FAST MONEY: HCL Tech, Glenmark among top intraday trading tips for today
Sensex and Nifty on Tuesday ended lower for a third straight session amid caution ahead of the Reserve Bank of India's policy decision, while sentiment was subdued after a survey showed services activity in May shrank for the first time in three months.
The markets are expected to open flat note on Wednesday as investors will stay on the sidelines ahead of the Reserve Bank of India (RBI)'s monetary policy outcome later today during market hours. At 7:50 am, SGX Nifty was trading at 10,588, down 19 points or 0.18 per cent.
Global cues remained positive with Asian stocks edging up after tech sector strength lifted Wall Street shares overnight, while concerns about Italy’s debt prompted investors to move into lower-risk government debt elsewhere, pushing US Treasury yields down from recent highs.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent, while Japan's Nikkei edged down 0.1 per cent. Australian stocks rose 0.3 per cent.
On Wall Street, the Nasdaq closed at a record high for the second day in a row on Tuesday with help from the technology and consumer discretionary sectors amid an upbeat outlook for the US economy.
But the S&P 500 dipped, with the financial sector hit by lower Treasury yields, which can reduce banks' profits.
On Tuesday, The Sensex and Nifty ended lower for a third straight session amid caution ahead of the Reserve Bank of India's policy decision, while sentiment was subdued after a survey showed services activity in May shrank for the first time in three months.
The broader Nifty closed down 0.33 per cent or 35.35 points at 10,593.15, while the benchmark BSE Sensex ended 0.31 per cent or 108.68 points lower at 34,903.21.
Here are five intraday stock ideas:
L&T Tech (Buy)
Target: Rs 1322
Stoploss: Rs 1293
Built Smart City Campus in North America
Defensive stocks in focus ahead of RBI credit policy
HCL Tech (Buy)
Target: Rs 895
Stoploss: Rs 882
Promoters bought 75 lakh shares at Rs 900 per share
Vama Sundari Investment bought these shares
Target: Rs 520
Stoploss: Rs 536
Form-483 issued to one of the units
Received 5 observations from USFDA
WATCH ZEE BUSINESS VIDEO HERE
CG Power (Buy)
Target: Rs 57
Stoploss: Rs 55.2
Company received Rs 319 crore worth order
Order received for 1000 DETC supply
DETC: Diesel Electric Tower Car
United Spirits (Buy)
Target: Rs 3280
Stoploss: Rs 3238
Shareholders approved stock-split proposal
One share to be split into five shares
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)