FAST MONEY: Axis Bank, Cipla among 10 intraday trading tips
Wall Street: The Dow Jones Industrial Average rose 238.51 points, or 0.99 per cent, to 24,322.34, the S&P 500 gained 27.54 points, or 1.04 percent, to 2,666.94 and the Nasdaq Composite added 114.94 points, or 1.64 per cent, to 7,118.68.
Sensex today: The benchmark indices are expected to open higher tracking positive trend in Asian markets, which edged higher on Friday, after US equities were buoyed by solid quarterly earnings and a rebound in technology stocks.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, while Japan’s Nikkei gained 0.4 per cent.
South Korea’s KOSPI briefly rose more than 1 per cent and set a one-month high, helped partly by hopes that a summit meeting between the leaders of North and South Korea would end their decades-long conflict and ease tensions over North Korea’s nuclear weapons programme.
After paring some of their gains, South Korean equities were up 0.7 per cent, while the South Korean won rose 0.3 percent against the dollar in onshore trade.
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US stocks advanced on Thursday with each of Wall Street’s major indices ending the session 1 per cent or higher.
The Dow Jones Industrial Average rose 238.51 points, or 0.99 per cent, to 24,322.34, the S&P 500 gained 27.54 points, or 1.04 percent, to 2,666.94 and the Nasdaq Composite added 114.94 points, or 1.64 per cent, to 7,118.68.
Here are key intraday trading tips:
1. Axis Bank (SELL)
Target: Rs 480
Stoploss: Rs 497
Q4 losses at Rs 2,190 crore
Q4 gross NPA at 6.77% from 5.28% (QoQ)
Q4 net NPA at 3.40% from 2.56% (QoQ)
Q4 provisioning at Rs 7,180 crore from Rs 2,580 crore
Company to not declare dividend
2. Cipla (Buy)
Target: Rs 608
Stoploss: Rs 594
The stock is trading above all key averages
Buying continued for second week in row
3. BL Kashyap (Buy)
Target: Rs 51.5
Stoploss: Rs 49
Buying continued in realty stocks
The stock trading above all key averages
4. MOIL (Buy)
Target: Rs 215
Stoploss: Rs 207
Deal done with steel ministry for FY19
5. Balaji Amines (Buy)
Target: Rs 725
Stoploss: Rs 700
Buying in chemical shares
Results have been good on operating margins consistently
6. Raymond (Buy)
Target: Rs 1128
Stoploss: Rs 1100
Buying possible after yesterday's fall
Robust Q4 results
7. Edelweiss (Buy)
Target: Rs 288
Stoploss: Rs 278
Buying in broking shares
The stock registered heavier volumes than two-week average
8. LIC Housing (Buy)
Target: Rs 570
Stoploss: Rs 540
Buying in housing finance companies
Recovery from the lower levels
9. Sun Pharma (Buy)
Target: Rs 530
Stoploss: Rs 507
HSBC has a buy rating on the stock
Target price at Rs 650 by HSBC
10. IRB Infra (Buy)
Target: Rs 268
Stoploss: Rs 258
The stock snapped three-day losses
Stock registered gains with heavy volumes in the last few hours of trade.
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)