Nifty opened with a gap down of 35 points at 8070 and made a high of 8077. In 11th September Daily report I had mentioned that "As long as 8130 is not taken out on closing basis the market should be shorted on rise towards the 8110 levels." This is what happened. The index has completed the Head & Shoulders Pattern on the hourly charts with this move. The pattern target lies at 7934 with the stop loss of 8100. The RSI has also tested 40% (bearish level) moved down to 37. The market should be shorted on rise 8050
The support for nifty is at 8027-7985-7940 and the resistance lies at 8074-8115-8154. Nifty September Future
has been trading at 20-21 points premium to the spot. The implied volatility on
the Nifty September Options of ATM strike calls were at 12.14 and for puts were at 13.44. India VIX closed at 13.3025.
PCR for Nifty based on open interest was at 0.96 and PCR for the day based on
volumes was at 0.9 for the market.
CASH MARKET:
FII 3035.25 - 3109.84 = -74.59Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1439.82 | 2834.74 | -1394.93 |
| INDEX OPTIONS | 13862.28 | 12937.28 | 925.00 |
| STOCK FUTURES | 1787.50 | 2319.26 | -531.76 |
| STOCK OPTIONS | 1782.80 | 1856.40 | -73.59 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Tamilnadu Telecommunication Limited | Annual General Meeting | 16-Sep-14 |
| Surana Ventures Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 16-Sep-14 |
| Maxwell Industries Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 16-Sep-14 |
| Golden Tobacco Limited | Annual General Meeting (Agm And Book Closure Dates Revised) | 16-Sep-14 |
| VLS Finance Limited | Annual General Meeting | 16-Sep-14 |
| Bhagyanagar India Limited | Annual General Meeting / Dividend - Re 0.30/- Per Share | 16-Sep-14 |
| Surana Telecom and Power Limited | Annual General Meeting / Dividend - Re 0.60/- Per Share | 16-Sep-14 |
| Trigyn Technologies Limited | Annual General Meeting / Final Dividend - Re 0.50/- Per Share | 16-Sep-14 |
| The Peria Karamalai Tea & Produce Company Limited | Annual General Meeting / Dividend - Rs 1.50/- Per Share | 16-Sep-14 |
| Global Offshore Services Limited | Annual General Meeting And Final Dividend Re.1.20 Per Share | 16-Sep-14 |
| Maithan Alloys Limited | Annual General Meeting / Dividend - Rs 2/- Per Share | 16-Sep-14 |
| Sona Koyo Steering Systems Limited | Annual General Meeting / Final Dividend - Re 0.80/- Per Share | 16-Sep-14 |
| MSP Steel & Power Limited | Annual General Meeting | 16-Sep-14 |
| SHREE GANESH JEWELLERY HOUSE (I) LIMITED | Annual General Meeting | 16-Sep-14 |
| Gateway Distriparks Limited | Annual General Meeting | 16-Sep-14 |
| Cinevista Limited | Annual General Meeting | 16-Sep-14 |
| Tainwala Chemical and Plastic (I) Limited | Annual General Meeting | 16-Sep-14 |
| Donear Industries Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 16-Sep-14 |
STOCKS IN NEWS:**
IT stocks will be in focus after Cognizant announced that it will acquire US-based healthcare technology & operations company Trizetto for about $2.7 billion in cash.
Wipro Ltd: Wipro Arabia, a subsidiary of India's third largest IT firm Wipro, has bagged a contract from Saudi-based Saudi Electricity Company (SEC) for implementing and rolling out plant maintenance and project system functionality of SAP ERP application.
Hero MotoCorp Ltd: Hero Motors will set up a two- wheeler manufacturing plant at Sri City SEZ in Chittoor district of Andhra Pradesh. The state cabinet which met here today under the chairmanship of Chief Minister N Chandrababu Naidu decided to allocate 600 acres of land for the unit, official sources said.
Tata Motors Ltd: Tata Motors Ltd's global sales (including Jaguar Land Rover) declined 10% to 73,524 units in August from a year ago, the company said in a statement on Monday, said media reports.
JSW Steel Ltd: Private steel major JSW Steel is planning to acquire Italy's Lucchini SpA for less than $ 100 million and start operations in the current calendar year.
Mastek Ltd: Mastek is demerging its insurance products and services business into a separate listed entity, to be called Majesco Ltd, to capitalize on the growing opportunity in the US insurance market, the latest in a line of companies to create independent unit to focus on their products business.
GAIL Ltd: State-run gas utility GAIL India Ltd said it has made available natural gas from alternate sources to industries in Gujarat whose domestic fuel allocation was snapped to give fuel for CNG sector.
Pantaloons Fashion & Retail Ltd: Foreign fund house Morgan Stanley Asia (Singapore) today picked up nearly 26.7 lakh shares of clothing retail firm Pantaloons for a little over Rs 32 crore through the open market route.
MCX Ltd: As crisis at its erstwhile promoter group continues to cast a shadow, MCX Stock Exchange on Monday got a one-year conditional renewal to function as a bourse and regulator Sebi asked it to submit a long-term sustainable business plan and take other remedial actions.
Mangalore Chemicals and Fertilizers Ltd: The battle for control of Vijay Mallya-promoted Mangalore Chemicals and Fertilizers Ltd is set to start in earnest as the Competition Commission of India (CCI) has cleared an open offer launched by Zuari Group firms in association with UB Group's associate companies, said media reports.
HUL: India's largest soaps and detergent maker Hindustan Unilever has begun talks with private equity fund Everstone Capital for a possible equity joint venture for its Modern Foods division which makes bread and rusks under the Modern brand, three people involved with the plan said.
Jet Airways Ltd: Jet Airways and Qatar Airways are offering huge discounts in a desperate bid to take on Emirates and Singapore Airlines whose recently started A380 flights are scooping passengers in big chunks.
Persistent Systems Ltd: IT firm Persistent Systems said it will invest $ 100,000 (over Rs 61 lakh) in Pune- based products company, Altizon.
Bosch & ZF Steering Gear India Ltd: German car parts maker ZF Friedrichshafen agreed to sell its steering systems business to Robert Bosch, a deal that paves the way for ZF to buy US-based TRW Automotive Holdings Corp.
Wipro Ltd: Wipro Arabia, a subsidiary of India's third largest IT firm Wipro, has bagged a contract from Saudi-based Saudi Electricity Company (SEC) for implementing and rolling out plant maintenance and project system functionality of SAP ERP application.
Hero MotoCorp Ltd: Hero Motors will set up a two- wheeler manufacturing plant at Sri City SEZ in Chittoor district of Andhra Pradesh. The state cabinet which met here today under the chairmanship of Chief Minister N Chandrababu Naidu decided to allocate 600 acres of land for the unit, official sources said.
Tata Motors Ltd: Tata Motors Ltd's global sales (including Jaguar Land Rover) declined 10% to 73,524 units in August from a year ago, the company said in a statement on Monday, said media reports.
JSW Steel Ltd: Private steel major JSW Steel is planning to acquire Italy's Lucchini SpA for less than $ 100 million and start operations in the current calendar year.
Mastek Ltd: Mastek is demerging its insurance products and services business into a separate listed entity, to be called Majesco Ltd, to capitalize on the growing opportunity in the US insurance market, the latest in a line of companies to create independent unit to focus on their products business.
GAIL Ltd: State-run gas utility GAIL India Ltd said it has made available natural gas from alternate sources to industries in Gujarat whose domestic fuel allocation was snapped to give fuel for CNG sector.
Pantaloons Fashion & Retail Ltd: Foreign fund house Morgan Stanley Asia (Singapore) today picked up nearly 26.7 lakh shares of clothing retail firm Pantaloons for a little over Rs 32 crore through the open market route.
MCX Ltd: As crisis at its erstwhile promoter group continues to cast a shadow, MCX Stock Exchange on Monday got a one-year conditional renewal to function as a bourse and regulator Sebi asked it to submit a long-term sustainable business plan and take other remedial actions.
Mangalore Chemicals and Fertilizers Ltd: The battle for control of Vijay Mallya-promoted Mangalore Chemicals and Fertilizers Ltd is set to start in earnest as the Competition Commission of India (CCI) has cleared an open offer launched by Zuari Group firms in association with UB Group's associate companies, said media reports.
HUL: India's largest soaps and detergent maker Hindustan Unilever has begun talks with private equity fund Everstone Capital for a possible equity joint venture for its Modern Foods division which makes bread and rusks under the Modern brand, three people involved with the plan said.
Jet Airways Ltd: Jet Airways and Qatar Airways are offering huge discounts in a desperate bid to take on Emirates and Singapore Airlines whose recently started A380 flights are scooping passengers in big chunks.
Persistent Systems Ltd: IT firm Persistent Systems said it will invest $ 100,000 (over Rs 61 lakh) in Pune- based products company, Altizon.
Bosch & ZF Steering Gear India Ltd: German car parts maker ZF Friedrichshafen agreed to sell its steering systems business to Robert Bosch, a deal that paves the way for ZF to buy US-based TRW Automotive Holdings Corp.
STOCKS IN BAN PERIOD:
1 IBREALEST
2 IRB
3 JPASSOCIAT
2 IRB
3 JPASSOCIAT
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
IndusInd Bank:
The Stock has been moving in a rising channel from the 533 level to the life time high of 633.9. The Stock has broken down this channel. The pattern target lies at 588 with the stop loss of 628. For the short term sell the stock with 625 as stop loss for the target of 617.6-612.75-603.
The Stock has been moving in a rising channel from the 533 level to the life time high of 633.9. The Stock has broken down this channel. The pattern target lies at 588 with the stop loss of 628. For the short term sell the stock with 625 as stop loss for the target of 617.6-612.75-603.
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