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Equity Research Report: Religare Morning Digest

Market Outlook for the day - As per the trendline placed on daily chart, 5625 levels in the next crucial levels; breakdown of the same would result in fresh selling pressure.
06 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - As per the trendline placed on daily chart, 5625 levels in the next crucial levels; breakdown of the same would result in fresh selling pressure.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19470 19290 19182.26 19080 18930
NIFTY 5780 5720 5685.40 5650 5620
BANK NIFTY 10270 10160 10094.90 9960 9850
CNXIT 8000 7950 7916.50 7870 7830
 
Corporate News

Spicejet net profit declined 10% to Rs 50.5 crore in the first quarter of this fiscal. The profit in the previous quarter was Rs 56.2 crore YoY basis. The total income of the company stands at Rs 1,704 crore as against Rs 1,467 crore YoY basis.

Shares of Bharat Heavy Electricals Ltd slumped over 19% to hit a one-year low after the company reported nearly 50% decline in net profit for the first quarter ended June 30, 2013.

TCS has been selected by Australian Pharmaceutical Industries (API) to unify the firm's IT systems across retail and wholesale operations.

Tata Chemicals’ consolidated net profit declined 30.09% to Rs 75.21 crore on 7.06% growth in total income to Rs 3331.65 crore in Q1 June 2013 over Q1 June 2012.

Punj Lloyd reported consolidated net profit of Rs 40.41 crore in Q1 June 2013, as against net loss of Rs 13.37 crore in Q1 June 2012.

Results on 06 August 2013: Jindal Saw, Unitech, Bosch, Welspun Corp, Tata Power, Bombay Dyeing, Karur Vysya, Crompton Greaves, Gillette India, Bajaj Electricals.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
GAIL SELL FUT 306.25 313-315 320 295 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
UNIONBANK BUY AUG FUT 121.6 118-119 114 127 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
 
The key benchmark indices closed positive in a volatile trading day. The Sensex surged and hit fresh intraday high in mid-morning trade. The market trimmed gains in early afternoon trade. The Sensex was trading slightly higher in mid-afternoon trade. The market regained positive terrain after falling briefly into the red in late trade. BHEL tumbled after the company reported weak Q1 results on 3 August 2013. Telecom stocks dropped. Some metal stocks rose on bargain hunting after recent losses. The market breadth was negative.
 
Regenerate OTP
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