Nifty opened flat at 7636 as per my expectations and then went to test the resistance of 7660, made a high of 7663. The resistance proved tough for the market to cross and the market went down towards the support of 7500. The political unrest in the middle east is once again proving hindrance to world economy.The market is expected to trade sideways with positive bias. As long as 7500 is protected the correction is muted on the lower side.
The support for nifty is at 7500-7465-7421 and the resistance lies at 7577-7602-7654. Nifty June Future has
been trading at 2-3 points discount to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 15.68 and for puts were at 16.77. India VIX closed at 18.58.
PCR for Nifty based on open interest was at 1.16 and PCR for the day based on
volumes was at 1.08 for the market.
CASH MARKET:
FII 4438.7 - 4072.52 = 366.18Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2583.59 | 2367.46 | 216.13 |
| INDEX OPTIONS | 21071.15 | 21222.07 | -150.92 |
| STOCK FUTURES | 3882.77 | 3574.74 | 308.03 |
| STOCK OPTIONS | 3697.86 | 3717.67 | -19.81 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Union Bank of India | Annual General Meeting And Dividend Rs.1.30/- Per Share | 19-Jun-14 |
| Orbit Exports Limited | Annual General Meeting / Final Dividend - Rs 1.25/- Per Share | 19-Jun-14 |
| 21st Century Management Services Limited | Annual General Meeting | 19-Jun-14 |
| Welspun Corp Limited | Dividend - Re 0.50/- Per Share | 19-Jun-14 |
| NOCIL Limited | Annual General Meeting / Dividend - Re 0.60/- Per Share | 19-Jun-14 |
| Indian Overseas Bank | Annual General Meeting / Final Dividend - Re 0.50/- Per Share | 19-Jun-14 |
| Dena Bank | Annual General Meeting / Final Dividend - Rs 1.10/- Per Share | 19-Jun-14 |
| Welspun India Limited | Annual General Meeting / Dividend - Rs 3/- Per Share | 19-Jun-14 |
STOCKS IN NEWS:**
ZEE Entertainment Ltd: Foreign investor Goldman Sachs today offloaded more than 1.17 crore shares of Zee Entertainment Enterprises Ltd for an estimated Rs 322 crore through open market route.
NTPC Ltd: NTPC's solar power project in Madhya Pradesh, the biggest in the country using domestically manufactured modules, has been commissioned.
Tata Steel Ltd: Moody's Investors Service today affirmed the credit ratings on Tata Steel as well as Tata Steel UK Holdings, saying that their profitability and cash generation are unlikely to deteriorate in the next 12 months.
Reliance Industries Ltd: With delays in regulatory nod and gas price revision frustrating its attempts to reverse falling gas output from the KG-D6 field, BP chief executive Bob Dudley met Petroleum Minister Dharmendra Pradhan to press for early decisions.
Coal India, Sail, MMTC, NMDC, NHPC and Nalco: The finance ministry is working on a road map to divest stake in seven big state-run companies, which include Coal India, Sail, MMTC, NMDC, NHPC and Nalco. The government holds 80% or more stakes in these companies.
Tata Motors Ltd: Automotive major Tata Motors is considering a sponsored American Depository Receipts (ADR) issue after large shareholders with differential voting rights (DVRs) sought an exit through the US bourses.
Reliance Communications Ltd: RComm is looking to raise about $400 million (around Rs.2,400 crore) by selling shares to institutional investors, after rival Idea Cellular Ltd raised Rs.3,000 crore earlier this month in a similar way, said media reports.
Crompton Greaves Ltd: The Compnay has put up a part of its land parcel at LBS Marg in the eastern suburbs of this city for sale. Property consultants say the deal is likely to be announced in 7-10 days, said media reports.
NTPC Ltd: NTPC's solar power project in Madhya Pradesh, the biggest in the country using domestically manufactured modules, has been commissioned.
Tata Steel Ltd: Moody's Investors Service today affirmed the credit ratings on Tata Steel as well as Tata Steel UK Holdings, saying that their profitability and cash generation are unlikely to deteriorate in the next 12 months.
Reliance Industries Ltd: With delays in regulatory nod and gas price revision frustrating its attempts to reverse falling gas output from the KG-D6 field, BP chief executive Bob Dudley met Petroleum Minister Dharmendra Pradhan to press for early decisions.
Coal India, Sail, MMTC, NMDC, NHPC and Nalco: The finance ministry is working on a road map to divest stake in seven big state-run companies, which include Coal India, Sail, MMTC, NMDC, NHPC and Nalco. The government holds 80% or more stakes in these companies.
Tata Motors Ltd: Automotive major Tata Motors is considering a sponsored American Depository Receipts (ADR) issue after large shareholders with differential voting rights (DVRs) sought an exit through the US bourses.
Reliance Communications Ltd: RComm is looking to raise about $400 million (around Rs.2,400 crore) by selling shares to institutional investors, after rival Idea Cellular Ltd raised Rs.3,000 crore earlier this month in a similar way, said media reports.
Crompton Greaves Ltd: The Compnay has put up a part of its land parcel at LBS Marg in the eastern suburbs of this city for sale. Property consultants say the deal is likely to be announced in 7-10 days, 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:
BHEL
The stock has formed a Bearish engulfing on the daily charts near the short term resistance of 20DMA. The stock can be sold with the stop loss of 245 closing basis for the target of 238-234-230.25
The stock has formed a Bearish engulfing on the daily charts near the short term resistance of 20DMA. The stock can be sold with the stop loss of 245 closing basis for the target of 238-234-230.25
Low of 237.15 on 20th June
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