FAST MONEY: Shriram Transport, Biocon among key intraday trading ideas

Asia was bereft of the usual leads as the U.S. markets were closed on Wednesday for the Independence Day holiday. US stock futures were marginally higher, pointing to a stronger open for Wall Street later in the day.

Buy Shriram Transport with target price of Rs 1170. Image source: PTI

The Sensex and Nifty are expected to open flat tracking mixed trend seen in Asian markets, which were shaky as financial markets remained in a state of anxious uncertainty on the eve of a US deadline to slap tariffs on Chinese imports. At 7:50 am, SGX Nifty was trading at 10,775.50, up 2.50 points or 0.02 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent, having moved in and out of the red in early trade. The index has lost 1.6 per cent this week, during which it plumbed a nine-month low.

Asia was bereft of the usual leads as the U.S. markets were closed on Wednesday for the Independence Day holiday.

US stock futures were marginally higher, pointing to a stronger open for Wall Street later in the day.

Here are key intraday trading ideas:

Shriram Transport (Buy)

Target: Rs 1170
Stoploss: Rs 1135

Management assured investors that group companies will pay back loans

Biocon (Buy)

Target: Rs 645

Stoploss: Rs 624

Sterile drug product received EU GMP certificate
European agency had inspected in March 2018

Fiem Industries (Buy)

Target: Rs 790
Stoploss: Rs 764

The company entered into deal with Japan and Toyota Tsusho Corp
The agreement is for manufacturing Safety Sensor
Fiem Industries to provide technological support for Safety Sensor

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