Nifty Daily For 22nd July 2014

                   Nifty opened with a gap up of 37 points at 7701 and made a high of 7722. The market failed to cross the resistance of 7724 (78.6% Fibonacci retracement) and tumbled down towards the support of 7660. The market is expected to move lower towards the 7642 level as long as 7745 is intact. The Option data indicate unwinding in the 7700CE and buying in the 7600PE. This means an expiry below the 7700 levels. A rise should be used as shorting opportunity.

                    The support for nifty is at 7660-7607-7572 and the resistance lies at 7731-7774-7808. Nifty July Future has been trading at 2 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 10.51 and for puts were at 15.27. India VIX closed at 14.8975. PCR for Nifty based on open interest was at 1.05 and PCR for the day based on volumes was at 0.98 for the market.

CASH MARKET:

FII                   2674.38  -   2513.21  =   161.17Cr.

DII                  992.28  -   1173.44  =   -181.16Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1130.10	835.11	294.99
INDEX OPTIONS	9614.94	10001.68	-386.73
STOCK FUTURES	2562.28	2152.15	410.13
STOCK OPTIONS	2225.35	2270.70	-45.35

CORPORATE ACTION:

Company	Purpose	Ex-Date
Saregama India Limited	Annual General Meeting/Dividend Rs.1.50/- Per Share	22-Jul-14
Redington (India) Limited	Annual General Meeting/Dividend - Re.0.90/- Per Share	22-Jul-14
IFB Industries Limited	Annual General Meeting	22-Jul-14
IP Rings Limited	Annual General Meeting	22-Jul-14
Jayshree Tea & Industries Limited	Annual General Meeting / Dividend - Rs 2/- Per Share	22-Jul-14
Everest Industries Limited	Annual General Meeting/Dividend Rs.2.50 Per Share	22-Jul-14
Usha Martin Education & Solutions Limited	Annual General Meeting	22-Jul-14
DB (International) Stock Brokers Limited	Annual General Meeting	22-Jul-14
Astra Microwave Products Limited	Annual General Meeting / Dividend - Rs 1.10/- Per Share	22-Jul-14
Meghmani Organics Limited	Annual General Meeting/Dividend - Re.0.10/- Per Share	22-Jul-14
Shoppers Stop Limited	Annual General Meeting/Dividend Rs 0.75 Per Share	22-Jul-14
Marico Limited	Annual General Meeting	22-Jul-14
Xpro India Limited	Annual General Meeting	22-Jul-14
Praj Industries Limited	Annual General Meeting / Dividend - Rs 1.62/- Per Share	22-Jul-14
Prism Cement Limited	Annual General Meeting	22-Jul-14

STOCKS IN NEWS:**

Axis Bank Ltd: The private sector bank is expected to report a net profit of Rs Rs 1,684 crore for the quarter ended June 30, up 19.5 per cent YoY, as compared to Rs 1,408.90 crore reported in the year-ago period.

Idea Cellular Ltd: The telecom operator reported a 57 percent jump in quarterly profit on Monday, benefiting from fewer competitors, higher call rates and more customers using data plans.

Exide Industries Ltd: Battery maker Exide Industries reported 16.68 per cent increase in net profit at Rs 185.3 crore for the first quarter ended June 30, 2014.

Hindustan Zinc Ltd: Vedanta Group company Hindustan Zinc Ltd (HZL) today reported nearly 3 per cent dip in net profit at Rs 1,618 crore for the first quarter ended June 30 on the back of lower volumes and increased expenses.

Thermax Ltd: The Company is expected to report a net profit of Rs Rs 60crore for the quarter ended June 30, up 20 per cent YoY, as compared to Rs 50 crore reported in the year-ago period.

Tata Power, Adani Power Ltd: In a significant ruling, the Appellate Tribunal for Electricity (APTEL) has allowed Tata Power and Adani Power to recover power dues from March 2013 on account of rise in imported fuel cost.

Reliance Industries Ltd: Reliance Industries and its partner BP have surrendered one more oil and gas block, reducing their tally to 5 from 21 exploration acreage they held three years back.

Alstom T&D Ltd: Alstom T&D India today said it has bagged a Rs 200 crore order from Power Grid Corporation of India Ltd (PGCIL) for upgrading grid substations in eastern parts of the country.

Maruti Suzuki Ltd: Country's largest carmaker Maruti Suzuki India continues its dominance on the Indian roads with its four models, led by entry level small car Alto heading the top ten best sellers list in April-June quarter this fiscal.

Texmaco Rail & Engineering Ltd: The company posted a net loss of Rs 7.8 crore in first quarter (April-June) of current financial year 2014-15 as against profit of Rs 11.4 crore in corresponding quarter of last fiscal.

GAIL India Ltd: The government has prevailed upon GAIL India to involve Indian companies in its $7.5-billion 20-year LNG importing plan although the state-run firm had initially resisted the move saying it wanted to charter only foreign vessels, as India has no experience in building the highly specialised vessels required.

DLF Ltd: DLF, India's largest real estate developer, is selling a 30-acre land parcel in Hyderabad's Raidurg area to local builder My Home Group for Rs 550 crore, two people with knowledge of the development said.

Rolta India Ltd: IT firm Rolta said it has bagged an additional multi-million dollar order from Sadara Chemical Company in Saudi Arabia.

STOCKS IN BAN PERIOD:

 1    DISHTV
2    GMRINFRA
3    IBREALEST
4    IRB
5    UNITECH

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

UFLEX INDIA

The stock had been consolidating in a falling channel for past 6 weeks. It has finally broken out of it on good volumes. The pattern target lies at 150 with the stop loss of 125 closing basis. The stock can be bought for short term with the target of 137.45-140.15-142.2  with the stop loss of 130.