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06 Dec 2016 | 5:09 PM
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Equity Research Report: Religare Morning Digest

Decline witnessed yesterday in Nifty index has further strengthened our conviction that negative to sideways bias is here to stay. PSU banks and cement stocks can be considered for creating fresh short positions.
04 Dec 2015 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day - Decline witnessed yesterday in Nifty index has further strengthened our conviction that negative to sideways bias is here to stay. PSU banks and cement stocks can be considered for creating fresh short positions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 26220 26050 25886.62 25700 25575
NIFTY 7970 7920 7864.15 7800 7760
BANKNIFTY 17420 17260 17110.10 16970 16800
CNX-IT 11320 11200 11081.90 10980 10870
News -
  • Chennai Petroleum Corporation fell 5.52% to Rs 191 on NSE on reports the company shut its refinery in Chennai yesterday, 2 December 2015, due to heavy flooding in Tamil Nadu.
  • Reliance Communications surged 6.56% to Rs 83.60 on NSE after the company said that 6 crore shares pledged by one of its promoter group entities have been releasesd..
  • Bank of Baroda fell 1.73% to Rs 170.80 on NSE, with the stock extending Wednesday's slide triggered by government ordering a forensic probe into the alleged irregularities from the bank's Ashok Vihar branch.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
CASTROLIND BUY 450.65 446 - 448 435 470 3-5 Days
SRTRANSFIN SELL DEC FUT 867.7 874 - 876 890 845 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
BHEL BUY 170 PE 6.70 6 4 10 3-5 Days
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
FIEMIND BUY 701.20 652 760
Note – For our running recommendations and past performance, please click here
Research Disclaimer
 
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