Nifty Daily For 18th July 2014

                   Nifty opened with a gap down of 11 points at 7612 and made a high of 7655. For most part of the trading session the market traded in a tight band of 7620-7650. A breach of 7660 is very important for the market to move upwards. The option data suggests that the market is likely to test the 7700 level in the near future. The market is expected to trade with positive bias. The dip in price should be bought into as long as 7580 is not broken.

                    The support for nifty is at 7600-7566-7520 and the resistance lies at 7682-7720-7755. Nifty July Future has been trading at 17-18 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 11.69 and for puts were at 14.17. India VIX closed at 14.965. PCR for Nifty based on open interest was at 0.87 and PCR for the day based on volumes was at 0.82 for the market.

CASH MARKET:

FII                   4488.64 -    2576.22  =   1912.42Cr.

DII                  1454.82  -   2770.84  =   -1316.02Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	2350.20	1830.20	520.00
INDEX OPTIONS	10404.28	9772.48	631.80
STOCK FUTURES	3877.61	3762.58	115.03
STOCK OPTIONS	2716.33	2652.12	64.21

CORPORATE ACTION:

Company	Purpose	Ex-Date
Centum Electronics Limited	Annual General Meeting/Dividend - Rs.1.50/- Per Share	18-Jul-14
The Ramco Cements Limited	Annual General Meeting And Final Dividend Re.1/- Per Share	18-Jul-14
The Indian Hotels Company Limited	9 Ccds For Every 40 Equity Shares	18-Jul-14
Garden Silk Mills Limited	Annual General Meeting	18-Jul-14
Ramco Industries Limited	Annual General Meeting/Dividend Re 0.25/- Per Share	18-Jul-14
IPCA Laboratories Limited	Annual General Meeting / Final Dividend - Rs 2.50/- Per Share	18-Jul-14
Ador Welding Limited	Dividend @ Rs.5/- Per Share	18-Jul-14
Sintex Industries Limited	Annual General Meeting/Dividend Rs:- 0.70/- Per Share	18-Jul-14
Elecon Engineering Company Limited	Annual General Meeting / Final Dividend - Re 1/- Per Share	18-Jul-14
Ashok Leyland Limited	Annual General Meeting	18-Jul-14
Greaves Cotton Limited	Annual General Meeting / Final Dividend - Re 0.60/- Per Share	18-Jul-14
Shriram City Union Finance Limited	Annual General Meeting / Final Dividend - Rs 6/- Per Share	18-Jul-14
L&T Finance Holdings Limited	Annual General Meeting / Dividend - Re 0.75/- Per Share	18-Jul-14
Techno Electric & Engineering Company Limited	Annual General Meeting / Final Dividend  Re.0.50/- Per Share	18-Jul-14
Tata Investment Corporation Limited	Annual General Meeting/Dividend - Rs.17/- Per Share	18-Jul-14
IG Petrochemicals Limited	Annual General Meeting	18-Jul-14

STOCKS IN NEWS:**

TCS Ltd: Tata Consultancy Services, India's largest IT services exporter reported a Profit After Tax ( PAT) of Rs 5,058 crore versus Rs 5,297 crore, down 4.5% QoQ. This is above an ET Now Poll estimate of Rs 4,902.3 crore.

Reliance Industries Ltd: The company's board meeting will be held on Saturday, 19th July to consider the unaudited quarterly numbers. RIL, which had posted a net profit of Rs 5352 crore for the Apr - June 2013 quarter, is expected to report a similar number for the Apr - June 2014 quarter.

Elder Pharma Ltd: Elder Pharma said its nutraceutical product Eldervit is set to become Rs 100 crore brand by the end of financial year 2016 and a Rs 300 crore brand by FY 2019 with product extensions and large scale geographical expansion.

Rallis India Ltd: Rallis India, posted robust set of numbers. For the quarter, 1QFY2015, the company posted net sales of Rs. 465.4cr as compared to Rs. 409.3cr reported in 1QFY2014, a YoY growth of 13.7 per cent.

M&M Ltd: Cyprus-based Golboot Holdings, a firm controlled by Goldman Sachs Group Inc sold 11.8 million shares, or a 1.91 per cent stake, in Mahindra and Mahindra Ltd via a block deal on the BSE exchange.

Axis Bank Ltd: Axis Bank Ltd has now fixed July 30, 2014 as the Record Date for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 (Five) equity shares of nominal value of Rs. 2/- each in lieu of 1 (One) equity share of nominal value of Rs. 10/- each of the Bank on Sub-division.

Cipla Ltd: Drug maker Cipla Ltd said on Thursday that its unit Meditab Specialities Pvt. Ltd has acquired the balance 75% stake in Mabpharm Pvt. Ltd that it didn't own, for an undisclosed amount.

MindTree Ltd: Mindtree trumped street expectations with solid first quarter results and said it expects to top industry lobby Nasscom's guidance of 13-15% for fiscal year 2015.

SBI: State Bank of India may raise about Rs 20,000 crore by selling shares over two years to fund capital requirements and expansion plans as it looks to take advantage of the surge in stock prices, driven by optimism about the Narendra Modi government putting economic growth back on track. India's largest bank is in discussions with the finance ministry over its financial requirements.

Cyient: IT firm Cyient, formerly known as Infotech Enterprises, said its net profit has grown 26.1 per cent to Rs 68.51 crore for the quarter ended June 30, 2014 on the back of broad-based growth across all operating units and geographies.

STOCKS IN BAN PERIOD:

1    DISHTV
2    GMRINFRA
3    HDIL
4    IBREALEST
5    UNITECH

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Bajaj-Auto

The stock has given break down of a Head & shoulders pattern on the daily charts on good volumes. The pattern target lies at 1850 with the stop loss of 2170. The stock can be shorted with the stop loss of 2117 for the short term targets of 2055-2024-2007.