Nifty Morning Outlook on 20-11-2014 Nifty future opening expected to be flat in the range of 8400 – 8410 ahead of flat Global markets. Nifty: According to Pivot points table support for Nifty Future prices at 8373 and 8337 level. 8457 and 8505 found resistance to the nifty future. Bank Nifty: According to Pivot points table support for Bank Nifty Future prices at 17569 and 17502 levels. 17740 and 17844 found resistance to the Banks nifty. USDINR Movement: On 19th November USD/INR closed positive at 62.05 (+0.22 or +0.36%) on NSE. Trade Statistics on 19-11-2014: The turnover of cash and F&O in NSE is Rs 18,439.57 crs and Rs 2,25,092.17 crs respectively FII and DII activities in cash segment: On 19-11-2014 FII net bought equities worth Rs 71.8 crs While DII net sold worth Rs -491.26 crs Stocks to watch: ONGC - ONGC Videsh bids for Oil & Gas block in New Zealand SBI - SBI - Stock split from Rs 10 to Re 1 Addition in F&O from 28th Nov Amtek Auto, Bosch, EIL, Indiabulls Housing Finance, Strides and Wockhardt Technical Cues: - Nifty Future Hourly chart is showing Divergence between RSI and MACD. If prices does not give closing below 8388 on hourly basis, bounce back up to 8460 level can be expected in Intraday trade. - Justdial stock is consolidating near its 200 DMA for the past 3 weeks, breakout above 1545 can give boost up to 1610 level. Major Economical Events: Govt issues draft guidelines for coal auction, says blocks only for end-users The Coal Minstry on Tuesday released draft guidelines for allocation of 74 coal blocks. The Centre government plans to conduct two-stage bidding under the Coal Mines Special Provisions Ordinance. Qualified bidder in stage one would be asked to put in financial bid under an electronic auctioning process. The bidding would be open to specified end use projects in power, steel and iron, and cement sectors. The tender documents, which are to be issued later. would specify the technical and financial qualification of participants in the auction. The Ministry of Coal today made public a set of draft rules under the ordinance. Under the rules, the Centre plans to allow a successful bidder of coal mines to use coal from the mine allocated to it for any its other plant after prior intimation the government. The rules also leave room for mines notified by the central government and figuring in Schedule 1 of the ordinance for allotment directly to power companies, which have bagged projects through competitive tariff route. In the event that the successful allocatee is not the same as the prior allottee then the prior allottee would be entitled to compensation. Such compensation would be determined by the nominated authority, which has already been constituted by the ministry of coal. The compensation would be based on the written down value of the mine infrastructure in the statutory balance sheets of the company. Employees’ dues, payment to secured creditors and all revenue payment to the government would be given priority for disbursal of proceeds.
Posted on: Thu, 20 Nov 2014 03:23:26 +0000
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