Nifty opened with a gap up of 7 points at 7325 and made a high of 7344. The market consolidated for most of the session between the 7300 and 7340 levels. The market is moving in a tight channel of 50 points. The market is likely to move upwards for the expiry as long as 7300 is protected on the downside. The expiry is likely to occur towards the 7350 level.
The support for nifty is at 7311-7277-7228 and the resistance lies at 7366-7420-7472. Nifty May Future has
been trading at 7-8 points premium to the spot. The implied volatility on the
Nifty May Options of ATM strike calls were at 18.86 and for puts were at 13.13. India VIX closed at 17.5575.
PCR for Nifty based on open interest was at 0.8 and PCR for the day based on
volumes was at 0.76 for the market.
CASH MARKET:
FII 5553.09 - 5839.63 = -286.54Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 6603.54 | 5889.11 | 714.44 |
| INDEX OPTIONS | 14614.43 | 14956.29 | -341.85 |
| STOCK FUTURES | 17060.99 | 17649.07 | -588.08 |
| STOCK OPTIONS | 2750.37 | 2694.15 | 56.22 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Bank of Maharashtra | Annual General Meeting | 29-May-14 | - |
| Assam Company India Limited | Annual General Meeting | 29-May-14 | - |
| Infosys Limited | Annual General Meeting / Final Dividend - Rs 43/- Per Share | 29-May-14 | - |
| Chemfab Alkalis Limited | Annual General Meeting / Dividend - Rs 1.25/- Per Share | 29-May-14 | - |
| State Bank of India | Annual General Meeting And Dividend Rs 15 Per Share (Purpose Revised) | 29-May-14 | - |
| Yes Bank Limited | Annual General Meeting And Dividend Rs.8 Per Share | 29-May-14 | - |
| Oil Country Tubular Limited | Annual General Meeting / Dividend - Rs 2/- Per Share | 29-May-14 | - |
| Advani Hotels & Resorts (India) Limited | Interim Dividend - Re 0.24/- Per Share | 29-May-14 | 30-May-14 |
STOCKS IN NEWS:**
Infosys Ltd: In yet another high-profile exit from the country's second largest IT services exporter, Infosys' President & Member of the Board, BG Srinivas resigned on Wednesday. Srinivas' resignation will be effective from June 10, 2014.
Reliance Industries Ltd: The Comptroller and Auditor General of India (CAG) has slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over Reliance Industries' KG-D6 block which led to losses of several hundred millions of dollars to the exchequer.
Tata Motors Ltd: Tata Motors, India's largest automaker by revenue, said its domestic operations would likely not post a profit or would have "inadequate" profit for the fiscal year that ended in March, hurt by sluggish demand.
Trent Ltd: Fair trade regulator CCI has cleared British retail major Tesco's purchase of a 50 per cent stake in Tata Group firm Trent Hypermarket, the first FDI transaction in multi-brand retail since the sector was opened up in 2012.
TVS Motors Company Ltd: With the launch of its new 110cc commuter motorcycle 'Star City Plus', TVS Motor Company is expected to add an additional five per cent market share to its existing nine per cent in the two-wheeler segment in Tamil Nadu, a top company official said on Wednesday.
SAIL: Steel Authority of India Ltd today reported a marginal 1.35 per cent increase in standalone net profit to Rs 452.58 crore in the quarter ended March 31, as expenses climbed.
Prakash industries Ltd: Prakash Industries reported 60 per cent jump in net profit at Rs 62.36 crore for quarter ended March 31, 2014 on the back of higher sales and "strengthening" of steel prices.
Hero MotoCorp Ltd: Hero MotoCorp, country's largest two-wheeler maker, today reported 3.44 per cent decline in its standalone net profit for the fourth quarter ended March 31, 2014 at Rs 554.43 crore.
Hindustan Zinc Ltd: The new government will go ahead with its predecessor's plan to sell minority stakes the government holds in formerly state-run companies Hindustan Zinc Ltd and Bharat Aluminum Co.
HPCL: State-owned Hindustan Petroleum Corp ( HPCL) today reported a better than expected fourth quarter net profit of Rs 4,609.24 crore after it got lump sum fuel subsidy. Net profit of Rs 4,609.24 crore in January-March beat street estimate of Rs 3,170-3,460 crore but was lower than Rs 7,679.31 crore net profit in the same period a year ago, said media reports.
Godrej Industries Ltd: Diversified major Godrej Industries posted a 22.02 per cent rise in net profit at Rs 114.3 crore for the fourth quarter ended March 31. The company had reported net profit of Rs 93.67 crore in the corresponding quarter a year ago.
Aurobindo Pharma Ltd: Tokyo-based Otsuka Pharmaceutical has filed a patent infringement suit against Aurobindo Pharma in the district court of New Jersey. The company filed the case following a Paragraph IV certification as part of Aurobindo's filing of an ANDA to manufacture a generic version of Otsuka's Abilify, (aripiprazole), used to treat bipolar disorder and schizophrenia, said media reports.
Escorts Ltd: Tractor maker Escorts Ltd today posted 15.18 per cent decline in its net profit at Rs 31.78 crore for the January-March quarter ended March 31, 2014.
HDFC Ltd: The Housing Development Finance Corporation(HDFC), India's largest mortgage lender, on Wednesday launched its first private bond issue in 2014-15 to raise up to Rs 1,000 crore, offering about 9.13% for a 366-day maturity.
JK Tyres: JK Tyre and Industries reported 36 per cent decline in net profit at Rs 44.96 crore for the fourth quarter ended March 31, 2014. The company had reported consolidated net profit of Rs 70.35 crore in the January-March quarter of 2012-13
Reliance Industries Ltd: The Comptroller and Auditor General of India (CAG) has slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over Reliance Industries' KG-D6 block which led to losses of several hundred millions of dollars to the exchequer.
Tata Motors Ltd: Tata Motors, India's largest automaker by revenue, said its domestic operations would likely not post a profit or would have "inadequate" profit for the fiscal year that ended in March, hurt by sluggish demand.
Trent Ltd: Fair trade regulator CCI has cleared British retail major Tesco's purchase of a 50 per cent stake in Tata Group firm Trent Hypermarket, the first FDI transaction in multi-brand retail since the sector was opened up in 2012.
TVS Motors Company Ltd: With the launch of its new 110cc commuter motorcycle 'Star City Plus', TVS Motor Company is expected to add an additional five per cent market share to its existing nine per cent in the two-wheeler segment in Tamil Nadu, a top company official said on Wednesday.
SAIL: Steel Authority of India Ltd today reported a marginal 1.35 per cent increase in standalone net profit to Rs 452.58 crore in the quarter ended March 31, as expenses climbed.
Prakash industries Ltd: Prakash Industries reported 60 per cent jump in net profit at Rs 62.36 crore for quarter ended March 31, 2014 on the back of higher sales and "strengthening" of steel prices.
Hero MotoCorp Ltd: Hero MotoCorp, country's largest two-wheeler maker, today reported 3.44 per cent decline in its standalone net profit for the fourth quarter ended March 31, 2014 at Rs 554.43 crore.
Hindustan Zinc Ltd: The new government will go ahead with its predecessor's plan to sell minority stakes the government holds in formerly state-run companies Hindustan Zinc Ltd and Bharat Aluminum Co.
HPCL: State-owned Hindustan Petroleum Corp ( HPCL) today reported a better than expected fourth quarter net profit of Rs 4,609.24 crore after it got lump sum fuel subsidy. Net profit of Rs 4,609.24 crore in January-March beat street estimate of Rs 3,170-3,460 crore but was lower than Rs 7,679.31 crore net profit in the same period a year ago, said media reports.
Godrej Industries Ltd: Diversified major Godrej Industries posted a 22.02 per cent rise in net profit at Rs 114.3 crore for the fourth quarter ended March 31. The company had reported net profit of Rs 93.67 crore in the corresponding quarter a year ago.
Aurobindo Pharma Ltd: Tokyo-based Otsuka Pharmaceutical has filed a patent infringement suit against Aurobindo Pharma in the district court of New Jersey. The company filed the case following a Paragraph IV certification as part of Aurobindo's filing of an ANDA to manufacture a generic version of Otsuka's Abilify, (aripiprazole), used to treat bipolar disorder and schizophrenia, said media reports.
Escorts Ltd: Tractor maker Escorts Ltd today posted 15.18 per cent decline in its net profit at Rs 31.78 crore for the January-March quarter ended March 31, 2014.
HDFC Ltd: The Housing Development Finance Corporation(HDFC), India's largest mortgage lender, on Wednesday launched its first private bond issue in 2014-15 to raise up to Rs 1,000 crore, offering about 9.13% for a 366-day maturity.
JK Tyres: JK Tyre and Industries reported 36 per cent decline in net profit at Rs 44.96 crore for the fourth quarter ended March 31, 2014. The company had reported consolidated net profit of Rs 70.35 crore in the January-March quarter of 2012-13
STOCKS IN BAN PERIOD:
| HDIL |
| UNITECH |
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Tata Motors:
The stock has been moving in a rising channel from the 384 level to the life high of 465. The stock has broken a rising wedge formation on RSI. The stock can be shorted with stop loss of 444 on the rallies till 435 for the target of 416-404-390-370.
today's low 409.7 target1 achieved moving towards target 2.
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