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Equity Research Report: Religare Morning Digest

Considering the prevailing negativity, the immediate support area of 5450 levels holds the key and breakdown of the same may result in testing in 5300 in near future.
19 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering the prevailing negativity, the immediate support area of 5450 levels holds the key and breakdown of the same may result in testing in 5300 in near future.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18900 18750 18598.18 18500 18380
NIFTY 5710 5560 5507.85 5486 5450
BANK NIFTY 9800 9600 9450.85 9300 9150
CNXIT 8050 8000 7774.2 7700 7620
 
Corporate News

National Aluminium Company net profit fell 28.4% to Rs 159.70 crore on 10.6% decline in net sales to Rs 1536.54 crore in Q1 June 2013 over Q1 June 2012.

JK Tyre & Industries consolidated net profit galloped 236.1% to Rs 55.26 crore on 3.3% growth in net sales to Rs 1866.94 crore in Q1 June 2013 over Q1 June 2012.

Sundram Fasteners net profit fell 5.7% to Rs 29.45 crore on 9.7% decline in net sales to Rs 515.30 crore in Q1 June 2013 over Q1 June 2012.

MMTC net profit declined 50.1% to Rs 6.02 crore on 68.6% growth in net sales to Rs 8823.20 crore in Q1 June 2013 over Q1 June 2012.

Shree Renuka Sugars reported a net loss of Rs 63.60 crore in Q1 June 2013 compared with a net profit of Rs 13.30 crore in Q1 June 2012.

Gujarat Fluorochemicals consolidated net profit fell 68.8% to Rs 55.36 crore on 14.5% decline in net sales to Rs 682.68 crore in Q1 June 2013 over Q1 June 2012.

Jain Irrigation Systems reported consolidated net loss of Rs 60.33 crore in Q1 June 2013, higher than net loss of Rs 48.74 crore in Q1 June 2012.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
M&M SELL FUT 842.5 850-855 868 815 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ZEEL SELL AUG FUT 249.3 255-256 263 241 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
 
There has been carnage on the street as the Reserve Bank of India's curbs on forex outflows to stem rupee's slide rattled investor sentiment. Fears that the Federal Reserve will begin to scale back its monthly bond buys in September 2013 added to the market's setback. BSE Sensex was down by 769 points. All the thirteen sectoral indices on BSE were in the red. Banking stocks tumbled, with shares of state-run banking giant State Bank of India (SBI) hit 52-week low. Metal and Realty stocks also declined sharply. The market breadth was weak.
 
Regenerate OTP
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