FAST MONEY: Maruti Suzuki, ITC among top intraday trading tips

The Sensex is expected to open lower on Tuesday after hitting record high in the previous session as Asian markets remained tepid in the early trade. At 7:50 am, SGX Nifty was trading at 11,091.50, down 7.50 points or 0.07 per cent.

In Asia, Japan's Nikkei bounced 0.4 per cent as a pullback in the yen eased concerns about earnings pressure on exporters. Moves elsewhere were marginal with MSCI’s broadest index of Asia-Pacific shares outside Japan barely changed. 

On Wall Street, a rally in tech stocks made up for an otherwise dull day on Wall Street where the Dow eased 0.06 per cent, while the S&P 500 gained 0.18 per cent and the Nasdaq 0.28 per cent.

Here are key intraday trading tips:

MGL  

Target: Rs 875
Stoploss: Rs 840

Short-covering in July F&O contracts; fresh buying in August
The stock is under physical delivery series

Maruti Suzuki

Target: Rs 9780
Stoploss: Rs 9670

Buying in the stock with heavy volumes in last hour of trade
The company produced 2 crore unit at Manesar plant

ITC

Target: Rs 290 
Stoploss: Rs 280

The stock settled at day's high; short-covering seen 
55% Cash delivery in stock

M&M 

Target: Rs 925 
Stoploss: Rs 899

Short-covering in stock; 65% cash delivery
Short-covering expected in auto stocks ahead of expiry

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Ajanta Pharma

Target: Rs 1075 
Stoploss: Rs 1028

The stock settled at day's high; short-covering in futures trade
The stock is under physical delivery series; 12% cash delivery

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