Derivative

Derivative settlement would play major role in truncated Week
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Nifty(6274) Has gained 3% for the settlement while stocks have done much better AUROPHARMA+29%, ORIENTBANK+22% HCLTECH+16% WIPRO+16%, TATAPOWER+16% SSLT+15% and

AXISBANK+14% are stocks which can see good short covering move.

While underperformance can be from ULTRACEMCO -8%, NTPC -8%, TATAMOTORS -6% PETRONET -6% and IOB -6%. Indian Bull Market

From August 2013 lows Index has gained around 15% while many stocks have given 50-100% returns while most of these stocks have corrected from November 2010 almost 33-34months before recovery Mostly from Metals, Capital goods, PSU, PSUBANK, Power and Infrastructure. TATASTEEL, SAIL, VOLTAS, JSWSTEEL, TVSMOTORS ADANIENT, AUROPHARMA, L&T, SIEMENS, BHEL to name few well know names and it doesn’t matter if Nifty is  7000 or 5500 which is hardly 10% move either side.

Buy good quality stocks like M&M, MARUTI, INFY, L&T, SIEMENS, BHEL, WIPRO, ICICIBANK, GRASIM, TATASTEEL, HINDALCO, CADILA and still in next 12-15month can give good safe returns in my view in year 2014, there will always be bad news or correction when one can enter these stocks.
Chart of the day--- ORIENTBANK Cmp Rs.220 Stop Rs.208 Target Rs.246 & 257 Market cap-Rs.6421crs Trailing EPS-Rs.42 Book Value-423 NIM-2.87% while Dividend yield 4.07% Branches 2059.

In my view Indian Bull market started in August 2013 where Nifty has gained 14% while ORIENTBANK has gained 73% and this Quarter alone 52% till now and this settlement 22% and if Rs.208 is held then short squeeze would support the stock and technically also stock looks very good to target Rs.246 & 257. Stock has been holding above 200DMA Rs.202 in last 11 trading days and crossing recent high Rs.237 could move the stock faster.