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Equity Research Report: Religare Morning Digest

Nifty has gained more than 3.5% in a single day. For the index to further advance towards higher levels, sustainability above 6000 levels will be the key.
20 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty has gained more than 3.5% in a single day. For the index to further advance towards higher levels, sustainability above 6000 levels will be the key. 
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20900 20750 20646.64 20450 20300
NIFTY 6200 6150 6115.55 6050 6000
BANK NIFTY 11500 11300 11148.65 11090 11000
CNXIT 8300 8220 8156.95 8100 8000
 
Corporate News

Kajaria Ceramics jumped 5% after a foreign fund bought 1.1% stake in the company in a bulk deal on NSE on 18 September 2013.

Suzlon Energy entered into an agreement with China's Poly LongMa Energy (Dalian), a conglomerate focused on conventional and green energy investments, to divest 75% stake in its China-based manufacturing subsidiary Suzlon Energy Tianjin (SETL) for $28 million.

Godrej Properties raised Rs 700 crore by selling fresh shares to existing shareholders through a rights issue. The proceeds of the rights issue would be utilised for adding new projects and reducing debt.

NHPC plans to start electricity generation from four more projects, having generation capacity of 1,250 MW, in the current Five-Year Plan period ending 2017.The addition would take the company's total power generation capacity to 6,997 MW.
 
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
LUPIN BUY 849.9 845-848 838 895 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RPOWER BUY SEP FUT 71.3 69-70 67 76 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 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 surged as world stocks rose after the US Federal Reserve decided to maintain stimulus to the US economy through monthly bond purchases of $85 billion. BSE Sensex, moved past the psychological 20,000 mark and the CNX Nifty surged past the psychological 6,000 level. The Sensex hit its highest level in more than 34 months. The Nifty hit its highest level in more than 17 weeks. Strong buying support seen in banking stocks and BSE Bank index closed 6.7% up. The market breadth was positive.
 
Regenerate OTP
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