FAST MONEY: D-Mart, Hindalco among top intraday trading tips
Asian markets were subdued after US oil prices rose above $70 a barrel on Monday for the first time since November 2014, as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supplies. At 8:40 am, SGX Nifty was trading at 10,684.50, up 17.50 points or 0.16 per cent.
Sensex today: The benchmark indices are expected to open flat on Monday tracking muted trend seen in Asian markets after US oil prices rose above $70 a barrel on Monday for the first time since November 2014, as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supplies. At 8:40 am, SGX Nifty was trading at 10,684.50, up 17.50 points or 0.16 per cent.
Back home, investors may start to factor the likely result of Karnataka state election based on pre-poll survey. Any hiccups to BJP may cast clouds over the general election in 2019.
Overseas, MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.3 per cent, while Chinese blue chips rose 0.7 per cent. E-Mini futures for the S&P 500 also inched up 0.25 per cent. Japan's Nikkei went the other way as a firmer yen trimmed 0.4 percent off the index.
Friday’s US jobs report showed unemployment dropping to a new cycle low of 3.9 percent yet wages remained benign, suggesting the Federal Reserve would keep raising rates but at a gradual pace.
That outlook cheered Wall Street where the Dow ended Friday up 1.39 percent, while the S&P 500 rose 1.28 percent and the Nasdaq 1.71 percent.
Over the last week the Sensex lost 54.32 points, or 0.16 per cent, while the Nifty dropped 74.05 points, or 0.69 per cent.
Here are key trading ideas for Monday's trade:
Apollo Hospitals (Sell)
Target: Rs 1078
Stoploss: Rs 1110
Delhi govt to cap profit margins of city hospitals on drugs and devices
Intellect Design (Buy)
Target: Rs 202
Stoploss: Rs 193
Recorded Rs 32 crore profit against Rs 24.9 crore loss
Income came in at Rs 217 crore from Rs 136 crore
Hindalco (Buy)
Target: Rs 236
Stoploss: Rs 229
Aluminium prices going up in global markets
Aluminium prices jumped 3.6% on Friday
D-Mart (Buy)
Target: Rs 1520
Stoploss: Rs 1475
Q4 profit came in at Rs 167 crore from Rs 97 crore earlier
Revenues at Rs 3820 crore from Rs 3120 crore
Approval to collect Rs 1500 crore via NCDs
WATCH ALL TOP 20 INTRADAY CALLS HERE
Aban Offshore (Buy)
Target: Rs 170
Stoploss: Rs 165
Crude at over 3-year high; Brent hits $75
Crude prices trading above their November 2014 levels
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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