Sensex 26751.73 176.08 0.66%
Nifty 7985.9 58.15 0.73%
|20-Oct-2014||Rural Elec.Corp.||274.3||Buy||3 Days||282|
|17-Oct-2014||Motherson Sumi||373.65||Buy||4 Days||397|
|14-Oct-2014||Axis Bank||397.1||Buy||4 Days||415|
Kotak-Mah-Bank at 1003.85 | Target 1050 | SL 1002
Disclaimer : Ideas given may have been recommended to our clients in advance. India Infoline takes no responsibility for any loss suffered.
* All prices are in Indian Rupees
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The outlook is a positive start. The Nifty will hope to hit the 8000 mark ahead of the long weekend. Customary trading will be done during Muhurat trading late in the evening tomorrow. Attention will be on Wipro numbers later in the day.
The opening is positive start. The Dow Jones rose 0.12% while the S&P 500 added 0.91%. Nasdaq Composite added 1.35%. IBM shares fell 7% after third-quarter earnings fell well short of Wall Street expectations.
The indices are set to open with a gap-up after 4 weeks of declines. With no major elections in over a year, the government will be ready to take some tough measures if needed.
HMCL reported an OPM of 13.5% in Q2 FY15 was in line with our expectations. OPM fell 102bps yoy while it remained flat sequentially.
Regionally, while growth in Europe was muted at 2.7% qoq, US grew at a robust pace of 5.7% qoq.
Overall loan growth at 20% yoy was higher than our expectation of 17% yoy. Sequential growth in the book stood at healthy 5% in what generally has been a seasonally weak quarter for the bank.
|Company||CMP (Rs.)||Chg (%)||Supp 1||Supp 2||Pivot||Res 1||Res 2|
|Kotak Mah. Bank||1,050.60||3.64||1,000.03||991.57||1,008.47||1,016.93||1,025.37|
|Dr Reddy's Labs||3,029.25||2.19||2,938.23||2,910.47||2,956.12||2,983.88||3,001.77|
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