Nifty opened with a gap up of 29 points at 7780 and made a high of 7792. The market has taken resistance near the 7800 level. The market is expected to consolidate prior to the budget session. As long as 7800 is not taken out the market can drift lower towards the 7750 levels.
The support for nifty is at 7760-7731-7680 and the resistance lies at 7795-7835-7870. Nifty July Future has
been trading at 11-12 points premium to the spot. The implied volatility on the
Nifty July Options of ATM strike calls were at 17.52 and for puts were at 22.21. India VIX closed at 19.4075.
PCR for Nifty based on open interest was at 0.73 and PCR for the day based on
volumes was at 0.67 for the market.
CASH MARKET:
FII 5720.05 - 5521.48 = 198.57Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1094.08 | 1944.68 | -850.60 |
| INDEX OPTIONS | 5418.52 | 6270.48 | -851.95 |
| STOCK FUTURES | 3835.48 | 3613.25 | 222.22 |
| STOCK OPTIONS | 1187.12 | 1194.18 | -7.06 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Elnet Technologies Limited | Annual Generl Meeting / Dividend - Rs 1.40/- Per Share | 8-Jul-14 |
| The South Indian Bank Limited | Annual General Meeting / Dividend - Re 0.80/- Per Share | 8-Jul-14 |
| Pantaloons Fashion & Retail Limited | Annual General Meeting | 8-Jul-14 |
| Agro Tech Foods Limited | Annual General Meeting / Dividend - Rs 2 Per Share | 8-Jul-14 |
| NCC Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 8-Jul-14 |
STOCKS IN NEWS:**
Railway related stocks will be in focus ahead of the Rail Budget 2014. Today's Railway Budget is expected to set the tone for the kind of budget that we can expect on 10th July, Thursday.
Reliance Industries Ltd: Reliance Industries Ltd ( RIL) today said it has taken control of Network 18 Media & Investments Ltd and its subsidiary TV18 Broadcast Ltd, besides appointing HDFC chairman Deepak Parekh as an independent director on the Board of the media and entertainment firm.
Hero MotoCorp Ltd: Country's largest two-wheeler maker Hero MotoCorp has commenced setting up of its $70 million (around Rs 420 crore) manufacturing facility in Colombia, as part of its plans to expand its global footprint to as many as 50 countries by 2020.
Cipla Ltd: Pharma major Cipla will invest up to 100 million pounds (nearly Rs 1,030 crore) in UK over next few years for launch and development of new drugs as part of its global footprint expansion plans.
ONGC: With the government expected to announce a big-bang privatisation programme in the July 10 budget, the loudest pop could come from the sale of a 5-10 per cent stake in ONGC that would raise as much as Rs 35,000 crore at current market prices, a record for stake sales in stateowned companies.
Kotak Mahindra Bank Ltd: Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds, today offloaded over 48 lakh shares of Kotak Mahindra Bank for an estimated Rs 420 crore.
Adani Enterprises Ltd: Fair trade watchdog CCI has imposed a penalty of more than Rs 25 crore on Adani Gas for violating competition norms by abusing its dominant market position. Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.
ICRA: Rating agency ICRA on Monday reported a 28 per cent jump in June quarter net profit at Rs. 19.40 crore, helped by a spurt in other income on the back of maturing of investments during the reporting period.
Sterlite Technologies Ltd: Standard Chartered Private Equity will invest Rs 500 crore in Sterlite Technologies power transmission infrastructure business for a minority stake. SPGVL, a subsidiary of Sterlite, focused on the development and operations of power transmission projects, will issue convertible securities to Standard Chartered Private Equity for a minority share.
Wipro Ltd: Wipro will use machine learning and automation to improve productivity at its internal help desk, likely a stepping to using the experience to build similar solutions for customers.
Reliance Industries Ltd: Reliance Industries Ltd ( RIL) today said it has taken control of Network 18 Media & Investments Ltd and its subsidiary TV18 Broadcast Ltd, besides appointing HDFC chairman Deepak Parekh as an independent director on the Board of the media and entertainment firm.
Hero MotoCorp Ltd: Country's largest two-wheeler maker Hero MotoCorp has commenced setting up of its $70 million (around Rs 420 crore) manufacturing facility in Colombia, as part of its plans to expand its global footprint to as many as 50 countries by 2020.
Cipla Ltd: Pharma major Cipla will invest up to 100 million pounds (nearly Rs 1,030 crore) in UK over next few years for launch and development of new drugs as part of its global footprint expansion plans.
ONGC: With the government expected to announce a big-bang privatisation programme in the July 10 budget, the loudest pop could come from the sale of a 5-10 per cent stake in ONGC that would raise as much as Rs 35,000 crore at current market prices, a record for stake sales in stateowned companies.
Kotak Mahindra Bank Ltd: Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds, today offloaded over 48 lakh shares of Kotak Mahindra Bank for an estimated Rs 420 crore.
Adani Enterprises Ltd: Fair trade watchdog CCI has imposed a penalty of more than Rs 25 crore on Adani Gas for violating competition norms by abusing its dominant market position. Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group.
ICRA: Rating agency ICRA on Monday reported a 28 per cent jump in June quarter net profit at Rs. 19.40 crore, helped by a spurt in other income on the back of maturing of investments during the reporting period.
Sterlite Technologies Ltd: Standard Chartered Private Equity will invest Rs 500 crore in Sterlite Technologies power transmission infrastructure business for a minority stake. SPGVL, a subsidiary of Sterlite, focused on the development and operations of power transmission projects, will issue convertible securities to Standard Chartered Private Equity for a minority share.
Wipro Ltd: Wipro will use machine learning and automation to improve productivity at its internal help desk, likely a stepping to using the experience to build similar solutions for customers.
STOCKS IN BAN PERIOD:
GMRINFRA
IBREALEST
UNITECH
IBREALEST
UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
SSLT
The stock has been consolidating in the 314-288 range for past month. It has tested the upper resistance level of the range and is ready to go down towards the 288 levels. The stock can be shorted with 311 as stop loss for the target of 302-299-295.
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