Nifty opened with a gap up of 8 points at 7588 and made a high of 7589. As I had mentioned in the Daily Report on Wednesday, the market failed to breach the 7590 resistance and stayed in very narrow band of 30 points for the entire day. The market is expected to trade sideways with positive bias for the day. A breach of 7590 level will take the market towards the 7650 levels.
The support for nifty is at 7547-7513-7480 and the resistance lies at 7595-7645-7700. 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 15.14 and for puts were at 12.97. India VIX closed at 18.3125.
PCR for Nifty based on open interest was at 1.01 and PCR for the day based on
volumes was at 0.95 for the market.
CASH MARKET:
FII 3739.2 - 3044.57 = 694.63Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 5682.08 | 5504.26 | 177.82 |
| INDEX OPTIONS | 10363.84 | 10926.18 | -562.34 |
| STOCK FUTURES | 13941.29 | 14449.96 | -508.67 |
| STOCK OPTIONS | 1944.14 | 2063.20 | -119.05 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Havells India Limited | Annual General Meeting / Final Dividend - Rs 10/- Per Share | 26-Jun-14 |
| Gammon Infrastructure Projects Limited | Annual General Meeting | 26-Jun-14 |
| IDBI Bank Limited | Annual General Meeting / Dividend - Re 0.275/- Per Share | 26-Jun-14 |
| NIIT Technologies Limited | Annual General Meeting / Final Dividend - Rs 9/- Per Share | 26-Jun-14 |
| NIIT Limited | Annual General Meeting/Dividend Rs.1.60/- Per Share | 26-Jun-14 |
STOCKS IN NEWS:**
Cairn India, ONGC, Oil India: The Narendra Modi government on Wednesday indicated that it would not be guided by the UPA's formula by deferring for three months a decision on revising price of gas produced from domestic fields.
Reliance Industries Ltd: The government plans to impose an additional penalty of USD 578 million on Reliance IndustriesBSE -0.84 % for producing less-than-targeted natural gas from its eastern offshore KG-D6 block.
Auto stocks are likely to remain in focus after the Finance Minister Arun Jaitley announced the government will extend excise duty cut on automobiles till December 2014.
TCS Ltd: Tata Consultancy Services ( TCS), India's largest software services firm, today said it has been selected by Dutch insurance firm REAAL N V to develop and modernise mainframe applications and servicing the company's life insurance portfolio.
Ruchi Soya Industries Ltd: FMCG firm Ruchi Soya Industries forayed into the ready-to-cook products category under its flagship brand Nutrela and is eyeing a 10 per cent market share in the segment by 2019.
HDFC Bank Ltd: HDFC Bank Ltd. is still awaiting permission from the Foreign Investment Promotion Board (FIPB) to increase the percentage of shares foreign investors can buy in the bank, managing director Aditya Puri told reporters.
Crompton Greaves Ltd: Avantha Group Company CG ( Crompton Greaves), along with the other consortium partners Fabricom and Iemants, has been selected by Van Oord, for the offshore wind project `Gemini' in the Netherlands.
Reliance Communications Ltd:Reliance Communications (RCOM) has raised Rs 6,100 crore from India's largest private sector share sale to institutions and a preferential issue of warrants to promoters as the country's fourth-largest telco strives to cut debt, which has being dragging its finances.
Ashok Leyland Ltd: Ashok Leyland, India's second-largest truckmaker, is planning to raise about Rs 600 crore to Rs 700 crore through an qualified institutional placement to pare debt. Ambit, Kotak Mahindra, and Citigroup have been appointed bankers for this transaction.
Maruti Suzuki Ltd: The largest Indian carmaker, Maruti Suzuki has shut its six plants across Gurgaon and Manesar for eight days in June, as part of the scheduled bi-annual closure for the summer season that would also help the company to adjust its inventory with the sluggish market conditions.
STOCKS IN BAN PERIOD:
DISHTV
GMRINFRA
IBREALEST
UNITECH
GMRINFRA
IBREALEST
UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
IDEA Cellular
The stock has broken below the crucial support trendline of the ascending triangle. The pattern target lies at 115 with the stop loss of 140. For the trading short term purpose the stock can be sold at 133.25 for the target of 129.25-125.15 with the stop loss of 138 closing basis.
The stock has broken below the crucial support trendline of the ascending triangle. The pattern target lies at 115 with the stop loss of 140. For the trading short term purpose the stock can be sold at 133.25 for the target of 129.25-125.15 with the stop loss of 138 closing basis.
Target 1 achieved.
ReplyDelete