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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Consolidation is expected to continue and 6250 is the next important level to watch for.
20 Nov 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Consolidation is expected to continue and 6250 is the next important level to watch for.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21150 20970 20890.82 20800 20700
NIFTY 6290 6230 6203.35 6180 6140
BANK NIFTY 11340 11220 11187.85 11100 11000
CNXIT 9070 9030 9003.90 8950 8900
 
Corporate News

BHEL received a major order of Rs 1300 crore from NTPC for supply and installation of the main plant package for a power project in Uttar Pradesh, involving one thermal power generating unit of 500 megawatts (MW).

Sadbhav Engineering has been declared the successful bidder by Delhi Metro Rail Corporation for a contract aggregating Rs 50.96 crore.

Sabero Organics Gujarat fell 4.17% on BSE after the company said on Monday that the Gujarat Pollution Control Board advised the company to close production process at its Sarigam unit in Gujarat due to environmental concerns.

The Bombay Stock Exchange and the National Stock Exchange will transfer the stocks of several companies, including Emami Infrastructure and Shriram EPC, to the restricted trade category from Friday. BSE would shift 57 securities to the trade-to-trade or ‘T’ group, while NSE would transfer 26 stocks to this segment.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
WIPRO BUY 488.05 484-486 470 515 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HDFC BUY NOV FUT 821.8 815-817 799 845 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
 
In a volatile trading session the Key benchmark indices closed positive at the end of the day. Market edged higher in early trade. The Sensex and the CNX Nifty, both, hit over 1-1/2-week high. A bout of volatility was witnessed later. The Sensex regained positive zone after slipping into the red in afternoon trade. Key benchmark indices moved in a narrow range in positive zone in mid-afternoon trade. The market breadth, indicating the overall health of the market, turned positive from negative in late trade.
Regenerate OTP
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