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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Banking stocks will play a crucial role in deciding Nifty's move in the coming sessions.
15 Jan 2014 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Banking stocks will play a crucial role in deciding Nifty's move in the coming sessions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21250 21150 21032.88 20950 20850
NIFTY 6315 6275 6241.85 6215 6185
BANK NIFTY 11175 11050 10948.90 10835 10750
CNXIT 10125 10060 9996.80 9930 9870
 
Corporate News

Cairn India Ltd will buy back shares from January 23, 2014 and extinguish them. The company will spend up to Rs 5,725 crore to buy back shares. The buyback will be open until July 22.

Kaveri Seed Company has fixed 28 January 2014 as the record date for 5-for-1 stock-split.

VA Tech Wabag has won a repeat order from Bangalore Water Supply and Sewerage Board for a value of around Rs 250 crore.

Results on 15 January 2014: Bajaj Finserv, Bajaj Finance, Development Credit Bank, Yes Bank.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AUROPHARMA BUY 388.75 CMP 372 408-412 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TATAMOTORS BUY JAN FUT 372.60 369-370 364 385 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, State Bank of India

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 as world stocks fell after Federal Reserve Bank of Atlanta President Dennis Lockhart on Monday said that the US economy is on solid footing and he would support continued cuts to stimulus. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets in recent years. India has been one of the biggest beneficiaries of foreign capital flows. The domestic market was weak and volatile throughout the day. Metal shares witnessed selling pressure. Realty stocks also edged lower. The market breadth, indicating the overall health of the market, was negative.