Nifty opened with a gap up of 17 points at 6792.5 and made a high of 6813. The WPI inflation shoot up to 7-month high put a dampener on the markets. The market went down to the lows of 6711 as stayed sideways for rest of the trading day.The previous swing low of 6705 is very important support. It is not only a low from which new rally was started but it also marks the lower trend line of channel. I expect the markets to move lower towards the 6650 levels once the 6701-6705 gap is filled. On the 120 minutes time frame the market has given the break of double top formation. The target for which lies at 6670 levels.
The support for nifty is at 6700-6664-6577 and the resistance lies at 6783-6820-6848. Nifty April Future has been trading at 18-19 points premium to
the spot. The implied volatility on the Nifty April Options of ATM strike calls
were at 14.33 and for puts were at 12.67. India VIX closed at 31.875. PCR for
Nifty based on open interest was at 1.07 and PCR for the day based on volumes
was at 0.99 for the market.
CASH MARKET:
FII 3695.95 - 3717.58 = -21.63 Cr.
DII 1150.09 - 1428.36 = -278.27 Cr.
FII DERIVATIVES MARKET:
| In Cr | Buy | Sell | Net |
| INDEX FUTURES | 1546.98 | 2575.52 | -1028.54 |
| INDEX OPTIONS | 13419.65 | 13273.65 | 146.00 |
| STOCK FUTURES | 3383.70 | 3582.91 | -199.22 |
| STOCK OPTIONS | 3028.04 | 3164.29 | -136.26 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Advanta Limited | Annual General Meeting | 16-Apr-14 |
| Styrolution ABS (India) Limited | Annual General Meeting / Dividend - Rs 4/- Per Share | 16-Apr-14 |
| Sanofi India Limited | Annual General Meeting/Dividend Rs 35/- Per Share | 16-Apr-14 |
STOCKS IN NEWS:**
TCS Ltd: Tata Consultancy Services, India's largest software company, will be announcing its fourth quarter results post market hours today. The company is likely to report a revenue growth of 2.5 per cent, Q-o-Q while its net profit is expected to be lower due to forex hit.
Crompton Greaves Ltd: Hitachi, the Japanese maker of industrial power equipment and electronic goods, has emerged as the front-runner to buy the promoter's stake in Crompton Greaves, a power transmission and distribution company owned by billionaire Gautam Thapar, two persons familiar with the development said.
SpiceJet Ltd: Kalanithi Maran-owned low-cost carrier has merged the 'fuel surcharge' component in airfares along with its base fares, as it attempts to bring transparency to the customers in terms of what portion of the ticket prices ultimately goto the airline.
Tata Steel Ltd: Tata Steel said both its domestic annual production and sales hit record levels in 2013-14 at 9.15 million tonnes and 8.52 million tonnes, respectively.
Glenmark Pharmaceuticals Ltd: The pharma major has got $5 million as a milestone payment from Sanofi for a new drug to treat chronic auto-immune disorders, taking total payments received till date to $55 million.
Reliance Industries Ltd: The Oil Ministry is moving the Cabinet to allow Reliance Industries ( RIL) retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.
IOC Ltd: Indian Oil Corp Ltd will cut retail prices of petrol by 1.2 per cent from Wednesday as the rupee has strengthened against the dollar since the last revision, it said in a statement on Tuesday.
DCB Bank: The lender reported an almost 15 per cent jump in net profit at Rs. 39.07 crore in the March quarter. It had registered a new profit of Rs. 34.11 crore for the corresponding quarter a year ago.
Jet Airways Ltd: In a move which could affect the Jet - Etihad deal or start-up carriers like Tata-SIA or AirAsia India, DGCA has made it clear that foreign airlines or investors would not have the right to control the management of an Indian carrier.
Jubilant FoodWorks Ltd: Foreign institutional investors (FIIs) would be able to purchase up to 55 per cent of the paid-up capital in Jubilant FoodWorks, which operates Domino's Pizza brand in the country.
AstraZeneca Pharma India: The company's board, in a meeting held on Tuesday, deferred consideration of seeking approval of shareholders of the company through postal ballot for the delisting of equity shares of the company proposed by the promoters, AstraZeneca Pharma India said in a filing to the BSE.
Crompton Greaves Ltd: Hitachi, the Japanese maker of industrial power equipment and electronic goods, has emerged as the front-runner to buy the promoter's stake in Crompton Greaves, a power transmission and distribution company owned by billionaire Gautam Thapar, two persons familiar with the development said.
SpiceJet Ltd: Kalanithi Maran-owned low-cost carrier has merged the 'fuel surcharge' component in airfares along with its base fares, as it attempts to bring transparency to the customers in terms of what portion of the ticket prices ultimately goto the airline.
Tata Steel Ltd: Tata Steel said both its domestic annual production and sales hit record levels in 2013-14 at 9.15 million tonnes and 8.52 million tonnes, respectively.
Glenmark Pharmaceuticals Ltd: The pharma major has got $5 million as a milestone payment from Sanofi for a new drug to treat chronic auto-immune disorders, taking total payments received till date to $55 million.
Reliance Industries Ltd: The Oil Ministry is moving the Cabinet to allow Reliance Industries ( RIL) retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.
IOC Ltd: Indian Oil Corp Ltd will cut retail prices of petrol by 1.2 per cent from Wednesday as the rupee has strengthened against the dollar since the last revision, it said in a statement on Tuesday.
DCB Bank: The lender reported an almost 15 per cent jump in net profit at Rs. 39.07 crore in the March quarter. It had registered a new profit of Rs. 34.11 crore for the corresponding quarter a year ago.
Jet Airways Ltd: In a move which could affect the Jet - Etihad deal or start-up carriers like Tata-SIA or AirAsia India, DGCA has made it clear that foreign airlines or investors would not have the right to control the management of an Indian carrier.
Jubilant FoodWorks Ltd: Foreign institutional investors (FIIs) would be able to purchase up to 55 per cent of the paid-up capital in Jubilant FoodWorks, which operates Domino's Pizza brand in the country.
AstraZeneca Pharma India: The company's board, in a meeting held on Tuesday, deferred consideration of seeking approval of shareholders of the company through postal ballot for the delisting of equity shares of the company proposed by the promoters, AstraZeneca Pharma India said in a filing to the BSE.
STOCKS IN BAN PERIOD:
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Source:**economictimes.com , nseindia.com
Stock of the day:
TCS:
As shown above TCS has been consolidating for past several days in the form of Ascending triangle. It has given breakout with good volumes. The stock can be bought at cmp 2352 and on the declines to 2206 for pattern target of 2311 with stop loss of 2100. For short term it can bought for target of 2274-2300 with stop loss of 2230.
As shown above TCS has been consolidating for past several days in the form of Ascending triangle. It has given breakout with good volumes. The stock can be bought at cmp 2352 and on the declines to 2206 for pattern target of 2311 with stop loss of 2100. For short term it can bought for target of 2274-2300 with stop loss of 2230.
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