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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Bullish momentum is expected to continue till the index is sustaining above 6200 mark.
03 Dec 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Bullish momentum is expected to continue till the index is sustaining above 6200 mark.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21100 20970 20898.01 20720 20600
NIFTY 6280 6240 6217.85 6160 6120
BANK NIFTY 11500 11350 11284.35 11200 11050
CNXIT 8940 8890 8854.00 8820 8760
 
Corporate News

Apollo Tyres closed the deal with Sumitomo Rubber Industries (SRI), under which SRI would take over Apollo Tyres South Africa (ATSA), including the Ladysmith passenger car tyre plant and Dunlop brand rights in 32 countries of Africa, for $60 million.

State Bank of India plans to raise up to Rs 9576 crore through issue of equity shares to institutional investors or a follow-on public offer or any other mode.

L&T reported that the company is evaluating alternatives for monetization of certain assets of its subsidiary L&T Infrastructure Development Projects.

Maruti Suzuki India’s total sales declined 10.7% to 92,140 units in November 2013 over November 2012.

Idea Cellular’s board has approved increase in the aggregate investment limit of Foreign Institutional Investors from 24% to 49% of the paid-up equity capital of the company.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SIEMENS SELL FUT 613.5 616-618 633 580 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DLF BUY 150 CE & SELL 160 CE 4.5 - 2 9 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps

Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ

Midcaps & Small Caps

Amara raja batteries, 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
 
The markets gained on third consecutive trading day. On the economy front, the outcome of the HSBC survey showed that India's manufacturing activity returned to growth as a strong rise in orders pushed factories to step up production in the month just gone by. Shares of infrastructure companies rose after the Securities and Exchange Board of India (SEBI) on 29 November 2013, relaxed fundraising rules for infrastructure debt mutual funds in its continued bid to channel long-term capital to finance infrastructure projects in the country. Metal stocks also edged higher as manufacturing in China continued to grow last month.
Regenerate OTP
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