Epic Research Special Stock Market Report 15 November 2017


Global markets at a glance
US stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors. The Dow Jones 
 ndustrial Average rose 17.49 points, or 0.07 percent, to 23,439.7, the S&P 500 gained 2.54 points, or 0.10 percent, to 2,584.84 and the Nasdaq Composite added 6.66 points, or 0.1 percent, to 6,757.60, Reuters reported.Asian stocks slipped on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.

MACRO NEW
The Nifty50 futures on the Singapore Stock Exchange were trading 31.5 points lower at 10196 indicating a negative opening for the domestic market.
Technology spending in India is expected to rise 9.2 percent to reach USD 87.1 billion in 2018, led by spending on expensive devices such as the iPhoneX
and laptop upgrades, which continue to drive the majority of overall IT spending in India, according to research firm Gartner.Software spending is expected
to grow 17.9 percent in this year, and it will grow another 15.3 percent in 2018 to reach USD 5.7 billion.

STOCKS IN NEWS
NBCC — Lenders ask NBCC to develop defaulters’ land .
HCL Technologies signed a 5-year IT infrastructure services contract with Jardine Lloyd Thompson .

COMMODITY ROUNDUP
Gold prices drifted higher at the start of a busy week on Monday, as investors looked ahead to key U.S. economic reports to gauge how it will impact the Federal Reserve’s view on monetary policy in the months ahead.Comex gold futures inched up around $3.00, or 0.2%, to $1,277.04 a troy ounce by 3:00AM ET (0800GMT).

TRADING STRATEGY:
BUY GOLD DEC ABOVE 29700 TGT 29770 29870 SL BELOW 29630
SELL GOLD DEC BELOW 29500 TGT 29430 29330 SL ABOVE 29570

CURRENCY MARKET UPDATE
The euro drifted lower on Monday, consolidating below a one-week high tested in the previous session as investors moved to the sidelines before a central bank conference on Tuesday where central bankers may share their
thoughts on the global economy.The dollar edged higher against other major currencies on Monday, as it mildly recovered from losses posted the previous week due to mounting concerns over the fate of a highly-anticipated U.S. tax reform.

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