20 Nov 2017 | 9:41 AM
Research Report
Weekly

Equity Research Report: Religare Morning Digest

Market Outlook for the day - Considering Wednesday's decline in index, we expect consolidation to continue in near term so maintain stock specific approach.
21 Nov 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Considering Wednesday's decline in index, we expect consolidation to continue in near term so maintain stock specific approach.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20875 20725 20635.13 20450 20330
NIFTY 6200 6150 6122.90 6060 6020
BANK NIFTY 11120 11030 10967.15 10880 10750
CNXIT 9000 8950 8915.35 8870 8840
 
Corporate News

Venus Remedies has emerged as the first Indian company to enter the generics market in the Gulf with marketing authorization for Meropenem from the Saudi Food and Drug Authority. Venus Remedies said that the $35 million market for meropenem in Saudi Arabia offers a huge opportunity to it, and the company is aiming at capturing 25% share in this market within the first year of the launch itself.

Jet Airways board approved issuing 2.72 crore equity shares at Rs 754.73 each to Etihad Airways on a preferential basis.

Wyeth announced that its board will meet on Saturday, 23 November 2013, to consider a scheme of amalgamation of the company with Pfizer. The board of Pfizer will also meet on 23 November 2013, to consider the proposed amalgamation.

NTPC has sought market regulator Sebi's approval to raise up to Rs 1,750 crore through tax free bonds in the current financial year. The funds raised through the issue would be utilised towards funding of capital expenditure and refinancing for meeting the debt requirement in on-going projects.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BHARATFORG SELL FUT 286.5 290-292 298 268 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TATAMOTORS SELL NOV FUT 386.5 390-392 399 376 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
 
A sell-off gripped bourses in late trade. CNX Nifty hit its lowest level in almost a week. Indian stocks dropped on caution ahead of the release of the minutes from the US Federal Reserve's last meeting, possibly providing clues to the timing of its plan to slow monetary stimulus to the US economy. Banking stocks leading the decline and BSE bank index closed 1.76% down. Consumer Durables, Auto and Capital Goods indices also closed 1.63%, 1.23% and 1.17% down respectively. The market breadth, indicating the overall health of the market, turned negative from positive in late trade.