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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Thursday's move will predominantly be dictated by the expiration of September month derivatives contracts.
26 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Thursday's move will predominantly be dictated by the expiration of September month derivatives contracts.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20250 20100 19856.24 19750 19630
NIFTY 6000 5950 5873.85 5840 5800
BANK NIFTY 10300 10150 10081.70 10000 9900
CNXIT 8300 8250 8187.55 8120 8070
 
Corporate News

Suven Life Sciences Ltd has obtained three product patents, one each from New Zealand, Singapore and South Korea, for its New Chemical Entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases.

Power Grid has approved the investment of about Rs 2,255 crore to augment/strengthen the transmission systems in the next three years.

Bosch Ltdplans to suspend the manufacturing operations at its Jaipur plant from tomorrow for five days. This is being done to adjust production to meet the demand for products and to avoid unnecessary build-up of inventory.
 
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SESAGOA BUY 188.75 185-186 181 196 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ONGC BUY OCT FUT 283.2 280-281 276 293 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
 
A day ahead of expiry, markets registered a weak trading session. A bout of initial volatility was witnessed as the traders rolled over positions in the futures & options segment from the near month September 2013 series to October 2013 series consequently, the benchmark indices alternately swung between gains and losses. Later the markets moved in a narrow range only. Weakness continued on the bourses in afternoon trade as European stocks opened lower.
 
Regenerate OTP
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