Nifty opened with a gap up of 38 points at 7621 and made a high of 7673. Once the market made high it kept trading in the range of 35 points around the 7645 level. As long as market remain below the resistance of 7681 it is expected to trade in a range. The market can move down to test the 7600 level before moving up. The RSI is also supporting the down move as it is testing an important resistance.
The support for nifty is at 7600-7563-7522and the resistance lies at 7681-7717-7770. Nifty June Future has
been trading at 9-10 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 12.21 and for puts were at 16.56. India VIX closed at 17.095.
PCR for Nifty based on open interest was at 0.9 and PCR for the day based on
volumes was at 0.83 for the market.
CASH MARKET:
FII 5617.07 - 5080.39 = 536.68Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2304.49 | 1940.43 | 364.06 |
| INDEX OPTIONS | 13817.45 | 13488.85 | 328.60 |
| STOCK FUTURES | 3716.95 | 3891.69 | -174.74 |
| STOCK OPTIONS | 2239.71 | 2279.82 | -40.11 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Sundram Fasteners Limited | Second Interim Dividend - Re 1/- Per Share | 10-Jun-14 | 11-Jun-14 |
| VTM Limited | Annual General Meeting / Div - Re. 0.70 Per Share (70%) | 10-Jun-14 | - |
| Oriental Bank of Commerce | Annual General Meeting And Dividend Rs.3.60 Per Share | 10-Jun-14 | - |
STOCKS IN NEWS:**
Maruti Suzuki Ltd: Maruti Suzuki India's recent update on the Gujarat plant, proposed to be implemented by its Japanese parent Suzuki Motor Corp, is "razzle dazzle" and the transaction adds to the complexity of the operating structure, according to proxy advisory firm IiAS.
IOC & Gail India Ltd: Indian Oil Corp, the nation's largest oil firm, is keen on joining gas utility GAIL India Ltd for implementation of the Turkmenistan-Afghanistan- Pakistan-India natural gas pipeline.
JSW Steel Ltd: India's third-largest steel maker, will acquire smaller rival Welspun Maxsteel for about Rs 1,100 crore, two people with direct knowledge the development said, in a move aimed at sourcing cheaper raw material, cutting production cost and strengthening its presence in the northern and western markets.
Eros International Media Ltd: Indian film company Eros International has agreed to acquire a controlling stake in mobile services firm Universal Power Systems Private Limited, which does business under the name Techzone.
Idea Cellular Ltd: The telecom operator informed BSE that the Securities Allotment Committee of the Board of Directors of the Company has decided to close the issue and approved the issuance of 223,880,597 Equity Shares of face value of Rs. 10/- each to qualified institutional buyers (the "QIBs") at an issue price of Rs. 134/- per Equity share, including a premium of Rs. 124/-per Equity Share, aggregating approximately to Rs. 3000 crore.
Tata Global Beverages Ltd: Tata Global Beverages (TGBL) will stick to its core strength of tea, coffee and enhanced water in the next five years and is not considering any foray into the production of other popular beverages like energy drinks, fruit juices, carbonated drinks or tender coconut water, says Ajoy Misra, TGBL MD &CEO.
Tata Power Ltd: Tata Power, the country's biggest electricity generator in the private sector, on Monday said its renewable energy capacity has risen to 1,170MW with the commissioning of its 28.8MW solar plant at Palaswadi in Maharashtra.
HDFC Bank Ltd: HDFC Bank has partly exited its investment in Reliance Ports & Terminals - a group company of Reliance Industries - of 10-year bonds, apparently at a loss after holding on to them for about a year.
GSPC Ltd: Gujarat State Petroleum Corporation (GSPC) is ready to commence commercial production from the Deen Dayal West (DDW) gas field in the Krishna-Godavari basin from July but is awaiting approval of the pricing formula from the Union petroleum ministry, said media reports.
STOCKS IN BAN PERIOD:
DISHTV, IBREALEST, UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Maruti Suzuki:
The stock has been moving in a rising channel in the uptrend. This is likely to continue. Buy the stock with the stop loss of 2400 for the target of 2448-2470-2500.
Target 1 of 2448 & target 2 of 2470 achieved on the trade day itself.
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