Nifty opened gap down 14 points but soon recovered. The markets were range bound between the 6490 & 6520 levels. The IIP data came flat which was no surprise. The CPI however has come at 25 month low. This is viewed positive from the rate cut point of view. The banking stocks can see a positive impact from this news. However the WPI tomorrow may hold a key to RBI's decision in the coming days. The markets may see a up swing on the positive macro data but may then trade flat to negative as it is consolidating after a rapid move.
The
support for nifty is at 6485-6434-6400 and the resistance lies at 6535-6562-6602.
Nifty March Future has been trading at 32-33 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 15.24
and for puts were at 13.95. India VIX closed at 17.04. PCR for Nifty based on
open interest was at 1.11 and PCR for the day based on volumes was at 1.04 for
the market.
CASH MARKET:
FII 3219.19 - 2354.84 = 864.35 Cr.
DII 654.43 - 1476.4 = (821.97) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1739.34 | 1813.05 | 55997 |
| INDEX OPTIONS | 13276.31 | 13413.29 | 422794 |
| STOCK FUTURES | 2540.77 | 2898.10 | 86017 |
| STOCK OPTIONS | 1841.59 | 1859.72 | 58114 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 13-Mar-14 | Standard Chartered PLC | Final Dividend |
| 13-Mar-14 | Noida Toll Bridge Company Limited | Interim Dividend Rs 1.50/- Per Share |
| 13-Mar-14 | Orchid Chemicals & Pharmaceuticals Limited | Annual General Meeting |
| 13-Mar-14 | IDFC Limited | Interest Payment |
| 13-Mar-14 | Easun Reyrolle Limited | Rights 12:25 @ Premium Rs.57/- Per Equity Share |
| 13-Mar-14 | IL&FS Transportation Networks Limited | Rights 27:100 @ Premium Rs.90/- Per Equity Share |
STOCKS IN NEWS:**
Tech Mahindra Ltd: IT services firm Tech Mahindra said it has set up a global development centre in partnership with Alstom Transport, a manufacturer of rail technology.
Infosys Ltd: Infosys, India's second-largest information technology (IT) services company, on Wednesday, said it continued to see weakness in client spending throughout the current quarter ending March 31, 2014 (Q4), and the company might only be able to meet the lower end of its annual revenue growth guidance for FY14, said media reports.
Reliance Industries Ltd: RIL has refuted allegations by the Aam Aadmi Party (AAP) that oil ministers Mani Shankar Aiyar and S Jaipal Reddy were removed because they did not favour the company, saying the "malafide propaganda" was "factually incorrect."
Ranbaxy Laboratories Ltd: Ranbaxy Laboratories Ltd is in talks with at least two companies on sourcing ingredients for a generic version of AstraZeneca Plc's heartburn pill Nexium, a person with direct knowledge of the matter said, after a U.S. ban on shipments from a plant in India.
SAIL: Steel Authority of India Ltd has requested the government to direct Coal India ( CIL) arm Bharat Coking Coal to transfer the surface rights of its coal mine in Jharkhand to the steel PSU so that it can adhere to the committed schedule for development of the block by April next year.
Tata Motors Ltd: Tata Motors Ltd.-owned Jaguar Land Rover (JLR) on Wednesday reported a 14% increase in global sales in February at 30,487 units. The company's sales were up 44% in the China region, 12% in North America, 16% in Asia Pacific and 1% in Europe, JLR said in a statement.
Hero MotoCorp Ltd: The Competition Commission has rejected allegations of unfair business practices against HeroMotoCorp related to an earlier dealership in Karnataka.
Coal India Ltd: Coal India Ltd said its officers will go on a three-day strike from Thursday to demand for a settlement of pay-related issues, in a move that could cut some of its 1.5 million tonnes-per-day output and tighten domestic supplies.
Chettinad Cement & Anjani Portland: Chettinad Cement Corporation is set to acquire controlling interest in Anjani Portland Cement by entering into a share purchase agreement with the promoters of the latter.
Infosys Ltd: Infosys, India's second-largest information technology (IT) services company, on Wednesday, said it continued to see weakness in client spending throughout the current quarter ending March 31, 2014 (Q4), and the company might only be able to meet the lower end of its annual revenue growth guidance for FY14, said media reports.
Reliance Industries Ltd: RIL has refuted allegations by the Aam Aadmi Party (AAP) that oil ministers Mani Shankar Aiyar and S Jaipal Reddy were removed because they did not favour the company, saying the "malafide propaganda" was "factually incorrect."
Ranbaxy Laboratories Ltd: Ranbaxy Laboratories Ltd is in talks with at least two companies on sourcing ingredients for a generic version of AstraZeneca Plc's heartburn pill Nexium, a person with direct knowledge of the matter said, after a U.S. ban on shipments from a plant in India.
SAIL: Steel Authority of India Ltd has requested the government to direct Coal India ( CIL) arm Bharat Coking Coal to transfer the surface rights of its coal mine in Jharkhand to the steel PSU so that it can adhere to the committed schedule for development of the block by April next year.
Tata Motors Ltd: Tata Motors Ltd.-owned Jaguar Land Rover (JLR) on Wednesday reported a 14% increase in global sales in February at 30,487 units. The company's sales were up 44% in the China region, 12% in North America, 16% in Asia Pacific and 1% in Europe, JLR said in a statement.
Hero MotoCorp Ltd: The Competition Commission has rejected allegations of unfair business practices against HeroMotoCorp related to an earlier dealership in Karnataka.
Coal India Ltd: Coal India Ltd said its officers will go on a three-day strike from Thursday to demand for a settlement of pay-related issues, in a move that could cut some of its 1.5 million tonnes-per-day output and tighten domestic supplies.
Chettinad Cement & Anjani Portland: Chettinad Cement Corporation is set to acquire controlling interest in Anjani Portland Cement by entering into a share purchase agreement with the promoters of the latter.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
Stock of the day:
Reliance Industries Ltd.
Reliance Industries had a spectacular move last week. the stock gained 80 rupees in just 3 trading sessions. During this up move stock closed above the 61.8% fibonacci ratio. this indicated the short term downtrend is over. In last two trading sessions the stock consolidated around the support of 860 levels. Buy Reliance for the target of 885-896-903 with the stop loss of 856.
Stock of the day:
Reliance Industries Ltd.
Reliance Industries had a spectacular move last week. the stock gained 80 rupees in just 3 trading sessions. During this up move stock closed above the 61.8% fibonacci ratio. this indicated the short term downtrend is over. In last two trading sessions the stock consolidated around the support of 860 levels. Buy Reliance for the target of 885-896-903 with the stop loss of 856.
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