Nifty opened flat at 8439 and made a high of 8444.5. The market initially respected the 8420 support but once it was taken out it was free fall. The market made low of 8330 and close near lows at 8340. The market is likely to give a small bounce from the support zone 8300-8290 after the fall. It is likely to stay sideways with positive bias. A breach of 8290 will take markets further down towards the 8200 levels.
The support for nifty is at 8290-8266-8200 and the resistance lies at 8390-8440-8504. Nifty December Future
has been trading at 52-53 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 13.51 and for puts were at 10.31. India VIX closed at 12.495.
PCR for Nifty based on open interest was at 0.93 and PCR for the day based on
volumes was at 0.91 for the market.
CASH MARKET:
FII 3661.31 - 3882.83 = -221.52Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2016.97 | 1806.47 | 210.49 |
| INDEX OPTIONS | 21347.61 | 20961.51 | 386.10 |
| STOCK FUTURES | 2005.96 | 2807.74 | -801.78 |
| STOCK OPTIONS | 2322.89 | 2373.20 | -50.31 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Spice Mobility Limited | Annual General Meeting | 10-Dec-14 |
| Uttam Sugar Mills Limited | Annual General Meeting | 10-Dec-14 |
STOCKS IN NEWS:**
RIL Ltd: Reliance Industries Ltd on Tuesday said it will transfer its textile business into a new joint venture with China's Shandong Ruyi Science and Technology Group Co Ltd (Ruyi).
Reliance Capital Ltd: At a time when domestic and international investors are queuing up for a slice of the booming Indian e-commerce segment, Anil Ambani-led Reliance Capital (RCap) is encashing its investment in Yatra.com - the leading online travel company - for Rs 500 crore.
Lakshmi Vilas Bank Ltd: Private sector Lakshmi Vilas Bank has revised interest rates on term deposits with a maturity period of over 180 days, with effect from later today. The revised interest rates have been in the range of 5 to 25 basis points, a bank statement said.
BHEL: Bharat Heavy Electricals Ltd ( BHEL) would set up an integrated solar photo-voltaic manufacturing facility of around 500 MW per annum in Maharashtra, Parliament was informed today.
SpiceJet Ltd: Executives of SpiceJet and its parent, the Sun Group, met India's aviation regulator on Thursday to assure him of the airline's ability to survive.
JSW Steel Ltd: The Sajjan Jindal-led steel maker said its crude steel production grew by 3 per cent in November to 11.07 lakh tonnes. It produced 10.72 lakh tonnes of steel in the same month last year, it said in a statement.
Insurance related stocks: The Parliamentary Select Committee report on the Insurance Laws (Amendment) Bill is likely to be tabled in the Rajya Sabha on Wednesday.
OMCs: Brent crude oil fell to a 5-year low near $65 a barrel in volatile trade on Tuesday, sliding for a sixth consecutive session on signs of a growing supply glut.
Bharti Airtel Ltd: The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has set aside penalty notices of Rs 650 crore slapped on Airtel and of Rs 100 crore on Vodafone for subscriber local dialing service.
Axis Bank Ltd: The private sector bank launched a 20-year home loan scheme at a fixed rate of 10.40 per cent for loans of up to Rs 50 lakh.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Tata motors
The Stock has given break down of Head & shoulders pattern on the daily charts with good volume. the pattern target lies at 471 with the stop loss of 530. The RSI is also well below the 40% level, indicating bearishness. The stock can be sold at cmp and on rise till 511 for the target of 495-487-480.5 with the stop loss of 514 on closing basis
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