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Equity Research Report: Religare Morning Digest

Nifty managed to fill entire down side gap on Monday itself but to continue on this growth path 7950-8000 level must be crossed and sustained on the higher side.
10 Nov 2015 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day - Nifty managed to fill entire down side gap on Monday itself but to continue on this growth path 7950-8000 level must be crossed and sustained on the higher side.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 26500 26320 26121.40 25950 25800
NIFTY 8040 7980 7915.20 7850 7800
BANKNIFTY 17400 17200 17003.00 16800 16600
CNX-IT 11625 11520 11412.15 11300 11170
News -
  • Rural Electrification Corporation net profit rose 7.64% to Rs 1619.19 crore on 16.94% increase in total income to Rs 5924.73 crore in Q2 September 2015 over Q2 September 2014.
  • Tata Power reported a consolidated net profit of Rs 247.31 crore in Q2 September 2015, compared with net loss of Rs 77.75 crore in Q2 September 2014. Total income rose 11.80% to Rs 9557.76 crore in Q2 September 2015 over Q2 September 2014.
  • Aditya Birla Nuvo Ltd (ABNL), reported a 8.40% decline in consolidated net profit at Rs. 414.04 crore for the quarter ended September 30, 2015. ABNL’s net sales rose 11.5% to Rs. 7,237.88 crore from Rs. 6,492.06 crore in the same quarter last year.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ASIANPAINT BUY 816.40 805 - 810 780 870 3-5 Days
SYNDIBANK SELL NOV FUT 91.6 92.5 - 93 95.5 87 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
BANKNARODA BUY 175 CE 4.60 4 0.20 4 3-5 Days
SELL 180 CE 2.85 3
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
KOTAKBANK BUY 660.10 705.10 900
Note – For our running recommendations and past performance, please click here
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