Nifty opened with a gap up of 6 points at 6803 and made a high of 6817. As expected the markets went down to test the 6780 level and made a low of 6783. Once tested the market bounced back to 6819 high.The 6820 resistance pushed the markets down to 6777 levels. The bleak global outlook indicates a gap down opening in the markets. The 6700 level is expected to act as strong support. The hourly chart shows a rising channel break down on hourly charts. The target for this is at 6700.
The support for nifty is at 6754-6706-6687 and the resistance lies at 6795-6820-6848. Nifty April Future has been trading at 16-17 points premium to
the spot. The implied volatility on the Nifty April Options of ATM strike calls
were at 12.24 and for puts were at 13.86. India VIX closed at 28.7175. PCR for
Nifty based on open interest was at 1.02 and PCR for the day based on volumes
was at 0.93 for the market.
CASH MARKET:
FII 5030.87 - 4688.12 = 342.75 Cr.
DII 1881.94 - 1868.49 = 13.45Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1980.49 | 2335.41 | -354.91 |
| INDEX OPTIONS | 13791.16 | 11679.59 | 2111.57 |
| STOCK FUTURES | 4006.54 | 4360.49 | -353.95 |
| STOCK OPTIONS | 2195.03 | 2232.61 | -37.58 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| The United Nilgiri Tea Estates Company Limited | Interim Dividend Of Re.1/- Per Share (10)% For The Financial Year 2013-2014 | 11-Apr-14 | 15-Apr-14 |
| SKF India Limited | Annual General Meeting / Dividend - Rs 7.50/- Per Share (Book Closure End Date Revised) | 11-Apr-14 | - |
STOCKS IN NEWS:**
Tata Moors Ltd: Tata Motors launched an updated version of its crossover vehicle Aria, with price starting at Rs 9.95 lakh (ex-showroom Delhi).Bajaj Auto Ltd: With the Maharashtra State Government recently announcing its plans to issue 81.450 replacement auto-rickshaw permits, Bajaj Auto expects 3 wheeler demand to rise.
Tata Steel Ltd: Tata Steel Ltd is working on absorbing its unit Kalimati Investment Co. Ltd, a move that may help shore up its stand-alone equity and simplify its structure after the sale of a patch of land owned by the subsidiary last month that helped pare debt.
IndusInd Bank Ltd: Foreign investors would now have to get prior permission from the Reserve Bank for buying shares in IndusInd Bank as such investment limit in the entity has reached the trigger limit.
Suzlon Energy Ltd: Wind power major Suzlon Energy plans to sell Rs 1,000 crore of non-core assets to cut debt, Chairman and Managing Director Tulsi Tanti said today.
Natco Pharma Ltd: Natco Pharma Ltd has formally asked the Indian patent office to deny U.S. drugmaker Gilead Sciences Inc's new hepatitis C drug Sovaldi a patent in India, a source with direct knowledge of the matter said.
Crompton Greaves Ltd: Avantha Group firm Crompton Greaves Ltd has bagged a contract from Power Grid Corporation of India Ltd (PGCIL) to supply six sub-station automation systems (SAS) in Jharkhand.
STOCKS IN BAN PERIOD:
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Source:**economictimes.com , nseindia.com
Stock of the day:
TataMotors:
Tatamotors has given a breakout of an Inverted Head & shoulders pattern of past six months. The target for this pattern lies at 544 with stop loss of 375. The target is expected to be achieved in next 90 days and delivery can be bought till the 400 level. The stock can be bought for short term with stop loss of 423 and target of 439-454.
Tatamotors has given a breakout of an Inverted Head & shoulders pattern of past six months. The target for this pattern lies at 544 with stop loss of 375. The target is expected to be achieved in next 90 days and delivery can be bought till the 400 level. The stock can be bought for short term with stop loss of 423 and target of 439-454.
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