDETF 1000.01 0 0
ARVSMART
Indian Indices
Company CMP Change % Chg
NIFTY 10516.70 -79.70 -0.75
SENSEX 34616.13 -232.17 -0.67
Stocks at 52 Week’s LOW
Symbol Prev. Close Change %Chg
ABAN 161.6 -4.95 -3.06
ABB 1216.35 -17.45 -1.43
ABCAPITAL 147.5 -3.7 -2.51

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Special Report
22-May-2018
STOCK RECOMMENDATION [CASH]
RAIN [CASH]
This particular counter is making a bullish continuous
pattern and here we can follow sell weakness to get good
return so we advice you to sell RAIN below 221 tgt 217-
212 sl above 224
MACRO NEW
 Trends on SGX Nifty indicate a negative opening for
the broader index in India, a fall of 27 points, or 0.26
percent. Nifty futures were trading around 10,515
on the Singaporean Exchange.
 The dollar hovered near four-month highs on Tuesday
on renewed optimism about global growth as the
United States and China agreed to drop their tariff
threats, while oil stayed at multi-year peaks over
potential sanctions in Venezuela.Beijing and
Washington both claimed victory on Monday as the
world’s two largest economies stepped back from the
brink of a global trade war and agreed to hold further
talks to boost US exports to China.
 Rating agency Icra Ltd expects gross domestic product
(GDP) growth in the fourth quarter of the fiscal 2017-
18 at 7.4 percent on account of good rabi crop harvest
and improved corporate earnings, up from 7.2 percent
in the third quarter.The Central Statistics Office (CSO)
is scheduled to come out with GDP estimate for the
March 2018 quarter and provisional annual estimates
for the year 2017-18 on May 31. “
 Securities 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.For May 22, 2018, Balrampur Chini,
DHFL, Jet Airways, Just Dial, PC Jeweller, Reliance
Communications, and Wockhardt are present in this
list.
 NSE to delist Kingfisher Airlines, 17 others from May
30
 SBI likely to report loss in Q4FY18 on rise in provisions,
NPAs
RECOMMENDATIONS [FUTURE]
1.ASHOKLEY [FUTURE ]
This particular has made a breakout after making two bull
candles ,149.50 was the earlier support level below which it
has clsoed and earlier trading session it had provided a
massive breakout here we can get correction so sell on rise
would be good option here we advice to SELL ASHOKLEY
AROUND TGT 140-139 TGT 134-130 SL ABOVE 144.
2.JETAIRWAYS [FUTURE]
This particular counter is continuosly maitaining its
downtrend , below 394 there is no support level so sell on
low wowuld be a good startegy to follow so we recommend
to SELL JETAIRWAYS BELOW 394 TGT 390-385 SL ABOVE
399.

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Special Report
22-May-2018
MOST ACTIVE CALL OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY CE 10,600 53.4 2,64,352 37,26,900
NIFTY CE 10,700 22.5 2,59,715 40,25,625
BANKNIFTY CE 26,000 68 2,22,562 6,49,520
BANKNIFTY CE 26,200 28 2,07,922 5,62,240
ASHOKLEY CE 150 0.45 8,082 75,53,000
TCS CE 3,600 30 7,580 5,79,500
MARUTI CE 8,500 85.1 5,635 58,200
TATASTEEL CE 600 4.95 5,396 17,48,528
MOST ACTIVE PUT OPTION
Symbol Optio
n
Type
Strike
Price
LTP Traded
Volume
(Contracts)
Open
Interest
NIFTY PE 10,500 66.4 2,52,969 59,18,400
NIFTY PE 10,600 112.75 2,00,596 39,06,450
BANKNIFTY PE 25,500 49.85 1,89,590 3,16,640
BANKNIFTY PE 25,700 104 1,71,535 2,50,960
MARUTI PE 8,300 52.1 4,847 59,925
TATASTEEL PE 580 13.05 4,158 8,31,824
ASHOKLEY PE 130 2.2 3,254 18,97,000
MARUTI PE 8,200 34 3,249 50,475
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 23101 1973.11 41732 3407.42 244160 20221.89 -1434.314
INDEX OPTIONS 735239 64921.87 741374 65749.16 906925 74376.32 -827.2934
STOCK FUTURES 163107 10735.02 167472 10975.31 1249461 84484.69 -240.2906
STOCK OPTIONS 133991 9708.87 135239 9770.53 140809 9537.92 -61.66
-2563.558
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 Nifty which started on a positive note failed to
gather momentum and close marginally above its crucial
support placed at 10,500 levels on Monday making a
solid bear candle on the daily charts.
The index slipped for a fifth consecutive session in a row.
It broke below its crucial support placed at 50-DEMA,
and 100-DMA placed at 10,557, and 10,538 respectively.
so we advice to BUY NIFTY FUTURE AROUND 10570-
10580 TGT 10520-10450 SL BELOW 10620.
INDICES R2 R1 PIVOT S1 S2
NIFTY 10663.00 10589.00 10547.00 10473.00 10431.00
BANKNIFTY 26214.00 25982.00 25833.00 25601.00 25452.00

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Special Report
22-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 31150 TGT 31200-31250 SL BELOW
31100
SELL GOLD JUN FUT BELOW 30070 TGT 30020-29070 SL ABOVE
31020
SILVER
TRADING STRATEGY:
BUY SILVER JUL FUT ABOVE 40420 TGT 40500-40600 SL BELOW
39350
SELL SILVER JUL FUT BELOW 40190 TGT 40000-39900 SL ABOVE
39920

5. _____________________________________________________________________________________________________________________
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Special Report
22-May-2018
NCDEX INDICES
Index Value % Change
Barley 1455 0.45
Castor Seed 4030 0.22
Chana 3583 -0.11
Coriander 4693 -1.84
Cotton Seed Oilcake 1248.5 -2.42
Guar Seed 10 MT 3787 -1.33
Jeera 15730 -0.16
Mustardseed 3962 -0.33
Soy Bean 3757 -0.5
Turmeric 7220 -0.3
RECOMMENDATIONS
GUARGUM5
BUY GUARGUM JUN FUT ABOVE 8430 tgt 8480-8530 SL
BELOW 8380
SELL GUARGUM5 JUN FUT BELOW 8130 tgt 8080 8030 SL
ABOVE 8180
DHANIYA
BUY DHANIYA JUN FUT ABOVE 4850 TGT 4900-4950 SL
BELOW 4800
SELL DHANIYA JUN BELOW 4680 TARGET 4660-4640 SL
ABOVE 4700
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.

6. _____________________________________________________________________________________________________________________
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
22-May-2018
RBI Reference Rate
Currency Rate Currency Rate
Rupee- $ 68.0883 Yen 61.1500
Euro 79.9289 GBP 91.4085
USD/INR
BUY USD/INR AROUND 68.20 TGT 68.40-68.60 SL 68.00
SELL USD/INR BELOW 68.00 TGT 67.80-67.60 SL 68.20
GBP/INR
BUY GBP/INR ABOVE 91.60 TGT 91.80-92.00 SL 91.45
SELL GBP/INR BELOW 91.20 TGT 91.00-90.80 SL 91.35
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
22-May-2018
Date
Commodity/
Currency Pairs
Contract Strategy Entry Level Target Stop Loss Remark
21/05/18 NCDEX DHANIYA MAY BUY 4850 4900-4950 4800 NOT EXECUTED
21/05/18 NCDEX DHANIYA MAY SELL 4700 4650-4600 4750 OPEN
21/05/18
NCDEX
GUARGUM5
MAY BUY 8430 8480-8530 8380 NOT EXECUTED
21/05/18
NCDEX
GUARGUM5
MAY SELL 8200 8150 8100 8250 TARGET HIT
21/05/18 MCX GOLD JUN BUY 32000 32050-32100 31950 NOT EXECUTED
21/05/18 MCX GOLD JUN SELL 30500 30450-30400 30550 NOT EXECUTED
21/05/18 MCX SILVER JUL BUY 40250 40350-40450 39150 1ST TARGET HIT
21/05/18 MCX SILVER JUL SELL 39830 39780-39730 39920 NOT EXECUTED
Date Scrip
CASH/
FUTURE/
OPTION
Strategy Entry Level Target Stop Loss Remark
21/05/18 NIFTY FUTURE BUY 10850-10860 10900-10950 10800 NOT EXECUTED
21/05/18 JETAIRWAYS FUTURE SELL 413 406-400 417 TARGET HIT
21/05/18 ASHOKLEY FUTURE SELL 147.20 145.20-143 149 TARGET HIT
21/05/18 WELENT FUTURE BUY 186.50 190-194 183 TARGET HIT

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Special Report
22-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