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Equity Research Report: Religare Morning Digest

Market Outlook for the day - 6250-6350 is an important trading range, an either side break will dictate Nifty’s move in the coming sessions.
30 Dec 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - 6250-6350 is an important trading range, an either side break will dictate Nifty’s move in the coming sessions.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21370 21280 21193.58 21100 20850
NIFTY 6380 6345 6313.80 6285 6250
BANK NIFTY 11635 11540 11459.70 11385 11300
CNXIT 9680 9630 9579.10 9500 9440
 
Corporate News

Brigade Enterprises has purchased a prime property measuring 2.25 acres at Hebbal, Bangalore from Hindustan Coca-Cola Beverages for Rs 68.83 crore for developing a real estate project.

Shares of Apollo Hospitals Enterprise and Mahindra & Mahindra Financial Services were up 6.5% and 1% respectively as these two have been included by NSE for trading in its futures & options segment starting 27 December 2013

3i Infotech plans to sell assets to pay back 20-30% of its debt.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
RELCAPITAL BUY 362.30 CMP 355 380 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ITC BUY JAN FUT 325.30 321-322 317 335 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, snapping two-day winning streak. Metal and mining stocks edged lower. Shares of Sesa Sterlite dropped on reports Central Bureau of Investigation (CBI) has started a probe into possible irregularities in its stake buy in Hindustan Zinc. Most banking stocks edged lower. Among BSE sectoral indices, capital goods, consumer durables and healthcare remained investors' favourite and were up 0.66 per cent, 0.38 per cent and 0.07 per cent, respectively. The market breadth, indicating the overall health of the market, was positive.
Regenerate OTP
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