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Equity Research Report: Religare Morning Digest

Market Outlook for the day -Nifty has approached its resistance zone 5700-5720 therefore it is advisable to book profits in the recently created long positions.
10 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day -Nifty has approached its resistance zone 5700-5720 therefore it is advisable to book profits in the recently created long positions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19500 19390 19270.06 19150 19000
NIFTY 5760 5720 5680.40 5640 5600
BANK NIFTY 10260 10070 9961.40 9850 9720
CNXIT 8350 8270 8216.50 8160 8100
 
Corporate News

Mahindra & Mahindra Financial Services signed initial pact with Woori Financials, Korea to evaluate and establish a JV for financing Ssangyong Motor's vehicles in Korea.

Hindustan Oil Exploration Company said that the oil ministry has approved the commerciality of a hydrocarbon discovery in a block in Assam.

Three aviation stocks rose on BSE as airlines in India recently announced a steep hike in airfares to mitigate the impact of the sharp fall in the rupee and surge in jet fuel prices.

Coal India Ltd will decide on the proposal for buyback of shares on September 18.

Ashok Leyland Ltd launched a new truck, the 3120 MAV, its first vehicle to be powered by the Neptune family of engines.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
JSWSTEEL BUY 580.65 570-575 560 615 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DISHTV BUY SEP FUT 43.2 42.2-42.6 40.7 47 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 surged as a strengthening rupee boosted sentiment. During the last hour of trading session, the key indices regained the positive terrain after swinging alternately between positive and negative zone in morning trade. Also, India and Japan announced that they have decided to expand a bilateral currency swap facility to $50 billion from $15 billion. The announcement was made after bilateral talks on the sidelines of a Group of 20 summit, due to which the overall health of the market was progressive.