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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Wednesday’s trading session is expected to remain volatile as RBI will be announcing its monetary policy and that would set the tone for the following sessions.
18 Dec 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Wednesday’s trading session is expected to remain volatile as RBI will be announcing its monetary policy and that would set the tone for the following sessions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20900 20730 20612.14 20550 20400
NIFTY 6230 6180 6139.05 6120 6070
BANK NIFTY 11450 11340 11208.65 11100 10900
CNXIT 9200 9160 9119.35 9090 9040
 
Corporate News

Zee Entertainment Enterprises (ZEEL) board approved the scheme of arrangement between the company and Diligent Media Corporation (DMCL) for the demerger of the media business undertaking from DMCL and vesting into the company. DMCL is an Essel Group company.

TCS reported in media that 2014-15 will be better for the company than the ongoing fiscal with uptick in client spending in the US and Europe.

JSW Steel rose 1.28% to Rs 925 on BSE after the fair trade regulator Competition Commission of India has approved the acquisition of Heidelberg Cement India's cement grinding facility at Raigad, Maharashtra, by JSW Steel.

Speciality Restaurants rose 1.06% to Rs 124 on BSE after Saif India IV FII Holdings bought 15 lakh shares of the company through a bulk deal on Monday, 16 December 2013.

IRB Infrastructure Developers said it has emerged as a preferred bidder for a road project in Maharashtra.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ANDHRABANK SELL FUT 58.6 59-60 61 55 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BANKINDIA SELL DEC FUT 206.55 BELOW 205 209 198 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 reversed direction after holding positive zone till afternoon trade as European stocks dropped. BSE Sensex, and CNX Nifty, both, hit 2-1/2-week low. A widely expected hike in repo rate by the Reserve Bank of India (RBI) after a monetary policy review on 18 December 2013, weighed on stock prices as key benchmark indices dropped for the sixth day in a row. The market breadth, indicating the overall health of the market, was negative.
Regenerate OTP
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