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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Till Nifty is holding above 6150 level on a closing basis, bullish momentum will persist.
22 Oct 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Till Nifty is holding above 6150 level on a closing basis, bullish momentum will persist.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21100 20970 20893.89 20730 20600
NIFTY 6270 6230 6204.95 6150 6100
BANK NIFTY 11050 10900 10797.55 10680 10500
CNXIT 9000 8940 8854.90 8760 8700
 
Corporate News

DLF has given a Rs 1,337-crore contract to L&T for the construction of its luxury residential project in Gurgaon.

Alstom T&D India will supply transformers for NTPC’s supercritical Nabinagar project in Bihar. The order worth's approximately Rs 105.5 crore.

Zee Entertainment Enterprises reported 26.03% increase in consolidated net profit at Rs 236.31 crore for the second quarter ended September 30, 2013. The consolidated net profit stood at Rs 187.49 crore in the same period of the previous fiscal.

Smruthi Organics received a notification from the USFDA highlighting violations of manufacturing norms at its Solapur plant.

Ranbaxy Laboratories received an approval from the Central Drugs Standard Control Organization (CDSCO) to manufacture and market a new drug for the treatment of malaria in adults.

Results on October 22, 2013:
ING Vysya Bank, Jyothy Lab, KPIT Cummins, Mahindra Forg, Wipro, Yes Bank
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
MCDOWELL-N BUY 2670.1 2640-2660 2580 2800 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
NTPC BUY OCT FUT 148.1 146-147 142 157 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
 
The markets ended a volatile session on a flat note. The domestic indices edged higher in early trade on firm Asian stocks as traders continued buying spree that began last week on bets the US Federal Reserve will continue its monetary stimulus for the US economy. During the post noon session, a bout of volatility was witnessed as the key indices reversed initial gains in morning trade. IT stocks extended recent fall on profit booking. L&T, Maruti and Tata Steel were the major gainers whereas ITC, TCS, BHEL and Bharti Airtel were the top losers.
 
Regenerate OTP
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