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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Volatility is expected to be at its peak following FOMC meet and January month derivatives expiry.
30 Jan 2014 | 07:00 AM

    Highlights for Today

Market Outlook for the day Volatility is expected to be at its peak following FOMC meet and January month derivatives expiry.

 

Key Indices – Levels to watch out for the day

INDEX (Spot)

RESISTANCE 2

RESISTANCE 1

LTP

SUPPORT 1

SUPPORT 2

SENSEX

20850

20750

20647.30

20550

20450

NIFTY

6195

6160

6120.25

6085

6040

BANK NIFTY

10675

10540

10437.75

10330

10220

CNXIT

10045

9970

9896.70

9820

9740

 

Corporate News

Bharti Airtel reported Q3 net profit of Rs 610 crore as compared to Rs 284 crore in the same period last year, recording a gain of 115%. Consolidated net revenue grew 13.3% to Rs 21,939 crore.

Hero MotoCorp rose 2.85% on BSE after the company unveiled five two-wheeler models for the Indian market.

GAIL (India) net profit surged 30.7% to Rs 1679.40 crore on 27.79% growth in total income to Rs 16246.71 crore in Q3 December 2013 over Q3 December 2012.

Shriram Transport Finance Company consolidated net profit declined 13.44% to Rs 324.85 crore on 22.06% growth in total income to Rs 2197 crore in Q3 December 2013 over Q3 December 2012.

McNally Bharat Engineering said its Singapore-based subsidiary has sold its entire stake of 41.66% in Hayward Tyler Group Plc UK for 12.3 million pounds.

Mindtree will expand its presence in the US market by opening two more delivery centres and hiring 400 professionals to meet the increasing client demand.

Results on 30th January 2014: Bank of India, Hero Motocorp, Hindustan Construction, Jindal Saw, JSW Energy, Neyvelli Lignite, Siemens, Sintex, Voltas.

 

Trading/ Investment Ideas

 

Technical Calls

Company
Name

Recommendation

CMP

Initiation
Range

Stop
loss

Target

Time
Frame

LICHSGFIN

SELL FEB FUT

201

202-203

206

192

3-5 DAYS

 

Derivatives Call

Company
Name

Recommendation

CMP

Initiation
Range

Stop
loss

Target

Time
Frame

ASIANPAINT

BUY FEB FUT

485.30

481-482

473

499

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, State Bank of India

 

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 closed negative in late trade. Market edged higher in early trade on firm Asian stocks, it was volatile during the day trade but trimmed gains in late hour trade. Among BSE sectoral indices buying support witnessed in Pharma and IT while Bank, Metal and Realty indices closed in red. Hero MotoCorp advanced after the company during market hours informed that it has unveiled five two-wheeler models for the Indian market. The market breadth, indicating the overall health of the market, turned negative from positive in late trade.

Regenerate OTP
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