Nifty opened with a gap up of 16 points at 8378 and made a high of 8415. The market went up as per expectations and has almost achieved the 8420 target. However it failed to hold the 8400 level and fell to close at 8383.3. In this process the market has formed a gravestone doji on the daily charts. This is sixth doji in row and thus a good directional move is expected soon, which will decide the future course of the market. This move is likely to be on down side after the steep up move from 7725 level. The market is only corrected w.r.t. time and price correction is still pending. The market is likely to be positive biased for the day.
The support for nifty is at 8370-8335-8305 and the resistance lies at 8402-8445-8493. Nifty November Future
has been trading at 35-36 points premium to the spot. The implied volatility on
the Nifty November Options of ATM strike calls were at 11.14 and for puts were at 11.12. India VIX closed at 14.435.
PCR for Nifty based on open interest was at 1.05 and PCR for the day based on
volumes was at 1.0 for the market.
CASH MARKET:
FII 4112.93 - 3653.46 = 459.47Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1457.18 | 1277.50 | 179.68 |
| INDEX OPTIONS | 14231.67 | 13046.87 | 1184.81 |
| STOCK FUTURES | 2479.83 | 1923.34 | 556.49 |
| STOCK OPTIONS | 2038.55 | 2035.47 | 3.08 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Marico Limited | First Interim Dividend | 13-Nov-14 | 14-Nov-14 |
| MRF Limited | Second Inerim Dividend - Rs 3/- Per Share | 13-Nov-14 | 14-Nov-14 |
| Aarti Industries Limited | Interim Dividend | 13-Nov-14 | 14-Nov-14 |
| SQS India BFSI Limited | Interim Dividend - Rs 4/- Per Share | 13-Nov-14 | 14-Nov-14 |
| PI Industries Limited | Interim Dividend - Rs 1.20/- Per Share | 13-Nov-14 | 14-Nov-14 |
| Shriram City Union Finance Limited | Interim Dividend - Rs 4.50/- Per Share | 13-Nov-14 | 14-Nov-14 |
STOCKS IN NEWS:**
Rate sensitive sectors such as realty, auto and banks are likely to gain momentum on the back of decline in CPI inflation.
Tata Steel's second quarter performance missed the mark as profit came below estimates. It reported net profit of Rs 1,254 crore in September quarter against a net profit of Rs 917 crore in year-ago period. The company also reported one-time gain of almost Rs 1,150 crore.
The company is hopeful that the government's reform drive and lower interest rates will increase demand.
Tata Steel reported net sales of Rs 35,503 crore for the second quarter of the current fiscal, down 2 per cent YoY as compared to Rs 36,369 crore reported in the year-ago period.
IOC's board has cleared Rs 5,150 crore Ennore-LNG Terminal project to be set up jointly with the Tamil Nadu government.
The land for the project has been acquired and the plant will have 5 million tonne capacity. The terminal is expected to be commissioned by 2017.
Jaiprakash Associates may face some profit booking as it reported a net loss of Rs.106.5 crore for the September quarter. Finance costs rose 21 per cent to Rs.793.29 crore compared with a year ago.
Shares of ONGC are expected to be in action after its subsidiary ONGC Videsh reported a near 10 per cent surge in net profit between April to September on the back of surge in oil and gas output. Revenues rise nearly 13 per cent to over 11,300 crores.
Eicher Motors' profit surged nearly 54 per cent in the third quarter as it sold over 8,300 trucks and buses in the domestic market during the quarter. The company sold nearly 82,000 units of Enfield motorcycles in the third quarter.
Dr Reddy's Laboratories may slip in trade after Sucampo filed patent infringement lawsuit against the company for AMITIZA generic products.
Vivimed Labs is seeking shareholders nod to raise nearly Rs 400 crore via QIP.
STOCKS IN BAN PERIOD:
1 IBREALEST
2 UNITECH
2 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
YES Bank
The stock has made a new life time high while breaking out from the past few days of consolidation. The stock is likely to move higher towards the 725 levels. Buy the stock with 690 as stop loss and targets of 711-723.
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