Nifty Daily For 1st July 2014

                   Nifty opened with a gap up of 25 points at 7534 and made a high of 7624. The market build the entire day on the morning gains. The support of 7480 once again stood strong. It boosted market above the last weeks trading range with closing at 7611. In the Friday's Daily report I had mentioned a strong possibility of market moving up, as long as 7480 hold. Since then the market has moved by more than 140 points up. The market has broken out of the falling channel consolidation. The target of this lies at 7790 with the stop loss of 7540. The market is likely to test 7600 before moving further up.The RSI has also moved above the support of 60% level, seconding the up move.

                    The support for nifty is at 7587-7532-7490 and the resistance lies at 7645-7693-7725. Nifty July Future has been trading at 12-13 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.51 and for puts were at 19.23. India VIX closed at 17.8725. PCR for Nifty based on open interest was at 0.85 and PCR for the day based on volumes was at 0.77 for the market.

CASH MARKET:

FII                   5228.56  -   3940.4  =   1288.16Cr.

DII                  1644.57  -   1825.8  =   -181.23Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1294.42	1618.65	-324.23
INDEX OPTIONS	6575.43	6303.52	271.92
STOCK FUTURES	2993.77	3135.02	-141.25
STOCK OPTIONS	1305.08	1269.63	35.45

STOCKS IN NEWS:**

Reliance Industries Ltd: Reliance Industries will defer investments in developing newer fields like R-Cluster in KG-D6 block if the government does not hike gas prices to make them economically viable to produce.

IndusInd Bank Ltd: Private sector lender IndusInd Bank launched tractor and farm equipment finance vertical to cater to financial needs of agricultural community.

IOC, BPCL, HPCL: State oil marketing companies on Tuesday raised the price of petrol by Rs 2 a litre, the biggest increase in nine months in Delhi, as international gasoline rates have surged and the rupee has depreciated following unrest in Iraq.

Havells India Ltd: Electrical goods manufacturer Havells India has undertaken a sub-division of its equity shares of Rs 5 into Rs one each after getting the mandatory approval from its board.

Union Bank of India: State-owned Union Bank of India has proposed to raise Rs 1,386 crore through Qualified Institutional Placement ( QIP) to fund its business growth.

TCS LTD: Fair trade watchdog CCI has cleared the proposed joint venture between Tata Consultancy Services and Mitsubishi Corp, saying the deal would not have adverse impact on competition in India

Adani Ports Ltd: Adani Ports and SEZ, India's largest port operator, is seeking further acquisitions after taking over Dhamra port on the east coast recently. It's looking to buy a port on the southeast coast to strengthen its presence across the country, two people familiar with the matter told ET.

Anant Raj Ltd: Anant Raj Group plans to exit its hospitality business to pare debt; it will now solely focus on its core real estate projects. The developer is also selling a 2-acre property in the Lutyens' area in Delhi at an approximate value of Rs.500 crore, said media reports.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Adani Power
The Stock has been moving in a symmetrical triangle. The stock price can move towards the 65 levels now. The pattern price target is at 67 with the stop loss of 61.Buy the stock for the target of 63.55-64.35 with the stop loss of 62.25.

Weekly Nifty For 30th June - 4th July 2014

    This entire week the market stayed in the tight range. The market mostly traded with the negative bias. The loner the market stays in the range of 7600-7480. The support zone of 7500-7480 was tested successfully multiple times during the week. A breach of this zone will start the market correction. At the start of the week the easing tension in Middle East saw markets rise, but the markets failed to solidify on these gains.
    Nifty opened the week at 7514, made a high of 7593, low of 7441 and closed the week at 7508. Thus the Nifty closed the week with a minor loss of 3 points. This in itself imbibes the indecisive nature of the market. On Friday, Nifty formed a small black body candle forming a Harami Cross. This pattern formed in a sideways consolidation phase, does have only meager significance. On the weekly chart Nifty has formed a Doji formation which can still be a part of the Mat Hold pattern. Thus daily as well as weekly formations point towards consolidation with a bearish bias in the near term. On short term timeframe, this implies a Correction of the immediate rise from 7118 to 7700 and the corresponding supports are at 7477-7409-7340.
    The market is continuing its Time correction, which is essentially a price move post the strong Parabolic price rise. The market is corrected from near the price target of the daily well as weekly Flag pattern target which was at 7705. While moving higher the market has left behind two Bullish Rising Gaps out of which the first between 7497-7484 is already acting as a strong Support by supporting the market for the entire last week. The fact that, this gap coincides with the 38.2% Retracement of the immediate price move from7118-7700.
    If & when this above mentioned Support zone is breached, the price correction is expected to intensify. The markets will test the second Bullish Rising Gap between 7067-7020. This gap coincides with 61.8% Retracement level at 7044 of Nifty move from 6638 to 7700. A breach of this will reverse the current rally.
    When the market overcame the previous top and made fresh lifetime highs, it marked the end of six year consolidation. On the weekly charts Nifty has completed a Bullish Saucer formation and the targets as per that will fall at 8145 which are likely to be achieved within a period of next 20 months.
    Nifty has just closed below the short term average of 20dma (7539). But they are still above the medium term average of 50dma (7208) and the long term average of 200dma (6461). Thus the trend in the short term has turned bearish but that in the medium term and the long term timeframe continues to remain bullish.
    RSI has reduced to 56 suggesting a reduction in bullish momentum. Besides it also exhibits negative divergence of the first order. Stochastic Oscillator continues in Sell mode as %K is below %D. MFI has reduced dramatically to 29, suggesting that money flow out of the market. OBV has started making lower top, lower bottom formation. The Directional Indicators continue in Buy mode as +DI is above –DI but they are converging. The Buy signal on Bollinger Band was negated this week when both the indices closed below the mean of Bollinger Band. ADX has dropped slightly and is now at a level of 45 which suggests that the strength of the current uptrend is very high but the trend has now matured. Hence Oscillator analysis suggests remaining cautious as some correction in the current uptrend can be expected.
    Highest Call writing is seen at the strike of 8000 and highest Put writing is at the strike of 7000. With the budet being tabled during this month, the market is expecting a very big range between 7000 and 8000. Friday saw strong buildup at 7600 Call and 7300 Put suggesting a short term trading range between 7600 and 7300.

Stock of the Week:
ICICIBANK

The stock has been in consolidating after making the life time high of 1593. It has broken a falling channel which has strong bearish implication, Also the Stock price has closed below the 50DMA for the first time since March 2014. The RSI is also moved below the 40% level. Overall the stock is bearish in nature. The stock can be shorted with the stop loss of 1445 for the target of 1290. For short term the stock can be shorted with the stop loss of  1407 closing basis for the target of 1352-1325-1305.

Nifty Daily For 27th June 2014

                   Nifty opened with a gap down of 15 points at 7554 and made a high of 7570. The market traded in a range for some time but then it tumbled down towards the support of 7480. As long as the 7470 level is protected on downside the market is stuck in the range of 7470-7590. The market is expected to trade sideways with positive bias.

                    The support for nifty is at 7480-7456-7441 and the resistance lies at 7534-7575-7605. Nifty July Future has been trading at 44-45 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.68 and for puts were at 18.56. India VIX closed at 17.7025. PCR for Nifty based on open interest was at 0.86 and PCR for the day based on volumes was at 0.84 for the market.

CASH MARKET:

FII                   4465.65  -   5067.54  =   -601.89Cr.

DII                  2034.67   -  1863.75  =   170.92Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	5190.20	5036.50	153.70
INDEX OPTIONS	18998.62	18313.21	685.41
STOCK FUTURES	13063.13	14375.78	-1312.65
STOCK OPTIONS	2272.74	1875.39	397.35

CORPORATE ACTION:

Company	Purpose	Ex-Date
Nucleus Software Exports Limited	Annual General Meeting / Final Dividend - Rs 3/- Per Share + Special Dividend - Rs 3/- Per Share	27-Jun-14
Moser-Baer (I) Limited	Annual General Meeting	27-Jun-14
Zuari Agro Chemicals Limited	Annual General Meeting /Dividend - Rs.3/- Per Share	27-Jun-14
Banaras Beads Limited	Annual General Meeting/Dividend - Rs.2/- Per Share	27-Jun-14
VIP Industries Limited	Annual General Meeting And Dividend - Rs 1.20 Per Equity Share	27-Jun-14
Dabur India Limited	Annual General Meeting / Final Dividend - Re 1/- Per Share	27-Jun-14
Kesoram Industries Limited	Annual General Meeting	27-Jun-14
ZUARI GLOBAL LIMITED	Dividend Rs 1 Per Share	27-Jun-14
Blue Star Infotech Limited	Annual General Meeting / Dividend - Rs 4/- Per Share (Book Closure Dates Revised)	27-Jun-14
Vimta Labs Limited	Annual General Meeting/Dividend Rs 2/- Per Share	27-Jun-14
Smartlink Network Systems Limited	Annual General Meeting / Dividend - Rs 2/- Per Share	27-Jun-14

STOCKS IN NEWS:**

Wipro Ltd: Wipro on Thursday said that three of its ten independent directors will be leaving the company, a move that will help the country's third largest software exporter align with the new regulations and also appoint fresh faces.

NTPC Ltd: Stating that some of the power plants of the companies like NTPC and Lanco are facing coal supply problem, the Power Ministry has sought the intervention of Coal and Power Minister Piyush Goyal for an urgent resolution.

Reliance Capital Ltd: Japanese financial services giant Sumitomo Mitsui Trust Holdings Inc may buy a 10% stake in Anil Ambani-owned Reliance Capital by paying $400 million (Rs2,400 crore at current exchange rates) for new shares, a person with direct knowledge of the talks said, signalling bullishness among Japanese companies that seem keen to invest in sectors ranging from pharma to financial services in Asia's third-largest economy.

Infosys Ltd: Infosys continues to lose senior managers as the company saw it's third vice president leave in as many months, thereby exacerbating problems ahead of the incoming chief executive Vishal Sikka.

ITC Ltd: ITC's non-tobacco FMCG business crossed Rs 10,000 crore in brand turnover last fiscal, within 10 years of the Kolkata-based conglomerate foraying into the business.

NALCO: National Aluminium Company Limited (NALCO) has reiterated its commitment to supply hot metal to the proposed Angul Aluminium Park despite operating at reduced capacity due to problems in getting coal for its captive power plants.

MCX & FT Ltd: MCX Board on Thursday paved a way for empowering MCX to transfer Financial Technologies (FT)'s stake in an escrow account and undertake the entire divestment process, said media reports.

Ashok Leyland Ltd: Ashok Leyland Ltd, India's second largest commercial vehicle maker, will be raising Rs635 crore through a qualified institutional placement (QIP) the company said in a filing to the BSE.

Ranbaxy Ltd: After a long spell of regulatory struggle, Ranbaxy Labs would finally launch in the US market, the first generic version of Swiss drugmaker Novartis' Diovan (Valsartan), for which it enjoys a 180 days exclusive marketing opportunity, said two industry executives with direct knowledge of the matter.

STOCKS IN BAN PERIOD:

NIL

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Bata India
The stock had been consolidating in a tight range of 1160-1220 and has finally broken out of it yesterday. The stock can be bought for the target of 1280 with the stop loss of 1202. For the short term buy the stock with the stop loss of 1208 for the target of 1240-1258.

Nifty Daily For 26th June 2014

                   Nifty opened with a gap up of 8 points at 7588 and made a high of 7589. As I had mentioned in the Daily Report on Wednesday, the market failed to breach the 7590 resistance and stayed in very narrow band of 30 points for the entire day. The market is expected to trade sideways with positive bias for the day. A breach of 7590 level will take the market towards the 7650 levels.

                    The support for nifty is at 7547-7513-7480 and the resistance lies at 7595-7645-7700. Nifty June Future has been trading at 7 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 15.14 and for puts were at 12.97. India VIX closed at 18.3125. PCR for Nifty based on open interest was at 1.01 and PCR for the day based on volumes was at 0.95 for the market.

CASH MARKET:

FII                   3739.2   -  3044.57  =   694.63Cr.

DII                  1410.34  -   1843.97   =  -433.63 Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	5682.08	5504.26	177.82
INDEX OPTIONS	10363.84	10926.18	-562.34
STOCK FUTURES	13941.29	14449.96	-508.67
STOCK OPTIONS	1944.14	2063.20	-119.05

CORPORATE ACTION:

Company	Purpose	Ex-Date
Havells India Limited	Annual General Meeting / Final Dividend - Rs 10/- Per Share	26-Jun-14
Gammon Infrastructure Projects Limited	Annual General Meeting	26-Jun-14
IDBI Bank Limited	Annual General Meeting / Dividend - Re 0.275/- Per Share	26-Jun-14
NIIT Technologies Limited	Annual General Meeting / Final Dividend - Rs 9/- Per Share	26-Jun-14
NIIT Limited	Annual General Meeting/Dividend Rs.1.60/- Per Share	26-Jun-14

STOCKS IN NEWS:**

Cairn India, ONGC, Oil India: The Narendra Modi government on Wednesday indicated that it would not be guided by the UPA's formula by deferring for three months a decision on revising price of gas produced from domestic fields.

Reliance Industries Ltd: The government plans to impose an additional penalty of USD 578 million on Reliance IndustriesBSE -0.84 % for producing less-than-targeted natural gas from its eastern offshore KG-D6 block.

Auto stocks are likely to remain in focus after the Finance Minister Arun Jaitley announced the government will extend excise duty cut on automobiles till December 2014.

TCS Ltd: Tata Consultancy Services ( TCS), India's largest software services firm, today said it has been selected by Dutch insurance firm REAAL N V to develop and modernise mainframe applications and servicing the company's life insurance portfolio.

Ruchi Soya Industries Ltd: FMCG firm Ruchi Soya Industries forayed into the ready-to-cook products category under its flagship brand Nutrela and is eyeing a 10 per cent market share in the segment by 2019.

HDFC Bank Ltd: HDFC Bank Ltd. is still awaiting permission from the Foreign Investment Promotion Board (FIPB) to increase the percentage of shares foreign investors can buy in the bank, managing director Aditya Puri told reporters.

Crompton Greaves Ltd: Avantha Group Company CG ( Crompton Greaves), along with the other consortium partners Fabricom and Iemants, has been selected by Van Oord, for the offshore wind project `Gemini' in the Netherlands.

Reliance Communications Ltd:Reliance Communications (RCOM) has raised Rs 6,100 crore from India's largest private sector share sale to institutions and a preferential issue of warrants to promoters as the country's fourth-largest telco strives to cut debt, which has being dragging its finances.

Ashok Leyland Ltd: Ashok Leyland, India's second-largest truckmaker, is planning to raise about Rs 600 crore to Rs 700 crore through an qualified institutional placement to pare debt. Ambit, Kotak Mahindra, and Citigroup have been appointed bankers for this transaction.

Maruti Suzuki Ltd: The largest Indian carmaker, Maruti Suzuki has shut its six plants across Gurgaon and Manesar for eight days in June, as part of the scheduled bi-annual closure for the summer season that would also help the company to adjust its inventory with the sluggish market conditions.

STOCKS IN BAN PERIOD:

DISHTV
GMRINFRA
IBREALEST
UNITECH

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

IDEA Cellular
The stock has broken below the crucial support trendline of the ascending triangle. The pattern target lies at 115 with the stop loss of 140. For the trading short term purpose the stock can be sold at 133.25 for the target of 129.25-125.15 with the stop loss of 138 closing basis.