05.07.

2018

Market commentary
Today the Nifty 50 closed at 10760 by losing 11 points while the BSE
Sensex ended at 35574 by losing 70 points. It is due to the losses in market
heavyweights Infosys and Reliance Industries amid weak global cues. The Indian
rupee weakened past the 69-mark against the US dollar, tracking losses across
Asian peers. In global markets, European shares rose alongside US futures, while
Asian stocks fell to a nine-month low as traders prepare for the implementation
of fresh trade restrictions between US and China. Yes Bank, ITC, Asian Paints and
Bajaj Auto were among the major gainers, whereas Infosys, Vedanta, Tata Steel
and Reliance Industries were among the top losers.
Today the Nifty has formed the doji candle followed by uptrend on
daily time frame so the Nifty may fall tomorrow.

Nifty Daily Chart

R2 R1 Pivot S1 S2
Nifty
10911 10835 10715 10639 10519
Stock to Watch for Friday
DCM Shriram Ltd
Daily Chart

Technical Analysis
The stock DCM Shriram has formed the double bottom pattern on
daily time frame. The stock has taken the support at 239 on weekly time frame.
On monthly time frame the stock took a retracement in the month of February
and then in June it formed a doji candle which indicates that it may now go for an
uptrend. The Relative strength indicator also shows the strength above 50 which
is quite favorable for buying.

Buy DCM Shriram Ltd. above 325 with the target around 335-340
and the stop loss at 314.45.
Market Highlights

 National carrier Air India has changed the name of Taiwan to Chinese
Taipei on its website, following instructions from the government, an
airline spokesperson said. China had raised concerns about Taiwan being
described as a separate region by various airlines worldwide. The
spokesperson said Air India followed the procedure as advised by the
Ministry of External Affairs in updating the airline's website with respect
to changing name of Taiwan. Air India operates flights to two destinations
in China region -- Shanghai and Hong Kong.
 Prime Minister Narendra Modi's pre-election gambit to sharply hike state-
mandated prices for summer crops, including rice, may mean little to
millions of farmers, as the government lacks the storage and funds
needed to buy most of the produce. The median increase in the so-called
minimum support prices (MSPs) approved by the government on
Wednesday was 25 per cent, compared with 3-4 per cent in the first four
years in office for Modi, whose bid for a second term next year is
expected to be much tougher than his landslide victory in 2014.
 Lenders to Essar Steel feel that ArcelorMittal, “a serious and credible
resolution applicant”, has displayed “a genuine intention and taken
concrete steps” by attempting to clear overdues in defaulting firms
whereit was a shareholder. This was stated by ArcelorMittal, with
reference to the documents presented in the NCLAT on Wednesday. A
statement tweeted by ArcelorMittal said, “We welcomed the opportunity
to begin presenting our case to the National Company Law Appellate
Tribunal (NCLAT) on Wednesday. We have consistently maintained our
belief that our offer for Essar Steel India Limited (ESIL) is eligible and that
we are the only credible resolution applicant for ESIL.”

FII/FPI trading activity in Capital Market Segment(In Rs. Crores)

Category Date Buy Value Sell Value Net Value
FII/FPI 05-Jul-2018 3870.59 4029.96 -159.37
DII trading activity in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 05-Jul-2018 3386.96 3683.93 -296.97
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