In spite of the weak global equities the Indian markets are showing quite a resilience on the downside. A small move on the downside is followed by an equal move on the upside. This is clear indication of market in a state of limbo. The elections are on the horizon and the markets have already moved in anticipation. so I feel the results are not going to give much surprise to market, unless there is a hung parliament. Although the possibility is remote, but I feel a correction in the markets is imminent. The Nifty has been failing to close above the levels of 6550 is a clear indication of down move in future. A close above this levels will take nifty higher towards the 6680 levels. The markets have a strong support zone in the area of 6470-6435. A close below this will confirm the start of correction. Currently the market is trading in a tight range of 6560-6480. A break of this range will provide definite direction for the market.
The
support for nifty is at 6485-6442-6406 and the resistance lies at 6540-6575-6600.
Nifty March Future has been trading at 25-26 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 14.74
and for puts were at 12.9. India VIX closed at 15.41. PCR for Nifty based on
open interest was at 1.18 and PCR for the day based on volumes was at 1.09 for
the market.
CASH MARKET:
FII 4655.28 - 3585.54 = 1069.74 Cr.
DII 1328.84 - 1939.8 = (610.96) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1693.87 | 1605.66 | 88.21 |
| INDEX OPTIONS | 11121.20 | 12105.62 | -984.42 |
| STOCK FUTURES | 3289.28 | 3530.20 | -240.92 |
| STOCK OPTIONS | 2267.12 | 2331.95 | -64.82 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 20-Mar-14 | Jayant Agro Organics Limited | Interim Dividend Rs 2.50 Per Share |
| 20-Mar-14 | Star Ferro and Cement Limited | Interim Dividend Re 0.33/- Per Share |
| 20-Mar-14 | Amtek Auto Limited | Annual General Meeting/Dividend - Re 0.50/- Per Share (Purpose Revised) |
| 20-Mar-14 | Amtek India Limited | Annual General Meeting/Dividend - Re 0.10/- Per Share (Purpose Revised) |
| 20-Mar-14 | KSB Pumps Limited | Annual General Meeting/Dividend Rs.4.50/- Per Share |
| 20-Mar-14 | Godawari Power And Ispat limited | Interim Dividend - Rs 1.50/- Per Share (Purpose Revised) |
| 20-Mar-14 | BF Utilities Limited | Annual General Meeting |
| 20-Mar-14 | Hexaware Technologies Limited | Annual General Meeting/Final Dividend - Re 1/- Per Share |
| 20-Mar-14 | IDFC Limited | Interest Payment |
| 20-Mar-14 | Engineers India Limited | Interim Dividend - Rs 3.50/- Per Share (Purpose Revised) |
STOCKS IN NEWS:**
Reliance Industries Ltd: British energy giant BP and Niko Resources of Canada are likely to formally join their partner Reliance Industries' arbitration against government levying penalties for KG-D6 gas production falling short of target.
TCS Ltd: Country's largest software services firm Tata Consultancy Services ( TCS) has deployed a maintenance, pepair and overhaul (MRO) application for Garuda Indonesia Airlines.
SpiceJet Ltd: The directorate general of civil aviation (DGCA) on Wednesday issued a show-cause notice to SpiceJet, asking why its licence should not be suspended, after a video of the cabin crew on a Goa-Bangalore flight dancing in the aisles went viral on social media.
Financial Technologies & MCX: Capital markets regulator Sebi on Wednesday directed Jignesh Shah-led Financial Technologies India to sell its shares in MCX-SX and other exchanges within 90 days on the ground that it did not meet the 'fit and proper' criteria required for a shareholder of an exchange.
IDFC Ltd: IDFC Alternatives, a wholly-owned subsidiary of IDFC Ltd, raised its first fund of Rs 750 crore focused on the residential sector in India.
NTPC Ltd: The government has ordered power major NTPC to furnish a Rs 233 crore bank guarantee to expedite development of a coal block in Chhattisgarh and said failure to submit the surety may result in cancellation of the mine.
Coal India Ltd: State-run Coal India has been forced to stop mining at several blocks including six big mines where millions of tonnes of coal can be quickly excavated but the output has already reached the limits allowed by the environment ministry.
SAIL: Steel producer Steel Authority of India ( SAIL) would enhance its Bhilai plants capacity to 7.5 million tonnes (mt) per annum from current 5 mt, that would entail an investment of R17,265 crore, said media reports.
SUN TV Ltd: Kalanithi Maran-owned Sun TV has inked pacts with online video publishing site Youtube and Apple's iTunes to sell its proprietary content on the platforms on a pay-for-view-basis.
TCS Ltd: Country's largest software services firm Tata Consultancy Services ( TCS) has deployed a maintenance, pepair and overhaul (MRO) application for Garuda Indonesia Airlines.
SpiceJet Ltd: The directorate general of civil aviation (DGCA) on Wednesday issued a show-cause notice to SpiceJet, asking why its licence should not be suspended, after a video of the cabin crew on a Goa-Bangalore flight dancing in the aisles went viral on social media.
Financial Technologies & MCX: Capital markets regulator Sebi on Wednesday directed Jignesh Shah-led Financial Technologies India to sell its shares in MCX-SX and other exchanges within 90 days on the ground that it did not meet the 'fit and proper' criteria required for a shareholder of an exchange.
IDFC Ltd: IDFC Alternatives, a wholly-owned subsidiary of IDFC Ltd, raised its first fund of Rs 750 crore focused on the residential sector in India.
NTPC Ltd: The government has ordered power major NTPC to furnish a Rs 233 crore bank guarantee to expedite development of a coal block in Chhattisgarh and said failure to submit the surety may result in cancellation of the mine.
Coal India Ltd: State-run Coal India has been forced to stop mining at several blocks including six big mines where millions of tonnes of coal can be quickly excavated but the output has already reached the limits allowed by the environment ministry.
SAIL: Steel producer Steel Authority of India ( SAIL) would enhance its Bhilai plants capacity to 7.5 million tonnes (mt) per annum from current 5 mt, that would entail an investment of R17,265 crore, said media reports.
SUN TV Ltd: Kalanithi Maran-owned Sun TV has inked pacts with online video publishing site Youtube and Apple's iTunes to sell its proprietary content on the platforms on a pay-for-view-basis.
STOCKS IN BAN PERIOD:
L&TFH
Source:**economictimes.com , nseindia.com
Stock of the day:
Sun TV
The stock has formed a bearish dark cloud cover in the daily charts. This candlestick has formed near the 61.8% retracement of the fall from recent highs of 400 till 375. This increases the significance of the bearish pattern. Also Relative strength index (RSI) has entered from a bullish zone to a neutral zone. After taking resistance at 60% levels it has turned down indicating the 40% target on RSI. All this implies a significant downside on the stock. Sell the stock on rallies to 383.5-385.5 for a target of 371-365 with a stop loss of 388.5.
Stock of the day:
Sun TV
The stock has formed a bearish dark cloud cover in the daily charts. This candlestick has formed near the 61.8% retracement of the fall from recent highs of 400 till 375. This increases the significance of the bearish pattern. Also Relative strength index (RSI) has entered from a bullish zone to a neutral zone. After taking resistance at 60% levels it has turned down indicating the 40% target on RSI. All this implies a significant downside on the stock. Sell the stock on rallies to 383.5-385.5 for a target of 371-365 with a stop loss of 388.5.
No comments:
Post a Comment