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Equity Research Report: Religare Morning Digest

Market Outlook for the day – As the index has posted strong run-up from 5700 till 6100 levels and due to the existence of several resistances, the chances of profit taking from the current levels cannot be ruled out.
14 Oct 2013 | 07:04 AM

    Highlights for Today
Market Outlook for the day - As the index has posted strong run-up from 5700 till 6100 levels and due to the existence of several resistances, the chances of profit taking from the current levels cannot be ruled out.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20840 20660 20528.59 20420 20240
NIFTY 6200 6140 6096.20 6060 6000
BANK NIFTY 11000 10750 10622.15 10500 10350
CNXIT 9130 9010 8870.15 8650 8560
 
Corporate News

Infosys reported a growth of 1.6% in net profit to Rs 2,407 crore year-on-year basis on the back of a revenue growth of 31.5% to Rs 12,965 crore in Q2FY14. The company has also revised its revenue guidance for the year to 9-10% from 6-10% earlier.

Coal India extended recent fall triggered by media reports that the government is likely to dilute 5% stake in the company via follow-on public offer in December 2013.

Shares of real estate companies rose after the capital market regulator (SEBI) on Thursday, 10 October 2013, issued draft guidelines to set up real estate investment trusts in India.

Ranbaxy Laboratories’ US-based facility, Ohm Laboratories Inc, have got a clean chit from the US drug regulator. The move paves the way for Ranbaxy to continue supplying the US market from this unit.

Hero MotoCorp reported that the company is developing a motorcycle to be priced lower than its entry-level HF Dawn model. HF Dawn is currently priced at Rs 37,000.

Event Update: WPI Inflation –October 14,2013

Results on October 14, 2013: Reliance Industries
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BHARATFORG BUY 271.15 265-268 258 285 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
UNIONBANK BUY OCT FUT 120.4 117-118 113 127 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
 
Market jumped more than a percent in the last trading day of the week as a strong beginning to the earnings season, with IT major Infosys raised its revenue guidance for the full year and gains in rupee against the dollar boosted the sentiment. The market sentiment was also boosted by Gains in European and Asian stocks triggered by hopes that US lawmakers will lift the debt limit and avoid a default aided rally on the domestic bourses. The market breadth, indicating the overall health of the market, was positive.
 
 
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