Nifty opened with a gap up of 24 points at 7708 and made a high of 7774. The yesterday's move has broken past the important resistance of 7745. This clearly indicates that the markets are moving higher. With the monsoon picking up its pace, the crop yield is safe & the threat if drought is almost over. The market on the back of stellar earnings from corporate biggies is set to extend its gains. The market is expected to trade in the range of 7740-7810.
The support for nifty is at 7745-7707-7680 and the resistance lies at 7790-7825-7867 . Nifty July Future has
been trading in line with the spot. The implied volatility on the
Nifty July Options of ATM strike calls were at 8.85 and for puts were at 13.48. India VIX closed at 14.64.
PCR for Nifty based on open interest was at 1.1 and PCR for the day based on
volumes was at 1.03 for the market.
CASH MARKET:
FII 3509.38 - 3097.35 = 412.03Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2538.16 | 1337.56 | 1200.60 |
| INDEX OPTIONS | 12529.87 | 12721.33 | -191.46 |
| STOCK FUTURES | 3289.61 | 2564.67 | 724.94 |
| STOCK OPTIONS | 2732.06 | 2815.17 | -83.10 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Manappuram Finance Limited | Annual General Meeting / Final Dividend - Re 0.45/- Per Share (22.5%) | 23-Jul-14 |
| Cholamandalam Investment and Finance Company Limited | Annual General Meeting / Final Dividend - Re 1/- Per Share | 23-Jul-14 |
| Tata Power Company Limited | Annual General Meeting/Dividend - Rs.1.25 Per Share | 23-Jul-14 |
| Magma Fincorp Limited | Annual General Meeting /Dividend Re 0.80 Per Equity Share | 23-Jul-14 |
| Action Construction Equipment Limited | Annual General Meeting / Final Dividend - Re 0.10/- Per Share | 23-Jul-14 |
| Avanti Feeds Limited | Annual General Meeting / Dividend - Rs 15/- Per Share (150%) | 23-Jul-14 |
| Shakti Pumps (India) Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share | 23-Jul-14 |
| Britannia Industries Limited | Annual General Meeting / Dividend - Rs 12/- Per Share | 23-Jul-14 |
| IFB Agro Industries Limited | Annual General Meeting | 23-Jul-14 |
| Indo Rama Synthetics (India) Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 23-Jul-14 |
| Abbott India Limited | Annual General Meeting / Final Dividend - Rs 23/- Per Share | 23-Jul-14 |
| EIH Limited | Annual General Meeting / Dividend - Rs 1.10/- Per Share | 23-Jul-14 |
| Bajaj Electricals Limited | Annual General Meeting/Dividend Rs 1.50/- Per Share | 23-Jul-14 |
| DCM Limited | Annual General Meeting And Final Dividend Rs.1.50 Per Share | 23-Jul-14 |
| EIH Associated Hotels Limited | Annual General Meeting/Dividend - Rs.3/- Per Share | 23-Jul-14 |
| Firstsource Solutions Limited | Annual General Meeting | 23-Jul-14 |
STOCKS IN NEWS:**
Axis Bank Ltd: Axis Bankhas reported a net profit of Rs 1666.7 crore for the quarter ended June 2014 - an increase of 18% over Rs 1,409 crore in the corresponding quarter last year.
Yes Bank Ltd: The private sector bank is expected to report 14 per cent YoY to Rs 457 cr for the quarter ended June 30, as compared to Rs 400.80 crore reported in the year-ago period.
ONGC: State-owned Oil and Natural Gas Corp ( ONGCBSE 0.55 %) will fast-track development of Natural Gas discoveries in its Krishna Godavari basin block with first gas planned no later than April 1, 2018.
Coal India Ltd: Mahanadi Coalfields Ltd, a CIL subsidiary, has agreed to take back all the 122 employees in Odisha whose services were terminated for not vacating the land in lieu of which they were given employment.
Exide Industries Ltd: Battery maker Exide Industries would invest Rs 350 crore in the present fiscal to increase manufacturing capacity at its existing plants, a top company official said today.
Cairn India Ltd: The company is expected to report 12 per cent YoY fall in net profit number to Rs 2727 crore for the quarter ended June 30, as compared to Rs 3127 crore reported in the year-ago period.
Bank of Baroda: The Reserve Bank has lifted ban imposed on foreign investors to buy shares in Bank of Baroda as the foreign shareholding under portfolio investment scheme (PIS) in the bank has gone below prescribed limit.
Wipro Ltd: Anil Ambani-headed Reliance Communications has shortlisted IBM and WiproBSE 2.53 % among five companies each for two contracts worth a combined upto Rs 1,200 crore to upgrade technology across its call centre operations as well as to outsource those back office operations, a top official at the telco said.
KPIT Technologies Ltd: The company posted a 17.1% rise in fiscal first-quarter net profit at Rs33.5 crore from Rs28.6 crore in the year-ago period. On a sequential basis, net profit declined by 26.6%.
Syndicate Bank: The state-run bank has sought the government's approval to raise Rs 1,100 crore from the market through Qualified Institutional Placement ( QIP) route.
Infosys Ltd: IT services major Infosys said it has secured a multi-year deal from automaker maker Daimler AG for the management of infrastructure services and data centres.
Max India Ltd: Max Indiaon Tuesday decided to divest 13.3% stake in Max Healthcare Company (MHC) - its hospital business - to its South Africa-based JV partner Life Healthcare (LHC) for Rs 383 crore to reduce its holding in the company to 46.3% from 65.9%.
Sesa Sterlite Ltd: The merger of Goa Energy and Sterlite Infra with Sesa Sterlite has been cleared by the two leading stock exchanges - BSE and NSE.
ING Vysya Bank: The net profit for the quarter ended June dropped 18% to Rs 143.4 crore on higher provisions from Rs 175.1 crore a year ago. Net interest income (NII), the difference between interest earned and expended, grew 8.8% to Rs 463.1 crore from Rs 425.4 crore.
Hexaware Technologies Ltd: Mid-sized IT services company Hexaware Technologies posted 21.8 per cent decline in its consolidated net profit at Rs 76.6 crore for the second quarter ended June 30, 2014.
STOCKS IN BAN PERIOD:
1 GMRINFRA
2 HDIL
3 IBREALEST
4 UNITECH
2 HDIL
3 IBREALEST
4 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
HCLTECH
The Stock has been in consolidation for past 3 months. It has broken out in the form of Cup & handle pattern on the daily charts. The price target for the stock lies at 1772 with the stop loss of 1450. The stock can be bought for short term with the stop loss of 1505 for the target of 1570-1590.
The Stock has been in consolidation for past 3 months. It has broken out in the form of Cup & handle pattern on the daily charts. The price target for the stock lies at 1772 with the stop loss of 1450. The stock can be bought for short term with the stop loss of 1505 for the target of 1570-1590.
High of 1988.45 on 24th July 2014. Both the targets achieved.
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