Nifty opened with a gap up of 5 points at 8272 and made a high of 8286.4. During first half of the trading session the market stayed mostly range bound in 8230-8260. Once the 8200 support was broken all hell broke loose. The market went south with no respite what so ever. After filling the gap left at 8207-8173 the market went on to make 8155 low. On the daily charts Nifty has completed the Bearish Harami pattern with big black body confirmation. The market will start its move down again to correct the rise from 7723-8627, once the 8120-8080 is taken out. The market is likely to trade sideways with negative bias for the day.
The support for nifty is at 8150-8115-8080 and the resistance lies at 8210-8262-8297. Nifty January Future
has been trading at 103-104 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 15.48 and for puts were at 13.12. India VIX closed at 15.07.
PCR for Nifty based on open interest was at 0.89 and PCR for the day based on
volumes was at 0.88 for the market.
CASH MARKET:
FII 5112.98 - 7921.25 = -2808.27Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3462.45 | 4765.62 | -1303.16 |
| INDEX OPTIONS | 22867.77 | 21831.40 | 1036.36 |
| STOCK FUTURES | 13967.45 | 15613.63 | -1646.18 |
| STOCK OPTIONS | 437.72 | 382.89 | 54.83 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| R Systems International Limited | Fourth Interim Dividend | 26-Dec-14 | 29-Dec-14 |
| Glodyne Technoserve Limited | Annual General Meeting | 26-Dec-14 | - |
STOCKS IN NEWS:**
Reliance Industries Ltd: RIL informed on Thursday that it has signed a deal with Mitsui OSK Lines (MOL) for transporting liquefied ethane from North America starting 2017.
SpiceJet Ltd: A fund managed by JPMorgan Chase is in advanced discussions to team up with Ajay Singh to invest around $200 million (Rs 1,200 crore) in cash-strapped SpiceJet - a move that will help the ailing airline to take off again, said multiple sources aware of the ongoing discussions.
ONGC: The government may soon allow ONGC and Reliance Industries Ltd (RIL) to develop six gas discoveries, which have been unexploited for several years because of disputes over methods to confirm their commercial viability.
Max India: Two promoter entities of Max India Ltd have pledged a total of eight lakh shares to Kotak Mahindra Prime Ltd and Aditya Birla Finance Ltd.
MCX: Financial Technologies today said SKS Capital has backed out from acquiring some of its stake in MCX-SX even as other investors, including Rakesh Jhunjhunwala, have completed purchase of shares in the stock exchange.
Bharti Airtel Ltd: Bharti Airtel prepaid customers will be charged more for voice and video calls made on Skype, Viber and similar services than for browsing the internet, in a move that could impinge on the principle of 'net neutrality'.
Tata Chemicals Ltd: The chemical company is planning to expand its nutrition and wellness business by using latest innovations and technologies, its top executive has said.
Future Retail Ltd: Promoters of Future Group led by Kishore Biyani have received "liquidity support" from Azim Premji, the cash-rich billionaire founder of Wipro. Premji Invest, the private investment entity of the Wipro Chairman, has pumped Rs 175 crore into a promoter company of the Future Group in a structured deal.
Reliance Capital Ltd: Reliance Capital, the Anil Ambani-led financial company, has sold a 2.8 per cent stake to Japan's Sumitomo Mitsui Trust Bank for Rs 371 crore to bolster its ambition of owning a bank as and when RBI kicks off on-tap licensing.
Oil India Ltd: Oil India Ltd, India's second-largest government-owned exploration firm, has commissioned its first 5 MW solar power plant in Rajasthan.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
BHEL
The stock has formed a bearish harami with confirmation on the daily charts with good volume. RSI @35 is in bearish zone indicating a sell. The stock can be sold for the target of 251.25-248.2-244 with the stop loss of 262.55 on closing basis. The
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