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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Nifty edging past 6100 is a positive development indicating bullish bias to persist.
15 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty edging past 6100 is a positive development indicating bullish bias to persist.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20870 20700 20607.54 20450 20270
NIFTY 6200 6140 6112.70 6060 6000
BANK NIFTY 11000 10750 10665.25 10500 10350
CNXIT 9300 9130 9061.75 8930 8800
 
Corporate News

IndusInd Bank reported 32% growth in net profit at Rs 330.23 crore for the quarter ended September 30, 2013.The net profit stood at Rs 250.25 crore and the total income increased to Rs 2,435.30 crore during the second quarter of the current fiscal from Rs 2,048.42 crore in the same period a year ago.

Suzlon Energy registered that the group won a 65 megawatt (MW) project in Uruguay.

Pratibha Industries secured two contracts aggregating to Rs 516.17 crore from PHED, Rajasthan.

Wockhardt hit a lower circuit limit of 5% after the UK drug regulator withdrew its quality certification to the company's Chikalthana factory in Maharashtra.

Tech Mahindra rose after the central bank enhanced the limit for foreign institutional investors to purchase shares in the company up to 45% of the paid up capital of the company.

ONGC’s overseas arm has agreed to buy an additional 12% stake in a Brazilian oil block from Brazil's Petrobras for $529 million.

Economic News

The wholesale price index based inflation has come in at 6.46% for September. This is higher than the 6.1% recorded in the previous month. The WPI-based inflation for July has now been revised upwards to 5.85% as compared to 5.79% reported earlier.

Results on October 15, 2013:

Bajaj Finserv, Bajaj Finance, Blue Dart, HDFC Bank, NIIT Tech, Sintex Industries, TCS
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
UCOBANK BUY 64.9 68-68.5 66 74 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
JSWSTEEL SELL OCT FUT 782.3 792-798 810 755 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 closed positive in a volatile trading session. Market jumped in the opening trade but pressure of profit booking witnessed and it was unable to sustain at higher levels. The WPI data disappointed the market and suddenly it came in red. It bounced soon and closed in green at the end of the session. Strong buying support was seen in IT stocks and BSE IT index closed more than 2% up. TCS scaled record high ahead of its Q2 result. The market breadth was positive.
 
Regenerate OTP
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