Nifty opened with a gap up of 23 points at 8023 and made a high of 8837. The market stayed sideways for the first half of the trading session in the range of 8780-8830. The RBI did not cut rates any further as expected. However the unclear stance of the RBI on future rate cuts made the market numerous and it fell to 8726 low. The bearish candle on the daily charts indicates more down side in coming future. On smaller hourly timeframe Nifty has broken down a Head & Shoulders pattern. The price target lies at 8555 with the stop loss of 8845. Any rise should be sold into with the stop loss of 8830 for the targets of 8700-8630. For the day the market is likely to be sideways with negative bias.
The support for nifty is at 8724-8675-8620 and the resistance lies at 8784-8835-8880. Nifty February Future
has been trading at 53-54 points premium to the spot. The implied volatility on
the Nifty February Options of ATM strike calls were at 19.74 and for puts were at 18.61. India VIX closed at 19.8075.
PCR for Nifty based on open interest was at 0.80 and PCR for the day based on
volumes was at 0.78 for the market.
CASH MARKET:
FII 5723.76 - 5988.11 = -264.35Cr.
FII DERIVATIVES MARKET:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 1226.93 | 1701.13 | -474.20 |
| INDEX OPTIONS | 16649.67 | 15970.57 | 679.09 |
| STOCK FUTURES | 3248.43 | 4798.18 | -1549.75 |
| STOCK OPTIONS | 2058.40 | 2065.23 | -6.83 |
CORPORATE ACTION:
| Company | Purpose | Ex-Date | Record Date |
| Orient Cement Limited | Interim Dividend - Re 0.75/- Per Share | 4-Feb-15 | 5-Feb-15 |
| HCL Technologies Limited | Interim Dividend | 4-Feb-15 | 5-Feb-15 |
| Aarti Drugs Limited | Second Interim Dividend | 4-Feb-15 | 5-Feb-15 |
| Edelweiss Financial Services Limited | Interim Dividend - Re 0.80/- Per Share | 4-Feb-15 | 5-Feb-15 |
| NTPC Limited | Interim Dividend | 4-Feb-15 | 5-Feb-15 |
| Sun TV Network Limited | Interim Dividend | 4-Feb-15 | 5-Feb-15 |
| MRF Limited | Annual General Meeting / Final Dividend - Rs 44/- Per Share | 4-Feb-15 | - |
STOCKS IN NEWS:**
IOC, HPCL, BPCL: Petrol price was today cut by Rs 2.42 per litre and diesel by Rs 2.25 a litre in step with fall in international oil prices.
RIL: BP Plc has written down the value of its investment in eastern offshore KG-D6 block by $790 million besides another USD 830 million in impairment charges, following lower-than-expected gas price hike.
Hero MotoCorp Ltd: Hero MotorCorp, India's largest two-wheeler maker by volumes, on Tuesday reported a lower-than-expected quarterly profit as promotional costs in new international markets and employee expenses jumped with the start of its fourth plant.
Torrent Pharmaceuticals Ltd: The pharma major proposed to double its borrowing limit to Rs 10,000 crore. The company would seek approval from its shareholders through a postal ballot for the same, it said in a filing to the BSE.
JSPL: Steel maker JSPL has cut over 750 jobs as the company reported Rs 1,675 crore consolidated loss for the third quarter ended December, 2014 mainly due to payment of the Supreme Court imposed penalty on coal block allocation scam.
TVS Motor Company Ltd: The two-wheeler maker posted 31.07 per cent increase in net profit at Rs 90.18 crore for the quarter ended December 31, 2014, on account of robust sales in the domestic market.
Shree Ganesh: Lenders to Kolkata-based Shree Ganesh Jewellery House have rejected its debt restructure proposal, the company has informed the stock exchanges on Tuesday.
SpiceJet Ltd: SpiceJet said it has filed an application with the Civil Aviation Ministry seeking security clearance for Ajay Singh to be appointed as a director of the carrier.
Adani Power and Reliance Power: Adani Power and GMR Energy bid for all six coal blocks reserved for the power sector, while Essar Power is eyeing four of such coal mines. Jindal Power submitted bids for three of the six coalmines, while Reliance Power is in race for two coal blocks.
STOCKS IN BAN PERIOD:
IBREALEST
Source:**economictimes.com , nseindia.com
STOCK OF THE DAY:
UCO BANK: SELL
The stock has been consolidating in the form of a falling wedge for past 3 months. It has given break down of this pattern with good volumes on line charts. The RSI has also moved well below the support of 40%. The pattern target lies at 60.7 with the stop loss at 77. The stock can be sold at cmp & on rise till 75 for the targets of 69.85-65.55-62.88 with the stop loss of 75.6 on closing basis.
The stock has been consolidating in the form of a falling wedge for past 3 months. It has given break down of this pattern with good volumes on line charts. The RSI has also moved well below the support of 40%. The pattern target lies at 60.7 with the stop loss at 77. The stock can be sold at cmp & on rise till 75 for the targets of 69.85-65.55-62.88 with the stop loss of 75.6 on closing basis.
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