Nifty opened with a gap up of 44 points at 7886.5 and made a high of 7972.35. The market gave false break down has bounced above all the critical resistances. The market can go up towards the 8100 levels. The market has formed a morning star on the daily charts. This suggest bullish reversal. As long as the gap left at 7870-7886 is not filled the market can move up. The market can remain sideways with negative boas for the day.
The support for nifty is at 7925-7886-7851 and the resistance lies at 8000-8051-8108. Nifty October Future
has been trading at 30-31 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 9.96 and for puts were at 13.51. India VIX closed at 13.155.
PCR for Nifty based on open interest was at 0.93 and PCR for the day based on
volumes was at 0.88 for the market.
CASH MARKET:
FII 3148.31 - 3169.2 = -20.89Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1878.03 | 1311.74 | 566.28 |
| INDEX OPTIONS | 12705.41 | 12510.46 | 194.95 |
| STOCK FUTURES | 1936.45 | 2007.77 | -71.31 |
| STOCK OPTIONS | 2605.04 | 2576.98 | 28.06 |
STOCKS IN NEWS:**
Infosys Ltd: The company is expected to report net profit of Rs 2,864.4 crore, down 0.75 per cent, against Rs 2,886 crore, a quarter ago, said an ET Now Poll.
Coal India Ltd: State-owned Coal India missed the output target for the fifth consecutive month producing 34.88 million tonnes (MT) of coal in September against targeted 36.17 MT even as acute fuel shortages continue to hit power generation.
Reliance Industries Ltd: Reliance Industries has approached the Securities Appellate Tribunal (SAT) against a penalty of Rs 13 crore imposed on it by markets regulator Sebi in a case related to disclosure of a key earnings ratio of the company.
IFCI: State-owned financial institution IFCI on Thursday said it has sold its 1.64 per cent stake in Welspun Syntex Ltd for about Rs. 1.6 crore.
Crompton Greaves Ltd: Leading private equity firms and strategic investors are in the race to pick up a minority stake in the consumer products business of Crompton Greaves that's proposed to be spun off as a listed entity shortly.
Lanco Infratech Ltd: Cash-strapped infrastructure major Lanco Infratech plans to sell its Australian coal and Indian road assets to pare debt as well as make equity investments in domestic power projects, a top executive said.
JSPL: Jindal Steel & Power Ltd (JSPL) will acquire the remaining 51 per cent stake in its joint venture JB Fabinfra, from its existing shareholders for a little over Rs 1 crore.
L&T Ltd: Industrial conglomerate Larsen and Toubro is exploring a listing of its infrastructure assets including toll roads in the local market via a newly created investment trust, its chief financial officer told Reuters.
Tata Power Ltd: In an unusual collaboration, ICICI Venture, one of India's largest domestic private equity fund, is in talks to team up with Tata Power to take over troubled power plants that have been short circuited by regulatory uncertainties, fuel supply disruptions, low demand and high debt.
Oil & Gas stocks will be in focus after Brent oil sank to a new two-year low underneath $90 per barrel on Thursday, hit by plentiful supplies and the weak global demand outlook, traders said.
STOCKS IN BAN PERIOD:
| IBREALEST |
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Bank of Baroda:
The Stock has shown weakness in the yesterday's trading session. The Stock saw selling from higher levels even though other stocks were moving up continuously. The stock can be sold with the stop loss of 886 for the targets of 865-859-840.
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