Nifty opened flat at 8144.4 and made a high of 8159.75. The market failed to cross the key resistance of 8160 and went down towards the support of 8000. The market has given a breakdown of a Double Top Pattern. The pattern target lies at 7960 with the stop loss of 8090. On the daily charts the market is moving in a rising wedge. The support trendline is also at 7960. Also 7970 is 61.8% Fibonacci retacement of the rise from 7840-8162 Thus the 7960 level is very crucial support and breach of this support will take the market towards the 7840 levels.
The support for nifty is at 8000-7960-7914 and the resistance lies at 8052-8088-8125. Nifty September Future
has been trading at 14-15 points premium to the spot. The implied volatility on
the Nifty September Options of ATM strike calls were at 18.31 and for puts were at 14.12. India VIX closed at 12.41.
PCR for Nifty based on open interest was at 1.06 and PCR for the day based on
volumes was at 1.02 for the market.
CASH MARKET:
FII 3951.71 - 5136.88 = -1185.17Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 5887.53 | 6203.14 | -315.60 |
| INDEX OPTIONS | 26969.32 | 25523.50 | 1445.83 |
| STOCK FUTURES | 12564.56 | 13004.52 | -439.97 |
| STOCK OPTIONS | 3460.07 | 3595.79 | -135.72 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| MIC Electronics Limited | Annual General Meeting | 24-Sep-14 | - |
| Noesis Industries Limited | Annual General Meeting | 24-Sep-14 | - |
| Malwa Cotton Spg. Mills Limited | Annual General Meeting | 24-Sep-14 | - |
| Rana Sugars Limited | Annual General Meeting | 24-Sep-14 | - |
| Technocraft Industries (India) Limited | Annual General Meeting | 24-Sep-14 | - |
| DSJ Communications Limited | Annual General Meeting | 24-Sep-14 | - |
| Ucal Fuel Systems Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 24-Sep-14 | - |
| Kavveri Telecom Products Limited | Annual General Meeting | 24-Sep-14 | - |
| Kernex Microsystems (India) Limited | Annual General Meeting | 24-Sep-14 | - |
| Opto Circuits (India) Limited | Annual General Meeting | 24-Sep-14 | - |
| Tanla Solutions Limited | Annual General Meeting | 24-Sep-14 | - |
| Oracle Financial Services Software Limited | Interim Dividend - Rs 485/- Per Share | 24-Sep-14 | 25-Sep-14 |
| Prudential Sugar Corporation Limited | Annual General Meeting | 24-Sep-14 | - |
| Housing Development and Infrastructure Limited | Annual General Meeting | 24-Sep-14 | - |
| La Opala RG Limited | Sub-Division From Rs 10/- Per Share To Rs 2/- Per Share | 24-Sep-14 | 25-Sep-14 |
| Hotel Rugby Limited | Annual General Meeting | 24-Sep-14 | - |
| Panchsheel Organics Limited | Annual General Meeting And Dividend Re.0.50 Per Share | 24-Sep-14 | - |
| Alpa Laboratories Limited | Annual General Meeting | 24-Sep-14 | - |
| Sangam (India) Limited | Annual General Meeting And Dividend Rs.1.50 Per Share | 24-Sep-14 | - |
| PBA Infrastructure Limited | Annual General Meeting | 24-Sep-14 | - |
| Krishna Filaments Limited | Annual General Meeting | 24-Sep-14 | - |
| OM Metals Infraprojects Limited | Annual General Meeting / Dividend - Re 0.10/- Per Share | 24-Sep-14 | - |
| Bharatiya Global Infomedia Limited | Annual General Meeting | 24-Sep-14 | - |
| Ramky Infrastructure Limited | Annual General Meeting | 24-Sep-14 | - |
| Diamond Power Infra Ltd | Annual General Meeting | 24-Sep-14 | - |
| KSS Limited | Annual General Meeting | 24-Sep-14 | - |
| XL Energy Limited | Annual General Meeting | 24-Sep-14 | - |
| Commercial Engineers & Body Builders Co Limited | Annual General Meeting | 24-Sep-14 | - |
| Shyam Telecom Limited | Annual General Meeting | 24-Sep-14 | - |
| AML Steel Limited | Annual General Meeting | 24-Sep-14 | - |
| Aravali Industries Limited | Annual General Meeting | 24-Sep-14 | - |
| Electrotherm (India) Limited | Annual General Meeting | 24-Sep-14 | - |
| Refex Refrigerants Limited | Annual General Meeting | 24-Sep-14 | - |
| Samtel Color Limited | Annual General Meeting | 24-Sep-14 | - |
| Tijaria Polypipes Limited | Annual General Meeting | 24-Sep-14 | - |
| Arvind Remedies Limited | Annual General Meeting / Dividend - Re 0.80/- Per Share | 24-Sep-14 | - |
| Advance Metering Technology Limited | Annual General Meeting | 24-Sep-14 | - |
| Credit Analysis And Research Limited | Annual General Meeting/Final Dividend Rs.10/- Per Share And Special Dividend Rs.65/- Per Share (Purpose Revised) | 24-Sep-14 | - |
| Green Fire Agri Commodities Limited | Annual General Meeting | 24-Sep-14 | - |
| BS LIMITED | Annual General Meeting / Final Dividend - Re 0.10/- Per Share | 24-Sep-14 | - |
| Birla Cotsyn (India) Limited | Annual General Meeting | 24-Sep-14 | - |
| Vivimed Labs Limited | Annual General Meeting / Dividend - Rs 3/- Per Share | 24-Sep-14 | - |
| Rajesh Exports Limited | Annual General Meeting / Dividend - Re 1/- Per Share | 24-Sep-14 | - |
| Sumeet Industries Limited | Annual General Meeting | 24-Sep-14 | - |
| Northgate Com Tech Limited | Annual General Meeting | 24-Sep-14 | - |
| SHRI ASTER SILICATES LIMITED | Annual Book Closure | 24-Sep-14 | - |
| MVL Limited | Annual General Meeting | 24-Sep-14 | - |
STOCKS IN NEWS:**
M&M Ltd: Homegrown auto major Mahindra & Mahindra is looking to take on scooter market leader Honda's flagship model Activa with its upcoming model Gusto.
Hindalco, JSPL: The apex court will pronounce its verdict at 2 PM on blocks whose allocation was declared illegal by it and in which government claimed that Rs 2 lakh crore investments have been made
Jet Airways Ltd: Jet Airways Tuesday announced all economy fares of Rs 1,162 for flights from Bangalore to various cities. The airline is the latest to join the spate of fare wars that have been on this year, helping carriers fill their planes but also hurting their margins.
Venus Remedies Ltd: Pharma firm Venus Remedies Ltd has targeted a turnover of Rs 1000 crore by FY'18, even as it eyes partners in Europe and the US for out licensing some of its drugs.
Reliance Industries Ltd: The Supreme Court on Tuesday appointed Michael Kirby, a former judge of the Australian High Court, as the third arbitrator who will preside over a three-member arbitral panel which would adjudicate the cost recovery row between the Indian government and RIL on the KG-D6 block.
JSW Energy Ltd: JSW Energy on Tuesday said one of its joint ventures has received the environmental clearance to increase the annual mining capacity of Kapurdi Lignite Mines to seven million tonnes for a period of four years.
Thermax Ltd: Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES), a joint venture of Thermax Ltd. and US-based Babcock & Wilcox Power Generation Group (B&W PGG) Inc. has won an export order valued at approximately Rs. 339 crore, said media reports.
DLF Ltd: DLF Ltd is in the process of acquiring the 40% economic interest of promoters Kushal Pal Singh and his family in its rental business DLF Assets Pvt Ltd through a share swap deal, two persons familiar with the transaction said.
SBI: State Bank of India, the country's biggest lender, is likely to put on hold the plan to merge some of its subsidiary banks with itself, as it does not see "value" in the move in the current fiscal.
SAIL: Steel Authority of India ( SAIL) is finalizing a plan to nearly double steelmaking capacity to 50 million tonne (mt) by 2025 at an investment of Rs 1,50,000 crore. In step with a planned hike in capacity, the company said it has secured a 30-year mining lease from union mines ministry for iron ore at Dhul khera village, in Rajasthan's Bhilwara district.
Pidilite Industries: Pidilite has acquired the adhesive business of Ahmedabad-based Blue Coat, which is engaged in manufacturing and selling wide range of adhesives and textile chemicals, on a slump sale basis for a cash consideration of Rs 263.57 crore
Essar Oil: In a reprieve to Essar Oil in the Gujarat sales tax case, the Supreme Court on Tuesday granted further six months to pay the last installment of R671 crore, including interest, towards its outstanding sales tax liability, to the Gujarat government, said media reports.
HCC Ltd: Hindustan Construction Company (HCC) said on Tuesday it is in discussions with the Piramal Group, along with several others, for the sale of three road projects in West Bengal as part of the group's de-leveraging exercise, said media reports.
India Cements: India Cements on Tuesday said it plans to demerge its IPL franchisee - Chennai Super Kings (CSK) - into a wholly-owned subsidiary as part of its plan to make it one of the major sporting franchises in the world. A board meeting will be held on September 26 to ratify the same, said media reports.
STOCKS IN BAN PERIOD:
1 CENTURYTEX
2 GMRINFRA
3 HDIL
4 IBREALEST
5 IRB
6 JPASSOCIAT
7 UNITECH
2 GMRINFRA
3 HDIL
4 IBREALEST
5 IRB
6 JPASSOCIAT
7 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Apollo tyres
The Stock has given break down of a symmetrical triangle on the hourly charts. The pattern target lies at 168.3 with the stop loss of 198. For short term the stock can be sold for target of 188.75-185.25-182 with the stop loss of 196.
The Stock has given break down of a symmetrical triangle on the hourly charts. The pattern target lies at 168.3 with the stop loss of 198. For short term the stock can be sold for target of 188.75-185.25-182 with the stop loss of 196.
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