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18 Jan 2017 | 1:23 PM
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Equity Research Report: Religare Morning Digest

Considering the broader uptrend in Nifty, we suggest maintaining buy on dips during the prevailing consolidation phase.
22 Apr 2016 | 07:00 AM

    Religare Morning Digest – Highlights for today
 
Market Outlook for the day -Considering the broader uptrend in Nifty, we suggest maintaining buy on dips during the prevailing consolidation phase.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 26260 26075 25880.38 25675 25470
NIFTY 8060 8000 7912.05 7850 7800
NIFTYBANK 16980 16800 16637.15 16525 16385
NIFTYIT 11650 11515 11355.40 11200 11050
News -
  • Indusind Bank's net profit surged 25% to Rs. 620 cr against Rs. 495.3 cr a year ago. NII increased 37% to Rs. 1268.2 cr YoY v/s Rs. 925.1 cr. Its asset quality deteriorated marginally with Gross NPA at 0.87% v/s 0.82% and Net NPA at 0.36% v/s 0.33% QoQ due to higher provisioning.
  • Banking stocks surged on news that the Reserve Bank of India has trimmed the list of companies whose loans have to be provided for against default risk in the March quarter. Jaiprakash Associates and Coastal Energen are among the 20 firms whose names have been dropped out of the 150 corporates that the RBI had listed in December.
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
MOTHERSUMI BUY 273.10 265-266 254 295 3-5 Days
BHEL SELL APR FUTS 129.30 131.50-132.50 136 123 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
CAIRN BUY APR 145 PE 2.45 2-2.25 0.50 7 3-5 Days
 
Fundamental Picks for delivery (9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
ATULAUTO BUY 546.45 506.00 580
JYOTHYLAB BUY 304.75 272.40 330
SUPREMEIND BUY 798.00 699.30 840
Note – For our running recommendations and past performance, please click here
**Please note that the given technical and derivative recommendations are "valid for taking position" if they trades within the given range on the recommended date.
Research Disclaimer
Regenerate OTP
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