Nifty opened with a gap up of 61 points at 7428 and made a high of 7504. The market remained pretty much sideways gaining at snails pace. However in the last trading hour it tumbled to erase its all gain and close at the loss of 8 points to 7359. The market is expected to move towards the 7300 levels as per the options data. Over all the market is forming a triangle pattern and can start move towards 7485 once it has tested the 7300 level.
The support for nifty is at and the resistance lies at. Nifty May Future has
been trading at 2-3 points premium to the spot. The implied volatility on the
Nifty May Options of ATM strike calls were at 21.62 and for puts were at 22.35. India VIX closed at 19.84.
PCR for Nifty based on open interest was at 0.96 and PCR for the day based on
volumes was at 0.91 for the market.
CASH MARKET:
FII 5744.28 - 5828.41 = -84.13Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 6195.93 | 5861.13 | 334.80 |
| INDEX OPTIONS | 33534.97 | 33716.69 | -181.72 |
| STOCK FUTURES | 18369.63 | 18163.07 | 206.56 |
| STOCK OPTIONS | 4307.51 | 4387.24 | -79.72 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| D-Link (India) Limited | Annual General Meeting/Dividend Re.0.60/- Per Share | 27-May-14 | - |
| MM Forgings Limited | Interim Dividend - Rs 2/- Per Share | 27-May-14 | 28-May-14 |
| Harita Seating Systems Limited | Interim Dividend - Rs 1.50/- Per Share (Purpose Revised) | 27-May-14 | 28-May-14 |
STOCKS IN NEWS:**
Wockhardt: Drug firm Wockhardt reported nearly 78 per cent drop in consolidated net profit at Rs 74.45 crore for the quarter ended March 2014 mainly due to regulatory issues with US and UK health regulators.
India Cements Ltd: Hit by a slump in demand and capacity "overhang", India Cements reported standalone net loss at Rs 30.56 crore for the fourth quarter ended March 31, 2014.
Jubilant Life Sciences Ltd: The company said its subsidiary will receive $147.5 million (over Rs 860 crore) funding from IFC, a member of the World Bank Group, to strengthen its generic drug manufacturing facilities.
Sterlite Technologies Ltd: The Company said its arm Sterlite Grid Ltd has been awarded sixth ultra- mega transmission project (UMTP) on build-own-operate basis by the Ministry of Power.
GAIL Ltd: State gas utility GAIL India on Monday reported a 57 per cent jump in its fourth-quarter net profit on the back of better petrochemical and LPG prices and drop in subsidy outgo.
Praj Industries: The Company said a substantial rise in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 37.69% to Rs 2.05 million from Rs 1.49 million in the same quarter last year.
Sonata Software Ltd: Leading IT services firm Sonata Software Ltd has posted a consolidated net profit of Rs.78 crore for fiscal 2013-14, registering a whopping 159 percent year-on-year (YoY) growth.
United Spirits Ltd: The world's largest spirits maker, Diageo plc, has received approval from Securities and Exchanges Board of India (Sebi) for its proposed open offer to pick up an additional 26% stake in India's largest spirits maker United Spirits Ltd (USL).
Coal India Ltd: Coal India's worker unions are waiting to hear from the new government on its plans for the coal miner and the mining sector before taking a decision on the next course of action, even as they vow to oppose any move to sell more stake in the state-run company.
Infosys: The IT major has interviewed eight internal candidates and finished their evaluations as part of its search for the first non-founder CEO, marking an important stage in the runup to the appointment of a successor to SD Shibulal.
STOCKS IN BAN PERIOD:
UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
ACC
The stock has formed the selling climax pattern on the hourly charts. This indicates a selling exhaustion and has tested the 61.8% Fibonacci retracement from the 1261 to 1458 level. Thus it can be bought with the stop loss of 1336 for the target of 1369-1386-1403.
The stock has formed the selling climax pattern on the hourly charts. This indicates a selling exhaustion and has tested the 61.8% Fibonacci retracement from the 1261 to 1458 level. Thus it can be bought with the stop loss of 1336 for the target of 1369-1386-1403.
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