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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Sideways to negative move may be witnessed and 6160-6120 will be the next supports to watch for.
04 Dec 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Sideways to negative move may be witnessed and 6160-6120 will be the next supports to watch for.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21100 20970 20854.92 20720 20600
NIFTY 6280 6240 6201.85 6160 6120
BANK NIFTY 11500 11350 11211.30 11100 11000
CNXIT 8940 8890 8867.80 8820 8760
 
Corporate News

GAIL (India) reported that the company is in talks to buy a stake in the Tanzanian assets of British oil explorer Ophir Energy Plc.

HeroMoto Corp announced a joint venture with Milan-based Magneti Marelli for the manufacture of new generation powertrains. Both companies will be investing $8.5 million in the joint venture firm—HMC-MM Auto Ltd— in the next three years and around $27 million over the next ten years.

L&T Construction secured various orders aggregating to Rs 1,471 crore since November with the majority coming from the power transmission and distribution segment.

Titan has launched helmets under Fastrack brand. The helmets are to be sold at exclusive Fastrack stores.

Bajaj Auto Ltd has recorded a 15% drop in motorcycle sales during November this year compared to the same month in 2012; commercial vehicle sales also witnessed a 30 per cent decline.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RELIANCE BUY 861.9 856-858 842 895 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
CESC BUY DEC FUT 399.3 393-394 385 408 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
 
Markets snapped its three day winning streak as the key indices witnessed a lower opening. The key indices gained a positive terrain and hit a fresh intraday high in early morning trade but once again slipped into red in mid-afternoon trade. Jindal Steel & Power, GAIL, Hindalco and BHEL edged higher from the Sensex 30 pack on the flip side; Dr. Reddy, NTPC, ONGC and M&M were the key laggards in Sensex 30 shares. The stocks from the banking basket also witnessed selling pressure.
 
Regenerate OTP
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