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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Considering Thursday's move, we expect positivity to continue in the next session too but one should be selective on stock front and maintain strict stops.
19 Jul 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering Thursday's move, we expect positivity to continue in the next session too but one should be selective on stock front and maintain strict stops.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20340 20220 20128.41 20000 19900
NIFTY 6110 6070 6038.05 6000 5970
BANK NIFTY 11580 11320 11187.70 11000 10900
CNXIT 7420 7360 7306.35 7250 7200
 
Corporate News

BPCL will invest Rs 900 crore to set up a new LPG pipeline from Kochi to Coimbatore and enhance the storage capacity at its Irumpanam installation.

Axis Bank posted a 23% growth in net profit to Rs 1,409 crore in the first quarter ended June 30, 2013. The bank had reported a net profit of Rs 1,154 crore in the year-ago period.

IDBI Bank has reported 28.1% decline in net profit at Rs 306.95 crore for the first quarter ended June 30, 2014.The net profit stood at Rs 427.34 crore.

Kotak Mahindra Bank has posted a 43% jump in net profit at Rs 403 crore during April-June quarter of this fiscal against Rs 282 crore in the year-ago quarter. The profit was driven by a spike in interest income and robust loan growth.

Results on 19 July 2013: Reliance Industries, HDFC Ltd, Federal Bank, NIIT Ltd, JK Paper, Hindustan Zinc, Hexaware Technologies, Bajaj Auto, UCO Bank.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
UNIPHOS BUY 143.95 141-142 138 150 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SRTRANSFIN BUY JUL FUT 656.7 650-653 633 682 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 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 in late trade with higher European markets boosting sentiment. BSE Sensex scaled its highest level in almost seven weeks above the psychological 20,000 level, after having alternately moved above and below that mark in intraday trade. The CNX Nifty also hit almost seven week high above the psychological 6,000 level. Bank stocks rose across the board on bargain hunting. The market breadth turned positive from negative in late trade.
 
Regenerate OTP
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