Nifty opened with a gap down of 13 points at 8450.3 and made a high of 8500. In the early morning trade the market tested the support of 8440 and bounced back. However it failed to cross the 8500 resistance and closed at 8475.75. The expiry is likely to be above the 8500 level and any dip towards the 8450 level should be bought into with the stop loss of 8420.
The support for nifty is at 8437-8394-8348 and the resistance lies at 8501-8540-8582. Nifty December Future
has been trading at 55-56 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 10.5 and for puts were at 11.46. India VIX closed at 12.985.
PCR for Nifty based on open interest was at 1.09 and PCR for the day based on
volumes was at 1.06 for the market.
CASH MARKET:
FII 3517.53 - 3336.07 = 181.46Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 5319.21 | 5433.15 | -113.95 |
| INDEX OPTIONS | 27740.85 | 26996.44 | 744.41 |
| STOCK FUTURES | 14729.46 | 15322.68 | -593.22 |
| STOCK OPTIONS | 2650.67 | 2756.76 | -106.09 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Hinduja Global Solutions Limited | Second Interim Dividend - Rs 5/- Per Share | 27-Nov-14 | 28-Nov-14 |
| Precision Wires India Limited | Interim Dividend - Rs 2/- Per Share | 27-Nov-14 | 28-Nov-14 |
STOCKS IN NEWS:**
ONGC: State-owned Oil and Natural Gas Corp has finalised sale of gas from its marginal fields at a price of $ 10.10-11.20 a unit, Oil Minister Dharmendra Pradhan said today.
NMDC: Falling global prices and subdued demand may prompt country's largest iron ore miner NMDC to cut the price of steel-making raw material for the second month in a row in December.
MRF Ltd: Tyre maker MRF Ltd today posted 72.14 per cent increase in net profit at Rs 316.91 crore for its fourth quarter ended September 30, on account of robust sales.
BoB: State-owned Bank of Baroda today said it proposes to raise Rs 1,500 crore from Additional Tier-I (AT-1) bonds to fund its business growth.
Crompton Greaves Ltd: Avantha Holdings Ltd, the holding company of billionaire Gautam Thapar, plans to sell about 4.2 crore shares, or a 7% stake, in engineering and consumer goods maker Crompton Greaves in block trades on the stock market to raise as much as Rs 900 crore, a person with direct knowledge of the matter said.
SpiceJet: Kalanithi Maran-promoted airline SpiceJet has informed the civil aviation ministry that it has cleared all service tax and income tax dues for 2013-14 amounting to Rs 400 crore in the past three months - a key reason behind the low-cost carrier returning aircraft to lessors.
Texmaco Rail & Engineering Ltd: The Company has allotted 2,80,37,383 equity shares of Re 1 each at a price of Rs 107 per equity share including premium of Rs 106 per share, aggregating approximately Rs 300 crore to QIBs.
Cox & Kings Ltd: Leading travel company Cox & Kings (CKL) today said it has raised around Rs 1,000 crore through qualified institutional placement of equity shares of face value of Rs 5 each.
Tata Power Ltd: The Central Electricity Regulatory Commission (CERC) has approved the tariff petition of Tata PowerBSE 0.55 % for its 1,050-MW Maithon Power project in Jharkhand, the company said today.
Ranbaxy Laboratories Ltd: In a sustained churn at Ranbaxy Laboratories, Sanjeev Dani, head of global strategy, corporate and business development, and Rajiv Gulati, president of global pharma business, have quit, people familiar with the matter told ET.
STOCKS IN BAN PERIOD:
1 GMRINFRA
2 HDIL
3 RELCAPITAL
4 UNITECH
2 HDIL
3 RELCAPITAL
4 UNITECH
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Hindalco
The Stock has corrected quite a bit after hitting the high of 198.8 and is now ready to bounce back. The Stock has broken out of a rising wedge pattern on the daily charts, which is super bullish. The pattern target lies at 193 with the stop loss of 155. For the short term the stock can be bought with the stop loss of 162.2 for the target of 172.25-175.75-178.65
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