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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Nifty trend reverses to up and buying momentum is expected to continue.
01 Jul 2013 | 07:00 AM

July 01, 2013
Religare Retail Research  
Religare Morning Digest
    Highlights for Today
Market Outlook for the day - Nifty trend reverses to up and buying momentum is expected to continue.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19680 19450 19395.81 19300 19180
NIFTY 5900 5870 5842.20 5790 5750
BANK NIFTY 11810 11740 11617.25 11540 11420
CNXIT 6760 6670 6634.15 6590 6520
 
Corporate News

The Government will divest its 7.64% stake in National Fertilisers Ltd to make the public sector unit compliant with SEBI norms on public shareholding.

Amtek Auto acquired 51.27% stake in JMT Auto for about Rs 110 crore.

The government has cleared the proposal of private sector lender YES Bank to raise Rs 2,650 crore through qualified institutional placement (QIP) from overseas.

McNally Bharat Engineering Ltd received an order worth Rs 265 crore from National Buildings Construction Corporation Ltd for the construction of housing units at NTPC Ltd’s Pakri project in Hazaribag district of Jharkhand.

Suven Life Sciences Ltd has obtained one product patent each from Japan and the US for its new chemical entities (NCEs).

NTPC has tied up with German entity KfW for a fixed interest term loan facility of about Rs 738 crore.

Economy News

On 28 June 2013, the Union Cabinet has approved the proposal for setting up of an independent regulatory authority for the coal sector and also approved the introduction of the Coal Regulatory Authority Bill, 2013 in the Parliament.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
KPIT BUY 122 119 - 121 117 133 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PNB BUY FUT 655.00 650 - 652 639 679 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps ACC, Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ
Midcaps & Small Caps GCPL, Bata India, Shriram Transport Finance,
M&M Financial Services,  Havells India, Bajaj Corp Ltd, LIC housing, Yes Bank
Note – For our running recommendations and past performance, please click here
    Market Roundup
 
The domestic indices paired gains after striking a fresh intraday high in the late trade. Union Cabinet has approved the proposal for setting up of an independent regulatory authority for the coal sector and also approved the introduction of the Coal Regulatory Authority Bill, 2013 in the Parliament, with this news the Coal India and the companies from the coal consuming sectors like power, cement and metals also edged higher. The industry giants viz; ONGC and Reliance Industries also witnessed a significant rally after the government's decision to revise gas pricing to the one based on global trade transactions of gas.
 
 
 
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