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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Considering the start of the earning season along with the IIP numbers, it’s going to be a volatile session on Friday. As of now, the bias is on positive side but it’s advisable to keep the positions hedged to avoid unmanageable loss.
11 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering the start of the earning season along with the IIP numbers, it’s going to be a volatile session on Friday. As of now, the bias is on positive side but it’s advisable to keep the positions hedged to avoid unmanageable loss.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20530 20390 20272.91 20080 19950
NIFTY 6110 6060 6020.95 5960 5910
BANK NIFTY 10600 10450 10288.95 10180 10000
CNXIT 8800 8720 8603.80 8550 8500
 
Corporate News

Glenmark Pharmaceuticals' subsidiary filed a lawsuit in a US court seeking 180 days of exclusivity for its generic skin infections cream.

IL&FS Engineering and Construction company board approved raising up to Rs 300 crore through rights issue of equity shares. The issue will be priced at 7.5% discount to the closing price of the stock at NSE on Wednesday, 9 October 2013.

Hero MotoCorp unveiled refreshed version of all its existing models with additional features and new technology to give better choices to its customers starting this festive season. The 15 new products will be launched simultaneously over the next three months and prices will be announced accordingly.

Events Update:

Oct 11, 2013: Infosys Q2 results, IIP data
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PETRONET BUY 128.15 124-126 122 136 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RCOM BUY OCT FUT 151.6 148-149 143 156 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 able to close positive in a volatile trading session. Market alternately moved between positive and negative zone near the flat line in morning trade. The market trimmed losses in early afternoon trade. The Sensex regained positive terrain in afternoon trade. Intraday volatility continued as key benchmark indices alternately swung between positive and negative zone in mid-afternoon trade. Key benchmark indices strengthened in late trade. The market breadth was positive.
 
Regenerate OTP
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