Nifty opened with a gap up of 10 points at 7469 and made a high of 7478. The Support of 7480 has now become a strong resistance for the market. The markets are expected to lower levels, with the major event of Budget behind us. The market had broken a rising wedge formation pattern the target of which lies at . On the daily charts the market has formed a hammer pattern in the current down trend. This has bullish implications as it has been formed near 50DMA support. Hence the market is likely to see a bounce back towards the 7537.
The support for nifty is at 7430-7400-7365 and the resistance lies at 7480-7540-7576. Nifty July Future has
been trading at 20-21 points premium to the spot. The implied volatility on the
Nifty July Options of ATM strike calls were at 12.44 and for puts were at 15.54. India VIX closed at 15.5625.
PCR for Nifty based on open interest was at 0.76 and PCR for the day based on
volumes was at 0.73 for the market.
CASH MARKET:
FII 3026.32 - 3584.57 = -558.25Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1448.70 | 945.58 | 503.12 |
| INDEX OPTIONS | 10208.42 | 10783.13 | -574.71 |
| STOCK FUTURES | 2929.23 | 2732.84 | 196.39 |
| STOCK OPTIONS | 2406.50 | 2365.20 | 41.30 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| West Coast Paper Mills Limited | Annual General Meeting /Dividend Re.1/- Per Share | 15-Jul-14 |
| ARSS Infrastructure Projects Limited | Annual General Meeting | 15-Jul-14 |
| Info Edge (India) Limited | Annual General Meeting / Final Dividend - Rs 1.50/- Per Share | 15-Jul-14 |
| TRF Limited | Annual General Meeting | 15-Jul-14 |
| Dewan Housing Finance Corporation Limited | Annual General Meeting/Dividend-Rs.2/- Per Share And Anniversary Celebration Dividend Rs.3/- Per Share | 15-Jul-14 |
| Geometric Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share | 15-Jul-14 |
| Titan Company Limited | Annual General Meeting / Dividend - Rs 2.10/- Per Share | 15-Jul-14 |
| Lumax Auto Technologies Limited | Annual General Meeting / Dividend - Rs 6/- Per Share | 15-Jul-14 |
| Can Fin Homes Limited | Annual General Meeting / Dividend - Rs 6.50/- Per Share | 15-Jul-14 |
| Shrenuj & Company Limited | Annual General Meeting / Dividend - Re 0.60/- Per Share / Bonus 1 : 1 | 15-Jul-14 |
| Piramal Enterprises Limited | Annual General Meeting / Dividend - Rs 52.5/- Per Share | 15-Jul-14 |
| Seshasayee Paper and Boards Limited | Dividend - Rs 4/- Per Share | 15-Jul-14 |
| D.B.Corp Limited | Annual General Meeting / Final Dividend - Rs 4.25/- Per Share | 15-Jul-14 |
STOCKS IN NEWS:**
Reliance Industries Ltd: The government has slapped an additional penalty of $579 million on Reliance Industries for producing less than targeted natural gas from its KG-D6 block, Oil Minister Dharmendra Pradhan said on Monday.
NTPC Ltd: Electricity regulator CERC today rejected state-run NTPC's petition seeking changes in the tariff norms from 2014-19.
JSPL Ltd: Leading industrialist Naveen Jindal took a whopping Rs 18 crore hit on account of sharp dip in JSPL profit in 2013-14, when his total pay package stood at Rs 36.96 crore.
Coal India Ltd: The government is reviving a proposal to ask monopoly state-run miner Coal India to import coal in large quantities and pool it with its domestic produce for pricing purposes, a move aimed at helping the power companies make better use of their plants that are running at 50-60 per cent for want of adequate fuel.
SAIL: Steel Authority of India Ltd ( SAIL) is gearing up to increase coking coal imports by over 60% in the next two years as it expands its steelmaking capacity.
TVS Motor Company Ltd: Expecting a modest growth in the two wheeler industry in 2014-15, automobile maker TVS Motor Company as part of strengthening its presence in motorcycle and scooter categories plans to introduce a slew of launches this fiscal besides foraying into new overseas markets.
Coal India Ltd: Mahanadi Coalfields, a unit of Coal India Ltd(COAL.NS), said on Monday it resumed operations at three of its mines in Odisha state that were shut on Friday as locals protested its plan to relocate them to make way for planned mine expansion.
Jet Airways Ltd: A Boeing 777-300 extended range taken on lease from partner Jet Airways will be used by Etihad to connect Delhi top San Francisco via Abu Dhabi from November 18, 2014.
DCB Bank: Private sector lender DCB Bank reported a net profit of Rs 45 crore today, in the three months to June, as against Rs 43 crore during the same period last year.
GAIL India Ltd: Rajasthan Chief Minister Vasundhara Raje today announced in state Assembly to set up a joint venture with GAIL India Ltd for city gas (CNG) distribution in selected cities in the state.
STOCKS IN BAN PERIOD:
DISHTV
GMRINFRA
HDIL
IRB
GMRINFRA
HDIL
IRB
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Jet Airways
The stock has been consolidating in a symmetrical triangle. It is near its support of lower trendline. The RSI is also near its support of 40% level. A short bounce is likely to take the stock up towards the 275 levels i.e. 200DMA. On the daily charts the stock has formed a bullish harami pattern, which indicates a reversal. The stock can be bought with the stop loss of 241 for the target of 256-259-264-269
The stock has been consolidating in a symmetrical triangle. It is near its support of lower trendline. The RSI is also near its support of 40% level. A short bounce is likely to take the stock up towards the 275 levels i.e. 200DMA. On the daily charts the stock has formed a bullish harami pattern, which indicates a reversal. The stock can be bought with the stop loss of 241 for the target of 256-259-264-269
first target achieved.
ReplyDeleteLast target achieved on 23rd July 2014
ReplyDelete