Nifty opened with a gap down of 20 points at 8535 and made a high of 8560. The market traded in the tight range of 8510-8540 for most of the trading session. The RBI monetary policy was a non event. The statuesque outcome on the rate front was inline with the street expectations. The market however tested the 8500 gap support and is likely to hold this support. Any dip towards it can be bought into with the 8470 as stop loss. The market sis expected to trade with positive bias for the day.
The support for nifty is at 8501-8456-8414 and the resistance lies at 8554-8592-8630. Nifty December Future
has been trading at 50-51 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 11.53 and for puts were at 11.38. India VIX closed at 12.395.
PCR for Nifty based on open interest was at 1.01 and PCR for the day based on
volumes was at 0.97 for the market.
CASH MARKET:
FII 3570.7 - 3463.88 = 106.82Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1350.25 | 2646.04 | -1295.79 |
| INDEX OPTIONS | 17434.80 | 18030.16 | -595.36 |
| STOCK FUTURES | 2054.46 | 2837.95 | -783.49 |
| STOCK OPTIONS | 1635.82 | 1592.21 | 43.61 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Ballarpur Industries Limited | Annual General Meeting / Dividend - Re 0.20/- Per Share | 3-Dec-14 |
STOCKS IN NEWS:**
JSW Steel Ltd: India's JSW Steel Ltd said on Tuesday it has "put on hold" building a steel plant in eastern India due to uncertainty in sourcing key raw materials such as iron ore and coal.
United Bank of India: In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as willful defaulter.
Omaxe Ltd: Realty firm Omaxe said its board has approved the company's proposal to raise up to Rs 500 crore through issue of debt securities.
Jet Airways: Leading stock exchange BSE today revised the permissible daily trading limit for shares of Jet Airways and 19 other companies, as part of a surveillance action.
Tata Motors Ltd: British auto firm Jaguar Land Rover said it has started building its first fully-owned factory outside the United Kingdom in the Brazilian town of Itatiaia, near Rio de Janeiro.
MRF Ltd: Tyre major MRF Ltd has proposed to increase capacity at its eight manufacturing facilities across the country as part of its capital expenditure plan.
JSW Energy & Jaiprakash Associates: Barely weeks after buying out two hydro power projects of JP Power for Rs 9700 crores, Sajjan Jindal is closing in to strike yet another large deal with Manoj Gaur's power company and this time it is for its coal-based power assets.
Ranbaxy Laboratories Ltd: Awaiting a long-pending approval for its merger with Sun Pharmaceutical, drug maker Ranbaxy today said it is in talks with fair trade watchdog CCI with regard to "certain products".
Sahara Group companies: The Supreme Court allowed the Sahara group on Tuesday to sell a property in Choma village near Gurgaon at a price 15 per cent lower than the value estimated earlier, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Allhabad Bank
The stock has given break out of inverted Head & Shoulders pattern on the daily charts with good volumes. The price target lies at 156 with the stop loss of 116. For the short term buy the stop at cmp and on declines to 124 for the targets of 132-137.7-144.2 with the stop loss of 122.5 on closing basis.
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