Nifty opened with a gap up of 7 points at 8291 and made a high of 8332.60. The market tested the gap at 8323. For most of the trading session the market remained range bound below 8300. But during last hour of the trading session the market shot up to close at 8323. This buying is positive for the market. However the gap at 8323-8365 is strong resistance. a breach of 8300 will indicate weakness in the market. The market is likely to remain sideways with positive bias.
The support for nifty is at 8320-8271-8241 and the resistance lies at 8365-8404-8455. Nifty January Future
has been trading at 37-38 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 14.33 and for puts were at 14.44. India VIX closed at 16.11.
PCR for Nifty based on open interest was at 1.03 and PCR for the day based on
volumes was at 1.0 for the market.
CASH MARKET:
FII 3289.52 - 3044.57 = 244.95Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1135.47 | 1380.15 | -244.68 |
| INDEX OPTIONS | 10399.22 | 10286.28 | 112.94 |
| STOCK FUTURES | 2154.47 | 2351.33 | -196.86 |
| STOCK OPTIONS | 1795.33 | 1803.59 | -8.25 |
STOCKS IN NEWS:**
Yes Bank
-Company plans to raise Rs 3000 crore by September
-To be classified as Tier-II, non equity, capital
-Part of a Rs 8000 crore capital raising program
UltraTech Cement
-UltraTech drops out of race for Holcim-Lafarge assets: ET
-Company hasn’t participated in the final round of bidding
-They had placed a bid in round 1 for assets worth USD 2 billion
NTPC
-To invite tenders for USD 1.2 billion Bangladesh joint venture power project: ET
-The coal-fired 1320MW plant to be operational by FY18
Reliance Communications
-Company to outsource call centre, shared services operations to Vertex: ET
-Awarded a Rs 750 crore deal to UK Based Vertex, to outsource operations
Cipla
-Company may restart supply of drugs to AIDS program: BS
-Out of 2.1 million HIV patients in India, 7.5 lakh rely on free drugs
-They were in acute short supply at the end of 2014
Natco Pharma
-Bristol-Myers Squibb, Natco Pharma settle patent dispute
-Dispute was over the patent of Hepatitis B drug Entecavir: BS
GMR Infrastructure
-Has started road shows for Delhi International Airport's (DIAL) maiden overseas bond issue: ET
-Company has plans to raise about USD 290-300 million (Rs 1800-1864 crore) in dollar bonds
-Funds will be used to retire debt on the Airport's books
Videocon Industries
-Videocon Telecom, the telecom arm of Videocon Group, has received interests from a Mexican company & an Indian telecom player to buy a 49 percent stake: ET
-But any deal would happen only after the auction of telecom frequencies, in February, and after the government offers more clarity on merger and acquisition rules
Idea Cellular
-Microsoft Mobiles, maker of Lumia smartphones, has tied up with Idea Cellular for enabling the telco's 34 million data users to purchase apps and pay for them through monthly bills or prepaid balances: ET
-Has said that discounts and freebies on voice and data tariffs will be reduced in the coming months: TOI
-Company plans to raise Rs 3000 crore by September
-To be classified as Tier-II, non equity, capital
-Part of a Rs 8000 crore capital raising program
UltraTech Cement
-UltraTech drops out of race for Holcim-Lafarge assets: ET
-Company hasn’t participated in the final round of bidding
-They had placed a bid in round 1 for assets worth USD 2 billion
NTPC
-To invite tenders for USD 1.2 billion Bangladesh joint venture power project: ET
-The coal-fired 1320MW plant to be operational by FY18
Reliance Communications
-Company to outsource call centre, shared services operations to Vertex: ET
-Awarded a Rs 750 crore deal to UK Based Vertex, to outsource operations
Cipla
-Company may restart supply of drugs to AIDS program: BS
-Out of 2.1 million HIV patients in India, 7.5 lakh rely on free drugs
-They were in acute short supply at the end of 2014
Natco Pharma
-Bristol-Myers Squibb, Natco Pharma settle patent dispute
-Dispute was over the patent of Hepatitis B drug Entecavir: BS
GMR Infrastructure
-Has started road shows for Delhi International Airport's (DIAL) maiden overseas bond issue: ET
-Company has plans to raise about USD 290-300 million (Rs 1800-1864 crore) in dollar bonds
-Funds will be used to retire debt on the Airport's books
Videocon Industries
-Videocon Telecom, the telecom arm of Videocon Group, has received interests from a Mexican company & an Indian telecom player to buy a 49 percent stake: ET
-But any deal would happen only after the auction of telecom frequencies, in February, and after the government offers more clarity on merger and acquisition rules
Idea Cellular
-Microsoft Mobiles, maker of Lumia smartphones, has tied up with Idea Cellular for enabling the telco's 34 million data users to purchase apps and pay for them through monthly bills or prepaid balances: ET
-Has said that discounts and freebies on voice and data tariffs will be reduced in the coming months: TOI
STOCKS IN BAN PERIOD:
NIL
Source:**moneycontrol.com , nseindia.com
STOCK OF THE DAY:
IDBI Bank
the Stock is showing strength and has formed an outside candle on the daily charts. The stock can be bought with the stop loss of 72.75 for the target of 75.60-77.75-78.5
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