02.07.

2018

Market commentary
Nifty 50 closed today below 10700 with a fall of 49 points while the
BSE Sensex fell by 159 points and closed at 35264. The fall in indices was due to
the losses in telecom and metal sector stocks. Oil prices fell after US President
Donald Trump tweeted that Saudi Arabia had agreed to lift oil production by
“maybe up to 2,000,000 barrels”. The sectors which gained today were power,
infrastructure, realty, PSU, oil and gas, capital goods, FMCG, healthcare, auto and
banking. Top five gainers were Asian Paints, Infosys, Vedanta, Bajaj Auto and ICICI
Bank, while the major losers were NTPC, Bharti Airtel, Adani Ports, Hero
MotoCorp and HDFC Bank.
On Tuesday Nifty may fall down tomorrow also because of the weak
global sentiments.

Nifty Daily Chart

R2 R1 Pivot S1 S2
Nifty
10758 10701 10648 10591 10538
Stock to Watch for Tuesday
Speciality Restaurents Ltd
Daily Chart

Technical Analysis
The stock Speciality has formed the cup and handle pattern on
weekly time frame. The stock has made a high of 196.3 on April 17, 2015 and low
of 84.55 on Mar 17, 2017. The stock is moving downwards on within the channel
line on daily time frame and if the volume will be sufficiently high on buying side
then the stock can give the channel line breakout.

Buy Speciality above 120 with the target around 130-135 and the
stop loss at 113.15.
Market Highlights

 Thyssenkrupp AG and Tata Steel Ltd. reached a final agreement to set up

a European steel giant as some of the German company’s biggest
investors expressed concern that the deal favors its Indian partner. The
tie-up to create Europe’s largest steel producer after ArcelorMittal is part
of efforts to tackle industry overcapacity as Chinese exports fed a global
glut last year. The market has rebounded since the joint venture was
announced as steel demand strengthens and Donald Trump’s threat of
tariffs pushes prices to their highest level in years.
 Deutsche Bank AG, which is in the throes of a global restructuring
involving thousands of job cuts, is zeroing in on an Asian market where an
unprecedented bad-loan clean-up offers the potential for a credit
bonanza. In India, where bankruptcy law changes have injected urgency
into efforts to restructure $210 billion of stressed assets, Deutsche Bank
sees an opportunity to generate outsized returns by refinancing and
trading debt, according to Amit Khattar, Asia-Pacific co-head of global
credit trading. Khattar is considering adding to his team.
 A dangerous narrative being peddled by the Centre is that LIC has so
much cash – it gets about Rs 2 trillion premium money from customers
every year – that it is a mere drop in the ocean if it buys a 51 per cent
stake (about Rs 130 billion) in IDBI Bank. There is also talk of LIC rescuing
Air India by taking a 24 per cent stake after the government’s failed
attempt to invite bidders to acquire the ailing airline. The notion that LIC
has an unlimited war chest is totally fallacious because life insurance
companies hold people’s premium money for 30-years-plus only to
eventually pay back the insured or their nominees.

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

Category Date Buy Value Sell Value Net Value
FII/FPI 02-Jul-2018 3543.39 4748.51 -1205.12
DII trading activity in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 02-Jul-2018 3829.25 3462.31 366.94
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