FAST MONEY: Eicher Motors, Torrent Power among 10 intraday tips for Thursday's trade

Sensex today: The benchmark indices are expected to open lower on Thursday tracking negative trend in Asian markets, which slipped amid mounting investor concerns that growing trade tensions would hurt the global economy. Back home, the World Bank on Wednesday projected country's GDP growth at 7.3 per cent for the next financial year and accelerate further to 7.5 per cent in 2019-20. The World Banks biannual publication, India Development Update: Indias Growth Story, expects the economy to clock a growth rate of 6.7 per cent in the current fiscal ending March 31. The report, however, observed that a growth of over 8 per cent will require "continued reform and a widening of their scope" aimed at resolving issues related to credit and investment, and enhancing competitiveness of exports.

"The Indian economy is likely to recover from the impact of demonetisation and the GST, and growth should revert slowly to a level consistent with its proximate factors -- that is, to about 7.5 per cent a year," the report said.

Among Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.45 per cent. The Asian markets took their cues from Wall Street shares, which fell for the third straight session overnight after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war. Boeing Co, seen as particularly vulnerable to retaliation from US trade partners, fell 2.5 per cent, leading the losers on the Dow.

Hong Kong’s Hang Seng dropped 0.75 per cent, Australian stocks fell 0.4 per cent and South Korea’s KOSPI lost 0.45 per cent. Japan’s Nikkei was down 0.85 per cent but still up roughly 0.6 per cent on the week.

Below are the key trading ideas for Thursday's trade: 

1) (SELL) KAVERI SEED 

Target: Rs 488
Stoploss: Rs 507 
CMP: Rs 498

• Selling expected after five-day long recovery
• Strong resistance near 50-DEMA (497.31)

2) (SELL) EICHER MOTORS 

Target: Rs 28,700
Stoploss: Rs 29,000 
CMP: Rs 28846

• Profit-booking expected after 10-day long rally 
• The stock fell below from top level in previous session 

3) (SELL) INDIABULLS HOUSING FIANCE 

Target: Rs 1200
Stoploss: Rs 1240 
CMP: Rs 1226

• The stock trading in range for last six days; weak pullback 
• Crossing 100-DEMA looks difficult 

4) (SELL) SREI INFRA 

Target: Rs 79
Stoploss: Rs 83 
CMP: Rs 82

• The stock remained weak amid market recovery
• Selling witnessed in futures trade

5) (SELL) TORRENT PHARMA 

Target: Rs 1170
Stoploss: Rs 1310
CMP: Rs 1296

• Selling continued for last three days
• Selling in futures trade; the stock fell below 50-WEMA, 100-WEMA

6) (SELL) TORRENT POWER 

Target: Rs 244
Stoploss: Rs 252 
CMP: Rs 250.95

• The stock trading below all averages on one-hour chart
• Selling with heavy volumes since March 8

7) (BUY) GNFC 

Target: Rs 440
Stoploss: Rs 422 
CMP: Rs 426.05

• Cabinet approved urea subsidy policy for next 3 years
• DBT approved for fertiliser subsidy

8) (BUY) RCF

Target: Rs 78.5
Stoploss: Rs 76 
CMP: Rs 76.40

• Cabinet approved urea subsidy policy for next 3 years
• Fertiliser stocks to perform well

9) (BUY) AB CAPITAL 

Target: Rs 156 
Stoploss: Rs 150 
CMP: Rs 151.55

• RBI approval on ARC business
• RBI's certificate of registration on ARC business

10) (BUY) Welspun Ent 

Target: Rs 160
Stoploss: Rs 152 
CMP: Rs 153.2

• Lowest bidding in Tamilnadu for NHDP project
• Bidding for Rs 1,540 crore 

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