{LONGTERMINVESTORS} : Religare brings you Morning Digest for September 1, 2016

 

September 1, 2016     Religare Morning Digest – Highlights for today   Market Outlook for the day -We reiterate our 8850 target in Nifty and suggest keeping stock specific trading approach now. Key Indices – Levels to watch out for the day INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2 SENSEX 28800 28650 28452.17 28150 28000 NIFTY 8850 8800 8786.20 8740 8700 NIFTYBANK 20000 19900 19784.40 19600 19500 NIFTYIT 10700 10625 10533.95 10400 10300 News - Zee Entertainment announced the sale of its loss making sports arm to Sony Pictures for Rs. 2,600 Cr approximately. The sports business made a net loss of 37.2 Cr in FY16. The deal consists of acquisition of 10 TEN Sports channels operating in various countries. The deal will push up Zee's earnings and margins. Bharat Petroleum Corporation's Q1 results showed an 11% rise in net profit Rs. 2,620.5 Cr, as against Rs. 2,360.7 Cr in the corresponding period last fiscal. Revenue declined by 3% to Rs. 57,015.8 Cr in the quarter compared with Rs. 58,818.4 Cr in same period last year. Operational margin expanded by 37 basis points to 6.87% for the quarter. The Union Cabinet eased rules for quicker settlements of disputes in the construction sector. In a bid to activate stranded projects, the cabinet has asked government agencies and public bodies to pay 75% of the money in cases of such disputes. The construction sector, which contributes 8% of the country's GDP, will get a boost as the move will enhance liquidity in the sector. Stocks namely; HCC, Simplex Projects, Gammon India, ARSS Infrastructure, GVK Power & Infra, Punj Lloyd, IVRCL, Simplex Infrastructure were up 5%-20%.     Trading/ Investment Ideas Technical Calls Company Name Recommendation CMP Initiation Range Stop loss Target Time Frame HINDUNILVR BUY 917.05 910-920 894 975 4-6 Days NCC BUY 84.90 84-86 82 95 4-6 Days   Derivatives Call Company Name Recommendation CMP Initiation Price Stop loss Target Time Frame INDUSINDBK BUY SEPT FUTS 1192 1184-1188 1160 1260 4-6 Days   Fundamental Picks for delivery (9 Months - 1 Year) Company Name Recommendation CMP Initiation Range Target FORCEMOT BUY 3108.40 3088 3940 TVTODAY BUY 307.95 300 388 TALWALKARS BUY 257.10 252 328 Note – For our running recommendations and past performance, please click here **Please note that the given technical and derivative recommendations are "valid for taking position" if they trades within the given range on the recommended date. Forgot Password  |  Instant Fund Transfer  | How to Trade Online - Demo  |  Mobile Trading - Demo   Research Disclaimer

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