The Sensex and Nifty are expected to ooen lower on Wednesday tracking a global sell-off as Italy’s political crisis provoked a heavy retreat on Wall Street and Asian markets, and sent the euro to a 10-month low and pushed up borrowing costs for the government in Rome.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.1 percent, while Japan's Nikkei average shed 1.7 percent to hit a six-week low. South Korea's KOSPI and the Australian stock benchmark slipped 1.6 percent and 0.7 percent, respectively.

On Wall Street on Tuesday, the Dow Jones Industrial Average .DJI fell 1.58 percent to 24,361.45, the S&P 500 lost 1.16 percent to 2,689.86 and the Nasdaq Composite dropped 0.5 percent to 7,396.59.

Here are key intraday trading tips:

BEL (Sell)

Target: Rs 116
Stoploss: Rs 124

Q4 income reduced 9.5% to Rs 3608 crore (YoY)
Q4 profit reduced 29.4% to Rs 558.7 crore (YoY)
Q4 EBITDA slipped 18.7% 

Glenmark (Sell)

Target: Rs 518
Stoploss: Rs 535

Q4 income slipped 7% to Rs 2280 crore (YoY)
Q4 profit dipped 17% to Rs 152 crore (YoY)
Q4 EBITDA dipped 26.5%

ADF Foods (Buy)

Target: Rs 272
Stoploss: Rs 260

Buying in the stock in last hour of trade
Q4 profit at Rs 6.88 crore from Rs 3.47 crore

IDFC Bank (Sell)

Target: Rs 38
Stoploss: Rs 42

Banking stocks will remain under pressure.
Financial shares weak in international markets too

WATCH ZEE BUSINESS VIDEO HERE

Union Bank (Sell)

Target: Rs 87
Stoploss: Rs 91.5

Banking stocks will remain under pressure.
Financial shares weak in international markets too

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