Nifty opened gap down of 25 points on weak global ques. The market took the support of 6490 and then bounced back sharply. Nifty tested the previous highs of 6560 but failed to breach past them and went on the trading range. The market had a sharp fall after 2.45PM and nifty made a new low of 6476. I had stated that the closing below 6490 will mean start of a correction in the market. Hence now the short term trend has become downward. The strong put build up in 6400PE indicates that the support in near future.
The support for nifty is at 6434-6400-6375 and the resistance lies at 6494-6525-6560.
Nifty March Future has been trading at 27-28 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 13.75
and for puts were at 14.04. India VIX closed at 16.82. PCR for Nifty based on
open interest was at 1.16 and PCR for the day based on volumes was at 1.07 for
the market.
CASH MARKET:
FII 3955.11 - 3338.49 = 616.62 Cr.
DII 1215.54 - 1529.94 = (314.4) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2049.92 | 1623.02 | 426.90 |
| INDEX OPTIONS | 14504.69 | 14690.20 | -185.51 |
| STOCK FUTURES | 3175.56 | 3774.76 | -599.21 |
| STOCK OPTIONS | 2597.89 | 2617.90 | -20.01 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 14-Mar-14 | Ahmednagar Forgings Limited | Annual General Meeting And Dividend Re 1/- Per Share |
| 14-Mar-14 | Prime Securities Limited | Annual General Meeting |
STOCKS IN NEWS:**
Bharti Airtel Ltd: Bharti Airtel is raising over $400 million (Rs 2,446 crore) through a bond offering to European investors, its second in less than a quarter, a banker on the deal said, as the telecom major moved to bring down its net finance costs.
Maruti Suzuki Ltd: Maruti's institutional investors today approached Sebi, seeking its intervention to safeguard minority shareholders' interests and to ensure compliance with good corporate governance norms with regard to the transfer of a Gujarat project to the car maker's Japanese parent Suzuki.
Gujarat Gas Company Limited: Post a Petroleum and Natural Gas Regulatory Board (PNGRB) nod, Gujarat Gas Company Limited (GGCL) can now expand its city gas distribution (CGD) network into Bhavnagar district.
Tata Motors Ltd: Tata Motors said global sales, including Jaguar Land Rover (JLR) vehicles, declined 19.06 per cent to 79,996 units in February from a year ago. The company had sold 98,837 units in February last year, Tata Motors said in a statement.
AstraZeneca Pharma India Ltd: The board will meet on 15 March to decide on delisting the company's shares from the stock exchanges. The drug maker's Swedish parent, AstraZeneca Pharmaceuticals AB, had on 1 March written to the Indian unit about its decision to voluntarily delist the company, said media reports.
MphasisS Ltd: HP-owned IT services firm MphasiS reported a 2 per cent fall in consolidated net profit at Rs 180.6 crore for the first quarter ended January 31, 2014.
Crompton Greaves Ltd: Billionaire Gautam Thapar has put Crompton Greaves up for sale, said two persons familiar with the development. Thapar wants to sell his controlling 42.7% stake to an overseas company seeking to establish itself in the Indian power transmission and distribution sector, said one of the persons.
Infosys Ltd: IT services major Infosys said its Senior Vice President and head of Computers and Communications Division (CCD) K Muralikrishna has sold shares worth Rs 5.48 crore.
IOC Ltd: State-owned Indian Oil Corp ( IOC) is mulling setting up a Rs 30,000 crore refinery at Mundra in Gujarat as part of a plan to increase its processing capacity to 100 million tonnes.
Coal India Ltd: Production and supplies at Coal India mines dwindled about 20% on Thursday as officers of the state-run company started a three-day strike demanding salary increase. Coal-fired power generation, though, has not been affected and is expected to remain largely normal the next two days as most power stations have stocked up enough coal.
Maruti Suzuki Ltd: Maruti's institutional investors today approached Sebi, seeking its intervention to safeguard minority shareholders' interests and to ensure compliance with good corporate governance norms with regard to the transfer of a Gujarat project to the car maker's Japanese parent Suzuki.
Gujarat Gas Company Limited: Post a Petroleum and Natural Gas Regulatory Board (PNGRB) nod, Gujarat Gas Company Limited (GGCL) can now expand its city gas distribution (CGD) network into Bhavnagar district.
Tata Motors Ltd: Tata Motors said global sales, including Jaguar Land Rover (JLR) vehicles, declined 19.06 per cent to 79,996 units in February from a year ago. The company had sold 98,837 units in February last year, Tata Motors said in a statement.
AstraZeneca Pharma India Ltd: The board will meet on 15 March to decide on delisting the company's shares from the stock exchanges. The drug maker's Swedish parent, AstraZeneca Pharmaceuticals AB, had on 1 March written to the Indian unit about its decision to voluntarily delist the company, said media reports.
MphasisS Ltd: HP-owned IT services firm MphasiS reported a 2 per cent fall in consolidated net profit at Rs 180.6 crore for the first quarter ended January 31, 2014.
Crompton Greaves Ltd: Billionaire Gautam Thapar has put Crompton Greaves up for sale, said two persons familiar with the development. Thapar wants to sell his controlling 42.7% stake to an overseas company seeking to establish itself in the Indian power transmission and distribution sector, said one of the persons.
Infosys Ltd: IT services major Infosys said its Senior Vice President and head of Computers and Communications Division (CCD) K Muralikrishna has sold shares worth Rs 5.48 crore.
IOC Ltd: State-owned Indian Oil Corp ( IOC) is mulling setting up a Rs 30,000 crore refinery at Mundra in Gujarat as part of a plan to increase its processing capacity to 100 million tonnes.
Coal India Ltd: Production and supplies at Coal India mines dwindled about 20% on Thursday as officers of the state-run company started a three-day strike demanding salary increase. Coal-fired power generation, though, has not been affected and is expected to remain largely normal the next two days as most power stations have stocked up enough coal.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
Stock of the day:
COALINDIA
The stock has been in negative news for quite sometime. In spite of all the negativeness the stocks has managed to move higher and close above the 50DMA after a long stint. Thus is a buying opportunity. Buy CoalIndia for a target of 270-274 with stop loss of 262.The stock has a potential of reaching 280 target in the near term.
Stock of the day:
COALINDIA
The stock has been in negative news for quite sometime. In spite of all the negativeness the stocks has managed to move higher and close above the 50DMA after a long stint. Thus is a buying opportunity. Buy CoalIndia for a target of 270-274 with stop loss of 262.The stock has a potential of reaching 280 target in the near term.
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