04.07.

2018

Market commentary
Nifty 50 on Wednesday closed above 10700 level by gaining 42 points
and BSE Sensex closed at 2 week high of 35645 by gaining 266 points. It is because
of the better than expected macro data and cabinet’s approval to raise MSP for
kharif crops. Power Grid, Sun Pharma, HDFC Ltd, RIL, HUL and HDFC Bank, rose up
to 1.11% while Vedanta, ONGC, Tata Motors, Adani Ports, SBI, Yes Bank, Tata
Steel, TCS, Bharti Airtel, Hero MotoCorp, Infosys, Asian Paints, ITC, L&T, ICICI
Bank, Wipro and Coal India were among the top index losers.
Tomorrow the Nifty may go up because of the positive macro data.

Nifty Daily Chart

R2 R1 Pivot S1 S2
Nifty
10893 10829 10712 10648 10531
Stock to Watch for Thursday
Bajaj Auto Ltd
Daily Chart

Technical Analysis
The stock Bajaj Auto Ltd has formed the double bottom pattern on
daily time frame. The stock is also on an uptrend on weekly and monthly time
frame. It made a high of 3241 on Feb 02, 2018 and a low of 2728 on Aug 24, 2017.
The parabolic SAR shows that the dots are below the price level which suggests
buying. The relative strength index also have the strength above 50 which also
indicates buying.

Buy Bajaj Auto Ltd. above 2990 with the target around 3025-3035 and
the stop loss at 2975.65.
Market Highlights

 Following a marginal contraction in May, the services sector returned to

growth during June and registered the fastest rate of expansion in a year,
supported by robust increase in new business orders, said a monthly
survey. The seasonally adjusted Nikkei India Services Business Activity
Index rose from 49.6 in May to 52.6, registering the fastest growth since
June 2017. In PMI parlance, a print above 50 means expansion, while a
score below that denotes contraction. "The service economy returned to
expansion territory in June. Encouragingly, the latest performance was
the strongest seen in a year, against a backdrop of improving demand
conditions."
 Korean carmaker Hyundai, the second-biggest player in the Indian market,
will drive into a $100-million (Rs 6.9 billion) corporate office in Gurgaon.
The two-acre office complex on the outskirts of Delhi is under
construction and will be home to about eight hundred company
executives from early 2020. The carmaker, which has close to a sixteen
per cent share in the domestic market, has been operating from rented
premises all this while. It currently operates from a 60,000-sq ft office in
Delhi's Jasola area spread over three floors.
 Underlining its capability of building complex warships and delivering
them faster than other private shipyards, and even the
four defence public sector undertaking (DPSU) yards, Larsen & Toubro
Shipbuilding on Tuesday laid the keels of two "new generation offshore
patrol vessels" (NG-OPVs) ahead of its contracted schedule. This is part of
an Indian Coast Guard (ICG) order for seven OPVs that L&T won in 2015. It
stipulates delivery between 2018-2021, but L&T is determined to deliver
all of them early, breaking with defence shipyards' long tradition of late
delivery.

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

Category Date Buy Value Sell Value Net Value
FII/FPI 04-Jul-2018 3903.2 4187.78 -284.58
DII trading activity in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 04-Jul-2018 3036.89 2425.88 611.01
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