Nifty opened with a gap up of 39 points at 9723.25 and made a high of 7928. The market largely traded in the tight range of 7880-7840. On the hourly charts the market can be seen forming a falling wedge which has bullish implication on breakout. The market is stuck in the range of 7775 and 7950. A breach on either side will provide the necessary direction. The market is likely to be in range with negative bias for the day.
The support for nifty is at 7840-7804-7775 and the resistance lies at 7890-7945-8000 . Nifty October Future
has been trading at 31-32 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 14.07 and for puts were at 13.92. India VIX closed at 14.5925.
PCR for Nifty based on open interest was at 0.88 and PCR for the day based on
volumes was at 0.84 for the market.
CASH MARKET:
FII 2942.08 - 3636.75 = -694.67Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1291.37 | 1594.34 | -302.97 |
| INDEX OPTIONS | 17963.49 | 17493.74 | 469.74 |
| STOCK FUTURES | 2414.60 | 2321.19 | 93.41 |
| STOCK OPTIONS | 3216.56 | 3307.64 | -91.08 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Infosys Limited | Interim Dividend Rs.30/- Per Share (Purpose Revised) | 16-Oct-14 | 17-Oct-14 |
| Strides Arcolab Limited | Special Dividend Rs.105/- Per Share | 16-Oct-14 | 17-Oct-14 |
STOCKS IN NEWS:**
IOC, BPCL, HPCL: State-owned oil marketing companies will be in focus after they slashed petrol prices by Rs 1.20 per litre in Delhi, bringing the fuel to lowest level in 16 months and helping Indian consumers gain from the steep fall in global crude oil.
TCS: The IT major is expected to lead the pack in terms of revenue growth and in bottom line growth. Analysts expect TCS to report a 5.4 per cent QoQ rise in net profit to Rs 5330 crore, aided mainly by higher margins.
Bajaj Auto Ltd: Bajaj Auto reported a 29.41 per cent decline in net profit at Rs 590.9 crore for the three months ended September, hit by a one-time expense of Rs 340.29 crore related to Pantnagar plant in Uttarakhand.
Her MotoCorp Ltd: The two-wheeler is expected to report 47 per cent YoY growth in the net profit number to Rs 705 crore, as compared to Rs 418 crore reported in the year-ago period, said an ET Now Poll.
Future Retail Ltd: Kishore Biyani-promoted Future Retail has received market regulator Sebi's approval to raise up to Rs 1,600 crore through rights issue.
Sun Pharma & Ranbaxy: Ranbaxy Laboratories and Sun Pharmaceutical Industries are likely to be advised to sell parts of their businesses before the Competition Commission of India (CCI) approves their merger, said media reports.
Tata Motors Ltd: Tata Motors today said it has received another order to supply 928 Tata Marcopolo built buses to the State Transport Authorities in South India.
Tata Steel Ltd: Tata Steel has initiated talks with the Klesch Group, a Swiss Investment bank with interests in commodities, to undertake "detailed due diligence and negotiations" for the possible sale of its long steel business and associated distribution activities in Europe
IOC: Indian Oil Corporation will invest $4 billion in the British Columbia province, Canada, to source liquefied natural gas from the region. IOC, in May, signed a deal to buy 10 per cent stake in shale-gas assets and a linked liquefied natural gas (LNG) project in British Columbia.
MindTree Ltd: Technology services company Mindtree reported a 4.9 per cent increase in net profit for the quarter ended September 30 and said revenue growth is expected to exceed industry lobby Nasscom's estimate of 13-15 per cent in this financial year.
NIIT Technologies Ltd: IT firm NIIT Technologies today posted 35.7 per cent decline in net profit at Rs 40.1 crore for the quarter ended September 30, 2014, impacted by increased depreciation costs.
Ashok Leyland Ltd: After the successful run in the UK, Hinduja Group flagship company Ashok Leyland will introduce an electric version of Optare buses in India early next year and plans to make them here, a top official said today.
ITC Ltd: Come April next year, 85 per cent of space on cigaratte packs and other tobacco products in India will have to be mandatorily covered with graphic and text warnings of health hazard, making the country top ranker in terms of display of caution on packages.
STOCKS IN BAN PERIOD:
1 IBREALEST
2 HDIL
2 HDIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Karur vyasya Bank:
The Stock in moving in a tight band of 512-540 levels on the daily charts. It can be seen that the stock is forming a symmetrical triangle, a form of consolidation. On the hourly charts the stock has formed a evening star pattern near upper resistance. Thus it is likely to fall towards the 515 levels. Short the stock with the stop loss of 534 on closing basis for the targets of 526-522.55-518.25.
The Stock in moving in a tight band of 512-540 levels on the daily charts. It can be seen that the stock is forming a symmetrical triangle, a form of consolidation. On the hourly charts the stock has formed a evening star pattern near upper resistance. Thus it is likely to fall towards the 515 levels. Short the stock with the stop loss of 534 on closing basis for the targets of 526-522.55-518.25.
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