FAST MONEY: Markets to open higher; key buy and sell ideas for today's trade

FAST MONEY: Markets to open higher; key buy and sell ideas for today's trade
banking stocks will remain in focus after Reserve Bank of India (RBI) revised guidelines to fight with the bad loans in banks. Image source: Reuters
By ZeeBiz WebTeam
Updated: Wed, Feb 14, 2018
09:19 am
ZeeBiz WebDesk
RELATED NEWS
Sensex rises over 100 pts; Nifty tests 11,600 Sensex rises over 100 pts; Nifty tests 11,600
Stocks in Focus on April 24: ACC, Banks & NBFC to Lupin; here are the 5 newsmakers of the day Stocks in Focus on April 24: ACC, Banks & NBFC to Lupin; here are the 5 newsmakers of the day
Anil Singhvi’s Strategy April 24: Cement Sector is Negative; Sell ACC Futures with Stop Loss 1675 Anil Singhvi’s Strategy April 24: Cement Sector is Negative; Sell ACC Futures with Stop Loss 1675
Stock Market tip: HDFC Bank shares to buy for 20 pct gains in 12 months, say share bazaar experts Stock Market tip: HDFC Bank shares to buy for 20 pct gains in 12 months, say share bazaar experts
World stock markets: S&P 500 closes at record high, even as EPS growth stagnates World stock markets: S&P 500 closes at record high, even as EPS growth stagnates

The domestic market is expected to open higher even as Asian markets were trading mixed on Wednesday as investor nerves were strained ahead of a US inflation report that could soothe, or inflame, fears of faster rate hikes globally.

At 8:30 am, SGX was trading at 10,548, up 83 points or 0.79 per cent. 

Back home, banking stocks will remain in focus after Reserve Bank of India (RBI) revised guidelines to fight with the bad loans in banks. 

The revised framework has specified norms for "early identification" of stressed assets, timelines for implementation of resolution plans, and a penalty on banks for failing to adhere to the prescribed timelines.

The latest notification issued by RBI last night has also withdrawn the existing mechanism which included Corporate Debt Restructuring Scheme, Strategic Debt Restructuring Scheme (SDR) and Scheme for Sustainable Structuring of Stressed Assets (S4A).

Below are the key buy and sell ideas for Wednesday's trade:

Archies (Buy)

Target: Rs 43

Stoploss: Rs 41.1

  • Product demand surges in February
  • Sales of gifts, photo frames, and flowers will increase 

Titan (Buy)

Target: Rs 824

Stoploss: Rs 800

  • Pullback on the stock going on for last four days
  • Gold prices have gone up due to weakness in dollar

Granules (Buy)

Target: Rs 128

Stoploss: Rs 120

  • Buying in midcap pharma stocks
  • Strong support at 100-DEMA on half-hourly chart

Jai Corp (Buy)

Target: Rs 177 

Stoploss: Rs 166

  • Buying in the stock for last four days
  • Volumes going up for last three days

Walchandnagar (Buy)

Target: Rs 215

Stoploss: Rs 203

  • Stock on a buying spree for last four days
  • PM Modi will lay foundation stone for Navi Mumbai Airport

Essar Shipping (Buy)

Target: Rs 28

Stoploss: Rs 26.5

  • Essar Steel bid for Arcelor Mittal
  • Arcelor Mittal proposed industrial plan 
  • Numetal Mauritius along with VTB bid for the company too
  • Final decision to be taken post legal scrutiny

Gayatri Projects (Buy)

Target: Rs 225

Stoploss: Rs 207

  • Circuit filters have been revised
  • Upper circuit fixed at 20 per cent

Idea (Buy)

Target: Rs 88

Stoploss: Rs 83

  • Accumulated Rs 3250 crore by issuing shares to promoter group firms
  • Board meeting due later in the day 

Shivam Auto (Buy)

Target: Rs 89

Stoploss: Rs 82

  • Buying in auto ancillary stocks
  • Robust December quarter earnings expected

(Stocks mentioned here are for informational purpose. Please consult your financial advisors before investing.)