Nifty Daily For 2nd July 2014

                   Nifty opened with a gap up of 18points at 7629 and made a high of 7649. The market is facing strong resistance at the 7645 level. In today's session this was tested twice, but market failed to conquer it decisively. The market took breather after yesterday's spectacular move. The pre-budget rally is expected to take market higher towards the previous highs of 7700. The market will be sideways with positive bias.

                    The support for nifty is at 7612-7585-7545 and the resistance lies at 7662-7693-7725. Nifty July Future has been trading at 33-34 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.78 and for puts were at 19. India VIX closed at 17.6625. PCR for Nifty based on open interest was at 1.04 and PCR for the day based on volumes was at 0.9 for the market.

CASH MARKET:

FII                   3790.73  -   2934.38  =   856.35Cr.

DII                  1245.28  -   2019.94   =   -774.66Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	1155.18	1202.59	-47.41
INDEX OPTIONS	4592.43	4196.76	395.67
STOCK FUTURES	3157.00	2493.06	663.93
STOCK OPTIONS	1358.86	1371.12	-12.26

CORPORATE ACTION:

Company	Purpose	Ex-Date
eClerx Services Limited	Annual General Meeting / Dividend - Rs 35/- Per Share	2-Jul-14
Aarti Drugs Limited	Annual General Meeting/Dividend Rs:- 5.50 Per Share	2-Jul-14
Oriental Hotels Limited	Annual General Meeting / Dividend - Re 0.55/- Per Share	2-Jul-14
Vatsa Music Limited	Annual General Meeting	2-Jul-14

STOCKS IN BAN PERIOD:

DISHTV
HDIL

Source: nseindia.com

STOCK OF THE DAY:

ZEEL

The stock has been consolidating in the range of 250-300 for the past 8 months. It has finally broken out of this range. The price target lies at 340 levels with stop loss of 281 closing basis. For short term buy the stock with 292 as stop loss and 305-312-318.