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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Sustainability above 5450 on a closing a basis will be the key for any further up move.
27 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Sustainability above 5450 on a closing a basis will be the key for any further up move.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18850 18720 18558.13 18480 18390
NIFTY 5570 5530 5476.50 5450 5420
BANK NIFTY 9630 9480 9373.55 9290 9150
CNXIT 8050 8010 7958.65 7900 7840
 
Corporate News

Sesa Goa surged 9.39% ahead of its inclusion in the S&P BSE Sensex on Tuesday, 27 August 2013.

ONGC announced that ONGC Videsh has signed definitive agreements to acquire a direct 10% participating interest in gas block.

Transformers and Rectifiers received order of Rs 126 crore from Gujarat Energy Transmission Corporation.

ITC has scheduled a board meeting on 28 August 2013, to consider a proposal for demerger of the non-engineering business comprising safety matches business and agri (forestry) business of Wimco (a subsidiary of the company) into the company. ITC along with Russell Credit, ITC's wholly owned subsidiary, holds 98.21% of the equity share capital of Wimco.

McNally Bharat Engineering received an order for design, engineering, manufacturing, erection, commissioning and supply on turnkey basis for in-pit conveyor system for a value of Rs 309 crore.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
WIPRO BUY 459.1 452-455 442 485 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
GRASIM BUY SEP FUT 2310.5 2270-2280 2220 2450 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 able to close positive at the end of the session in a volatile trading day. The market edged higher in early trade on firm Asian stocks. The market extended initial gains to hit fresh intraday high in morning trade, with the Sensex and the Nifty, both, hit their highest level in more than a week. The market trimmed gains to hit fresh intraday low in mid-morning trade. The market regained strength in early afternoon trade. Key benchmark indices slipped into the red in afternoon trade. The market regained positive terrain in mid-afternoon trade. High volatility was witnessed in late trade. The market breadth was positive.