Nifty opened with a gap up of 51 points at 7620 and made a high of 7635. The market filled the gap left behind on Friday. Once the gap was filled the market remained sideways for most of the session, trading in the 35 points range. On Friday the market took support of the intermediate low at 7532 and has bounced back sharply. On the daily charts the market has formed a Bullish Island Reversal pattern. The RSI has also moved up from the 40% support zone. Thus one can expect the markets to move up towards the resistance of 7725. buy on dips with the 7600 as stop loss on closing basis.
The support for nifty is at 7600-7560-7516 and the resistance lies at 7655-7690-7740. Nifty August Future has
been trading at 15-16 points premium to the spot. The implied volatility on the
Nifty August Options of ATM strike calls were at 11.41 and for puts were at 14.12. India VIX closed at 13.9975.
PCR for Nifty based on open interest was at 0.82 and PCR for the day based on
volumes was at 0.79 for the market.
CASH MARKET:
FII 2795.42 - 2958.34 = -162.92Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1199.39 | 1036.93 | 162.46 |
| INDEX OPTIONS | 7709.41 | 7375.27 | 334.14 |
| STOCK FUTURES | 2019.79 | 1521.71 | 498.08 |
| STOCK OPTIONS | 1675.18 | 1664.20 | 10.98 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Ashoka Buildcon Limited | Annual Geeneral Meeting / Final Dividend - Re 0.80/- Per Share | 12-Aug-14 |
| Shilpi Cable Technologies Limited | Annual Book Closure / Final Dividend - Re 1/- Per Share | 12-Aug-14 |
| Indo Count Industries Limited | Annual General Meeting | 12-Aug-14 |
| IL&FS Transportation Networks Limited | Annual General Meeting / Final Dividend - Rs 4/- Per Share | 12-Aug-14 |
| Uttam Value Steels Limited | Annual General Meeting | 12-Aug-14 |
| Hindustan Petroleum Corporation Limited | Annual General Meeting / Final Dividend - Rs 15.50/- Per Share | 12-Aug-14 |
| Panama Petrochem Limited | Annual General Meeting / Dividend - Rs 6/- Per Share | 12-Aug-14 |
| Patel Integrated Logistics Limited | Annual General Meeting / Dividend - Re 0.50/- Per Share | 12-Aug-14 |
STOCKS IN NEWS:**
Tata Motors: The company beat forecasts as first-quarter net profit more than tripled on strong sales of its luxury Jaguar and Land Rover vehicles.
It reported a net profit of Rs 1726 crore in the corresponding quarter of last fiscal year. Total sales for the auto giant rose 38.6 per cent YoY to Rs 64,857 crore for the quarter ended June 30, as compared to Rs 46,785 crore reported in the year-ago period.
IOC: The company has got shareholders' approval to raise Rs 11,000 crore via issue of debentures in the current fiscal. The state-run fuel retailer also got the approval for raising the borrowing limit to over Rs 1 lakh crore for FY15.
ONGC: ONGC Videsh has signed Production Sharing Contracts for two onshore blocks in Myanmar.
The contracts were signed between OVL, Myanmar Oil & Gas Enterprises, National Oil Company of Myanmar, and Machine & Solutions Company.
Bank of India: It has raised Rs. 2,500 crore from Tier I bonds to fund its business expansion plans.
Funds have been raised through Basel III compliant Tier-1 bonds by way of private placement of Rs. 1,250 crore with a green shoe option of Rs. 1,250 crore, BoI said in a statement on Monday.
HPCL: The oil marketing company reported a net profit of Rs 46 crore for quarter ended June quarter as compared to a net loss of Rs 1,460 crore in the same quarter last fiscal.
Sales for the quarter increased to Rs 59,151.7 crore against Rs 50,990 crore, Y-o-Y. HPCL's Q1 avg GRMs stood at $2.04 per barrel vs $2.58 per barrel, YoY. The company's subsidy from upstream cos stood at Rs 3,610 crore.
Coal India: The company is likely to raise prices by 15-20 per cent in its board meet on the back of high input costs and lower realizations, say reports.
FTIL: General Atlantic, TPG, Kedaara are expected to bid for stake in IEX.
IRB Infrastructure: The stock is likely to be in action on reports that the CBI has given clean chit in RTI activist's murder case.
BPCL: Shares of OMCs may react to reports that petrol prices are likely to fall to the lowest in one year on Independence day as state oil firms are planning to cut the fuel's rate by Rs 2.50 per litre, the biggest fall in many months, government and industry sources told ET.
Jet Airways: Jet Airways may react to the quarterly numbers posted yesterday after the market hours. The company reported that it has reduced its losses by 26 per cent to Rs 258 crore in the first quarter of FY15 from Rs 348.50 crore in corresponding year-ago quarter, on the back of increased fleet utilisation and improved yields.
STOCKS IN BAN PERIOD:
| IBREALEST |
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Tata Motors
The Stock has been moving in downward movement since hitting the high of 488. It has formed bullish hammer and gave its confirmation. The stock can be bought for the target of 456 with the stop loss of 441.
The Stock has been moving in downward movement since hitting the high of 488. It has formed bullish hammer and gave its confirmation. The stock can be bought for the target of 456 with the stop loss of 441.
High of 477
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