FAST MONEY: Whirpool, Radico Khaitan among key buy and sell ideas for today's trade
The benchmark indices are expected to open on a flat to positive note on Thursday after Asian shares found relief as fears about a global trade war amid US President Donald Trump’s push to introduce protectionist tariffs were tempered by signs the move could include carve-outs for key partners. At 8:30 am, SGX Nifty was trading at 10,221, up 42 points or 0.41 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, led by gains in South Korean shares, which also benefited from signs of easing tensions between the two Koreas. Japan's Nikkei .N225 gained one percent.
On Wall Street, the S&P 500 ended down just 0.05 per cent at 2,726.8 after an initial loss of almost one per cent, with tech shares being a major bright spot.
They erased most losses as White House spokeswoman Sarah Sanders told a media briefing that the impending hefty US tariffs on steel and aluminum imports could exclude Canada, Mexico and a clutch of other countries.
That soothed worries that the Trump Administration could lean more towards protectionist policies after the departure of his top economic adviser Gary Cohn.
On Wednesday, the benchmark indices hit three-month low, extending losses for the sixth straight session. The Sensex settled at 33,033, down 284.11 points, while the broader Nifty50 ended at 10,154, down 95 points.
Below are the key intraday tips for today's trade:
WHIRLPOOL OF INDIA (BUY)
Target: Rs 1540
Stoploss: Rs 1490
CMP: Rs 1499
- Buying possible in consumer durables
- Mild buying witnessed in the stock for last three sessions
- The stock is trading above all moving averages on daily chart
HEXAWARE TECHNOLOGIES (BUY)
Target: Rs 362
Stoploss: Rs 350
CMP: Rs 353.35
- Consistent buying in IT stocks for last few days
- Fresh buying in futures trade
RADICO KHAITAN (BUY)
Target: Rs 311
Stoploss: Rs 300
CMP: Rs 304.70
- The stock has fallen for last three days
- Support possible on 100-DMA
- Pullback expected above Rs 300
CENTRAL BANK OF INDIA (BUY)
Target: Rs 68
Stoploss: Rs 65
CMP: Rs 65.75
- The stock looks strong as compared to other banking stocks
- Buying in short-term charts
ORACLE FINANCIAL SERVICES (BUY)
Target: Rs 3875
Stoploss: Rs 3800
CMP: Rs 3823
- Short-covering in futures market
- Consistent buying in IT shares for last few days.
MOTHERSON SUMI (BUY)
Target: Rs 315
Stoploss: Rs 306
CMP: Rs 309
- Pullback from the lower levels
- Buying witnessed in futures trade
(Stocks mentioned here are for informational purpose. Consult your financial adviser before investing.)