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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Nifty is expected to trade with a sideways to negative bias on Thursday. However, volatility will tend to remain on higher side due to F&O expiry.
26 Dec 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Nifty is expected to trade with a sideways to negative bias on Thursday. However, volatility will tend to remain on higher side due to F&O expiry.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 22000 21100 21032.71 20970 20850
NIFTY 6325 6290 6268.40 6240 6200
BANK NIFTY 11620 11400 11330.65 11200 11000
CNXIT 9500 9455 9391.50 9350 9300
 
Corporate News

Hindustan Construction Company has won a contract worth Rs 1597 crore from THDC India to construct Vishnugad Pipalkoti Hydro Electric Power project in Chamoli district of Uttrakhand.

Yes Bank raised $150 million from International Finance Corporation, Washington, a member of the World Bank Group, for tenor of up to 7 years.

Gayatri Projects reported that the stake of its wholly owned subsidiary -- Gayatri Energy Ventures- in NCC Power Projects may get reduced to below 45%.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
VOLTAS BUY 117.10 CMP 113 125 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
IDFC BUY JAN FUT 107.6 105-106 102 115 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 edged lower, snapping two-day winning streak. Metal and mining stocks edged lower. Shares of Sesa Sterlite dropped on reports Central Bureau of Investigation (CBI) has started a probe into possible irregularities in its stake buy in Hindustan Zinc. Most banking stocks edged lower. Among BSE sectoral indices, capital goods, consumer durables and healthcare remained investors' favourite and were up 0.66 per cent, 0.38 per cent and 0.07 per cent, respectively. The market breadth, indicating the overall health of the market, was positive.
Regenerate OTP
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