Nifty opened with a gap up of 7 points at 8307 and made a high of 8326.45. The market went up but failed to build up further gain and fell to 8236 low. The market has broken the channel in which it rose from 8065 to 8356 on the hourly charts. The channel has target of 8124 with the stop loss of 8340.
However the market is showing a tendency to bounce back from the lows. A clear case of resilience due to low level buying. The market is expected to trade sideways with negative bias.
The support for nifty is at 8248-8203-8166 and the resistance lies at 8315-8354-8404. Nifty January Future
has been trading at 29-30 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 16.03 and for puts were at 15.05. India VIX closed at 17.2475.
PCR for Nifty based on open interest was at 1.13 and PCR for the day based on
volumes was at 1.10 for the market.
CASH MARKET:
FII 4248.3 - 4318.04 = -69.74Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1584.90 | 1406.70 | 178.21 |
| INDEX OPTIONS | 14660.44 | 14340.72 | 319.72 |
| STOCK FUTURES | 2297.63 | 2541.99 | -244.37 |
| STOCK OPTIONS | 1933.48 | 1935.28 | -1.80 |
STOCKS IN NEWS:**
TCS Ltd: The IT bellwether is expected to report 3.2 percent growth in its net profit number to Rs 5462 crore for the third quarter for the fiscal year 2015, as compared to Rs 5288.3 crore reported in the year-ago period, said an ET Now Poll.
BlueDart Ltd: US giant Amazon is learnt to be in preliminary talks to acquire a majority stake in leading courier and integrated express package distribution company Blue Dart, sources privy to ongoing discussions told ET NOW.
JSW Steel Ltd: The company is in talks to buy an iron ore terminal in Tamil Nadu from Sical Logistics, a move aimed at backward integration of its operations and saving on cost of importing the key raw material, people familiar with the deal told ET.
NIIT Technologies Ltd: IT firm NIIT Technologies reported 9.2 per cent fall in its net profit at Rs 48.2 crore for the quarter ended December 31, 2014.
IOC Ltd: The government is likely to sell 10 per cent of its stake in Indian Oil Corp, the nation's biggest company, this fiscal to raise about Rs 8,150 crore.
SpiceJet: Refuting reports of a Rs 875-crore deal between SpiceJet and the Sun Group, the airline has clarified that business dealings between the two had been merely of Rs 36.63 crore between FY2012 and FY2014.
Novartis India Ltd: Delhi High Court today sought the response of Switzerland-based drug major Novartis AG on the plea of Indian pharma firm Cipla against an order restraining it from making its respiratory disease drug, Indaflo, till it obtains a compulsory licence.
Hindustan Zinc Ltd: Banking on Modi government's determination to go ahead with disinvestment drive, Vedanta Resources chief Anil Agarwal said the company expects to pick up residual stakes in Hindustan Zinc and BALCO at "market driven value" soon.
Coal India Ltd: State-run miner Coal India is in talks with Australian companies to acquire technology that will help unlock over two billion tonnes of coal trapped in pillars of its lossmaking underground mines.
Essar Oil Ltd: The Company is examining the possibility of setting up facilities to gasification of the pet coke for its requirements. The Company has communicated to the Government of Gujarat of its preliminary intention to consider this project in due course after obtaining necessary internal and other approvals. As on date there is no firm proposal for setting up of these facilities.
Bajaj Finserv Ltd: The Bajaj group company posted a consolidated net profit of Rs 347 crore in Q3 FY 15 versus Rs 281 crore in the same quarter of the previous fiscal representing a growth of 23 per cent.
Federal Bank: The bank is expected to report a net profit of Rs 246 crore, up 6.9 percent YoY for the quarter ended December 31, as compared to Rs 230.1 crore reported in the year-ago period, said an ET Now Poll.
ITC & Godfrey Philips India Ltd: Sales volume fell by more than 10% in the July-December period from the January-June half due to a 15-35% increase in cigarette prices after the last Budget that raised taxes, according to analysts tracking the sector.
Infosys Ltd: The IT major has pledged to invest $250 million (Rs 1,500 crore) in Indian startups in the first such commitment by a cash-rich software services company.
TCS Ltd: The IT bellwether is expected to report 3.2 percent growth in its net profit number to Rs 5462 crore for the third quarter for the fiscal year 2015, as compared to Rs 5288.3 crore reported in the year-ago period, said an ET Now Poll.
BlueDart Ltd: US giant Amazon is learnt to be in preliminary talks to acquire a majority stake in leading courier and integrated express package distribution company Blue Dart, sources privy to ongoing discussions told ET NOW.
JSW Steel Ltd: The company is in talks to buy an iron ore terminal in Tamil Nadu from Sical Logistics, a move aimed at backward integration of its operations and saving on cost of importing the key raw material, people familiar with the deal told ET.
NIIT Technologies Ltd: IT firm NIIT Technologies reported 9.2 per cent fall in its net profit at Rs 48.2 crore for the quarter ended December 31, 2014.
IOC Ltd: The government is likely to sell 10 per cent of its stake in Indian Oil Corp, the nation's biggest company, this fiscal to raise about Rs 8,150 crore.
SpiceJet: Refuting reports of a Rs 875-crore deal between SpiceJet and the Sun Group, the airline has clarified that business dealings between the two had been merely of Rs 36.63 crore between FY2012 and FY2014.
Novartis India Ltd: Delhi High Court today sought the response of Switzerland-based drug major Novartis AG on the plea of Indian pharma firm Cipla against an order restraining it from making its respiratory disease drug, Indaflo, till it obtains a compulsory licence.
Hindustan Zinc Ltd: Banking on Modi government's determination to go ahead with disinvestment drive, Vedanta Resources chief Anil Agarwal said the company expects to pick up residual stakes in Hindustan Zinc and BALCO at "market driven value" soon.
Coal India Ltd: State-run miner Coal India is in talks with Australian companies to acquire technology that will help unlock over two billion tonnes of coal trapped in pillars of its lossmaking underground mines.
Essar Oil Ltd: The Company is examining the possibility of setting up facilities to gasification of the pet coke for its requirements. The Company has communicated to the Government of Gujarat of its preliminary intention to consider this project in due course after obtaining necessary internal and other approvals. As on date there is no firm proposal for setting up of these facilities.
Bajaj Finserv Ltd: The Bajaj group company posted a consolidated net profit of Rs 347 crore in Q3 FY 15 versus Rs 281 crore in the same quarter of the previous fiscal representing a growth of 23 per cent.
Federal Bank: The bank is expected to report a net profit of Rs 246 crore, up 6.9 percent YoY for the quarter ended December 31, as compared to Rs 230.1 crore reported in the year-ago period, said an ET Now Poll.
ITC & Godfrey Philips India Ltd: Sales volume fell by more than 10% in the July-December period from the January-June half due to a 15-35% increase in cigarette prices after the last Budget that raised taxes, according to analysts tracking the sector.
Infosys Ltd: The IT major has pledged to invest $250 million (Rs 1,500 crore) in Indian startups in the first such commitment by a cash-rich software services company.
STOCKS IN BAN PERIOD:
WOCKPHARMA
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Reliance Infra
The Stock has been trading in the range of 525-470 for the past one month. It has given breakdown of the rectangle channel with good volume. The RSI is also moved below 40% giving fresh sell signal. The pattern target lies at 415 with the stop loss of 500. For the short term sell the stock at cmp & on rise to 475 with the stop loss of 485 on closing basis for the targets of 450-441-432-425
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