Wow!! what an expiry! I was expecting a quite expiry but it was a blast!! Nifty had a spectacular gap up opening of 60 points at 5649 on strong global ques. This strong opening above the upper trend line of smaller channel acted as breakout. Nifty tested the levels of 5660 and reversed to fill up the gap left in the morning. Once it tested the support at previous day's high at 5630, it bounced back sharply to the high of 5699. Again the 5700 acted as strong resistance and markets closed at sub 5700 levels.
The market has given break of inner small channel which has target of 5770. However the upper trend line resistance is at 5710. There is strong resistance in the area of 5710-5715 as the upper trendline and 50% of fall from 5863 to 5566 lies in this area.
The Nifty 5600 call has seen a massive writing today, indicating a short term bottom in place. The nifty can move higher to the levels of 5780-5820. The support for nifty is at 5640-5590-5560 and the resistance lies at 5710-5745-5780. Nifty July Future has been trading at 1-2 points discount to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.20 and for puts were at 20.78. India VIX closed at 18.85. PCR for Nifty based on open interest was at 0.85 and PCR for the day based on volumes was at 0.91 for the market.
CASH MARKET:
FII 5110.77 - 6154.04 = (1043.27) Cr.
DII 1290.11 - 931.73 = 358.38 Cr
FII DERIVATIVES ACTION:
CORPORATE ACTIONS:
Stocks In News:
Cabinet Committee on Economic Affairs (CCEA)-Okays Rangarajan formula for gas pricing, to be valid for 5 years
-Gas Prices to rise to USD 8.4/mmbtu from April 1, 2014
-Gas prices to be revised quarterly April 1, 2014 onwards
Alert: Gas price hike impact: Average power cost to go up by 16 paise/kwh
Alert: Gas price hike impact: Fuel cost of gas based power plants to go up by 100 percent
Alert: Gas price hike impact: Move to result in hike in power tariff, urea and CNG cost
Oil minister Veerappa Moily to CNBC-TV18:
-Rangarajan recommendations have been accepted by CCEA
-CCEA has decided on quarterly revision of gas prices
-'FM and I will explain CCEA decisions on gas price on Friday'
On CNBC-TV18 Managing director of Oil & Gas research at Macquarie group, Jal Irani says:-The gas price hike in line with expectations
-Govt could gain USD 69 billion from gas price hike
-May see investment of USD 100 billion in exploration
- Reliance Industries ' (RIL) EPS would go up by 7-8 percent
-EPS of ONGC , Oil India (OIL) to go up by 35-40 percent
-ONGC and Oil India will be largest benefactors
On CNBC-TV18 Oil India says:
-'The gas price hike slightly more than we expected'
-Move will encourage company to take more aggressive exploration
-Have lined up close to USD 4 billion in investment in 12th plan
On CNBC-TV18 RS Sharma says:
-It could be the big turnaround for investment sentiment in India
** Gas price hike big hit for power, fertiliser companies to take Rs 14000 crore hit, gas based power plants to become unviable: Reports
Cabinet approves hike of paddy MSP by Rs 60 per 100 kg to Rs 1310-Cabinet approves coal regulatory authority bill
-CCEA clears 7.64 percent divestment of National Fertilisers
Govt invites bids to appoint advisors for STC , ITDC divestment -Govt planning to divest 1.02 percent stake in STC via offer for sale
-Govt planning to divest 5 percent in ITDC via offer for sale
SBI's Santosh Nair likely to be appointed new IFCI MD & CEO: Sources
-RM Malla likely to be appointed new IFCI chairman
Bharti Airtel loses out in bid for Myanmar mobile licenceAlert: Myanmar had shortlisted 12 companies to award 2 mobile licences
Myanmar selects Telenor mobile & Ooredoo as 2 applicants
Banking Licence (Deadline July 1st)
- IIFL to apply for banking licence
- Bajaj Finserv submits application to RBI for banking licence
-Bajaj Finserv says: Plan to convert arm Bajaj Finance into bank
- IFCI board okays applying for bank licence with RBI
HDFC Bank says
-RBI probe found no evidence of money laundering
-RBI probe noted some violations of KYC norms
-Reviewing, strengthening system after Cobrapost expose
Amtek Auto
-To buy 26.61 percent stake in JMT Auto from promoters
-To buy 26.61 percent JMT Auto stake for Rs 56.96 crore at Rs 149/share
ING Vysya Bank
-Raises Rs 1,836 crore via QIP, preferential issue of shares
-QIP, preferential placement at Rs 612/share
Other stocks and sectors that are in news today:
- DLF may exit insurance JV ET
-Home Ministry rules our first right of refusal to Tata’s for Taj Mansingh ET
- HCC board approves allotment of 3.92 crore convertible warrants to promoter companies at Rs 16.32 (CMP = 10.3, premium of 58 percent)
- DB Corp to sell 51 percent stake in Divya Prabhat Publications as part of company restructuring
-Gujarat Fluorochemicals plans to list wind subsidiary, Inox Wind, by FY14
House panel on finance: CNBC-TV18 Exclusive
-To adopt GST report on Friday
RBI issues norms on valuation of bonds issued by state discoms -RBI Says State Discoms' bonds to be treated as non-slr securities
Stocks In Ban Period:
NIL
The market has given break of inner small channel which has target of 5770. However the upper trend line resistance is at 5710. There is strong resistance in the area of 5710-5715 as the upper trendline and 50% of fall from 5863 to 5566 lies in this area.
The Nifty 5600 call has seen a massive writing today, indicating a short term bottom in place. The nifty can move higher to the levels of 5780-5820. The support for nifty is at 5640-5590-5560 and the resistance lies at 5710-5745-5780. Nifty July Future has been trading at 1-2 points discount to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.20 and for puts were at 20.78. India VIX closed at 18.85. PCR for Nifty based on open interest was at 0.85 and PCR for the day based on volumes was at 0.91 for the market.
CASH MARKET:
FII 5110.77 - 6154.04 = (1043.27) Cr.
DII 1290.11 - 931.73 = 358.38 Cr
FII DERIVATIVES ACTION:
| Column1 | Buy | Sell | Net |
| INDEX FUTURES | 6771.28 | 6724.06 | 47.23 |
| STOCK FUTURES | 8475.47 | 7411.60 | 1063.87 |
CORPORATE ACTIONS:
| Ex-Date | Company | Purpose |
| 28-Jun-13 | Essel Propack Limited | Annual General Meeting / Dividend - Re.0.75/- Per Equity Share |
| 28-Jun-13 | JMT Auto Limited | Annual General Meeting / Final Dividend - Re 0.50/- Per Equity Share |
| 28-Jun-13 | SIL Investments Limited | Annual General Meeting / Dividend - Rs 1.25/- Per Share |
| 28-Jun-13 | Smartlink Network Systems Limited | Annual General Meeting And Dividend Rs.2/- Per Share |
| 28-Jun-13 | Vindhya Telelinks Limited | Annual General Meeting |
| 28-Jun-13 | Birla Ericsson Optical Limited | Annual General Meeting |
| 28-Jun-13 | Sterling Tools Limited | Annual General Meeting |
| 28-Jun-13 | Universal Cables Limited | Annual General Meeting |
Stocks In News:
Cabinet Committee on Economic Affairs (CCEA)-Okays Rangarajan formula for gas pricing, to be valid for 5 years
-Gas Prices to rise to USD 8.4/mmbtu from April 1, 2014
-Gas prices to be revised quarterly April 1, 2014 onwards
Alert: Gas price hike impact: Average power cost to go up by 16 paise/kwh
Alert: Gas price hike impact: Fuel cost of gas based power plants to go up by 100 percent
Alert: Gas price hike impact: Move to result in hike in power tariff, urea and CNG cost
Oil minister Veerappa Moily to CNBC-TV18:
-Rangarajan recommendations have been accepted by CCEA
-CCEA has decided on quarterly revision of gas prices
-'FM and I will explain CCEA decisions on gas price on Friday'
On CNBC-TV18 Managing director of Oil & Gas research at Macquarie group, Jal Irani says:-The gas price hike in line with expectations
-Govt could gain USD 69 billion from gas price hike
-May see investment of USD 100 billion in exploration
- Reliance Industries ' (RIL) EPS would go up by 7-8 percent
-EPS of ONGC , Oil India (OIL) to go up by 35-40 percent
-ONGC and Oil India will be largest benefactors
On CNBC-TV18 Oil India says:
-'The gas price hike slightly more than we expected'
-Move will encourage company to take more aggressive exploration
-Have lined up close to USD 4 billion in investment in 12th plan
On CNBC-TV18 RS Sharma says:
-It could be the big turnaround for investment sentiment in India
** Gas price hike big hit for power, fertiliser companies to take Rs 14000 crore hit, gas based power plants to become unviable: Reports
Cabinet approves hike of paddy MSP by Rs 60 per 100 kg to Rs 1310-Cabinet approves coal regulatory authority bill
-CCEA clears 7.64 percent divestment of National Fertilisers
Govt invites bids to appoint advisors for STC , ITDC divestment -Govt planning to divest 1.02 percent stake in STC via offer for sale
-Govt planning to divest 5 percent in ITDC via offer for sale
SBI's Santosh Nair likely to be appointed new IFCI MD & CEO: Sources
-RM Malla likely to be appointed new IFCI chairman
Bharti Airtel loses out in bid for Myanmar mobile licenceAlert: Myanmar had shortlisted 12 companies to award 2 mobile licences
Myanmar selects Telenor mobile & Ooredoo as 2 applicants
Banking Licence (Deadline July 1st)
- IIFL to apply for banking licence
- Bajaj Finserv submits application to RBI for banking licence
-Bajaj Finserv says: Plan to convert arm Bajaj Finance into bank
- IFCI board okays applying for bank licence with RBI
HDFC Bank says
-RBI probe found no evidence of money laundering
-RBI probe noted some violations of KYC norms
-Reviewing, strengthening system after Cobrapost expose
Amtek Auto
-To buy 26.61 percent stake in JMT Auto from promoters
-To buy 26.61 percent JMT Auto stake for Rs 56.96 crore at Rs 149/share
ING Vysya Bank
-Raises Rs 1,836 crore via QIP, preferential issue of shares
-QIP, preferential placement at Rs 612/share
Other stocks and sectors that are in news today:
- DLF may exit insurance JV ET
-Home Ministry rules our first right of refusal to Tata’s for Taj Mansingh ET
- HCC board approves allotment of 3.92 crore convertible warrants to promoter companies at Rs 16.32 (CMP = 10.3, premium of 58 percent)
- DB Corp to sell 51 percent stake in Divya Prabhat Publications as part of company restructuring
-Gujarat Fluorochemicals plans to list wind subsidiary, Inox Wind, by FY14
House panel on finance: CNBC-TV18 Exclusive
-To adopt GST report on Friday
RBI issues norms on valuation of bonds issued by state discoms -RBI Says State Discoms' bonds to be treated as non-slr securities
Stocks In Ban Period:
NIL
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