Ripples Advisory, Daily Equity Report 29-June-2017

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Summary
BUY ADANIENT ABOVE 136 TGT 140 SL 132 BELOW
BUY VEDL ABOVE 242 TGT 250 SL 237 BELOW

Body

MARKET WRAP-UP
The Sensex and Nifty were trading down by nearly 0.4 percent Owing to cutting down of positions by participants ahead of June F&O expiry on Thursday and weak global cues. Weakness in lenders on worries about provisioning for Defaulted loans continued, while the concerns of bloated Valuations following a record-setting rally dampened risk Appetite. Also, investors remained cautious ahead of June derivatives Expiry on Thursday and GST rollout on July 1.

The 30-share BSE index Sensex was down 133.45 points or 0.43 Percent at 30,824.80 and the 50 share NSE index Nifty was Down 24.6points or 0.26 percent at 9,486.80.

Slumping technology stocks after a global cyber attack and Depressed crude oil prices cast a cloud over European shares On Wednesday, sending them to their lowest in two months. The pan-European STOXX 600 hit its lowest since April 24 in Early deals, down 1 percent, in step with euro zone stocks and Blue-chips.

Asian shares slumped on Wednesday after Wall Street was Knocked harder in the wake of a delay to a US healthcare reform But, while the euro rallied after European Central Bank President Mario Draghi hinted that the ECB could trim it Stimulus this year.

MSCI's broadest index of Asia-Pacific shares outside Japan was Down 0.2 percent in early trading, while Japan's Nikkei share Average also slipped 0.2 percent.

MARKET MEASURE
EXCHANGE    ADVANCE      DECLINE           UNCHG.             T/O                     
NSE                         729                   708                    59                  21791.60
  
CHART ANALYSIS
   SCRIP             R2    R1   PIVOT             S1     S2
NIFTY 50     9559      9529        9499         9474    9440               

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