28 May 2017 | 8:40 PM
Research Report
Daily

Equity Research Report: Religare Morning Digest

We suggest traders don’t give much weightage to intraday bounce and wait for Nifty to sustain above 7200 for reversal confirmation.
01 Mar 2016 | 07:00 AM

    Religare Morning Digest – Highlights for today
 
Market Outlook for the day -We suggest traders don’t give much weightage to intraday bounce and wait for Nifty to sustain above 7200 for reversal confirmation.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 23400 23210 23002.00 22750 22600
NIFTY 7120 7050 6987.05 6900 6850
NIFTYBANK 14400 14175 13946.40 13750 13600
NIFTYIT 10580 10450 10278.40 10150 10000
News -
  • Finance Minister Arun Jaitley presented his third Budget, wherein; he stressed on Indian economy's resilience amidst the current global economic turmoil. Government has given 3.5% fiscal deficit target Inspite of global and domestic headwinds. This depicts the government is optimistic on the domestic economic condition. Another positive is that the Finance Minister has not hiked the service tax. But GST is being fully ignored here, which is not so impressive. STT on options is to be raised to 0.05% from 0.017%.
  • Relief to small tax payers: The government raises the ceiling of tax rebate under section 87A from Rs 2000 to Rs 5000 to lessen tax burden on individuals with income up to Rs 5 lakhs. Increase the limit of deduction of rent paid under section 80GG from Rs 24000 per annum to Rs 60000, to provide relief to those who live in rented houses.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
INDUSINDBK BUY 830 822-826 798 880 3-5 Days
CAIRN SELL MARCH FUT 117.75 121-122 126 112 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
VEDL BUY 70 PE 4.25 3.50-3.80 2 8 3-5 Days
 
Fundamental Picks for delivery (9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
SMLISUZU BUY 667.10 869.00 1150
JYOTHYLAB BUY 254.90 272.40 330
SUPREMEIND BUY 670.15 699.30 840
Note – For our running recommendations and past performance, please click here
Research Disclaimer