Nifty opened with a slight gap up of 15 points and went on to make a new high of 6591.45. The market took a breather and has been moving in a steady rate. Nifty has broken out of the range of 6560-6430 on the back of strong volume. The target for this lies at 6690. The market is expected to test the 6560 levels before embarking on the journey ahead.
The
support for nifty is at 6560-6515-6474 and the resistance lies at 6598-6621-6670.
Nifty March Future has been trading at 15-16 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 11.8
and for puts were at 14.61. India VIX closed at 16.53. PCR for Nifty based on
open interest was at 1.12 and PCR for the day based on volumes was at 1.07 for
the market. The 6600PE has increased open interest of 46 lakhs, which indicates a strong resistance in short term.
CASH MARKET:
FII 3889.48 - 2423.86 = 1465.62 Cr.
DII 972.7 - 1743.09 = (770.39) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 4710.43 | 3654.52 | 1055.91 |
| INDEX OPTIONS | 18333.93 | 19113.21 | -779.28 |
| STOCK FUTURES | 9340.00 | 9537.92 | -197.92 |
| STOCK OPTIONS | 1827.60 | 1846.91 | -19.31 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose | Record Date |
| 25-Mar-14 | Raj Television Network Limited | Bonus 1:1 / Face Value Split From Rs.10/- To Rs.5/- | 26-Mar-14 |
| 25-Mar-14 | Winsome Diamonds and Jewellery Limited | Annual General Meeting | - |
STOCKS IN NEWS:**
RIL & ONGC: The Election Commission ordered deferment of an increase in gas prices that was to take effect from April 1. The decision will put consumers and producers such as Reliance Industries and ONGC in a quandary because the hike has been stalled after the oil ministry's notification that the new rates would apply from the start of next month.
Jaiprakash Associates: Jaiprakash Associates has signed an agreement to sell 74 per cent stake in the Bokaro cement unit to Dalmia Cement for around Rs 1,200 crore, a source involved with the deal told ET.
Sun Pharma Ltd: Leading bourse National Stock Exchange (NSE) has given its approval for transfer of 'specified therapeutic and investment' business of a Sun Pharma subsidiary into the parent company.
Tata Power Ltd: Tata Power's rights issue worth almost Rs 2,000 crore will open on March 31 and the proceeds will be utilised for capital expenditure and repaying debt.
Maruti Suzuki Ltd: Looking to make the most of a good demand for its latest hatchback, Maruti Suzuki India is planning to double the production capacity of Celerio to 10,000 a month. The current production of hatchback stands at 5,000 a month.
Engineers India Ltd: State-owned Engineers India Ltd (EIL) today said it has won a $40 million contract for the Liwa Plastics project of Oman Refineries and Petroleum Industries Co (Orpic).
MOIL: State-owned manganese producer MOIL is planning to spend about Rs 40 crore on prospecting 11 blocks, involving an area of 597.44 hectares in Nagpur and Bhandara districts of Maharashtra.
M&M and Tata Motors: Mahindra & Mahindra, Honda Cars India and Tata Motors are looking to increase the prices of their models from next month, mainly to offset higher input and operational costs.
Tata Steel Ltd: One of the biggest parcels of land in Mumbai, the 25-acre Tata Steel land in Borivli (E) is believed to have fetched the highest bid of Rs 1,155 crore following a day-long e-auction on Monday. It is rumoured that Oberoi Realty may be the highest bidder.
Marico Ltd: Harsh Mariwala, promoter and CMD of consumer goods firm Marico, is stepping down as managing director of the firm, two officials directly aware of the developments said. Saugata Gupta, current CEO, will take over the day-to-day operations of the maker of Parachute hair oil and Saffola edible oils, they said.
Arvind Ltd: Ahmedabad-based Arvind Ltd has bought out the 49 per cent stake in Premium Garments Wholesale Trading Pvt Ltd, a joint venture that sells fashion brand Calvin Klein in India, for Rs 100 crore.
IOC: IndianOil Corporation might not proceed with its planned acquisition of the West Bengal government's 40 per cent stake in Haldia Petrochemicals Ltd (HPL) if The Chatterjee Group chief Purnendu Chatterjee was appointed HPL chairman, said media reports.
Financial Technologies Ltd: Financial Technologies India Ltd (FTIL) has informed the BSE it has entered into an agreement with GoldenOak (Mauritius) for the sale of stake in Indian Energy Exchange (IEX), an electricity futures trading platform promoted by it. Under the agreement, Golden Oak will buy 1,364,787 equity shares of FTIL in IEX (face value of Rs 10 each) for Rs 72.89 crore.
Jaiprakash Associates: Jaiprakash Associates has signed an agreement to sell 74 per cent stake in the Bokaro cement unit to Dalmia Cement for around Rs 1,200 crore, a source involved with the deal told ET.
Sun Pharma Ltd: Leading bourse National Stock Exchange (NSE) has given its approval for transfer of 'specified therapeutic and investment' business of a Sun Pharma subsidiary into the parent company.
Tata Power Ltd: Tata Power's rights issue worth almost Rs 2,000 crore will open on March 31 and the proceeds will be utilised for capital expenditure and repaying debt.
Maruti Suzuki Ltd: Looking to make the most of a good demand for its latest hatchback, Maruti Suzuki India is planning to double the production capacity of Celerio to 10,000 a month. The current production of hatchback stands at 5,000 a month.
Engineers India Ltd: State-owned Engineers India Ltd (EIL) today said it has won a $40 million contract for the Liwa Plastics project of Oman Refineries and Petroleum Industries Co (Orpic).
MOIL: State-owned manganese producer MOIL is planning to spend about Rs 40 crore on prospecting 11 blocks, involving an area of 597.44 hectares in Nagpur and Bhandara districts of Maharashtra.
M&M and Tata Motors: Mahindra & Mahindra, Honda Cars India and Tata Motors are looking to increase the prices of their models from next month, mainly to offset higher input and operational costs.
Tata Steel Ltd: One of the biggest parcels of land in Mumbai, the 25-acre Tata Steel land in Borivli (E) is believed to have fetched the highest bid of Rs 1,155 crore following a day-long e-auction on Monday. It is rumoured that Oberoi Realty may be the highest bidder.
Marico Ltd: Harsh Mariwala, promoter and CMD of consumer goods firm Marico, is stepping down as managing director of the firm, two officials directly aware of the developments said. Saugata Gupta, current CEO, will take over the day-to-day operations of the maker of Parachute hair oil and Saffola edible oils, they said.
Arvind Ltd: Ahmedabad-based Arvind Ltd has bought out the 49 per cent stake in Premium Garments Wholesale Trading Pvt Ltd, a joint venture that sells fashion brand Calvin Klein in India, for Rs 100 crore.
IOC: IndianOil Corporation might not proceed with its planned acquisition of the West Bengal government's 40 per cent stake in Haldia Petrochemicals Ltd (HPL) if The Chatterjee Group chief Purnendu Chatterjee was appointed HPL chairman, said media reports.
Financial Technologies Ltd: Financial Technologies India Ltd (FTIL) has informed the BSE it has entered into an agreement with GoldenOak (Mauritius) for the sale of stake in Indian Energy Exchange (IEX), an electricity futures trading platform promoted by it. Under the agreement, Golden Oak will buy 1,364,787 equity shares of FTIL in IEX (face value of Rs 10 each) for Rs 72.89 crore.
STOCKS IN BAN PERIOD:
| L&TFH |
Source:**economictimes.com , nseindia.com
Stock of The Day:
SBI
SBI has been the weakest of all the banking sector companies. It has been in a down trend for very long, but now the down trend appears to be over. The stock yesterday managed to close above the 200DMA. It has also broken out of Inverted Head & Shoulders pattern. This is a bullish pattern and the target for this lies around 1950 and stop loss at 1645. The RSI has been steady above 60% for past several days, confirming the bullishness. The stock can bought at 1725 and on declines till 1710 with a stop loss of 1700. The targets are 1745-1766-1785.
Stock of The Day:
SBI
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