FAST MONEY: Jet Airways, Jamna Auto among top five intraday trading ideas
S&P500 e-mini futures rose to a five-month high on expectations of solid earnings growth among US firms despite the trade war threat.
The Sensex and Nifty are expected to extend Thursday's gains today tracking positive trend in Asian markets following gains on Wall Street overnight, as concerns over an escalating US trade war with China took a breather.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, building on a 0.6 percent rise on Thursday, after US stocks ended the day higher. Australian shares also gained 0.2 percent, while Japan's Nikkei stock index was 1.2 percent higher.
On Thursday, the Dow Jones Industrial Average rose 0.91 percent to 24,924.89, the S&P 500 gained 0.87 percent to 2,798.29 and the Nasdaq Composite added 1.39 percent to 7,823.92.
On Friday, S&P500 e-mini futures rose to a five-month high on expectations of solid earnings growth among US firms despite the trade war threat.
Here are key intraday trading ideas:
1) HCL Tech (Buy)
Target: Rs 1035
Stoploss: Rs 1000
HCL Tech approved buyback
Buyback will be for 3.6 crore shares at Rs 1,100 per share
HCL Tech will spend Rs 4000 crore on buyback
2) Tata Chemicals (Buy)
Target: Rs 730
Stoploss: Rs 705
The stock found support after two-month fall
Short-covering pushed stock higher yesterday
3) Shanti Gear (Buy)
Target: Rs 136
Stoploss: Rs 130
Volumes jumped above two-week average yesterday
The stock has been trading higher for three sessions in a row
4) Jet Airways (Buy)
Target: Rs 352
Stoploss: Rs 340
The stock is in F&O ban
Short-covering is possible today
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5) Jamna Auto (Buy)
Target: Rs 93
Stoploss: Rs 86
IDBI Capital has buy rating with target price of Rs 107
EBITDA expected to grow 25% each year by FY20.
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)