Nifty opened with a gap up of 23 points at 7706 and made a high of 7752. The market stayed sideways till the RBI Policy. It made several attempts to cross the 7720 mark but failed. Once the RBI policy was declared inline with the street expectations the market toppled to the lows of 7638. The market bounced from the support of 7640 and went to make the high of 7752. The market has completed its correction for the up move from 7600 and is expected to move up towards the 7800 levels. The strategy should be buying on deeps.
The support for nifty is at 7720-7666-7602 and the resistance lies at 7767-7802-7843. Nifty August Future has
been trading at 26-27 points premium to the spot. The implied volatility on the
Nifty August Options of ATM strike calls were at 11.23 and for puts were at 14.21. India VIX closed at 13.9475.
PCR for Nifty based on open interest was at 0.91 and PCR for the day based on
volumes was at 0.87 for the market.
CASH MARKET:
FII 3029.3 - 2976.45 = 52.85 Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1766.07 | 1967.42 | -201.35 |
| INDEX OPTIONS | 17728.92 | 17063.19 | 665.73 |
| STOCK FUTURES | 2473.28 | 2365.12 | 108.16 |
| STOCK OPTIONS | 1857.69 | 1842.78 | 14.91 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| AI Champdany Industries Limited | Annual General Meeting | 6-Aug-14 | - |
| MRF Limited | Interim Dividend - Rs 3/- Per Share | 6-Aug-14 | 7-Aug-14 |
| Hind Rectifiers Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 6-Aug-14 | - |
| GOL Offshore Limited | Annual General Meeting | 6-Aug-14 | - |
| R. S. Software (India) Limited | Interim Dividend - Re 1/- Per Share | 6-Aug-14 | 7-Aug-14 |
| Orient Green Power Company Limited | Annual General Meeting | 6-Aug-14 | - |
| Cipla Limited | Annual General Meeting/Dividend Rs 2/- Per Equity Share | 6-Aug-14 | - |
| TV Today Network Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 6-Aug-14 | - |
| Hindustan Oil Exploration Company Limited | Annual General Meeting | 6-Aug-14 | - |
| ICRA Limited | Annual General Meeting/Dividend Rs 23 Per Share | 6-Aug-14 | - |
STOCKS IN NEWS:**
Hero MotoCorp Ltd: The two wheeler reported net profit of Rs 562.7 crore for the quarter ended June 2014, up 2.5 per cent, from Rs 549 crore, in the corresponding quarter last fiscal.
Bata India Ltd: Footwear firm Bata India reported 4.14 per cent decline in standalone net profit at Rs 59.37 crore for the second quarter ended June 30, 2014.
Jubilant Life Sciences: The Company posted a consolidated net profit of Rs 4.78 crore for the first quarter ended June 30. The company had posted a net loss of Rs 52.62 crore during the same period of previous fiscal.
GMR Infrastructure Ltd: The Board of Approvals, under the Union Ministry of Commerce, has given its conditional nod to a GMR Group proposal to buy out the 50 per cent stake owned by its partner Malaysian Aerospace Engineering in an aircraft maintenance repair and overhaul (MRO) unit.
Coal India Ltd: Coal and Power Minister Piyush Goyal has directed state-owned CIL and its subsidiaries to submit an immediate action plan to augment their output by 150 million tonnes (MT) within a year.
NTPC: State run power producer NTPC today said it has inked an agreement with Assam Power Distribution Company for selling 75 MW of electricity to the state.
HDIL: Merrill Lynch Capital Markets Espana today picked up over 30 lakh shares of real estate player Housing Development and Infrastructure LtdBSE 8.63 % (HDIL) for nearly Rs 29 crore through the open market route.
IL&FS Engineering and Construction Company Ltd: The engineering & construction company said it has bagged Rs 105 crore contract from Lodha Group for civil construction work of proposed residential buildings in Mumbai.
Jindal Steel and Power Ltd: JSPL on Tuesday bought 100% stake in Australian mining and exploration company Legend Mining's iron ore project in Cameroon for AUD 17.5 million (Rs.100 crore).
NHPC Ltd: Hydel power producer NHPC today reported a 14 per cent decline in net profit at Rs 616.03 crore in the three months ended June, mainly on account of higher finance costs. The state-owned company had a net profit of Rs 719.26 crore.
STOCKS IN BAN PERIOD:
| IBREALEST |
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
bajaj-auto
the stock has been declining after hitting a high of 2365. It has taken support at 61.8% of the rise from 1840 lows. On the daily charts it has also given break of a double bottom pattern. Its target lies at 2195 with a stop loss at 2114. The stock can bought for the target of 2175-2187-2195 with the stop loss of 2133.
the stock has been declining after hitting a high of 2365. It has taken support at 61.8% of the rise from 1840 lows. On the daily charts it has also given break of a double bottom pattern. Its target lies at 2195 with a stop loss at 2114. The stock can bought for the target of 2175-2187-2195 with the stop loss of 2133.
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