Nifty opened with a gap up of 16 points at 7672 and made a new life time high of 7700. The market however failed to hold the gains and fell in the second half to close 29 points down at 7602. As long as the 7580 support is intact the market should move up towards the 7700 level. The RSI is also near its support seconding the up move.
The support for nifty is at 7580-7522-7483 and the resistance lies at 7690-7720-7755. Nifty June Future has
been trading at 3-4 points discount to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 12.55 and for puts were at 15.58. India VIX closed at 17.06.
PCR for Nifty based on open interest was at 1.03 and PCR for the day based on
volumes was at 0.94 for the market.
CASH MARKET:
FII 4839.57 - 5152.97 = -313.4Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1977.99 | 1900.37 | 77.62 |
| INDEX OPTIONS | 16411.24 | 16550.15 | -138.91 |
| STOCK FUTURES | 4081.15 | 3573.05 | 508.11 |
| STOCK OPTIONS | 3565.99 | 3644.61 | -78.61 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Bank of Baroda | Annual General Meeting / Dividend - Rs.10.50/- Per Equity Share | 12-Jun-14 | - |
| Punjab & Sind Bank | Annual General Meeting / Final Dividend - Re 0.60/- Per Share | 12-Jun-14 | - |
| Navin Fluorine International Limited | Annual General Meeting / Final Dividend - Rs 8.50/- Per Share | 12-Jun-14 | - |
| Allahabad Bank | Annual General Meeting | 12-Jun-14 | - |
| CMC Limited | Annual General Meeting / Dividend - Rs 22.50/- Per Share | 12-Jun-14 | - |
| Axis Bank Limited | Annual General Meeting / Dividend Rs.20/- Per Equity Share | 12-Jun-14 | - |
| HeidelbergCement India Limited | Annual General Meeting | 12-Jun-14 | - |
| Torrent Power Limited | Annual General Meeting / Dividend Rs. 0.50 Per Share | 12-Jun-14 | - |
| R Systems International Limited | Interim Dividend - Re 0.95/- Per Share (Purpose Revised) | 12-Jun-14 | 13-Jun-14 |
STOCKS IN NEWS:**
Future Retail Ltd: Kishore Biyani-promoted Future Retail plans to raise Rs 2,000 crore by issuing shares to promoters and investors as it seeks to pare debt and fund its future growth.
Essar Group stocks will be in focus after the Group plans to sell the Stanlow refinery in Britain, three sources familiar with the matter told Reuters. Essar is seeking to raise $500-$600 million for the plant in the northwest of England, two of the sources said.
Siemens: Siemens is in talks with Mitsubishi Heavy Industries over a joint bid for the energy assets of France's Alstom, a move which could help the German firm overcome antitrust hurdles.
Ranbaxy Laboratories Ltd: The pharma major had filed applications seeking to sell drugs in the US made at its Gurgaon plant, which is not on among those barred by the the US Food and Drug Administration (FDA), said media reports.
Idea Cellular Ltd: Country's third largest telco Idea Cellular Wednesday said it has raised total Rs 3,750 crore from its qualified institutional placement offering and preferential issue to existing shareholder Axiata as the firm creates a war chest for the spectrum auctions later this year.
Bajaj Finserv Ltd: One of India's leading finance companies and the financial services arm of the Bajaj Group - has stumbled upon a fraud where some senior officials of a group company were cutting deals with wealthy customers to hide loan delinquency.
ICICI Bank Ltd: The country's largest private sector lender by assets, has let go 1,200 of its staffers, and a few hundred may be on their way out as part of an exercise to cut flab, two people familiar with the development said.
HPCL, BPCL & IOC: The oil ministry is preparing a fresh proposal for the Cabinet to deregulate diesel, as a projected drop in revenue losses on the fuel to a record low of Rs 1.65 per litre by June 15 provides an opportunity to the new regime to reduce the annual Rs 140,000-crore fuel subsidy burden.
STOCKS IN BAN PERIOD:
HDIL
IBREALEST
UNITECH
DISHTV
IBREALEST
UNITECH
DISHTV
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Bajaj-Finserv
The stock has been moving in sideways trend and can be shorted with 932 as stop loss for the target of 906-898-884.
The stock has been moving in sideways trend and can be shorted with 932 as stop loss for the target of 906-898-884.
All targets achieved.
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