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Equity Research Report: Religare Morning Digest

We might see Nifty inching towards 8600-8650 levels first but sustainability seems difficult so we reiterate our advice to stick with stock specific trading approach.
03 Aug 2015 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day -We might see Nifty inching towards 8600-8650 levels first but sustainability seems difficult so we reiterate our advice to stick with stock specific trading approach.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 28450 28260 28114.56 27980 27840
NIFTY 8640 8580 8532.85 8490 8440
BANKNIFTY 19075 18900 18729.85 18570 18380
CNX-IT 11820 11700 11594.15 11480 11365
News -
  • ICICI Bank net profit rose 12.08% to Rs 2976.16 crore on 8.11% rise in total income to Rs 15802.45 crore in Q1 June 2015 over Q1 June 2014.
  • GlaxoSmithKline Pharmaceuticals net profit dropped 5.09% to Rs 93.28 crore on 4.8% drop in total income to Rs 668.19 crore in Q1 June 2015 over Q1 June 2014.
  • Titan Company net profit dropped 14.78% to Rs 151.06 crore on 6.6% drop in total income to Rs 2724.13 crore in Q1 June 2015 over Q1 June 2014.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ASIANPAINT BUY 882.80 878-75 855 920 3-5 Days
HINDZINC SELL AUG FUT 157.55 158-159 162.50 150 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
NIFTY BUY 8600 CE 108.80 105-107 40 135 3-5 Days
SELL 8800 CE 37.60 35-37
 
Master Pick (1-2 Months)
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target
CROMPGREAV BUY 183.70 179-184 169 218
To read complete report, please click here
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
DISHTV BUY 116.05 106.70 128
Note – For our running recommendations and past performance, please click here
Research Disclaimer