Nifty opened flat at 7399 and tumbled down from there. The market took support at the 7360 support mentioned in the yesterday's report and shot up. It easily broke past the resistance of 7445 and made a high of 7484 near the critical resistance of 7489. The market broke the symmetrical triangle on the hourly charts. The target for which lies at 7852. The market also closed at highest level of 7474 for the first time. The buy on dips strategy should be used. The market id expected to face some resistance near the 7545 levels.
The support for nifty is at 7452-7400-7348 and the resistance lies at 7503-7546-7592. Nifty June Future has
been trading at 23-24 points premium to the spot. The implied volatility on the
Nifty June Options of ATM strike calls were at 12.33 and for puts were at 15.51. India VIX closed at 15.4475.
PCR for Nifty based on open interest was at 0.88 and PCR for the day based on
volumes was at 0.8 for the market.
CASH MARKET:
FII 7408.08 - 6039.11 = 1368.97 Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1281.26 | 2171.02 | -889.76 |
| INDEX OPTIONS | 10310.06 | 9686.41 | 623.65 |
| STOCK FUTURES | 4374.50 | 3509.24 | 865.26 |
| STOCK OPTIONS | 2187.28 | 2199.97 | -12.69 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Tata Consultancy Services Limited | Annual General Meeting / Dividend - Rs. 20/- Per Equity Share | 6-Jun-14 | - |
| TVS Motor Company Limited | E-Voting | 6-Jun-14 | 9-Jun-14 |
STOCKS IN NEWS:**
Piramal Enterprises & Shriram City Union Finance: Piramal has acquired 9.99 per cent stake in Shriram City Union Finance for a total of Rs 790 crore.
The Mumbai-based firm has acquired 65,79,840 equity shares of Shriram City Union Finance Ltd, the retail focused non-banking financial company (NBFC) of the Shriram Group, Piramal Enterprises said in a statement today.
Reliance Industries Ltd: The government will take a decision on revising natural gas prices after the Prime Minister is briefed about various issues of the petroleum sector, but the new rates cannot be implemented before July 1 as per the notified guidelines, government sources said.
Infosys Ltd: Prasad Thrikutam, the global head for sales and marketing at Infosys quit on Thursday, in what is the latest in a series of senior management exits in the last one year. The exit comes at a time when Infosys is running a evaluation process to appoint its first non-founder CEO.
Idea Cellular Ltd: Idea Cellular, India's third largest wireless services operator, today said it has opened a QIP issue through which it will offer equity shares worth Rs 3,000 crore.
M&M Ltd: Mahindra & Mahindra (M&M) today launched a special edition of its sports utility vehicle XUV500, priced at Rs 13.68 lakh (ex-showroom Mumbai).
Wockhardt Ltd: Drug major Wockhardt is recalling over 8,000 bottles of anti-hypertension drug Metoprolol Succinate extended-release tablets in the US market following failure of a dissolution test.
Coal India, RCF & GAIL: Coal India is planning Rs 10,000-crore joint venture along with GAIL India, Rashtriya Chemicals & Fertilizers (RCF) and The Fertilizer Corporation of India (FCIL) to set up a urea and ammonium nitrate chemicals complex that will run on gasified coal.
Coal India is planning Rs 10,000-crore joint venture along with GAIL India, Rashtriya Chemicals & Fertilizers (RCF) and The Fertilizer Corporation of India (FCIL) to set up a urea and ammonium nitrate chemicals complex that will run on gasified coal.
The Mumbai-based firm has acquired 65,79,840 equity shares of Shriram City Union Finance Ltd, the retail focused non-banking financial company (NBFC) of the Shriram Group, Piramal Enterprises said in a statement today.
Reliance Industries Ltd: The government will take a decision on revising natural gas prices after the Prime Minister is briefed about various issues of the petroleum sector, but the new rates cannot be implemented before July 1 as per the notified guidelines, government sources said.
Infosys Ltd: Prasad Thrikutam, the global head for sales and marketing at Infosys quit on Thursday, in what is the latest in a series of senior management exits in the last one year. The exit comes at a time when Infosys is running a evaluation process to appoint its first non-founder CEO.
Idea Cellular Ltd: Idea Cellular, India's third largest wireless services operator, today said it has opened a QIP issue through which it will offer equity shares worth Rs 3,000 crore.
M&M Ltd: Mahindra & Mahindra (M&M) today launched a special edition of its sports utility vehicle XUV500, priced at Rs 13.68 lakh (ex-showroom Mumbai).
Wockhardt Ltd: Drug major Wockhardt is recalling over 8,000 bottles of anti-hypertension drug Metoprolol Succinate extended-release tablets in the US market following failure of a dissolution test.
Coal India, RCF & GAIL: Coal India is planning Rs 10,000-crore joint venture along with GAIL India, Rashtriya Chemicals & Fertilizers (RCF) and The Fertilizer Corporation of India (FCIL) to set up a urea and ammonium nitrate chemicals complex that will run on gasified coal.
Coal India is planning Rs 10,000-crore joint venture along with GAIL India, Rashtriya Chemicals & Fertilizers (RCF) and The Fertilizer Corporation of India (FCIL) to set up a urea and ammonium nitrate chemicals complex that will run on gasified coal.
STOCKS IN BAN PERIOD:
DISHTV
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
ONGC
The stock has broken past its consolidation of past fortnight on the back of good volumes. The stock can be bought with the stop loss of 411 for the target of 428-435.
The stock has broken past its consolidation of past fortnight on the back of good volumes. The stock can be bought with the stop loss of 411 for the target of 428-435.
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