FAST MONEY: HDFC Bank, Avanti Feeds among key intraday trading ideas

The benchmark indices on Thursday are expected to open higher tracking positive trend in Asian markets, which rallied with energy shares leading the way as crude oil prices bolted higher after US President Donald Trump’s decision to pull out of a nuclear deal with Iran.

Back home, Titan Company, Adani Enterprises, Nestle India, Asian Paints, Indian Bank, Chambal Fertlisers, Mphasis, Union Bank, Ujjivan Financial Zee Entertainment and Novartis are scheduled to report their quarterly numbers during the day. 

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent, while Japan’s Nikkei climbed 0.1 per cent. South Korea’s KOSPI rose 0.4 per cent and Shanghai edged up 0.3 per cent.

Brent crude futures rose 0.7 per cent to $77.76 a barrel in early trade, the highest since November 2014 and building on gains of about 3 percent on Wednesday. US light crude futures rose 0.8 per cent.

Overnight, the Dow gained 0.75 per cent and the S&P 500 climbed nearly 1 per cent, with the S&P energy index rallying 2 per cent.

On Wednesday, the Sensex ended at 35,319, up 103.03 points, while Nifty50 closed at 10,741, up 23.90 points. In the broader market, the BSE Midcap and BSE Smallcap indices underperformed to lose 0.6 per cent and 0.1 per cent, respectively. 

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 704.03 crore while the domestic institutional investors purchased stocks worth Rs 664.92 crore.

Here are key intraday tips for today's trade:

HDFC Bank (Buy)

Target: Rs 2040
Stoploss: Rs 1960

New FPI rules from May 18
Buying momentum to continue

Avanti Feeds (Buy)

Target: Rs 2460
Stoploss: Rs 2365

Board approves Stock Split 
Avanti Feeds board approves 1:2 bonus issue

ICICI Prudential (Buy)

Target: Rs 465
Stoploss: Rs 445

100% FDI expected in insurance intermediaries 
Existing FDI limit 49% in insurance sector

HDFC Life (Buy)

Target: Rs 530
Stoploss: Rs 506

100% FDI expected in insurance intermediaries 
Existing FDI limit 49% in insurance sector

Kokuyo Camlin (Buy)

Target: Rs 123
Stoploss: Rs 117.5

EBITDA jumped 51.4% to Rs 16.5 crore (YoY)
Revenue flat at Rs 190 crore
Net profit up 2x at Rs 5.7 crore
Ebitda up 51.4 percent at Rs 16.5 crore
Margin at 8.7 percent from 5.8 percent

(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)