FAST MONEY: Chennai Petro, HPCL among key stocks where you can make money

Sensex today: The benchmark indices are expected to open lower on Wednesday tracking negative trend in Asian markets after crude oil prices jumped back to near 3 1/2-year highs after US President Donald Trump pulled his country out of an international nuclear deal with Iran, sparking worries about global oil supplies. At 8:40 am, SGX Nifty was trading at 10,721, down 20 points or 0.19 per cent. 

Back home, Eicher Motors, Federal Bank, Jindal Steel, Arvind, GMDC, Parag Milk Foods, Sintex Plastics Technology Oriental Hotels, Dhampur Sugar Mills, Phoenix, Whirlpool and SPARC are among the companies scheduled to report their quarterly numbers during the day. 

Overseas, Asian shares ticked down as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran. 

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent in early trade while Japan's Nikkei fell 0.4 per cent.

On Wall Street caution over rising political risks was palpable. Energy shares gained 0.78 percent and defense contractor stocks rose. The S&P500 closed down 0.03 percent, paring earlier losses of 0.65 per cent. The Dow Industrial Average and Nasdaq were little changed.

On Tuesday, the Sensex closed at 35,216.32 points, up 8.18 points or 0.02 per cent, while broader Nifty50 ended at 10,717.80 points, up 2.30 points or 0.02 per cent.

Foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore, provisional data with the exchanges showed.

Here are key intraday trading tips:

1) Chennai Petro (Sell)

Target: Rs 294
Stoploss: Rs 308

America-Iran nuclear deal over
US President Donald Trump announced the closure of deal
Crude supply for the company from Iran may take a hit

2) MRPL (Sell)

Target: Rs 101
Stoploss: Rs 107

America-Iran nuclear deal over
US President Donald Trump announced the closure of deal
Crude supply for the company from Iran may take a hit

3) HPCL (Sell)

Target: Rs 299
Stoploss: Rs 309

America-Iran nuclear deal over
US President Donald Trump announced the closure of deal
Crude supply for the company from Iran may take a hit

4) ABB India (Buy)

Target: Rs 1310
Stoploss: Rs 1270

Revenue up 17 percent at Rs 2525.5 crore
Net profit up 14 percent at Rs 102.5 crore
Ebitda up 18 percent at Rs 189.5 crore
Margin flat at 7.5 percent

5) Harrisons Malayalam (Buy)

Target: Rs 117
Stoploss: Rs 109

Tea exports from Iran to take a hit 
Domestic rice firms will benefit 

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