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Equity Research Report: Religare Morning Digest

Important support for Nifty is placed at 5800 spot levels, till the index is holding above this level on a closing basis the bias will be on the positive side.
25 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Important support for Nifty is placed at 5800 spot levels, till the index is holding above this level on a closing basis the bias will be on the positive side.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20250 20100 19920.21 19750 19630
NIFTY 6000 5950 5892.45 5840 5800
BANK NIFTY 10500 10300 10175.90 10000 9900
CNXIT 8400 8275 8169.10 8100 8020
 
Corporate News

PFC is all set to float requests for qualification (RFQs) for two mega projects – Cheyyur in Tamil Nadu and Bhedabahal in Odisha.

Tata Motors to take a five-day block closure at its Jamshedpur plant from September 26. This will be the third block closure for the company within less than a month time.

ONGC Mangalore Petrochemicals Ltd, promoted by ONGC Ltd and MRPL, reported that it will make its first shipment of products by January-end. OMPL is being set up on 442 acres in Mangalore Special Economic Zone with a project cost estimate of Rs 5,750 crore.

Unitech Ltd has inked a multi-crore deal to lease space at one of its IT SEZs in Gurgaon to MNC human resource firm Aon Hewitt.

Lupin Ltdsigned an agreement with Onset Dermatologics under which it will market the latter’s skin disease treatment medicine Locoid Lotion in the US market.
 
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HINDALCO SELL OCT FUT 113.65 116-117 121 106 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
POWERGRID SELL OCT FUT 100.6 102-103 105 94 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 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
 
Markets have closed the session with marginal gains as higher European stocks supported the domestic bourses. Bond prices also rose after the government kept the borrowing target for the fiscal year through March 2014 unchanged at Rs 5.79 lakh crore ($92.49 billion). Stocks from the Capital goods basket edged higher, Pharma stocks remain mixed, with Dr Reddy's Laboratories hitting record high, Auto and Power stocks also joined the gainers parade , on the flip side stocks from IT and Metal basket were the key laggards.