Wednesday, 29 November 2017

Gold Prices Gain Slightly In Asia After NKorea Missile Test

Gold prices failed to get a significant boost in Asia on Wednesday after the latest
ballistic missile test by North Korea.
Overnight, gold prices pared gains on Tuesday as reports suggesting that North Korea
fired a ballistic missile failed to raise safe haven demand.
North Korea fired a ballistic missile from an area near Pyongyang early on Wednesday,
South Korea’s military said, while the Japanese government said it landed in the
country’s exclusive economic zone.
The Pentagon says initial the assessment of of the North Korea launch was an ICBM
and Japan PM Shinzo Abe ordered an emergency meeting of cabinet ministers over the
missile launch.
Also supporting gold prices were comments from Federal Reserve chair designate
Jerome Powell, who testified before Congress on Tuesday.
Powell’s comments did little to change the widely held view that the incoming Fed chair
will adopt a similar stance to outgoing Fed Chair Janet Yellen on monetary policy.
Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-
yielding assets such as bullion.

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Thursday, 23 November 2017

top 3 stocks could give up to 16% return in 6 months

The Nifty regained momentum in the preceding five sessions, after last week’s
decline, led by broad-based buying and supportive global cues.
We continue to maintain our positive stance and expect the index to head towards a
target of 10,600 levels in the coming weeks as it is the measuring implication of the
Bullish Double Bottom pattern formed during the August – September period.
The Nifty50 held on to its key support of 10,100 levels during the recent decline from
10,490, as it is the confluence of following:
- The bullish gap area leading to the breakout from three-month range is placed
around 10,123-10,096 region
- 50 percent retracements of current up move (9,687-10,490) are placed at 10,094
- Equality of preceding decline (10,178-9,687=491 points) as calculated from life high
of 10,490 is placed around 10000 levels
We believe current round of profit booking will make the market healthier by working
off short-term overbought conditions.
Structurally, the rally from September 2017 lows (9,687 to 10,451 = 764 points) is
larger in magnitude compared to the preceding rally of July-August 2017, measuring
689 points.

The rally getting bigger highlights inherent strength in the trend amid persistent
demand at elevated levels and augurs well for the continuance of the up move going
Here is a list of top three stocks which could give up to 16% return in the next 6
Tata Chemical: BUY| CMP Rs736| Target Rs805| Stop Loss Rs695| Return 9%|
Time Frame 1 month
Tata Chemical has resumed its up move after consolidation above the recent trend line
breakout area signalling a change of polarity as previous trend line resistance reverse
its role and acting as support.
The stock after three weeks of profit booking, which has been characterized by
shallow correction has broken above prior week’s high indicating resumption of up
move and offers fresh entry opportunity.
The lower band of recent consolidation was placed at Rs702 levels is likely to act as
support in the short term. Weekly 14-period’s RSI is in a strong uptrend forming
higher high and higher low and is seen rebounding taking support at its nine period’s
average thus supports the continuation of the uptrend in the short term
Based on the above technical observation we expect the stock to head towards Rs805
levels over the coming month being the 161.8% external retracement of recent decline
(Rs765-702) placed at Rs805 levels
MOIL: BUY| CMP Rs252| Target Rs282| Stop Loss Rs232| Return 12%| Time
Frame 1 months

MOIL Ltd has witnessed a strong breakout rally during October 2017 rallying from
Rs190 to 52 weeks high of Rs285. In the process, the stock has registered a resolute
breakout above the rebounding pattern containing the entire price activity since
January 2017 to October 2017.
Post the breakout rally the stock has entered a shallow correction in the last three
weeks to work off the overbought condition developed during the previous rally
The stock has recently resumed its up move after consolidating near the 38.2%
retracement of the previous rally placed around Rs242 levels, which is likely to act as
major support for the stock in short-term.
Among oscillators, the weekly MACD (E-12/26/9) which measures the underlying
strength in the trend had entered into rising trajectory since August 2017 and is
currently diverging from its 9-period average highlighting strong bullish momentum
and indicates strength in the price structure
Based on aforementioned technical observations, we believe the consolidation phase
over the last three weeks has approached maturity, thus offering fresh entry
opportunity. We expect the stock to resolve higher and test its recent high of Rs285 in
coming weeks
Oberoi Realty: BUY| CMP Rs509| Target Rs590| Stop Loss Rs465| Return 16%|
Time Frame 6 months
The stock remains in a well-established uptrend and continues to inch northwards in a
rising peaks and troughs manner on medium time frame charts.
Structurally, the rallies are becoming bigger and swifter underlying the robustness in
the price structure along with strong momentum. At the same time, corrections are

short-lived and shallow in nature which is the sign of the consistent appetite for the
stock at elevated levels.
In the current week, the share price has resumed its uptrend following the two-week
breather, as it breaks out of Bullish Flag continuation pattern. Breakout from bullish
flag pattern offers a fresh entry opportunity to ride prevalent uptrend in the stock.
Based on aforementioned technical observations, we believe the stock price is
expected to continue its current upward trend. We have projected a medium-term
target of Rs590 based on the measuring implication of the bullish Flag pattern
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Wednesday, 22 November 2017

boosts already growing confidence in Indian debt

Driven by more attractive rates and relatively strong economic
fundamentals among emerging markets, offshore dollar borrowing
by Indian companies has already risen 32 percent from the start of
2017 to $8.81 billion, according to Reuters data.
The rating agency’s decision on Friday to raise India’s credit
assessment for the first time in nearly 14 years to a notch higher
than its rivals was perfect timing for billionaire Mukesh Ambani’s
Reliance Industries, which announced plans to raise $800 million
offshore just days before.
The upgrade to Baa2 from Baa3 lifted Indian stocks, bonds and currency and helped Reliance price its notes at 130 basis points (bps) over U.S. Treasuries on Tuesday, the tightest ever spread for
an Indian issue.
Other companies are assessing if the narrowing in Indian bonds
yields over U.S. Treasuries will last with a view to raising fresh
funds, say bankers and corporate finance heads.
Markets have received the upgrade well, said Jujhar Singh,
managing director and head of capital markets, South Asia at
Standard Chartered Bank.
“This should give further confidence to Indian corporates to raise
dollar funds through the international bond markets at the tightest
ever spread in the last 10 years,” he said.
Foreign investment in India’s domestic corporate debt has reached
its ceiling under central bank-mandated limits, forcing those
investors who want exposure to India to buy offshore. This had
helped tighten spreads even before the upgrade.
State Bank of India 2024 bonds have come in to 120 bps over U.S.
Treasuries from 126 bps over just before the Moody’s upgrade and
147 bps over in early 2017.
Seshagiri Rao, joint managing director of India’s JSW Group, a
steel-to- energy company, said the ratings upgrade could help JSW
potentially save over $1 million annually on its borrowings.
Mahindra Group, which operates multiple businesses from autos to
information technology, might tap offshore markets too, said
finance head V.S. Parthasarathy, adding “a small one step upgrade
by Moody’s is a big step up for India’s confidence.”
Companies, including quasi-sovereign issuers that had already
begun work on raising funds offshore, such as Indian Railways
Finance Corp and Power Finance Corp, are now speeding up the
process, bankers said.
State-controlled Hindustan Petroleum, might explore raising funds
offshore next year, Chairman M.K. Surana said.
“Some institutional investors who are required to invest in
investment-grade bonds might not have been willing to buy India
dollar bonds in the past as the Baa3 credit rating did not give them
psychological comfort margin in case of a downgrade,” said Ken
Hu, a senior investment officer at Invesco.
The prior Baa3 rating was the lowest investment-grade level.
Lower-rated issuers could also benefit with some bankers
estimating their borrowing costs could fall as much as 15 basis
points in offshore dollar markets.
Still, Moody’s upgrade may not be enough to please all debt
“India’s a good credit to have on the books for foreign investors,”
said a senior investment banker, who declined to be named as he is
not authorised to speak to media. “However, much bigger traction
among investors will happen only if at least one more rating agency
upgrades India.”
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Tuesday, 21 November 2017

Wipro's Rs 11,000-crore share buyback to begin from November 29

In addition to placing the bid through stock broker, the stock broker of the eligible
shareholder holding equity shares in physical form can submit their signed tender
form and other documents by December 15, the document said.
IT company Wipro on Monday said it will open Rs 11,000-crore share buyback
scheme on November 29 for Rs 320 a unit, at 8.6 percent premium over current price.
The company has announced to buyback over 34.37 crore fully paid-up equity shares
of face value Rs 2 each of the firm, representing up to 7.06 per cent of the total paid-
up equity share capital, from all the fully paid-up equity shareholders/ beneficial
owners of the shares as on the record date of September 15, 2017, on a proportionate
basis, it said in a regulatory filing.
Wipro will process the buyback through a tender offer route, at a price of Rs 320 per
equity share for an aggregate amount of up to Rs 11,000 crore, as per the
"The eligible shareholder can tender equity shares in the buyback only during the
tendering period which is from Wednesday, November 29, 2017 to Wednesday,
December 13, 2017," the company said in the offer document.
Share buybacks improve earnings per share and return surplus cash to shareholders,
while also supporting share price during periods of sluggish market conditions.

Eligible shareholders holding and tendering equity shares held in their demat form are
not required to submit the tender form to the registrar of the scheme, Karvy
The buyback is being managed by JM Financial Institutional Securities.
As on September 30, 2017, Wipro had consolidated cash and cash equivalents of Rs
5,141.2 crore on its books and investments of Rs 33,305.6 crore, totalling Rs 38,446.8
Among Indian IT companies, TCS has already completed a Rs 16,000 crore buyback
programme earlier this year.
The country's second largest IT firm Infosys will open share buyback worth Rs
13,000-crore on November 30 and end on December 14.
Shares of Wipro closed at Rs 294.6 a unit, down by 0.05 per cent compared to
previous close, at BSE today.
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Monday, 20 November 2017

Sail charts new marketing strategy

KOLKATA: Creating new products, 10 per cent exports and retail thrust would be new marketing mantra of PSU steel giant SAIL. The Chairman of the steel behemoth P.K. Singh interacted with the company's entire marketing team and employees of local units in Kolkata on Saturday.

Acknowledging the efficiency of SAILs new marketing strategy aimed at gaining a competitive edge in the market he said, "For SAIL, the new marketing strategy, with customer retention through enhanced customer experience as its mantra, is a way-forward to consolidate its market leadership and is a crucial tool for the turnaround of the company in the near future."

Pointing towards the stiff market competition, he added that, "Big challenges offer great opportunities. Capacity addition by other companies enhances market competition and in such a scenario SAIL's intelligent workforce, experienced manpower and new assets are great advantages."

Discussing several marketing strategies, Singh said, "While retaining our core marketing values, we are strengthening our market-centric and consumer-oriented approach for
reaching our customers. At SAIL, customer-value management is supreme. With stabilization of most of our new and modernized mills, we are diversifying our product basket with several value-added and ready-to- use products. SAIL will introduce several new and niche brands to its product basket. Gauging the domestic and international market, SAIL aims to have a blend of both markets in its portfolio."
He added that the company is scaling up its presence in global markets through exports. 10 per cent of SAIL's saleable steel production will be targeted for new markets overseas, including Africa, Philippines, Indonesia, Thailand, Sri Lanka, Bangladesh etc. SAIL is also streamlining its channel management to address the needs of customers in untapped geographies. In the times to come, SAIL will focus on retail sales with higher volumes and deeper reach along with exploring effective ways of transportation and logistics.

During the interaction, Singh praised the marketing collective's efforts for developing dedicated cross-functional teams for marketing the company's new products and exploring new markets befitting them.

This large group interaction with around 350 executives of SAIL is expected to provide a further boost to the stepped-up efforts of the company to expand and enrich its market share. Other senior management present during the communication exercise included Director (Technical) Shri Raman, Director (Commercial) Ms Soma Mondal and several other senior executives.

While interacting with employees by turn at each SAIL unit through large group communication exercises, SAIL's top management has been brainstorming to further align its production planning with greater market orientation.

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Thursday, 16 November 2017

Narendra Modi remains 'by far'

Prime Minister Narendra Modi remains "by far" the most popular figure in Indian

politics, the Pew said today, releasing the main findings of its latest survey conducted

among 2,464 respondents in India.

Modi at 88 per cent is 30 points ahead of Congress leader Rahul Gandhi (58 per cent),

31 points ahead of Congress president Sonia Gandhi (57 per cent) and 49 points ahead

of Delhi Chief Minister Arvind Kejriwal (39 per cent), said the survey conducted

between February 21 and March 10 this year.

Pew said the public's "positive assessment" of Modi is buoyed by "growing

contentment" with the Indian economy: more than eight-in- ten say economic

conditions are "good", up 19 percentage points since immediately before the 2014


The share of adults who say the economy is "very good" (30 per cent) has tripled in

the past three years, it added.


Overall, seven-in- ten Indians are now "satisfied" with the way things are going in the

country. This positive assessment of India’s direction has nearly doubled since 2014,

Pew said.

According to Pew, at least nine-in- ten Indians in the southern states of Andhra

Pradesh, Karnataka, Tamil Nadu and Telangana and in the western states of

Maharashtra, Gujarat and Chhattisgarh hold a favorable view of the prime minister.

The same is true for more than eight-in- ten in the eastern states of Bihar, Jharkhand,

Odisha and West Bengal and the northern states of Delhi, Haryana, Madhya Pradesh,

Punjab, Rajasthan and Uttar Pradesh.

"Since 2015, Modi's popularity is relatively unchanged in the north, has risen in the

west and the south, and is down slightly in the east," it said.

Notably, the survey reflects a 21 percentage points drop in favorable view of America

among Indians from 70 per cent in 2015 to just 49 per cent in 2017.

Only 40 per cent express confidence in President Donald Trump to do the right thing

regarding world affairs, down 34 points from their faith in his predecessor Barack

Obama in 2015.

Same is the case with China, whose favorability rating among Indians have dropped

from 41 per cent in 2015 to 26 per cent in 2017. The survey was conducted before the

Doklam crisis.

According to Pew Survey, despite periodic outbreaks of religious violence, relatively

few Indians see communal relations as a very big problem.


"Similarly, despite Prime Minister Modi’s decision last November to abolish high-

value bank notes, less than half of the Indian population sees the lack of availability of

cash to be a major problem," it said.

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Wednesday, 15 November 2017

Car, bike buyers should brace up for price hikes in January

Prices of essential metals such as steel, copper and aluminium have headed north in

 the past few weeks forcing automotive companies to relook at a price hike at the

 beginning of 2018.

 Three of the top five automakers - Maruti Suzuki, Tata Motors and Mahindra & Mahindra –
have signaled that price revision could be on the cards if commodity costs do not ease
out before end of this quarter.
With pre-festive period sales bringing a bonanza and consumer sentiment expected to
pick up momentum in the last quarter of the financial year, car and two-wheeler
makers are confident about the market absorbing the price hike.
Ajay Seth, Chief Financial Officer, Maruti Suzuki India, said, "We believe that
commodities are likely to go up from these levels. We already have seen certain
trends in a few commodities like copper etc., where we have seen a rising trend. In
steel, which is the a major commodity, so far we have been able to maintain price for
the first half but we are likely to see some increase in even steel prices in the second


 "So we will have to see how it is stabilized but if the trend is what it is at this point in
time then the impact could be bit steep and also we have to watch where the steel
prices get settled because that is almost half the commodity that we deal with. But
especially things like lead, copper, zinc everything has gone up from the previous
level. Just to give you an indication, the commodity prices from last year till now have
risen by almost 200 basis points", added Seth.

A price hike is a mixture of a variety of factors such as competitive scenario, discount
levels, inventory levels, commodity price trends and, most importantly, the ability of
the market to absorb the hike. For instance, on the back of a good monsoon rural
demand has picked up for the car market leader Maruti Suzuki to the tune of 22


When asked if Maruti Suzuki will raise prices Seth added, "We will have to internally
review (it). Our first endeavor is always to look at our own internal efficiencies before

taking a call or any increase".
Tata Motors, the country’s fourth largest car maker, too has cautioned of a revisit to
its prices after the end of this quarter. So far the Mumbai-based company has raised
prices of only commercial vehicle to the tune of 1 percent in October.

 "We will have to see what the market trends are after the end of this quarter. It is true
that raw material prices have started to firm up. With the pick-up in rural demand,
Seventh Pay Commission and the general rise in buyer sentiment we are reasonably
confident that the market should be able to absorb price hikes," said a top Tata Motors

For Mahindra & Mahindra the company brought a price hike across tractors and
passenger vehicles once since start of this year. Though it has not committed itself to
another hike as yet company officials have said that a price rise may have to be
carried out in the last quarter.
Pawan Goenka, Managing Director, Mahindra & Mahindra said, "Commodity price
increase has been in the order of 2.5 percent for tractor and 1 percent on automotive.
We have more or less passed on completely for automotive since April. We will be
completing the price hike on tractors in a month or two. Price increase depend on the
dynamic situation. We keep looking at input cost increase and competitive scenario".
Meanwhile home-grown two-wheeler makers Bajaj Auto and TVS Motors, too, have
signaled that a price hike is inevitable in January.

 K Radhakrishnan, President and Chief Executive Officer, TVS Motors, "Some
firmness in commodity prices is there. We might take a price increase in this quarter
and the next quarter".

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Tuesday, 14 November 2017

OPEC, allies unlikely to delay decision on oil cut extension

OPEC and non-OPEC oil producers are moving towards deciding at their Nov. 30
meeting whether to extend a global agreement to curb oil supply further into 2018,
two ministers said on Monday, a quicker time frame than previously indicated.
Reuters reported last month, citing OPEC sources, that producers were leaning
towards prolonging the agreement until the end of 2018, though the decision could be
postponed until early next year depending on the market.
But United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on
Monday he saw no need for the decision to be delayed beyond the Nov. 30 meeting in
Vienna. His Omani counterpart voiced confidence there would be an agreement this
"I don't see the need to delay the decision until March ... We are not going to meet in
that quarter unless it is extraordinary," Mazroui said at an energy industry conference.
If there is a decision to extend the supply cut it will be until the end of 2018, said the
Omani oil minister, Mohammed bin Hamad al-Rumhi, adding that he did not think
producers would agree to deepen the curbs.

Mazroui, whose country next year holds the rotating OPEC presidency, said that while
the UAE backed an extension, he could not say yet whether it would support
maintaining the supply cut until the end of 2018.
In its November oil market report, OPEC increased the forecast for 2018 demand for
its crude by 360,000 bpd from last month's report to 33.42 million bpd.
It also said industrialised countries' September commercial oil inventories, a key
marker OPEC uses to measure market balance, fall by 23.6 million barrels to 2.985
billion barrels.
Stocks were 154 million barrels above the five-year average, the excess that OPEC
aims to eliminate.
OPEC Secretary-General Mohammad Barkindo, speaking at the same event, said
participants in the deal are committed to achieving market stability.
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Wednesday, 8 November 2017

Govt plans phase-2 of digital payment push from January

The government is working on launching the second phase of promoting digital
payments from January, according to an official source.
"A committee under DAVP (Directorate of Advertising and Visual Publicity) is
working on plans to start promotion of digital payments from January onward," an
official source told PTI.
"Information and Broadcasting ministry along with Meity (IT ministry) are involved
in firming up this plan," he said.
The logo and jingle are being designed and the next meeting of the DAVP panel is
expected to be held within a week to submit the plans, he said.
"There is a proposal that every ministry should come up with its plan to promote
digital payments," he added.
Since the demonetisation of high-value currency in November last year, the
government has been pushing for digital payments to move towards a less-cash
economy as well as enhance tax base.

There was a sudden spike in the number of digital transaction with participation from
private sector firms.
As per RBI data, 933 crore electronic transactions have taken place in the country,
amounting to Rs 12.13 lakh crore, between November 2016 and September 2017.
The electronic transaction volume peaked in December 2016 to 95.75 crore. In value
terms, it peaked to Rs 1.49 lakh crore in March 2017. As per the official data, there
was 87.7 crore electronic transaction in September 2017 involving total amount of
over Rs 1.24 lakh crore.
The RBI data shows increasing trend in UPI (unique payment interface) based
The volume of transactions on UPI increased to over 3 crore, involving Rs 5,290
crore, in September this year, from 3 lakh volume and Rs 90 crore in November last
Mobile banking volume reached an all-time high in September to 8.6 crore from 7.23
crore transactions. The value declined marginally to Rs 1.12 lakh crore Rs 1.24 lakh
crore in November 2016.
There was a fluctuating trend in transaction volume and value on pre-paid instruments
like a mobile wallet. The transaction value was an all-time high in September at Rs
2,760 crore. Fluctuation has also been there in internet banking and USSD based
transactions, as per the RBI data.
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Monday, 6 November 2017

Deregistered companies deposited Rs 17,000 cr post note ban: Govt

Cash deposits worth over Rs 17,000 crore were made and later withdrawn post demonetisation by as many as 35,000 companies, which are now deregistered, the government said today.

As it steps up the fight against illicit fund flows, so far names of around 2.24 lakh companies that have been inactive for long have been struck off from the official records and 3.09 lakh directors have been disqualified.

To keep a tab on dummy directors being appointed to the boards of corporates, work is on to put in place a mechanism wherein new applications for directorship would be linked with PAN and Aadhaar numbers of the individual concerned.

Stating that around 2.24 lakh companies have been struck off till date for remaining inactive for two years or more, an official release said restrictions have been imposed on operation of their bank accounts as well as on sale and transfer of their properties.

"Preliminary enquiry on the basis of information received from 56 banks in respect of 35,000 companies involving 58,000 accounts has revealed that an amount of over Rs 17,000 crore was deposited and withdrawn post demonetisation," the release said.

In one case, a company which had a negative opening balance on November 8, 2016, deposited and withdrew Rs 2,484 crore post demonetisation, it added.

Last November, the government cancelled old Rs 500 and Rs 1,000 currency notes as legal tenders as part of larger efforts to fight the black money problem and corruption.

According to the government, one company was having as many as 2,134 accounts.

The information regarding such firms have been shared with enforcement authorities for further action.

With respect to deregistered companies, state governments have been advised to disallow registration of properties of such entities.

The government has initiated steps to disqualify directors who are on the boards of the companies that failed to file annual returns for three financial years -- 2013-14 to 2015-16.

While noting that about 3.09 lakh directors have been affected by the action, the government said preliminary enquiry has shown that over 3,000 disqualified directors are "directors in more than 20 companies each, which is beyond the limit prescribed under the law".

"With a view to checking the problem of dummy directors, action is underway to seed DIN with PAN and Aadhaar at the stage of DIN application through biometric matching for new applications. The same may be extended to legacy data in due course," the release said.

Director Identification Number (DIN) is a unique number assigned to an individual under the Companies Act that allows him or her to serve as a director on the board of a company.

"A high level committee has been constituted for suggesting revamp of the disciplinary systems for chartered accountants, company secretaries and cost accountants.

"Further, steps are underway for setting up National Financial Reporting Authority (NFRA), an independent body, to check financial statements, prescribe accounting standards and take disciplinary action against errant professionals," the release said.

Also, an 'Early Warning System' would be developed under the Serious Fraud Investigation Office (SFIO).

The Prime Minister's Office has also constituted a Special Task Force under the joint chairmanship of Revenue Secretary and Corporate Affairs Secretary to oversee the drive against such defaulting companies. The task force has met five times so far, the release said.
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Thursday, 2 November 2017

Fed leaves rates unchanged ahead of Trump's decision on chairman pick

The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid
US economic growth and a strengthening labour market while downplaying the
impact of recent hurricanes, a sign it is on track to lift borrowing costs again in
The US central bank acknowledged that inflation remained soft, but it did not
downgrade its assessment of inflation expectations. It also noted that the nation’s
unemployment rate had declined further.
“The labor market has continued to strengthen and ... economic activity has been
rising at a solid rate despite hurricane-related disruptions,” the Fed said in a statement
following a two-day policy meeting.

It has raised rates twice this year and currently forecasts one more rate hike by the end
of 2017 as part of a tightening cycle that began in late 2015.

Investors had all but ruled out a move this week and attention has largely been
focused on who will be in charge of monetary policy at the end of Fed Chair Janet
Yellen’s first term in February 2018.
President Donald Trump is set to announce his nomination on Thursday afternoon
with Fed Governor Jerome Powell, a soft-spoken centrist who has supported Yellen’s
gradual approach to raising rates, seen as having a lock on the position.
The encouraging tone of Wednesday’s statement underscores that the central bank is
primed for another nudge upwards in its benchmark lending rate from its current
target range of 1.00 percent to 1.25 percent
Fed policymakers have been buoyed in recent months by a stronger global and
domestic economy and further tightening in the labor market, although they are
divided over the causes and duration of the current weakness in inflation.
The Fed’s preferred inflation measure sits at 1.3 percent after retreating further from
the central bank’s 2 percent target for much of the year.

Nevertheless, Yellen and some other key policymakers have said the Fed still expects
to continue to gradually raise rates given the strength of the overall economy.

In its statement, the Fed reiterated it expects inflation to rise back to its target over the
medium term.

U.S. financial conditions remain loose, strengthening the argument that another rate
rise would not slow the current brisk growth. The government reported last week that
the economy grew at a 3.0 percent annual rate in the third quarter.

A decline in hiring in September also has largely been dismissed as a blip caused by
the temporary displacement of workers due to Hurricanes Harvey and Irma. That jobs
report showed wages growing at an improved pace and the unemployment rate falling
to more than a 16-1/2- year low of 4.2 percent.

A strong rebound in job gains is anticipated when the Labor Department releases its
October nonfarm payrolls report on Friday.
The Fed said on Wednesday the planned reduction of its $4.5 trillion balance sheet
begun in October was proceeding.
There were no dissents in the Fed’s rate decision on Wednesday. The Fed will hold its
final policy meeting of the year on December 12-13.
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Wednesday, 1 November 2017

Top five stocks which could give up to 11% return in November month

Epic Research

The Nifty50 rallied on Monday and came closer to 10,400 level making a new all-time high at 10,384, but pared gains and closed with minor gains at 10,363.

The Nifty50 continued to be moving in an upward momentum on the back of positive global and domestic cues. Buying was noticed across sectors except IT, Metal and Realty which observed some profit booking.

A shooting star pattern is observed on the daily charts which signal exhaustion, as well as loss of breadth in the market. Now, a follow-up buying is needed to nullify, else we may see some profit booking in the near-term since it is a reversal pattern.

A Shooting star is formed in an uptrend with upper shadow at least twice as big as the real body while the color of the body, bullish or bearish, is less important.

The immediate resistance on Nifty is now placed at 10,400 odd levels which is needed to be taken out in the follow-up buying.

The support levels have now shifted to 10300 - 10320 levels. On an immediate basis, support is seen at 10,300 and if we see a breach on Tuesday especially in early hour session then a reversion to 10250 - 10200 is very much on the cards.

The structure of the overall higher top and the higher bottom formation is in place and in the short-term, the trend is intact since we are above short-term moving averages like 20, 50 and so on.

As per OI data, the broader range for the market is placed at 10,200 – 10,400 and the Nifty have multiple resistances levels placed at 10,400 as per indicators study.

A breach of the same would ensure the uptrend albeit we may see a mild profit booking if that doesn't happen in the coming days.

The current buying momentum was largely contributed by some select bluechip stocks like RIL, ITC, ICICI, TATA Motors, Maruti and so on along with banking sector.

It will be crucial to watch these stocks as they will give a further indication to overall momentum. FII activity in last few days has shifted to Index options while some unwinding is observed in Index futures.

Here is a list of top five stocks which could give up to 11% return in the short term:

Delta Corp: Target Rs285| Stop Loss Rs248| Return 10.4%

The stock is looking strong on the daily chart as it closed near its 52-week high level. A higher top and higher bottom formations are in place with the stock going through some minor consolidation.

The consolidation which is observed on the chart is forming almost a flag pattern which is a bullish continuation pattern.

As per the indicator based study, the RSI (74) and CCI (150) is also looking extremely bullish on the daily chart and may continue to be in the same direction with the stock reaching new highs.

We recommend buying for next 2-3 session with a target of 285 with the stop loss of 248.

Mastek: BUY| Target Rs405| Stop Loss Rs338| Return 10%

The stock was up around 9 percent on Monday with heavy volumes. It has also breached its previous 3-months high level.

On higher timeframe, it is coming out of a strong bullish pattern formation, W, and signals the upward move to be in continuation with prices shifting its trading range.

We see more potential in the stock to break its previous 52-weeks high resistances in the coming days. We recommend buying from current level for the target of Rs405 with a stop loss placed at Rs338.

Titan Company: Target Rs640| Stop Loss Rs600| Return 3.5%

The stock has given a breakout on the daily charts as it has come out of long consolidation. The stock has taken support near its 100-days MA signaling a short-term upmove.

A retest of 100-days MA along with a breakout from the consolidation pattern with higher volume indicates that it may see further buying interest.

The overall trading pattern of the stock indicates a channel formation which may be breached given a divergence in price and indicator.

We expect Titan to perform well with an upside to 640 zones while stop-loss can be placed at 600

Bata India: BUY| Target Rs860| Stop Loss Rs800| Return 4.7%

The stock is in a secular bull run with higher top and higher bottom formations. After a recent consolidation and correction, it has given a new breakout on all time frames.

A retest of short-term moving averages along with closing above it indicates that the undertone is very bullish. It has also seen a fresh crossover of 10 and 20-days MA indicating a short-term base formation to be in place.

We expect Bata India to perform well and continue the upmove with the possible target placed at Rs860 and stop-loss placed at Rs800.

UFO Moviez: BUY| Target Rs470| Stop Loss Rs380| Return 11.6%

It has recently breached its downward sloping resistance trendline drawn from peaks of Q1-2016. A lower top-lower bottom formation has been reversed to higher bottom and higher bottom signaling the reversal of intermediate trend to positive as against negative previously.

It has seen a crossover, positive, on daily as well as closed above crucial resistances on the weekly chart. We expect this reversal to be in place and sustain the move. Traders can buy for the target of Rs470 and a stop loss of Rs380.

Disclaimer: The author is CEO, Epic Research. The views and investment tips expressed by investment expert on are his own and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.
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