FAST MONEY: Reliance Communications, Nestle India among top intraday trading tips
The Sensex and Nifty are expected to open higher on Thursday tracking positive trend in Asian markets, which rebounded from a two-month trough, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing.
Stocks in Italy, the epicentre of the latest market tumult, bounced back 2.1 per cent on Wednesday. But it had given up all the gains made in 2018.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.56 percent after slumping to its weakest since the start of April on Wednesday.
On Wednesday, the Sensex slipped over 43 points in volatile trade to end at 34,906.11, while the 50-share Nifty shed 18.95 points to finish at 10,614.35.
Here are key stocks to trade today:
Nestle India (Buy)
Target: Rs 9850
Stoploss: Rs 9400
80% cash delivery in stock
The stock is trading around key support level
Reliance Communications (Buy)
Target: Rs 18.5
Stoploss: Rs 17
Out of court settlement with Ericssion
RCom to pay Ericsson Rs 550 crore by the end of September
Target: Rs 1300
Stoploss: Rs 1240
Short-covering in futures market
65% cash delivery in stock
Bajaj Finance (Buy)
Target: Rs 2180
Stoploss: Rs 2100
Short-covering in stock in last hour of trade
The stock settled at day's high level
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Future Consumers (Buy)
Target: Rs 60
Stoploss: Rs 57.5
The stock recovered sharply in last hour of trade
The stock settled at day's high level with 50% cash delivery
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing)
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