Nifty opened with a gap up of 36 points at 8550 and made a high of 8571. The market stayed in the short range of 8565-8545 levels. the daily charts indicate a doji, which is a sign of indecision. The market is consolidating before taking out the all time high. There is strong resistance at 8580, which the market has to overcome to keep its rise. The market may fall back till the 8500 levels before resuming its up move. The market is expected to trade sideways with negative bias.
The support for nifty is at 8530-8479-8433 and the resistance lies at 8587-8625-. Nifty January Future
has been trading at 23-24 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 16.01 and for puts were at 15.65. India VIX closed at 17.65.
PCR for Nifty based on open interest was at 1.09 and PCR for the day based on
volumes was at 1.04 for the market.
CASH MARKET:
FII 3695.66 - 3261.94 = 433.72Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1132.77 | 1076.75 | 56.01 |
| INDEX OPTIONS | 10260.43 | 10914.73 | -654.31 |
| STOCK FUTURES | 2545.81 | 2453.54 | 92.26 |
| STOCK OPTIONS | 1933.02 | 1937.09 | -4.07 |
Info Edge Ltd: Info Edge, which runs leading job portal Naukri.com, today reported 20 per cent growth in standalone net profit at Rs 38.6 crore for the third quarter ended December 31, 2014.
Mindtree Ltd: The IT major will acquire US-based insurance solutions provider Discoverture Solutions for $ 15 million (over Rs 92 crore), a move aimed at helping the mid-sized Indian IT firm tap the $ 1.5 billion opportunity in the global P&C services market.
Reliance Industries Ltd: Reliance Industries, which reported its first decline in quarterly net profit in over two years, is likely to see upside when its USD 16 billion expansion projects are completed and telecom venture is rolled out, analysts said.
REC Ltd: The Competition Commission has ordered a probe against state-owned REC for allegedly indulging in unfair business practices with respect to financing of rural electrification schemes.
Blue Star Ltd: Air-conditioning and commercial refrigeration company Blue Star Ltd would finalise the land to set up a manufacturing unit in the Southern region, which would see investments of about Rs 150 crore, a top company official said.
MRF Ltd: Madras Rubber Factory (MRF), India's largest tyre manufacturer is in advance discussion with BK Birla flagship Kesoram Industries to acquire its main tyre unit out of the two of Birla Tyres for a value that's far higher than the market capitalization of the entire diversified Birla conglomerate, said multiple sources involved.
OBC: Four days after rate cut by the RBI, Oriental Bank of Commerce(OBC) slashed fixed deposit rate across various maturities by up to 0.50 per cent.
Punj Lloyd Ltd: Engineering major Punj Lloyd said it has sold its entire 17.74 per cent stake in Global Health Pvt Ltd, which owns Gurgaon-based Medanta Medicity hospital among others, to an arm of Singapore's state-owned investment company Temasek Holdings.
Hindustan Zinc Limited: HZLposted a 38% jump in net profit to Rs 2,379 crore in the third quarter ended December 31, 2014 against Rs 1,723 crore in the same period last year, riding on a 10% jump in production of mined metal during the quarter.
Indiabulls Housing Finance Ltd: The company reported 21 per cent rise in net profit at Rs 478.1 crore for the third quarter of 2014-15.
STOCKS IN BAN PERIOD:
HDIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Reliance Infra
The Stock has given a trendline breakout with ood volumes on the daily charts. The stock is expected to move towards the 560 levels. The stock can be bought with the stop loss of 474 for the target of 497-507-523-536
No comments:
Post a Comment