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Equity Research Report: Religare Morning Digest

Market Outlook for the day - For the fourth consecutive trading session indecisiveness continued in the benchmark index. This consolidation is expected to continue in the coming sessions as well till the index gets any meaningful trigger to accelerate further.
25 Oct 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - For the fourth consecutive trading session indecisiveness continued in the benchmark index. This consolidation is expected to continue in the coming sessions as well till the index gets any meaningful trigger to accelerate further.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21030 20900 20725.43 20650 20530
NIFTY 6260 6220 6164.35 6140 6100
BANK NIFTY 11130 11050 10902.45 10830 10730
CNXIT 8800 8750 8681.65 8650 8600
 
Corporate News

Ipca Laboratories net profit rose 3% to Rs 129.45 crore on 10% growth in total income to Rs 852.03 crore in Q2 September 2013 over Q2 September 2012.

Kotak Mahindra Bank reported a net profit rise of 25.74% to Rs 352.54 crore on 13.56% increase in total income to Rs 2,469.46 crore in Q2 September 2013 over Q2 September 2012.

Punj Lloyd’s wholly-owned Singapore based subsidiary has sold its entire shareholding in Olive Group Capital for a total consideration of $20 million.

Jet Airways posted a net loss of Rs 891.01 crore in Q2 September 2013, higher than net loss of Rs 99.67 crore in Q2 September 2012.

Ambuja Cements net profit fell 45.4% to Rs 166 crore on 7.4% decline in net sales to Rs 2005 crore in Q3 September 2013 over Q3 September 2012.

Results on October 25, 2013: Adani Power, Essar Oil, Gail, IOB, ITC, Just Dial, Welspun India, Wockhardt. IDBI Bank, ICICI Bank, Karur Vysya Bank
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
BHEL SELL FUT 138 139-140 143 130 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
NTPC BUY OCT FUT 143.9 142-143 139 151 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
 
Key benchmark indices closed negative in a choppy trading session. Slide in index heavyweights in Reliance Industries (RIL) and Infosys pulled the market down. Market reversed direction after an initially rally took both these benchmark indices to their highest level in more than 35 months. IT, Power and Realty stocks dragged and its BSE indices closed 1.77%, 1.14% and 1.12% down respectively. The market breadth was negative.
 
Regenerate OTP
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