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Equity Research Report: Religare Morning Digest

In line with yesterday's move Nifty scaled upwards. Going ahead, there are higher chances that 5550 levels will be tested in the near term.
26 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - In line with yesterday's move Nifty scaled upwards. Going ahead, there are higher chances that 5550 levels will be tested in the near term.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18790 18640 18519.44 18370 18220
NIFTY 5550 5510 5471.75 5420 5370
BANK NIFTY 9700 9560 9470.10 9330 9200
CNXIT 8000 7940 7893.20 7840 7760
 
Corporate News

Reliance Infrastructure has received an approval from the Maharashtra Electricity Regulatory Commission to recover past arrears aggregating to Rs 5550 crore over the next six years.

Hexaware Technologies jumped near to 3% on reports that Baring Private Equity Asia is set to buy a controlling stake in the company for about $400 million.

Jaiprakash Associates reported that company is in final stage to sell stake in 4.8 million tonnes cement unit in Gujarat to UltraTech Cement.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HDFCBANK BUY 607.55 600-605 595 630 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RCOM SELL AUG FUT 116.3 120-121 126.5 110 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 rose over 1.1 per cent at the closing session led by capital goods, banking, oil & gas and consumer durables stocks amid mixed European cues. After initial volatility strong buying support seen in the market and other than BSE Realty index all sectoral indices closed in green. Market touched day high in late hour trade. The market breadth, indicating the overall health of the market, was positive.
 
Regenerate OTP
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