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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Nifty is still looking weak, any bounce from the current levels can be utilized to create fresh short positions.
20 Jan 2014 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Nifty is still looking weak, any bounce from the current levels can be utilized to create fresh short positions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21300 21180 21063.62 20950 20840
NIFTY 6340 6300 6261.65 6220 6185
BANK NIFTY 11200 11050 10911.35 10810 10700
CNXIT 10045 9960 9884.35 9825 9775
 
Corporate News

HDFC Bank's net profit rose 25.1% to Rs 2325.70 crore on 17.8% growth in total income to Rs 12739 crore in Q3 December 2013 over Q3 December 2012. Its net interest margin declined to 4.2% in Q3 December 2013, from 4.3% in Q3 December 2012.

ITC's net profit rose 16.25% to Rs 2385.34 crore on 13.4% rise in total income to Rs 9117.91 crore in Q3 December 2013 over Q3 December 2012.

Hindustan Zinc’s net profit rise 7% to Rs 1,723 crore in the third quarter of the current financial year from Rs 1,613 crore a year ago.

Results on 20 January 2014: Aptech, Asian paints, Dewan Housing, Kajaria Ceramics, Tata Metalliks, Ultratech Cement
 
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AXISBANK SELL JAN FUT 1148 1155-1165 1190 1102 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ACC BUY JAN FUT 1031.50 1020-1023 1005 1048 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, State Bank of India

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
 
The key benchmark indices closed negative in a weak and volatile trading session. Selling pressure continues at the onset of the trading session and BSE Sensex and CNX Nifty both closed almost a percent down. Selling intensified in afternoon trade as key benchmark indices extended losses and hit fresh intraday low. Among BSE Sectoral indices; IT, Realty and Banking were the major losers for the day. The market breadth was weak during the session.
Regenerate OTP
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