Nifty opened flat at 7417 and made a high of 7433 near the resistance of 7430. The market went down to 7399 and the 7400 support pushed it up. Essentially the market stayed in the 30 point range. As I mentioned yesterday the market is forming a symmetrical triangle, the market is expected to move down towards the support of 7360 level.
The support for nifty is at 7366-7330-7244 and the resistance lies at 7405-7445-7489. Nifty June Future has
been trading at 8-9 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 12.2 and for puts were at 16.43. India VIX closed at 15.565.
PCR for Nifty based on open interest was at 0.88 and PCR for the day based on
volumes was at 0.78 for the market.
CASH MARKET:
FII 5200.31 - 5007.75 = 192.56 Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net | Column1 |
| INDEX FUTURES | 673.27 | 1318.59 | -645.32 | 10296.51 |
| INDEX OPTIONS | 6562.71 | 6473.57 | 89.14 | 50091.14 |
| STOCK FUTURES | 3551.60 | 2762.90 | 788.70 | 54003.14 |
| STOCK OPTIONS | 1670.94 | 1714.66 | -43.72 | 2395.33 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Capital First Limited | Annual General Meeting And Dividend Rs.2 Per Share | 5-Jun-14 |
| ICICI Bank Limited | Annual General Meeting/Dividend Rs.23/- Per Share | 5-Jun-14 |
| Ramkrishna Forgings Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 5-Jun-14 |
| HDFC Bank Limited | Annual General Meeting And Dividend - Rs.6.85/- Per Share | 5-Jun-14 |
STOCKS IN NEWS:**
Trent Ltd: Tesco Plc became the first foreign supermarket chain to invest in India as the British retailer announced that its joint venture with Tata Group's Trent Ltd was fully in place.
JSW Steel Ltd: JSW Steel Ltd will import 500,000 tonnes of iron ore by end-June or July, a top official told Reuters on Wednesday, its biggest monthly shipment as international ore prices fall and domestic supply remains suppressed.
IGL Ltd: The government may not implement the delayed increase in price of natural gas with retrospective effect as it would be difficult to back charge higher bills from power and CNG consumers, an official said.
IDFC Ltd: Infrastructure finance company IDFC is considering issuance of fresh shares to trim foreign holding ahead of its planned foray into universal banking.
Reliance Capital Ltd: The financial services company owned by billionaire Anil Ambani, on Wednesday informed the stock exchanges that it was seeking shareholder approval for private placement of non-convertible debentures (NCDs) and issue of securities to qualified institutional buyers, said media reports.
KSK Energy Ltd: KSK Energy Ventures Limited informed the Exchange that the QIP Committee of the Board of Directors of the Company has closed the bids and approved an issue price of Rs. 99/- (including a premium of Rs. 89/-) per equity Share in connection with the proposed issue and allotment of 40,404,040 shares aggregating to approximately Rs. 400 crore.
Reliance Industries Ltd: India's biggest oil refineries, owned by Reliance Industries and Essar, have gradually reduced imports from the Middle East and are increasing purchases from Africa, Latin America and even Canada, where prices have fallen due to lower demand from the US.
JSPL: Naveen Jindal-led Jindal Steel and Power (JSPL) plans to expand its steel capacity to 10 million tonne (mt) from 3 mt at its Raigarh plant in multiple phases by 2020. The company plans to invest around Rs 5,600 crore for upgradation and expansion at the plant, said media reports.
NMDC Ltd: State-run miner NMDC has raised iron ore prices by Rs 250-300 a tonne for June allegedly aimed at cashing in on subdued domestic supply scenario, a move that might stoke steel prices.
Anjani Portland Cement Ltd: The Company informed BSE that the Board of Directors of the Company at its meeting held on June 04, 2014 said that Mr. K. V Vishnu Raju resigned as Managing Director of the Company and re-designated as Non-Executive Director of the Company.
JSW Steel Ltd: JSW Steel Ltd will import 500,000 tonnes of iron ore by end-June or July, a top official told Reuters on Wednesday, its biggest monthly shipment as international ore prices fall and domestic supply remains suppressed.
IGL Ltd: The government may not implement the delayed increase in price of natural gas with retrospective effect as it would be difficult to back charge higher bills from power and CNG consumers, an official said.
IDFC Ltd: Infrastructure finance company IDFC is considering issuance of fresh shares to trim foreign holding ahead of its planned foray into universal banking.
Reliance Capital Ltd: The financial services company owned by billionaire Anil Ambani, on Wednesday informed the stock exchanges that it was seeking shareholder approval for private placement of non-convertible debentures (NCDs) and issue of securities to qualified institutional buyers, said media reports.
KSK Energy Ltd: KSK Energy Ventures Limited informed the Exchange that the QIP Committee of the Board of Directors of the Company has closed the bids and approved an issue price of Rs. 99/- (including a premium of Rs. 89/-) per equity Share in connection with the proposed issue and allotment of 40,404,040 shares aggregating to approximately Rs. 400 crore.
Reliance Industries Ltd: India's biggest oil refineries, owned by Reliance Industries and Essar, have gradually reduced imports from the Middle East and are increasing purchases from Africa, Latin America and even Canada, where prices have fallen due to lower demand from the US.
JSPL: Naveen Jindal-led Jindal Steel and Power (JSPL) plans to expand its steel capacity to 10 million tonne (mt) from 3 mt at its Raigarh plant in multiple phases by 2020. The company plans to invest around Rs 5,600 crore for upgradation and expansion at the plant, said media reports.
NMDC Ltd: State-run miner NMDC has raised iron ore prices by Rs 250-300 a tonne for June allegedly aimed at cashing in on subdued domestic supply scenario, a move that might stoke steel prices.
Anjani Portland Cement Ltd: The Company informed BSE that the Board of Directors of the Company at its meeting held on June 04, 2014 said that Mr. K. V Vishnu Raju resigned as Managing Director of the Company and re-designated as Non-Executive Director of the Company.
STOCKS IN BAN PERIOD:
DISHTV
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
TCS
The stock has closed below its 200DMA on good volumes. This indicates that selling pressure is increasing in the counter. It is likely to move down towards the intermediate lows of 2000 in near future. The stock can be shorted with 2105 as stop loss for the target of 2068-2036-2000.
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