Nifty opened with a gap down of 9 points at 8273 and made a high of 8294.7. After opening the tested the support of 8250 and bounced back sharply. However it failed to breach the resistance of 8300. As long as 8300 is not broken the market is likely to trade in 8200-8300 range. A breach of 8300 will take market to 8375-8400 levels. The market is likely to stay sideways with positive bias for the day. A dip towards the 8250 should be bought into with 8220 as stop loss.
The support for nifty is at 8264-8234-8185 and the resistance lies at 8300-8354-8404. Nifty January Future
has been trading at 59-60 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 13.7 and for puts were at 13.92. India VIX closed at 15.025.
PCR for Nifty based on open interest was at 0.99 and PCR for the day based on
volumes was at 0.93 for the market.
CASH MARKET:
FII 248.38 - 230.18 = 18.2Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 230.88 | 259.71 | -28.83 |
| INDEX OPTIONS | 2603.38 | 2144.68 | 458.69 |
| STOCK FUTURES | 354.08 | 334.41 | 19.67 |
| STOCK OPTIONS | 329.64 | 300.62 | 29.01 |
STOCKS IN NEWS:**
TVS Motor Company Ltd: Motorycles, scooters and auto-rickshaw maker TVS Motor Company (TVSMC) Thursday said its sales in the month of December grew by 20 percent with total sales clocking at 191,880 units.
IOC Ltd: Indian Oil Corp ( IOC), the nation's biggest company, will begin commissioning of its long-delayed Rs 34,500 crore Paradip refinery from the first quarter of 2015.
Hero MotoCorp Ltd: Country's largest two-wheeler maker Hero MotoCorp today reported a marginal rise of 0.21 per cent in sales at 5,26,097 units in December 2014.
Mahindra & Mahindra Ltd: Auto major Mahindra & Mahindra today reported 8 per cent decline in total sales at 36,328 units in December.
IOC, BPCL, HPCL: The government has increased excise duty on diesel and petrol by Rs 2 a litre, and said it would set aside the proceeds to build roads.
MCX: After acquiring a sizeable stake in India's largest commodity bourse MCX in a closely watched takeover drama, the Kotak group is grappling with a strange situation: it has run into a hurdle in securing board berths on MCX.
Dr Reddy's Laboratories Ltd: Betting big on the Indian market, Dr Reddy's Laboratories is driving its R&D team for products which are centred around the needs of the domestic market, said media reports.
ICICI Bank Ltd: India's biggest private sector lender ICICI Bank has hiked interest rates on wholesale term deposits by 15 basis points (bps) on Thursday, said media reports.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Hindustan Zinc Ltd.
The Stock has formed a bearish piercing or dark cloud cover on the daily charts. The RSI is also taken resistance at 60% and moved below. The stock can be shorted with the stop loss of 171 for the target of 165.8-163.1-161.15-159.25
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