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03 Dec 2016 | 9:14 AM
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Equity Research Report: Religare Morning Digest

Outcome of RBI monetary policy, scheduled on 2nd Feb will decide market direction for coming sessions. Any positive surprise from the RBI governor would trigger the needed momentum in the banking and other rate sensitive sectors else consolidation will continue.
02 Feb 2016 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day -Outcome of RBI monetary policy, scheduled on 2nd Feb will decide market direction for coming sessions. Any positive surprise from the RBI governor would trigger the needed momentum in the banking and other rate sensitive sectors else consolidation will continue.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 25210 25040 24824.83 24650 24400
NIFTY 7675 7620 7555.95 7480 7400
NIFTYBANK 15760 15550 15314.45 15100 14900
NIFTYIT 11530 11420 11305.25 11200 11090
News -
  • The Nikkei India Manufacturing PMI, a composite monthly indicator of manufacturing performance, stood at 51.1 in January, up from 49.1 in December. The 50 mark separates growth from contraction..
  • M&M total auto sales rose 10% to 43,789 units in January 2016 over January 2015.
  • Maruti Suzuki's total sales slipped by 2.6% during January 2016 to 1,13,606 lakh units versus 1,16,606 units in the same month of 2015.
  • IPCA Laboratories Ltd said the US Food and Drug Administration issued it a warning letter outlining manufacturing quality lapses observed at three of its Indian factories.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TVTODAY BUY 301.85 295-298 285 325 3-5 Days
KTKBANK SELL FEB FUT 98.20 99-100 103 92 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
BANKNIFTY/NIFTY BUY BANKNIFTY FUTS 15363.25 15405 -160000 5000 3-5 Days
SELL NIFTY FUTS 7565.35 7567
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
NDL BUY 138.00 150 183
Note – For our running recommendations and past performance, please click here
Research Disclaimer
 
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