Nifty opened with a gap up of 4 points at 8528.7 and made a high of 8547. The market stayed in the range of 30 points for most of the trading session. It tested the support of 8500 and bounced back sharply. As long as 8500 holds the market can retest the 8625 level again. In order to move higher the market has to break the sealing of 8645. For the day market will trade with positive bias.
The support for nifty is at 8515-8480-8436 and the resistance lies at 8575-8600-8645. Nifty December Future
has been trading at 42-43 points premium to the spot. The implied volatility on
the Nifty December Options of ATM strike calls were at 7.82 and for puts were at 12.61. India VIX closed at 12.3675.
PCR for Nifty based on open interest was at 0.92 and PCR for the day based on
volumes was at 0.87 for the market.
CASH MARKET:
FII 4758.37 - 4367.3 = 391.07Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 851.09 | 1848.07 | -996.99 |
| INDEX OPTIONS | 10460.09 | 9485.52 | 974.58 |
| STOCK FUTURES | 2272.92 | 2710.04 | -437.12 |
| STOCK OPTIONS | 1542.15 | 1509.27 | 32.88 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Manaksia Limited | Scheme Of Arrangement | 4-Dec-14 | 5-Dec-14 |
| ICICI Bank Limited | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share | 4-Dec-14 | 5-Dec-14 |
STOCKS IN NEWS:**
DLF Ltd: Real estate major, DLF has initiated a process to sell 50% of its subsidiary, DLF Cyber City Developers (DCCD) to raise over Rs 3,500 crores, sources with direct knowledge share.
Reliance Industries Ltd: The government is considering ways to recover $195.3 million from the contractor of the KG-D6 Block because it has disallowed development costs of $2.376 billion, oil minister Dharmendra Pradhan told the Rajya Sabha on Wednesday.
SAIL: Government will sell a 5 percent stake in state-run Steel Authority of IndiaLtd on Friday, kicking off a disinvestment program that is crucial for Prime Minister Narendra Modi's government to help cut the budget deficit.
MTNL: State-owned telecom firms BSNL and MTNL have incurred losses of Rs 3,785 crore and Rs 1,567 crore till September 30 in the current financial year and steps are being taken to revive them, government said today.
ONGC: The government is considering reworking the subsidy sharing formula for Oil and Natural Gas Corp, Petroleum Minister Dharmendra Pradhan said on Wednesday, in a bid to lower its discount burden and boost the state-run oil company's profits.
Central Bank of India: State-owned Central Bank of India said it would raise about Rs 626 crore through preferential allotment of shares to country's largest insurer LIC to fund business growth.
NTPC Ltd: NTPC has approached the Ministry of Environment and Forest seeking amendments to Terms of Reference (TOR) for its proposed expansion of Telangana's Ramagundam power plant to 2x800 mw.
NMDC Ltd: India's largest iron ore miner, is putting final touches to a corporate plan that aims to raise production more than threefold to 100 million tonne (mt) by 2025. While 90% of it will be produced in India, 10% will come from NMDC's Legacy Iron Ore mines in Australia.
Suven Life Sciences Ltd: Pharmaceuticals firm Suven LifeSciences Ltd today said it has raised Rs 200 crore through Qualified Institutional Placement (QIP) route to fund its clinical development programme and capital expenditure.
Sadbhav Engineering Ltd: Sadbhav Infrastructure Projects has filed draft papers with the regulator Sebi for raising up to Rs 600 crore through an initial public offering.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
LICHSG FINANCE
The Stock broken out of consolidation of past to weeks with strong volumes. It is likely to move up towards higher levels. The stock can be bought with the stop loss of 424 for the targets of 439.25-446.45-460.15
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