Nifty Daily For 1st April 2014

                   Nifty opened with a gap up of 27 points at 6723 and made a high of 6729. On daily charts the market has formed Shooting Star, which has bearish implications. A gap down opening or a black body candle will provide the confirmation of reversal. The monthly charts the market has broken out of ascending triangle after the 6 years of consolidation. A test of this trend line cannot be ruled out, which is around 6360 levels. However the market breadth remains quite positive. A breach of 6662 can be termed as reversal for the short term. The RBI annual monetary & credit policy today will be the main event deciding the direction of market. Although no big surprises are expected from Mr. Raghuram Rajan, still a dovish stance will boost the India Inc. morals and hence of the markets.

                    The support for nifty is at 6660-6629-6570 and the resistance lies at 6720-6755-6790. Nifty April Future has been trading at 35-36 points premium to the spot. The implied volatility on the Nifty April Options of ATM strike calls were at 16.27 and for puts were at 17.41. India VIX Future closed at 2165.75. PCR for Nifty based on open interest was at 1.17 and PCR for the day based on volumes was at 1.04 for the market.

CASH MARKET:

FII              4248.84  -   3305.98  =  942.86 Cr.

DII              1358.08  -   1969.3  =   (611.22) Cr.

FII DERIVATIVES MARKET:

IN CR.	BUY	SELL	NET
INDEX FUTURES	1512.68	1689.82	-177.13
INDEX OPTIONS	8380.09	8391.33	-11.24
STOCK FUTURES	3670.71	3591.06	79.65
STOCK OPTIONS	1422.64	1483.67	-61.03

CORPORATE ACTION:

Company	Purpose	Ex-Date	Record Date
Colgate Palmolive (India) Limited	Third Interim Dividend Rs 9/- Per Share (Purpose Revised)	1-Apr-14	3-Apr-14

STOCKS IN NEWS:**

Reliance Industries Ltd: RIL will continue to supply gas at $4.2 a unit to 16 fertiliser units until the government comes out with another notification in this regard. This follows the asking RIL to continue supplies on existing terms in the interim period, after talks between both the parties remained inconclusive, said media reports.

Coal India Ltd: Coal India has sold shares worth over Rs 550 crore towards the CPSE's exchange traded fund as part of government's disinvestment programme.

NTPC: State-run NTPC, the biggest power producer in India, said it was preparing to start commercial operations at three new solar power plants, doubling its capacity from solar energy sources

Reliance Communications Ltd: Reliance Communications (RCom) launched two global roaming packs -- Unique UK and Fabulous Five -- Monday for its postpaid GSM customers.

JSPL: After investing Rs 12,500 crore this year, the Naveen Jindal-promoted Jindal Steel & Powerd plans to focus on debt reduction in 2014-15, along with an increase in earnings before interest, tax and amortisation (Ebitda), said media reports.

Lakshmi Vilas Bank: The private lender has sought market regulator's Sebi approval to raise Rs 505 crore through rights issue. Issue of equity shares on a rights basis to its existing equity shareholders would aggregate up to Rs 505 crore, draft letter filed by Lakshmi Vilas Bank with Securities and Exchange Board of India (Sebi) showed.

Religare Enterprises Ltd: The company approved of allotting Rs 550 crore equity shares on preferential basis to two non-promoter companies, including Standard Chartered Bank, said media reports.

Kalpataru Power Transmission: KPTL said it has bagged orders worth nearly Rs 700 crore, including from overseas. The orders are in the transmission and infrastructure verticals.

IFB Agro Industries Ltd: IFB Agro Industries has informed the BSE that a meeting of the board of directors will be held on April 7 to consider the acquisition of the Co2 (carbon dioxide) and dry ice business of Nurpur Gases Pvt Ltd, a promoter group company.

Suzlon Energy Ltd: Pune-based Suzlon Energy Limited, the world's fifth-largest wind turbine supplier, is planning to sell its assets and raise about Rs 1,500 crore through it, said media reports.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

Stock of the day:
Suzlon Energy:

The Stock has become a penny stock after its debacle due to expensive RE Power buy in 2008. It has been consolidating for past three months the stock has broken out of range. The stock can be bought with a stop loss of 10.3 for the target of 12.15-15-18 levels from short to mediam term perspective. 

Weekly Nifty For 31st March- 4th April 2014

    The market closed at all time high with each day of the week and the 6690 target of Nifty was achived easily. The Bull market is in full form. As I had mentioned earlier about a Bullish Flag pattern, this chart is complete now and the potential target is 6915. The market is on the verge of a multi year breakout on the monthly charts. It can be termed as start of a much anticipated bull market. The euphoria associated with the bull market is missing with meager participation from Retail crowd. This one of the simplest and most important psychological trait of a new bull market.
    Nifty opened the week at 6510, made a high of 6702, low of 6510 and closed the week at 6695. Thus the Nifty closed the week with a strong gain of 201 points. On the daily charts, Nifty have formed a big white body candle. On the weekly chart it has formed a big Opening White body Marubuzo which indicates that strong bullish momentum remains intact. Hence both daily as well as weekly charts suggest bullishness in the near term. The entire move from the lows of 4531 can be seen in a single channel on weekly charts. The upper end of channel at 6770 level will act as a strong resistance.

    Pattern formation is a dynamic process. This week index has completed a Bullish Flag pattern when Nifty closed above 6562. The pattern has a potential target of  at least 6915. These targets are likely to be achieved as long as Nifty remains above 6432.

The market has left behind a Bullish upward gap at 6413-6403. This Bullish Gap is acting as a strong support which was tested when Nifty  reversed from a low of 6432. This Gap can be termed as Measuring Gap and as per Gap theory the target falls at 6880. Thus with various tools of technical analysis the potential target zone for Nifty lies at 6880-6915. This rally was started from the lows of 5933 and hence a breach of this level with signify end of this bull rally.

    This market is above its short term average of 20dma (6498), the medium term average of 50dma (6284) and the long term average of 200dma (6034). Thus the trend in all the time frame remains bullish.
    RSI @ 78 has reached overbought territory. MFI @ 56 has moved from near equilibrium level of 50 towards more bullish bias. A clear indication of money flowing into the market. Stochastic Oscillator is also in overbought zone as %K is at 91. ADX @ 36 has increased further, suggesting that the uptrend remains very strong. The Directional Indicators continue in Buy mode as +DI continues to remain above -DI. OBV continues in Buy mode making higher top higher bottom formation. Both the indices continue with Buy signal on Bollinger Band. Most of the Oscillators are in overbought territory, so in short term there can be some weakness in blue chips, so one can look towards buying the midcap stocks, where the rally is yet to reach its peak.
    The Nifty O.I. PCR is at a level of 1.06 which points towards bullish bias prevailing in the market. For the April series, highest Open interest build up is seen at 6400 Put and 6700 Call. This suggests that the market expects a trading range of 6400 and 6700 levels. On Friday strong Call writing was witnessed at the strike of 7000 and some unwinding of the 6700 Call. Thus as long as Nifty stays above 6700 there is a strong chance of reaching the 7000 levels in this series.

Stock of the week:
RECL:

The stock has been in a consolidation since the June 2013 in the form of a triangle. The stock has broken out of the triangle on the weekly charts. A Inverted Head & Shoulders breakout can be seen in the daily charts. But the weekly charts has more significance. The potential target for this chart is around 325 levels. For the short term one can buy this stock for the target of 236-250 with the stop loss of 213.

Nifty Daily For 28th March 2014

 As Expected Nifty made a new high of 6673.6 on the expiry and closed at the highest level for the March expiry at 6641.75. The market is the vicinity of the 6190 target, which is the target of past two weaks of consolidation. The call writing in 6700CE indicates near term resistance.  The market is expected to remain range bound on the first day of April series. 

The support for nifty is at 6621-6574-6430 and the resistance lies at 6674-6696-6751. Nifty April Future has been trading at 41-42 points premium to the spot. The implied volatility on the Nifty April Options of ATM strike calls were at 14.96 and for puts were at 16.42. India VIX closed at 18.37. PCR for Nifty based on open interest was at 1.06 and PCR for the day based on volumes was at 1.01 for the market.

CASH MARKET:

FII         8064.48  -    5872.55  =  2191.93Cr.

DII         2324.96     - 2916.79    =    (591.83)Cr.

FII DERIVATIVES MARKET:

In Cr	Buy	Sell	Net
INDEX FUTURES	6966.88	6227.35	739.53
INDEX OPTIONS	22841.51	21870.69	970.83
STOCK FUTURES	12723.79	12439.29	284.49
STOCK OPTIONS	1657.23	1488.95	168.28

CORPORATE ACTION:

Company	Purpose	Ex-Date	Record Date
Kothari Products Limited	Bonus 2 : 1	28-Mar-14	2-Apr-14
NRB Industrial Bearings Limited	Annual General Meeting	28-Mar-14	-
Mayur Uniquoters Ltd	Bonus 1 : 1	28-Mar-14	2-Apr-14

STOCKS IN NEWS:**

NTPC: The country's largest power producer NTPC has set a target of importing as much as 15 million tonnes of coal in the next financial year (2014-15).

SBI: State Bank of India ( SBI) has ordered a forensic audit of one of its borrowers which reportedly has a Rs 360-crore liability towards the bank and also happens to be a defaulter on the crisis-hit NSEL.

Cox & Kings Ltd: Travel company Cox & Kings today announced that along with online travel site Ezeego1.com it has formed a marketing alliance with Canada-based G Adventures to offer safe and reliable adventure travel products for Indian travellers.

Infosys Ltd: IT services major Infosys said it signed a three-year contract with Prime Therapeutics to set up a testing centre of excellence ( COE) and consolidate the delivery of its application testing services.

Suzlon Energy Ltd: Debt-laden wind turbine maker Suzlon Energy Ltd has won approval from shareholders to reappoint managing director Tulsi Tanti and a proposal to raise his annual compensation by 50%, said media reports.

NATCO Pharma Ltd: The Delhi high court has barred the export of generic kidney and liver cancer medication, Sorefenat, manufactured by Natco Pharma Ltd on the plea of German drug major Bayer Corporation, said media reports.

Godrej Properties Ltd: Realty firm GPL on Thursday said it has entered into a partnership with SSPDL Green Acres LLP to develop a residential project in Chennai. The project will be developed through a profit-sharing model.

Canara Bank: Canara Bank had informed the Exchange that it is coming out with the issaunce of Tier-II Bonds (Series-II) for Rs 1000 crore to augment capital resources. The Bank has now informed the Exchange that the Issue was opened and closed on March 27, 2014. The Bank has successfully raised Rs. 1000 Crore under BASEL-III Complaint Tier-II Bonds (Series-II).

Lupin Ltd: Pharma major Lupin Limited has acquired 100% equity stake in Laboratorios Grin, S.A. De C.V. (Grin), Mexico. The acquisition, subject to certain closing conditions, marks Lupin's foray into the high growth Mexican and the larger Latin American pharmaceuticals market, said media reports.

Titan Industries Ltd: Watch and jewellery maker Titan Co. Ltd will set up its second spectacle-lens manufacturing facility in northern or eastern part of India in the coming fiscal year, said media reports.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

Stock of the day:
Godrej Properties:

The stock has been moving in an uptrend after hitting a low of 155 and has reached the 200DMA. The Stock has given breakout of an Inverted Head & Shoulders pattern on the daily charts.. The target for this lies at 220. The stock can be bought at current levels and subsequent declines to 187 for the target of 200-207-215-220. The time frame is medium term for the position.

Nifty Daily For 27th March 2014

               Nifty opened with a gap up on Wednesday above the resistance of 6000-6012 and traded for most part of the day in a range. However the market lost its footing and along with its European pears tumbled down to fill the gap created in the morning session. The expiry day may see the market moving higher towards the 6650 levels. However the expiry seems muted towards the 6600 levels. 

             The support for nifty is at 6592-6547-6520 and the resistance lies at 6621-6664-6696. Nifty March Future has been trading at 13-14 points premium to the spot. The implied volatility on the Nifty March Options of ATM strike calls were at 14.16 and for puts were at 19.07. India VIX closed at 17.76. PCR for Nifty based on open interest was at 1.1 and PCR for the day based on volumes was at 1.04 for the market.

CASH MARKET:

FII     3965.79   -  2961.27  =  1004.52 Cr.

DII    1644.44  -   2000.55  =   (356.11)Cr.

FII DERIVATIVES MARKET:

In Cr	Buy	Sell	Net
INDEX FUTURES	6546.07	5661.30	884.78
INDEX OPTIONS	19748.88	18845.41	903.47
STOCK FUTURES	12475.01	13029.26	-554.26
STOCK OPTIONS	2184.11	2272.78	-88.67

CORPORATE ACTION:

 

Ex-Date	Company	Purpose	Record Date
27-Mar-14	Marico Limited	Silver Jubilee Third Interim Dividend Re 1.75/- Per Equity Share (Purpose Revised)	1-Apr-14
27-Mar-14	FAG Bearings India Limited	Dividend Rs 6 Per Share	-
27-Mar-14	Kemrock Industries and Exports Limited	Annual General Meeting	-
27-Mar-14	Oil & Natural Gas Corporation Limited	Second Interim Dividend - Rs 4.25/- Per Share (Purpose Revised)	29-Mar-14
27-Mar-14	Vikas GlobalOne Limited	Face Value Split From Rs 10/- To Re 1/-	30-Mar-14
27-Mar-14	State Bank of Bikaner and Jaipur	Interim Dividend - Rs 14.30/- Per Share (Purpose Revised)	31-Mar-14

STOCKS IN NEWS:**

TCS Ltd: A leading Saudi Arabian Bank and Tata Consultancy Services ( TCS) have inked a pact to implement a new core banking software platform that is likely to "transform" the bank's customer service delivery system.

Reliance Industries Ltd: RIL won two exploration blocks in Myanmar, the company said in a statement on Wednesday. Also, the Oil Ministry has summoned the oil & major and consumers who use its KG-D6 gas for a meeting later this week to decide on extending sales contract beyond March 31.

JSW Steel Ltd: India's No. 3 steel maker, said it expects imports of metallurgical coal to stay flat at 7-8 million tonnes in 2014/15, indicating its mills will continue to run below capacity due to soft demand and a shortage of iron ore.

Financial Technologies Ltd: The US-based CME Group, one of the world's largest futures and options exchanges; Deutsche Borse, operator of Frankfurt Stock Exchange; R-ADA Group; BSE; and Kotak have lined up to purchase Financial Technologies' (India) (FTIL) stake in commodity bourse MCX, people aware of the development told ET.

CARE Ltd: IL&FS Financial Service has reduced its stake in Credit Analysis and Research (CARE) by two per cent in a transaction valued at Rs 45 crore.

Sesa Sterlite Ltd: A panel set up by Supreme court recommended lifting a ban on iron ore mining in Goa, albeit with conditions that include lowering production. Miners in the state, which exported almost all its ore before the Supreme Court order in October 2012, should limit output to 20 million metric tons, the panel said today in a report.

ONGC, BPCL, HPCL: Connsumers are likely to get a bit of respite from high fuel prices next month as oil marketing companies are expected to cut petrol prices by up to R2 a litre. Also, the government is contemplating whether the companies should increase diesel price by 50 paise or not, said media reports.

State Bank of Travancore: The public sector bank which is an associate of SBI, approved to raise equity capital up to Rs 629 by issuing new shares on rights basis.

STOCKS IN BAN PERIOD:

HDIL

IBREALEST

Source:**economictimes.com , nseindia.com

 Stock of the day:
Wipro

Wipro has had a spectacular run from 330 levels after which the stock has been consolidating for some time. With the market move the stock moved from 528 to 577 levels. The stock is currently trading near the 66.6% levels of this rise One can go long on this stock with 543 as stop loss and 549-552-557 as short term targets.