Nifty opened with a gap down of 27 points at 7837.3 and made a high of 7893.90. The market stayed in the range of 7870-7845 for most part of the day. The range was finally broken and the 7800 was breached easily. Once the support was taken out the market went down towards the support of 7730. The blood bath was seen across market with mid cap index & small cap index loosing nearly 3%. The market has broken the falling wedge on hourly charts, which has target of 7588 with the stop loss of 7860. Now the down move has strong support at the 7656-7635 level, where Nifty has left a rising gap on the daily charts. The market has exhausted some of the strong selling yesterday. The market is expected to trade sideways with positive bias.
The support for nifty is at 7725-7690-7655 and the resistance lies at 7820-7860-7897. Nifty October Future
has been trading at 29-30 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 16.38 and for puts were at 17.34. India VIX closed at 16.4325.
PCR for Nifty based on open interest was at 0.95 and PCR for the day based on
volumes was at 0.91 for the market.
CASH MARKET:
FII 4206.91 - 5335.28 = -1128.37Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1772.96 | 2497.63 | -724.68 |
| INDEX OPTIONS | 17676.36 | 16946.97 | 729.39 |
| STOCK FUTURES | 2817.71 | 2455.17 | 362.53 |
| STOCK OPTIONS | 3456.74 | 3452.85 | 3.90 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Sasken Communication Technologies Limited | Special Interim Dividend - Rs 20/- Per Share | 17-Oct-14 | 20-Oct-14 |
STOCKS IN NEWS:**
TCS: The country's largest services exporter, reported net profit of Rs 5,244 crore, up 13.2 per cent YoY and down 5.8 per cent QoQ. An ET Now poll had estimated that the Q2 PAT would come in at Rs 5,331 crore.
HCL Technologies Ltd: Analysts are expecting HCL Technologies to post nearly 4% growth quarter-on-quarter in dollar terms, helped by its infrastructure management and BPO businesses. The company has said it expects to continue its growth momentum.
Hero MotoCorp Ltd: India's largest two wheeler company, posted a 'better than expected' 59 per cent increase in net profit for the quarter ended September, driven by a strong sales performance and gains after halting royalty payments to former joint-venture partner, Honda Motor Company of Japan.
Tata Motors Ltd: The automaker reported an 8.25 per cent decline in global sales, including Jaguar Land Rover, at 80,104 units in September. The company had sold 87,316 units in the same month last year.
Axis Bank Ltd: Private sector Axis Bank today announced reducing its lending rate by 0.1 per cent to 10.15 per cent from 10.25 per cent.
The private sector bank will also declare its results for the quarter ended September 30 later today. The bank is expected to report 18.5 per cent YoY growth in its net profit number to Rs 1615 crore as compared to Rs 1362.30 crore reported in the year-ago period.
Prestige Estates Projects Ltd: Realty firm Prestige Estates Projects Ltd reported 29 per cent increase in its sales bookings at Rs 1,486 crore for the quarter ended September.
Crompton Greaves Ltd: Crompton Greaves announced the demerger of its consumer products business unit into a separate company and opened the doors for foreign investors by raising the investment limit to 100 per cent of the paid-up equity share capital.
The electrical equipment maker also reported an increase of 19.14 per cent in consolidated net profit at Rs 69.59 crore for the second quarter ended September 30, 2014.
Rallis India Ltd: Tata group firm Rallis India reported marginal decline in its consolidated net profit to Rs 73.43 crore for the quarter ended September 30.
CMC: Tata group company CMC, which announced a plan to merge with its parent TCS, today posted a 13 per cent increase in its September quarter net profit at Rs 76 crore.
Tata Steel Ltd: Aimed at replacing costlier debt, Tata Steel Group today completed restructuring of its entire international loan portfolio arising out of Corus buy in 2007 with the execution of refinancing deals worth USD 5.4 billion.
STOCKS IN BAN PERIOD:
1 IBREALEST
2 HDIL
2 HDIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Crompton greaves
The Stock has formed a bullish harami on the hourly charts after a steep fall from the 211 levels. This is a sin of bullish reversal. The stock can be bought with the stop loss of 187 on closing basis for the targets of 195.55-198.45-201.25
The Stock has formed a bullish harami on the hourly charts after a steep fall from the 211 levels. This is a sin of bullish reversal. The stock can be bought with the stop loss of 187 on closing basis for the targets of 195.55-198.45-201.25
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