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Equity Research Report: Religare Morning Digest

Nifty is strongly placed on the daily chart and there are higher chances that the recent run-up will extend towards 5550-5600 levels in the near term.
02 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty is strongly placed on the daily chart and there are higher chances that the recent run-up will extend towards 5550-5600 levels in the near term.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19000 18770 18619.72 18470 18290
NIFTY 5600 5530 5471.80 5420 5360
BANK NIFTY 9320 9140 9049.20 8900 8780
CNXIT 8700 8500 8382.40 8240 8170
 
Corporate News

Eros International Media has acquired the worldwide distribution rights of the comedy film Grand Masti which releases on 13 September 2013.

Jindal Steel & Power Ltd board has approved the buyback of shares from existing shareholders other than the promoters at a price not exceeding Rs 261 per equity share.

Shasun Pharmaceuticals has successfully completed MHRA inspection during the third week of August 2013.

L&T has recently secured new orders worth Rs 807 crore.

Economy News

The fiscal deficit stood at Rs 3.40 lakh crore in April-July period, which was 62.8% of Rs 5.42 lakh crore pegged in the Budget.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
IDEA BUY 159.9 156-158 154 168 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TITAN BUY SEP FUT 225.3 220-222 214 235 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
 
A recovery in the rupee triggered by comments by Prime Minister Dr. Manmohan Singh in the parliament that the government isn't looking at imposing restrictions on the movement of capital out of the country triggered rally on the domestic bourses on the last trading session of the month. Intraday volatility on the bourses was quite high as the Sensex alternately swung between positive and negative zone. The BSE Mid-Cap index fell 0.01% on the flip side the Small-Cap index rose 0.2%.
 
 
Regenerate OTP
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