Nifty opened flat at 8530 and made a high of 8535.35. The market failed to keep the 8500 level and went down to the support of 8430. The market tested the consolidation support to provide price correction. On the daily charts it has formed a bearish engulfing pattern. A follow through will indicate short term correction. The market is likely to trade with positive boas for the day. A dip towards 8420-8450 can be bought into for higher targets.
The support for nifty is at 8439-8396-8351 and the resistance lies at 8480-8530-8577. Nifty November Future
has been trading at 3-4 points premium to the spot. The implied volatility on
the Nifty November Options of ATM strike calls were at 10.98 and for puts were at 12.53. India VIX closed at 13.525.
PCR for Nifty based on open interest was at 1.2 and PCR for the day based on
volumes was at 1.16 for the market.
CASH MARKET:
FII 13086.79 - 11917.85 = 1168.94Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 7696.58 | 8335.24 | -638.66 |
| INDEX OPTIONS | 26919.58 | 25912.59 | 1007.00 |
| STOCK FUTURES | 14467.43 | 14774.37 | -306.93 |
| STOCK OPTIONS | 3717.20 | 3843.30 | -126.10 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| DCM Limited | Interim Dividend - Rs 1.50/- Per Share | 26-Nov-14 | 27-Nov-14 |
| Greenply Industries Limited | Scheme Of Demerger | 26-Nov-14 | 27-Nov-14 |
STOCKS IN NEWS:**
Nirma: Karsanbhai Patel's Nirma is making waves once again, the home-grown detergent manufacturer is eyeing a big acquisition in the US Sources suggest that Nirma is in talks with NYSE-listed FMC Corp for buying their soda ash assets worth $1.5 bn. FMC Corp has appointed Bank of America Merrill Lynch and Goldman Sachs for the sale process, a direct source in the US said.
Maruti Suzuki Ltd: Country's largest car maker Maruti Suzuki India (MSI) today said one of its best-selling models Wagon R has crossed 15 lakh unit sales mark in domestic market.
Ricoh India Ltd: The company has announced that they have been chosen by Department of Posts, along with Telecommunications Consultants India (TCIL), as the System Integrator for "Rural Information & Communication Technology (ICT) - Hardware (RH)" Solution, which will enable them to modernize approximately 129,000 Post Offices through automation.
Reliance Industries Ltd: The oil & gas major has sought interest on $1.41 a unit that buyers of its KG-D6 gas are paying into a gas pool account operated by GAIL India, saying the state-run firm ought to invest the amount due to RIL in good interest-bearing instruments.
Financial Technologies Ltd & MCX: Financial Technologies has entered into an agreement to sell its entire stake and warrants in MCX Stock Exchange for Rs 88 crore. The company said it has inked an agreement with Rakesh Jhunjhunwala to sell 2,70,00,000 equity shares constituting 4.99 pet cent of the equity capital of the exchange.
Siemens Ltd: Power automation firm Siemens on Tuesday reported a net profit of Rs 436.78 crore for the quarter ended September 2014. The company had posted a net profit of Rs 149.19 crore for the corresponding quarter a year ago.
Tata Coffee Ltd: Asia's largest coffee plantation company Tata Coffee today said its board has approved a proposal to split company's equity shares from the existing face value of Rs 10 per share to Re 1 per share.
Coal India Ltd: The government may split the proposed 10% stake sale in Coal India into two equal tranches, said a senior finance ministry official, after a meeting was held on Tuesday with finance minister Arun Jaitley on the disinvestment road map.
South Indian Bank: Private sector South Indian Bank has scrapped its proposed Rs 400 crore share sale as a steady dip in valuation has upset its strategy to get maximum premium from investors. The decision was taken at a board meeting Tuesday.
STOCKS IN BAN PERIOD:
1 GMRINFRA
2 HDIL
3 IBREALEST
2 HDIL
3 IBREALEST
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Adani Enterprises Ltd
The Stock has given a Head & shoulders pattern breakdown on the daily charts with good volumes. the pattern target lies at 437 and 488 as stop loss. The RSI has also breached the 40% support line. The stock can be sold at cmp and on rise till 470 with the stop loss of 475 and for the targets of 452-447-441.25
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