Nifty opened gap up of 25 points at 8348 and made a high of 8350. The market took a breather after the spectacular Diwali rally and consolidated. The sideways movement in the 50 point band was mostly profit booking. The market has formed a shooting star on the daily charts. This pattern has bearish implications, once a big black body candle confirms the reversal. The market is likely to stay sideways with negative bias as long as 8350 is not taken out on the higher side.
The support for nifty is at 8299-8255-8199 and the resistance lies at 8351-8405-8462. Nifty November Future
has been trading at 36-37 points premium to the spot. The implied volatility on
the Nifty November Options of ATM strike calls were at 10.78 and for puts were at 12.93. India VIX closed at 13.7375.
PCR for Nifty based on open interest was at 0.95 and PCR for the day based on
volumes was at 0.9 for the market.
CASH MARKET:
FII 4459.07 - 3045.73 = 1413.34Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1485.46 | 1321.90 | 163.57 |
| INDEX OPTIONS | 10328.51 | 9533.80 | 794.71 |
| STOCK FUTURES | 1749.71 | 2595.92 | -846.21 |
| STOCK OPTIONS | 1521.93 | 1499.63 | 22.30 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| R Systems International Limited | 3rd Interim Dividend Re.0.90 Per Share (Purpose Revised) | 5-Nov-14 | 7-Nov-14 |
| Astral Poly Technik Limited | Interim Dividend Re.0.15 Per Share | 5-Nov-14 | 8-Nov-14 |
| Navin Fluorine International Limited | Interim Dividend - Rs 7.50/- Per Share | 5-Nov-14 | 7-Nov-14 |
STOCKS IN NEWS:**
Bharti Airtel Ltd: Global rating agency Moody's today said the second quarter earnings of Bharti Airtel are credit positive while suggesting the company reduce its consolidated adjusted debt/Ebitda to below 2 times.
Berger Paints Ltd: Berger Paints India Ltd Board on Tuesday approved proposal for sub-division of equity shares of Rs. 2 each into Re. 1 each. Berger said it would seek shareholders' approval for altering memorandum and articles of association of the company to carry out the stock split proposal through postal ballot or e- voting.
Aksh Optifibre: The company on Tuesday said that it had procured Rs 102-crore order for India's Rs 13,000-crore Defence Network For Spectrum (NFS) project, for which state-owned BSNL is the implementing agency.
Ashok Leyland Ltd: Hinduja Group flagship Ashok Leyland has reported a 23.1 per cent increase in its sales in October at 8,375 units. The city-based heavy commercial vehicle manufacturer had sold 6,803 units during the same month of previous year.
SBI, PNB: The finance ministry has identified six large banks that can be empowered to do project appraisals for all the lenders in a consortium set up for sanctioning loans above Rs 500 crore.
GAIL: State gas utility GAIL India Ltd today said it has signed an initial agreement with State Oil Company of Republic of Azerbaijan (SOCAR) for jointly pursuing LNG opportunities.
Coal India Ltd: State-owned CIL produced 40.20 million tonnes (MT) of coal in October, beating its target of 39.74 MT for the month. However, the company missed its output target of 259.85 MT for the first seven months of the current fiscal, producing 250.96 MT of coal.
JM Financial Ltd: Diversified financial services player JM Financial announced an 83 per cent jump in its consolidated net income today, at Rs 92.2 crore boosted by all-round business growth, which pushed up its fee income.
Trent Ltd: Tata group firm Trent reported 26.73 per cent decline in standalone net profit at Rs 11.43 crore for the second quarter ended September 30 due to higher expenses.
Torrent Power Ltd: The power company reported a consolidated net profit of Rs 23.07 crore for the quarter ended September 30, 2014. It had posted a net loss of Rs 29.29 crore in the quarter ended September 30, 2013.
JSPL: Jindal Steel and Power Ltd today said its consolidated profit after tax for the July-September quarter declined by 12 per cent to Rs 400 crore on higher depreciation and interest outgo.
Berger Paints Ltd: Berger Paints India Ltd Board on Tuesday approved proposal for sub-division of equity shares of Rs. 2 each into Re. 1 each. Berger said it would seek shareholders' approval for altering memorandum and articles of association of the company to carry out the stock split proposal through postal ballot or e- voting.
Aksh Optifibre: The company on Tuesday said that it had procured Rs 102-crore order for India's Rs 13,000-crore Defence Network For Spectrum (NFS) project, for which state-owned BSNL is the implementing agency.
Ashok Leyland Ltd: Hinduja Group flagship Ashok Leyland has reported a 23.1 per cent increase in its sales in October at 8,375 units. The city-based heavy commercial vehicle manufacturer had sold 6,803 units during the same month of previous year.
SBI, PNB: The finance ministry has identified six large banks that can be empowered to do project appraisals for all the lenders in a consortium set up for sanctioning loans above Rs 500 crore.
GAIL: State gas utility GAIL India Ltd today said it has signed an initial agreement with State Oil Company of Republic of Azerbaijan (SOCAR) for jointly pursuing LNG opportunities.
Coal India Ltd: State-owned CIL produced 40.20 million tonnes (MT) of coal in October, beating its target of 39.74 MT for the month. However, the company missed its output target of 259.85 MT for the first seven months of the current fiscal, producing 250.96 MT of coal.
JM Financial Ltd: Diversified financial services player JM Financial announced an 83 per cent jump in its consolidated net income today, at Rs 92.2 crore boosted by all-round business growth, which pushed up its fee income.
Trent Ltd: Tata group firm Trent reported 26.73 per cent decline in standalone net profit at Rs 11.43 crore for the second quarter ended September 30 due to higher expenses.
Torrent Power Ltd: The power company reported a consolidated net profit of Rs 23.07 crore for the quarter ended September 30, 2014. It had posted a net loss of Rs 29.29 crore in the quarter ended September 30, 2013.
JSPL: Jindal Steel and Power Ltd today said its consolidated profit after tax for the July-September quarter declined by 12 per cent to Rs 400 crore on higher depreciation and interest outgo.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
IndiaBulls Housing Finance
The Stocks has been moving in the form of a rising wedge. It has given bullish breakout of this pattern which is ultra bullish on good volumes. The pattern target lies at 481 with stop loss of 430. For the short term the stock can be bought with the stop loss of 436 on closing basis with the target of 460-467-472.
The Stocks has been moving in the form of a rising wedge. It has given bullish breakout of this pattern which is ultra bullish on good volumes. The pattern target lies at 481 with stop loss of 430. For the short term the stock can be bought with the stop loss of 436 on closing basis with the target of 460-467-472.
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