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10 Dec 2016 | 6:54 PM
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Equity Research Report: Religare Morning Digest

Nifty is inching higher and possibility of profit taking is quite high in near future. Traders should uphold positive yet cautious approach and keep the trading portfolio balanced or add defensives like FMCG and Pharma.
02 Dec 2015 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day - Nifty is inching higher and possibility of profit taking is quite high in near future. Traders should uphold positive yet cautious approach and keep the trading portfolio balanced or add defensives like FMCG and Pharma.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 26460 26300 26169.41 25975 25840
NIFTY 8050 8000 7954.90 7890 7845
BANKNIFTY 17750 17600 17398.55 17250 17095
CNX-IT 11465 11350 11256.30 11160 11030
News -
  • The Reserve Bank of India (RBI) kept its benchmark interest rate viz. the repo rate unchanged at 6.75% after a monetary policy review. The central bank also kept the cash reserve ratio (CRR) for commercial banks unchanged at 4% of net demand and time liability (NDTL).
  • According to the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) manufacturing activity in the country fell to a 25-month low of 50.3 in November against 50.7 in October.
  • Mahindra & Mahindra's (M&M) total auto sales rose 21% to 41,590 units in November 2015 over November 2014. Domestic auto sales rose 23% to 39,383 units in November 2015 over November 2014.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
MINDTREE BUY 1485.10 1480-1486 1450 1550 3-5 Days
BHARATFORG SELL FUTS 853 858-860 876 825 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
HAVELLS BUY 300 CE 10.10 9-9.50 6 15 3-5 Days
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
FIEMIND BUY 716.95 652 760
Note – For our running recommendations and past performance, please click here
Research Disclaimer
 
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