Markets extended the prevailing up move and gained nearly a percent, tracking favorable local cues - Religare Broking
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/e718b8c8646cf0aba0dd2286b2f9e05f.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty Outlook
Markets extended the prevailing up move and gained nearly a percent, tracking favorable local cues. Participants reacted positively to the macroeconomic data (IIP and CPI Inflation) in early trade which further strengthened with buying in auto, metals and energy stocks as the session progressed. Consequently, the Nifty ended with gains of 0.9% to close at 18,162 levels. A mixed trend was witnessed on the broader front wherein the midcap ended up by 1.5% while the smallcap closed flat.
Markets will first react to Infosys, Wipro and Mindtree numbers on Thursday. Besides, we’ve weekly derivative expiry which will induce volatility in the market.
We were eyeing 18,200 in Nifty and it has almost tested the same. It may see some consolidation but the bias would remain on the positive side. We recommend continuing with the “buy on dips” approach with a focus on stock selection.
News
* ABB announced that it will provide JSW its technical expertise to set up a 24 km long conveyor system saving nearly 3000 road trips and reducing carbon emissions significantly.
* Hero MotoCorp has partnered with Gilera Motors Argentina to reinvigorate and expand its operations in Argentina – one of the key markets in South America.
* UltraTech Cement announced that it has signed a non-binding memorandum of understanding with Punjab Renewable Energy Systems Pvt. Ltd. This deal will help UltraTech to significantly scale-up the use of biomass in place of fossil fuel like coal in manufacturing operations.
Derivative Ideas
NIFTY FUT has added around 1% in open interest as fresh long build up was seen in it. Current chart pattern also indicates further upmove in its price. We suggest buying call option as per below levels.
Strategy:- Buy NIFTY 21st OCT 18200 CE@110-120, sloss at 85, trgt 150.
Investment Pick - The Ramco Cements Ltd
Ramco Cements Ltd (TRCL) is the fifth-largest cement producer in India and the most popular cement brand in South India. The company is six decades old and manufactures ready mix concrete, dry mortar products and various grades of cement. It has a presence across ten states of India with four integrated plants and six grinding units. Apart from South India, it is growing its presence in East India, Sri Lanka and the Maldives.
We have a positive outlook given its strong brand name, leadership position in South India and product portfolio. In addition, its focus on expanding capacity, increasing utilization levels and cost-saving initiatives would further help in improving profitability. We estimate its Revenue/EBITDA/PAT to grow at a CAGR of 12%/13.5%/15.5% respectively over FY21-24E and have initiated a Buy on the stock with a target price of Rs 1,237.
Buy - The Ramco Cements Ltd @ 9-12 Months CMP 982.7 TGT 1,237
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaime
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hydrogen.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Honda India Foundation (HIF) signs MOU with Marriot Group of Hotels.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/accel57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee Dollar.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)