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08 Dec 2016 | 2:31 AM
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Equity Research Report: Religare Morning Digest

Tuesday's fall has once again turned the sentiments bearish, volatility is expected to remain on the higher side in the coming trading sessions.
04 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day -Tuesday's fall has once again turned the sentiments bearish, volatility is expected to remain on the higher side in the coming trading sessions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18570 18410 18234.66 18100 17820
NIFTY 5450 5400 5341.45 5300 5200
BANK NIFTY 8900 8760 8664.20 8500 8360
CNXIT 8380 8300 8259.40 8190 8100
 
Corporate News

Tech Mahindra touched 52 week high on BSE after the Reserve bank allowed the company to raise the purchasing limit of shares by foreign institutional investors in the company by up to 35% of the paid up capital.

Torrent Power will directly buy natural gas from Petronet LNG to feed its station.

Economy News

Standard & Poor considers chances of a credit ratings downgrade for India higher than for Indonesia. S&P has a "BBB-minus" rating on India with a "negative" outlook. A downgrade would push Asia's third largest economy to "junk" status. S&P rates Indonesia at "BB-plus."

The rupee further breaches to 68 against the dollar on persistent capital outflows and heavy dollar demand from banks and oil importers.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
IRB SELL FUT 60.65 61-62 64 55 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HCLTECH SELL SEP FUT 1029 1042-1046 1065 995 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 slumped on geopolitical concerns after the Russian defence ministry was quoted by a news agency as saying it had detected two ballistic objects fired towards the eastern Mediterranean. On domestic front, a sharp slide in rupee against the dollar also spoiled sentiment. Bank stocks tumbled. Realty and Pharma stocks edged lower. All 13 BSE sectoral indices closed in red. Index heavyweights, Reliance Industries and ITC, both, slumped. The market breadth, indicating the overall health of the market, was weak.
 
Regenerate OTP
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