23 May 2017 | 6:22 AM
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Equity Research Report: Religare Morning Digest

In short run, it’s tough to take a call on the next directional move in index since we have a long list of events lined up ahead. So, we suggest traders to uphold stock specific trading approach in the meanwhile and wait for further clarity.
23 Feb 2016 | 07:00 AM

    Religare Morning Digest – Highlights for today
 
Market Outlook for the day -In short run, it’s tough to take a call on the next directional move in index since we have a long list of events lined up ahead. So, we suggest traders to uphold stock specific trading approach in the meanwhile and wait for further clarity.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 24110 23900 23788.79 23600 23375
NIFTY 7350 7270 7234.55 7175 7100
NIFTYBANK 14750 14550 14384.80 14175 13980
NIFTYIT 11000 10865 10720.60 10600 10490
News -
  • Rashtriya Chemicals and Fertilizers rose 7.8% to Rs 43.40 on BSE on reports the company is likely to receive clearance for setting up a new urea plant in Maharashtra.
  • Shares of two footwear makers (Liberty shoes & Bata India) rose on BSE on reports the government is considering a package of tax incentives for the labour-intensive leather, gems and jewellery sectors in the forthcoming Union Budget 2016-17.
  • Rajesh Exports has won Rs. 840-crore export order from the UAE of designer range of gold and diamond-studded jewellery and medallions.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BHARATFORG BUY 786.50 775-780 748 840 3-5 Days
RELINFRA SELL MAR FUT 424 432-436 452 395 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
ASIANPAINT BUY 880 FEB CE 6.80 4-5 0.50 12 TILL EXPIRY
 
Fundamental Picks for delivery (9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
SMLISUZU BUY 734.70 869.00 1150
JYOTHYLAB BUY 269.50 272.40 330
SUPREMEIND BUY 673.75 699.30 840
Note – For our running recommendations and past performance, please click here
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