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NIFTY OUTLOOK
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REPORT
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05 June 2017
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 05th June 2017

NIFTY

NIFTY SPOT : R1:9675 R2:9690 R3:9710

PIVOT : 9655 S1:9602 S2:9574 S3:9553

NIFTY DAILY CHART

NIFTY OUTLOOK
Nifty is likely to open in a positive note but traders are advised to look out for the market to get stable before 10
am. Ahead of global cues, we are expecting nifty to visit a correction in todays trading session. Intraday traders
are advised to adopt sell on rise strategy.

Strategy: Short Nifty around 9665 with a stop loss of 9700 for the target of 9600

Name Current Value Change % Chg Open High Low

FTSE 100 (Jun 2) 7,547.63 3.86 0.05 7,543.77 7,598.99 7,539.96
CAC 40 (Jun 2) 5,343.41 24.74 0.46 5,347.86 5,372.97 5,328.19
DAX (Jun 2) 12,822.94 158.02 1.23 12,735.00 12,878.59 12,734.78

Nikkei 225 (Jun 5) 20,203.60 26.32 0.13 20,135.42 20,211.15 20,104.13

Straits Times (Jun
3,238.35 -1.66 -0.05 3,242.35 3,244.98 3,229.26
5)
Hang Seng (Jun 5) 25,860.17 -63.88 -0.25 25,976.36 25,998.66 25,843.51

Taiwan Weighted
10,195.97 37.82 0.37 10,164.89 10,199.61 10,164.89
(Jun 5)

SGX Nifty (Jun 5) 9,661.50 16 0.17 9,636.00 9,685.00 9,636.00

WWW.EQUITYRESEARCHLAB.COM
 05th June 2017

CORPORATE NEWS

FM Arun Jaitley says

-GST on beedis fixed at 28 percent without cess
-GST council approved return filing & transition rules
-Council to form committee to entertain any complaints on anti-profiteering
-Committee to have officers of revenue department of centre & some state officers
-GSTN expressed confidence it is fully ready for July 1 rollout
-GST on biscuits fixed at 18 percent
-GST on agri machinery fixed at 5 percent
-GST on jute fixed at 0 percent
-GST on footwear below Rs 500 fixed at 5 percent & other footwear at 18 percent
-GST on apparel below Rs 1000 fixed at 5 percent
-Fixed GST on gold & gold jewellery at 3 percent
-A nominal rate of 0.25 percent imposed on rough diamonds
-Input credit allowed but overflow will not; so max refund will be 5 percent
-Natural yarn to be taxed at 5 percent, manmade yarn at 18 percent
-GST on fabric of all categories at 5 percent
-Decided on categorisation of handmade matches under pooja items
-Packaged food items sold under registered trademarks to be taxed at 5 percent
-Canteen stores department sell products that attract excise but not state taxes
-Canteen stores department to sell goods at normal price, get 50 percent of GST refunded
-Canteen stores department to get 50 percent of GST refunded by Centre & States

Godrej Properties
-Will develop a new housing project at Sohna in NCR
-Sohna project will offer 1.57 lakh square metre of saleable area

Wipro
-Keen to start up big things, deploys USD 24.5 million
-Azim Premjis salary drops 63 percent in FY17

Lupin - US FDA observations

-Lupin Indore facility failed to review discrepancies in products
-Lupin Indore operations did not have written norms for manufacturing process

Alert: US FDA inspected Lupins Indore unit on May 8-19

Satin Credit Care: Sources
-Satin Credit Care raises Rs 100 crore via commercial paper issue from M&M Financial
-Satin Credit Care raises Rs 100 crore at 10 percent per annum for 3-6 months

Titan CFO S Subramaniam says

-3 percent GST rate on gold a very welcome move, step in the right direction
-3 percent rate will mean higher collections for government as demand will not falter
-Expect gems & jewellery industry to be ready for July 1 rollout of GST
-Need some clarity on excise-free zones for the watches business

WWW.EQUITYRESEARCHLAB.COM
 05th June 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Manish Bimal Sr. Research Analyst Manish.bimal@equityresearchlab.co.in

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