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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Sustaining above 5950 level will be the key for any further run-up towards higher levels.
07 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Sustaining above 5950 level will be the key for any further run-up towards higher levels.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20200 20050 19915.95 19780 19600
NIFTY 6000 5950 5907.30 5870 5810
BANK NIFTY 10500 10330 10197.15 10100 9930
CNXIT 8470 8400 8352.35 8320 8250
 
Corporate News

BPCL signed a long term agreement with Prodair Air Products India Pvt Ltd for the supply of hydrogen, nitrogen and steam to BPCL's Integrated Refinery Expansion Project in Kochi.

Ashok Leyland plans to launch a multi-utility van and a 13-seater passenger carrier.

Ashoka Buildcon's subsidiary Ashoka Concessions received another tranche of investment of Rs 110 crore from private equity fund SBI-Macquarie.

Natco Pharma Ltd will be raising about Rs 150 crore by end of next month to set up a pre-filled syringe unit.

Economy News

The HSBC Services Purchasing Managers' Index (PMI), slipped from 47.6 in August to 44.6 in September, its weakest since April 2009. That marked its straight third reading below 50, the threshold between growth and contraction.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BOMDYEING BUY 53.35 52-52.5 50.5 57 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
COLPAL BUY OCT FUT 1293 1280-1288 1258 1345 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 trimmed intraday gains in a choppy trading session. BSE Sensex, closed with mild gains while the CNX Nifty closed flat. The Sensex fell below the psychological 20,000 mark after regaining that level in morning trade. The market regained positive terrain in early afternoon trade. Key benchmark indices extended intraday gains in afternoon trade and hit fresh intraday high in mid-afternoon trade. The Sensex and the Nifty, both, hit 1-1/2-week high. Metal stocks edged higher in choppy trade. Realty stocks gained for the third day in a row. Intraday volatility was high.