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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Considering vertical rise from bottom, we may see index trading sideways in next trading session but the bias would remain on positive side.
02 Jul 2013 | 07:00 AM

July 02, 2013
Religare Retail Research  
Religare Morning Digest
    Highlights for Today
Market Outlook for the day - Considering vertical rise from bottom, we may see index trading sideways in next trading session but the bias would remain on positive side.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19760 19670 19577.39 19400 19250
NIFTY 5960 5930 5898.85 5840 5790
BANK NIFTY 12000 11870 11714.90 11630 11520
CNXIT 6605 6580 6526.45 6500 6440
 
Corporate News

Hero MotoCorp Ltd is acquiring 49.2% equity in US-based Erik Buell Racing (EBR) for $25 million. The two companies would promote selling and marketing of EBR and Hero MotoCorp products in the Western Countries, namely North America and Europe.

Mahindra & Mahindra (M&M) June vehicle sales fell 7.8% to 38,092 units compared with 41,322 units sold during the same month a year-ago.

Trading of Mahindra Satyam scrip (erstwhile Satyam Computer Services Ltd), which merged into Tech Mahindra last month is likely to end from July 4.

L&T Construction has secured new orders valued Rs 3,057 crore in June. L&T said that the bulk of the orders Rs 1,808 crore was won by the building and factories business.

Maruti Suzuki India has reported that it sold 84,455 units in June versus 96,597 units in the same month of last year, representing a drop of 12.6 per cent year on year.

TVS Motor Co has sold 1,64,128 vehicles in June, a 2.7% fall, compared with 1,68,693 units sold during the month a year ago.

Economy News

The HSBC Manufacturing Purchasing Managers' Index (PMI), edged up to 50.3 in June from 50.1 in May. Manufacturing activity was broadly flat in June. Output continued to contract due to power shortages, albeit less so than last month. While export orders came in at a faster pace last month, domestic demand took a hit from the faltering economy.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AUROPHARMA BUY 186.9 182-183 178 196 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
UNIONBANK BUY JULY FUT 193.6 190-191 186 202 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
 
Key benchmark indices scaled intraday high in late trade as European markets reversed intraday losses. The market sentiment was boosted by the data showing that foreign fund turned net buyers of Indian stocks on Friday. Auto stocks rose across the board. Indian factory activity remained weak in June as output contracted for the second month running and order books shrank for the first time in over four years.
 
 
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