As expected the Index tested the lower levels of 6560 before resuming its up move. The market made new high of 6595 but respected the 6600 resistance level mentioned yesterday. The option data indicates that a move towards 6650 can happen over the next few days. The levels of 6600 can be breached by a gap up opening, as per the previous trend of Nifty. The market is making a steady move, taking time to consolidate before moving up. The expiry can be well above the 6650 levels.
The
support for nifty is at 6573-6526-6492 and the resistance lies at 6612-6664-6696.
Nifty March Future has been trading at 19-20 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 24.61
and for puts were at 14.15. India VIX closed at 16.92. PCR for Nifty based on
open interest was at 1.14 and PCR for the day based on volumes was at 1.07 for
the market.
CASH MARKET:
FII 3943.77 - 2720.49 = 1223.28 Cr.
DII 1177.46 - 1721.86 = (544.4) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 5482.11 | 5135.57 | 346.54 |
| INDEX OPTIONS | 14614.25 | 13564.63 | 1049.63 |
| STOCK FUTURES | 14562.99 | 15294.42 | -731.44 |
| STOCK OPTIONS | 1753.29 | 1865.25 | -111.96 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose | Record Date |
| 26-Mar-14 | OM Metals Infraprojects Limited | Interim Dividend - Re 0.10/- Per Share | 27-Mar-14 |
| 26-Mar-14 | Oil India Limited | 2nd Interim Dividend - Rs 10/- Per Share (Purpose Revised) | 27-Mar-14 |
| 26-Mar-14 | Neyveli Lignite Corporation Limited | Interim Dividend - Re 1/- Per Share (Purpose Revised) | 27-Mar-14 |
STOCKS IN NEWS:**
TCS Ltd: IT services firm Tata Consultancy Services has won a multi-million dollar multi-year contract from energy sector major GDF Suez to standardise CRM and billing applications across France, Belgium and the Netherlands, the company said today.
Coal India Ltd: The Competition Commission has ordered a fresh probe into allegations that state-run Coal India and one of its subsidiaries abused their dominant position in the market for production and supply of coal.
Alstom India Ltd: Alstom has bagged a contract estimated at 40 million by Bhel for supplying three 660 mw supercritical boilers for North Karanpura Super Thermal Power Project (STPP) located in Jharkhand. The units are expected to be commissioned by 2017.
Gujarat NRE Coke: In a statement Gujarat NRE Coke Ltd (GNCL) has claimed to have received the formal approval for the restructuring of the debts, from the Empowered Group of Corporate Debt Restructuring Cell (CDR).
Jet Airways: Jet Airways (India) Ltd's acting chief executive officer (CEO) Ravishankar Gopalakrishnan has resigned, according to two people close to the development, becoming the fifth senior executive at the airline to quit since it sold a 24% stake to Etihad Airways PJSC last year.
MCX: Country's largest commodity exchange MCX, part of crisis-hit Jignesh Shah-led FTIL group, may be barred from launching fresh contracts if it fails to bring down promoter's stake to two per cent, said media reports.
Dena Bank: State-run Dena Bank on Tuesday said it will raise Rs 366 crore through a preferential allotment of shares to the public sector insurers Life Insurance Corporation of India and General Insurance Corporation, said media reports.
Max India Ltd: Max India founder Analjit Singh will relinquish his position as executive chairman of the company and will function as its non-executive chairman from April 1, as he steps down from an executive role to focus on strategy and governance. This was formally approved by the company's board on Tuesday.
Tata Motors Ltd: Tata Motors is mulling increasing prices of its commercial vehicles portfolio by about 1 per cent, while Renault is yet to come out with the quantum of the hike.
Federal Bank Ltd: Federal Bank, a part of the consortium that had given loans to Kingfisher Airlines, has recovered Rs 10 crore till date and is making efforts to get back the remaining dues from the beleaguered carrier.
Coal India Ltd: The Competition Commission has ordered a fresh probe into allegations that state-run Coal India and one of its subsidiaries abused their dominant position in the market for production and supply of coal.
Alstom India Ltd: Alstom has bagged a contract estimated at 40 million by Bhel for supplying three 660 mw supercritical boilers for North Karanpura Super Thermal Power Project (STPP) located in Jharkhand. The units are expected to be commissioned by 2017.
Gujarat NRE Coke: In a statement Gujarat NRE Coke Ltd (GNCL) has claimed to have received the formal approval for the restructuring of the debts, from the Empowered Group of Corporate Debt Restructuring Cell (CDR).
Jet Airways: Jet Airways (India) Ltd's acting chief executive officer (CEO) Ravishankar Gopalakrishnan has resigned, according to two people close to the development, becoming the fifth senior executive at the airline to quit since it sold a 24% stake to Etihad Airways PJSC last year.
MCX: Country's largest commodity exchange MCX, part of crisis-hit Jignesh Shah-led FTIL group, may be barred from launching fresh contracts if it fails to bring down promoter's stake to two per cent, said media reports.
Dena Bank: State-run Dena Bank on Tuesday said it will raise Rs 366 crore through a preferential allotment of shares to the public sector insurers Life Insurance Corporation of India and General Insurance Corporation, said media reports.
Max India Ltd: Max India founder Analjit Singh will relinquish his position as executive chairman of the company and will function as its non-executive chairman from April 1, as he steps down from an executive role to focus on strategy and governance. This was formally approved by the company's board on Tuesday.
Tata Motors Ltd: Tata Motors is mulling increasing prices of its commercial vehicles portfolio by about 1 per cent, while Renault is yet to come out with the quantum of the hike.
Federal Bank Ltd: Federal Bank, a part of the consortium that had given loans to Kingfisher Airlines, has recovered Rs 10 crore till date and is making efforts to get back the remaining dues from the beleaguered carrier.
STOCKS IN BAN PERIOD:
| HDIL |
| IBREALEST |
| L&TFH |
Source:**economictimes.com , nseindia.com
Stock of The Day:
Fedral bank:
This stock has been in a steady decline similar to many other banking stocks. However the stock has broken out of the previous top and tested it yesterday. The stock is ready to resume its upward journey. It can bought for the day with 90 as stop loss and 93-94.5 as target.
Stock of The Day:
Fedral bank:
This stock has been in a steady decline similar to many other banking stocks. However the stock has broken out of the previous top and tested it yesterday. The stock is ready to resume its upward journey. It can bought for the day with 90 as stop loss and 93-94.5 as target.
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