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Equity Research Report: Religare Morning Digest

We reiterate our view to concentrate on domestic factors for further cues. In near future, volatility is expected to inch higher due to Oct series F&O expiry scheduled coming Thursday.
28 Oct 2015 | 07:00 AM

    Highlights for Today
 
Market Outlook for the day -We reiterate our view to concentrate on domestic factors for further cues. In near future, volatility is expected to inch higher due to Oct series F&O expiry scheduled coming Thursday.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 27475 27360 27253.44 27090 26980
NIFTY 8300 8265 8232.90 8180 8150
BANKNIFTY 18120 17940 17806.30 17680 17520
CNX-IT 11800 11675 11583.55 11440 11300
News -
  • Maruti Suzuki Indiareported a net profit of Rs. 1,225.6 crore for the second quarter ended September 30, 2015, up 42% compared with Rs. 862.54 crore in the corresponding period last year. Net sales of the company also grew 13% to Rs. 13,574.81 crore during the July-September quarter against Rs. 11,996.33 crore in the same period last year.
  • Lupin Ltdreported second-quarter net profit much below market estimates, due to lower revenue from its largest market, the United States. Net profit for the July-September quarter slumped 35 per cent to Rs. 409 crore ($62.97 million). US sales fell about 9% to Rs. 1,155 crore.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
WIPRO BUY 575.10 570 - 574 560 610 3-5 Days
SAIL SELL NOV FUT 54.3 55 - 55.5 57 51 3-5 Days
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Price
Stop
loss
Target Time
Frame
NIFTY BUY 8250 OCT PE 38.50 38 14 60 EXPIRY
SELL 8150 OCT PE 8.95 10
 
Fundamental Picks for delivery ( 9 Months - 1 Year)
Company
Name
Recommendation CMP Initiation
Range
Target
KOTAKBANK BUY 660.45 705.10 900
Note – For our running recommendations and past performance, please click here
Research Disclaimer
 
Regenerate OTP
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