Nifty Daily For 25th June 2014

                   Nifty opened with a gap up of 22 points at 7515 and made a high of 7593. As mentioned in the Daily Report of Tuesday, the market went up towards the 7550 levels. The market moved with the steady pace towards the resistance of 7600 during the entire session. The war cooling news from Middle East led to drop in crude prices. This boosted the markets further. I expect the market to trade in a range with negative bias for the day. The Resistance of 7590 is crucial for market to move towards the 7660 level. As long as this resistance not taken out, the market will trade in 7490-7590 range.

                    The support for nifty is at 7545-7513-7460 and the resistance lies at 7600-7645-7700. Nifty June Future has been trading at 11-12 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 16.78 and for puts were at 13.77. India VIX closed at 19.1875. PCR for Nifty based on open interest was at 0.97 and PCR for the day based on volumes was at 0.93 for the market.

CASH MARKET:

FII                   3817.74  -   3533.13   =  284.61Cr.

DII                  1550.52   -   1766.69  =   -216.17 Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	8105.34	7481.77	623.57
INDEX OPTIONS	17441.77	17110.95	330.81
STOCK FUTURES	15190.86	15470.40	-279.53
STOCK OPTIONS	2503.63	2662.60	-158.98

CORPORATE ACTION:

Company	Purpose	Ex-Date
Shriram Transport Finance Company Limited	Annual General Meeting / Final Dividend - Rs 4/- Per Share	25-Jun-14
JM Financial Limited	Final Dividend - Re 0.55/- Per Share	25-Jun-14
Kesar Terminals & Infrastructure Limited	Annual General Meeting / Final Dividend - Rs 1.50/- Per Share	25-Jun-14
Alstom T&D India Limited	Annual General Meeting / Dividend - Rs 1.80/- Per Share	25-Jun-14
Swelect Energy Systems Limited	Annual General Meeting / Dividend - Re. 9/- Per Equity Share	25-Jun-14

STOCKS IN NEWS:**

Tata Steel Ltd: There was trouble again at Tata Steel's Greenfield plant at Kalinganagar, in Jajpur district on Monday leading to at least 17 people being injured.

Idea Cellular Ltd: Idea Cellular Tuesday introduced 'No Bill Shock Combo Plan' for its post paid subscribers across four service areas, allowing users to cap usage-linked expenses.

Parsvnath Developers Ltd: The Company expects to raise more than Rs 1000 crore ($167.5 million) over the next 18 months through the sale or joint development of its land assets in southern and western India, the company's chairman said.

TTK Prestige Ltd: Bangalore-based TTK Prestige is betting big on its newly launched low cost water purifier range as it eyes an overall revenue growth of around 15 per cent in the ongoing fiscal.

DLF Ltd: Fair trade regulator CCI has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.

Reliance Infrastructure Ltd: The Bombay High Court has dismissed the petition filed by the Mumbai Metropolitan Region Development Authority (MMRDA) challenging the fare hike of Mumbai Metro by Reliance Infra for the Mumbai Metro rail.

IRB Infrastructure, GMR Infrastructure: In a boost to the infrastructure sector, Ministry of Road Transport and Highways has approved worth over Rs 40,000 crore of highway projects to be implemented in the next couple of years. These projects are in the states of Jammu & Kashmir, Himachal Pradesh, Uttarakhand and the Northeastern region.

EIL: Engineers India Limited (EIL) has been conferred Navratna status by the Union government. The upgraded status will provide the company with enhanced operational and financial autonomy to work in domestic and overseas markets.

Indian Hotels Company: The country's biggest hotel chain, will issue nine compulsorily convertible debenture (CCD) for every 40 equity shares to raise up to Rs 1,000 crore.

STOCKS IN BAN PERIOD:

GMRINFRA
HDIL
IBREALEST
JPASSOCIAT

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Indian Hotel Company
The Stock is in a strong bull trend and has broken out of the small consolidation on the daily charts. The stock can be bought for the stop loss of 103.35 closing basis for the target of 107.25-109.35-111.75

Nifty Daily For 24th June 2014

                   Nifty opened flat at 7414 and made a high of 7535. Once the high was made the market went down and traded below the 7500 support level. Once the market tested the support of 7430 it bounced back sharply towards the 7500 level. The market is expected to move towards the 7550 levels. The RSI has also moved up from the support of the 40% levels on the intraday charts. There was huge call buying in the 7500CE, indicating a strong support once the market moves above the 7500 level.

                    The support for nifty is at 7466-7419-7375 and the resistance lies at 7513-7549-7600. Nifty June Future has been trading at 14-15 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 16.1 and for puts were at 13.6. India VIX closed at 18.9625. PCR for Nifty based on open interest was at 0.83 and PCR for the day based on volumes was at 0.8 for the market.

CASH MARKET:

FII                   2764.53  -   2979.02  =   -214.49Cr.

DII                  1655.84  -   1538.41   =  117.43Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	3028.37	3043.65	-15.28
INDEX OPTIONS	16520.97	16237.51	283.46
STOCK FUTURES	16487.17	16944.61	-457.44
STOCK OPTIONS	2367.38	2522.07	-154.69

CORPORATE ACTION:

Company	Purpose	Ex-Date
Tata Sponge Iron Limited	Annual General Meeting / Dividend - Rs 10/- Per Share	24-Jun-14
Hinduja Global Solutions Limited	Annual General Meeting / Final Dividend - Rs 10/- Per Share	24-Jun-14
UCO Bank	Annual General Meeting / Final Dividend - Re 1/- Per Share	24-Jun-14

STOCKS IN NEWS:**

 Bharti Airtel: The telecom major said on Monday that it has signed a definitive agreement with Loop mobile to take over the Mumbai operator's telecom network. The two companies had announced the initial deal in February.

Havells India Ltd: Electrical goods manufacturer Havells India is planning sub-division of its equity shares for which it will seek board approval next week. The company however did not elaborate on the plans. When contacted, Havells spokesperson declined to comment.

SAIL: State-owned SAIL is likely to exit the Rs. 35,000-crore revival project of the Sindri fertiliser plant in Jharkhand due to inordinate delay in land acquisition.

Power Grid Ltd: Central transmission utility Power Grid Corporation approved investments of Rs 5,500 crore for upgrading networks in about 4 years. The commissioning schedule of the transmission project is 45 months from the date of investment approval, it said.

Bajaj Hindustan Ltd: Bajaj Hindusthan, India's largest sugar firm, said it has paid nearly $18 million, including a premium, to redeem foreign currency bonds issued to International Finance Corporation (IFC).

United Bank of India: United Bank of India is planning to raise up to Rs 1,600 crore to boost capital and grow lending. The Kolkata-based lender has a modest capital adequacy ratio of 9.8% against the bare minimum of 9% and thus, it needs to bring in capital to improve the critical ratio.
Reliance Industries Ltd: A decision on increase in natural gas prices is expected in the next few days even as meetings between oil minister Dharmendra Pradhan, finance minister Arun Jaitley and top officials in the Prime Minister's Office (PMO) continued on Monday.

Infosys Ltd: Infosys' newly appointed chief executive Vishal Sikka could look at setting up a corporate venture arm, which will tap into new ideas that can be fed back into the parent company as the Bangalore-based software exporter tries to fill the missing innovation strand.
Sugar related stocks will remain in focus as sugar prices rose to a six-month high after the Centre promised higher import protection and offered other sops to the industry in return of an assurance that mills will release cane farmers' dues of Rs 11,000 crore.

Tata Steel Ltd: Tata Steel, India's largest and the oldest steelmaker, is undergoing an internal transition as several senior managers are reaching their retirement age, leaving the company in the hands of a younger generation.

STOCKS IN BAN PERIOD:

GMRINFRA
HDIL
IBREALEST
JPASSOCIAT

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

Infosys

The stock has formed a Evening Star on the daily charts near the strong resistance of 200 DMA. The stock is expected to move down towards the 3035 level. The stock can be shorted with the stop loss of 3266 on closing basis for the target of 3163-3109-3055 for the period of 3-4 days.

Weekly Nifty For 23rd-27th June 2014

            The market has been poised on the verge of correction for the past week, but the correction was nowhere to be seen. For the most days the market stayed in the range of 7650-7500. The market looks like it has entered in time correction mode. This week the market filled the bullish rising gap at 7480-7500 and bounced back sharply. A breach of this support zone will indicate the much awaited price correction.
             Nifty opened the week at 7534, made a high of 7663, low of 7487 and closed the week at 7511. Thus the Nifty closed the week with a loss of 31 points. On Friday, Nifty has formed a small black body candle in sideways consolidation phase. On the weekly chart it has formed a small black body candle with long upper shadow. The long upper shadow indicates selling pressure at higher levels. On the weekly charts last three weeks have formed a pattern which is on the lines of Mat Hold but the key remains the formations in the coming two weeks. Thus daily as well as weekly formations point towards consolidation in the near term.
              While moving higher the market had left behind two Bullish Rising Gaps out of which the first between 7497-7484 was filled this week & acted as a strong Support by supporting the market for the entire last week. This gap coincided by the 38.2% Retracement of the immediate Correction levels of 7118-7700 move. The short term average of 20dma at 7473. These together form a very strong support. A breach of this zone will intensify the price correction for the market and test of the second Bullish Rising Gap between 7067-7020, will become inevitable. This is a stronger Support zone as it coincides with 61.8% Retracement level (7044) of the Nifty move from 6638 - 7705. Current intermediate rally will derail if this Rising Gap gets breached.
             When the market overcame the previous top and made fresh lifetime highs, it marked the end of six year consolidation. On the weekly charts Nifty has completed a Bullish Saucer formation and the targets as per that will fall at 8145 which are likely to be achieved within a period of next 20 months.
             Nifty is above the short term average of 20dma (7473), the medium term average of 50dma (7131) and the long term average of 200dma (6410). Thus the trend in the short term, medium term and the long term timeframe continues to remain bullish.
             RSI has reduced to 58 suggesting a reduction in bullish momentum. Besides it also exhibits negative divergence of the first order. Stochastic Oscillator continues in Sell mode as %K is below %D. MFI has reduced to 55, suggesting that the money inflow has reduced. OBV has started moving lower but is yet to give a Sell signal. The Directional Indicators continue in Buy mode as +DI is above –DI. Bollinger Band continues with its Buy signal given last month. ADX is now at a level of 52 which suggests that the strength of the current uptrend is very high but the trend is now maturing. MACD continues with its Sell signal despite being positive. Hence Oscillator analysis suggests remaining cautious as some correction in the current uptrend can be expected.
             India VIX, has started to move higher from the lows of 13.74 and is now around 19. A breakout above the 20 level will take the index towards the 27 level. Highest Put writing is seen at the strike of 7500 and highest Call writing is at the strike of 7700. Thus one can expect a range of the market between 7500 and 7700. On Friday, there was strong buildup in the strike of 7550 for both Calls and Puts, which suggests that the Option writers or the Strategy makers are creating Short Straddle strategy to take benefit of the remaining Time Value. This means that they expect the market to continue to be range bound till expiry.

Stock of the Week:
Canara Bank
 

The Stock has been consolidating in a rising channel for past one month. It has broken down the crucial support of the lower trendline on the daily charts. The pattern target lies at 347 with the stop loss of 463. For the short term the stock can be sold at 422.5 with the stop loss of 437 for the target of 412-404-390.

Nifty Daily For 20th June 2014

                   Nifty opened with a gap up of 21 points at 5780 and made a high of 7606. The market had tested the upper level of trading range 7490-7690 on Wednesday. The market yesterday tested the resistance of 7602 and fell to the lows of 7502. The market is likely to stay put in this range. Today market is expected to move up to sideways,  the lower level being tested yesterday. The 7500 is a crucial support, as long as it holds market will go up.

                    The support for nifty is at and the resistance lies at. Nifty June Future has been trading at 17 points premium to the spot. The implied volatility on the Nifty June Options of ATM strike calls were at 17.03 and for puts were at 15.84. India VIX closed at 18.7425. PCR for Nifty based on open interest was at 0.98 and PCR for the day based on volumes was at 0.92 for the market.

CASH MARKET:

FII                   3982.66  -   4403.17  =   -420.51Cr.

DII                  1213.19  -   1331   =  -117.81Cr.

FII DERIVATIVES MARKET: 

In Cr.	Buy	Sell	Net
INDEX FUTURES	2264.46	2725.13	-460.67
INDEX OPTIONS	19610.24	18314.16	1296.09
STOCK FUTURES	3727.39	3543.85	183.54
STOCK OPTIONS	2902.39	2915.58	-13.20

CORPORATE ACTION:

Company	Purpose	Ex-Date	Record Date
Punjab National Bank	Annual General Meeting	20-Jun-14	-
Atul Limited	Annual General Meeting / Dividend Rs 7.50/- Per Share	20-Jun-14	-
Vijaya Bank	Annual General Meeting And Dividend Rs.1 Per Share	20-Jun-14	-
Sterling Biotech Limited	Annual General Meeting	20-Jun-14	-
Deepak Nitrite Limited	Bonus 1 : 1 / Face Value Split From Rs 10/- Each To Rs 2/- Each	20-Jun-14	23-Jun-14

STOCKS IN NEWS:**

Hindustan Zinc Ltd: Capital market regulator Sebi today allowed non-promoters of listed companies to tap the Offer for Sale (OFS) route, a move that paves the way for government to divest its residual stake in Hindustan Zinc Ltd.

Tata Motors Ltd: Tata Motors-owned Jaguar Land Rover has announced an investment of 200 million pounds at its Halewood plant in the UK to support introduction of its upcoming SUV Discovery Sport.

Cairn India Ltd: Cairn India Ltd has said it will invest $200 million over the next three years in developing natural gas finds in the largely oil-bearing Rajasthan block.

GMR Infrastructure Ltd: The GMR Group, which had to exit the Male airport project, today said a tribunal has declared the Maldivian government and the nation's airport agency "jointly and severally liable in damages" to the company for loss caused by the wrongful repudiation of the agreement.

Apollo Tyres Ltd: Apollo Tyres announced that the Committee of Directors (Preferential issue) at its meeting held on 19 June 2014 allotted 50 lakh equity shares of Re 1 each, to Classic Auto Tubes (a promoter group entity) @ Rs 86.20 per Equity Share (including Rs 85.20 towards share premium) against receipt of the full payment on exercise of option of conversion of 50 lakh warrants into equity shares in accordance with the terms and conditions of issue of warrants.

Orchid Chemicals Ltd: Orchid Chemicals & Pharmaceuticals Ltd has received approval from the US FDA for its ANDA (Abbreviated New Drug Application) for Eszopiclone Tablets 1mg, 2mg and 3mg strengths.

Indiabulls Real Estate Ltd: Indiabulls Real EstateBSE 0.22 % has paid £155 million (Rs 1,550 crore) for a commercial property in London's Mayfair, marking the third significant realty investment in London by an Indian realtor since November 2013.

UPL Ltd: UPL Ltd., formerly known as United Phosphorus Ltd., through its overseas subsidiary has completed the transaction to sell its entire stake of 50 percent in the Brazilian agrochemical company Sipcam UPL Brasil S.A. to Italian company Sipcam S.p.A, said media reports.

Oil India Ltd: Oil India Ltd, the second biggest state-run explorer in the country, signed an agreement with Russia's Gazprom on Thursday for joint pursuit of exploration opportunities across the globe.

Reliance Communications Ltd: The submarine cable unit of Reliance Communications (RCom), Global Cloud Xchange, formerly called Reliance Globalcom, will lay a new subsea cable connecting Mumbai and Singapore, the company said on Thursday.

STOCKS IN BAN PERIOD:

DISHTV
GMRINFRA
HDIL
IBREALEST
L&TFH
UNITECH

Source:**economictimes.com , nseindia.com

STOCK OF THE DAY:

UPL
The stock has been trading in the range of 290-321. It has given a break out on the daily charts. The RSI has also taken the support of 60% and bounced back from that level. The target of this pattern lies at 350 with stop loss of 312. For short term buy the stock with the stop loss of 318 closing basis for the target of 327-332-338.