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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Holding above 5850 is the key for further run-up towards higher levels.
13 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Holding above 5850 is the key for further run-up towards higher levels.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20050 19900 19781.88 19630 19420
NIFTY 5930 5890 5850.70 5800 5730
BANK NIFTY 10400 10260 10158.55 10000 9850
CNXIT 8380 8320 8270.15 8220 8170
 
Corporate News

Suzlon group subsidiary REpower Systems SE, signed a contract with Valorem for 24 wind turbines of type MM92 with 80 metres hub height and a rated power of 2 megawatts (MW) to be supplied to four wind farms located in French Picardie, Pays de la Loire and Burgundy regions.

MT Educare signed a distribution and marketing agreement with Chetana Publications, a leading name in publishing and distribution of educational content.

Zensar Technologies announced an agreement with Kapela Fund 1 and The Tomorrow Trust to set up a new Broad Based Black Economic Empowerment company in South Africa.

Financial Technologies (India) spurts 18.25% on BSE after the Securities and Exchange Board of India renewed the license of MCX Stock Exchange for a period of one year beginning 16 September 2013.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BHEL SELL FUT 131.8 134-135 138 126 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PETRONET BUY SEP FUT 119.9 118-119 115 126 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps ACC, 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 edged lower in choppy trade as European stocks dropped and after Indonesia's central bank surprised markets with a quarter-percentage-point increase in its benchmark policy rate. The rupee dropped against the dollar. Profit booking witnessed in Metal, Banks and Auto stocks and its BSE indices closed 2.53%, 1.86% and 1.80% down respectively. The market breadth, indicating the overall health of the market, turned negative from positive in late trade.
 
 
Regenerate OTP
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