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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Considering the overall upside momentum, any decline to 6150-6200 zone would attract buyers but one should be selective at current juncture.
06 Nov 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering the overall upside momentum, any decline to 6150-6200 zone would attract buyers but one should be selective at current juncture.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21270 21120 20974.79 20870 20700
NIFTY 6350 6300 6253.15 6220 6160
BANK NIFTY 11770 11680 11498.90 11380 11250
CNXIT 8820 8770 8724.10 8700 8650
 
Corporate News

Sundaram Brake Linings reported net profit of Rs 1.89 crore in Q2 September 2013 as compared to net loss of Rs 1.89 crore in Q2 September 2012. Total income from operations (net) rose 15.07% to Rs 61.45 crore in Q2 September 2013 over Q2 September 2012.

Suven Life Sciences announced securing two product patents for its New Chemical Entities in USA and Japan.

Granules India announced signing of a definite agreement for the acquisition of Auctus Pharma.

Ashok Leyland's medium and heavy commercial vehicle sales declined 18% to 4,093 units in October 2013 over October 2012. Sales of light commercial vehicles including DOST and STILE fell 11% to 2,710 units in October 2013 over October 2012.

Singapore-based agribusiness group Wilmar International has reportedly initiated talks to buy a majority stake in the sugar refiner Shree Renuka Sugars, which is looking at various options to ease its debt burden. Shree Renuka Sugars had borrowed to part-finance its acquisition of two loss-making sugar companies in Brazil in 2009-10.

Results on November 06, 2013: Kajaria ceramics, Parsvnath, IGL, ABB, BHEL, Thermax
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RCOM SELL FUT 145.3 146-147 149 138 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
FRL BUY NOV FUT 85.05 82-83 92 79 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 edged lower in choppy trade and Sensex fell below psychological 21,000 mark in late trade. Market was choppy after a survey showed that India's vast service sector activity remained weak in the month just gone by. Profit booking was witnessed in FMCG stocks and its BSE indices closed 2.5% down. Pharma and IT stocks also remain weak and its BSE indices closed more than 1% down.
 
Regenerate OTP
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