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Equity Research Report: Religare Morning Digest

Market Outlook for the day – As per broader chart pattern, Nifty will continue to trade with negative bias till it’s sustaining below 5770 mark.
27 Jun 2013 | 07:00 AM

June 27, 2013
Religare Retail Research  
Religare Morning Digest
    Highlights for Today
Market Outlook for the day - As per broader chart pattern, Nifty will continue to trade with negative bias till it’s sustaining below 5770 mark.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18860 18700 18552.12 18500 18340
NIFTY 5685 5625 5588.70 5570 5530
BANK NIFTY 11350 11200 11066.55 11000 10850
CNXIT 6450 6400 6378.35 6320 6275
 
Corporate News

Tech Mahindra has charted out a strategy to increase its revenue to $5 billion by 2015. Post-merger, the combined entity has revenues of $2.7 billion.

Dr Reddy’s Laboratories has launched Lamotrigine extended-release Tablets in the US market. The tablets are a therapeutic equivalent generic version of Lamictal XR (lamotrigine) which had combined US sales of approximately $300.5 million for the 12 months ended in April 2013.

ING Vysya Bank plans to raise Rs 899 crore under tier-I capital via a qualified institutional placement (QIP) issue. The bank is issuing 14.39 million equity shares with a face value of Rs 10 each to qualified institutional buyers. The bank fixed the floor price at Rs 624.55 per equity share.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
COALINDIA SELL JULY FUT 289.55 292-293 298 278 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 reversed intraday gains and hit fresh intraday low in late trade with the market sentiment hit adversely after the rupee hit record low below 60 against the dollar. The markets remain volatile as traders rolled over positions in the futures & options (F&O) segment from the near month June 2013 series to July 2013 series. The market breadth, indicating the overall health of the market, was negative. IT stocks rose on positive economic data in the US and depreciating rupee, Metal stocks edged lower. Shares of power generation and power distribution companies also edged higher.
 
 
 
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