Nifty opened with a gap up of 23 points at 8346 and made a high of 8356.65. The market traded in the tight range of 8320-8350 for most of the trading session. During the last hour of trading the market fell sharply towards the 8270 levels. On the daily charts Nifty has formed a bearish engulfing pattern with good volumes. The pattern being formed near the gap resistance has greater significance. As long as 8365 is not taken out on closing basis the market is likely to trade in the 8170-8370 range. Any rally can be shorted with 8405 as stop loss and 8220-8170 as targets. The market can trade in range with negative bias.
The support for nifty is at 8266-8215-8170 and the resistance lies at 8378-8414-8469. Nifty January Future
has been trading at 17-18 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 14.14 and for puts were at 15.46. India VIX closed at 16.4825.
PCR for Nifty based on open interest was at 1.08 and PCR for the day based on
volumes was at 1.04 for the market.
CASH MARKET:
FII 5046.28 - 4811.19 = 235.09Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1879.49 | 1438.66 | 440.83 |
| INDEX OPTIONS | 12417.14 | 11845.05 | 572.08 |
| STOCK FUTURES | 2565.08 | 2576.84 | -11.76 |
| STOCK OPTIONS | 1550.66 | 1530.00 | 20.66 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| NELCO Limited | Annual General Meeting | 14-Jan-15 |
| Siemens Limited | Annual General Meeting/Final Dividend - Rs 6/- Per Share | 14-Jan-15 |
STOCKS IN NEWS:**
Yes Bank Ltd: The private sector bank is expected to report 25.1 percent YoY growth in its net profit number to Rs 520 core for the quarter ended December 31, as compared to Rs 415.6 crore reported in the year-ago period.
Piramal Enterprises Ltd: Piramal Enterprises' Pharma Solution division, a global leader in contract development and manufacturing today said it plans to invest USD 40 million in new equipment and next generation technologies.
ITC Ltd: The government on Tuesday moved to amend the anti-smoking law and proposed radical changes, including ban on sale of loose cigarettes and raising the minimum age of a person buying tobacco products to 21 years from existing 18.
Strides Arcolab Ltd: Global pharmaceutical major Strides Arcolab said its Singapore-based wholly owned subsidiary Strides Pharma Global has been awarded 'International Headquarters Status' by the Singapore Economic Development Board (EDB).
Max India Ltd: Max India, the flagship company of New Delhi-based serial entrepreneur Analjit Singh, may be split into three divisions -insurance, healthcare and specialty films - with holding companies being created for each of them, two people familiar with the development said.
Idea Cellular Ltd: Idea Cellular, India's No. 3 mobile phone company, plans to launch 3G services in Delhi on its own network in April, a top company executive said, adding that this will make it the first network in the country to use the more efficient 900 Mhz band.
DLF Ltd: A shareholder of DLF has filed a writ petition in the Delhi High Court challenging the decision of the Securities and Exchanges Board of India (Sebi) to allow the company to raise money through qualified institutional placement ( QIP) in May 2013.
ING Vysya Bank Ltd: The shareholder Warhol Ltd sold its 3.63 per cent stake in the private sector lender for an estimated Rs 674 crore. According to the bulk deal information with the stock exchanges, Warhold offloaded a total of 69.50 lakh shares (3.63 per cent stake) of ING Vysya on the BSE and the National Stock Exchange (NSE).
Marico Ltd: Foreign fund house Oppenheimer today offloaded more than 59 lakh shares of consumer products firm Marico Ltd for an estimated Rs 189.14 crore through the open market route.
Tyre companies: Last month - for the first time in over one-and-half years - tyre companies cut prices across segments by as much as 4%. According to industry executives, tyre companies such as MRF, CEAT and Apollo Tyres have all introduced price cuts.
Tata Motors Ltd: The global automaker reported 8 per cent increase in global sales, including Jaguar Land Rover, at 85,742 units in December 2014.
OMCs in focus: Petrol and diesel could become cheaper this week as international oil prices have tumbled to about $45 per barrel, continuing their downward spiral since June last year as the market remains oversupplied.
STOCKS IN BAN PERIOD:
WOCKPHARMA
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Century Textiles Ltd
The Stock has formed a shooting star pattern on the daily charts with good volumes. This pattern near the 61.8% Fibonacci retracement of recent fall indicates trend reversal. The stock can be shorted with 560 as stop loss for the targets of 535-526-511
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