Nifty opened with a gap up of 117.25 points at 7896.95 and made a high of 7905.95. On the back of strong global markets, Nifty had a huge gap up opening. However the market failed to build up on the morning gains and stayed range bound for the entire session. The daily candlestick is a hanging man pattern, which indicates bearish reversal. For the market to move up, it has to close above today's high, which is also 50DMA. However I feel this is a correction of the down move from 8180 to 7723. The market is most likely to trade sideways with positive bias till Diwali.
The support for nifty is at 7842-7805-7745 and the resistance lies at 7820-7970-8020. Nifty October Future
has been trading at 17-18 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 12.11 and for puts were at 12.66. India VIX closed at 14.19.
PCR for Nifty based on open interest was at 0.97 and PCR for the day based on
volumes was at 0.92 for the market.
CASH MARKET:
FII 5287.33 - 4247.25 = 1040.08 Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3341.55 | 1886.54 | 1455.01 |
| INDEX OPTIONS | 16162.76 | 16354.92 | -192.17 |
| STOCK FUTURES | 3231.93 | 2604.22 | 627.72 |
| STOCK OPTIONS | 2881.39 | 2926.23 | -44.84 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Hanung Toys and Textiles Limited | Annual General Meeting | 21-Oct-14 | - |
| Fedders Lloyd Corporation Limited | Annual General Meeting And Dividend Re.1/- Per Share | 21-Oct-14 | - |
| HCL Technologies Limited | Interim Dividend | 21-Oct-14 | 23-Oct-14 |
STOCKS IN NEWS:**
Idea Cellular: Idea Cellular's consolidated net profit for the fiscal second quarter jumped nearly 69%, beating estimates, on the back of strong subscriber additions and as data growth continued to be strong, but sequential growth was muted in a traditionally weak quarter for the industry.
HDFC Bank Ltd: The private sector bank is expected to report 22.6 per cent YoY growth in net profit to Rs 2430 crore for the quarter ended September 30, as compared to Rs 1982.30 crore reported in the year-ago period.
ONGC: India moved a step closer to selling a stake in state-run oil company ONGC on Monday, keeping up Prime Minister Narendra Modi's momentum on economic reform after bringing prices of diesel and natural gas closer in line with the market.
Hero Motocorp Ltd: Country's largest two wheeler maker Hero MotoCorp plans to invest over Rs 5,000 crore across the globe, including manufacturing plants at Colombia and Bangladesh and new facilities at Gujarat and Andhra Pradesh.
Jindal Saw: The company reported 239 per cent rise in net profit for the July-September quarter, 2014-15, at Rs 74.60 crore on higher sales.
SKS Microfinance: SKS Microfinance Ltd's standalone net profit more than doubled at Rs 57 crore in the second quarter ended September 30, 2014 compared to Rs 16.34 crore in the corresponding quarter of previous financial year.
NTPC: NTPC on Monday commissioned a 110 kWp rooftop solar plant at its engineering office complex. The company said it is focusing on installing rooftop solar PV systems at available roof areas at power stations to meet the energy requirement of its offices, said media reports.
IFCI: Government-owned term lender IFCI Ltd today opened the public issue of non-convertible debentures to raise up to Rs. 2,000 crore and it will be available for subscription till November 21.
BGR Energy Ltd: Power company BGR Energy Systems has secured orders worth Rs 250 crore in the electrical sub-stations segment of its electrical projects division. The company provides EPC (engineering, procurement and construction) services for power projects in India, said media reports.
UltraTech Cements: Kumar Mangalam Birla-led Aditya Birla Group is said to have placed bids for the Brazilian and Philippine cement assets that global giants Holcim and Lafarge are planning to sell ahead of their merger in order to comply with anti-competition rules.
STOCKS IN BAN PERIOD:
1 HDIL
2 IBREALEST
2 IBREALEST
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
The Stock has been consolidating in a range of 2240-2470 for the past 3
months has finally given breakout. The pattern target lies at 2700 with
the stop loss of 2353. Buy the stock at current market price & on
the declines till 2500 with the stop loss of 2465 on closing basis for the targets of 2595-2624-2669.
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