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Equity Research Report: Religare Morning Digest

The intensity of selling witnessed on Thursday clearly indicates possibility of further decline. Going ahead, 7525-7500 levels are what we are looking at in the near-term.
08 Jan 2016 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day -The intensity of selling witnessed on Thursday clearly indicates possibility of further decline. Going ahead, 7525-7500 levels are what we are looking at in the near-term.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 25175 25000 24851.83 24700 24580
NIFTY 7650 7600 7568.30 7530 7500
BANKNIFTY 16600 16350 16073.85 15900 15760
NIFTYIT 11070 10960 10863.20 10740 10600
News -
  • BHEL has commissioned two substations in Afghanistan, expanding its footprint in the strife-torn nation.
  • Maruti Suzuki India launched top-end diesel variant of its compact sedan DZire with auto gear shift (AGS) technology, priced at Rs. 8.39 lakh (ex-showroom, Delhi).
  • Cairn India stock fell as much as 8.3%., the biggest single-day fall since August 24, 2015.
  • Tata Motors fell 5.7% on NSE. The China market crash has weighed on the stock as investors are worried the slowdown in China may hit Jaguar sales.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BERGEPAINT BUY 253.05 249-251 242 270 3-5 Days
RECLTD SELL JAN FUT 213.35 216-218 224 202 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
NIFTY BUY 7500 PE 106.70 105 -10 30 3-5 Days
SELL 2, 7300 PE 54-95 54
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
NDL BUY 147.85 150 183
Note – For our running recommendations and past performance, please click here
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