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Equity Research Report: Religare Morning Digest

Market Outlook for the day – The counter rally is expected to continue till 5500-5550 levels but for that to happen; stability in the domestic currency will remain the key factor.
30 Aug 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day -The counter rally is expected to continue till 5500-5550 levels but for that to happen; stability in the domestic currency will remain the key factor.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 18670 18520 18401.04 18250 18130
NIFTY 5500 5450 5409.05 5360 5320
BANK NIFTY 9200 9020 8904.60 8780 8630
CNXIT 8400 8320 8246.90 8170 8100
 
Corporate News

Credit Analysis and Research gained 3.6% to Rs 545 at 15:18 IST on BSE after the board has given its consent to create, issue, offer, and allot, on a preferential basis to Ascent India Fund III.

L&T consortium of the company and Pipavav Defence and Offshore Engineering Company bagged an order worth over $170 million from ONGC.

Container Corporation of India board will meet on 12 September 2013, to consider a 1:2 bonus issue.

Jindal Steel and Power board will meet on 30 August 2013, to consider a proposal for buyback of equity shares.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AUROPHARMA BUY 181.6 180-181 176 195 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
TATACHEM BUY SEP FUT 248.4 ABOVE 250 244.5 263 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
 
A recovery in the battered rupee, a slide in oil prices triggered by US President Barack Obama's comments on that he hasn't yet decided whether to launch an attack on Syria and weaker- than-expected report on US durable-goods orders which raised expectations that the Federal Reserve may delay plans to reduce its monetary stimulus to the US economy, aided a rally in Indian stocks. The rupee rose on the back of the Reserve Bank of India's (RBI) decision on Wednesday to immediately start a facility to meet the daily dollar requirement of the country's three state-run refiners. The S&P BSE Sensex reclaimed the psychological 18,000 mark. The market breadth was positive.