Nifty opened with a gap up of 10 points at 7978.45 and made a high of 7991.75. The market remained stuck between a tight band of 7950-7980. The market is facing strong resistance at the 8000 level, which has both psychological and technical importance. This coincides with a series of lows & is 50% of Fibonacci Retracement of 8160-7842 fall. With the low of 7842 the market has achieved target of the rising channel broken on 11th September. The market is likely to be stuck between the 7900-8000 band unless RBI springs some surprise tomorrow. Although the RBI governor has denied any further rate cut, market is still expecting some incentive.
The support for nifty is at 7925-7870-7822 and the resistance lies at 7990-8032-8070. Nifty October Future
has been trading at 35 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 10.57 and for puts were at 13.74. India VIX closed at 13.385.
PCR for Nifty based on open interest was at 1.0 and PCR for the day based on
volumes was at 0.93 for the market.
CASH MARKET:
FII 2643.78 - 2493.68 = 150.1Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1452.05 | 1352.68 | 99.37 |
| INDEX OPTIONS | 10694.64 | 10172.26 | 522.38 |
| STOCK FUTURES | 1698.46 | 1843.30 | -144.83 |
| STOCK OPTIONS | 1585.50 | 1559.64 | 25.86 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Sudarshan Chemical Industries Limited | Bonus 1 : 1 / Face Value Split From Rs 10/- To Rs 2/- Per Share | 30-Sep-14 | 1-Oct-14 |
STOCKS IN NEWS:**
Rate sensitive stocks will be in focus ahead of RBI policy review on Wednesday. Most analysts do not expect Reserve Bank of India governor Raghuram Rajan to reduce interest rates at the September 30 monetary policy announcement despite all the recent good news.
PVR Ltd: Multiplex operator PVR Ltd today said that it's board has approve plans to raise Rs 500 crore through qualified institutional placement (QIP).
Man Industries Ltd: Large diameter pipe maker Man Industries said it has won Rs 550 crore new orders from domestic and international customers for supply of pipes for Oil and Gas sector projects.
ABB Ltd: ABB India Ltd, a subsidiary of Swiss engineering group ABB, said it has won a Rs 172-crore order from Power Grid Company of Bangladesh Ltd.
NTPC Ltd: NTPC, country's largest power generation utility, has tied up loans to the tune of $250 million with Mizuho Bank Limited for funding its expansion plans.
M&M Ltd: Mahindra & Mahindra (M&M), which is yet to make a mark in the two-wheeler space, today launched a new 110-cc scooter 'Gusto' as the homegrown auto major seeks to challenge the supremacy of Japan's Honda in the domestic market.
Union Bank of India: Standard Chartered, which has not yet made a mark as arranger for IPOs or FPOs in India, is offering to manage Union Bank of India's Rs 1,386-crore qualified institutional placement for a token Re 1.
IDFC Ltd: IDFC Alternatives Ltd, the private equity (PE) arm of IDFC Ltd, has sold two of its real estate investments to private equity firm Blackstone Group LP, the seller said on Monday.
Axis Bank Ltd: Axis Bank has told the telecom department that delay in approval for the slump sale of Loop Mobile's subscribers and active infrastructure in Mumbai to Bharti Airtel could result in the lender's Rs 215-crore outstanding to Loop turning non-performing.
PC Jeweller Ltd: E-commerce major Flipkart has joined hands with jewellery retailer PC Jeweller to create a platform for online jewellery shopping.
Strides Arcolab & Shasun Pharmaceuticals: Bangalore-based drug maker Strides Arcolab has decided to acquire Shasun Pharmaceuticals in an all-stock deal that will create a combined entity with a turnover of Rs 2,500 crore, signalling continuation of consolidation and increasing trend of mergers among domestic players in the domestic sector that was earlier dominated by buyouts involving foreign companies.
HDIL: The promoters of Housing Development and Infrastructure Ltd ( HDIL) have revoked all shares earlier pledged with IL&FS Trust Co. Ltd.
Srei Infrastructure Finance Ltd: The company launched a Rs 250-crore domestic bond issue as part of its Rs 1,500-crore issuance later. The bonds with tenure of two years will offer an annual coupon of 10.75 per cent to institutional and non- institutional investors, while retail investors will get 11.25 per cent, the infra financier said here.
MCX: With FTIL fully exiting MCX, commodity markets regulator FMC today granted permission to the bourse to launch new futures contracts for next year.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
TVS Motors:
The Stock has been consolidating for past three weeks. It has finally broken the consolidation in the form of a descending triangle. The bullish breakout has a target of 252 with the stop of 218. For the short term the stock can be bought with the stop loss of 220 on closing basis for the target of 235-239-242.15.
The Stock has been consolidating for past three weeks. It has finally broken the consolidation in the form of a descending triangle. The bullish breakout has a target of 252 with the stop of 218. For the short term the stock can be bought with the stop loss of 220 on closing basis for the target of 235-239-242.15.
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