Nifty opened with gap up of 17 points and zoomed past the resistance of 6355 easily. The markets kept trading in the range of 30 points in the first trading session. However the European market openings pulled the market towards the 6400 levels. The nifty failed to take out the previous high of 6415. But it might be taken out today with a gap up opening. The higher call opening for writing indicated further upside from here, on the election boom. If the 6415 resistance holds then the market may see some profit booking.
The
support for nifty is at 6355-6300-6270 and the resistance lies at 6415-6456-6525.
Nifty March Future has been trading at 29-30 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 11.45
and for puts were at 13.09. India VIX closed at 14.47. PCR for Nifty based on
open interest was at 1.07 and PCR for the day based on volumes was at 1.0 for
the market.
CASH MARKET:
FII 4038.74 - 2765.81 = 1272.93 Cr.
DII 989.17 - 1556.27 = (567.1) Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2611.03 | 1649.70 | 961.33 |
| INDEX OPTIONS | 14538.65 | 13200.58 | 1338.07 |
| STOCK FUTURES | 2800.31 | 2453.90 | 346.41 |
| STOCK OPTIONS | 1305.11 | 1322.44 | -17.33 |
STOCKS IN NEWS:**
SpiceJet Ltd: Media baron Kalanithi Maran owned SpiceJet announced the appointment of Kaneswaran Avili as its new Chief Commercial Officer. Prior to this, Avili was serving TigerAirways in Singapore as its Commercial Director, a company statement said.
Lupin Ltd: Drug firm Lupin today said it has received US health regulator USFDA'S approval to market a generic version of Bayer's Cipro, used to treat infections, in the American market.
SAIL: Noting that exports by SAIL are likely to go up in coming years, a high-level panel has asked the state-run PSU to look into possibilities of strengthening presence in international market by setting up offices abroad.
Era Infra Engineering Ltd: EIEL has secured contracts worth Rs 128 crore in Maharashtra from Mumbai Railway Vikas Corporation (MRVCL) for escalators and other provisions at some stations in Mumbai.
Bharti Airtel Ltd: Standard & Poor's Ratings Services said that it had raised its long-term corporate credit rating on Bharti Airtel Ltd. to 'BBB-' from 'BB+'. The outlook is stable.
United Breweries Ltd: UB Group chairman Vijay Mallya has pledged another portion of his holding in his beer company, United Breweries. Kamsco Industries, a UB group company, has said it pledged 2.9 million share of United Breweries, maker of the country's largest selling Kingfisher beer, said media reports.
Reliance Communications Ltd: Reliance Globalcom, the international unit of India's Reliance Communications Ltd, is no longer up for sale and may raise debt or equity to fund its expansion plans, Globalcom's newly installed chief executive said.
NCC Ltd: Rating agency CrisilBSE 0.45 % has downgraded its ratings on the debt instruments and bank facilities of the city-based infrastructure major NCC Ltd, said media reports.
Manappuram Finance Limited: MFL announced the public issue of non-convertible debentures aggregating Rs 100 crore (with an option to retain over-subscription up to Rs 100 crore) for a tenure ranging from 400 days to 70 months, saiod media reports.
Sun Pharmaceutical Industries: India's biggest drugmaker by market value, is looking for partnerships or acquisitions to enter Japan, an especially lucrative market for manufacturers of low-cost drugs, said media reports.
Lupin Ltd: Drug firm Lupin today said it has received US health regulator USFDA'S approval to market a generic version of Bayer's Cipro, used to treat infections, in the American market.
SAIL: Noting that exports by SAIL are likely to go up in coming years, a high-level panel has asked the state-run PSU to look into possibilities of strengthening presence in international market by setting up offices abroad.
Era Infra Engineering Ltd: EIEL has secured contracts worth Rs 128 crore in Maharashtra from Mumbai Railway Vikas Corporation (MRVCL) for escalators and other provisions at some stations in Mumbai.
Bharti Airtel Ltd: Standard & Poor's Ratings Services said that it had raised its long-term corporate credit rating on Bharti Airtel Ltd. to 'BBB-' from 'BB+'. The outlook is stable.
United Breweries Ltd: UB Group chairman Vijay Mallya has pledged another portion of his holding in his beer company, United Breweries. Kamsco Industries, a UB group company, has said it pledged 2.9 million share of United Breweries, maker of the country's largest selling Kingfisher beer, said media reports.
Reliance Communications Ltd: Reliance Globalcom, the international unit of India's Reliance Communications Ltd, is no longer up for sale and may raise debt or equity to fund its expansion plans, Globalcom's newly installed chief executive said.
NCC Ltd: Rating agency CrisilBSE 0.45 % has downgraded its ratings on the debt instruments and bank facilities of the city-based infrastructure major NCC Ltd, said media reports.
Manappuram Finance Limited: MFL announced the public issue of non-convertible debentures aggregating Rs 100 crore (with an option to retain over-subscription up to Rs 100 crore) for a tenure ranging from 400 days to 70 months, saiod media reports.
Sun Pharmaceutical Industries: India's biggest drugmaker by market value, is looking for partnerships or acquisitions to enter Japan, an especially lucrative market for manufacturers of low-cost drugs, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
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