Nifty opened with a gap up of 10 points at 8354 and made a high of 8378.7. As expected the market consolidated in the range of 8380-8320. Once again the market took off after making the 8321.85 near the 8300 support to close at 8362.65. with this close the market has finally managed to conquer the 8360 resistance. It should now move up towards the 8420 levels. The market is trading in the form of a rising channel on the intraday charts with immediate resistance near the 8390 levels. The market is expected to trade sideways with positive bias for the day.
The support for nifty is at 8347-8310-8270 and the resistance lies at 8390-8445-8493. Nifty November Future
has been trading at 33-34 points premium to the spot. The implied volatility on
the Nifty November Options of ATM strike calls were at 10.82 and for puts were at 11.96. India VIX closed at 14.8.
PCR for Nifty based on open interest was at 1.09 and PCR for the day based on
volumes was at 1.04 for the market.
CASH MARKET:
FII 4443.96 - 3985.92 = 458.04Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 893.19 | 1240.82 | -347.62 |
| INDEX OPTIONS | 11844.42 | 12613.65 | -769.23 |
| STOCK FUTURES | 2251.66 | 2370.18 | -118.52 |
| STOCK OPTIONS | 1892.00 | 1870.03 | 21.97 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Hexaware Technologies Limited | Interim Divided | 12-Nov-14 | 13-Nov-14 |
STOCKS IN NEWS:**
DLF Ltd: The Securities Appellate Tribunal (SAT) today bundled the petitions from DLF promoter-chairman K P Singh and four others with the main petition that the realty major has filed with the quasi judicial body on October 22 and put off the hearing on the matter to December 10.
TCS: Tata Consultancy Services, the information technology unit of the Tata Group, is more than a quarter of the way to its goal of garnering $1 billion (more than Rs 6,150 crore) in revenue from the group's companies, two people with knowledge of the matter said.
Wipro Ltd: Wipro's consumer care and lighting business could end this fiscal year with $1 billion (Rs 6,000 crore) in revenue, as the privately-held company expects the Narendra Modi-led government's promised reforms to start reflecting on the ground, leading to a better second-half of the year for the company.
M&M Ltd: Homegrown auto major Mahindra & Mahindra today said it has increased prices of its passenger and commercial vehicles from this month by an average of 1 per cent, in the range of Rs 2,300 to Rs 11,500 (ex-showroom), to partially offset the impact of rising input costs.
Reliance Power Ltd: Anil Ambani-led Reliance Power has started generation in its 100 MW Concentrated Solar Power (CSP) project in Rajasthan.
Greenply Industries Ltd: Greenply Industries has informed the Exchange that consequent to receipt of the approval of Hon''ble Gauhati High Court to the composite Scheme of Arrangement under Sections 100 to 104 and 391 to 394 of the Companies Act, 1956 between Greenply Industries Limited ("Greenply") and Greenlam Industries Limited ("Greenlam"), and their respective shareholders and creditors, for demerger of the Decorative Business of Greenply with all its assets and liabilities, into Greenlam with effect from April 01, 2013.
Power Grid Ltd: State-run Power Grid Corporation (PGCIL) today posted a marginal decline in net profit for the quarter ended September 30 at Rs 1,201.27 crore due to higher finance cost.
Jain Irrigation Ltd: Micro-irrigation company Jain Irrigation Systems today reported a consolidated loss of Rs 23.6 crore for the quarter ended September 2014 against a loss of Rs 80.7 crore in the same period last year.
Bayer CropScience Ltd: Agro-chemical firm Bayer CropScience today posted a 52.02 per cent increase in its net profit at Rs 176.10 crore for the second quarter ended of this fiscal on account of increase in income from operations.
Financial Technologies Ltd: Financial Technologies (India), or FTIL, parent of the scam-hit National Spot Exchange (NSEL), has challenged a government order to 'forcibly' merge the spot exchange with itself and to take over the management of the parent company.
STOCKS IN BAN PERIOD:
1 IBREALEST
2 UNITECH
2 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
The Karnataka Bank:
The stock has been falling in a wedge pattern for more than past 5 months. It has now given breakout of the pattern with the target of 161.25 with the stop loss of 127.55. For the short term it can be bought for the targets of 141.25-145.52-148.25-150.25 with the stop loss of 133.
No comments:
Post a Comment