25 Jun 2017 | 6:06 PM
Research Report
Daily

Equity Research Report: Religare Morning Digest

Market Outlook for the day – Thursday’s session is expected to remain volatile as many index majors – Axis Bank, Bajaj-Auto, HCL Tech will be declaring their quarterly figures.
16 Jan 2014 | 10:07 AM

    Highlights for Today
Market Outlook for the day - Thursday’s session is expected to remain volatile as many index majors – Axis Bank, Bajaj-Auto, HCL Tech will be declaring their quarterly figures.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21500 21375 21289.49 21150 21030
NIFTY 6400 6355 6320.90 6285 6240
BANK NIFTY 11350 11230 11125.40 11020 10930
CNXIT 10220 10140 10065.95 9950 9830
 
Corporate News

Yes Bank net profit rose 21.4% to Rs 415.60 crore on 17.4% growth in total net income to Rs 1053.30 crore in Q3 December 2013 over Q3 December 2012.

Bajaj Finance net profit surged 21% to Rs 194 crore on 31% growth in total income to Rs 1082 crore in Q3 December 2013 over Q3 December 2012.

Usha Martin reported the iron ore beneficiation and pellet plant at Jamshedpur has been commissioned and the same is under trial run.

McNally Bharat Engineering Company has received an order worth Rs 97.19 crore for civil, structural & supply works of an ash handling package.

Economy

Inflation based on the wholesale price index (WPI) eased to 6.16% in December 2013 as compared to 7.52% for the previous month and 7.31% during the corresponding month of the previous year.

Results on 16 January 2014: Axis Bank, Bajaj Auto, HCL Tech, LIC Housing, Mind Tree, Rallis India, TCS
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HDIL BUY 51.20 CMP 49.50 54.50 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PNB BUY JAN FUT 616.90 610-613 599 642 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 surged as the market sentiment was boosted after data showed inflation based on the wholesale price index (WPI) eased to five-month low at 6.16% in December 2013. Easing inflation provided legroom for the Reserve Bank to cut interest rates in its next policy meet in order to bolster growth. Firmness in Asian and European stocks also boosted sentiment. BSE Sensex and CNX Nifty, both, hit their highest level in almost two weeks. The market breadth, indicating the overall health of the market, was positive.