Nifty opened with a gap up of 13 points at 7375 and made a high of 7425. The RBI in line with the street expectations kept the key policy rates unchanged but cut SLR. The Dovish tone of the policy makers surged the market higher to close above the 7400 level. The market is forming a triangle and is likely to move slightly down before continuing its upward journey. A break of 7450 will take market towards the all time high of 7563.
The support for nifty is at 7380-7333-7261 and the resistance lies at 7430-7489-7546. Nifty June Future has
been trading at 7 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 11.24 and for puts were at 16.96. India VIX closed at 15.795.
PCR for Nifty based on open interest was at 0.85 and PCR for the day based on
volumes was at 0.8 for the market.
CASH MARKET:
FII 5615.85 - 5040.76 = 575.09Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1948.26 | 2080.73 | -132.47 |
| INDEX OPTIONS | 13156.83 | 12724.65 | 432.18 |
| STOCK FUTURES | 3960.59 | 3417.00 | 543.58 |
| STOCK OPTIONS | 2135.55 | 2139.63 | -4.08 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Page Industries Limited | Interim Dividend - Rs.16/- Per Share | 4-Jun-14 | 5-Jun-14 |
| India Motor Parts and Accessories Limited | Interim Dividend - Rs 9/- Per Share (Purpose Revised) | 4-Jun-14 | 5-Jun-14 |
STOCKS IN NEWS:**
ONGC: State-owned Oil and Natural Gas Corp ( ONGC) has paid a whopping Rs 272,721 crore in fuel subsidy over the past 11 years, denting its profitability.
RIL Ltd: Reliance Jio Infocomm signed a tower sharing deal with Ascend Telecom Infrastructure, which will help the telecom unit of Reliance Industries roll out its much-awaited high speed data and voice services faster and at a lower cost across India.
Coal India Ltd: Coal India plans to form a panel of consultants which would help the PSU in acquiring, developing and operating coal mines overseas. The coal major is eyeing assets abroad to meet the domestic demand.
JK Lakshmi Cement: The Cement major said its Rs 1,500 crore manufacturing facility at Durg in Chhattisgarh will start production by the October-December quarter taking the overall capacity to around 10 million tonnes per annum.
Tata Motors Ltd: Tata Motors has teamed up with e-commerce player eBay India to sell branded merchandise of its sports utility vehicle Tata Safari Storme online.
Biocon Ltd: Bristol-Myers Squibb, the NYSE listed global pharma major and Syngene International, the contract research subsidiary of India's largest publicly held biotechnology company - Biocon, have announced a five-year extension of their drug discovery and development collaboration in India, said media reports.
Wockhardt Ltd: Pharmaceutical company Wockhardt's troubles with the US Food and Drug Administration (USFDA) with respect to the quality of its manufacturing processes across its facilities don't appear to end, said media reports.
United Spirits Ltd: USL is looking at sourcing bulk scotch whisky from its UK-based promoter Diageo when an agreement with Whyte and Mackay (W & M) ends in mid-2017.
Idea Cellular Ltd: Idea Cellular, India's third largest wireless services operator, plans to raise Rs 3,000- 3,750 crore this week by selling shares to institutional investors, bankers familiar with the development said.
JSW Steel Ltd: JSW Steel has identified 16 iron ore mines to bid for in Karnataka's impending auctions based on the deposits found, its deputy managing director Vinod Nowal told ET.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Reliance:
The stock has formed a Bullish harami pattern and given its confirmation on the daily charts, with good volumes. The stock is likely to move upwards towards the top of 1145. The stock can be bought with the stop loss of 1065 for the target of 1102-1116-1125.
The stock has formed a Bullish harami pattern and given its confirmation on the daily charts, with good volumes. The stock is likely to move upwards towards the top of 1145. The stock can be bought with the stop loss of 1065 for the target of 1102-1116-1125.
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