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11 Dec 2016 | 3:50 PM
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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Nifty has formed a broadening formation on the intraday chart with range 6220-6350, an either side break will decide the indices move for the week ahead.
31 Dec 2013 | 07:01 AM

    Highlights for Today
Market Outlook for the day - Nifty has formed a broadening formation on the intraday chart with range 6220-6350, an either side break will decide the indices move for the week ahead.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21310 21230 21143.01 21030 20950
NIFTY 6345 6320 6291.10 6255 6220
BANK NIFTY 11590 11470 11376.00 11260 11150
CNXIT 9590 9540 9499.60 9440 9380
 
Corporate News

Idea Cellular has received shareholders' nod for raising the ceiling on investment in the company by foreign institutional investors to 49% from 24%.

Trent rose 2% to Rs 1257 on BSE on report the Department of Industrial Policy and Promotion has approved UK-based Tesco's application to invest in Trent Hypermarket.

UPL’s board approved the buyback of upto 1.40 crore equity shares of the company at a maximum price of Rs 220 per share, upto an aggregate amount not exceeding Rs 308 crore, from the open market through stock exchanges.

Welspun Corp’s subsidiary has entered into a share sale agreement with Leighton Group to sell its entire stake in Leighton Welspun Contractors India.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
INDIACEM SELL FUT 59.65 CMP 61 57 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
HDFCBANK BUY JAN FUT 676.20 672-673 659 705 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 after Reserve Bank of India (RBI) Governor Raghuram Rajan said that the commencement of tapering by the US Federal Reserve will mean a repricing of certain assets with consequent volatility in the global financial markets and that a potential additional source of uncertainty for India is the coming general election. Investor sentiment was hit adversely after the RBI's latest financial stability report (FSR) said that the risks to the Indian banking sector have further increased since the publication of the previous FSR in June this year. Banking stocks declined. IT stocks dropped on profit booking after recent strong gains.
 
Regenerate OTP
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