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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.
14 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 20530 20350 20194.40 20070 19930
NIFTY 6100 6040 5989.60 5950 5900
BANK NIFTY 11870 10670 10523.35 10380 10250
CNXIT 9000 8930 8859.15 8830 8770
 
Corporate News

State Bank of India net profit fell 35.08% to Rs 2375.01 crore on 12.89% increase in total income to Rs 37,199.92 crore in Q2 September 2013 over Q2 September 2012. Its ratio of net non-performing assets (NPA) to net advances stood at 2.91% as on 30 September 2013, compared with 2.83% as on 30 June 2013 and 2.44% as on 30 September 2012.

Gujarat Gas Company consolidated net profit rose 19.70% to Rs 119.08 crore on 0.23% fall in net sales to Rs 828.30 crore in Q3 September 2013 over Q3 September 2012.

Credit Analysis and Research (CARE) net profit rose 6% to Rs 35.10 crore on 6.3% increase in total income to Rs 70.70 crore in Q2 September 2013 over Q2 September 2012.

Reliance Capital consolidated net profit jumped 201% to Rs 181 crore on 20% growth in total income to Rs 1869 crore in Q2 September 2013 over Q2 September 2012.

Bata India’s parent company Bata BN BV bought shares from open market on Tuesday, 12 November 2013.

GMR Infrastructure posted a consolidated net loss of Rs 393.05 crore in Q2 September 2013, higher than the consolidated net loss of Rs 179.30 crore in Q2 September 2012.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
IDEA BUY 165.1 163-164 160 174 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SBIN BUY NOV FUT 1707.3 1688-1692 1657 1780 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 choppy trading session as weakness in European and Asian stocks dampened sentiment. CNX Nifty hit its lowest level in five weeks below the psychological 6,000 mark. Realty was the major loser for the day and BSE realty index closed 1.14% down. FMCG, IT and Bank indices closed negative. The market breadth, indicating the overall health of the market, was negative.
Regenerate OTP
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