Nifty opened with a gap down of 1 points at 8035 and remained the high of for the day. The gap at 8122-8126 was quickly filled up and market made a low of 8082.The market has given breakdown of the rising wedge pattern it has been forming for past month. The pattern target lies at 7845 with the stop loss of 8160. This pattern target coincides with the 50% Fibonacci Retracement (7860) and previous intermediate top at 7840 and hence has great significance. As long as 8130 is not taken out on closing basis the market should be shorted on rise towards the 8110 levels.
The support for nifty is at 8060-8014-7980 and the resistance lies at 8127-8172-8215. Nifty September Future
has been trading at 36-37 points premium to the spot. The implied volatility on
the Nifty September Options of ATM strike calls were at 13.07 and for puts were at 11.54. India VIX closed at 12.93.
PCR for Nifty based on open interest was at 1.05 and PCR for the day based on
volumes was at 0.97 for the market.
CASH MARKET:
FII 3117.67 - 3127.58 = -9.91Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1369.63 | 2197.61 | -827.97 |
| INDEX OPTIONS | 10515.80 | 9607.38 | 908.42 |
| STOCK FUTURES | 1699.20 | 2458.38 | -759.17 |
| STOCK OPTIONS | 1669.68 | 1653.66 | 16.02 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Kohinoor Foods Limited | Annual General Meeting | 11-Sep-14 |
| Wonderla Holidays Limited | Annual General Meeting / Final Dividend - Rs 1.50/- Per Share | 11-Sep-14 |
| Coral India Finance & Housing Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 11-Sep-14 |
| Rashtriya Chemicals and Fertilizers Limited | Annual General Meeting / Final Dividend - Rs 1.50/- Per Share | 11-Sep-14 |
| Infinite Computer Solutions (India) Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share (Agm Date & Bc End Date Revised) | 11-Sep-14 |
| Malu Paper Mills Limited | Annual General Meeting | 11-Sep-14 |
| Jindal Poly Films Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 11-Sep-14 |
| HB Stockholdings Limited | Annual General Meeting | 11-Sep-14 |
| Bannari Amman Sugars Limited | Annual General Meeting / Dividend - Rs 12.50/- Per Share | 11-Sep-14 |
| Future Market Networks Limited | Annual General Meeting | 11-Sep-14 |
| KEI Industries Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 11-Sep-14 |
| NEPC Agro Foods Limited | Annual General Meeting | 11-Sep-14 |
| MT Educare Limited | Annual General Meeting | 11-Sep-14 |
| BSL Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 11-Sep-14 |
| Pradip Overseas Limited | Annual General Meeting | 11-Sep-14 |
| Patel Engineering Limited | Annual General Meeting | 11-Sep-14 |
| Cords Cable Industries Limited | Annual General Meeting | 11-Sep-14 |
| Dredging Corporation of India Limited | Annual General Meeting/Dividend - Rs 3/- Per Share | 11-Sep-14 |
| NHPC Limited | Annual General Meeting / Final Dividend - Re 0.30/- Per Share | 11-Sep-14 |
| Panasonic Appliances India Company Limited | Annual General Meeting | 11-Sep-14 |
| Mandhana Industries Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share | 11-Sep-14 |
| C. Mahendra Exports Limited | Annual General Meeting | 11-Sep-14 |
| Jain Irrigation Systems Limited | Annual General Meeting / Dividend - Re 0.50/- Per Share | 11-Sep-14 |
| The Ugar Sugar Works Limited | Annual General Meeting (Agm & Book Closure Start Date Revised) | 11-Sep-14 |
| Dhanuka Agritech Limited | Annual General Meeting / Final Dividend - Rs 2/- Per Share | 11-Sep-14 |
| Symphony Limited | Annual General Meeting / Final Dividend - Rs 11/- Per Share | 11-Sep-14 |
| Talwalkars Better Value Fitness Limited | Annual General Meeting / Dividend - Rs 1.50 Per Share (Bc Dates Revised) | 11-Sep-14 |
| Servalakshmi Paper Limited | Annual General Meeting | 11-Sep-14 |
| Ester Industries Limited | Annual General Meeting / Final Dividend - Re 0.50/- Per Share | 11-Sep-14 |
| Tribhovandas Bhimji Zaveri Limited | Annual General Meeting / Dividend - Rs 1.50/- Per Share + Special Dividend - Re 0.75/- Per Share | 11-Sep-14 |
| Sun Pharmaceuticals Industries Limited | Annual General Meeting / Dividend - Rs 1.50/- Per Share | 11-Sep-14 |
| Jain Irrigation Systems Limited | Annual General Meeting / Dividend - Re 0.50/- Per Share | 11-Sep-14 |
| Sundram Fasteners Limited | Annual General Meeting | 11-Sep-14 |
| KLRF Limited | Annual General Meeting | 11-Sep-14 |
| Take Solutions Limited | Annual General Meeting / Dividend - Re 0.40/- Per Share | 11-Sep-14 |
| TGB BANQUETS AND HOTELS LIMITED | Annual General Meeting | 11-Sep-14 |
| Just Dial Limited | Annual General Meeting / Dividend - Rs.2/- Per Share | 11-Sep-14 |
| Jindal Poly Investment and Finance Company Limited | Annual General Meeting | 11-Sep-14 |
| ATN International Limited | Annual General Meeting | 11-Sep-14 |
STOCKS IN NEWS:**
Wipro Ltd: Wipro said that it will partner with Vellore Institute of Technology to train its graduates hired this year in analytics space as the Bangalore-based company looks to overcome the shortage of data scientists in the industry.
ABG Shipyard Ltd: Debt-laden ABG Shipyard hopes to exit its investments in Emerging Markets Diversified Fund of Standard Chartered Trust (Cayman) by October 31 to comply with the conditions set in the corporate debt restructuring (CDR) package, said media reports.
Cox & Kings Ltd: Leisure Travel arranger Cox & Kings, which has nearly doubled to Rs 300 over the last four months, is planning to raise about Rs 300-350 crore via QIP over the next few weeks, say sources.
IDFC Ltd: Infrastructure financing firm IDFC plans to raise Rs 2,000 crore from share sale to institutional investors through an issue which opened today.
Coal India, ONGC & NHPC: The government kicked off the big-bang disinvestment programme it announced in the budget on Wednesday with the cabinet committee on economic affairs (CCEA) clearing stake sales in Coal India, ONGC and hydropower utility NHPC.
NTPC Ltd: The board of directors of NTPC, country's largest power producer, has approved investment of over Rs 10,000 crore for executing two thermal plants.
IOC: The Uttar Pradesh government and Indian Oil Corporation signed a memorandum of understanding to expedite city gas projects and promote distribution of natural gas in the state.
SBI: In a move that is the first of its kind in the public sector banking space, State Bank of India plans to roll out an employee stock option scheme (ESOS) for its 2.19 lakh employees.
STOCKS IN BAN PERIOD:
1 HDIL
2 IBREALEST
3 IRB
4 JPASSOCIAT
2 IBREALEST
3 IRB
4 JPASSOCIAT
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Canara Bank
The stock has given a cup and handle breakout on the hourly charts. The pattern target lies at 345 with the stop loss of 385. The stock can be bought with the stop loss of 393 for the target of 412.55-419.75-433
The stock has given a cup and handle breakout on the hourly charts. The pattern target lies at 345 with the stop loss of 385. The stock can be bought with the stop loss of 393 for the target of 412.55-419.75-433
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