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.
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.
Reached 800 on 30th April 2014. keep holding for further target.
ReplyDeletetodays high 808.8
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