For the day nifty had been pretty volatile, giving both buy and sell side traders ample opportunities. During first half nifty tested the previous lows of 5566 when got sold off from the resistance of 5614. It did not break the lows, which in it self was indication of the positive momentum building up in the markets. Nifty moved swiftly above Monday's high 5625, but the up move was restricted to 5667 resistance. The last half an hour sell off took nifty again below 5600, which is creates doubt about a sustained up move.
In order to have a sustained up move nifty now has to trade above 5655 levels. Nifty is falling in a channel for the entire month. The upper trend line is around the levels of 5750-5720.
The support for the nifty is at 5600-5575-5535 and resistance is at 5660-5700-5740 levels. Nifty July Future has been trading at 10-11 points premium to the spot. The implied volatility on the Nifty
July Options of ATM strike calls were at 18.31 and for puts were at
22.75. India VIX closed at 21.14. PCR for Nifty based on open interest
was at 0.88 and PCR for the day based on volumes was at 0.95 for the
market.
CASH MARKET:
In order to have a sustained up move nifty now has to trade above 5655 levels. Nifty is falling in a channel for the entire month. The upper trend line is around the levels of 5750-5720.
CASH MARKET:
FII 2519.4 - 3805.26 = (1285.86) Cr.
DII 1993.03 - 1168.7 = 824.36 Cr.
FII DERIVATIVES MARKET:
Stocks in news: ING Vysya Bank QIP -To issue 1.44 crore shares at price range of Rs 606-612/share -To raise approximately Rs 880 crore -To issues 1.56 crore shares at Rs 611.11 or higher on preferential basis to parent company to raise Rs 950 crore Tamil Nadu CM writes to PM on Neyveli Lignite (NLC) divestment again-Trade unions may go on indefinite strike from July 3 -Unrest may spread and continue for a long time -Unrest may lead to shutdown of Neyveli power plants -Expect GoI to reconsider decision on divestment -Give GOI's 5 percent stake to state's public sector undertakings -Company to comply with minimum public shareholding norms if stake given to TN public companies -TN public sector undertakings eligible to buy company's under IPP -SEBI may be asked to work out special arrangement with TN companies -GOI's 5 percent stake can be given to TIDCO, SIPCOT & TIIC Alert: -TIDCO is Tamil Nadu industrial development corporation -SIPCOT is State industries promotion corp of TN -TIIC is Tamil Nadu industrial investment corporation Bajaj Auto says -Received notice from workmen's union of Chakan plant proposing stoppage of work from June 28 -Union claims Management didn’t accept demand of giving option to subscribe to 500 shares at discounted price of Re 1/share -Workmen have, however, stopped coming to plant from June 25, 2013 -Workmen have not given any reason of not coming to work Bajaj Auto Union Leader says -Strike over wage, HR issues -1,000 contract workers demand to be made permanent -Bajaj Auto wrote to workers refusing to allot equity shares -Workers want a pay hike of Rs 5,000 to Rs 25,000/month TRAI sources say: cogencis -Extended deadline for receipt of cable TV user data -Extended deadline for cable TV user data till July 10 -Earlier deadline to give cable TV user data expired yesterday -Cable companies asked TRAI to extend deadline to give user data Shree Ganesh Jewellery -Board to mull issue of equity shares on preferential basis on June 27 -May issue of equity shares to non promoters/foreign investors Ex-Dividend - Bank of Baroda AGM Rs 21.50/share - CMC AGM Rs 17.5/share - Union Bank of India AGM Rs 8/share - Emami Rs 8/share - Gruh Finance Rs 2.5/share - Karnataka Bank Rs 4/share Other stocks and sectors that are in news today:-Spectrum empowered group of ministers (EGoM) likely to meet today - Reliance Capital to spin off retail lending and sell minor stakes to Sumitomo and Nippon ET -Civil aviation ministry objects to large presence of foreign nationals and nominees on Jet Airways board ET - NTPC and Coal India (CIL) to sign fuel pact, others to follow soon -Sanofi, Novartis and GSK in race to buy Elder 's formulation biz ET -SEBI likely to challenge SAT ruling on Marg and Khaitan Electricals open offers ET (SAT allowed both companies to withdraw open offers) -Cabinet Committee on Economic Affairs (CCEA) likely to take up gas pricing and coal regulator issue tomorrow: Sources - Aditya Birla Nuvo to apply to RBI for banking licence -Mines Minister says have sought law ministry opinion on Hindustan Zinc , Balco stake sale - Emami Bonus issue in ratio of 1:2 SEBI board clears new buyback norms-50 percent of earmarked funds for buyback to be utilised by company -25 percent of earmarked funds for buyback to be kept in escrow -Tender offer mandatory if subscription >15 percent of net worth -SEBI board okays clubbing FIIs, QFIs, sub accounts in new investment class -Merged investor class will be foreign portfolio investor -Foreign portfolio investor limit capped at 10 percent of equity -SEBI board to seek fin min nod to implement changes Source:moneycontrol.com Corporate Actions:
Stocks in ban period:
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