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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Nifty has approached its major support territory (5980-6020). We expect the market to consolidate around this zone for some time before taking any decisive move ahead.
13 Nov 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty has approached its major support territory (5980-6020). We expect the market to consolidate around this zone for some time before taking any decisive move ahead.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20670 20430 20281.91 20130 20000
NIFTY 6150 6070 6018.05 5970 5930
BANK NIFTY 11870 10730 10583.05 10530 10300
CNXIT 9000 8960 8914.40 8880 8830
 
Corporate News

Hindalco Industries net profit fell 0.56% to Rs 357 crore on 2.29% increase in revenue from operations to Rs 6305 crore in Q2 September 2013 over Q2 September 2012.

Canara Bank reported 5.3% fall in net profit to Rs 625.94 crore on 13.3% rise in total income to Rs 10427.48 crore in Q2 September 2013 over Q2 September 2012.

Godrej Industries consolidated net profit rose 22% to Rs 94 crore on 2% growth in total income to Rs 2083 crore in Q2 September 2013 over Q2 September 2012.

NHPC net profit fell 9.7% to Rs 707.58 crore on 3.1% decline in total income to Rs 1950.23 crore in Q2 September 2013 over Q2 September 2012.

Bajaj Electricals has reported a net loss of Rs 16.36 crore for Q2FY14 as against the profit of Rs 26.92 crore in the same period last fiscal.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DLF SELL FUT 143.9 145-146 149 138 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HCLTECH SELL NOV FUT 1105.5 1115-1120 1140 1075 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 edged lower in a volatile trading session as investors remained cautious ahead of consumer inflation and industrial output data. Weakness in European stocks also weighed adversely on sentiment. The rupee further weakened against the dollar. Most auto stocks declined. Metal stocks dropped. Bank stocks also fell. Hindalco Industries edged lower after the company reported net profit declined slightly in Q2 September 2013. The market breadth was negative.
 
Regenerate OTP
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