Nifty opened 30 points gap up with the strong global market scenario near the resistance of 6330. the markets were soon sold off in order to fill the gap created by the opening. The market is loosing momentum. This is evident from the fact that in spite of opening huge gap up, the markets did not rally. The nifty made high and then went to test the support of 6300. Once market overcomes the resistance of 6355 then it can move towards the levels of 6415. However the trading bise remains positive and the dips should be bought with 6270.
The
support for nifty is at 6300-6270-6220 and the resistance lies at 6355-6415-6450.
Nifty March Future has been trading at 18-19 points premium to the spot. The
implied volatility on the Nifty March Options of ATM strike calls were at 9.97
and for puts were at 13.43. India VIX closed at 13.84. PCR for Nifty based on
open interest was at 1.24 and PCR for the day based on volumes was at 1.14 for
the market.
CASH MARKET:
FII 3103.41 - 2366.12 = 737.29 Cr.
DII 983.98 - 1185.83 = (201.85) Cr.
FII DERIVATIVES MARKET:
| IN Cr. | BUY | SELL | NET |
| INDEX FUTURES | 1556.30 | 928.02 | 628.28 |
| INDEX OPTIONS | 9011.39 | 9367.78 | -356.39 |
| STOCK FUTURES | 2589.71 | 2220.11 | 369.59 |
| STOCK OPTIONS | 1235.82 | 1239.15 | -3.32 |
CORPORATE ACTION:
| Ex-Date | Company | Purpose |
| 6-Mar-14 | Vesuvius India Limited | Anniversary Special Dividend Re.1/- Per Share |
| 6-Mar-14 | L&T Infrastructure Finance Company Limited | Interest Payment |
| 6-Mar-14 | Dwarikesh Sugar Industries Limited | Annual General Meeting |
STOCKS IN NEWS:**
Sanofi India & Glenmark Pharma: French drug-maker Sanofi filed patent infringement petition against Glenmark on cardiac drug Multaq, in the district court of Delaware, on three counts.
According to the petition, the Indian drug maker had submitted its application to seek US Food and Drug Administration's (USFDA's) approval for its generic version of the drug on January 24, 2014.
Tata Power Ltd: The board committee of Tata Power will be meeting on Saturday to finalise on the proposed rights issue to raise Rs 2,000 crore.
Tata Motors Ltd: Tata Motors and Chinese carmaker Chery Automobile are holding talks to explore possible tie-ups, which may include sharing of vehicle platforms, getting access to the market in China for Tata Motors and even helping Chery to enter India, people with knowledge of the matter said.
Alstom India Ltd: Private power gear maker Alstom said it has won a 85 million euro (around Rs 722 crore) contract from state-run BHEL for supplying equipment for Darlipalli thermal power project in Odisha.
Reliance Industries Ltd: With new gas price announcement being held hostage to technicalities, British energy giant BP and Niko Resources of Canada have told Oil Ministry that they are party to the arbitration initiated by Reliance Industries on KG-D6 gas production lagging targets.
AstraZeneca Pharma India Ltd: The Indian arm of Swedish drug maker AstraZeneca Pharmaceuticals AB, has deferred its delisting from the stock exchanges, which had been proposed by its parent company last week.
Manappuram Finance Ltd: The leading gold loan lender, has come out with another public issue of secured, redeemable, non-convertible debentures aggregating to Rs 100 crore to finance capital expenditure.
Samtel India: Foreign investors would not be allowed to buy further shares in technology products maker Samtel India, as their shareholding has crossed the prescribed limit. Reserve Bank said that Samtel has been included in its ban list for purchase of equity shares by NRIs/persons of Indian origin, as the aggregate net purchases of equity shares in the company has reached trigger limit.
Bajaj Auto Ltd: The Pune industrial court on Wednesday restrained workers of the Chakan plant of Bajaj Auto from giving any undertaking, acknowledging wage hike till further hearing in the matter, said media reports.
According to the petition, the Indian drug maker had submitted its application to seek US Food and Drug Administration's (USFDA's) approval for its generic version of the drug on January 24, 2014.
Tata Power Ltd: The board committee of Tata Power will be meeting on Saturday to finalise on the proposed rights issue to raise Rs 2,000 crore.
Tata Motors Ltd: Tata Motors and Chinese carmaker Chery Automobile are holding talks to explore possible tie-ups, which may include sharing of vehicle platforms, getting access to the market in China for Tata Motors and even helping Chery to enter India, people with knowledge of the matter said.
Alstom India Ltd: Private power gear maker Alstom said it has won a 85 million euro (around Rs 722 crore) contract from state-run BHEL for supplying equipment for Darlipalli thermal power project in Odisha.
Reliance Industries Ltd: With new gas price announcement being held hostage to technicalities, British energy giant BP and Niko Resources of Canada have told Oil Ministry that they are party to the arbitration initiated by Reliance Industries on KG-D6 gas production lagging targets.
AstraZeneca Pharma India Ltd: The Indian arm of Swedish drug maker AstraZeneca Pharmaceuticals AB, has deferred its delisting from the stock exchanges, which had been proposed by its parent company last week.
Manappuram Finance Ltd: The leading gold loan lender, has come out with another public issue of secured, redeemable, non-convertible debentures aggregating to Rs 100 crore to finance capital expenditure.
Samtel India: Foreign investors would not be allowed to buy further shares in technology products maker Samtel India, as their shareholding has crossed the prescribed limit. Reserve Bank said that Samtel has been included in its ban list for purchase of equity shares by NRIs/persons of Indian origin, as the aggregate net purchases of equity shares in the company has reached trigger limit.
Bajaj Auto Ltd: The Pune industrial court on Wednesday restrained workers of the Chakan plant of Bajaj Auto from giving any undertaking, acknowledging wage hike till further hearing in the matter, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
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