Nifty opened with a gap up of 27 points at 7901 and made a high of 7918. As per my expectations the market stayed in the below the resistance of 7920. After the spectacular run the market is taking a breather. On the daily charts the market has formed a doji, which is clear sign of indecision. The market will trade in range as long as 7950 is not taken out. It can crawl slowly towards the 7950 levels, before correcting from the new highs.
The support for nifty is at 7880-7820-7780 and the resistance lies at 7951-7980-8015. Nifty August Future has
been trading at 12-13 points premium to the spot. The implied volatility on the
Nifty August Options of ATM strike calls were at 10.64 and for puts were at 12.67. India VIX closed at 13.905.
PCR for Nifty based on open interest was at 1.07 and PCR for the day based on
volumes was at 1.00 for the market.
CASH MARKET:
FII 4329.53 - 3770.14 = 559.39Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2043.96 | 1592.60 | 451.36 |
| INDEX OPTIONS | 16211.75 | 13359.02 | 2852.73 |
| STOCK FUTURES | 3125.32 | 2290.95 | 834.37 |
| STOCK OPTIONS | 2519.62 | 2535.92 | -16.30 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Intrasoft Technologies Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 20-Aug-14 | - |
| Grasim Industries Limited | Dividend - Rs 21/- Per Share | 20-Aug-14 | - |
| Electrosteel Castings Limited | Annual General Meeting / Dividend - Re 0.65/- Per Share | 20-Aug-14 | - |
| BEML Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 20-Aug-14 | - |
| Sakuma Exports Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 20-Aug-14 | - |
| Lovable Lingerie Limited | Interim Dividend - Rs 12.5/- Per Share (Purpose Revised) | 20-Aug-14 | 21-Aug-14 |
| Pilani Investment and Industries Corporation Limited | Annual General Meeting / Final Dividend - Rs 25/- Per Share | 20-Aug-14 | - |
STOCKS IN NEWS:**
Bharti Airtel Ltd: Telecom major Bharti Airtel is in advanced stage talks with American Tower Corporation (ATC) and Eaton Towers for selling its tower assets in several African countries, including Nigeria, Ghana and Uganda, sources aware of the development said.
Arvind Ltd: Arvind Ltd today announced its foray into e-commerce with custom clothing brand 'Creyate' and said it aims to reach Rs 1,000 crore revenue from e-commerce in three years.
HDFC Bank Ltd: The controversial proposal of HDFC Bank to hike foreign holding may be taken up by the Foreign Investment Promotion Board (FIPB) in the next meeting following clarifications submitted by the bank.
Eros International Media & ZEE Entertainment Ltd: Eros International Media said that its on-demand entertainment portal has acquired the worldwide rights of 10 shows from Zee TV. With this, content from Zee will be available to ErosNow members without them having to pay any extra subscription costs.
GAIL India Ltd: In a setback to Oil Ministry, gas utility GAIL and refiner CPCL have expressed their inability to deduct $115 million from the amount due to Reliance Industries to make up for the additional profit petroleum from the flagging KG-D6 block.
Just Dial Ltd: The Board of Directors of the Company at its meeting held have decided to seek approval of shareholders for increasing the limit on aggregate shareholding of Foreign Institutional Investors/Foreign Portfolio Investors in the Company from existing 49% to 75% of the paid-up equity share capital of the Company.
Ashok Leyland Ltd: Commercial vehicle maker Ashok Leyland, the flagship company of the Hinduja Group, has raised Rs.210 crore from sale of one of its residential properties at Chennai.
Karur Vysya Bank Ltd: The bank said it launched a share sale on Tuesday to raise up to Rs 10 billion ($165 million) from institutional investors. The floor price for the sale is Rs 461.70, the lender said in a regulatory filing.
Wipro Ltd: The IT major is betting on two of its largest verticals serving the financial services and oil and gas sectors as India's third largest software exporter scouts for opportunities in Canada to offset lackluster performance in the US.
NTPC: The government plans to create public sector energy giants with a massive restructuring exercise that will amalgamate all state-run hydropower firms and transfer their thermal projects to NTPC to create strong companies that can take on the rapidly growing private conglomerates.
Ranbaxy Laboratories Ltd: Ranbaxy Laboratories' global HR head Sandeep Girotra has stepped down while its president of global pharma business, Rajiv Gulati, plans to leave soon, continuing the shake-up in senior management at the drugmaker that began a few months ago.
STOCKS IN BAN PERIOD:
| UNITECH |
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Hindalco
The Stock has retraced its bullish engulfing on the daily charts and is likely to move up from these levels. Buy this stock for the target of 184.55-186.80-191 with the stop loss of 179.50.
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