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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Going ahead, we are not expecting much downside, 6050-6070 will act as important support territory for the index.
29 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Going ahead, we are not expecting much downside, 6050-6070 will act as important support territory for the index.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20800 20660 20570.28 20450 20360
NIFTY 6180 6130 6101.10 6060 6030
BANK NIFTY 11025 10900 10773.20 10700 10550
CNXIT 8900 8850 8783.20 8700 8620
 
Corporate News

Ajanta Pharma net profit surged 155% to Rs 56 crore on 50% growth in revenue from operations to Rs 280 crore in Q2 September 2013 over Q2 September 2012.

Neyveli Lignite Corporation net profit declined 28.3% to Rs 240 crore on 2.5% growth in net sales to Rs 1382.82 crore in Q2 September 2013 over Q2 September 2012.

JSW Energy net profit fell 35.82% to Rs 163 crore on 2.5% decline in total income from operations to Rs 2025 crore in Q2 September 2013 over Q2 September 2012.

Hindustan Unilever net profit rose 13.24% to Rs 913.80 crore on 9.6% rise in net sales to Rs 6747.20 crore in Q2 September 2013 over Q2 September 2012.

Colgate-Palmolive (India) net profit declined 24.51% to Rs 109.52 crore on 16% growth in net sales to Rs 895.70 crore in Q2 September 2013 over Q2 September 2012.

Just Dial net profit rose 97.93% to Rs 28.66 crore on 28.56% rise in net sales to Rs 112.66 crore in Q2 September 2013 over Q2 September 2012.

Results on October 29, 2013: Alstom India, JSW Steel, Hawkins Cooker, Marico, Shriram Transport, Ranbaxy, Bank of Mah., Pidilite Ind., Torrent Power, NTPC

Event on 29 Oct: RBI Monetary Policy (11.00 AM)
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
CROMPGREAV SELL FUT 94.8 95.5-96 97.5 92 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
IOC BUY OCT FUT 199.6 198-199 195 206 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 edged lower on the first trading session of the week as the Reserve Bank of India (RBI) is expected to raise its main lending rate viz. the repo rate by 25 basis points after a monetary policy review on 29 October 2013, to rein in inflation. FMCG stocks dropped. FMCG major Hindustan Unilever (HUL) edged lower in choppy trade after results. Metal and mining stocks edged lower. The market breadth, indicating the overall health of the market, was negative.
 
Regenerate OTP
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