Nifty opened with a gap up on Wednesday above the resistance of 6000-6012 and traded for most part of the day in a range. However the market lost its footing and along with its European pears tumbled down to fill the gap created in the morning session. The expiry day may see the market moving higher towards the 6650 levels. However the expiry seems muted towards the 6600 levels.
The
support for nifty is at 6592-6547-6520 and the resistance lies at 6621-6664-6696.
Nifty March Future has been trading at 13-14 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 14.16
and for puts were at 19.07. India VIX closed at 17.76. PCR for Nifty based on
open interest was at 1.1 and PCR for the day based on volumes was at 1.04 for
the market.
CASH MARKET:
FII 3965.79 - 2961.27 = 1004.52 Cr.
DII 1644.44 - 2000.55 = (356.11)Cr.
FII DERIVATIVES MARKET:
| In Cr | Buy | Sell | Net |
| INDEX FUTURES | 6546.07 | 5661.30 | 884.78 |
| INDEX OPTIONS | 19748.88 | 18845.41 | 903.47 |
| STOCK FUTURES | 12475.01 | 13029.26 | -554.26 |
| STOCK OPTIONS | 2184.11 | 2272.78 | -88.67 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose | Record Date |
| 27-Mar-14 | Marico Limited | Silver Jubilee Third Interim Dividend Re 1.75/- Per Equity Share (Purpose Revised) | 1-Apr-14 |
| 27-Mar-14 | FAG Bearings India Limited | Dividend Rs 6 Per Share | - |
| 27-Mar-14 | Kemrock Industries and Exports Limited | Annual General Meeting | - |
| 27-Mar-14 | Oil & Natural Gas Corporation Limited | Second Interim Dividend - Rs 4.25/- Per Share (Purpose Revised) | 29-Mar-14 |
| 27-Mar-14 | Vikas GlobalOne Limited | Face Value Split From Rs 10/- To Re 1/- | 30-Mar-14 |
| 27-Mar-14 | State Bank of Bikaner and Jaipur | Interim Dividend - Rs 14.30/- Per Share (Purpose Revised) | 31-Mar-14 |
STOCKS IN NEWS:**
TCS Ltd: A leading Saudi Arabian Bank and Tata Consultancy Services ( TCS) have inked a pact to implement a new core banking software platform that is likely to "transform" the bank's customer service delivery system.
Reliance Industries Ltd: RIL won two exploration blocks in Myanmar, the company said in a statement on Wednesday. Also, the Oil Ministry has summoned the oil & major and consumers who use its KG-D6 gas for a meeting later this week to decide on extending sales contract beyond March 31.
JSW Steel Ltd: India's No. 3 steel maker, said it expects imports of metallurgical coal to stay flat at 7-8 million tonnes in 2014/15, indicating its mills will continue to run below capacity due to soft demand and a shortage of iron ore.
Financial Technologies Ltd: The US-based CME Group, one of the world's largest futures and options exchanges; Deutsche Borse, operator of Frankfurt Stock Exchange; R-ADA Group; BSE; and Kotak have lined up to purchase Financial Technologies' (India) (FTIL) stake in commodity bourse MCX, people aware of the development told ET.
CARE Ltd: IL&FS Financial Service has reduced its stake in Credit Analysis and Research (CARE) by two per cent in a transaction valued at Rs 45 crore.
Sesa Sterlite Ltd: A panel set up by Supreme court recommended lifting a ban on iron ore mining in Goa, albeit with conditions that include lowering production. Miners in the state, which exported almost all its ore before the Supreme Court order in October 2012, should limit output to 20 million metric tons, the panel said today in a report.
ONGC, BPCL, HPCL: Connsumers are likely to get a bit of respite from high fuel prices next month as oil marketing companies are expected to cut petrol prices by up to R2 a litre. Also, the government is contemplating whether the companies should increase diesel price by 50 paise or not, said media reports.
State Bank of Travancore: The public sector bank which is an associate of SBI, approved to raise equity capital up to Rs 629 by issuing new shares on rights basis.
STOCKS IN BAN PERIOD:
| HDIL |
| IBREALEST |
Stock of the day:
Wipro
Wipro has had a spectacular run from 330 levels after which the stock has been consolidating for some time. With the market move the stock moved from 528 to 577 levels. The stock is currently trading near the 66.6% levels of this rise One can go long on this stock with 543 as stop loss and 549-552-557 as short term targets.
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