| Highlights for Today |
| Market Outlook for the day - Profit taking is expected to continue, 6100 is an important support to watch for. |
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| Key Indices – Levels to watch out for the day |
| INDEX (Spot) |
RESISTANCE 2 |
RESISTANCE 1 |
LTP |
SUPPORT 1 |
SUPPORT 2 |
| SENSEX |
21150 |
21000 |
20894.94 |
20790 |
20670 |
| NIFTY |
6300 |
6250 |
6215.15 |
6180 |
6140 |
| BANK NIFTY |
11500 |
11380 |
11292.55 |
11220 |
11140 |
| CNXIT |
8950 |
8900 |
8843.05 |
8800 |
8750 |
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Corporate News
Bajaj Auto has witnessed a 4 per cent decline in motorcycle sales year-on-year during October. The company sold 3.48 lakh bikes in October 2013 compared with 3.61 lakh units in the same month of 2012. Sales of its three-wheelers took a greater hit with 37,000 units, representing a decline of 26 per cent.
ABB India reported 78.14% surge in net profit to Rs 38.07 crore on 1.25% decline in total income to Rs 1786.82 crore in Q3 September 2013 over Q3 September 2012.
State Bank of India has raised the base rate and the benchmark prime lending rates by 20 basis points each, with effect from Thursday, 7 November 2013.
Mahindra & Mahindra launched an entry level version of its popular SUV, XUV500 priced at Rs 10.95 lakh (ex-showroom, Delhi).
BHEL said that its net income from operations for the quarter ended September 30, 2013 was declined by 15.2% to Rs 8,819 crore against Rs 10,399.62 crore in the same period in 2012-13.The net profit fell to Rs 455.95 crore in Q2 this year compared with Rs 1,274.45 crore in the same quarter last year.
Results on November 07, 2013: Eicher Motors, Tech Mahindra, Tata Coffee, India Cements, Radico Khaitan, HSIL, Chennai Petro, Aurobindo Pharma, Redington, Central Bank, MOIL, Triveni Engg, Spice Jet |
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| Trading/ Investment Ideas |
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| Technical Calls |
Company
Name |
Recommendation |
CMP |
Initiation
Range |
Stop
loss |
Target |
Time
Frame |
| ORIENTBANK |
SELL FUT |
194.25 |
198-200 |
205 |
180 |
3-5 DAYS |
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| Derivatives Call |
Company
Name |
Recommendation |
CMP |
Initiation
Range |
Stop
loss |
Target |
Time
Frame |
| TCS |
BUY NOV FUT |
2102 |
2084-2090 |
2056 |
2156 |
3-5 DAYS |
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| 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 |
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| Note – For our running recommendations and past performance, please click here |
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| Market Roundup |
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| Key benchmark indices edged lower in choppy trade as a decision by State Bank of India (SBI), India's biggest commercial bank in terms of branch network, to raise lending rates by 20 basis points hurt investor sentiment adversely as borrowing costs will rise for the corporate sector. IT and Power stocks gained and its BSE indices closed more than 1% up. Metal stocks dropped. Bank stocks dropped across the board. Bharat Heavy Electricals (Bhel) fell in choppy trade after weak Q2 results. The market breadth was positive. |
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