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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Nifty has filled the entire upside gap on Wednesday and there are higher chances of a bounce back in the following trading sessions. On the higher side 6350-6365 will be the important levels to watch for.
12 Dec 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty has filled the entire upside gap on Wednesday and there are higher chances of a bounce back in the following trading sessions. On the higher side 6350-6365 will be the important levels to watch for.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21400 21325 21171.41 21060 20940
NIFTY 6380 6350 6307.90 6270 6230
BANK NIFTY 12000 11880 11784.35 11650 11500
CNXIT 9100 9060 9028.20 9000 8960
 
Corporate News

Suzlon Energy subsidiary REpower Systems SE has bagged orders for setting up wind farms totaling a capacity of 266 MW in Germany.

Shakti Pumps (India) board of directors approved issue of warrants to promoter and promoter group on a preferential basis.

United Breweries rose 2.74% on BSE after Dutch beer maker Heineken International BV hiked its stake in the company for an estimated Rs 275 crore.

Crompton Greaves fell 2.94% to Rs 130.4 on BSE on reports the company is considering either selling or shutting its Canadian power transformer plant, to cut losses in its foreign business.

NTPC rose 2.43% to Rs 139.30 on BSE on bargain hunting after the stock slumped 11.26% on Tuesday, 10 December 2013.

Bharti Infratel rose 3.79% to Rs 184.90 on BSE after Bharti Airtel entered into an infrastructure-sharing deal with the telecom arm of Reliance Industries.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AXISBANK BUY 1273.2 CMP 1225 1350 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RELIANCE BUY DEC FUT 887.4 882-884 868 918 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
 
The Sensex and the Nifty fell about 0.4% at the closing session on Wednesday as markets across the world turned circumspect ahead of the US Federal Reserve’s meeting on December 17 and 18, besides RBI’s mid-quarter review of the monetary policy also slated on December 18. Barring FMCG, all other BSE sectorial indices ended in the red. Among them, capital goods, auto, metal and consumer durables sectors fell the most by 1.39%, 1.05%, 0.63% and 0.55%, respectively, while FMCG index was up 0.56%. The market breadth, indicating the overall health of the market, was negative.
Regenerate OTP
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