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Equity Research Report: Religare Morning Digest

There are higher chances of a bounce back towards 5500-5550 levels. But stability of India Rupee against US Dollar will be the key for any move in the coming sessions.
23 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - There are higher chances of a bounce back towards 5500-5550 levels. But stability of India Rupee against US Dollar will be the key for any move in the coming sessions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18620 18470 18312.94 18140 18000
NIFTY 5510 5460 5408.45 5350 5300
BANK NIFTY 9560 9370 9268.90 9150 9000
CNXIT 7870 7820 7777.50 7730 7660
 
Corporate News

Bajaj Corp Ltd has acquired Ozone Ayurvedics’ Nomarks brand for an undisclosed amount. With the acquisition, the company aims to strengthen its position in the personal care segment.

L&T has secured orders valued at Rs 1,504 crore across business segments in August. The power transmission and distribution segment got orders worth Rs 1,071 crore.

JSW Steel will hike its product prices by 4% to 6% from 1 September 2013, following a steep rise in raw material cost. JBF Industries surged after the company's board approved buyback of equity shares.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
INFY BUY 3020.2 3000-3010 2980 3090 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BPCL BUY AUG FUT 296.5 290-292 282 322 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps ACC, Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC,
L&T, TCS, Adani Ports&SEZ
Midcaps & Small Caps 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
 
Key benchmark indices surged after data showed a pickup in manufacturing activity in euro zone and China. Metal and mining stocks spurted after a report showed China's manufacturing unexpectedly expanded in August. Steel shares were in demand on reports steel major JSW Steel will hike product prices by 4% to 6% from 1September 2013, following a steep rise in raw material cost. IT stocks edged higher on weak rupee. The market regained strength to hit fresh intraday high in late trade.
 
 
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