Nifty opened with flat to the 7589 level and traded sideways for the time till budget announcement. Once the budget started by finance minister Mr. Arun Jetley the market dropped towards the support of 7480. The Market then took support and rallied towards 7736 which is the 78.6% Fibonacci retracement level of the fall 7808-7479. The market momentum failed and closed lower at 7567. The candle formed is a doji with low upper & lower shadows, a clear sign of indecision among market participants. The market has began a down trend and is likely to move lower once 7480 is decisively breached. For markets to resume upwards rally it has to take out the 7740 on closing basis.
The support for nifty is at 7555-7495-7441 and the resistance lies at 7600-7643-7681. Nifty July Future has
been trading at 9-10 points premium to the spot. The implied volatility on the
Nifty July Options of ATM strike calls were at 12.23 and for puts were at 17.23. India VIX closed at 15.965.
PCR for Nifty based on open interest was at 0.82 and PCR for the day based on
volumes was at 0.8 for the market.
CASH MARKET:
FII 5059.03 - 4897.48 = 161.55Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3611.50 | 3868.52 | -257.03 |
| INDEX OPTIONS | 37151.18 | 37683.67 | -532.49 |
| STOCK FUTURES | 6493.75 | 5481.24 | 1012.51 |
| STOCK OPTIONS | 5015.24 | 5033.90 | -18.66 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Edelweiss Financial Services Limited | Final Dividend - Re 0.15/- Per Share | 11-Jul-14 | - |
| Andhra Bank | Annual General Meeting | 11-Jul-14 | - |
| Pioneer Embroideries Limited | Annual General Meeting | 11-Jul-14 | - |
| Exide Industries Limited | Annual General Meeting / Final Dividend - Re 0.70/- Per Share | 11-Jul-14 | - |
| Grindwell Norton Limited | Annual General Meeting / Final Dividend Rs.6.50/- Per Equity Share | 11-Jul-14 | - |
| Sundaram Clayton Limited | E-Voting | 11-Jul-14 | 14-Jul-14 |
| Jindal Steel & Power Limited | Annual General Meeting/Dividend Rs 1.50/- Per Share | 11-Jul-14 | - |
| Indian Metals & Ferro Alloys Limited | Annual General Meeting / Dividend - Rs 3/- Per Share | 11-Jul-14 | - |
| Dr. Reddy's Laboratories Limited | Annual General Meeting / Final Dividend - Rs 18/- Per Share | 11-Jul-14 | - |
| Bimetal Bearings Limited | Dividend - Rs 7/- Per Share | 11-Jul-14 | - |
| Century Textiles & Industries Limited | Annual General Meeting / Dividend - Rs 5.50/- Per Share | 11-Jul-14 | - |
STOCKS IN NEWS:**
Infosys Ltd: The second largest IT major is expected to post flattish revenue growth in the first quarter which ended on June 30 and maintain its full-year revenue guidance of 7-9 per cent when it announces results before market opens today.
Coal India Ltd: The government is likely to collect Rs 5,200 crore in 2014-15 from Coal India after doubling the clean energy cess from Rs 50 per tonne to Rs 100 per tonne in the recent budget. The industry is likely to offer another Rs 1,000 crore to the government this year.
Tata Motors Ltd: Tata Motors-owned luxury car maker Jaguar Land Rover (JLR) has registered its strongest ever half-year sales in 2014 selling over 240,000 vehicles.
Kotak Mahindra Bank: The Reserve Bank of India (RBI) allowed overseas investors today, to buy shares of private sector lender Kotak Mahindra Bank.
GMR Infrastructure Ltd: GMR Infrastructure today said it has raised Rs 1,477 crore through issuing shares to qualified institutional investors. The leading infrastructure player has raised the amount by selling shares at Rs 31.50 apiece, lower than the set floor price of Rs 33.14 per share.
IL&Fs Engineering & Construction Co Ltd: The Company announced that it has bagged a Rs 213-crore EPC order. The Ministry of Petroleum and Natural Gas has awarded the order for laying a pipeline from Mangalore Port to Mangalore/Padur Cavern for a crude oil storage project.
Britannia Industries Ltd: Britannia Industries, among the top publicly held food companies in India, has said that it has monetised its factory land in Chennai for Rs 172 crores.
Coal India Ltd: The government is likely to collect Rs 5,200 crore in 2014-15 from Coal India after doubling the clean energy cess from Rs 50 per tonne to Rs 100 per tonne in the recent budget. The industry is likely to offer another Rs 1,000 crore to the government this year.
Tata Motors Ltd: Tata Motors-owned luxury car maker Jaguar Land Rover (JLR) has registered its strongest ever half-year sales in 2014 selling over 240,000 vehicles.
Kotak Mahindra Bank: The Reserve Bank of India (RBI) allowed overseas investors today, to buy shares of private sector lender Kotak Mahindra Bank.
GMR Infrastructure Ltd: GMR Infrastructure today said it has raised Rs 1,477 crore through issuing shares to qualified institutional investors. The leading infrastructure player has raised the amount by selling shares at Rs 31.50 apiece, lower than the set floor price of Rs 33.14 per share.
IL&Fs Engineering & Construction Co Ltd: The Company announced that it has bagged a Rs 213-crore EPC order. The Ministry of Petroleum and Natural Gas has awarded the order for laying a pipeline from Mangalore Port to Mangalore/Padur Cavern for a crude oil storage project.
Britannia Industries Ltd: Britannia Industries, among the top publicly held food companies in India, has said that it has monetised its factory land in Chennai for Rs 172 crores.
STOCKS IN BAN PERIOD:
DISHTV
GMRINFRA
GMRINFRA
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Titan
The stock has been falling since hitting the high of 362.7 and has moved near the 50DMA support. It has been using this support for quite a while and is likely to bounce back towards the upper levels. Buy this stock with the stop loss of 323 for the target of 331.25-334.45.
The stock has been falling since hitting the high of 362.7 and has moved near the 50DMA support. It has been using this support for quite a while and is likely to bounce back towards the upper levels. Buy this stock with the stop loss of 323 for the target of 331.25-334.45.
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