Nifty Daily For 30th May 2014

                   Nifty opened with a gap up of 7 points at 6769 and made a high of 6779. Although I was expecting a bounce back but looks like the market is no mood of going up. It breached the 6737 support easily along with the RSI. I feel the market is forming a running triangle and might breach the lows of 6665 before bouncing back. The 6700PE saw a good build up and is expected to provide good support. The decreasing volume with each fall means that bull are booking profits before resuming the uptrend. Thus there is strong possibility of market moving up in coming sessions.

                    The support for nifty is at 6700-6665-6615 and the resistance lies at 6743-6786-6818. Nifty May Future has been trading at 49-50 points premium to the spot. The implied volatility on the Nifty May Options of ATM strike calls were at 30.11 and for puts were at 30.89. India VIX closed at 31.05. PCR for Nifty based on open interest was at 1.01 and PCR for the day based on volumes was at 0.9 for the market.

CASH MARKET:

FII                   2736.04     -     2448.06   = 287.98 Cr.

DII                  853.04       -     1403.93    = -550.89 Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1850.86	2278.42	-427.56
INDEX OPTIONS	5263.64	5696.26	-432.63
STOCK FUTURES	2500.59	3191.11	-690.51
STOCK OPTIONS	720.39	721.80	-1.40

CORPORATE ACTION:

Company	Purpose	Ex-Date
Geodesic Limited	Annual General Meeting	30-Apr-14

STOCKS IN NEWS:**

Wockhardt Ltd: Generic drugmaker Wockhardt Ltd denied on Tuesday a media report that said U.S. drugmakers Mylan Inc and Pfizer Inc were in talks with the company to buy some of its assets.

Bharti Airtel Ltd: Bharti Airtel Ltd, India's top mobile phone carrier, reported a surge in quarterly profit, in line with expectations, as reduced competition in the world's second-biggest mobile phone market helped push call prices higher.

HDFC Bank Ltd: The government could consider exempting investment by majority foreign-owned housing finance companies from a five-year-old rule while calculating overseas holding in sectors where it is limited, a move that will give a breather to HDFC Bank.

Delta Corp Ltd: Delta Corp, India's largest and only listed company in the gaming and casino segment came under the scanner of the income tax authorities on Tuesday for alleged tax evasion, three people familiar with the matter told ET Now, adding that a related probe also covered Peninsula Land Limited, the real estate arm of the Ashok Piramal Group.

Sesa Sterlite Ltd: Sesa Sterlite fell 1.37 per cent to Rs 190.40 after consolidated net profit as per adjusted proforma basis fell 31.34 per cent to Rs 1222 crore on 7.05 per cent rise in net sales to Rs 20784 crore in Q4 March 2014 over Q3 December 2013.

Financial Technologies Ltd: Financial Technologies, which has 26 per cent stake in MCX, today rejected the PwC special audit report on the corporate governance issue at the commodity exchange and said it will take legal action against the bourse and PwC for painting a wrong picture in the report.

Federal Bank: Private sector lender Federal Bank reported 25 per cent increase in net profit to a Rs 227.3 crore for the quarter ended March. Net interest income was up 30 per cent in the end of the fourth quarter, at Rs 625.08 crore.

Shriram Transport Finance Ltd: Shriram's net profit fell 17% to Rs294.96 crore in quarter ended 31 March, compared with Rs355.22 crore in the year-ago period. Net interest income rose to Rs912 crore from Rs892.96 crore a year ago.

ING Vysya Bank: Private sector ING Vysya Bank reported an 18 per cent drop in net profit at Rs 139.1 crore in the March quarter, dragged down by a Rs 61 crore provision for superannuation of some of its employees.

IoB: Indian Overseas Bank has reported a net profit of Rs 268.3 crore for the quarter ended March 31, 2014, compared with Rs 58.8 crore for the same period last financial year.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Godrej Consumer Products

The stock moved from the lows of 667 to the highs of 986. After hitting the high the stock is moving more or less in side ways direction. The stock has formed a bullish hammer with exceptional volumes on the daily charts indicating up move in near future. The stock RSI has also taken support at 40 today and has started moving up. The stock can be bought with stop loss of 673 for the target of 818 in short term. 

Nifty Daily For 29th May 2014

                   Nifty opened with a flat gap down of 4 points at 6778 and made a high of 6782. Once the market filled the gap it went down to the lows of 6750. The market is moving pretty much in the range of 30 points for most of the session. It picked the momentum with positive European market opening and made the 6786 high of the day. As I have been expecting for past week the market has finally made to 6750 levels. The RSI on the hourly charts shows that market has reached a support zone and can possibly bounce back on Tuesday. I expect the market to remain range bound with positive bias as long as 6750 is protected on the down side.

                    The support for nifty is at 6737-6700-6686 and the resistance lies at 6780-6804-6826. Nifty April Future has been trading at 61-62 points premium to the spot. The implied volatility on the Nifty April Options of ATM strike calls were at 31.51 and for puts were at 30.64. India VIX closed at 31.385. PCR for Nifty based on open interest was at 0.9 and PCR for the day based on volumes was at 0.8 for the market.

CASH MARKET:

FII                   3541.13     -     3464.11    = 77.02Cr.

DII                     931.52     -     1302.05   = -370.53Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	953.41	1191.35	-237.94
INDEX OPTIONS	4992.39	4452.49	539.90
STOCK FUTURES	2646.64	2749.45	-102.80
STOCK OPTIONS	834.81	762.70	72.11

CORPORATE ACTION:

Company	Purpose	Ex-Date
R Systems International Limited	Annual General Meeting /Dividend Rs.0.95 Per Equity Share	29-Apr-14

STOCKS IN NEWS:**

Idea Cellular Ltd: Telecom operator Idea Cellular on Monday posted over 91 per cent jump in consolidated net profit at Rs. 589.77 crore for the last quarter of 2013-14 on the back of expansion in both voice minutes and mobile data volume.

Bharti Airtel Ltd: The telecom operator is expected to report a 65 per cent QoQ rise in net profit number to Rs 1007 crores for the quarter ended March 31, as compared to Rs 610.20 crores reported in the year-ago period, according to an ET Now Poll.

Dabur India Ltd: The company is expected to report 17 per cent YoY rise in net profit number to Rs 235 crores for the quarter ended March 31, as compared to Rs 200.50 crores reported in the year-ago period.

AstraZeneca Pharma India Ltd: Britain's AstraZeneca urged its shareholders to take no action over the approach by US drugmaker Pfizer Inc on Monday and said it remained confident in its independent strategy.

Aurobindo Pharma Ltd: Three multinational drug makers - The Medicines Company, Hospira and Kowa Company Ltd, in separate cases - have dragged Indian firm Aurobindo Pharma to court on allegations of patent infringement.

Cholamandalam Investment and Finance Company Limited (CIFCL): The financial services arm of the Murugappa Group, posted a marginal 6% rise in fourth-quarter net profit, as lower commercial vehicle disbursements offset gains in home equity business.

Cipla Ltd: The National Pharmaceutical Pricing Authority (NPPA) recently issued fresh showcause notices to the company, asking why a Rs 105-crore fine shouldn't be imposed.

GMR Infrastructure Ltd: GMR Infrastructure Ltd on Monday said it has withdrawn plans to list its unit GMR Energy Ltd, within a month of filing a draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (Sebi).

JSPL Ltd: Naveen Jindal's JSPL group has commissioned a greenfield 2 million tonne (mt) steel plant in Sohar, Oman at an investment of $800 million.

ITC Ltd: ITC is foraying into the e-commerce business with its Wills Lifestyle retailing business and plans to set up standalone exclusive outlets for its sub-brands such as casual wear Wills Sports, work wear Wills Classic, and exclusive men and women wear stores.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

 BPCL

The stock moved up from the lows of 432 to the all time high of 493. The stock after taking the resistance at weekly trendline has been moving down for past two days. It has formed a gravestone doji with good volumes. The RSI on the daily charts is also near its support, Thus the stock can be bought at 456 with stop loss of 451 for the target of 468-473-480.

Weekly Nifty For 28th April- 2nd May 2014

             This week the market move has been a  roller coaster ride, with markets hitting the all time high 6870 on expiry and then closing below the weekly opening at 6782. Historically May is considered a bearish month with the famous saying "Sell In May And Go Away". The India VIX is already at three year high and is likely to continue its journey north. So a traditionally turbulent month with high volatility calls in for a cautious trading strategies. The sensitive situation with Ukraine is also a cause of concern for the market.

             Nifty opened the week at 6789, made a high of 6869, low of 6772 and closed the week at 6782. Thus the Nifty closed the week with a small gain of just 3 points. On the daily charts Nifty have formed a Bearish Engulfing pattern which is a bearish reversal pattern occurring at the top. A bearish candle on monday will further strengthen the reversal. On the weekly charts, Nifty has formed a Shooting star (small body) formation with long upper shadow, indicating selling pressure at higher levels. Thus both daily as well as weekly charts suggest a short term bearish bias.

             The Fibonacci retracement of the move from 6432 to 6869 has support at 6702-6651-6599. The 50% Retracement level coincides with the intermediate bottoms at 6665 & 6650. Thus the market has a strong Support Zone between 6665-6650. If and when this support zone is breached conclusively the correction of higher degree i.e. of the move 5933 to 6869 will start.

             Nifty has completed a Bullish Flag pattern when Nifty closed above 6562. The pattern has a potential targets lies at 6915 and 7190. These targets remain valid till Nifty trades above the intermediate low of 6432. The market has a Bullish Upward Gap at 6413-6403. This Bullish Gap has been tested when the markets moved from 6432 to 6869. Thus on any correction this gap will act as strong support. As per the Gap theory this Measuring Gap provides the target of 6886, Which has been more or less been achieved this week. The market has completed a six year consolidation on the monthly charts. The potential target of this pattern at 10480 remains valid till 6350 is not breached conclusively. On the long term investing front the market is buy on dips. This rally started from a low of 5933 and hence this bullish rally remains valid till the market stays above the 5933 levels.

                 Nifty has been trading above the short term average of 20dma (6732), the medium term average of 50dma (6476) and the long term average of 200dma (6115). The 20DMA was tested last week so it is likely to be provide some support this week as well. Thus the trend in the short term, medium term and the long term time frame continues to remain bullish.

                 RSI @61 has reduced slightly but still suggests Bullish momentum. MFI @49 has dropped centerline and hence suggests money flow out of the market. Stochastic Oscillator is in Sell mode as %K is below %D. ADX @37 has reduced slightly indicates that the uptrend might be consolidating. The Directional Indicators continue in Buy mode as +DI continues to remain above -DI. OBV continues in Buy mode. The market continue with their Buy signal on Bollinger Band. Some of the Oscillators have turned bearish and some are showing negative divergence, So the trader should trade cautiously and start booking profits.

                Open Interest Put Call Ratio for the May series is at a reduced level of 1.04 which indicates a balance for call & put. Highest Open interest build up is seen at 7000 Call and 6500 Put. Thus the market expects a trading range with support at 6500 levels and resistance around 7000 levels. The May rollover has been lowest in past three months at 60%. 

Stock of the Week:

Ambuja Cements

 

The Stock has been moving in an uptrend since hitting the bottom of 150, in a perfect rising channel. This channel on the weekly charts has been broken. The potential target for this is at 190 with a stop loss of 218. On the RSI charts a double top break down can be seen, which further confirms the bearishness. The stock can be sold till the levels of 213 for the targets of 200-194-190.

Nifty Daily For 25th April 2014

                   Nifty opened with a gap up of 6 points at 6822 and made a high of 6853. In spite of the expiry day the market remained subdued, with positive bias. The market shot up only in the last half an hour on the back of short covering. Thus the market is expected to trade range bound with negative bias on Friday. The main action will be seen in the banking stocks like ICICIBank, Axisbank which are declaring their results on Friday. On the intraday hourly charts it can be seen that market is taking strong resistance at 70 levels and has formed a negative divergence with price charts.

The markets can test the 6800 levels before moving to higher targets.

                    The support for nifty is at 6826-6800-6774 and the resistance lies at 6875-6893-6925. Nifty April Future has been trading at 58-59 points premium to the spot. The implied volatility on the Nifty April Options of ATM strike calls were at 25.06 and for puts were at 31.58. India VIX closed at 31.1325. PCR for Nifty based on open interest was at 1.03 and PCR for the day based on volumes was at 0.99 for the market.

CASH MARKET:

FII                  5607.62      -      4840.01   = 767.61 Cr.

DII                  1732.51      -     2266.39   =-533.88 Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	6083.45	4373.43	1710.02
INDEX OPTIONS	15279.89	13995.53	1284.36
STOCK FUTURES	14933.25	15886.09	-952.84
STOCK OPTIONS	1982.49	1878.93	103.56

CORPORATE ACTION:

Company	Purpose	Ex-Date
ABB India Limited	Annual General Meeting/Dividend Rs 3/- Per Share	25-Apr-14
CRISIL Limited	Interim Dividend - Rs 3/- Per Share (Purpose Revised)	25-Apr-14

STOCKS IN NEWS:**

 Bharti Infratel Ltd: Telecom tower company Bharti Infratel reported a sharp 64 per cent increase in consolidated net profit for the quarter ended March 2013, helped by higher tenancies and rentals as operators invested in their data networks using 3G and 4G technologies.

Indian Hotels Company Ltd: Tata group hospitality major, Indian Hotels Company Ltd (IHCL), has sought market regulator Sebi's approval to raise Rs 1,000 crore through issue of debentures on rights basis.

Indiabulls Housing Finance Ltd: The Company reported 23 per cent rise in net profit at Rs 451.5 crore for the quarter ended March 31, 2014. Total revenues of the Company rose to Rs 1,568.63 crore for the quarter (January-March) under review, up from Rs 1,333.89 crore in the corresponding quarter of previous fiscal.

Cairn India Ltd: Cairn India net profit in the January-March quarter rose to Rs 3,035 crore, or Rs 15.85 per share, from Rs 2,564 crore, or Rs 13.41 a share, a year ago, the company said in a statement.

Deepak Fertilisers & Petrochemicals Corporation: Pune-based Deepak Fertilisers & Petrochemicals Corporation announced an open offer on Wednesday to buy additional 26 per cent stake in Mangalore Chemicals & Fertilisers (MCF), mounting a takeover bid to wrest control of the Vijay Mallya-owned fertiliser company.

Wockhardt Ltd: Indian drugmaker Wockhardt Ltd, which has been hit by a slew of overseas regulatory rebukes due to poor production quality, said the regulator in Himachal Pradesh has suspended the manufacture and sale of a product.

"The state's drug controller suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg, Tramadol Hydrochloride IP 50mg and Acetamenophen IP 325mg, the company said in a statement on Wednesday," Reuters reported.

ACC Ltd: ACC, India's second largest cement maker, has posted a decline of 8.7% in its net profit for the quarter ended March, 2014.

Ambuja Cements Ltd: The cement major reported 6.57 per cent increase in standalone net profit of Rs 520 crore during the January-March quarter mainly on account of higher income.

Edelweiss Financial Services Ltd: The brokerage firm announced on Wednesday its board had approved a buy-back of shares at a maximum of Rs 45 each. The price is at a 30 per cent premium to Wednesday's closing of Rs 34.6 on the BSE.

Biocon Ltd: Insulin and biological drug maker Biocon Ltd posted 53% drop in net profit at Rs.119 crore in the March quarter of fiscal 2014, as against Rs.251 crore in the year-ago period.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

DLF cmp 152.35

DLF has been moving in the steady down trend although the market was moving up. It has corrected its entire up move from 130 to 186 by 61.8% of the Fibonacci retracement level. Also on daily charts it has formed a Bullish hammer with good volumes. The stock also is near the support on the RSI charts. Thus it can be bought for the target of 157-160 levels with stop loss of  151.