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Equity Research Report: Religare Morning Digest

Nifty found support on the neckline of the head and shoulder formation on the intraday chart (5800-5820) any further fall below this range will take the index towards the next support territory (5680-5700) levels.
30 Sep 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Nifty found support on the neckline of the head and shoulder formation on the intraday chart (5800-5820) any further fall below this range will take the index towards the next support territory (5680-5700) levels.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20000 19880 19727.27 19630 19500
NIFTY 5920 5880 5833.20 5800 5750
BANK NIFTY 10150 10000 9899.75 9780 9650
CNXIT 8260 8220 8166.55 8120 8070
 
Corporate News

Mahindra & Mahindra Ltd has announced a price increase ranging from Rs 6,000 to Rs 20,000 covering its passenger and commercial vehicles. The price hike works out to be about 2% across its product portfolio.

Bajaj Auto plans to increase the prices of its vehicles across segments due to rise in input costs.

Glenmark Pharmaceuticals received a small research fee payment from Forest Laboratories Inc. on collaboration for the development of novel mPGES-1 inhibitors.
 
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RELCAP SELL FUT 332.2 334-335 346 310 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HAVELLS BUY OCT FUT 637.4 628-631 621 655 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 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
 
After a dreary trading session; markets edged lower, weakness in European stocks also weighed on sentiments. Combative comments from the Reserve Bank of India governor Raghuram Rajan on Thursday, 26 September 2013, that inflation continued to remain high also adversely hit the markets. Metals, Mining, Capital goods, Banking and Realty were the major contributors to this dull day. Bond prices dropped again.
 
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