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Equity Research Report: Religare Morning Digest

Market Outlook for the day - We expect this consolidation phase to continue until the market gets a major trigger. Going ahead, 6100 is an important support level and it must be held on a closing basis.
28 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - We expect this consolidation phase to continue until the market gets a major trigger. Going ahead, 6100 is an important support level and it must be held on a closing basis.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21000 20740 20683.52 20580 20400
NIFTY 6250 6180 6144.90 6110 6050
BANK NIFTY 11130 10980 10896.50 10800 10700
CNXIT 8940 8870 8812.55 8750 8670
 
Corporate News

TVS Motor Company net profit jumped 96.59% to Rs 88.84 crore on 16.12% increase in total income from operations to Rs 1988.37 crore in Q2 September 2013 over Q2 September 2012.

Indian Overseas Bank net profit declined 16.33% to Rs 132.55 crore on 8.78% growth in total income to Rs 5999.75 crore in Q2 September 2013 over Q2 September 2012.

Tata Sponge Iron net profit declined 28.87% to Rs 18.33 crore on 4.36% decline in net sales to Rs 180.29 crore in Q2 September 2013 over Q2 September 2012.

ICICI Bank net profit rose 20.24% to Rs 2352.05 crore on 7.54% growth in total income to Rs 12979.75 crore in Q2 September 2013 over Q2 September 2012.

NMDC net profit declined 21.46% to Rs 1318.36 crore on 5.53% fall in total income to Rs 3018.29 crore in Q2 September 2013 over Q2 September 2012.

Idea Cellular profit after tax rose 13.2% to Rs 398.50 crore in Q2 September 2013 from Rs 351.90 crore (despite including Rs 154.30 crore dividend from Indus) in Q2 September 2012.

Results on October 28, 2013: Tata Elxsi, Maruti Suzuki, Ceat, SRF, Syndicate Bank, Blue Star, Dabur India
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DENABANK SELL FUT 50.35 50.8-51.2 51.75 48 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SRTRANSFIN BUY OCT FUT 565 557-561 549 578 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 once again drifted in negative zone in late trade amid volatility. Weakness is Asian and European stocks impacted sentiment. Realty stocks were the major loser for the day and its BSE indices closed more than 2% down. Capital Goods, Metal and Auto indices closed 1.61%, 1.22% and 1.19% down respectively. IT stocks gained and BSE IT index closed 1.54% up. The market breadth was negative.
 
 
Regenerate OTP
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