Nifty opened with a gap down of 12 points at 8161.9 and made a high of 8174.55. The market stayed sideways after sharp move for past two days. Market bounced back sharply once it tested the Monday low 8126. It is expected to move up towards the high of 8180. As long as the gap at 8122-8126 is left unfilled the market is expected to resume its journey towards the 8364 target.
The support for nifty is at 8130-8084-8040 and the resistance lies at 8162-8190-8230. Nifty September Future
has been trading at 29-30 points premium to the spot. The implied volatility on
the Nifty September Options of ATM strike calls were at 11.44 and for puts were at 12.5. India VIX closed at 12.7575.
PCR for Nifty based on open interest was at 1.15 and PCR for the day based on
volumes was at 1.03 for the market.
CASH MARKET:
FII 2716.67 - 2237.27 = 479.4Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 598.32 | 865.95 | -267.63 |
| INDEX OPTIONS | 8709.93 | 8887.99 | -178.06 |
| STOCK FUTURES | 1758.47 | 1908.30 | -149.83 |
| STOCK OPTIONS | 1556.21 | 1593.15 | -36.95 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Ruchira Papers Limited | Annual General Meeting / Final Dividend - Rs 1.20/- Per Share | 10-Sep-14 |
| Jenson & Nicholson (India) Limited | Annual General Meeting | 10-Sep-14 |
| MMTC Limited | Annual General Meeting / Fianl Dividend - Re 0.15/- Per Share | 10-Sep-14 |
| Kothari Products Limited | Annual General Meeting / Dividend - Rs 6/- Per Share | 10-Sep-14 |
| GTL Limited | Annual General Meeting | 10-Sep-14 |
| GTL Infrastructure Limited | Annual General Meeting | 10-Sep-14 |
| GTN Textiles Limited | Annual General Meeting | 10-Sep-14 |
| Aban Offshore Limited | Annual General Meeting And Dividend Rs.3.60 Per Share | 10-Sep-14 |
| Patspin India Limited | Annual General Meeting | 10-Sep-14 |
| Jyoti Structures Limited | Annual General Meeting | 10-Sep-14 |
| Relaxo Footwears Limited | Annual General Meeting / Dividend - Re 0.50/- Per Share | 10-Sep-14 |
| Pondy Oxides & Chemicals Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 10-Sep-14 |
| Jindal Worldwide Limited | Annual General Meeting / Dividend - Re 0.50/- Per Share | 10-Sep-14 |
| The Motor & General Finance Limited | Annual General Meeting | 10-Sep-14 |
| Dolphin Offshore Enterprises (India) Limited | Annual General Meeting | 10-Sep-14 |
STOCKS IN NEWS:**
ICICI Bank Ltd: ICICI Bank, country's largest private lender, approved sub-division of one equity share into five with the aim to increase liquidity of scrip.
NTPC Ltd: Country's largest thermal power producer NTPC has paid a dividend of Rs 4,741.16 crore to the government for the financial year 2013-14.
Bajaj Auto Ltd: Bajaj Auto launched two supersport motorcycles from Austrian partner KTM's stable -- RC 390 and RC 200, priced at Rs 2.05 lakh and Rs 1.60 lakh respectively (ex-showroom Delhi).
Hindalco Industries Ltd: Government is likely to cancel the approvals granted by it to nine companies including Hindalco Industries, Essar and Adani for setting up of special economic zones as no work has been done to execute the projects.
Wockhardt: Drug maker Wockhardt Ltd plans to merge units Vinton Healthcare Pvt. Ltd and Wockhardt Biopharm Ltd with itself as part of a new business realignment.
Lanco Infratech: The Company said on Tuesday that it planned to sell power projects to raise 50 billion rupees ($825 million) and pay down its debts.
Biocon Ltd: Drug maker Biocon today acquired GE Capital's entire 7.69 per cent stake in its research services subsidiary Syngene International for Rs 215.38 crore.
Ranbaxy Laboratories Ltd: Sun Pharmaceutical Industries, India's biggest drug maker, is planning to firm up a series of measures soon with the aim to improve field force productivity in domestic operations of Ranbaxy Laboratories, the company it is in the process of acquiring from its Japanese parent Daiichi Sankyo.
IRB Infrastructure Ltd: With nearly 3,500 kms of road projects likely to be bid out by the National Highways Authority of India ( NHAI) this fiscal, toll-road firm IRB Infrastructure Developers said it expects to bag at least 200-300 km of contracts.
Sesa Sterlite Ltd: The Bombay High Court has put on hold a lower court's order that asked Sesa Sterlite Ltd (SSL) to vacate 500 acres of land allocated to it for a copper smelting plant in Ratnagiri.
NTPC Ltd: Country's largest thermal power producer NTPC has paid a dividend of Rs 4,741.16 crore to the government for the financial year 2013-14.
Bajaj Auto Ltd: Bajaj Auto launched two supersport motorcycles from Austrian partner KTM's stable -- RC 390 and RC 200, priced at Rs 2.05 lakh and Rs 1.60 lakh respectively (ex-showroom Delhi).
Hindalco Industries Ltd: Government is likely to cancel the approvals granted by it to nine companies including Hindalco Industries, Essar and Adani for setting up of special economic zones as no work has been done to execute the projects.
Wockhardt: Drug maker Wockhardt Ltd plans to merge units Vinton Healthcare Pvt. Ltd and Wockhardt Biopharm Ltd with itself as part of a new business realignment.
Lanco Infratech: The Company said on Tuesday that it planned to sell power projects to raise 50 billion rupees ($825 million) and pay down its debts.
Biocon Ltd: Drug maker Biocon today acquired GE Capital's entire 7.69 per cent stake in its research services subsidiary Syngene International for Rs 215.38 crore.
Ranbaxy Laboratories Ltd: Sun Pharmaceutical Industries, India's biggest drug maker, is planning to firm up a series of measures soon with the aim to improve field force productivity in domestic operations of Ranbaxy Laboratories, the company it is in the process of acquiring from its Japanese parent Daiichi Sankyo.
IRB Infrastructure Ltd: With nearly 3,500 kms of road projects likely to be bid out by the National Highways Authority of India ( NHAI) this fiscal, toll-road firm IRB Infrastructure Developers said it expects to bag at least 200-300 km of contracts.
Sesa Sterlite Ltd: The Bombay High Court has put on hold a lower court's order that asked Sesa Sterlite Ltd (SSL) to vacate 500 acres of land allocated to it for a copper smelting plant in Ratnagiri.
STOCKS IN BAN PERIOD:
1 HDIL
2 IBREALEST
3 JPASSOCIAT
2 IBREALEST
3 JPASSOCIAT
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Jain Irrigation Systens Ltd.
The stock has been falling since hitting the high of 133.4 and has formed on the daily charts. The stock is near its 61.8% fibonnacci retracement level of the rise 56 to 133. The stock can be bought with the stop loss of 90.55 for the targets of 96.55-100.05-102.25 .
The stock has been falling since hitting the high of 133.4 and has formed on the daily charts. The stock is near its 61.8% fibonnacci retracement level of the rise 56 to 133. The stock can be bought with the stop loss of 90.55 for the targets of 96.55-100.05-102.25 .
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