FAST MONEY: Maruti Suzuki, ITC among top intraday trading tips
Japan's Nikkei bounced 0.4 per cent as a pullback in the yen eased concerns about earnings pressure on exporters. Moves elsewhere were marginal with MSCI’s broadest index of Asia-Pacific shares outside Japan barely changed.
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08:57 AM IST
The Sensex is expected to open lower on Tuesday after hitting record high in the previous session as Asian markets remained tepid in the early trade. At 7:50 am, SGX Nifty was trading at 11,091.50, down 7.50 points or 0.07 per cent.
In Asia, Japan's Nikkei bounced 0.4 per cent as a pullback in the yen eased concerns about earnings pressure on exporters. Moves elsewhere were marginal with MSCI’s broadest index of Asia-Pacific shares outside Japan barely changed.
On Wall Street, a rally in tech stocks made up for an otherwise dull day on Wall Street where the Dow eased 0.06 per cent, while the S&P 500 gained 0.18 per cent and the Nasdaq 0.28 per cent.
Here are key intraday trading tips:
MGL
Target: Rs 875
Stoploss: Rs 840
Short-covering in July F&O contracts; fresh buying in August
The stock is under physical delivery series
Maruti Suzuki
Target: Rs 9780
Stoploss: Rs 9670
Buying in the stock with heavy volumes in last hour of trade
The company produced 2 crore unit at Manesar plant
ITC
Target: Rs 290
Stoploss: Rs 280
The stock settled at day's high; short-covering seen
55% Cash delivery in stock
M&M
Target: Rs 925
Stoploss: Rs 899
Short-covering in stock; 65% cash delivery
Short-covering expected in auto stocks ahead of expiry
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Ajanta Pharma
Target: Rs 1075
Stoploss: Rs 1028
The stock settled at day's high; short-covering in futures trade
The stock is under physical delivery series; 12% cash delivery
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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