Nifty opened with a gap up of 37 points at 7564 and made a high of 7571 in the first half of trading session. The market stayed in a tight range of 40 points between 7530-7570. A breakout was seen in last hour of trading when market broke the resistance of 7590 and closed at 7624. The of the day was placed at 7640 level. The market faces strong resistance at 7660 level. This is 61.8% Fibonacci Retracement with and intermediate low at 7761. The market has broken out of a falling channel on the lower tie frame as shown below. A valid pattern target lies at 7850 as long as the 7540 level is not broken down. The market is expected to remain sideways today.
The support for nifty is at 7588-7540-7500 and the resistance lies at 7660-7716-7755. Nifty July Future has
been trading at 35-36 points premium to the spot. The implied volatility on the
Nifty July Options of ATM strike calls were at 11.99 and for puts were at 14.15. India VIX closed at 14.73.
PCR for Nifty based on open interest was at 0.95 and PCR for the day based on
volumes was at 0.90 for the market.
CASH MARKET:
FII 4501.16 - 3879.48 = 621.68Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2273.36 | 2298.09 | -24.74 |
| INDEX OPTIONS | 15713.78 | 14475.90 | 1237.87 |
| STOCK FUTURES | 3630.80 | 2889.74 | 741.06 |
| STOCK OPTIONS | 2494.08 | 2496.24 | -2.16 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Persistent Systems Limited | Annual General Meeting And Dividend Rs.4/- Per Share | 17-Jul-14 |
| Phoenix Lamps Limited | Annual General Meeting / Special Dividend - Rs 10/- Per Share + Final Dividend - Re 1/- Per Share | 17-Jul-14 |
| Subros Limited | Annual General Meeting / Dividend - Re 0.70/- Per Share | 17-Jul-14 |
| Carborundum Universal Limited | Annual General Meeting/Final Dividend Re.0.50 Per Equity Share | 17-Jul-14 |
| Mcnally Bharat Engineering Company Limited | Annual General Meeting | 17-Jul-14 |
| TIL Limited | Annual General Meeting / Dividend - Rs 1.50/- Per Share | 17-Jul-14 |
| IDFC Limited | Annual General Meeting/Dividend @ Rs.2.60 Per Share | 17-Jul-14 |
| KPIT Technologies Limited | Annual General Meeting / Dividend - Rs 1.10/- Per Share | 17-Jul-14 |
| Deepak Fertilizers and Petrochemicals Corporation Limited | Annual General Meeting/Dividend Rs:- 6.50/- Per Share | 17-Jul-14 |
| Kajaria Ceramics Limited | Annual General Meeting / Dividend - Rs 3.50/- Per Share | 17-Jul-14 |
| Wendt (India) Limited | Annual General Meeting / Dividend - Rs 15/- Per Share | 17-Jul-14 |
| Thinksoft Global Services Limited | Annual General Meeting / Final Dividend - Rs 4/- Per Share | 17-Jul-14 |
| Cadila Healthcare Limited | Annual General Meeting / Dividend - Rs 9/- Per Share | 17-Jul-14 |
| Igarashi Motors India Limited | Annual General Meeting / Dividend Rs 2/- Per Share | 17-Jul-14 |
| Shanthi Gears Limited | Annual General Meeting | 17-Jul-14 |
| TCI Developers Limited | Annual General Meeting | 17-Jul-14 |
| WABCO India Limited | Annual General Meeting And Dividend Rs.5/- Per Share | 17-Jul-14 |
| Apollo Tyres Limited | Annual General Meeting And Dividend Re.0.75 Per Share | 17-Jul-14 |
| V-Guard Industries Limited | Annual General Meeting / Final Dividend - Rs 4.50/- Per Share | 17-Jul-14 |
| Ranbaxy Laboratories Limited | Annual General Meeting | 17-Jul-14 |
| Thangamayil Jewellery Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 17-Jul-14 |
| Alstom India Limited | Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 4/- Per Share | 17-Jul-14 |
| Mahindra & Mahindra Limited | Annual General Meeting / Dividend - Rs 13.50/- Per Share + Special Dividend - Re 0.50/- Per Share | 17-Jul-14 |
| Aegis Logistics Limited | Annual General Meeting/Dividend - Rs.2.75/- Per Share | 17-Jul-14 |
| Alembic Pharmaceuticals Limited | Annual General Meeting / Dividend - Rs 3/- Per Share | 17-Jul-14 |
| Rane Engine Valve Limited | Annual General Meeting | 17-Jul-14 |
| Suprajit Engineering Limited | Annual General Meeting / Final Dividend - Re 0.50/- Per Share | 17-Jul-14 |
| JSW Holdings Limited | Annual General Meeting | 17-Jul-14 |
| Transport Corporation of India Limited | Annual General Meeting / Final Dividend - Re 0.80/- Per Share | 17-Jul-14 |
| HOV Services Limited | Annual General Meeting | 17-Jul-14 |
STOCKS IN NEWS:**
TCS: TCSnet profit is likely to fall by 7.45 per cent QoQ to Rs 4,902.30 crore as compared to Rs 5297 crore reported in the previous quarter, largely weighed down by impact of salary increases, and appreciation of rupee against major currencies.
ONGC: Prime Minister Narendra Modi's government will decide next month on the sale of a $3 billion stake in state oil firm Oil and Natural Gas Corp, in a major test of whether he can follow through on reforms outlined in his first budget.
Jet Airways Ltd: Private carrier Jet Airways will launch an air service to the Ho Chi Minh city in Vietnam from Delhi via Bangkok.
IDFC Ltd: Infrastructure financing company IDFC has agreed to prune foreign shareholding limit by 1 per cent to 50.50 per cent, as part of plans to progressively pare foreign investor holding to 49 per cent to run banking services.
Tata Power Ltd: Country's largest power producer, NTPC has said that Tata Power's unit can't unilaterally call off pacts with it, and should compensate the state-run firm if it decides to do so.
L&T Ltd: Engineering firm Larsen & Toubro (L&T) today said its technology services arm has bagged a contract from AkzoNobel to provide technical assistance to drive the latter's engineering excellence and reduce its capital expenditure.
Sagar Cements Ltd: Sagar cements said its Board of Directors approved the sale of its entire 47 per cent stake in Vicat Sagar Cement Private Limited for Rs 435 crore (Rs 66.68 per equity share) to Parficim SAS, France, an affiliate of Vicat SA, France.
Lupin Ltd: Drug major Lupin has received the prestigious American Society for Training and Development's 'BEST Award' for learning and development for 2014.
Bajaj Auto Ltd: Two and three wheeler major Bajaj Auto will be announcing its first quarter results tomorrow. According to ET Now poll, the company is expected 11 per cent jump in a net profit at Rs 820 crore as compared to a net profit of Rs 738 crore in the corresponding quarter last fiscal.
Federal Bank Ltd: Kerala-based Federal Bank said its net profit more than doubled to Rs 220.23 crore in the April-June quarter of 2014-15 against Rs 105.66 crore during the same period in the previous fiscal.
Geojit BNP Paribas Ltd: The brokerage firm posted a more than threefold jump in its standalone net profit for the fiscal first quarter, as a pickup in market sentiment and trading volume boosted the financial services company's businesses.
South Indian Bank: Kerala-headquartered South Indian Bank recorded the highest first quarter profit of Rs 126.65 crore profit in the first quarter ended June 30, registering a 10.28 per cent growth on a year-on-year basis.
Strides Arcolab: Drug maker Strides Arcolab Ltd said on Wednesday that it has made a strategic investment in the US-based biopharmaceuticals developer Oncobiologics Inc, said media reports.
Adani Group Companies: The Adani Group is seeking shareholder approval to raise Rs 16,000 crore between the three group companies, Adani Enterprises, Adani Power and Adani Ports and Special Economic Zone (APSEZ), through specified financial instruments in the foreign or domestic market, said media reports.
Financial Technologies Ltd: Financial Technologies today offloaded four per cent stake in MCX for about Rs 154 crore, bringing down its shareholding to 20 per cent. The shares were sold on average price of Rs 752.83 apiece valuing the transaction at Rs 153.64 crore.
ONGC: Prime Minister Narendra Modi's government will decide next month on the sale of a $3 billion stake in state oil firm Oil and Natural Gas Corp, in a major test of whether he can follow through on reforms outlined in his first budget.
Jet Airways Ltd: Private carrier Jet Airways will launch an air service to the Ho Chi Minh city in Vietnam from Delhi via Bangkok.
IDFC Ltd: Infrastructure financing company IDFC has agreed to prune foreign shareholding limit by 1 per cent to 50.50 per cent, as part of plans to progressively pare foreign investor holding to 49 per cent to run banking services.
Tata Power Ltd: Country's largest power producer, NTPC has said that Tata Power's unit can't unilaterally call off pacts with it, and should compensate the state-run firm if it decides to do so.
L&T Ltd: Engineering firm Larsen & Toubro (L&T) today said its technology services arm has bagged a contract from AkzoNobel to provide technical assistance to drive the latter's engineering excellence and reduce its capital expenditure.
Sagar Cements Ltd: Sagar cements said its Board of Directors approved the sale of its entire 47 per cent stake in Vicat Sagar Cement Private Limited for Rs 435 crore (Rs 66.68 per equity share) to Parficim SAS, France, an affiliate of Vicat SA, France.
Lupin Ltd: Drug major Lupin has received the prestigious American Society for Training and Development's 'BEST Award' for learning and development for 2014.
Bajaj Auto Ltd: Two and three wheeler major Bajaj Auto will be announcing its first quarter results tomorrow. According to ET Now poll, the company is expected 11 per cent jump in a net profit at Rs 820 crore as compared to a net profit of Rs 738 crore in the corresponding quarter last fiscal.
Federal Bank Ltd: Kerala-based Federal Bank said its net profit more than doubled to Rs 220.23 crore in the April-June quarter of 2014-15 against Rs 105.66 crore during the same period in the previous fiscal.
Geojit BNP Paribas Ltd: The brokerage firm posted a more than threefold jump in its standalone net profit for the fiscal first quarter, as a pickup in market sentiment and trading volume boosted the financial services company's businesses.
South Indian Bank: Kerala-headquartered South Indian Bank recorded the highest first quarter profit of Rs 126.65 crore profit in the first quarter ended June 30, registering a 10.28 per cent growth on a year-on-year basis.
Strides Arcolab: Drug maker Strides Arcolab Ltd said on Wednesday that it has made a strategic investment in the US-based biopharmaceuticals developer Oncobiologics Inc, said media reports.
Adani Group Companies: The Adani Group is seeking shareholder approval to raise Rs 16,000 crore between the three group companies, Adani Enterprises, Adani Power and Adani Ports and Special Economic Zone (APSEZ), through specified financial instruments in the foreign or domestic market, said media reports.
Financial Technologies Ltd: Financial Technologies today offloaded four per cent stake in MCX for about Rs 154 crore, bringing down its shareholding to 20 per cent. The shares were sold on average price of Rs 752.83 apiece valuing the transaction at Rs 153.64 crore.
STOCKS IN BAN PERIOD:
1 DISHTV
2 GMRINFRA
3 HDIL
4 IBREALEST
5 UNITECH
2 GMRINFRA
3 HDIL
4 IBREALEST
5 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
HDFC
The Stock has been moving down since hitting the high of 1046 till 946 levels. On the daily charts it has formed a bullish hammer, which is a reversal pattern, with huge volumes. The stock can rise towards the 1023 levels . Buy the stock with 970 closing basis for the target of 983-995-1008.
The Stock has been moving down since hitting the high of 1046 till 946 levels. On the daily charts it has formed a bullish hammer, which is a reversal pattern, with huge volumes. The stock can rise towards the 1023 levels . Buy the stock with 970 closing basis for the target of 983-995-1008.
Target 1 achieved high of the day 985
ReplyDeleteAll targets achieved on 21st July 2014
ReplyDelete