Nifty opened with a gap down of 63 points at 8160.75 and made a high of 8242.4. The market opened with hue gap down below the support area but the lower level buying took market up. For most of the day market consolidated in the range of 8200-8240. On the daily charts the market has formed Bullish Meeting Lines, which is a reversal pattern. The pattern importance increases as it is formed in the strong support zone of 8180-8200. The market is likely to move up from here towards the 8320 levels in short term. Any dip towards the 8200-8180 should be bought into with the stop loss of 8150.
The support for nifty is at 8160-8112-8078 and the resistance lies at 8267-8336-8391. Nifty December Future
has been trading at 47-48 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 17.83 and for puts were at 12.89. India VIX closed at 14.02.
PCR for Nifty based on open interest was at 0.91 and PCR for the day based on
volumes was at 0.89 for the market.
CASH MARKET:
FII 3296.78 - 3752.5 = -455.72Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1825.52 | 1646.89 | 178.62 |
| INDEX OPTIONS | 19784.05 | 20744.64 | -960.59 |
| STOCK FUTURES | 1881.87 | 2771.21 | -889.34 |
| STOCK OPTIONS | 2165.73 | 2237.86 | -72.13 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Visagar Polytex Limited | Annual General Meeting / Final Dividend - Re 0.10/- Per Share | 16-Dec-14 | - |
| Nova Electro Magnetics Limited | Annual General Meeting | 16-Dec-14 | - |
| Essar Oil Limited | Annual General Meeting | 16-Dec-14 | - |
| Oil & Natural Gas Corporation Limited | Interim Dividend | 16-Dec-14 | 17-Dec-14 |
| ICSA (India) Limited | Annual General Meeting | 16-Dec-14 | - |
STOCKS IN NEWS:**
SpiceJet LtdBSE -7.82 %: SpiceJet, India's second biggest budget carrier, has sought the government's help in running flight operations. The aviation ministry would forward the request to the Prime Minister's Office and the Finance Ministry, sources said.
Ramky Infrastructure LtdBSE 0.30 %: The company said the lenders of the company have suggested it go for debt restructuring.
Motherson Sumi Systems Ltd: Automotive parts maker Motherson Sumi Systems will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore, a move that will help the company to offer a diverse polymer products.
IDBI Bank Ltd: State-owned IDBI Bank Ltd is looking to sell its 5% stake in the National Stock Exchange (NSE) after approval from the government, the bank said in a statement on Monday.
Infrastructure companies in focus: The Reserve Bank of India (RBI) eased rules for long-term loans by banks to the infrastructure sector and heavy industry, allowing for easier refinancing and more flexible restructuring as part of widely expected measures.
Bharti Airtel Ltd: The mobile operator has signed a deal to sell its over 1,100 telecom towers in Zambia and Rwanda to Africa's leading mobile infrastructure company IHS Holding for about Rs 2,000 crore as the world's fourth largest and India's No. 1 carrier attempts to lower its debt and turn around its loss-making operations in the continent.
RIL Ltd: The government's move to recover part of a $2.4-billion penalty it has imposed on Reliance Industries (RIL) hit a roadblock after state-run GAIL India and Chennai Petroleum Corp (CPCL) told the oil ministry that they cannot collect revenues from RIL-operated KG-D6 block as they are not buyers of oil and gas from the field.
Maruti Suzuki India Ltd: The country's largest car maker, plans to hike prices of its models in the range of 2-4 per cent from next month in order to partially offset the impact of rising input costs.
ONGC: State-run ONGC has apprised the upstream oil regulator of its intent to take over the equipment and infrastructure at the soon-to-be-exhausted Panna-Mukta-Tapti (PMT) fields, the PSU's joint venture with Reliance Industries and BG India, said media reports.
Reliance Capital Ltd: The company on Monday announced that it has sold off its multiplex business to Carnival Group in line with its objective to focus on the core financial services business and reduce debt, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Coal India Ltd.
The Stock has been falling in a channel since past six months. It has finally given breakout on the daily charts with good volumes. The RSI is well above the 60% bullish support, a clear indication of bullishness. The pattern target lies at 413 with the stop loss of 352. For short term buy the stock at cmp and on fall till 366 with the stop loss of 360 on closing basis and for the target of 383-390.3-399.25
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