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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Considering the overall scenario, we may see index inching higher on Thursday as well but one should maintain caution approach and be selective.
10 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering the overall scenario, we may see index inching higher on Thursday as well but one should maintain caution approach and be selective.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20530 20350 20249.26 20080 19950
NIFTY 6100 6040 6007.45 5950 5910
BANK NIFTY 10600 10450 10334.95 10220 10000
CNXIT 8720 8600 8564.45 8500 8440
 
Corporate News

DLF sold its stake in unit Star AluBuild as part of its strategy to exit non-core businesses.

Prestige Estates Projects real estate sales rose 31% to Rs 1068.50 crore in Q2 September 2013 over Q2 September 2012.

PTC India received Rs 778 crore from UP Power Corporation towards past outstanding dues against purchase of power from the company.

Greaves Cotton divested its entire stake in its step-down subsidiary company, Greaves Farymann Diesel GmbH (GFD) in Germany, for strategic purposes. The stake in GFD was held through the company's wholly owned subsidiary, Greaves Cotton Netherlands B.V.

Economy News

The trade deficit fell to a 30-month low in September to $6.7 billion. Exports increased 11.15%during the month to $27.64 billion compared to the same month in the previous year, while imports fell sharply by 18.10% to $34.43 billion. Imports declined primarily due to a fall in crude oil and gold inflow. Gold imports fell 82% in September to $0.8 billion, compared to $4.5 billion in September last year. Oil imports during September fell 5.94% to $13.19 billion, while non-oil imports declined 4.55% to $149.35 billion.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
NMDC BUY 127.15 124-125 121 135 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SBIN BUY OCT FUT 1622 1600-1605 1575 1710 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 extended intraday gains in late trade as European stocks reversed intraday losses. CNX Nifty moved past the psychological 6,000 mark. Sentiment got additional boost from the latest data which showed India's trade deficit narrowed sharply in September 2013 from August 2013. The data helped to ease worries about the country's high current account deficit. The market breadth was positive.
 
Regenerate OTP
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