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Equity Research Report: Religare Morning Digest

Market Outlook for the day - The broad range for Nifty is 5780-6000, an either side break will confirm the indices move in the near term.
17 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - The broad range for Nifty is 5780-6000, an either side break will confirm the indices move in the near term.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20000 19850 19742.47 19630 19420
NIFTY 5925 5875 5840.55 5800 5730
BANK NIFTY 10700 10550 10368.40 10180 10050
CNXIT 8175 8050 8017.20 7955 7850
 
Corporate News

McNally Bharat Engineering Company secured a new order worth Rs 51.75 crore.

Man Industries’ board at a meeting held on 15 September 2013, approved a scheme of arrangement involving its saw pipes business & real estate and infrastructure business.

L&T Construction won new orders worth Rs 1793 crore across various business segments in July, August and September 2013.

Steel Strips Wheels bagged an export order from Ring Tech Company.

The US FDA has given its final approval to Sun Pharmaceutical Industries’ subsidiary for its Abbreviated New Drug Applications (ANDA) for generic version of Prevacid, Lansoprazole Delayed-Release Capsules USP indicated for short-term treatment of active duodenal ulcer.

Economy News

Costlier onion and other vegetables pushed inflation up 6.1% in August for the third month in a row. The inflation stood at 5.79% in July and 8.01% in August 2012
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TATAMOTORS BUY 331.35 325-330 318 365 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DRREDDY SELL SEP FUT 2236 2255-2260 2295 2180 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps ACC, 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 choppy trade as data of WPI inflation accelerated in August 2013, firming expectations that the central bank may again hold off cutting interest rates at its monetary policy review on 20 September 2013. Market opened positive in the morning trade but volatility was high during the day. IT stocks declined as the rupee surged against the dollar. Shares of Ranbaxy Laboratories tumbled 30% in a single trading session after the US Food and Drug Administration issued an import alert against company's Mohali plant. Shares of most private banks rose. The market breadth was negative.
 
 
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