Nifty opened with a small gap down of 15 points in accordance with the weak global queues. However markets to the support of 6130 and went up past the barrier of 6160. The index made new high for day at 6192. The index was mainly supported by banks and pharmaceuticals, each gaining more than 1.25%. The nifty is testing the bearish gap at 6188-6224. The uptrend will resume if and when this gap is filled. For time being I expect the expiry below 6200 levels. The huge OI addition in 6200PE is clearly indicating a lower expiry.
The support for nifty is at 6154-6125-6086 and the resistance lies at 6224-6243-6302. Nifty February Future has been trading at 10-11 points premium to the spot. The implied volatility on the Nifty February Options of ATM strike calls were at 1.95 and for puts were at 13.05. India VIX closed at 14.36. PCR for Nifty based on open interest was at 1.16 and PCR for the day based on volumes was at 1.11 for the market.
CASH MARKET:
The support for nifty is at 6154-6125-6086 and the resistance lies at 6224-6243-6302. Nifty February Future has been trading at 10-11 points premium to the spot. The implied volatility on the Nifty February Options of ATM strike calls were at 1.95 and for puts were at 13.05. India VIX closed at 14.36. PCR for Nifty based on open interest was at 1.16 and PCR for the day based on volumes was at 1.11 for the market.
CASH MARKET:
FII 2379.03 - 2112.16 = 266.87Cr.
DII 580.59 - 829.08 = -248.49Cr.
FII DERIVATIVES MARKET:
| IN Cr. | BUY | SELL | NET |
| INDEX FUTURES | 3569.64 | 2967.84 | 601.80 |
| INDEX OPTIONS | 14446.11 | 13995.75 | 450.36 |
| STOCK FUTURES | 11256.62 | 11424.93 | -168.31 |
| STOCK OPTIONS | 1242.16 | 1243.53 | -1.37 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 25-Feb-14 | MPS Limited | Third Interim Dividend Rs 7/- Per Share |
| 25-Feb-14 | Hi-Tech Gears Limited | Interim Dividend Re1/- Per Share |
| 25-Feb-14 | Infinite Computer Solutions (India) Limited | Interim Dividend Rs.2/- Per Share |
| 25-Feb-14 | Igarashi Motors India Limited | Interim Dividend Re.1/- Per Share |
STOCKS IN NEWS:**
TCS Ltd: Tata Consultancy Services, a leading IT services, consulting and business solutions organisation, has been ranked top for overall capabilities in EMEA for manufacturing-specific outsourcing services.
Infosys Ltd: IT major Infosys today laid the foundation stone of its proposed SEZ which will be created with an initial investment of Rs 400 crore.
Ranbaxy Laboratories Ltd: Japanese drugmaker Daiichi Sankyo Co Ltd said on Tuesday its Indian unit Ranbaxy Laboratories Ltd has suspended shipment of pharmaceutical ingredients produced at its Toansa and Dewas plants.
Reliance Industries Ltd: Reliance Industries' partners BP and Niko Resources may have to sell their share of gas from KG-D6 at the current rate of $4.2 per unit from April 1 while others would charge double the price, according the oil ministry's latest decision that is being examined by the law ministry.
Bhushan Steel: Bhushan Steel is negotiating with lenders led by State Bank of India for a Rs 7,000-crore loan, ostensibly for capacity expansion, but some bankers say it was a kind of rollover which may be needed to avoid a potential loan restructuring.
Tata Power Ltd: Tata Power's board will deliberate on various fund raising options, including by way of preferential issue of shares to institutional investors, on February 27.
Shree Renuka Sugars Ltd: The sugar major may consider rights issue on February 27. The company recently entered into a deal with Wilmar International's subsidiary Wilmar Sugar Holdings (WSH). WSH is paying USD 200 million to Shree Renuka Sugars (SRS) to jointly control the company, said media reports.
Tech Mahindra Ltd: Tech Mahindra announced the launch of its Near Field Communication (NFC) test lab in Bangalore, India. The NFC Testing and Consulting capabilities in the lab will cater to the needs of chipset manufacturers, OEMs, Service Providers, Acquires and Issuers from the banking industry, said media reports.
L&T Ltd: Canadian pension fund Canada Pension Plan Investment Board (CPPIB) will invest Rs 1000 crore in the wholly owned infrastructure development arm of engineering major Larsen & Toubro, L&T Infrastructure Development Projects (L&T IDPL).
JP Associates Ltd: Jaiprakash Associates(JPA), burdened with RS 60,000 crore of consolidated debt, is in talks to sell its 74 per cent stake in two cement joint ventures with India's largest steel maker SAIL to Holcim-owned Associated Cement Companies for Rs 2,900 crore, two people familiar with the development told ET.
Infosys Ltd: IT major Infosys today laid the foundation stone of its proposed SEZ which will be created with an initial investment of Rs 400 crore.
Ranbaxy Laboratories Ltd: Japanese drugmaker Daiichi Sankyo Co Ltd said on Tuesday its Indian unit Ranbaxy Laboratories Ltd has suspended shipment of pharmaceutical ingredients produced at its Toansa and Dewas plants.
Reliance Industries Ltd: Reliance Industries' partners BP and Niko Resources may have to sell their share of gas from KG-D6 at the current rate of $4.2 per unit from April 1 while others would charge double the price, according the oil ministry's latest decision that is being examined by the law ministry.
Bhushan Steel: Bhushan Steel is negotiating with lenders led by State Bank of India for a Rs 7,000-crore loan, ostensibly for capacity expansion, but some bankers say it was a kind of rollover which may be needed to avoid a potential loan restructuring.
Tata Power Ltd: Tata Power's board will deliberate on various fund raising options, including by way of preferential issue of shares to institutional investors, on February 27.
Shree Renuka Sugars Ltd: The sugar major may consider rights issue on February 27. The company recently entered into a deal with Wilmar International's subsidiary Wilmar Sugar Holdings (WSH). WSH is paying USD 200 million to Shree Renuka Sugars (SRS) to jointly control the company, said media reports.
Tech Mahindra Ltd: Tech Mahindra announced the launch of its Near Field Communication (NFC) test lab in Bangalore, India. The NFC Testing and Consulting capabilities in the lab will cater to the needs of chipset manufacturers, OEMs, Service Providers, Acquires and Issuers from the banking industry, said media reports.
L&T Ltd: Canadian pension fund Canada Pension Plan Investment Board (CPPIB) will invest Rs 1000 crore in the wholly owned infrastructure development arm of engineering major Larsen & Toubro, L&T Infrastructure Development Projects (L&T IDPL).
JP Associates Ltd: Jaiprakash Associates(JPA), burdened with RS 60,000 crore of consolidated debt, is in talks to sell its 74 per cent stake in two cement joint ventures with India's largest steel maker SAIL to Holcim-owned Associated Cement Companies for Rs 2,900 crore, two people familiar with the development told ET.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
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