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.
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.
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.
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