Nifty opened with a gap up of 24 points at 8574 and made a high of 8707.90. For the entire trading session the market was rising steadily. Once the resistance and & all time high of 8626.95 was taken out the market had free terrain. The market can be expected to keep posting new highs with the sideways bias. Any dip should be bought into as long as the 8570 is protected on downside. The market is likely to trade sideways with positive bias.
The support for nifty is at 8649-8613-8566 and the resistance lies at 8739-8790-8856. Nifty January Future
has been trading at 21-22 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 13.74 and for puts were at 14.26. India VIX closed at 17.2725.
PCR for Nifty based on open interest was at 1.09 and PCR for the day based on
volumes was at 1.06 for the market.
CASH MARKET:
FII 4796 - 3520.41 = 1275.59Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 3894.58 | 2145.52 | 1749.06 |
| INDEX OPTIONS | 20880.47 | 19879.41 | 1001.07 |
| STOCK FUTURES | 3114.54 | 2819.76 | 294.78 |
| STOCK OPTIONS | 2454.10 | 2528.02 | -73.92 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| R. S. Software (India) Limited | Interim Dividend / Face Value Split From Rs 10/- Per Share To Rs 5/- Per Share | 21-Jan-15 | 22-Jan-15 |
STOCKS IN NEWS:**
IOC Ltd: The Cabinet Committee on Economic Affairs will discuss on Wednesday the possible sale of a 10 percent stake in Indian Oil Corp, two sources with knowledge of the matter told Reuters, as the government finds ways to meet its fiscal deficit target.
TCS Ltd: IT services firm Tata Consultancy Services (TCS) said it has signed a multi-year contract with Virgin Atlantic Airways covering private cloud, Infrastructure-as-a-Service (IaaS) and IT support services.
ING Vysys Bank Ltd: The private sector bank is expected to report 16 percent YoY growth in net profit to Rs 194 crore for the quarter ended December 31, as compared to Rs 167.3 crore reported in the year-ago period.
L&T Finance Holding Ltd: The company is expected to report 79.6% YoY growth in net profit to Rs 197 crore for the quarter ended December 31, as compared to Rs 109.70 crore reported in the year-ago period.
ZEE Entertainment Ltd: The company is expected to report 12% YoY growth in net profit to Rs 240 crore for the quarter ended December 31, as compared to Rs 214 crore reported in the year-ago period.
Hindustan Media Ventures (HMVL): The company reported 27.05 per cent increase in standalone net profit at Rs 36.58 crore for the third quarter ended December 31, 2014. The company had reported a net profit of Rs 28.79 crore in the corresponding period a year ago.
Rallis India Ltd: Tata group firm Rallis India reported 16 per cent decline in consolidated net profit at Rs 25.49 crore for the quarter ended December 31, 2014 on lower sales.
South Indian Bank: The private sector bank has registered a 38 per cent dip in its net profit at Rs 87.93 crore for the October-December quarter of this fiscal due to a steep hike in provisions for bad loans.
REC: The Department of Disinvestment (DoD) will likely conduct 5% stake sale in Rural Electrification Corporation(REC) in the next one week to ten days as part of its FY15 disinvestment plan, said sources in the finance ministry and capital markets on conditions of anonymity, said media reports.
Jet Airways Ltd: Jet Airways has sought approval of shareholders to raise $300 million (Rs 1,800 crore) through issue of non-convertible debentures to strategic partner and co-owner Etihad Airways.
STOCKS IN BAN PERIOD:
HDIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Gati LTD
The stock has been trading in a range since past 3 months. It has broken out of this rectangle channel with good volumes. The stock has pattern target of 353 with the stop loss of 270. For short term the stock can be bought at amp & on fall till 295 with the stop loss of 285 for the targets of 305-320-332
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