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Equity Research Report: Religare Morning Digest

Market Outlook for the day - It is important Nifty sustains above 6000 mark on a closing basis else lower lows will witnessed in the near term.
18 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - It is important Nifty sustains above 6000 mark on a closing basis else lower lows will witnessed 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 20750 20600 20415.51 20350 20100
NIFTY 6155 6100 6045.85 6030 5950
BANK NIFTY 10700 10480 10336.55 10200 9950
CNXIT 9100 8950 8797.85 8660 8500
 
Corporate News

Axis Bank’s net profit rose 21.25% to Rs 1362.31 crore on 13.22% increase in total income to Rs 9375.08 crore in Q2 September 2013 over Q2 September 2012.

NMDC’s iron ore production for the half-year ended September 30, 2013 has gone up by 5.31% to 12.89 million tonnes.

IL&FS Engineering and Construction received a Letter of Award (LoA) from Paschimanchal Vidyut Vitran Nigam Ltd for execution of rural electrification works in Bulandshahr district of Uttar Pradesh. The Rs 149.68-crore project is to be executed within 18 months on a turnkey basis.

Prism Cement Ltd has become the first Indian company to get the Quality Council of India’s (QCI) certification for its ready-mix concrete (RMC) plant in Kochi, Kerala. The unit has a production capacity of 1.08 lakh cubic metres a year.

Castrol India’s net profit jumped 21.9% to Rs 104.50 crore on 0.1% growth in income from operations to Rs 719.60 crore in Q3 September 2013 over Q3 September 2012.

Results on October 17, 2013:
CRISIL, L&T,NIIT, Petronet LNG
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HINDPETRO SELL OCT FUT 186.6 188-189 192 175 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
CAIRN BUY OCT FUT 325.5 322-323 316 338 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
 
Domestic markets slipped into red after a positive start triggered by higher Asian stocks. The key indices alternately swung between positive and negative zone near the flat line in early afternoon trade before sinking. The rupee edged higher against the dollar on global risk-on sentiment after the US lawmakers on Wednesday, 16 October 2013, voted to reopen the US government and raise the nation's debt ceiling, avoiding a default. Stocks from the Banking basket dropped after the latest data showed slower loan as well deposit growth of the banking sector than the Reserve Bank of India's full-year projection. FMCG stocks gained on renewed buying.
 
Regenerate OTP
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