Nifty opened with a gap down of 10 points at 7848.8 and made a high of 8030.9. The RBI Credit Policy was a non event as expected. Many in the market were banking on a dovish forecast, which was no the case. The Market makes some gains and lose it at the end of the day, which has bearish nature. The market can be shorted on rise towards 8050 with the stop loss of 8075.
The support for nifty is at 7935-7895-7840 and the resistance lies at 8015-8053-8091. Nifty October Future
has been trading at 34-35 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 10.31 and for puts were at 14.3. India VIX closed at 13.145.
PCR for Nifty based on open interest was at 0.98 and PCR for the day based on
volumes was at 0.93 for the market.
CASH MARKET:
FII 4506.77 - 4992.7 = -485.93Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2021.02 | 1789.02 | 232.00 |
| INDEX OPTIONS | 15776.78 | 14237.71 | 1539.08 |
| STOCK FUTURES | 3009.51 | 2686.96 | 322.55 |
| STOCK OPTIONS | 1838.26 | 1861.45 | -23.19 |
IOC, HPCL, BPCL: State oil firms have slashed petrol prices by 65 paise per litre from Wednesday because of falling international oil prices, which may also brighten ruling BJP's prospects in Maharashtra and Haryana assembly elections.
SpiceJet & Jet Airways: The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 2,077.62 per kilolitre, or 2.98 per cent, to Rs 67,525.63 per kl, the nation's largest fuel retailer said.
Wipro Ltd: The government has approved the proposals of Wipro Ltd and Mumbai Futuristic Economic Zone to set up SEZs in Andhra Pradesh and Maharashtra.
IVRCL: Cash strapped infrastructure major IVRCL Ltd has put up Rs 4,000 crore worth of assets for sale and expects to come out of debt burden in the next two years once the sale is successful, a senior official has said.
Reliance Capital Ltd: Laying out an ambitious growth agenda for Reliance Capital, Anil Ambani today said the company would triple the capital deployed in housing finance activities besides looking to double market capitalisation in next three to four years.
Apollo Hospitals Ltd: Healthcare major Apollo Hospitals and global pharma firm Sanofi today joined hands to provide diabetes care programmes through the Indian healthcare major's Apollo Sugar Clinics.
JSW Steel Ltd: Despite rise in input costs and higher duty on import of coking coal, JSW Steel Limited today announced cut in the prices of steel products for the month of October. The company has cut Rs 500-750 per tonne for flat products and Rs 1,000 per tonne for long products, said media reports.
IDFC Ltd: Infrastructure financing company IDFC Ltd has further pared its foreign investment limit to 48 per cent to meet requirements for the banking operations after having granted a licence by RBI earlier this year.
State Bank of India: Deposit rates have started moving down even as Reserve Bank of India governor Raghuram Rajan on Tuesday kept rates unchanged. State Bank of India said that it has reduced rates on term deposits up to 45 days by one percentage point to 6% - the second downward revision in a month.
Shemaroo Entertainment Ltd: Shemaroo Entertainment Ltd shares will list on Wednesday, October 1, 2014. The equity shares of Shemaroo Entertainment Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities.
Reliance Power: Reliance Power (RPower) plans to invest nearly Rs 50,000 crore in the next five years to undertake various expansion projects, including increasing power generation and coal production.
NTPC: State-run National Thermal Power Corporation today signed a coal-swapping agreement with Gujarat State Electricity Corporation (GSEC) at Gandhinagar to swap 10 lakh metric tonnes (MT) of coal.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Bajaj-Auto:
The Stock has been moving in the down direction since hitting the high of 2457. On the daily charts it has formed a bullish harami with good volume. Buy the stock for the target of 2374-2393-2415 with the stop loss of 2330 on closing basis.
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