Nifty Weekly for 05th - 8th November 2013

After a long wait of more than 5 years, finally the market have registered an all time high of 21321.53 by sensex but nifty is yet to break 6357. Both Sensex and Nifty were in correction mode for more than 2 years now, which finally seems to have ended this year. Hopefully now we are ready for the next move forward for a minimum target of Sensex 24434 and Nifty 7355, provided Sensex stays above 18827 and Nifty above 5648. The journey upwards will definitely be challenging for the bulls but more importantly the upwards journey seems to have begun at last. Sensex has completed a Bullish Saucer formation starting from November 2010 to October 2013, even as the Nifty is on the verge of completing this Bullish Pattern.  The target is around 24434 for the Sensex and 7355 for the Nifty and on the higher side Sensex 26554 and Nifty 8000. The target is likely to be achieved in the next 18 months.
On a cautionary note, the bulls need to maintain and stay above Sensex 18519 and Nifty 5471 for the long term Uptrend to continue. In case the above levels are breached, then the long trend will be reversed and then the Sensex will move lower to the support zone around 15135 and Nifty 4531. The Muhurat trading session too saw indices adding minor gains. Nifty is trading near our target/resistance level of 6350-6360. One more push higher from current levels would position the momentum readings in overbought territory and hence fresh longs could be fraught with unfavourable risk reward ratio. Traders are advised to continue with their existing long positions and tighten their risk management part. The major support for Nifty is placed around 6200 and then 6070. The intraday supports in Nifty are placed around 6272 and 6235, whereas resistances are seen around 6360 and 6420.

Nifty Daily For 01st November 2013

As expected, the key benchmarks powered their way higher to close at the highs of the day. The momentum increased during last hour of trade with benchmarks fast approaching their all-time high levels. Nifty is nearing our target/resistance level of 6350-6360 and with momentum readings approaching their overbought zones on lower timeframe charts; fresh longs could be fraught with unfavorable risk reward ratio. Traders should continue with their existing long positions and be vigilant of the market moves, as profit booking could emerge near these crucial levels. 

The major support for Nifty is placed around 6070. The intraday supports in Nifty are placed around 6250 and 6215, whereas resistances are seen around 6330 and 6360. Nifty November Future has been trading at 32-33 points premium to the spot. The implied volatility on the Nifty November Options of ATM strike calls were at 15.85 and for puts were at 18.24. India VIX closed at 18.39. PCR for Nifty based on open interest was at 1.50 and PCR for the day based on volumes was at 0.93 for the market.

 

Cash Market:

FII                  5667.87 - 3792 = 1875.87 Cr.

DII                 1207.4 - 2041.19 = (833.79) Cr.

FII Derivatives Market:

In Cr.	Buy	Sell	Net
INDEX FUTURES	7479.86	6989.44	490.42
INDEX OPTIONS	23733.51	25792.27	-2058.76
STOCK FUTURES	6776.33	6498.90	277.44
STOCK OPTIONS	645.56	503.04	142.51

Corporate Action:

Ex-Date	Company	Purpose
01-Nov-13	R Systems International Limited	2nd Interim Dividend Rs.8.50 Per Share (Purpose Revised)
01-Nov-13	Nestle India Limited	2nd Interim Dividend Rs.18/- Per Share (Purpose Revised)
01-Nov-13	Marico Limited	Scheme Of Arrangement And First Interim Dividend

Stocks In News:**

 Bank of Baroda net dips 10% on bad-loan provisioning
More money set aside towards bad loans and higher operating expenses weighed on Bank of Baroda’s bottom line in the July-September 2013 quarter. The sector bank reported a 10% drop in net profit at Rs 1,168 cr in the reporting period against Rs 1,301 cr in the year ago period. Growth in net interest income (the difference between interest earned and expended) was almost flat at Rs 2,895 cr (Rs 2,862 cr in the year ago period). The bank set aside Rs 838 cr (Rs 725 cr) towards bad loans. Further, it set aside more (Rs 89 cr vs Rs 41 cr in the year-ago period) by way of provision for standard advances. Operating expenses, including employee costs, rose 33% at Rs 1,744 cr (Rs 1,308 cr). During the quarter, bad loans (in gross terms) increased by Rs 1,125 cr to Rs 10,888 cr as on September-end 2013. Restructured loans increased by Rs 1,485 cr in the reporting quarter to Rs 22,155 cr.

TI standalone net falls 14%
Tube Investments of India Ltd has reported a 14% drop in standalone net profit for the quarter ended September 30, compared with the corresponding quarter last year. In the consolidated performance of the Murugappa Group company, the financial services and insurance businesses contributed to a 10% growth in net profit. The net profit was Rs 31.96 cr (Rs 37.19 cr) on a total income of Rs 864.07 cr (Rs 929.42
cr). The bicycle division registered a 15% drop in volumes. Revenue was Rs 325 cr (Rs 377 cr).

Mahindra sells over 6.5 lakh Boleros
Mahindra & Mahindra Ltd (M&M) has sold more than 6.5 lakh units of its flagship sports utility vehicle (SUV) Bolero in India. The entry-level SUV, launched in 2000, has been the highest selling for the past seven years. M&M had sold 1.18 lakh vehicles in the financial year 2013, a 17% growth from about 1 lakh units sold during the previous fiscal.

EIH posts Rs 7 cr profit in Q2
EIH Ltd reported a net profit of Rs 7.03 cr in the second quarter to September 30, 2013, against a net loss of Rs 18.30 cr. The company said that it made a profit of Rs 11.34 cr on sale of stake in its subsidiary Mercury Car Rentals Ltd. As a result of this stake sale, MCRL ceased to be its subsidiary and EIH’s stake came down to 40%.

NBCC net up 22% at Rs 60.05 cr in Q2
State-run National Buildings Construction Corporation Ltd (NBCC) posted a 22% increase in net profit at Rs 60.05 cr for the second quarter ended on September 30, on account of higher income. The company had clocked a net profit of Rs 49.20 cr in the same quarter last year. Total income during July-September period increased to Rs 865.82 cr from Rs 649.84 cr in the same period last year.

Future Retail Q3 net loss at Rs 8 cr
Future Retail Ltd reported net loss at Rs 8 cr for the third quarter ended September 30, 2013. The company had posted net profit of Rs 66 cr in the same quarter last year. The financial numbers are not comparable with September 2012 quarter due to the demerger of the company’s lifestyle fashion businesses that included Central, Brand Factory, Pantaloons, among others. During the quarter, Future Retail’s net sales stood at Rs 2,263 cr. Net sales in the same period last year were at Rs 3,021 cr.

Titan Q2 net up 3.59% at Rs 186.65 cr
Titan Company Ltd reported a 3.59% increase in standalone net profit at Rs 186.65 cr for the second quarter ended September 30, 2013-14. The company had reported net profit of Rs 180.17 cr for the July-September quarter of last fiscal, 2012-13. Titan’s net sales were at Rs 2,290.02 cr during Q2 2013-14, an increase of 1.40% as against Rs 2,258.29 cr in the year-ago period.

Adani Enterprises reports Rs 417 cr net loss in Q2
Hit hard by forex losses and jump in finance costs, Adani Enterprises reported a consolidated net loss of Rs 416.95 cr for its second quarter ended September 30, 2013. The flagship firm of the Adani group had reported a net profit of Rs 320.21 cr in the corresponding quarter of the previous fiscal. On a standalone basis even, the company posted a net loss of Rs 102.25 cr in the last quarter as against a net profit of Rs 141.95 cr reported in the Q2FY13. Consolidated net sales of Adani Enterprises, however, rose by 32% to Rs 13,548.31 cr in the second quarter, as its trading and power businesses reported strong revenue growth.

Dr Reddy’s peaks in Q2 as net profit surges 76% to Rs 690 cr
Aided by high-margin product launches in North America and strong growth in emerging markets, Dr Reddy’s Laboratories Ltd recorded its highest sales and profit numbers for the July-September quarter. The company’s consolidated net profit increased 76% to Rs 690 cr in the second quarter, from Rs 392 cr a year ago. Revenue went up 17% to Rs 3,357 cr. Its earnings per share stood at Rs 40.47 against Rs

Stocks in Ban Period:

NIL

Source:**economictimes.com , nseindia.com

Nifty Daily For 31st october 2013

Nifty Remained sideways after the 120 points rally on tuesday. The markets made new 35 month high of 6269 and held the psychological level of 6250. The markets in good on the back of diwali are poised to make new high around 6295-6330 levels. The FED once gain refused to start tapering its bond buying programme. This is big positive for EMs.

The support for nifty is at 6230-6150-6100 and the resistance lies at 6270-6330. Nifty November Future has been trading at 49-50 points premium to the spot. The implied volatility on the Nifty November Options of ATM strike calls were at 18.55 and for puts were at 20.5. India VIX closed at 19.53. PCR for Nifty based on open interest was at 1.72 and PCR for the day based on volumes was at 1.22 for the market.

Cash Market:

FII                  2910.2 - 1893.43 = 1016.77 Cr.

DII                  907.29 - 1457.89 = (550.6) Cr.

FII Derivatives Market:

In Cr.	Buy	Sell	Net
INDEX FUTURES	4948.95	4754.13	194.82
INDEX OPTIONS	24328.49	23797.82	530.67
STOCK FUTURES	9740.28	9856.11	-115.83
STOCK OPTIONS	980.57	974.76	5.80

Corporate Action:

Ex-Date	Company	Purpose
31-Oct-13	Motilal Oswal Financial Services Limited	Interim Dividend Re 1 Per Share (Purpose Revised)
31-Oct-13	K.P.R. Mill Limited	Interim Dividend Rs.4/- Per Share
31-Oct-13	Gujarat Ambuja Exports Limited	Interim Dividend Re.0.70 Per Share (Purpose Revised)
31-Oct-13	Sundaram Clayton Limited	Interim Dividend Rs.9/- Per Share (Purpose Revised)
31-Oct-13	Indiabulls Securities Limited	Interim Dividend Re 1/- Per Share
31-Oct-13	Hindustan Unilever Limited	Interim Dividend Rs.5.50 Per Share (Purpose Revised)
31-Oct-13	GATI Limited	Annual General Meeting / Final Dividend - Re 0.60/- Per Share
31-Oct-13	IPCA Laboratories Limited	Interim Dividend Rs.2.50 Per Share (Purpose Revised)
31-Oct-13	Gillette India Limited	Annual General Meeting / Dividend - Rs 15/- Per Share
31-Oct-13	IFCI Limited	Annual General Meeting/Dividend Re 1/- Per Share
31-Oct-13	Indiabulls Housing Finance Limited	2nd Interim Dividend Rs.7/- Per Share
31-Oct-13	Indiabulls Real Estate Limited	Interim Dividend - Re.1/- Per Share
31-Oct-13	Foseco India Limited	Interim Dividend- Rs 4.50/- Per Share

Stocks In News:**

 Infosys Ltd: Infosys said it agreed to pay $34 million to settled investigations by various United States government departments into its alleged misuse of visas in that country.

SBI: The board of State Bank of India ( SBI) approved an infusion of Rs. 2,000 crore from the government to raise its capital base. The funds will be infused by allotting preferential equity shares to the government, India's largest bank said in a filing to the BSE.

EIH Ltd: Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, reported a net profit of Rs 7.03 crore for the quarter ended September 30, 2013 on the back of improved sales and profit on sale of a part of shareholding in Mercury Car Rentals.

Novartis India Ltd: Drug firm reported 15.78 per cent rise in net profit to Rs 45.55 crore for the quarter ended September 30, on the back of a favourable ruling in a dispute that resulted in higher tax credit.

Torrent Pharmaceuticals Ltd: The company posted 4.62 per cent increase in consolidated net profit at Rs 113 crore for the second quarter ended September 30, 2013.

Trent Ltd: The Tata group firm reported 73.52 per cent jump in standalone net profit at Rs 15.6 crore for the second quarter ended September 30 on account of better sales.

Adani Enterprises Ltd: The company is expected to report 30 per cent YoY drop in the adjusted net profit to Rs 132 crore as compared to Rs 190 cr reported in the year-ago period, according to an ET Now Poll.

Puravankara Projects: The realty firm reported 8 per cent fall in consolidated net profit at Rs 46 crore for second quarter of this fiscal. It posted a net profit of Rs 50.2 crore in the year-ago period, Bangalore-based firm said in a statement.

TTML: Tata Teleservices (Maharashtra) Ltd narrowed the loss to Rs 165.23 crore during the second quarter ended September, 2013-14. It had posted a loss of Rs 183.71 crore for the July- September quarter of the previous fiscal, 2012-13.

LIC Housing Finance Ltd: The company reported 28 per cent rise in net profit at Rs 310.07 crore for the second quarter ended September 30, driven by an equal quantum of increase in interest income and better margin.

Oberoi Realty Ltd: The realty firm reported 48 per cent dip in consolidated net profit at Rs 64.14 crore for the July-September quarter of 2013-14 fiscal on lower sales.

Stocks in Ban Period:

NIL

Source:**economictimes.com , nseindia.com

Nifty Daily for 30th October 2013

After about a week of sideways corrective action, Nifty surged higher and ended the session with a big body (powerful) bullish candle. Nifty bounced back higher from the rising trendline support area drawn in Nifty spot by joining the corrective lows of last couple of month’s up move. Nifty also has registered a higher bottom as compared to the 6030 support area. A breakout above the 6250 resistance area could lead to increase in momentum which could lead Nifty towards our long standing target area of 6350-6360 with stop loss of 6070. 
The intra day supports in Nifty are placed around 6160 and 6115, whereas resistances are seen around 6285 and 6350. Nifty November Future has been trading at 57-58 points premium to the spot. The implied volatility on the Nifty November Options of ATM strike calls were at 18.90 and for puts were at 18.37. India VIX closed at 19.76. PCR for Nifty based on open interest was at 1.30 and PCR for the day based on volumes was at 1.13 for the market. 

Cash Market:

FII      2838.12 - 1735.08  = 1103.04 Cr.

DII      991.53 - 1885.57 = (894.04) Cr.

FII Derivatives Market:

In Cr.	Buy	Sell	Net
INDEX FUTURES	8681.71	7595.36	1086.35
INDEX OPTIONS	37000.19	38131.73	-1131.54
STOCK FUTURES	10331.60	10496.75	-165.15
STOCK OPTIONS	1827.71	1854.12	-26.41

Corporate Action:

Ex-Date	Company	Purpose
30-Oct-13	Rallis India Limited	Interim Dividend - Re 1/- Per Share
30-Oct-13	Aro Granite Industries Limited	Bonus 1 : 2
30-Oct-13	Info Edge (India) Limited	Interim Dividend - Re 1/- Per Share
30-Oct-13	TVS Motor Company Limited	Interim Dividend Re.0.65 Per Share (Purpose Revised)

Stocks In News:**

 NTPC Ltd: NTPC, the country's largest power producer, posted nearly 21 per cent drop in its net profit at Rs 2,492 crore for the quarter ended September 30.

Ranbaxy Laboratories Ltd: Drug major Ranbaxy Laboratories posted a consolidated net loss of Rs 454.16 crore for the third quarter ended September 30, 2013.

Bharti Airtel Ltd: The telecom operator is expected to report 12.84 per cent sequential rise in its net profit number to Rs 777.5 crore for the quarter ended September 30, as compared to Rs 689 crore reported in the previous quarter, according to ET Now Poll.

Reliance Industries Ltd: After the petroleum ministry's order to Mukesh Ambani-led Reliance Industries to relinquish five gas discoveries with immediate effect, both the company and industry sources have said the decision would hardly affect RIL's KG-D6 prospects, even as it worries the industry.

Tata Steel Ltd: Europe's second-largest steel producer said it could cut around 500 jobs under plans to restructure the part of its British business that supplies the construction and engineering industries.

Shriram Transport Finance Ltd: The company reported a marginal decline in its consolidated net profits at Rs 351.93 crore for the second quarter of this fiscal.

Sun Pharma Advanced Research Company Ltd: SPARC reported a net loss of Rs 7.65 crore for the second quarter ended September 30, 2013.

Alstom India Ltd: The equipment maker said its net profit nearly halved to Rs 27.84 crore for the quarter ended September 30, 2013.

Supreme Industries Ltd: The plastic products manufacturer reported 10.37 per cent increase in consolidated net profit at Rs 43 crore for in the quarter ended September 30, 2013.

Lupin Ltd: According to the ET Now poll, the pharmaceutical is likely to report a net profit of Rs 377 crore for the quarter against a net profit of Rs 280 crore in the corresponding quarter last fiscal.

DLF Ltd: According to ET Now poll estimates, the realty major is likely to report a net profit of Rs 157 crore, for the quarter ended September 2013, up 14 per cent, as compared to a net profit of Rs 138 crore in the corresponding quarter last fiscal.

Infosys Ltd: The US Justice department is expected to resolve on Wednesday a visa fraud investigation against Infosys Ltd, according to a media report.

Stocks in Ban Period:

NIL

Source:**economictimes.com , nseindia.com