Nifty opened flat at 7528 but went up to make the high of 7637. As I had mentioned yesterday that the market looks poised to move up, the day definitely saw the move of more than 100 points. Although the market has filled the Bullish Rising gap at 7483-7507, but the gap has provided the necessary support. The market has now established a broader range of 7690-7485. I expect the market to test the 7690 levels again and hence buying is recommended.
The support for nifty is at 7550-7495-7445 and the resistance lies at 7660-7700-7735. Nifty June Future has
been trading at 16-17 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 13.9 and for puts were at 16.66. India VIX closed at 17.695.
PCR for Nifty based on open interest was at 0.96 and PCR for the day based on
volumes was at 0.9 for the market.
CASH MARKET:
FII 4641.02 - 4593 = 48.02Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2011.53 | 2201.26 | -189.73 |
| INDEX OPTIONS | 16377.55 | 14447.53 | 1930.02 |
| STOCK FUTURES | 2737.93 | 3970.93 | -1233.00 |
| STOCK OPTIONS | 2787.35 | 2824.87 | -37.53 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Nakoda Limited | Annual General Meeting / Dividend - Re 0.30/- Per Share | 18-Jun-14 |
| CESC Limited | Annual General Meeting / Dividend - Rs 8/- Per Share | 18-Jun-14 |
| Value Industries Limited | Annual General Meeting | 18-Jun-14 |
| Phillips Carbon Black Limited | Annual General Meeting | 18-Jun-14 |
STOCKS IN NEWS:**
Reliance Industries Ltd: The oil & gas major Reliance Industries will be hosting its 40th Annual General Meeting later today. This AGM is seen to be special as it comes at a time when a new pro-business government is at the Centre.
SpiceJet Ltd: Budget carrier SpiceJet extended its special monsoon fare offer with a starting ticket price of Rs 1,999 (all inclusive) pan-India, a day after the newly-launched AirAsia India announced Kochi as its third destination in the network at an all inclusive fare of Rs 500.
Bharti Airtel Ltd: India's leading mobile carrier Bharti Airtel launched 4G services on mobile in Kolkata Tuesday, which will enable customers to experience 4G data speeds on select smartphones.
SAIL: Government could sell a 5 per cent stake in state-run Steel Authority of India Ltd , with a final decision expected next week, two sources directly involved in the process told Reuters.
Hero MotoCorp Ltd: India's largest two-wheeler maker, Hero MotoCorp, plans to set up a plant in South India, its sixth overall, to cater to the domestic market and take its overall annual capacity to 12 million units.
Kotak Mahindra Bank Ltd: Kotak Mahindra Bank (KMB) proposes to raise the ceiling for FII investments in the bank to 40% from 37% to help it comply with RBI directive to bring down its current promoter stake by one-fourth in little over next two and half years.
MTNL Ltd: The government has said that it will initiate steps to revive ailing telecom PSUs MTNL and BSNL as it looks to arrest the gradual decline in the fortunes of the two companies that once dominated the Indian telecom market.
Cairn India Ltd: Cairn IndiaBSE 1.71 % has received environmental nod for raising crude oil production from its prolific Rajasthan fields by 50 per cent to 300,000 barrels per day (15 million tons a year).
Tata Steel Ltd: India's largest steelmaker by production, has sought shareholders' approval to raise debt of up to Rs 14,000 crore through privately placed securities, which may even be convertible into equity shares, according to a company filing on the bourses.
Cipal Ltd: Pharmaceutical firm Cipla on Tuesday said it has acquired 60% stake in a new company in Sri Lanka for $14 million (nearly R85 crore) to market its products in the country, said media reports.
Cipal Ltd: Pharmaceutical firm Cipla on Tuesday said it has acquired 60% stake in a new company in Sri Lanka for $14 million (nearly R85 crore) to market its products in the country, said media reports.
STOCKS IN BAN PERIOD:
DISHTV
IBREALEST
L&TFH
UNITECH
IBREALEST
L&TFH
UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
SBIN
The stock has formed a bullish engulfing pattern on the daily charts. The stock has been in a sideways to down movement after making the top of 2835. The stock now looks poised to further advance the move towards the 2750 levels. Buy the stock with the stop loss of 2620 closing basis for the target of 2670-2695-2750.
The stock has formed a bullish engulfing pattern on the daily charts. The stock has been in a sideways to down movement after making the top of 2835. The stock now looks poised to further advance the move towards the 2750 levels. Buy the stock with the stop loss of 2620 closing basis for the target of 2670-2695-2750.
target 1 achieved high of 2684 on 18th June
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