Nifty opened with a gap up of 27 points at 7906 and made a high of 7936.6. The market moved up as expected and closed above the 50DMA as well as 20DMA. The market has also given breakout of the falling wedge as shown below. The pattern target lies at 8090 with the stop loss of 7815. This target coincides with the 78.6% of the Fibonacci Retracement of the recent fall. The market is expected to go up towards the 8030 level once it breaches the 7950 level and buy on dips till 7890 levels for the 7951-8005 targets.
The support for nifty is at 7890-7855-7831 and the resistance lies at 7951-8005-8065. Nifty October Future
has been trading at 18-19 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 10.69 and for puts were at 11.06. India VIX closed at 13.33.
PCR for Nifty based on open interest was at 1.03 and PCR for the day based on
volumes was at 0.99 for the market.
CASH MARKET:
FII 4695.31 - 4662.91 = 32.4Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2122.40 | 1723.87 | 398.52 |
| INDEX OPTIONS | 19433.07 | 18264.88 | 1168.20 |
| STOCK FUTURES | 3135.72 | 3288.64 | -152.92 |
| STOCK OPTIONS | 2954.81 | 3003.96 | -49.15 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| CRISIL Limited | Interim Dividend | 22-Oct-14 | 27-Oct-14 |
| Crompton Greaves Limited | Interim Dividend | 22-Oct-14 | 27-Oct-14 |
| Muthoot Finance Limited | 1st Interim Dividend Rs.4/- Per Share | 22-Oct-14 | 27-Oct-14 |
STOCKS IN NEWS:**
Cairn India: Cairn India reported a 33 per cent drop in its September quarter net profit on back of lower oil prices and production from its prime Rajasthan oilfield.
Tata Coffee Ltd: Tata Coffee today reported a consolidated net profit of Rs 32.36 crore for the second quarter ended September 30, on account of better performance by the company's US subsidiary.
Wipro Ltd: The IT major is expected to report 2.7 per cent QoQ growth in its net profit number to Rs 2160 crore for the quarter ended September 30, as compared to Rs 2103.20 crore reported in the year-ago period.
HDFC: The private sector lender is expected to report 6.8 per cent YoY growth in net profit for the quarter ended September 30 to Rs 1353 crore, as compared to Rs 1266.60 crore reported in the year-ago period.
McLeod Russel India Ltd: The company will buy a 90% stake in a tea estate in Rwanda for $19.5 million (nearly Rs.120 crore), the world's biggest producer of tea said in a filing to the stock exchanges on Tuesday.
Tata Motors Ltd: Tata's Jaguar Land Rover today rolled out its premium luxury Range Rover Evoque at a colourful ceremony here inaugurating its first overseas factory in China with an investment of over USD 1.7 billion to consolidate its position in the world's largest car market.
DLF Ltd: The Securities Appellate Tribunal (SAT) will on Wednesday hear real estate giant DLF's appeal against the Sebi order that banned the company and six top executives from accessing capital market for three years.
JusDial Ltd: Local search provider Justdial has received board approval to raise up to Rs 1,000 crore, a move seen furthering its ambitions in the booming online retail industry.
Jet Airways & SpiceJet: SpiceJet announced the launch of a Diwali Dhamaka Sale on Tuesday, with one-way tickets starting at Rs 899, kicking off a fare war just before the advent of the November-December travel season. Jet Airways announced a similar offer and others are expected to follow soon.
Financial Technologies Ltd: With the government ordering the merger of NSEL with FTIL, the parent firm might have to absorb huge liabilities including over Rs 5,200 crore payment dues to clean up the mess at the scam-hit bourse.
Piramal Enterprises Ltd: The company reported a consolidated net loss of Rs 390.79 crore for the quarter ended September 30, 2014, due to onetime write downs and costs related to scaling back of NCE operations.
STOCKS IN BAN PERIOD:
1 HDIL
2 IBREALEST
2 IBREALEST
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Maruti Suzuki Ltd
The stock has given breakout of the Flag Pole pattern the daily charts as shown above. The pattern target lies at 3656 with the stop loss of 2975. For the short term the stock can be bought for the target of 3100-3177-3220 with the stop loss of 3010 on closing basis.
The stock has given breakout of the Flag Pole pattern the daily charts as shown above. The pattern target lies at 3656 with the stop loss of 2975. For the short term the stock can be bought for the target of 3100-3177-3220 with the stop loss of 3010 on closing basis.
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