Nifty opened with a gap up of 22 points at 8304 and made a high of 8308. The market failed to reconquer the 8400 level and fell to the previous swing low of 8320. The support pushed market up to close at 8357.85. The market has breached the support trendline and has also given bearish engulfing on the daily charts. Thus the market is ready to give price correction. The market looks to be forming a small head & shoulders pattern and can move up towards the 8380 levels. As long as market does not breach 8420 it is likely to move towards the 8200 levels.
The support for nifty is at 8325-8290-8242 and the resistance lies at 8383-8420-8456. Nifty November Future
has been trading at 22-23 points premium to the spot. The implied volatility on
the Nifty November Options of ATM strike calls were at 10.49 and for puts were at 11.85. India VIX closed at 13.80.
PCR for Nifty based on open interest was at 1.05 and PCR for the day based on
volumes was at 1.01 for the market.
CASH MARKET:
FII 3933.01 - 3242.4 = 690.61Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1262.10 | 1657.00 | -394.90 |
| INDEX OPTIONS | 16634.80 | 16051.59 | 583.21 |
| STOCK FUTURES | 2376.02 | 2577.87 | -201.85 |
| STOCK OPTIONS | 2489.68 | 2523.44 | -33.76 |
STOCKS IN NEWS:**
Reliance Infrastructure will be in focus after the Delhi Electricity Regulatory Commission (DERC) accepted the demands of distribution companies to increase rates. The Power tariffs in Delhi will rise by 2.5% to 7% for different consumers. DERC has upped power adjustment fee for BSES Rajdhani and BSES Yamuna by 4.5 per cent and 7 per cent respectively.
Sun Pharma's second-quarter performance has met street expectations. Net profit increased 15 per cent to Rs 1572 crore vs Rs 1362 crore, YoY. Net sales rose 13 per cent to Rs 4750 crore vs Rs 4192 crore, YoY. Its EBITDA increased 18 per cent to Rs 2180 crore vs Rs 1842 crore.
Meanwhile, CiplaBSE 0.91 % has delivered a shocker on both profit and revenue front. It reported net profit of Rs 298.7 crore, donw 16.6 per cent, against Rs 358 crore, YoY. Net sales stood at Rs 2629.8 crore, up 5.9 per cent, Rs 2483.5 crore, YoY
DLF put up a strong show as it reported a bottomline growth of over 9 per cent due to lower expenses. Its net profit increased to Rs 109 crore from Rs 100 crore in year ago period. Net sales increased to Rs 2013 crore, up 3 per cent, from Rs 1,956 crore, in the corresponding quarter last fiscal.
Godrej IndustriesBSE 0.00 % will be in action following reports that it may list argicultural unit Godrej Agrovet via IPO. The company holds 60.8 per cent in Godrej Agrovet, which is valued at Rs 2000 crore.
Dynamatic TechnologiesBSE 10.00 % likely to extend gains after it signed an agreement with BELL Helicopter to supply supply major airframe assemblies for the BELL 407 GX.
The estimated business volume of the Agreement is approximately $90 million over a seven year period with options to extend through the life of the product.
Steel major, SAIL saw its net profit slide by almost 45 per cent to Rs 649.5 crore in the second quarter ended September 30, 2014, against a net of Rs 1180.39 crore in the same period last year.
However, net profit during Q2 last year was inflated by an exceptional item of Rs 1,056 crore in the form of an arbitration award received by SAIL from Brazilian miner, Vale as compensation for non-performance of a contract.
Omkar Speciality Chemicals board has approved raising Rs 125 cr via QIP
STOCKS IN BAN PERIOD:
1 IBREALEST
2 UNITECH
2 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Hexaware Technologies
The Stock has hit new 52 week high along with breaking consolidation. It can be bought with the stop loss of 215.55 for the targets of 227-231-235.
The Stock has hit new 52 week high along with breaking consolidation. It can be bought with the stop loss of 215.55 for the targets of 227-231-235.
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