FAST MONEY: Reliance Industries, Indiabulls Housing among ten intraday trading tips
Reliance Industries is scheduled to report its Q4 FY18 results on April 27. The company is expected to report robust earnings that may trigger rally in the stock in Monday's trade.
Sensex today: The benchmark indices are expected to open lower on Monday after Asian markets started in muted fashion as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past. At 8:35 am, SGX Nifty was trading at 10,566.50, down 70.50 points or 0.66 per cent.
Back home, investors will keep an eye on Q4FY18 results of 15 companies, which likely to report their March quarter results. These include 3i Infotech, Bharat Financial, Cholamandalam Investment, Delta Corp, GNFC, Indiabulls Ventures, Bharti Infratel, LIC Housing, Reliance Infra, Reliance Naval and Swaraj Engines among others.
Among other global cues, on the geopolitical front, US President Donald Trump said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests.
Meanwhile, oil prices edged down in early trade but were not far from their highest since late 2014. The market had wobbled on Friday when Trump tweeted criticism of OPEC’s role in pushing up global prices, but quickly steadied. Brent crude oil futures were off 13 cents at $73.93 per barrel, while US crude eased 16 cents to $68.24.
Among Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent, with South Korea off 0.2 per cent. Japan's Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.
Rising bond yields had pressured Wall Street on Friday, though the S&P 500 still managed to end the week with a slight gain.
On Friday, Nifty ended little changed at 10,564.05, while the benchmark Sensex closed about 12 points lower at 34,415.58.
Foreign institutional investors sold scrip worth Rs 624.99 crore, while the domestic institutional investors bought stocks worth Rs 448.61 crore, provisional data with the exchanges showed.
Here are key stocks to track for intraday trade:
Indiabulls Housing (Buy)
Target: Rs 1400
Stoploss: Rs 1340
NII came in at Rs 1661 crore from Rs 1360 earlier
Profit camr in at Rs 1030 crore from Rs 841
Gross NPA reduced to 0.77% from 0.84%
Net NPA reduced to 0.34% from 0.35%
Indian Hume (Buy)
Target: Rs 370
Stoploss: Rs 340
The company received Rs 578 crore orders
Order received in Madhya Pradesh
Phoenix Mills (Buy)
Target: Rs 650
Stoploss: Rs 627
Island Star bought company's land in Bangaluru
Deal to be fixed at Rs 650 crore
Target: Rs 565
Stoploss: Rs 592
Pitampur unit received 3 reservations
Testing product received reservations
Promoters reduced stakes in the company
Reliance Industries (Buy)
Target: Rs 950
Stoploss: Rs 920
Company to reports Q4FY18 resluts on April 27
The stock may rally on expectations of good results
Morepan Lab (Buy)
Target: Rs 42
Stoploss: Rs 38.90
The company may go debt free by FY19
The stock closed near day high level on Friday
Target: Rs 35
Stoploss: Rs 33
Deal with power ministry
Target 9200 M units by FY19
AU Small Bank (Buy)
Target: Rs 670
Stoploss: Rs 648
Q4 FY18 results on April 26
Results to remain robust
Unichem Labs (Buy)
Target: Rs 280
Stoploss: Rs 255
Inspection at Ghaziabad unit completed
No reservation received
Promoters increased stake in the company
Srikalahasthi Pipe (Buy)
Target: Rs 415
Stoploss: Rs 385
Q4 FY18 results on April 28
Profit to go up by 36%
(Stocks mentioned here are for informational purpose. Consult your financial advisor)