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.
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.
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.
Reached the 158 levels on Friday 25th April 2014
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