Nifty Daily For 16th July 2014

                   Nifty opened with a gap up of 37 points at 7491 and made a high of 7535. The market did not cross the resistance of 7537. First time when market went down towards the low of 7460. The market pulled back from this support to test the 7537 again and closed at 7526. The market is likely to move upwards towards the 7655 levels as long as the 7430 is intact. The trend is expected positive for the day with the daily charts showing a morning star pattern on the daily charts.

                    The support for nifty is at 7513-7475-7430 and the resistance lies at 7545-7590-7630. Nifty July Future has been trading at 12-13 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 10.9 and for puts were at 15.63. India VIX closed at 14.7675. PCR for Nifty based on open interest was at 0.75 and PCR for the day based on volumes was at 0.72 for the market.

CASH MARKET:

FII                   3026.38  -   3029.78  =   -3.4Cr.

DII                  1464.59  -   992.81    =   471.78Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1415.59	1348.30	67.30
INDEX OPTIONS	12118.10	11309.64	808.46
STOCK FUTURES	2755.63	2443.59	312.04
STOCK OPTIONS	2089.96	2093.05	-3.09

CORPORATE ACTION:

Company	Purpose	Ex-Date
Ponni Sugars (Erode) Limited	Annual General Meeting / Dividend - Rs.0.60/- Per Equity Share	16-Jul-14
DCM Shriram Limited	Annual General Meeting/Final Dividend - Rs.1.20/- Per Share	16-Jul-14
Greenply Industries Limited	Annual General Meeting / Final Dividend - Rs 3/- Per Share	16-Jul-14
AVT Natural Products Limited	Annual General Meeting / Final Dividend - Re 0.45/- Per Share	16-Jul-14
Automotive Stampings and Assemblies Limited	Annual General Meeting	16-Jul-14
Hydro S & S Industries Limited	Annual General Meeting	16-Jul-14
KEC International Limited	Annual General Meeting / Dividend - Re 0.60/- Per Share	16-Jul-14
Kirloskar Brothers Limited	Annual General Meeting / Dividend - Rs 2.50/- Per Share	16-Jul-14
SREI Infrastructure Finance Limited	Annual General Meeting / Dividend - Re 0.50/- Per Share	16-Jul-14
Parrys Sugar Industries Limited	Annual General Meeting	16-Jul-14
Visaka Industries Limited	Annual General Meeting / Final Dividend - Rs 2.50/- Per Share	16-Jul-14
Everest Kanto Cylinder Limited	Annual General Meeting	16-Jul-14
MphasiS Limited	Annual General Meeting / Dividend - Rs 7/- Per Share	16-Jul-14
Colgate Palmolive (India) Limited	Annual General Meeting	16-Jul-14
Blue Blends (I) Limited	Annual General Meeting	16-Jul-14
Tube Investments of India Limited	Annual General Meeting / Dividend Re.0.50/- Per Equity Share	16-Jul-14
HIL Limited	Annual General Meeting / Final Dividend Rs.5/- Per Share	16-Jul-14
Vaibhav Global Limited	Annual General Meeting	16-Jul-14
Berger Paints (I) Limited	Annual General Meeting/ Dividend - Rs 2.20/- Per Share	16-Jul-14
Eveready Industries India Limited	Annual General Meeting / Dividend - Re 0.50/- Per Share	16-Jul-14

STOCKS IN NEWS:**

 
Novartis India Ltd: Swiss drugmaker Novartis has struck an agreement with Google to develop "smart" contact lenses that would help diabetics track their blood glucose levels or restore the eye's ability to focus.

Maruti Suzuki Ltd: Maruti Suzuki India signed an MoU with Muthoot Vehicle and Asset Finance (MVFL) to enable customers avail 100 per cent finance for Maruti cars.

State Bank of India: State Bank of India sold non-performing assets worth Rs 3,590 crore to various asset reconstruction companies ( ARCs) during 2013-14, the Rajya Sabha was informed on Tuesday.

MTNL Ltd: State-run telecom firm MNTL has roped in SBI Capital Markets to evaluate feasibility of investments in its Nepal based joint venture telecom operator United Telecom Limited.

SpiceJet Ltd: Domestic budget carriers SpiceJet, Indigo and GoAir today rolled out another sale offer with fares starting from Rs 1,699 for a limited period on domestic routes.

Bharti Airtel Ltd: Sunil Bharti Mittal-promoted Bharti Enterprises has sold a majority stake in group company Beetel Teletech to US-based mobile handset distributor Brightstar Corporation for an undisclosed amount.

Yes Bank Ltd:The Supreme Court on Tuesday said it would hear an appeal by YES Bank against a decision of the Bombay High Court. Yes Bank petitioned the highest court after the Bombay High Court dismissed its plea that the court did not have the jurisdiction to hear the case.

The case is regarding a dispute between Madhu Kapur and YES Bank regarding the appointment of directors to YES Bank.

IOC, BPCL, HPCL: State-run fuel retailers on Tuesday reduced the price of diesel sold in bulk to industrial consumers such as state transport companies and railways by Re 1 a litre, indicating the government's approach to let retail prices crawl up to market levels could soon be paying off.

DLF Ltd: DLF is planning to raise up to R3,500 crore through the issue of securities backed by IT-SEZs to replace its costlier debt.

Canara Bank: Canara Bank is exploring all options to recover its dues of R350 crore from Deccan Chronicle Holdings (DCHL), including a one-time settlement (OTS) with the promoters, said media reports.

Banks with higher infrastructure loan share such as ICICI Bank, Axis Bank, IDFC are likely to remain in focus today: The Reserve Bank of India, in order to encourage infrastructure development and affordable housing, on Tuesday, exempted long-term bonds from the mandatory regulatory norms such as the Cash Reserve Ratio (CRR), the Statutory Liquidity Ratio (SLR) and Priority Sector Lending (PSL) if the money raised is used for funding of such projects.

STOCKS IN BAN PERIOD:

1    DISHTV
2    GMRINFRA
3    HDIL
4    IBREALEST
5    IRB
6    UNITECH
 

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

DLF

The stock is consolidating in a broad range of 200-225. The stock has tested its lower levels and is ready to move up towards the 225 level. The stock can be bought for the stop loss of 204 with the target of 217.5-221-224.2.