Nifty Daily For 3rd April 2014

                   Nifty opened with a gap up of 36 points at 6757 and made a high of 6763.2. On daily charts the market has formed third doji. Although this has bearish implications, a gap down opening or a black body candle will provide the confirmation of reversal. The probable target of 6775 is still intact and should be achieved in this week. Nifty is expected to trade sideways for the first half of trading session...

                    The support for nifty is at 6723-6680-6634 and the resistance lies at 6755-6790-6820. Nifty April Future has been trading at 37-38 points premium to the spot. The implied volatility on the Nifty April Options of ATM strike calls were at 14.06 and for puts were at 14.05. India VIX closed at 21.2165. PCR for Nifty based on open interest was at 1.18 and PCR for the day based on volumes was at 1.05 for the market.

CASH MARKET:

FII                   4650.19     -     4055.52   = 594.67 Cr.

DII                  1455.93     -     1927.71   = (471.78) Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1556.83	1331.79	225.04
INDEX OPTIONS	7956.47	7225.88	730.58
STOCK FUTURES	3890.63	3483.69	406.95
STOCK OPTIONS	1253.81	1242.39	11.42

CORPORATE ACTION:

Company	Purpose	Ex-Date
GlaxoSmithKline Pharmaceuticals Limited	Final Dividend Rs.50/- Per Share	3-Apr-14

STOCKS IN NEWS:**

IDFC: The Reserve Bank of India said on Wednesday it had granted bank licenses to IDFC Ltd and Bandhan Financial Services that would be valid for 18 months and would be subject to the two financial firms fully complying with central bank regulations.

Bharti Airtel Ltd: The global telecommunications services provider with operations in 20 countries across Asia and Africa, and IBM announced that they have signed a new agreement to manage Airtel's infrastructure and application services in India over the next five years.

Ashok Leyland Ltd: Hinduja Group flagship company Ashok Leyland said it has bagged an order worth $ 50 million (nearly Rs 300 crore) from the Zimbabwe government for the supply of 670 vehicles.

Reliance Industries Ltd: Reliance Industries said it secured $ 500 million financing from export credit agency Export Development Canada (EDC).The transaction is among the largest financing packages the EDC has extended in Asia, the company said in a statement.

Wipro Ltd: Wipro has undertaken a major organizational revamp, reshuffling the portfolios of some of its senior leadership and creating new divisions. Pratik Kumar, executive VP-HR at Wipro, has transitioned out of the HR role. Saurabh Govil, senior VP-HR, will now lead the HR function and will report to company CEO T K Kurien.

IDBI: Public sector IDBI Bank has divested its entire 18.95 per cent stake in Stock Holding Corporation of India to IFCI Ltd. "Informed BSE that the bank has divested its entire equity holding of 39,90,000 shares (18.95 per cent) in Stock Holding Corporation of India Ltd. (SHCIL) to IFCI Ltd," IDBI Bank said in a regulatory filing to the exchange.

MTNL Ltd: State-owned Mahanagar Telephone Nigam Ltd has received a total tax refund of ?146 crore for assessment years 2007-08 (111 crore) and 2009-10 (34.94 crore), the company said in an exchange filing. Shares of MTNL gained 2.5 per cent at ?16.15 on the NSE.

Axis Bank Ltd: Axis Bank raised debt security of $ 30.6 million in the international market under Medium Term Note (MTN) programme. The debt security has been raised through its Dubai International Centre branch.

Suzlon Energy Ltd: Suzlon Energy has taken over a wind farm in the US to recover $208 million it said was outstanding from client Edison Mission Energy, which had withheld the payment accusing the Indian wind-turbine maker of supplying defective equipment.

SpiceJet Ltd: SpiceJet claims it recorded 220,000 bookings on Tuesday, as customers lapped up tickets with a base fare of Re 1. Typically, the airline sells 40,000 seats a day. On Tuesday, it had a fare of Re 1 for one or two seats a flight, less than two per cent of its daily inventory, said media reports.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

Stock of the day:

ACC

ACC (1360) had a good rally and now it has formed a bearish harami pattern. The confirmation idgiven in the form of the big black body candle. The stock is expected to retrace towards the levels of 1300 in the short term. IT can shorted with the stoploss of 1373 for the target of 1334-1312-1300 in next 3-4 days.