Daily Indian Stock Market Outlook: FairWealth Securities

Daily Indian Stock Market Outlook: FairWealth SecuritiesPositive global cues led to continuous buying in AUTO, CAPITAL GOODS and POWER STOCKS which took indices into smart gains. SENSEX closed at 16922, up 264 points and Nifty at 5078, up 78 points from the previous close. CNX MIDCAP index was up 1.3% and BSE SMALLCAP index was also up 1.3%. The market breadth was positive with advances at 944 against declines of 318 on the NSE. Top gainers included RELINFRA, BHARTIARTL, TATAMOTORS, CIPLA, HEROHONDA and HINDALCO. Top losers are listed as ONGC, PNB, POWERGRID and BPCL.

Next Day Trading Session:

In the next session NIFTY may gat resistance around 5111 and 5160, while 5040 and 5000 may act as good support levels. Traders are suggested to stay long only as long as NIFTY sustains 5020 level, and also to remain cautious below 4960. CAPITAL GOODS and AUTO may attract buying while FINANCE and ENERGY SECTOR may stay weak.

Fundamental View: Fairwealth Research Team

Weekly Techno-Funda Calls

We are not providing WeeklyTechno Funda calls due to volatility in global markets

Fundamental Picks

Investors having a horizon of 6-12 months can buy the following companies. The companies have a potential to give higher returns than index over a long term.

Corporate Highlights

Ranbaxy Laboratories has launched a generic version ofof Prasugrel in India. The product, called Prasita, is an antiplatelet agent for the prevention of atherothrombotic events in patients with acute coronary syndrome undergoing percutaneous coronary intervention. Prasita is solely marketed by Ranbaxy in India.

Hindustan Construction Company announced the divestment of 74% stake in its new age business destination, "247Park" in Mumbai of worth Rs 775 crore to IL&FS Milestone Fund. . DQ Entertainment International has announced that the company has signed an exclusive broadcast agreement with leading children's entertainment channels Cartoon Network and POGO, both part of Turner International India Pvt Ltd (Turner), for the first and second sequel of animated feature Balkand.

Larsen & Toubro's (L&T) Metallurgical, Material Handling & Water Operating Company, a part of its construction division has secured orders aggregating Rs747 crore from various customers like Coal India, Indiabulls Power and Hindalco Industries.

Nagarjuna Construction Company has secured new orders aggregating Rs 791 crore. The company secured two orders valued at Rs 309 crore from the Ministry of Health & Family Welfare, New Delhi for construction of Medical College and Hostel Complex at AIIMS in Patna to be completed over a period of 18 months.

Disclaimer: The above mentioned ideologies are based on the research done at Fairwealth research department. Fairwealth securities (P) Ltd will not be responsible for any kind of losses incurred by any parteither directly or indirectly based on our research results, though we have presented to the best of our knowledge.