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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Keeping the Thursday's move in the mind, we may see further northward move in the near future but 6000 holds crucial resistance so plan accordingly.
04 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Keeping the Thursday's move in the mind, we may see further northward move in the near future but 6000 holds crucial resistance so plan accordingly.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20170 20000 19902.07 19780 19600
NIFTY 6000 5940 5909.70 5870 5810
BANK NIFTY 10400 10300 10222.95 10100 9930
CNXIT 8470 8400 8360.85 8320 8250
 
Corporate News

MCX has diluted its stake to 3.4% from the existing 5% in the Dubai Gold and Commodities Exchange (DGCX) through rights issue option. Multi Commodity Exchange held 10% stake in DGCX when it began operations in 2005 and later reduced it to 5%.

Infosys has signed a four-year contract with Toyota Motor Europe and is to provide pan-European application support to the company.

Bajaj Auto Ltd reported 3% increase in motorcycles sales in September 2013. It had sold 3,23,879 motorcycles in September 2013 against 3,15,314 units in September 2012. Its flagship platform Pulsar accounted for sale of one lakh units.

Tata Power has commenced construction work for the first phase of its joint venture 400 MW hydro power project in Georgia.

Zensar Technologies won significant large multi-year orders in its manufacturing sector in the United States.

Alstom bagged €100 million contract from GVK Power and Infrastructure Ltd to equip the 850 MW Ratle hydropower plant, which will be commissioned in 2017.

Lupin Pharmaceuticals Inc, the US subsidiary of Lupin Ltd, has launched its generic Gatifloxacin Ophthalmic Solution in the US.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
LUPIN BUY 861.2 855-858 845 895 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ADANIPOWER BUY OCT FUT 33.6 32-33 31 37 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
 
Key benchmark indices surged on strong buying support in Metal, banking and Capital Goods stocks. BSE Sensex, hit its highest level in almost a week. Except BSE FMCG index, all the other sectoral indices on BSE were in the green. Domestic sentiment was propped up on heavy capital inflows due to firm global cues coupled with appreciation of rupee against the dollar. On global front, European stocks were unchanged and Asian stocks were up as a gauge of China's services industries jumped and as investors watched for progress on ending an impasse over federal spending that shut down the government for the third day.
 
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