Nifty opened with a gap down of 21 points at 7651 and made a high of 7709. The market tested the support of 7654 and bounced to the 7700 resistance. The resistance proved difficult to cross and it went down to the lows of 7630. The market is nervous with the news that US may air strike Iraq. The market is likely to move towards the 7580 level. If market is to resume up rally it has to now close decisively above the 7700. The market seems to be in a broadening formation on the daily chart. If it is true then the market can move till 7350 levels.
The support for nifty is at 7624-7580-7536 and the resistance lies at 7695-7740-7785. Nifty August Future has
been trading at 20-21 points premium to the spot. The implied volatility on the
Nifty August Options of ATM strike calls were at 11.38 and for puts were at 14.62. India VIX closed at 14.1375.
PCR for Nifty based on open interest was at 0.84 and PCR for the day based on
volumes was at 0.82 for the market.
CASH MARKET:
FII 2714.74 - 2787.81 = -73.07Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1645.67 | 2064.98 | -419.32 |
| INDEX OPTIONS | 15743.34 | 15239.14 | 504.20 |
| STOCK FUTURES | 2213.39 | 2003.00 | 210.38 |
| STOCK OPTIONS | 1821.18 | 1851.74 | -30.56 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Hero MotoCorp Limited | Interim Dividend - Rs 30/- Per Share (Purpose Revised) | 8-Aug-14 | 11-Aug-14 |
| Jocil Limited | Annual General Meeting / Dividend - Rs 5/- Per Share | 8-Aug-14 | - |
| Mangalam Timber Products Limited | Annual General Meeting | 8-Aug-14 | - |
| Tata Chemicals Limited | Annual General Meeting / Dividend - Rs 10/- Per Share | 8-Aug-14 | - |
| Voltas Limited | Annual General Meeting / Dividend - Rs 1.60/- Per Share & Special Diamond Jubilee Dividend - Re 0.25/- Per Share | 8-Aug-14 | - |
| Birla Corporation Limited | Annual General Meeting/Dividend Rs.6/- Per Share | 8-Aug-14 | - |
| Morepen Laboratories Limited | E - Voting | 8-Aug-14 | 11-Aug-14 |
| Gujarat Alkalies and Chemicals Limited | Annaul Genral Meeting/ Dividend Rs 4/- Per Share | 8-Aug-14 | - |
| Surya Roshni Limited | Annual General Meeting / Final Dividend - Re 1/- Per Share | 8-Aug-14 | - |
| Steel Authority of India Limited | Annual General Meeting | 8-Aug-14 | - |
| Chennai Petroleum Corporation Limited | Annual General Meeting | 8-Aug-14 | - |
| Gujarat Industries Power Company Limited | Annual General Meeting/Dividend Rs.2.50 Per Share | 8-Aug-14 | - |
STOCKS IN NEWS:**
Bharti Airtel Ltd: Bharti Airtel Ltd, India's top mobile phone carrier, on Thursday raised about Rs 21.40 billion ($349.6 million) from a share sale in its unit Bharti Infratel Ltd to comply with a rule that requires listed companies to have a minimum 25 per cent public shareholding.
Jet Airways Ltd: Jet Airways spokeswoman Srirupa Sen said that they do not have any information on Jetlite sale report.
India Cements Ltd: India Cements today reported a net loss of Rs 2.96 crore for the first quarter ending June 30, 2014 due to severe cost push and "flat" demand.
Trent Ltd: Tata group retail firm Trent Ltd reported over three-and-half-fold increase in standalone net profit at Rs 61.11 crore for the first quarter ended June 30, 2014-15, boosted by partial sale of stake in Trent Hypermarket to UK's Tesco.
Apollo Tyres Ltd: Apollo Tyres' plans to raise about Rs 1,725 crore through issue of securities was today approved by the shareholders of the company.
SAIL: Steel maker SAIL is in advanced stages of negotiation with Industrial Development Corporation of Odisha for acquiring 100 per cent and 50 per cent stake in its pig iron and chrome making subsidiaries respectively.
Tata Global Beverages Ltd: Tata Global Beverages (TGB) said it plans to achieve 100 per cent sustainable sourcing by year 2020. In a statement, Tata Global Beverages said its commitment to reduce the use of synthetic plant protection formulations in the supply chain is an integral part of TGBs commitment to greater sustainability to ensure the protection of the environment for the benefit of all.
NTPC & Jindal Steel: Public sector power producer NTPC has told the government that three private firms - Jindal Steel, Monnet Group and Sarada Energy and Minerals Ltd - are running their own operations within the demarcated areas of two coal blocks allotted to it, thwarting its plans to begin mining operations.
SpiceJet Ltd: Low-fare carrier SpiceJet has recently increased salaries of pilots and crew after three years, two people in the know said, a move which may give investors hope that all is not bad with the loss-making carrier.
Piramal Industries Ltd: The Ajay Piramal Group is exploring the possibility of buying into Infrastructure Leasing & Financial Services (IL&FS). The contours of the proposed deal which has been under negotiation for some time now will be clearer in the next one month.
Dr Reddy's Laboratories Ltd: Teva Pharmaceutical Industries Ltd. confirmed that it has received the first paragraph IV notice for its three-times-a-week COPAXONE(R) 40 mg/mL product from Dr. Reddy's Laboratories, Inc, said media reports.
Bhushan Steel Ltd: CBI today arrested Neeraj Singal, Vice Chairman and Managing Director of Bhushan Steel Ltd (BSL), in connection with Rs 50 lakh bribery scandal involving CMD of Syndicate Bank S K Jain.
Infosys: In his first week as Infosys' new CEO, Vishal Sikka has approved around 5,000 promotions to help retain key staff and improve employee morale at the software company. Infosys has promoted employees across sales, delivery and business enabling functions, and across geographies, ET learns.
HCL Technologies Ltd: HCL Technologies has bagged a $400 million (Rs 2,400 crore) deal from French telecommunications giant Alcatel Lucent for rolling out 2G/3G support services and R&D development.
Jet Airways Ltd: Jet Airways spokeswoman Srirupa Sen said that they do not have any information on Jetlite sale report.
India Cements Ltd: India Cements today reported a net loss of Rs 2.96 crore for the first quarter ending June 30, 2014 due to severe cost push and "flat" demand.
Trent Ltd: Tata group retail firm Trent Ltd reported over three-and-half-fold increase in standalone net profit at Rs 61.11 crore for the first quarter ended June 30, 2014-15, boosted by partial sale of stake in Trent Hypermarket to UK's Tesco.
Apollo Tyres Ltd: Apollo Tyres' plans to raise about Rs 1,725 crore through issue of securities was today approved by the shareholders of the company.
SAIL: Steel maker SAIL is in advanced stages of negotiation with Industrial Development Corporation of Odisha for acquiring 100 per cent and 50 per cent stake in its pig iron and chrome making subsidiaries respectively.
Tata Global Beverages Ltd: Tata Global Beverages (TGB) said it plans to achieve 100 per cent sustainable sourcing by year 2020. In a statement, Tata Global Beverages said its commitment to reduce the use of synthetic plant protection formulations in the supply chain is an integral part of TGBs commitment to greater sustainability to ensure the protection of the environment for the benefit of all.
NTPC & Jindal Steel: Public sector power producer NTPC has told the government that three private firms - Jindal Steel, Monnet Group and Sarada Energy and Minerals Ltd - are running their own operations within the demarcated areas of two coal blocks allotted to it, thwarting its plans to begin mining operations.
SpiceJet Ltd: Low-fare carrier SpiceJet has recently increased salaries of pilots and crew after three years, two people in the know said, a move which may give investors hope that all is not bad with the loss-making carrier.
Piramal Industries Ltd: The Ajay Piramal Group is exploring the possibility of buying into Infrastructure Leasing & Financial Services (IL&FS). The contours of the proposed deal which has been under negotiation for some time now will be clearer in the next one month.
Dr Reddy's Laboratories Ltd: Teva Pharmaceutical Industries Ltd. confirmed that it has received the first paragraph IV notice for its three-times-a-week COPAXONE(R) 40 mg/mL product from Dr. Reddy's Laboratories, Inc, said media reports.
Bhushan Steel Ltd: CBI today arrested Neeraj Singal, Vice Chairman and Managing Director of Bhushan Steel Ltd (BSL), in connection with Rs 50 lakh bribery scandal involving CMD of Syndicate Bank S K Jain.
Infosys: In his first week as Infosys' new CEO, Vishal Sikka has approved around 5,000 promotions to help retain key staff and improve employee morale at the software company. Infosys has promoted employees across sales, delivery and business enabling functions, and across geographies, ET learns.
HCL Technologies Ltd: HCL Technologies has bagged a $400 million (Rs 2,400 crore) deal from French telecommunications giant Alcatel Lucent for rolling out 2G/3G support services and R&D development.
STOCKS IN BAN PERIOD:
IBREALEST
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Jubilant Foodworks Ltd.
The stock has been trading in a range of 1325-1195 for the past 2 months with exceptionally high volume. The RSI has also gone below the 40% level. The stock can be shorted with the 1200 for the target of 1165-1146-1097- 1065
The stock has been trading in a range of 1325-1195 for the past 2 months with exceptionally high volume. The RSI has also gone below the 40% level. The stock can be shorted with the 1200 for the target of 1165-1146-1097- 1065
Low of 1105 on friday 8th August
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