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Equity Research Report: Religare Morning Digest

Going forward, Nifty holds crucial support 5450 spot levels so one may book partial profit in short positions around that levels and keep trailing stop loss on every decline.
07 Aug 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Going forward, Nifty holds crucial support 5450 spot levels so one may book partial profit in short positions around that levels and keep trailing stop loss on every decline.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19000 18860 18733.04 18600 18450
NIFTY 5630 5585 5542.25 5500 5450
BANK NIFTY 9970 9800 9703.10 9620 9500
CNXIT 7960 7910 7877.15 7820 7760
 
Corporate News

Bajaj Electricals has reported an over 18-fold decline in its net profit at Rs 66 lakh for the first quarter ended June 30, 2013, due to higher expenses. The net profit stood at Rs 11.98 crore in the same period of the previous fiscal.

Tata Power, on a consolidated basis, has posted a loss of Rs 115 crore for the quarter ended June 30, against a profit of Rs 146 crore logged in the same period last year.

Oil and Natural Gas Corporation has signed a crude oil sale agreement with Mangalore Refinery and Petrochemicals Ltd.

Radico Khaitan net profit rose 6.58% to Rs 22.51 crore on 19.80% rise in net sales to Rs 348.44 crore in Q1 June 2013 over Q1 June 2012.

Supreme Infrastructure secured new orders worth Rs 1111.9 crore

Results on 07 August 2013: Apollo Tyres, Unity Infraprojects, Lupin, Ranbaxy, Archies, Lanco Infratech, Glaxosmithkline Pharma, Tata Motors.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ACC SELL FUT 1170.10 1180-1182 1195 1140 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
 
Key benchmark indices tumbled as better-than-expected US service industries data fueled speculation the US Federal Reserve will reduce stimulus to the US economy soon. Indo-Pan tension also weighed on equities. The rupee hit record low against the dollar. BHEL extended Monday's steep losses triggered by the company's weak Q1 results. Tata Power Company tumbled and hit 52-week low. Bank stocks extended intraday losses, with State Bank of India hit a 52-week low. Metal and mining stocks declined with Tata Steel also hit 52-week low. The Sensex hit its lowest level in nearly six weeks. The Nifty hits its lowest level in more than 16-week lows. The market breadth was weak.
 
 
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