Nifty Daily For 23rd Sept 2014

                   Nifty opened with a gap down of 37 points at 8084.45 and made a high of 8159.9. The market opened with huge gap down near support of 38.2% Fibonacci Retracement of 7925-8160 rise. The support along with dragonfly doji on hourly charts propelled the market up. The market tested the 8160 resistance and went down to close at 8146.30. The market is expected to trade in the range of 8160-8055. As long as 8050 is protected on the downside the market is expected to move up. A breach of this support will take market to 7750 level.  

                    The support for nifty is at 8125-8090-8055 and the resistance lies at 8175-8230-8286. Nifty September Future has been trading at 12-13 points premium to the spot. The implied volatility on the Nifty September Options of ATM strike calls were at 12.09 and for puts were at 9.64. India VIX closed at 11.565. PCR for Nifty based on open interest was at 1.06 and PCR for the day based on volumes was at 1.01 for the market.

CASH MARKET:

FII                   2666.51  -   2852.92  =   -186.41Cr.

DII                  1309.17  -   1277.68  =   31.49Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	5500.30	5335.37	164.92
INDEX OPTIONS	19234.76	19388.61	-153.85
STOCK FUTURES	10669.11	10997.77	-328.66
STOCK OPTIONS	2800.57	2864.69	-64.11

CORPORATE ACTION:

 

Company	Purpose	Ex-Date
The Sirpur Paper Mills Limited	Annual General Meeting	23-Sep-14
Sah Petroleums Limited	Annual General Meeting / Dividend - Re 0.01/- Per Share	23-Sep-14
KNR Constructions Limited	Annual General Meeting / Dividend - Re 1/- Per Share	23-Sep-14
Pratibha Industries Limited	Annual General Meeting / Dividend - Re 0.20/- Per Share	23-Sep-14
DS Kulkarni Developers Limited	Annual General Meeting / Dividend - Re 1/- Per Share	23-Sep-14
SKIL Infrastructure Limited	Annual General Meeting	23-Sep-14
Manjeera Constructions Limited	Annual General Meeting	23-Sep-14
Tarapur Transformers Limited	Annual General Meeting	23-Sep-14
Bil Energy Systems Limited	Annual General Meeting	23-Sep-14
Mohit Industries Limited	Annual General Meeting	23-Sep-14
Rolta India Limited	Annual General Meeting / Final Dividend - Rs 2.25/- Per Share	23-Sep-14

STOCKS IN NEWS:**

Colgate Palmolive India Ltd: The Board declared a First Interim Dividend for the Financial Year 2014-15 of Rs. 8 per share of Re 1 each (face value).

Maruti Suzuki India Ltd: The Delhi High Court Monday dismissed an appeal by the Haryana State Environmental Impact Assessment Authority (HSEIAA) against an order restraining it from "prosecuting" carmaker Maruti Suzuki for not having prior environment clearance (EC) for its unit in Rohtak.

PNB: Punjab National Bank (PNB) has said its plans to split its stock in ratio of 1:5 which would mean that the face value of its shares would be Rs 2 as against Rs 10 now making it more affordable to retail investors.

RIL Ltd: Reliance Jio Infocomm has signed a deal with Indus Towers to share the latter's 113,490 towers as the Mukesh Ambani-led telecom company prepares to roll out high speed internet services on LTE next year.

GMR Infrastructure Ltd: GMR Infrastructure Ltd has sought market regulator Sebi's clearance to raise up to Rs 1,500 crore through a rights issue.

L&T, ITC and Axis Bank: Buoyed by the success of its exchange-traded fund comprising stocks of state-owned companies, the government is now looking to launch another such exercise to take advantage of the ownership of blue chips such as ITC and Larsen & Toubro through the Specified Undertaking of Unit Trust of India (SUUTI), besides some other key public sector stocks.

CIL: Coal India may raise prices of lower-grade coal, used to generate power, by a little over 10%, a move that will help offset the fall in miner's revenues from selling smaller volumes through e-auctions, said media reports.

Jaiprakash Power Ventures: The Central Electricity Authority (CEA) is likely to issue a show cause notice to JP Associates' 100% subsidiary Jaiprakash Power Ventures (JPVL) for violating techno-economic clearance (TEC) conditions in the Karcham Wangtoo project, said media reports.

STOCKS IN BAN PERIOD:

 1    CENTURYTEX
2    GMRINFRA
3    HDIL
4    IBREALEST
5    IRB
6    JPASSOCIAT
7    UNITECH

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

GSFC
The Stock has been consolidating for past six days. On the hourly charts the stock has given a rounding bottom pattern. the stock can be bought with the stop loss of 101 for the target of  115-118-121.