Nifty opened with a gap up of 50 points at 8064.35 and made a high of 8064.4. The market had same open high which is a bearish indication. The market tested the neckline of the double top and tumbled from there. Thus 8082-8065 is a strong resistance zone for the market, where as gap at 7936-7974 is strong resistance. The market is likely to move in this range with positive bias. Any dip towards the support of 7940 should be bought into for the 8130 target.
The support for nifty is at 7974-7933-7893 and the resistance lies at 8012-8082-8120. Nifty October Future
has been trading at 2-3 points premium to the spot. The implied volatility on
the Nifty October Options of ATM strike calls were at 11.88 and for puts were at 12.59. India VIX closed at 13.515.
PCR for Nifty based on open interest was at 1.01 and PCR for the day based on
volumes was at 0.97 for the market.
CASH MARKET:
FII 3914.1 - 3864.96 = 49.14 Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3242.87 | 2562.86 | 680.01 |
| INDEX OPTIONS | 13987.24 | 13241.22 | 746.02 |
| STOCK FUTURES | 11768.58 | 11979.04 | -210.46 |
| STOCK OPTIONS | 2380.13 | 2524.50 | -144.37 |
STOCKS IN NEWS:**
GAIL India Ltd: GAIL India Ltd, the nation's largest natural gas distributor, is looking for a strategic partner for its Rs 3,108 crore floating LNG import terminal at Paradip in Odisha.
Alstom India Ltd: Global rail infrastructure and power generation firm Alstom today said it has won a euro 85 million (Rs 671.5-crore) contract from Delhi Metro Rail Corporation (DMRC) for supply of 25 metro sets to Kochi Metro Rail Ltd (KMRL).
Wipro: Wipro is investing big money in setting up a separate business practice for open source and plans to have at least a 10,000 strong team, driven largely by changes in technological space and some of its largest clients, including Citigroup, running largely on non-proprietary software.
JSPL: Jindal Steel and Power Ltd said on Monday the CBI were investigating the granting of a coal mining licence block to the company.
Bharti Infratel Ltd: Telecom tower provider Bharti Infratel reported a 68% jump in consolidated net profit for the fiscal second quarter, as rising investments by telco resulted in higher tenancies and as finance costs fell sharply, though higher energy costs weighed on sequential growth.
Texmaco Rail and Engineering Co Ltd: The company reported a net profit of Rs 3.32 crore, down by 44 per cent for Q2 period ended September, compared to Rs 5.93 crore in the corresponding period last year.
Tata Power Company Ltd: It plans to complete work on a $1.8 billion thermal power station in Vietnam three years early, government officials said, as the two countries strive to showcase the economic ties between them.
Coal India Ltd: Five trade unions that represent almost 90% of Coal India's (CIL) workforce are likely to go on an indefinite strike from January in protest against the government's "unilateral" decision to allot coal blocks to private companies for commercial exploitation.
ONGC: Public sector explorer ONGC has seen its crude oil output from its Western Offshore region, which contributes 42% of India's domestic production, going up by almost 11% in the current financial year, said media reports.
Tata Motors Ltd: Tata Motors, a first sub-investment grade company, has managed to get funding for ten years at 5.75% in the overseas market. The Indian auto major said last week it had raised $250 million at a price of 5.75%.
STOCKS IN BAN PERIOD:
1 HDIL
2 IBREALEST
3 UNITECH
3 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Ambuja Cement Ltd
The stock has been consolidating in the form of the symmetrical triangle and has broken out of this 3 month sideways move. The pattern target lies at 241.25 with the stop loss of 211. For short term the stock can be bought with the targets of 224-227.6-229.85 with the stop loss of 217 on closing basis.
No comments:
Post a Comment