22 Nov 2017 | 2:55 AM
Research Report
Daily

Equity Research Report: Religare Morning Digest

Market Outlook for the day – As Nifty is still upholding the range of 6140-6240 level on closing basis, we reiterate our view that an either side break and sustainability will decide its trend for the coming week.
13 Jan 2014 | 07:00 AM

    Highlights for Today
Market Outlook for the day - As Nifty is still upholding the range of 6140-6240 level on closing basis, we reiterate our view that an either side break and sustainability will decide its trend for the coming week.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20950 20850 20758.49 20600 20500
NIFTY 6245 6220 6171.45 6140 6090
BANK NIFTY 11075 10950 10805.30 10665 10550
CNXIT 9830 9780 9720.70 9670 9600
 
Corporate News

Tata Power Solar has launched Tata Dynamo, a 1 KVA solar power pack system to its solar product line-up.

Goa Carbon has temporarily shut down operations at its Bilaspur plant in Chattisgarh on account of non-availability of suitable raw material.

IndusInd Bank net profit rose 29.79% to Rs 346.90 crore on 21.68% increase in total income to Rs 2,623.76 crore in Q3 December 2013 over Q3 December 2012.

VA Tech Wabag has bagged its first ever order worth $40 million from Dar Es Salaam Water & Sewerage Authority in Tanzania.

Infosys' net profit grew 19.4% to Rs 2875 crore on 0.5% rise in revenues to Rs 13026 crore in Q3 December 2013 over Q2 September 2013 on a consolidated basis. The company expects consolidated revenues in rupee terms to grow 24.4%-24.9% for FY 2014, under IFRS. The company expects consolidated revenues in dollar terms to grow 11.5%-12.0% for FY 2014, under IFRS.

Economy News

India’s exports grew at a sluggish pace of 3.5% to $26.34 billion in December 2013 compared to the same month in the previous year. Overall imports during the month declined 15.25% to $36.48 billion.

Results on 13 January 2014: CMC, EXIDE, Reliance Industrial Infra.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
NTPC SELL JAN FUT 130.60 131-132 134 126 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
JSWSTEEL SELL JAN FUT 1024.60 1030-1033 1047 995 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 eked out small gains after witnessing high volatility during the second half of trading session. Infosys gained in volatile trade after the company raised its revenue growth guidance in both rupee and dollar terms for the year ending March 2014 at the time of announcement of its Q3 December 2013 results before trading hours on 10 January 2014. Many other IT stocks like TCS and HCL Technologies scaled record high and Tech Mahindra hit 52-week high. Banking pivotals declined in volatile trade.