Nifty opened with a gap up of 22 points at 7515 and made a high of 7593. As mentioned in the Daily Report of Tuesday, the market went up towards the 7550 levels. The market moved with the steady pace towards the resistance of 7600 during the entire session. The war cooling news from Middle East led to drop in crude prices. This boosted the markets further. I expect the market to trade in a range with negative bias for the day. The Resistance of 7590 is crucial for market to move towards the 7660 level. As long as this resistance not taken out, the market will trade in 7490-7590 range.
The support for nifty is at 7545-7513-7460 and the resistance lies at 7600-7645-7700. Nifty June Future has
been trading at 11-12 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 16.78 and for puts were at 13.77. India VIX closed at 19.1875.
PCR for Nifty based on open interest was at 0.97 and PCR for the day based on
volumes was at 0.93 for the market.
CASH MARKET:
FII 3817.74 - 3533.13 = 284.61Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 8105.34 | 7481.77 | 623.57 |
| INDEX OPTIONS | 17441.77 | 17110.95 | 330.81 |
| STOCK FUTURES | 15190.86 | 15470.40 | -279.53 |
| STOCK OPTIONS | 2503.63 | 2662.60 | -158.98 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Shriram Transport Finance Company Limited | Annual General Meeting / Final Dividend - Rs 4/- Per Share | 25-Jun-14 |
| JM Financial Limited | Final Dividend - Re 0.55/- Per Share | 25-Jun-14 |
| Kesar Terminals & Infrastructure Limited | Annual General Meeting / Final Dividend - Rs 1.50/- Per Share | 25-Jun-14 |
| Alstom T&D India Limited | Annual General Meeting / Dividend - Rs 1.80/- Per Share | 25-Jun-14 |
| Swelect Energy Systems Limited | Annual General Meeting / Dividend - Re. 9/- Per Equity Share | 25-Jun-14 |
STOCKS IN NEWS:**
Tata Steel Ltd: There was trouble again at Tata Steel's Greenfield plant at Kalinganagar, in Jajpur district on Monday leading to at least 17 people being injured.
Idea Cellular Ltd: Idea Cellular Tuesday introduced 'No Bill Shock Combo Plan' for its post paid subscribers across four service areas, allowing users to cap usage-linked expenses.
Parsvnath Developers Ltd: The Company expects to raise more than Rs 1000 crore ($167.5 million) over the next 18 months through the sale or joint development of its land assets in southern and western India, the company's chairman said.
TTK Prestige Ltd: Bangalore-based TTK Prestige is betting big on its newly launched low cost water purifier range as it eyes an overall revenue growth of around 15 per cent in the ongoing fiscal.
DLF Ltd: Fair trade regulator CCI has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.
Reliance Infrastructure Ltd: The Bombay High Court has dismissed the petition filed by the Mumbai Metropolitan Region Development Authority (MMRDA) challenging the fare hike of Mumbai Metro by Reliance Infra for the Mumbai Metro rail.
IRB Infrastructure, GMR Infrastructure: In a boost to the infrastructure sector, Ministry of Road Transport and Highways has approved worth over Rs 40,000 crore of highway projects to be implemented in the next couple of years. These projects are in the states of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and the Northeastern region.
EIL: Engineers India Limited (EIL) has been conferred Navratna status by the Union government. The upgraded status will provide the company with enhanced operational and financial autonomy to work in domestic and overseas markets.
Indian Hotels Company: The country's biggest hotel chain, will issue nine compulsorily convertible debenture (CCD) for every 40 equity shares to raise up to Rs 1,000 crore.
STOCKS IN BAN PERIOD:
GMRINFRA
HDIL
IBREALEST
JPASSOCIAT
HDIL
IBREALEST
JPASSOCIAT
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Indian Hotel Company
The Stock is in a strong bull trend and has broken out of the small consolidation on the daily charts. The stock can be bought for the stop loss of 103.35 closing basis for the target of 107.25-109.35-111.75
The Stock is in a strong bull trend and has broken out of the small consolidation on the daily charts. The stock can be bought for the stop loss of 103.35 closing basis for the target of 107.25-109.35-111.75
All targets achieved on the trading day itself.
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