Nifty Daily For 12th June 2013

              Nifty opened on the weak note down 29 points in the support area of 5844-5853 and bounced sharply to the highs of the day around 5868.  The level of 5870 which was previous support has now became resistance. The nifty got sold off from this levels to the lows of 5781. Today's lows are again in the support zone of 200DMA at 5795 and 61.8% Fibonacci retracement at 5770 (From 5477 to 6230). For once nifty bounced from the lows to 5830, but again got sold off in line with the global markets. The Sensex is yet to test it's 200DMA which is around 19109 much below today's low of 19137.  The FIIs are huge sellers in the cash & futures markets.

             Thus I expect nifty to drift lower and test the lower supports. There is strong bearish momentum as every rally is getting sold off and nifty testing lower supports. Nifty can break the 5770 support with a gap down in line with its previous trend. The support for nifty is around 5730-5690-5640 and the resistance is around the levels of 5812-5861-5894.

             Nifty June Future has been trading at 8-9 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 17.71 and for puts were at 20.84. India VIX closed at 19.49. PCR for Nifty based on open interest was at 0.96 and PCR for the day based on volumes was at 0.93 for the market.
               Also Watch out for the IIP data which is expected at 2.7% vs 2.5% (MoM). The data will bring in volatility in the market.

Cash  Market:
FII        2612.89 - 3498.74 = (885.85) Cr.
DII        1754.63- 1441.21 = 313.42 Cr.

FII Derivatives Market:

Column1	BUY	SELL	NET
INDEX FUTURES	2192.02	4050.00	-1857.98
STOCK FUTURES	2072.44	2505.47	-433.03

source:nseindia.com

Stocks in news:

Infosys on rupee
-For every 1 percent change in rupee-dollar rate; impact of 40 basis points on operating profit margin
-To continue with hedging strategy in short-term
-No reason to change hedging strategy at this point

MMTC offer for sale (OFS) on June 13
-Govt to sell 9.3 percent stake
-Base price to be announced post 3.30 pm today
-Govt expects Rs 250-300 crore through the sale
-Government holds 99.33 percent stake in MMTC
**MMTC OFS base price to be nowhere close to current market price

Andhra Pradesh HC approves Mahindra Satyam - Tech Mahindra merger, subject to conditions  Court conditions:
-Pending prosecutions against R Raju and others shall continue
-Pending investigations against R Raju & others shall continue
-Future company to be liable to prosecutions & investigations
-Company shall furnish all information needed for Serious Fraud Investigation Office (SFIO)
-All debts & liabilities of Mahindra Satyam will be as they are
-Approved scheme will no bearing on petition filed against company before Company Law Board (CLB) in 2009

Mahindra Satyam 's chairman Vineet Nayyar says : CNBC-TV18 Exclusive
- Expect merger process to complete in 8 weeks
-Greater synergy will come in for customer post merger
-There will be no reduction in employees post merger
-All pending cases opposing merger have been dismissed
-Minority shareholder case has been dismissed
-RoCs of Maharashtra, AP need to give approval

Oil Minister 
-India in talks to tie up 20 mtpa of LNG supplies
-Landed cost of LNG in India seen at USD 10-$12/mbtu
-LNG pricing fast turning into an issue                           

Other stocks and sectors that are in news today:- Fortis sells stake in Vietnam arm for USD 80 million
-GoM meet on BSNL, MTNL revival strategy today
- Infosys on global hunt for CEO, hires Egon Zehnder to identify and shortlist candidates
- Pidilite Industries says company to explore inducting a strategic partner for synthetic Elastomer project
-MP govt mulls benefit-sharing levy for captive coal miners BS ( Reliance Power , Essar could be hit)
- Pennar Industries buy back at maximum Rs 40/share
-AV Brila, Coal India eye Rio Tinto assets Reports
- Unichem Lab - CCI gives green signal to Mylan-Unichem deal
-Agro Tech Foods drops plan to buyback shares
- Winsome Diamonds & Jewellery promoters to infuse USD 50 million into Winsome
- Hanung Toys board to consider stock split on June 12
-SAT to hear Gillette -SEBI case; Gillette had appealed against SEBI's rejection of the proposal for change in shareholding structure
-SEZ board to meet today to consider denotification of RIL SEZ
- IL&FS Engineering gets order worth Rs 266 crore for Gurgoan metro rail viaduct construction

TRAI -Sets June 25 as deadline for receipt of cable TV user data
-See user-cable operator collusion in user data non-submission

 source:moneycontrol.com

Corporate Action:

Ex-Date	Company	Industry	Purpose
12-Jun-13	Jindal South West Holdings Limited	Finance	Annual General Meeting
12-Jun-13	Value Industries Limited	Consumer Durables	Annual General Meeting
12-Jun-13	ING Vysya Bank Limited	Banks	Annual General Meeting/Dividend Rs 5.50 Per Share
12-Jun-13	Hindustan Construction Company Limited	Construction	Annual General Meeting

Stocks in ban Period:

HDIL


Todays trades:

11/06/2013
script	buy/sell	entry	target	stoploss	intraday/Positonal	reached
nifty fut	sell	5798	5768	5812	intraday	5751
bajaj-auto	buy	1733.55	1741.55	1730	intraday	1744
hcltech	sell	762.9	758.9	765	intraday	sl triggered
bhartiartl	sell	281.55	279.55	282.25	intraday	276.75
cipla	sell	385.25	283.55	386.05	intraday	exit @ 384.05 due to big buy quantity of 40-50k