Nifty opened with a gap down of 8 points at 8119 and made a high of 8151. The market tested the support of 8080 as it made low of 8065 and bounced back to close above 8100. On the daily charts the market has formed a doji which indicates indecision. After the volatile move of past couple of days the market is taking a breather. The market is likely to stay sideways with positive bias as long as 8060 is not broken down.
The support for nifty is at 8060-8015-7960 and the resistance lies at 8145-8195-8240. Nifty January Future
has been trading at 39-40 points premium to the spot. The implied volatility on
the Nifty January Options of ATM strike calls were at 17.08 and for puts were at 17.01. India VIX closed at 18.14.
PCR for Nifty based on open interest was at 0.92 and PCR for the day based on
volumes was at 0.9 for the market.
CASH MARKET:
FII 3290.56 - 4363.74 = -1073.18Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1475.33 | 1692.25 | -216.92 |
| INDEX OPTIONS | 22924.09 | 22530.13 | 393.96 |
| STOCK FUTURES | 2403.28 | 2596.11 | -192.83 |
| STOCK OPTIONS | 1922.79 | 1904.18 | 18.61 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Berger Paints (I) Limited | Face Value Split (Sub-Division) - From Rs 2/- Per Share To Re 1/- Per Share | 8-Jan-15 | 9-Jan-15 |
| Electrosteel Steels Limited | E-Voting | 8-Jan-15 | 9-Jan-15 |
STOCKS IN NEWS:**
Suzlon Energy Ltd: Suzlon Energy Ltd said a media report on Wednesday that the wind turbine maker was in talks with potential buyers for an about $2.5 billion sale of its German unit was "baseless and false".
Coal India Ltd: Over 75 per cent of India's daily coal output has been hit as the five-day strike by workers of state-run miners entered the second day today, raising fears of disruption in power supplies.
Yes Bank Ltd: Private sector Yes Bank will raise around Rs 5,500 crore in the next 12 months, its MD and CEO Rana Kapoor said today.
Tata Chemicals Ltd: Fertiliser to salt manufacturer, Tata Chemicals plans to enter the essential need products segment of Indian household from spices to staples in the year ahead. It is, however, not looking at readyto-eat segments like snacks.
Wipro Ltd: Wipro has won a $400 million, multi-year IT infrastructure management contract from Swiss engineering giant ABB, making it the largest deal for the technology company since the $1.2-billion contract it received from Canadian utility ATCO last July.
SpiceJet Ltd: Low-cost carrier SpiceJet has for the second time delayed salaries to its staff in December, even as it waits for a life-saving fund infusion.
HDFC Bank Ltd: HDFC Bank has appointed Bank of America-Merrill Lynch as the lead banker for its sale of shares to raise as much as Rs 10,000 crore from domestic and foreign investors, two people with direct knowledge of the matter said.
DLF Ltd: Real estate major DLF today filed a fresh undertaking in the Supreme Court saying it be allowed to deposit balance Rs 480 crore of total Rs 630 crore fine imposed on it by the Competition Commission of India (CCI) in six monthly installments starting from January 15.
PFC & REC: The government plans to sell shares in state-owned Power Finance Corp (PFC) and Rural Electrification Corp (REC) in the third week of January to raise about Rs 3,000 crore, two people familiar with the development said, signaling the administration's intent to get a move on with its record asset-disposal plan with less than three months left in the fiscal year.
STOCKS IN BAN PERIOD:
NIL
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
LUPIN
The stock has given break down of an Inverted Cup & Handle Pattern on the daily charts with good volume. The pattern target lies at 1300 with the stop loss of 1420. For short term sell the stock at cmp & on rise to 1385 with stoploss of 1400 on closing basis for the target of 1355-1335-1310
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