Nifty opened with a gap down of 13 points at 8901 and made a high of 8966.65. The market stayed sideways for the entire trading session in the 8860-8900 range. The expiry however came near the lifetime high in the last half an hour trading. The market has to close above the rising trend line resistance at 8964 to move towards the 9030 target. As long as this is intact the market is expected to remain sideways. The market is expected to be sideways with negative bias for the day.
The support for nifty is at 8910-8860-8820 and the resistance lies at 8990-9030-9075. Nifty January Future
has been trading at 33-34 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 15.74 and for puts were at 19.88. India VIX closed at 19.4325.
PCR for Nifty based on open interest was at 1.00 and PCR for the day based on
volumes was at 0.98 for the market.
CASH MARKET:
FII 8753.64 - 7029.87 = 1723.77Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 9449.73 | 7582.25 | 1867.48 |
| INDEX OPTIONS | 25409.01 | 24228.38 | 1180.64 |
| STOCK FUTURES | 13609.61 | 14483.15 | -873.54 |
| STOCK OPTIONS | 924.75 | 841.79 | 82.97 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date |
| Automotive Axles Limited | Annual General Meeting / Final Dividend - Rs 2.50/- Per Share | 30-Jan-15 |
STOCKS IN NEWS:**
Coal India Ltd: The government has fixed a floor price of Rs 358 a share for its up to 10% stake sale in Coal India on Friday. This is a 4.6% discount to the closing price of Rs 375.15 for the company's shares on the Bombay Stock Exchange on Thursday.
Sesa Sterlite Ltd: Sesa Sterlite posted 11 per cent dip in consolidated profit after tax during the third quarter of the current fiscal at Rs 1,588 crore subdued oil prices lowered income.
Bharti Airtel: Bharti Airtel is applying for a payments bank licence and has roped in Kotak Mahindra Bank as a potential investor in the venture, in a bid to tap significant revenue opportunities from the Reserve Bank of India's financial inclusion initiative.
SKS Microfinance Ltd: SKS Microfinance reported nearly two-fold increase in net profit at Rs 41.1 crore for October-December quarter and also said it will seek licence from RBI for setting up a small finance bank.
Dr Reddy's Laboratories Ltd: Pharmaceuticals major Dr Reddy's Laboratories today reported a 7 per cent decline in its consolidated net profit at Rs 574.5 crore for the third quarter ended December 31, 2014 on account of impairments.
BHEL: Bharat Heavy Electricals Ltd has announced commissioning of 600 MW thermal power project in Odisha.
Tata Motors Ltd: Tata Motors, India's largest automobile company by revenues, plans to raise its capital expenditure by Rs 10,000 crore a year as it strives to make a strong comeback in the domestic market.
NTPC: The company has shortlisted power plants of GVK, Essar and Avantha out of 32 proposals it received from private electricity producers eager to sell stakes to the state-run behemoth, which is willing to invest as much as Rs 10,000 crore to acquire minority interest in stranded projects.
HCL Technologies Ltd: The IT major is expected to report 5.3% QoQ fall in net profit to Rs 1772.70 crore for the quarter ended December 31, as compared to Rs 1873 crore reported in the year-ago period.
Rico Auto Ltd: The board of Rico Auto Industries approved transfer of the company's investments held in three subsidiary firms to Rico Investments, another unit of the auto component manufacturing firm.
Ashok Leyland Ltd: Hinduja group flagship Ashok Leyland today posted a net profit of Rs 32.09 crore for the third quarter ended December 31, primarily on account of buying ahead of the excise duty hike.
HCC Ltd: Ajit Gulabchand-led HCC's net profit soared to Rs 27. 1 crore in the third quarter of 2014-15 from Rs 5.4 crore a year ago, driven primarily by receipt of payments from arbitration with its clients.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
Elder Pharma
the Stock has been falling since the high of 164 till the low to 118. On the daily charts the stock has formed a Bullish engulfing Marubuzo. This is extremely bullish. The Stock can be bought at cmp & on fall till 127 with the stop loss of 121 on closing basis for the target of 139.4-144.8-152.8-164.8
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