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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Volatility is expected to be on the higher side as Infosys Technologies will be declaring its quarterly numbers on Friday.
10 Jan 2014 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Volatility is expected to be on the higher side as Infosys Technologies will be declaring its quarterly numbers on Friday.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21000 20850 20713.37 20600 20500
NIFTY 6260 6220 6168.35 6140 6090
BANK NIFTY 11250 11120 10970.45 10870 10800
CNXIT 9675 9625 9575.85 9525 9450
 
Corporate News

Coal India has moved the Competition Appellate Tribunal against a CCI order slapping Rs 1,773 crore penalty on it for unfair trade practices.

GVK Power & Infrastructure rose 5.41% on BSE on reports the company will inaugurate the newly developed terminal-II at the Mumbai international airport on 10 January 2014.

Tata Steel has won a two-year contract to supply more than 2 lakh tonnes of track to French rail operator SNCF.

Ranbaxy Laboratories has signed a product licensing agreement with EPIRUS Switzerland GmbH, a wholly-owned subsidiary of Boston-based EPIRUS Biopharmaceuticals, Inc.

Suven Life Sciences secured 3 product patents one each from Australia, Sri Lanka and South Korea for NCE's for the treatment of disorders associated with neurodegenerative diseases.

Results on 10 January 2014: Infosys, Indusind Bank
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PETRONET SELL JAN FUT 120.00 121-122 126 110 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BPCL BUY JAN FUT 326.30 322-324 316 339 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 settled marginally lower after alternately swinging between positive and negative zone throughout the trading session. Volatility continued as the market trimmed losses after reversing initial gains. Market extended losses and hit fresh intraday low in afternoon trade. Market breadth, indicating the overall health of the market, was negative.
Regenerate OTP
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