30 May 2017 | 5:34 PM
Research Report
Weekly

Equity Research Report: Religare Morning Digest

The consolidation phase is yet not over as the resistance of 7800 in Nifty is still intact. Besides, we are seeing only handful of stocks performing consistently well so keep extra caution in stock selection and maintain strict risk management rules.
12 Apr 2016 | 07:00 AM

    Religare Morning Digest – Highlights for today
 
Market Outlook for the day -The consolidation phase is yet not over as the resistance of 7800 in Nifty is still intact. Besides, we are seeing only handful of stocks performing consistently well so keep extra caution in stock selection and maintain strict risk management rules.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 25420 25250 25022.16 24830 24600
NIFTY 7800 7740 7671.40 7600 7530
NIFTYBANK 16250 16000 15818.50 15590 15400
NIFTYIT 11565 11410 11291.35 11140 10980
News -
  • Cairn India reported an 8% fall in oil and gas production for the fourth quarter of fiscal 2015-16 at 17.93M barrels of oil equivalent as compared to 19.4M barrels of oil equivalent in the same quarter last year.
  • Suzlon Group has announced it has bagged a maiden order of 105 MW from Greenko Group to be executed in Andhra Pradesh.
  • L&T has bagged two orders worth $370 million (Rs 2,456.24 crore) from Petroleum Development Oman.
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PETRONET BUY 244.60 242-244 235 262 3-5 Days
EVEREADY BUY 239.35 236-238 230 252 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
ICICIBANK BUY 225 CE 6.25 5.75-6 3 12 3-5 Days
 
Fundamental Picks for delivery (9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
ATULAUTO BUY 521.80 506.00 580
JYOTHYLAB BUY 301.75 272.40 330
SUPREMEIND BUY 772.45 699.30 840
Note – For our running recommendations and past performance, please click here
**Please note that the given technical and derivative recommendations are "valid for taking position" if they trades within the given range on the recommended date.
Research Disclaimer