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Equity Research Report: Religare Morning Digest

Market Outlook for the day – We may see continuation in rebound ahead but sustainability above 5770 will be crucial.
28 Jun 2013 | 07:00 AM

June 28, 2013
Religare Retail Research  
Religare Morning Digest
    Highlights for Today
Market Outlook for the day - We may see continuation in rebound ahead but sustainability above 5770 will be crucial.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 19067 18972 18876 18734 18593
NIFTY 5739 5711 5682 5642 5602
BANK NIFTY 11338 11287 11236 11175 11114
CNXIT 6722 6655 6587 6472 6357
 
Corporate News

Kalpataru Power Transmission Ltd (KPTL) has obtained new orders valued at over Rs 1,130 crore, including an overseas order valued at Rs 500 crore.

Asian Paints board fixed 31 July 2013 as the record date for 10-for-1 stock split.

Crompton Greaves bagged Rs 231 crore order from Power Grid Corporation of India.

IL&FS Transportation Network has signed a MOU with East Nippon Expressway Company (NEXCO East), a Japanese expressway development company, to work together on PPP (public-private-partnership) projects.

Economy

India’s external debt rose nearly 13% to $390 billion in 2012-13, mainly due to rise in short-term trade credit and external commercial borrowings (ECBs) on the back of high current account deficit.

March quarter current account deficit was $18.1 billion, or 3.6% of GDP, lower than expected and below the $21.7 billion deficit a year earlier. The current account gap for the full fiscal year ending in March 2013 was $87.8 billion, which was 4.8% of GDP, compared with $78.2 billion a year earlier. The balance of payments for the January-March quarter was a $300 million surplus, compared with a $600 million deficit a year earlier. For the fiscal year 2012/13, the balance of payments deficit was $2.7 billion, compared with a surplus of $2.4 billion a year earlier.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HEXAWARE BUY 82.6 80-81 77 92 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame

ICICIBANK

BUY JUL FUTS

1038.5

1030 - 1032

1015

1072

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
 
On the day of expiry, the key domestic indices edged higher and closed in the positive zone as the persistently falling rupee recovered against dollar after a latest data released by RBI,  showed that India's current account deficit (CAD) moderated sharply to 3.6% of GDP in Q4 March 2013 from a  historically high level of 6.7% of GDP in Q3 December 2012. The market was volatile as traders rolled over positions in the futures & options (F&O) segment from the near month June 2013 series to July 2013 series. In the late trade, the market breadth; indicating the overall health of the market, turned positive from negative.
 
 
 
Regenerate OTP
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