Nifty opened with a gap up of 109 points at 8139 and made a high of 8174.30. The FED dovish announcements has pumped the much needed air in the market. DOW had best two day gain since 2011, rubbing its bullishness across the world. After the morning gains the market not only build up higher but was able to hold the gain for closing. Although the market has formed a small body candlestick, but considering the closing price the morning star is complete on the daily charts. The market can be expected to move higher towards the 8370 level once it takes out the 8190 level. Any dip towards the 8100 support should be bought into. For the day market is likely to stay sideways with positive bias.
The support for nifty is at 8120-8070-8030 and the resistance lies at 8190-8265-8319. Nifty December Future
has been trading at 21-22 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 14.29 and for puts were at 12.66. India VIX closed at 14.5975.
PCR for Nifty based on open interest was at 1.02 and PCR for the day based on
volumes was at 0.99 for the market.
CASH MARKET:
FII 3593.3 - 4468.19 = -874.89Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 2601.61 | 2565.52 | 36.09 |
| INDEX OPTIONS | 23294.63 | 21951.46 | 1343.17 |
| STOCK FUTURES | 4855.63 | 4544.98 | 310.65 |
| STOCK OPTIONS | 2049.88 | 2111.60 | -61.71 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Aftek Limited | Annual General Meeting | 19-Dec-14 |
| Duncans Industries Limited | Annual General Meeting | 19-Dec-14 |
| VTX Industries Limited | Annual General Meeting | 19-Dec-14 |
| Goenka Diamond and Jewels Limited | Annual General Meeting | 19-Dec-14 |
| Venus Remedies Limited | Annual General Meeting | 19-Dec-14 |
STOCKS IN NEWS:**
Larsen & Toubro (L&T): The infrastructure major said it has completed the definitive investment agreement with Canada Pension Plan Investment Board (CPPIB) for investment of Rs 2,000 crore in the engineering firm.
SpiceJet Ltd: SpiceJet flights took off on Thursday, bringing relief to passengers who were fearing a repeat of the previous day, when the carrier's planes stayed grounded until the evening.
Coal India Ltd: The labour unions of state-run Coal India Ltd have threatened to go on a five-day strike beginning Jan. 6 to protest government plans to sell off a stake and end the company's monopoly in mining and distribution, officials said.
Tata Motors Ltd: Jaguar Land Rover is recalling 1,571 Jaguar XJ luxury sedans in the United States for a possible braking issue, according to documents posted by U.S. safety regulators.
Hotel Leelaventure Ltd: Luxury hospitality chain Hotel Leelaventure inked a memorandum of understanding with Nepal-based Summit Group which will develop the property in the heart of Kathmandu in 36 months.
Tree House Education & Accessories Ltd: The Reserve Bank of India (RBI) said on Thursday that foreign institutional investors (FIIs) and registered foreign portfolios investors (RFPIs) can now invest up to 49 per cent of the paid up capital of Tree House Education & Accessories under the Portfolio Investment Scheme (PIS).
IVRCL: Ailing infrastructure firm IVRCL has announced that it has signed a definitive agreement with the Dubai-based Utico FZC to sell its Chennai desalination plant.
Crompton Greaves Ltd: Foreign institutional investors are now allowed to invest up to 100 percent of the paid up capital in Crompton Greaves , the RBI said in a notification.
GAIL Ltd: The Supreme Court today gave green signal to PSU Gas Authority of India Limited (India) Ltd to take part in the tendering process for laying Ennore-Tuticorin pipeline.
Atul Auto Ltd: The Lok Sabha passed the Motor Vehicles Amendment Bill, 2014, on Thursday, paving the way for regularisation of e-rickshaws, banned by the high court here on safety grounds.
STOCKS IN BAN PERIOD:
1 HDIL
2 UNITECH
3 WOCKPHARMA
2 UNITECH
3 WOCKPHARMA
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Canara Bank
The Stock has given breakout of the Inverted Head and Shoulders pattern on the daily charts. It has the target of 514 with the stop loss of 396. The stock can be bought with the stop loss of 422 on closing basis with the target of 444-452-459-463
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